Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs
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Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs
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Author : Martín Uribe
language : en
Publisher:
Release Date : 1997
Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs written by Martín Uribe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Consumption (Economics) categories.
Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 1997
Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs
DOWNLOAD
Author : Martin Uribe
language : en
Publisher:
Release Date : 1997
Habit Formation And The Comovement Of Prices And Consumption During Exchange Rate Based Stabilization Programs written by Martin Uribe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Consumption (Economics) categories.
The Price Consumption Puzzle Of Currency Pegs
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Author : Martín Uribe
language : en
Publisher:
Release Date : 2008
The Price Consumption Puzzle Of Currency Pegs written by Martín Uribe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
A defining stylized fact associated with exchange-rate-based stabilization programs is that their initial phase is characterized by several years of continuous expansion in private consumption and a gradual appreciation of the real exchange rate. This paper shows that a large class of standard optimizing models is unable to account for this empirical regularity. In particular, models in this class predict that a gradual appreciation of the real exchange rate must necessarily be accompanied by a declining path of consumption. The paper then suggests several possible solutions to this problem and develops one in detail. Namely, the relaxation of the assumption of time separability in preferences. Specifically, it shows that under habit formation currency pegs induce a positive comovement between consumption and the real exchange rate. The paper also establishes that habit formation provides an explanation for why in failed currency pegs a contraction in aggregate demand sets in before the collapse of the program.
Open Economy Macroeconomics
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Author : Martín Uribe
language : en
Publisher: Princeton University Press
Release Date : 2017-04-04
Open Economy Macroeconomics written by Martín Uribe and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-04 with Business & Economics categories.
A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
International Finance Discussion Papers
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Author :
language : en
Publisher:
Release Date : 1998
International Finance Discussion Papers written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with International finance categories.
Some Multi Country Evidence On The Effects Of Real Exchange Rates On Output
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Author : Steven Kamin
language : en
Publisher:
Release Date : 1997
Some Multi Country Evidence On The Effects Of Real Exchange Rates On Output written by Steven Kamin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Devaluation of currency categories.
Evaluating Forecasts Of Correlation Using Option Pricing
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Author : Michael S. Gibson
language : en
Publisher:
Release Date : 1997
Evaluating Forecasts Of Correlation Using Option Pricing written by Michael S. Gibson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Assets (Accounting) categories.
U S Monetary Policy And Econometric Modeling
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Author : Hali J. Edison
language : en
Publisher:
Release Date : 1998
U S Monetary Policy And Econometric Modeling written by Hali J. Edison and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Monetary policy categories.
Relative Price Volatility
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Author : Charles Engel
language : en
Publisher:
Release Date : 1998
Relative Price Volatility written by Charles Engel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Canada categories.
We reexamine the effect of the U.S./Canadian border on integration of markets. The paper updates work from our earlier paper, Engel and Rogers(1996). We consider alternative measures of deviations from the law of one price. We pay special attention to the effect of the U.S-Canada free trade agreement on market integration. Our conclusions are unchanged: markets in the U.S. and Canada are more segmented than can be explained by the physical distance between the two locations. Formal trade barriers do not appear to explain much of that segmentation.
