Essays On International Macroeconomics And Policy
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Essays In International Macroeconomics And Monetary Policy
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Author : Qianying Chen
language : en
Publisher:
Release Date : 2010
Essays In International Macroeconomics And Monetary Policy written by Qianying Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Essays On International Macroeconomics And Fiscal Policy
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Author : Loukas Karabarbounis
language : en
Publisher:
Release Date : 2010
Essays On International Macroeconomics And Fiscal Policy written by Loukas Karabarbounis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
In all cases, men commit to a career in the market and take less home duties than women. As a result, their market work becomes less substitutable to home duty. When society resolves its distributional concerns efficiently with gender-specific lump sum transfers, GBT with higher marginal tax rates on men is optimal. The third essay examines the relationship between inequality and redistribution in a panel of OECD countries. Using panel data methods that hold constant a variety of determinants of redistributive spending, I find a non-monotonic relationship between pre-tax-and-transfer distribution of income and redistribution. Relative to mean income, a more affluent rich and middle class are associated with less redistribution and a richer poor class is associated with more redistribution. These results are consistent with a one dollar, one vote politico-economic equilibrium: When the income of a group of citizens increases, aggregate redistributive policies tilt towards this group's most preferred policies.
Studies In International Economics And Finance
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Author : Naoyuki Yoshino
language : en
Publisher: Springer Nature
Release Date : 2022-03-30
Studies In International Economics And Finance written by Naoyuki Yoshino and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-30 with Business & Economics categories.
This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the International Macroeconomics section discuss critical topics like aggregate level macro model for India with a new Keynesian perspective, balance of payments, service sector exports, foreign exchange constraints for import demands, foreign direct investment and knowledge spill over, the relationship between forex rate fluctuation and investment, Institutional quality-trade openness-economic growth nexus, currency crises and debt-deficit relationship in the BRICS countries in the backdrop of COVID-19. Apart from these, various analytical issues related to macroeconomic policies are also covered in this section. The topics discussed includes the nature of forex market interventions, the issue of disinvestment and privatization, changing nature of fiscal policy, the inflation-growth nexus, macroeconomic simulation modelling, measuring core inflation, central bank credibility, monetary policy, inflation targeting, Infrastructure, trade, unemployment and inequality nexus. In the International Finance section, topics such as COVID-19 induced financial crisis, commodity futures volatility, stock market connectivity, volatility persistence, determinants of sovereign bond yields, FII and stock market volatility, cryptocurrency price formation, financialization of Indian commodity market, and a Keynesian view of the financial crisis are discussed. Overall, thirty two chapters in the volume discuss cutting edge research in the areas of the two sections. A tour de force... a lucid guide to some of the diverse and complex issues in International Macroeconomics and Finance. This collection of scholarly works is a fitting tribute to respected Prof. Bandi Kamaiah and his enviable academic contributions. - Prof. Y V Reddy, Former Governor, Reserve Bank of India This volume comprising thoughtful essays by our leading scholars on some of important policy issues that India is facing is indeed a rich tribute to Professor Bandi Kamaiah . This book will greatly benefit the academic community as well as our policy makers. - Prof. Vijay Kelkar, Chairman, 13th Finance Commission of India; Chairman, India Development Foundation, Mumbai, India Noted economists from India and abroad gather to apply the rigorous searchlight that Professor Bandi Kamaiah used so effectively in his career. Major current topics in macroeconomics and international finance are effectively explored in the volume. - Prof. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai, India; and Member, Monetary Policy Committee of Reserve Bank of India This volume of 32 papers in macroeconomics, international economics, and international finance is intended as a tribute to the eminent econometrician , Prof B Kamaiah. Post-graduate students and researchers will find much valuable literature in the volume, which is a fitting tribute to Prof Kamaiah. The editors and authors deserve rich compliments. - Prof. K L Krishna, Former Director, Delhi School of Economics, New Delhi, India I am so happy to hear that Dr. Kamaiah's colleagues and ex-students are bringing out a special volume of articles in his honor. Nothing can be more appropriate. Dr. Kamaiah, being a man of tremendous publications, deserves this tribute. I wish all the luck and success to the new book. - Prof. Kishore Kulkarni, Distinguished Professor of Economics, Metropolitan State University of Denver, USA
Essays On International Macroeconomics And Policy
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Author : Tian Xia
language : en
Publisher:
Release Date : 2018
Essays On International Macroeconomics And Policy written by Tian Xia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
