Applying the VAR model and using the Treasury bill rate as a monetary policy tool, we find that in the long run, output for Singapore responds positively to a shock to lagged own output and negatively to an innovation to the Treasury bill rate, government debt as a percent of GDP, appreciation...

We provide three sets of variance decompositions on microeconomic international relative price data. The first shows that the overall distribution of absolute deviations from the Law of One Price (LOP) is dominated by cross-sectional variation in long-term averages, not by time-series variation...

We apply a Ramsey-type analysis to a standard sticky price, small open economy model, examining the welfare implications of optimal capital controls under fixed exchange rates and optimal monetary policy under flexible exchange rates. We show that capital controls can significantly reduce the...

This article adresses the issue of the economic irrationality, political unreasonableness, and social unsustenability of financial globalization. Firstly it tackles the reasons for breaking off with financial globalization that can be inferred from its self-referential functioning which has been...

This article considers factors and conditions slowing growth of the Russian economy. Its recovery growth after the crisis of 2008—2009 is over. The limit of rapid growth through the export of raw materials has now been reached. Reducing flows of financial resources from the rest of the world...

This paper examines the effects of internal (or regional) vs. external (inter-regional) integration and of trade vs. financial integration on regional business cycle synchronization in Asia. The empirical results show the following: (1) similar and strong common external linkages have...

Книга посвящена актуальным вопросам экономической интеграции государств- участников Содружества Независимых Государств. На основе анализа зарубежной...

Цель данной книги - освещение проблем теории создания и развития крупных корпоративных систем, возникающих в результате интегрирования финансового и...

Due to the rapid appreciation of RMB, the consistent declining of the US economy and other uncertain factors, China’s export volume to the United States has declined. The paper first chooses six industries to divide them into three groups based on per capita possession of capital, then employs...

The issue of short-term competitiveness, i.e. price and cost competitiveness, has moved to center stage in the economic policy debate amid the economic crisis. Within the Eurosystem, the various indicators that are used to monitor short-term competitiveness are revised at regular intervals by...