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Growth in the CESEE region will follow the unimpressive pattern displayed by the euro area. The longer-term convergence of income levels in the CESEE countries can no longer be expected to be as rapid as was assumed a decade or so ago. Growth in the period 2015-2017 is not going to deviate...
Persistent link: https://www.econbiz.de/10011199940
This paper describes the relationship between central bank interest rates and exchange rates under a capital control regime. Higher interest rates may strengthen the currency by inducing owners of local currency assets not to sell local currency off shore. There is also an effect that goes in...
Persistent link: https://www.econbiz.de/10011416139
This paper describes the relationship between central bank interest rates and exchange rates under a capital control regime. Higher interest rates may strengthen the currency by inducing owners of local currency assets not to sell local currency offshore. There is also an effect that goes in the...
Persistent link: https://www.econbiz.de/10011498081
This paper describes the relationship between central bank interest rates and exchange rates under a capital control regime. Higher interest rates may strengthen the currency by inducing owners of local currency assets not to sell local currency off shore. There is also an effect that goes in...
Persistent link: https://www.econbiz.de/10011415751
This paper describes the relationship between central bank interest rates and exchange rates under a capital control regime. Higher interest rates may strengthen the currency by inducing owners of local currency assets not to sell local currency offshore. There is also an effect that goes in the...
Persistent link: https://www.econbiz.de/10011493526
This paper derives the relationship between central bank interest rates and exchange rates under a capital control regime. Higher interest rate may strengthen the currency by reducing consumption and imports and by inducing foreign owners of local currency assets not to sell local currency off...
Persistent link: https://www.econbiz.de/10011124095
The USAGE model for the United States is used to quantify economic costs due to stock mispricing, made operational by shocking Tobin's q. The simulations quantify a potentially large impact even in the most favorable environment, where export demand holds up, and, the dollar is pro cyclical. A...
Persistent link: https://www.econbiz.de/10008642297
This article updates one of four trends in the US economy which were highlighted in a previous paper "Whither the US economy" published in 1999 in this Review. It focuses on the developments in the external accounts. In addition to showing a rapid increase in the negative US current account...
Persistent link: https://www.econbiz.de/10010752501
This article updates one of four trends in the US economy which were highlighted in a previous paper "Whither the US economy" published in 1999 in this Review. It focuses on the developments in the external accounts. In addition to showing a rapid increase in the negative US current account...
Persistent link: https://www.econbiz.de/10010752550
After experiencing high and persistent inflation for more than two decades, Turkey is entering a period of single-digit inflation again. Following a summary of the macroeconomic developments occurred since early 1970s, this paper attempts to survey the empirical literature both on the dynamics...
Persistent link: https://www.econbiz.de/10005561273