Showing 1 - 10 of 78
This paper analyzes the macroeconomic effects of fiscal and labor market policies in developing countries. The basic framework considers a small open economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency...
Persistent link: https://www.econbiz.de/10014396485
This paper compares the importance of precautionary and mercantilist motives in the hoarding of international reserves by developing countries. Overall, empirical results support precautionary motives; in particular, a more liberal capital account regime increases international reserves....
Persistent link: https://www.econbiz.de/10014402041
Persistent link: https://www.econbiz.de/10001720712
Persistent link: https://www.econbiz.de/10001823172
The purpose of this paper is to explore the implications of the deepening presence of multinationals in emerging markets on the cost of macroeconomic volatility there. We find that macroeconomic volatility has a potentially large impact on employment and investment decisions of multinationals...
Persistent link: https://www.econbiz.de/10012469306
Persistent link: https://www.econbiz.de/10000893878
Persistent link: https://www.econbiz.de/10003714572
Persistent link: https://www.econbiz.de/10003416358
Persistent link: https://www.econbiz.de/10003482016
Using the "trilemma indexes" developed by Aizenman et al. (2008) that measure the extent of achievement in each of the three policy goals in the trilemma - monetary independence, exchange rate stability, and financial openness - this paper examines how policy configurations affect macroeconomic...
Persistent link: https://www.econbiz.de/10003913743