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CURRENCY WAR OR CURRENCY PEACE: THE DOLLAR AND RENMINBI IN A WORLD OF PORTFOLIO AND CURRENT ACCOUNT IMBALANCES

HALLETT, ANDREW HUGHES; OLIVA, JUAN CARLOS MARTINEZ - In: China Economic Policy Review (CEPR) 02 (2013) 01, pp. 1350003-1

This paper analyzes the stability of foreign trade, currency markets and international portfolio balances with the help of a model which captures the interactions between current account balances and the international asset portfolios for domestic and foreign investors. The model is used for...

Persistent link: https://www.econbiz.de/10010748343

MODELLING THE WORLD EXCHANGE RATES:DYNAMICS, VOLATILITY AND FORECASTING

Nwaobi, Godwin - Volkswirtschaftliche Fakultät, … - 2008

Indeed, the specification of equilibrium in the world economy depends on the exchange rate regime and thus, the early … foreign exchange markets. However, the world has known several exchange rate systems beginning with the fixed-gold standard … exchange was deregulated, independent traders finally had access to the biggest trading market of the world; and these forex …

Persistent link: https://www.econbiz.de/10005619306

Twin deficits: new evidence from a developing (oil vs. non-oil) countries’ perspective

Eldemerdash, Hany; Metcalf, Hugh; Maioli, Sara - In: Empirical Economics 47 (2014) 3, pp. 825-851

We test the relationship between the current account and fiscal policy for a group of small open developing economies with fixed exchange rates some of which are oil exporters. Specifically, we test the viewpoint of a Ricardian infinite-horizon representative agent model in which lower public...

Persistent link: https://www.econbiz.de/10010994453

External Balance Adjustment: An Intra-National and International Comparison

Smith, Constance - Department of Economics, University of Alberta - 2011

Large external imbalances have become a policy concern. This study investigates the determinants of external balances for regions within a single country — Canadian provinces — as well as for a sample of 18 OECD countries. External balance adjustment may differ for provinces since there are...

Persistent link: https://www.econbiz.de/10009318571

Does Financial and Goods Market Integration Matter for the External Balance? A Comparison of OECD Countries and Canadian Provinces

Smith, Constance - Department of Economics, University of Alberta - 2010

Large current account deficits have become a policy concern. The trend toward international capital market liberalization has improved access to foreign pools of saving which has allowed the expansion of current account deficits. There are minimal barriers to capital flows within a country, so...

Persistent link: https://www.econbiz.de/10008472645

A Tradeoff between the Output and Current Account Effects of Pension Reform

Catalan, Mario; Magud, Nicolas E. - International Monetary Fund (IMF) - 2012

We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the...

Persistent link: https://www.econbiz.de/10010790246

Benin; Selected Issues and Statistical Appendix

International Monetary Fund (IMF); International … - 2008

This paper examines the external sustainability and competitiveness of Beninâ€™s economy. Balance of payments flows suggest Beninâ€™s external position is sustainable. Large trade and current account deficits are comfortably financed by inflows through the capital and financial...

Persistent link: https://www.econbiz.de/10011245132

Niger; Selected Issues and Statistical Appendix

International Monetary Fund (IMF); International … - 2009

This Selected Issues Paper and Statistical Appendix for Niger are discussed. The Nigerien economic outlook has been improving since 1999. After a long period of decline in per capita income, growth accelerated through 2007, attaining an annual average of 4 percent, or about 1 percent in per...

Persistent link: https://www.econbiz.de/10011245770

Assessing Exchange Rate Competitiveness in the Eastern Caribbean Currency Union

Pineda, Emilio; Cashin, Paul; Sun, Yan - International Monetary Fund (IMF) - 2009

This paper uses three methods to assess movements of real exchange rates in the ECCU over time. First, the purchasing power parity hypothesis is tested and then used to provide a benchmark for equilibrium real exchange rates in the region. Second, a fundamentals-based equilibrium real exchange...

Persistent link: https://www.econbiz.de/10004999972

Exchange rates in the modern floating era: what do we really know?

Rogoff, Kenneth - In: Review of World Economics (Weltwirtschaftliches Archiv) 145 (2009) 1, pp. 1-12

Persistent link: https://www.econbiz.de/10005167044

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