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The Financial Crisis has hit particularly hard countries like Ireland or Spain. Procyclical fiscal policy has contributed to a boom-bust cycle that undermined fiscal positions and deepened current account deficits during the boom. We set up an RBC model of a small open economy, following Mendoza...
Persistent link: https://www.econbiz.de/10009364842
growth rates that those countries may have. Backus and Kehoe (1992) presented a set of international evidence on the …
Persistent link: https://www.econbiz.de/10005001621
between China, South Africa, Russia and India with African countries. Then, we discuss the insertion of each BRICS country in …
Persistent link: https://www.econbiz.de/10014486015
between China, South Africa, Russia and India with African countries. Then, we discuss the insertion of each BRICS country in …
Persistent link: https://www.econbiz.de/10014391366
growth rate of GDP, nominal interest rate, nominal and real exchanges rates and the rate of inflation. The computational … simulation of the theoretical model shows that the monetary policy rules are relevant only to the determination of growth rate of …-neutral in the long-run. In this setting we argue that a monetary policy that induces growth must seek to minimize the volatility …
Persistent link: https://www.econbiz.de/10005526979
of what we call the tripod investment, financing and cooperation. We begin with an overview of Brazil-Africa relations …
Persistent link: https://www.econbiz.de/10014486160
of what we call the tripod investment, financing and cooperation. We begin with an overview of Brazil-Africa relations …
Persistent link: https://www.econbiz.de/10014232196
This study aims to examine the theoretical literature concerning exchange-rate and balance-of-payments determination, in order to investigate how an exchange rate change may affect one country's foreign trade flows. Therefore, we analyze the different categories of balance-of-payments models -...
Persistent link: https://www.econbiz.de/10011372161
The real exchange rate (RER) can be considered one of the most important relative price of economics, given the influence it exerts on many other prices and variables, and may be overvalued, among other factors, as a symptom of the existence of a Dutch disease process. Thus, seeking to prove...
Persistent link: https://www.econbiz.de/10011372184
This paper shows estimates of the optimal level of foreign reserves for Brazil between the first quarter of 2004 and the third trimester of 2012, by applying the new Jeanne e Rancière (2011) framework, using different scenarios. The estimates of the optimal holdings of this asset are calculated...
Persistent link: https://www.econbiz.de/10010330480