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This paper presents a formal proof of the notion by which a country devoid of tradable assets and without access to foreign borrowing and lending must systematically pay for its imports in foreign currency through its exports alone, provided a demand for them to begin with. It likewise sets...
Persistent link: https://www.econbiz.de/10014303265
The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on...
Persistent link: https://www.econbiz.de/10013024429
The 2017 Spring Meetings coincided with the surprise calling of snap general elections in the UK and military tensions in the Yellow Sea. Our postwar social contract has to cope with unprecedented shocks: Britain's thorny withdrawal from the EU, worsening Migrant Crisis, rise in populist...
Persistent link: https://www.econbiz.de/10012853368
Economic Forum (SEF). ESG, impact investing, renewable energy and the notion of green growth are also discussed by the co …-termism, at the expense of long-term investment and patient capital.”Australia has seen much interest in privatisation of public … functions/assets. This has increased opportunities for private investment in infrastructure. It has, however, raised political …
Persistent link: https://www.econbiz.de/10013239026
While the renegotiation of the North American Free Trade Agreement has received far more attention, a lesser-known U.S. trade deal has also been reworked. In April of 2017, President Trump proclaimed his displeasure with the Korea-U.S. Free Trade Agreement (commonly referred to as “KORUS”),...
Persistent link: https://www.econbiz.de/10014102809
The finding of Feldstein and Horioka (1980) that domestic saving and domestic investment are highly correlated across … and that the Feldstein-Horioka Finding of domestic saving and domestic investment being highly correlated across countries …
Persistent link: https://www.econbiz.de/10014530303
, growth, instability and crises. We take a macroeconomic perspective and examine four channels of transmission of … financialisation to the macroeconomy: first, the effect on income distribution, second, the effects on investment in capital stock … income at the expense of the labour income share and depressed investment in capital stock, each a major feature of …
Persistent link: https://www.econbiz.de/10010242861
conventional trade channel. We analyze whether the effective exchange rate affects GDP growth, the domestic credit and the global … liquidity measure as the credit in foreign currencies, and how global liquidity affects GDP growth. We make use of local … find that domestic appreciations increase demand regarding foreign credit, implying positive effects on investment and GDP …
Persistent link: https://www.econbiz.de/10012607883
Member countries of the Organisation of Petroleum Exporting Countries (OPEC) are always in the news regarding the prices and supply of crude oil to the international market. One of the economic reasons for this is liquidity and the desire to accumulate international reserves by the respective...
Persistent link: https://www.econbiz.de/10013407466
propelling these economies to miracle-level growth. Just as Bastiat observed, the case made by free trade critics in favor of …
Persistent link: https://www.econbiz.de/10012846238