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The Determinants of Pakistan’s Trade Balance: An ARDL Cointegration Approach
Waliullah; Kakar, Mehmood Khan; Kakar, Rehmatullah; … - In: Lahore Journal of Economics 15 (2010) 1, pp. 1-26
supply, and real exchange rate in the case of Pakistan’s economy. Income and money variables are included in the model in …
Persistent link: https://www.econbiz.de/10010556754
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Monetary Policy Implementation at Different Stages of Market Development
Laurens, Bernard - International Monetary Fund (IMF) - 2005
The most salient trend in monetary policy over the past two decades has been increasing reliance on money market operations, which reflects the belief that allowing market forces to allocate financial resources brings about increased economic efficiency and growth. However, small economies and...
Persistent link: https://www.econbiz.de/10005252522
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External Shocks and Inflation in Developing Countries Under a Real Exchange Rate Rule
Ostry, Jonathan David; Montiel, Peter - International Monetary Fund (IMF) - 1992
This paper shows that the response of inflation to external shocks is very different when the authorities target the real exchange rate than when they follow a fixed exchange rate or a preannounced crawling peg. Specifically, shocks that would have no effect on the steady-state inflation rate...
Persistent link: https://www.econbiz.de/10005248257
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Sources of Inflation in Developing Countries
Loungani, Prakash; Swagel, Phillip - International Monetary Fund (IMF) - 2001
This paper develops stylized facts about the inflation process in developing countries, focusing particularly on the relationship between the exchange rate regime and the sources of inflation. Using annual data from 1964 to 1998 for 53 developing countries, we find that money growth and exchange...
Persistent link: https://www.econbiz.de/10005826076
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Exchange Rate Policy in Developing Countries; Some Analytical Issues
Montiel, Peter; Aghevli, Bijan B.; Khan, Mohsin S. - International Monetary Fund (IMF) - 1991
This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and international competitiveness.
Persistent link: https://www.econbiz.de/10005767344
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Currency Substitution in Developing Countries; An Introduction
Calvo, Guillermo; Gramont, Carlos A. Végh - International Monetary Fund (IMF) - 1992
This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how the presence of currency substitution affects the choice of nominal anchors in...
Persistent link: https://www.econbiz.de/10005769096
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The Asymmetric Effects of Exchange Rate Fluctuations; Theory and Evidence From Developing Countries
Kandil, Magda E. - International Monetary Fund (IMF) - 2000
The paper examines the asymmetric effects of exchange rate fluctuations on real output and price in developing countries. The theoretical model decomposes movements in the exchange rate into anticipated and unanticipated components. Unanticipated currency fluctuations determine aggregate demand...
Persistent link: https://www.econbiz.de/10005769134
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Reserve Requirements in the Brave New Macroprudential World
Cordella, Tito; Federico, Pablo; Vegh, Carlos; Vuletin, … - 2014
Using a new, large data set on quarterly reserve requirements for the period 1970-2011, this paper provides new evidence on the use of reserve requirements as a countercyclical macroprudential tool in developing countries. The appeal of reserve requirements lies in the pro-cyclical behavior of...
Persistent link: https://www.econbiz.de/10012573862
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Dynamic multiplier effects of remittances in developing countries
Karpestam, Roy Peter David - In: Journal of Economic Studies 39 (2012) 5, pp. 512-536
Purpose – The purpose of this paper is to simulate the indirect and direct effects of remittances in developing …-run dynamic multiplier effects of hypothetical temporary changes in remittances, as well as simulates the permanent effects of … observed remittances. Findings – The results indicate positive multiplier effects in general, and they also reveal a …
Persistent link: https://www.econbiz.de/10010616633
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The Impact of Exchange Rate Movements on Trade Balance in Nigeria’s Open-Economy - L’impatto delle variazioni dei tassi di cambio sulla bilancia commerciale della Nigeria
Obudah, Bodiseowei C.; Tombofa, Steve S. - In: Economia Internazionale / International Economics 67 (2014) 1, pp. 111-125
The objective of this study is to examine the impact of exchange rate on Nigeria’s trade balance. Time series data on trade balance, external reserves, exchange rate, money supply and real GDP were used in the analysis and the data were subjected to unit root tests to determine their time...
Persistent link: https://www.econbiz.de/10010991475