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Do financial frictions call for policy cooperation? This paper investigates the implications of financial frictions for monetary policy in the open economy. Welfare analysis shows that there are long-run gains which result from cooperation, but, dynamically, financial frictions per se do not...
Persistent link: https://www.econbiz.de/10013072333
Do financial frictions call for policy cooperation? This paper investigates the implications of financial frictions for monetary policy in the open economy. Welfare analysis shows that there are long-run gains which result from cooperation, but, dynamically, financial frictions per se do not...
Persistent link: https://www.econbiz.de/10012951341
Do financial frictions call for policy cooperation? This paper investigates the implications of financial frictions for monetary policy in the open economy. Welfare analysis shows that there are long-run gains which result from cooperation, but, dynamically, financial frictions per se do not...
Persistent link: https://www.econbiz.de/10013062366
Persistent link: https://www.econbiz.de/10012798256
Migrants’ remittances are an important financial flow to their country of origin. Remittances sent by migrants reduce … private consumption and their investments. This paper aims to analyse the impact of remittances on economic growth, private … countries collected for the period between 1989 and 2015. Using a panel data set , our results show that migrants’ remittances …
Persistent link: https://www.econbiz.de/10011793525
. The role of Fed policy for remittances has not yet been studied. We estimate a series of panel local projections for …
Persistent link: https://www.econbiz.de/10012694427
to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …
Persistent link: https://www.econbiz.de/10008909031
to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …
Persistent link: https://www.econbiz.de/10013068346
In this paper, we examine capital account openness and exchange rate flexibility in 11 Asian economies. Asia has made slow progress in de jure capital account openness, but has made much more progress in de facto capital account openness. While there has been a gradual increase in exchange rate...
Persistent link: https://www.econbiz.de/10003983122
Persistent link: https://www.econbiz.de/10009764530