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IMF's assistance : devil's kiss or guardian angel?

Brandes, Julia (contributor); Schüle, Tobias (contributor) - 2007

. Extending Morris and Shin (2006), we consider that the IMF's intervention policy usually exerts a signaling effect on private …'s signaling ability, our results state that repeated intervention is required to bail out a country, where by additional … assistance may induce moral hazard on the debtor side. Contrarily, if the IMF exerts a strong signaling effect, one single …

Persistent link: https://www.econbiz.de/10003636488

The EMU consolidation game - or: does 3.0 really mean 3.0?

Heinemann, Friedrich - 1998

Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...

Persistent link: https://www.econbiz.de/10011441024

Signaling Credibility? The IMF and Catalytic Finance

Edwards, Martin S. - 2007

IMF programs are thought to function as a seal of approval to international markets, though evidence suggests Fund programs do not attract capital inflows. Existing studies fail to address the effects of selection into IMF programs, which raises questions about the robustness of the findings....

Persistent link: https://www.econbiz.de/10012776110

On the robustness of the trade-inducing effects of trade agreements and currency unions

Roy, Jayjit - In: Empirical economics : a journal of the Institute for … 47 (2014) 1, pp. 253-304

Persistent link: https://www.econbiz.de/10010380618

Bimetallism and its discontents : cooperation and coordination failure in the empire's monetary politics, 1549-59

Volckart, Oliver - In: Vierteljahrschrift für Sozial- und … 105 (2018) 2, pp. 201-220

Persistent link: https://www.econbiz.de/10012028196

Money-financed fiscal programs : a cautionary tale

English, William B.; Erceg, Christopher J.; … - 2017

A number of prominent economists and policymakers have argued that money-ﬁnanced ﬁscal programs (helicopter drops) could be eﬃcacious in boosting output and inﬂation in economies facing persistent economic weakness, very low inﬂation, and signiﬁcant ﬁscal strains. We employ a...

Persistent link: https://www.econbiz.de/10011709425

Chapter 31. Fiscal Multipliers : Liquidity Traps and Currency Unions

Farhi, E.; Werning, I. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2417-2492). 2016

We provide explicit solutions for government spending multipliers during a liquidity trap and within a fixed exchange regime using standard closed and open-economy New Keynesian models. We confirm the potential for large multipliers during liquidity traps. For a currency union, we show that...

Persistent link: https://www.econbiz.de/10014024261

Many unions, one estimate? : disaggregating the currency union effect on trade

Kopecky, Joseph - In: Emerging markets, finance & trade : a journal of the … 59 (2023) 10, pp. 3293-3315

Persistent link: https://www.econbiz.de/10014321096

Macroeconomic regime switches and speculative attacks

Maćkowiak, Bartosz (contributor) - 2006

This paper explains a currency crisis as an outcome of a switch in how monetary policy and fiscal policy are coordinated. The paper develops a model of an open economy in which monetary policy starts active, fiscal policy starts passive and, in a particular state of nature, monetary policy...

Persistent link: https://www.econbiz.de/10003324417

The economics of a multilateral investment agreement

Che, Jiahua; Willmann, Gerald - 2009

This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement,...

Persistent link: https://www.econbiz.de/10003808670

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