This paper is a discussion of the economic geography of Australia. It provides a history of foreign investment in mining, and discusses several resources booms that shaped the landscape of the continent and the role of governments (state, federal and territory governments) in this process. The...

The primary manifestation of the demographic transition in a modern economic context is through ageing and the primary transmission from ageing to the macro economy is through its effect on saving and investment behavior. These two effects taken together suggest a strong impact from the...

Indian share market has never been like this. Market indexes have appreciated in an unprecedented manner since June 2006 and are creating new records of attaining altitudes that were beyond dreams a couple of years back. Media and Government never give up the opportunity of going gala over new...

Prior to the Asian crisis, benign liquidity conditions contributed to credit expansion and overinvestment in the East Asian economies until they were hit by a deep recession (Saxena and Wong 2002). Similarly to the developments in the tiger economies in the nineties, the CEE economies grew...

The EMU accession countries are obliged to fulfill the Maastricht convergence criteria prior to entering the EMU. What should be the optimal monetary policy satisfying these criteria? To answer this question, the paper proposes a DSGE model of a two-sector small open economy. First, I derive the...

This paper discusses how Malaysia manages the impossible trinity, the conjecture that a country cannot simultaneously maintain an open capital account, an exchange rate stability and monetary policy independence. Only two out of these three goals can be mutually consistent and policy makers have...

This paper studies the long-run welfare effect of the extra volatility of country spread due to the possibility of sudden stops. Both analytical and numerical results show that sudden stops have weaker output impact when the small open economy is more open to trade. However, welfare consequences...

This paper analyzes the trade policy when country spread becomes more volatile due to the possibility of sudden stops. Both analytical and numerical results show that sudden stops have weaker output impact when the small open economy is more open to trade; however, this does not imply the...

Following Jeske's (2006) decentralized international risk sharing arrangement where residents have access to international capital markets, this paper studies the presence of resident default risk on borrowing happened between domestic agents, in addition to default risk on private debt...

This paper studies the effects of private debts on risk sharing and welfare, in which I assume individual residents have access to both international and domestic capital markets. Like Jeske (2006), I make the assumption that domestic residents cannot commit to repay their debts across border....