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Minsky, monetary policy, and mint street : challenges for the art of monetary policymaking in emerging economies

Yanamandra, Srinivas - 2014

This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...

Persistent link: https://www.econbiz.de/10010436173

Predicting Fiscal Crises

Cerovic, Svetlana - 2018

This paper identifies leading indicators of fiscal crises based on a large sample of countries at different stages of development over 1970-2015. Our results are robust to different methodologies and sample periods. Previous literature on early warning sistems (EWS) for fiscal crises is scarce...

Persistent link: https://www.econbiz.de/10012912485

The fiscal footprint of macroprudential policy

Reis, Ricardo - 2020

Monetary policy leaves a fiscal footprint. In some circumstances, relieving the fiscal burden becomes the main goal of policy, and inflation control is subordinate. This article notes that the same is true of macroprudential policy, and it characterizes the size and sign of its fiscal footprint,...

Persistent link: https://www.econbiz.de/10012222608

Public debt tipping point studies ingnore how exchange rate changes may create a financial meltdown

Pope, Robin; Selten, Reinhard - 2011

In studies concluding that public debt may hamper GDP, the debt tipping effects are estimated as if there were a single world currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do not...

Persistent link: https://www.econbiz.de/10009748247

Currency wars, not public debt, may create a financial meltdown : conference paper

Pope, Robin; Selten, Reinhard - 2013

In studies concluding that public debt may hamper GDP growth, the debt tipping effects are estimated as if there were a single global currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do...

Persistent link: https://www.econbiz.de/10010340537

OECD forecasts during and after the financial crisis : a post mortem

Pain, Nigel; Lewis, Christine; Dang, Thai Thanh; Jin, Yosuke - 2014

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the...

Persistent link: https://www.econbiz.de/10010374419

Stabilisation and Rebalancing with Fiscal or Monetary Devaluation : A Model-Based Comparison

Vogel, Lukas - 2015

The paper uses a small open economy general equilibrium model to compare fiscal and nominal exchange rate devaluation with respect to their impact on economic activity and the current account. In particular, it investigates to which extent fiscal devaluation mimics nominal exchange rate...

Persistent link: https://www.econbiz.de/10013009764

China in the wake of Asia's financial crisis

Wang, Mengkui (contributor) - 2009

Persistent link: https://www.econbiz.de/10003715885

Crisis, capital flows and FDI in emerging Asia

Rajan, Ramkishen S.; Gopalan, Sasidaran; Hattari, Rabin - 2011

"There has been much interest in understanding various dimensions of the growth and integration of emerging Asia with … integration, and the choice of exchange rate regimes in emerging Asia. The book consists of ten chapters, divided into three … mechanism. While some chapters focus specifically on India, which is one of the new growth stars of Asia, many chapters deal …

Persistent link: https://www.econbiz.de/10009301492

The portfolio theory of inflation and policy (in)effectiveness revisited : corroborating evidence

Bossone, Biagio; Cuccia, Andrea - 2020

This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness … (Bossone, The portfolio theory of inflation and policy (in)effectiveness, 2019). The PTI shows that when an economy is heavily …

Persistent link: https://www.econbiz.de/10012140238

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