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Fear of appreciation
Levy-Yeyati, Eduardo; Sturzenegger, Federico; Gluzmann, … - In: Journal of Development Economics 101 (2013) C, pp. 233-247
In recent years, the term “fear of floating” has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has...
Persistent link: https://www.econbiz.de/10011065947
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Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
Yilmazkuday, Hakan - 2011
This paper investigates thresholds of inflation, government size, trade openness, and per capita income for the finance … inflation crowds out positive effects of financial depth on long-run growth, (ii) small government sizes hurt the finance …
Persistent link: https://www.econbiz.de/10013133509
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Inflation Thresholds and Growth
Yilmazkuday, Hakan - 2011
This paper investigates inflation thresholds that lead to higher growth rates using five-year averages of standard … countries: (i) the catch-up effect has worked only when inflation is below 12%; (ii) the positive effect of human capital on … growth has been present and significant when inflation has been below 15%; (iii) financial development has been effective …
Persistent link: https://www.econbiz.de/10013118189
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Inflation Thresholds and the Finance-Growth Nexus
Rousseau, Peter L.; Wachtel, Paul - 2013
the inflation rate. Using five-year averages of standard measures of financial development, inflation, and growth for 84 … countries from 1960 to 1995, a series of rolling panel regressions show that there is an inflation threshold for the finance …-growth relationship that lies between 13 and 25 percent. When inflation exceeds the threshold, finance ceases to increase economic growth …
Persistent link: https://www.econbiz.de/10014110986
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The Russian economy amidst the war and sanctions
Astrov, Vasily; Kochnev, Artem; Stamer, Vincent; Teti, … - 2024
The marked turnaround in Russia's foreign trade in 2023 exerted strong downward pressure on the Russian rouble, which lost around 30% of its value. Global oil prices were declining in the first half of the year, the EU import embargo on Russian oil depressed prices even further; and on top of...
Persistent link: https://www.econbiz.de/10015065596
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Inflation, Real Economic Growth and Unemployment Expectations : An Empirical Analysis Based on the ECB Survey of Professional Forecasters
Ramos-Herrera, María del Carmen - 2017
Expectations are at the centre of modern macroeconomic theory and policymakers. In this paper, we examine the predictive ability and the consistency properties of macroeconomic expectations using data of the European Central Bank (ECB) Survey of Professional Forecasters (SPF)
Persistent link: https://www.econbiz.de/10012961331
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Comparative analysis of nominal and real convergence in West African Monetary Zone (WAMZ) : time varying parameter approach
Olowofeso, Olorunsola E.; Wadda, Ebrima N.; Loua, Joachim; … - 2023
reveal some evidence of convergence in exchange rates, especially for Guinea and Liberia. For inflation, there is no evidence …
Persistent link: https://www.econbiz.de/10015045367
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Words, deeds, and outcomes : a survey on the growth effects of exchange rate regimes
Harms, Philipp; Kretschmann, Marco - 2007
Recent studies on the growth effects of exchange rate regimes offer a wide range of different, sometimes contradictory results. In this paper, we systematically compare three prominent contributions in this field. Using a common data set, a common specification, and common estimation methods, we...
Persistent link: https://www.econbiz.de/10011397221
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Exchange rate regimes and macroeconomic stability : the case of Sweden 1972-1996
Bergvall, Anders - 2002
In this paper I investigate the relevance of the exchange rate regime for macroeconomic stability. I simulate hypothetical macroeconomic developments under different regimes in Sweden during the period 1972 -1996. The main question is how stable output would have been if Sweden had had a...
Persistent link: https://www.econbiz.de/10011587722
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Understanding the crisis in emerging Europe
Berglöf, Erik; Korniyenko, Yevgeniya; Plekhanov, Alexander - 2009
Despite the large output declines suffered by emerging Europe in 2008-09, a major currency and banking crisis was avoided. This paper argues that European economic and political integration was a mitigating factor in this. Cross-border banking groups, in particular, seem to have forestalled a...
Persistent link: https://www.econbiz.de/10003916261