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Adjustment of global imbalances: Illustrative scenarios for Hungary
Hornok, Cecília; Jakab, Zoltán M.; Tóth, Máté Barnabás - 2007
In this study we examine the impact on Hungary of a possible correction of global imbalances. We distinguished four different channels of the global adjustment process, which are widely referred to in the literature (fiscal tightening in the U.S.; housing price correction in the US; an increase...
Persistent link: https://www.econbiz.de/10010322406
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Consequences of global imbalance corrections for Hungary
Jakab, Zoltán M. - In: MNB Bulletin 1 (2006) 2, pp. 27-34
There are numerous signs of the emergence of global imbalances in world economy. This is reflected by the fact that of the developed countries the USA is producing a substantial, historically unprecedented magnitude of current account deficit vis-a-vis the current account surplus of a...
Persistent link: https://www.econbiz.de/10005146766
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Adjustment of global imbalances : illustrative scenarios for Hungary
Hornok, Cecília; Jakab, M. Zoltán; Barnabás Tóth, Máté - 2007
premium on forint denominated assets. -- monetary policy ; global inbalalnces ; forecasting ; simulation …
Persistent link: https://www.econbiz.de/10009350034
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Channels for Narrowing the US Current Account Deficit and Implications for Other Economies
Brook, Anne-Marie - 2004
In this paper the OECD’s interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US...
Persistent link: https://www.econbiz.de/10012444349
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Channels for Narrowing the US Current Account Deficit and Implications for Other Economies
Brook, Anne-Marie; Sédillot, Franck; Ollivaud, Patrice - Economics Department, Organisation de Coopération et … - 2004
In this paper the OECD’s interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. The shocks considered include dollar depreciation, fiscal consolidation, and an improvement in the non-price competitiveness of US...
Persistent link: https://www.econbiz.de/10005045912
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Excess Reserves and Macroeconomic Instability
Scaramozzino, Pasquale - 2010
This paper is concerned with international reserves. It makes two main points. Firstly, excess reserves cannot be regarded as a substitute for sound fundamentals because the former may destabilize the economic system in the longer term. Secondly, reserve accumulation financed by public debt can...
Persistent link: https://www.econbiz.de/10013139882
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Optimally Controlled Long-Term Stability : Bond Financed Reserves in a Small Open Economy
Lee, Jeo - 2010
This paper is concerned with international reserves where the accumulation of reserves is financed by public debt. Optimally controlled paths are used to illustrate the possibility of long term instability in a small macroeconomic system. The results indicate that reserve accumulation financed...
Persistent link: https://www.econbiz.de/10013141652
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Modelling and Simulation: An Overview
McAleer, Michael; Chan, Felix; Oxley, Les - 2013
The papers in this special issue of Mathematics and Computers in Simulation cover the following topics: improving … underwriters and issuing firms in the Japanese corporate bond market, stochastic life table forecasting: a time-simultaneous fan …, globalization, and innovation: a general equilibrium simulation, whether exchange rates affect consumer prices: a comparative …
Persistent link: https://www.econbiz.de/10010326266
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Modelling and Simulation: An Overview
McAleer, Michael; Chan, Felix; Oxley, Les - Institute of Economic Research, Kyoto University - 2013
The papers in this special issue of Mathematics and Computers in Simulation cover the following topics: improving … underwriters and issuing firms in the Japanese corporate bond market, stochastic life table forecasting: a time-simultaneous fan …, globalization, and innovation: a general equilibrium simulation, whether exchange rates affect consumer prices: a comparative …
Persistent link: https://www.econbiz.de/10010860080
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Modeling and Simulation: An Overview
McAleer, Michael; Chan, Felix; Oxley, Les - Department of Economics and Finance, College of … - 2013
The papers in this special issue of Mathematics and Computers in Simulation cover the following topics. Improving … underwriters and issuing firms in the Japanese corporate bond market, stochastic life table forecasting. A time-simultaneous fan …, globalization, and innovation. A general equilibrium simulation, whether exchange rates affect consumer prices. A comparative …
Persistent link: https://www.econbiz.de/10010907447