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Adjustment patterns to commodity terms of trade shocks: The role of exchange rate and international reserves policies
Aizenman, Joshua; Edwards, Sebastian; Riera-Crichton, Daniel - 2011
We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970-2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...
Persistent link: https://www.econbiz.de/10010288117
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China's exchange rate impasse and the weak U.S. dollar
McKinnon, Ronald; Schnabl, Gunther - 2008
inflation, particularly in the 1970s, and the choice of an exchange rate regime consistent with domestic monetary and fiscal … reminiscent of the global inflation generated by the weak dollar in the 1970s. …
Persistent link: https://www.econbiz.de/10010304732
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Large devaluations and inflation inequality: Evidence from Brazil
Gouvêa, Raphael Rocha - 2020
than the prices of nontradables/higher-priced varieties. These relative price changes may lead to inflation inequality when …, we show that inflation of poor households in Brazil was at least 11 percentage points higher than of the rich in the … aftermath of the 2002 large devaluation. A detailed case study of the City of São Paulo estimates an inflation inequality …
Persistent link: https://www.econbiz.de/10012388917
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Central banks' dilemma: Reserve accumulation, inflation and financial instability
Steiner, Andreas - 2010
inflation rate, both on the global and the individual-country level. …
Persistent link: https://www.econbiz.de/10010289308
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Currency devaluations, distribution conflict and inflation in a post-Kaleckian open economy model
Campana, Juan Manuel - 2024
The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two … demand, growth, trade balance, and inflation are generally ambiguous and highly contingent on the parameter constellation of …
Persistent link: https://www.econbiz.de/10015051013
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Remittances, exchange rate regimes, and the Dutch disease: A panel data analysis
Lartey, Emmanuel K. K.; Mandelman, Federico S.; Acosta, … - 2008
Using disaggregated sectorial data, this study shows that rising levels of remittances have spending effects that lead to real exchange rate appreciation and resource movement effects that favor the nontradable sector at the expense of tradable goods production. These characteristics are two...
Persistent link: https://www.econbiz.de/10010292357
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Exchange Rate Regimes and Macroeconomic Stability: The Case of Sweden 1972-1996
Bergvall, Anders - 2002
In this paper I investigate the relevance of the exchange rate regime for macroeconomic stability. I simulate hypothetical macroeconomic developments under different regimes in Sweden during the period 1972 -1996. The main question is how stable output would have been if Sweden had had a...
Persistent link: https://www.econbiz.de/10010321762
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Words, deeds, and outcomes: A survey on the growth effects of exchange rate regimes
Harms, Philipp; Kretschmann, Marco - 2007
Recent studies on the growth effects of exchange rate regimes offer a wide range of different, sometimes contradictory results. In this paper, we systematically compare three prominent contributions in this field. Using a common data set, a common specification, and common estimation methods, we...
Persistent link: https://www.econbiz.de/10011430062
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Deciding to Peg the Exchange Rate in Developing Countries:The Role of Private-Sector Debt
Harms, Philipp; Hoffmann, Mathias - 2009
We argue that a higher share of the private sector in a country's external debt raises the incentive to stabilize the exchange rate. We present a simple model in which exchange rate volatility does not affect agents' welfare if all the debt is incurred by the government. Once we introduce...
Persistent link: https://www.econbiz.de/10011430071
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A concise history of exchange rate regimes in Latin America
Frenkel, Roberto; Rapetti, Martin - 2010
The paper analyzes exchange rate regimes implemented by the major Latin American countries since the Second World War, with special attention on the period of the second globalization process beginning in the 1970s. The analysis follows a historical narrative aiming to provide an understanding...
Persistent link: https://www.econbiz.de/10010287866