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Asymmetric demographic shocks and institutions: The impact on international capital flows and welfare
Arezki, Rabah - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the consequences of an asymmetric negative fertility shock on capital formation, saving … domestic investor return on capital. The shock is transmitted to the small open economy depending on whether the wedge is below …¤erence in returns on capital. After the shock has occurred, capital is repatriated in order to �nance the old age consumption of …
Persistent link: https://www.econbiz.de/10008777398
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Current Account Deficits and Capital Flows in East Asia and Latin America : Are the Nineties Different from the Early Eighties?
Milesi-Ferreti, G-M; Razin, A - Foerder Institute for Economic Research, Eitan Berglas … - 1997
A number of East Asian and Latin American countries have beeen the recipients of a large portion of total international capital flows to developing countries, both in the late seventies/early eighties and in the early nineties. These inflows have financed persistent current account imbalances,...
Persistent link: https://www.econbiz.de/10005675429
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The impact of the National Bank of Romania Monetary Policy on the Balance of Payments
Radulescu, Magdalena - In: Journal for Economic Forecasting 4 (2007) 2, pp. 26-43
The matter of balance adjustment generates many interesting reflections. For a long time, the equilibrium of the balance of payments was the focus of theoretical debates referring to international economy. At the beginning, it was reduced to the equilibrium of the balance of current...
Persistent link: https://www.econbiz.de/10005612259
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Commodity prices and exchange rate volatility: Lessons from South Africa's capital account liberalization
Arezki, Rabah; Dumitrescu, Elena; Freytag, Andreas; … - In: Emerging Markets Review 19 (2014) C, pp. 96-105
We examine the relationship between the South African Rand and the gold price volatility using monthly data for the period 1979–2010. Our main finding is that prior to capital account liberalization the causality runs from the South African Rand to the gold price volatility but the causality...
Persistent link: https://www.econbiz.de/10010785356
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China's March to Prosperity: Reforms to Avoid the Middle-income Trap
Koen, Vincent; Herd, Richard; Hill, Sam - Economics Department, Organisation de Coopération et … - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10011277005
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The expectations-driven US current account
Hoffmann, Mathias; Krause, Michael U.; Laubach, Thomas - Deutsche Bundesbank - 2013
filtered from observed productivity. In line with the intertemporal approach to the current account, a major part of the …
Persistent link: https://www.econbiz.de/10010957136
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Makroökonomik der Wechselkursunion : Interaktion fester und flexibler Wechselkurse
Papadopoulou, Daphni-Marina - 1993
Persistent link: https://www.econbiz.de/10000858187
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Uncertainty About the Fundamentals and the Occurrence of Sudden Stops of Capital Flows : Theory and Empirics
Köhler-Geib, Friederike (Fritzi) N. - 2009
We analyse the effect of the uncertainty about the fundamentals on the probability of sudden stops of capital flows from a theoretical and empirical perspective. Our model predicts that the probability of crises increases with the uncertainty, ie. the dispersion of private signals about the true...
Persistent link: https://www.econbiz.de/10012721410
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Do Differences in Financial Development Explain the Global Pattern of Current Account Imbalances?
Gruber, Joseph W. - 2008
This paper addresses the popular view that differences in financial development explain the pattern of global current account imbalances. One strain of thinking explains the net flow of capital from developing to industrial economies on the basis of the industrial economies' more advanced...
Persistent link: https://www.econbiz.de/10012724705
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Why are Capital Flows so Much More Volatile in Emerging than in Developed Countries?
Broner, Fernando - 2006
The standard deviations of capital flows to emerging countries are 80 percent higher than those to developed countries. First, we show that very little of this difference can be explained by more volatile fundamentals or by higher sensitivity to fundamentals. Second, we show that most of the...
Persistent link: https://www.econbiz.de/10012734358