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Current account deficits during heightened risk: Menacing or mitigating?
Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2016
's vulnerability to periods of heightened risk and uncertainty. This paper develops a framework to evaluate such vulnerabilities. It … and explore how they are affected by domestic and global risk. We apply this framework to ten OECD economies, showing the … Kingdom, show that a substantial degree of international risk sharing can occur through current accounts and international …
Persistent link: https://www.econbiz.de/10011784598
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Importzoll, Beschäftigung und Leistungsbilanz: ein mikrofundierter Ansatz
Bleich, Torsten - 2004
Der vorliegende Beitrag untersucht die Wirkungen eines Importzolls auf die Beschäftigung und die Leistungsbilanz der kleinen offenen Wirtschaft. Ne- ben der makroökonomischen Totalanalyse von Zollwirkungen steht die mi- kroökonomische Fundierung des verwendeten Modells im Mittelpunkt. Die...
Persistent link: https://www.econbiz.de/10010263430
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Warum ist Deutschland Exportweltmeister? Der Einfluss laufender internationaler Transfers
Hansen, Sabine; Wälde, Klaus - 2002
Der Außenbeitrag einer Ökonomie wird nach dem intertemporalen Ansatz zum Verständnis der Leistungsbilanz verursacht durch inländische Spar- und Investitionsentscheidungen. Dieser Ansatz wird erweitert umeine theoretische und empirische Analyse der Auswirkungen laufender internationaler...
Persistent link: https://www.econbiz.de/10010305445
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Capital inflow surges and consequences
Ghosh, Atish R.; Qureshi, Mahvash Saeed - 2016
While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...
Persistent link: https://www.econbiz.de/10011653787
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Financial flows and international imbalances: The role of catching up by late-industrializing developing countries
Kregel, Jan - 2008
While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by late-industrializing developing...
Persistent link: https://www.econbiz.de/10010266490
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The Multiple Effects of Capital Controls
Zehri, Chokri - In: Comparative Economic Research. Central and Eastern Europe 23 (2020) 4, pp. 169-185
Capital controls are seen as a means to promote financial stability or improve macroeconomic adjustment in economies with nominal rigidities and suboptimal monetary policy. Such controls may take various forms, including explicit or implicit taxation of cross-border financial flows and dual or...
Persistent link: https://www.econbiz.de/10013204653
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Fisherian and Ricardian trade
Sinn, Stefan - 1991
This paper discusses the difference between Fisherian and Ricardian trade in terms of a simple two-period model of a small open economy. Fisherian or intertemporal trade occurs when goods are traded today against the promise to deliver goods in the future. The resulting net resource transfer is...
Persistent link: https://www.econbiz.de/10010275416
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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10010320249
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Large hoarding of international reserves and the emerging global economic architecture
Aizenman, Joshua - 2007
This paper analyzes competing interpretations for the large increases in the hoarding of international reserves by developing countries. While the first phase of the rapid hoarding of reserves in the aftermath of the East Asian crisis has been dominated by self insurance against exposure to...
Persistent link: https://www.econbiz.de/10010285334
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Adjustment of global imbalances: Illustrative scenarios for Hungary
Hornok, Cecília; Jakab, Zoltán M.; Tóth, Máté Barnabás - 2007
.S.; housing price correction in the US; an increase in the risk premium of dollar assets; increase in domestic demand in the Asian … domestic macroeconomic variables depend on our assumptions on the reaction of monetary policy and the developments in the risk …
Persistent link: https://www.econbiz.de/10010322406