Based on simulations of an original DGE model of the US, Chinese and Euro area economies with financial frictions and various monetary regimes, the paper shows that the contribution of China in global rebalancing should primarily rely on structural policies aiming at reducing aggregate savings...

Após a abertura comercial em 1998, grandes mudanças ocorreram no comércio exterior nacional devido sucessivos choques cambiais aos quais a economia foi exposta. A literatura de referência sugere que grandes choques na taxa de câmbio induzem mudanças persistentes na relação entre a taxa...

Romanian currency market considering the episodic character of linear and/or nonlinear dependencies, between 1999 and 2008. The main conclusion is that profitability of moving average strategies is not constant over time and that is mainly due to linear and nonlinear episodic dependencies. The...

The paper looks at the impact of workers’ remittances on the competitiveness of the receiving economy. It extends existing research that concentrated on the exchange rate effects of remittances, the so-called Dutch disease effect, by adding labour market effects. The results show that the...

The literature on remittances has in the past concentrated on the microeconomic aspects of the remittance process: the determinants of remittances, impact of remittances on household allocation decisions, and their impact on poverty. Only recently has there been more attention on the...

The nominal exchange rate is both a macroeconomic variable equilibrating international markets and a financial asset that embodies expectations and prices risks associated with cross border currency holdings. Recognizing this, we adopt a joint macro-finance strategy to model the exchange rate....

This study investigated the empirical evidence on the effect of exchange rate volatility on foreign direct investment (FDI) in Nigeria, using secondary time series data from1970 to 2004. In doing this, the study utilized the error correction model as well as OLS method of estimation. The results...

The findings of the paper point to the fact that the fixed exchange rate regimes did not operateas an effective shield of protection from currency strains and transformational recessions.

This paper constructs a general quilibrium trade model of a small open economy producing an exported good, an imported good and a non-traded good by using two or more factors of production, one of which, namely capital, is imperfectly internationally mobile.