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Country Risk and the Mundell-Fleming Model Applied to the 1999-2000 Argentine Experience

Ortíz, Javier; Rodríguez, Carlos A. - In: Journal of Applied Economics V (2002) November, pp. 327-348

In this paper we propose a modification of the traditional Mundell-Fleming model. The extended model introduces the implications of including the fiscal deficit and international reserves as determinants of the level of country risk. This slight modification of the traditional paradigm leads to...

Persistent link: https://www.econbiz.de/10005168923

PERESTROIKA AND RUBLE CONVERTIBILITY

Feige, Edgar L. - EconWPA - 2004

This paper examines the role of money in market and centrally planned economies. It then proposes a program and sequence of institutional, macroeconomic and monetary reform aimed at achieving a stable transition. An egalitarian redistribution of the state's custodial assets to its citizens is...

Persistent link: https://www.econbiz.de/10005407703

How the gold standard functioned in Portugal: an analysis of some macroeconomic aspects

Duarte, António Portugal; Andrade, João Sousa - EconWPA - 2005

principle of free gold convertibility was abandoned in 1891. For the purposes of a macroeconomic study, we also extended the …

Persistent link: https://www.econbiz.de/10005412543

El Plan de Convertibilidad y la economía argentina (1991-1999)

Rapoport, Mario - In: Revista Economia e Sociedade 15 (2000) 1, pp. 33-33

The accumulation process based on the financial valuation started to give signs of being unmistakably worn out in Argentina at the end of the 80´s. This accumulation regime had been established from the financial reform of 1977 and the trade opening of 1979. It was characterized by a fierce...

Persistent link: https://www.econbiz.de/10004988706

Uma avaliação crítica da proposta de conversibilidade plena do real

Ferrari-Filho, Fernando; Jr, Frederico G. Jayme; Lima, … - Centro de Desenvolvimento e Planejamento Regional … - 2004

This paper aims at discussing critically Pérsio Arida’s proposal of adopting currency convertibility in Brazil. Arida … (2003a, 2003b, 2004) points out that currency convertibility would make for lower interest rates in Brazil, as well as for … lower interest rates for the Brazilian external bonds. Besides, currency convertibility would stabilize capital flows, as …

Persistent link: https://www.econbiz.de/10004989661

The Evolution of Paper Money

Levintal, Oren; Zeira, Joseph - C.E.P.R. Discussion Papers - 2009

This paper tells the story of how paper money evolved as a result of lending by banks. While lending commodity money requires holding large reserves of commodity money to ensure liquidity, issuing convertible paper money reduces these costs significantly. The paper also examines the possibility...

Persistent link: https://www.econbiz.de/10005039577

How the Gold Standard Functioned in Portugal: An Analysis of Some Macroeconomic Aspects

Duarte, António Portugal; Andrade, João Sousa - Grupo de Estudos Monetários e Financeiros (GEMF), … - 2004

gold standard, in 1854, and it adhered to it for quite a long time. The principle of free gold convertibility of the …

Persistent link: https://www.econbiz.de/10005067718

The Origins of a Paper Money Economy - the Case of Norway

Øksendal, Lars Fredrik - 2009

, convertibility in 1842 linked the domestic currency with international money at fixed rates, but had hardly any bearing on the …

Persistent link: https://www.econbiz.de/10012143730

Convertibility restriction in China s foreign exchange market and its impact on forward pricing

Wang, Yi David - 2012

In contrast to the well established markets such as the dollar-euro market, recent CIP deviations observed in the onshore dollar-RMB forward market were primarily caused by con-version restrictions in the spot market rather than by changes in credit risk and/or liquidity constraint. This paper...

Persistent link: https://www.econbiz.de/10012148683

A Return to the Convertibility Principle? Monetary And Fiscal Regimes in Historical Perspective.

Bordo, Michael D.; Jonung, Lars - Economics Institute for Research (SIR), … - 2000

> In the past, a monetary regime based on the commitment to convertibility of the domestic currency into specie, the … 'convertibility principle', was the prevailing pattern in the world economy. According to this principle, the fiscal regime is … abandoned the 'convertibility principle' and in many countries has been geared towards domestic stabilization goals, especially …

Persistent link: https://www.econbiz.de/10005649131