As the world economy becomes rapidly integrated through the globalization of markets for goods and services, it is crucial to understand how cross-country linkages through goods and financial markets explain observed business cycles in data. Furthermore, interdependent open economies imply that optimal policy is unlikely to be responding to domestic shocks only. This dissertation studies various aspects of open economies from a macroeconomic perspective and discusses related theoretical policy implications. Chapter 1 investigates the implication of intermediate goods on optimal monetary policy in open economies, and in particular, focusing on the welfare gains from monetary cooperation. In a relatively standard two-country dynamic stochastic general equilibrium model with input-output relations, I demonstrate that introducing intermediate goods can amplify the welfare gains caused by cost-push shocks by an order of magnitude larger. A detailed analysis on the equilibrium dynamics highlights a new channel that is absent in the previous literature: non-cooperative central banks respond differently to shocks in the intermediate goods market versus shocks in the final goods market, even if these shocks generate the same distortions when the two central banks cooperate. Furthermore, I find that increasing the degree of openness in the intermediate goods market can reduce the welfare gains from monetary cooperation. This casts doubt on whether the recent trend in international economic integration may justify the potential need for international monetary cooperation. Chapter 2 develops a simple framework for computing equilibrium shares of trade currency invoicing in open economy dynamic stochastic general equilibrium models. The solution method follows closely to Devereux and Sutherland (2011)'s method in solving portfolio choice by applying information from second-order approximations of equilibrium conditions to solving zero-order portfolio shares. The framework is flexible enough to be extended to a Rotemberg sticky price model. To illustrate the approach, I use a simple symmetric two-country model and show that the results are consistent with existing theoretical findings on how monetary policy affects exchange rate pass-through. Chapter 3 investigates the interaction between inequality and financial development in determining the condition for rational asset bubbles to emerge in general equilibrium. I develop a simple overlapping generations model (OLG) with a production economy and financial frictions, which shows that wage inequality can cause dynamic inefficiency in an economy with an underdeveloped financial sector. Furthermore, the model developed in the chapter indicates that trade integration can create asset bubbles through the channel of increasing inequality. The result is consistent with observations where developing countries with export-led growth seem to experience episodes of bubble-like asset price booms and busts in the last three decades.
Essays In International Macroeconomics
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Author : Xuan Liu
language : en
Publisher:
Release Date : 2007
Essays In International Macroeconomics written by Xuan Liu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
This dissertation consists of two essays in international macroeconomics. The first essay shows that optimal fiscal and monetary policy is time consistent in a standard small open economy. Further, there exist many maturity structures of public debt capable of rendering the optimal policy time consistent. This result is in sharp contrast with that obtained in the context of closed-economy models. In the closed economy, the time consistency of optimal monetary and fiscal policy imposes severe restrictions on public debt in the form of a unique term structure of public debt that governments can leave to their successors at each point in time. The time consistent result is robust: optimal policy is time consistent when both real and nominal bonds have finite horizons. While in a closed economy, governments must have both nominal and real bonds, and have at least real bonds over an infinite horizon to render optimal policy time consistent.
Global Economics In Extraordinary Times
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Author : C. Fred Bergsten
language : en
Publisher: Peterson Institute
Release Date : 2012-11-15
Global Economics In Extraordinary Times written by C. Fred Bergsten and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-15 with Biography & Autobiography categories.
Over five decades, John Williamson has written across an extraordinarily broad set of topics in international economics ranging from international monetary economics to development policy. The arc of his scholarship follows the main preoccupations of international economists during the second half of the 20th century and the first decade of the 21st. Bridging the scholarly literature and policy debates, his publications on the Washington Consensus, exchange rate policy, and international monetary reform have profoundly influenced public discourse, government policy, and the evolution of the economics discipline. As John marked his 75th birthday, his friends and colleagues prepared this collection of essays to celebrate these many contributions and reflect on their relevance to the challenges that confront the world economy in the wake of the 2008 09 global financial crisis and its current aftermath in Europe.
Three Essays In International Macroeconomics
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Author : Ivan Pentchev Tchakarov
language : en
Publisher:
Release Date : 2003
Three Essays In International Macroeconomics written by Ivan Pentchev Tchakarov and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Essays On Applied International Macroeconomics Monetary Policy And Global Finance
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Author : Galina Potjagailo
language : en
Publisher:
Release Date : 2020
Essays On Applied International Macroeconomics Monetary Policy And Global Finance written by Galina Potjagailo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Three Essays In International Macroeconomics
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Author : Mahir Binici
language : en
Publisher:
Release Date : 2010
Three Essays In International Macroeconomics written by Mahir Binici and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Essays In International Macroeconomics
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Author : Rudolfs Bems
language : en
Publisher:
Release Date : 2005
Essays In International Macroeconomics written by Rudolfs Bems and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Macroeconomics categories.