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Why is 'The Market' so Unforgiving? Reflections on the Tequilazo
Calvo, Guillermo A. - 1996
Mexico’s financial debacle and its impact on other emerging markets (the Tequila effect)has raised many fundamental questions. Mexico achieved fiscal balance in 1993, undertookseveral fundamental market-oriented reforms, signed a free trade agreement with a very largemarket (the NAFTA), became...
Persistent link: https://www.econbiz.de/10009450719
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Economic structures, the nature of shocks and the role of exchange rate in the monetary policy formation in the emerging countries of East-Asia
Siok Kun Sek - 2009
This thesis investigates the role of exchange rate in a small open economy policy framework. Focusing the analysis on the crisis-hit East-Asian countries, the main objective of this thesis is to investigate the necessity of the monetary authority to concern about the exchange rate stability by...
Persistent link: https://www.econbiz.de/10009429030
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International trade and labour markets
Braun, Sebastian Till - 2010
Die vorliegende Dissertation besteht aus vier Aufsätzen, die sich mit Fragen des Außenhandels und der Arbeitsmarktökonomie auseinandersetzen. Der erste Aufsatz untersucht in einem internationalen Oligopol die Interaktion zwischen Handelsliberalisierung, Produkt- und Prozessinnovationen und...
Persistent link: https://www.econbiz.de/10009467258
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Price adjustments in a general model of state-dependent pricing
Costain, James S.; Nakov, Anton - 2008
In this paper, we show that a simple model of smoothly state-dependent pricing generates a distribution of price adjustments similar to that observed in microeconomic data, both for low and high inflation. Our setup is based on one fundamental assumption: price adjustment is more likely when it...
Persistent link: https://www.econbiz.de/10012530218
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Dynamics of the price in a general model of state-dependent pricing
Costain, James S.; Nakov, Anton - 2008
This paper analyzes the effects of monetary shocks in a DSGE model that allows for a general form of smoothly state-dependent pricing by firms. As in Dotsey, King, and Wolman (1999) and Caballero and Engel (2007), our setup is based on one fundamental property: firms are more likely to adjust...
Persistent link: https://www.econbiz.de/10012530226
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Anticipated shocks, optimal monetary policy, and welfare
Roland Winkler - 2009
Intertemporal general-equilibrium models with Keynesian features such as imperfect competition and imperfectly flexible prices which give rise to a (at least) short-run non-neutrality of monetary policy have become the workhorse model for monetary macroeconomics. This thesis now makes four...
Persistent link: https://www.econbiz.de/10009428969
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Monetary policy and the asset risk-taking channel
Abbate, Angela; Thaler, Dominik - 2018
¿Cuánto importa el canal de toma de riesgos (risk-taking channel) para la política monetaria? Para responder a esta pregunta, desarrollamos y estimamos un modelo cuantitativo macroeconómico DSGE, en el que los bancos eligen inversiones excesivamente arriesgadas, debido a un problema de...
Persistent link: https://www.econbiz.de/10012530598
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Foreign Direct Investment in Romania - Influence on Transformation of the Economic System and the EC-Integration
Müller, Waldemar - 2005
Geschehens stellt hier aus ökonomischer Sicht die Theorie der komparativen Kostenvorteile dar.Konkrete Fortschritte und … policy of the European Union on the transformation of systems and the integration of Romania will be demonstrated. From a … comprehensive description of the process of the transformation and integration of Romania, conclusions as to how these processes can …
Persistent link: https://www.econbiz.de/10009451146
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Institutional change in Romania 1866 - 2005 : an institutional economics approach to the role of path dependency for the transformation and the integration into the European Union
Comşa, Maria-Laura - 2006
Rumänien ist seit 2007 Mitglied der Europäischen Union. 2004 hat die EU-Kommission die rumänische Volkswirtschaft als funktionierende Marktwirtschaft eingestuft. Trotzdem existieren hohe wirtschaftliche Unterschiede zwischen Rumänien und den restlichen EU-Staaten. Das Land ist relativ groß...
Persistent link: https://www.econbiz.de/10009459129
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Dynamic effects of persistent shocks
Alloza, Mario; Gonzalo, Jesús; Sanz, Carlos
particular, standard local projections identify responses that include an effect due to the persistence of the shock, while … projections and moving average representations. In particular, the inclusion of leads of the shock in local projections allows to … proyecciones locales estándar identifi can respuestas que incluyen un efecto debido a la persistencia del shock, mientras que las …
Persistent link: https://www.econbiz.de/10012523677