Inequality The Price Of Nontradables And The Real Exchange Rate
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Inequality The Price Of Nontradables And The Real Exchange Rate
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Author : Hong G. Min
language : en
Publisher: World Bank Publications
Release Date : 2002
Inequality The Price Of Nontradables And The Real Exchange Rate written by Hong G. Min and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Economic development categories.
Even though real exchange rate has an important impact on sustainable export and economic growth for small open economies, its impact on income distribution and transmission mechanism was never investigated. The paper shows that improved income distribution, through its impact on the price of nontradables, is associated with real exchange rate devaluation.
Inequality The Price Of Nontradables And The Real Exchange Rate
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Author : Hong-Ghi Min
language : en
Publisher:
Release Date : 2013
Inequality The Price Of Nontradables And The Real Exchange Rate written by Hong-Ghi Min and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The author provides theoretical and empirical evidence of a negative association between income inequality and real exchange rates. First, he builds a theoretical model showing the transmission mechanism from inequality to real exchange rates. Second, using cross-country data, he demonstrates that the theoretical argument has empirical support. The association is large, significant, and robust to alternative specifications of the reduced form model and estimation methodologies. These findings provide empirical support for Poverty Reduction Strategy Papers, government strategies agreed on with the World Bank that hinge on four major objectives: accelerating equity-based growth, guaranteeing access to basic social services for the poor, expanding opportunities for employment and income-generating activities for the poor, and promoting good governance. The author's analysis indicates that "equity-based growth" and "export-driven growth" are compatible policy goals. But the negative relationship between inequality and real exchange rates does not imply that policies aimed at dramatic redistribution will automatically lead to real depreciation of the domestic currency, improve the external balance, and accelerate economic growth.
Inequality The Price Of Nontradables And The Real Exchange Rate
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Author : Hong G. Min
language : en
Publisher:
Release Date : 2016
Inequality The Price Of Nontradables And The Real Exchange Rate written by Hong G. Min and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Even though real exchange rate has an important impact on sustainable export and economic growth for small open economies, its impact on income distribution and transmission mechanism was never investigated. The paper shows that improved income distribution, through its impact on the price of nontradables, is associated with real exchange rate devaluation. Min provides theoretical and empirical evidence of a negative association between income inequality and real exchange rates. First, he builds a theoretical model showing the transmission mechanism from inequality to real exchange rates. Second, using cross-country data, he demonstrates that the theoretical argument has empirical support. The association is large, significant, and robust to alternative specifications of the reduced form model and estimation methodologies.These findings provide empirical support for Poverty Reduction Strategy Papers, government strategies agreed on with the World Bank that hinge on four major objectives: accelerating equity-based growth, guaranteeing access to basic social services for the poor, expanding opportunities for employment and income-generating activities for the poor, and promoting good governance. The author's analysis indicates that quot;equity-based growthquot; and quot;export-driven growthquot; are compatible policy goals. But the negative relationship between inequality and real exchange rates does not imply that policies aimed at dramatic redistribution will automatically lead to real depreciation of the domestic currency, improve the external balance, and accelerate economic growth.This paper - a product of the Poverty Reduction Group, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to provide theoretical and empirical evidences for the Poverty Reduction Strategy Papers.
Real Exchange Rates And The Prices Of Nontradable Goods
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Author : Stefano Micossi
language : en
Publisher:
Release Date : 1994
Real Exchange Rates And The Prices Of Nontradable Goods written by Stefano Micossi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with European Monetary System (Organization). categories.
Ppp Strikes Back
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Author : Mr. Haroon Mumtaz
language : en
Publisher: International Monetary Fund
Release Date : 2003-04-01
Ppp Strikes Back written by Mr. Haroon Mumtaz and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-04-01 with Business & Economics categories.
We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate half-life fall dramatically, to little more than one year, or significantly below Rogoff''s "consensus view" of three to five years. We show that corrected estimates are consistent with plausible nominal rigidities, thus, arguably, solving the PPP puzzle.
Currencies Commodities And Consumption
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Author : Kenneth W. Clements
language : en
Publisher: Cambridge University Press
Release Date : 2013-01-31
Currencies Commodities And Consumption written by Kenneth W. Clements and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-31 with Business & Economics categories.
Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.
Wage Inequality In Latin America
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Author : Julián Messina
language : en
Publisher: World Bank Publications
Release Date : 2017-12-28
Wage Inequality In Latin America written by Julián Messina and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-28 with Business & Economics categories.
What caused the decline in wage inequality of the 2000s in Latin America? Looking to the future, will the current economic slowdown be regressive? Wage Inequality in Latin America: Understanding the Past to Prepare for the Future addresses these two questions by reviewing relevant literature and providing new evidence on what we know from the conceptual, empirical, and policy perspectives. The answer to the fi rst question can be broken down into several parts, although the bottom line is that the changes in wage inequality resulted from a combination of three forces: (a) education expansion and its eff ect on falling returns to skill (the supply-side story); (b) shifts in aggregate domestic demand; and (c) exchange rate appreciation from the commodity boom and the associated shift to the nontradable sector that changed interfi rm wage diff erences. Other forces had a non-negligible but secondary role in some countries, while they were not present in others. These include the rapid increase of the minimum wage and a rapid trend toward formalization of employment, which played a supporting role but only during the boom. Understanding the forces behind recent trends also helps to shed light on the second question. The analysis in this volume suggests that the economic slowdown is putting the brakes on the reduction of inequality in Latin America and will likely continue to do so—but it might not actually reverse the region’s movement toward less wage inequality.
The 2008 Global Financial Crisis In Retrospect
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Author : Robert Z. Aliber
language : en
Publisher: Springer
Release Date : 2019-06-01
The 2008 Global Financial Crisis In Retrospect written by Robert Z. Aliber and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-01 with Business & Economics categories.
This book addresses the causes and consequences of the international financial crisis of 2008. A range of esteemed contributors explore developments in the United States, where the crisis of 2008 originated, as well as the smallest country affected, Iceland, by evaluating developments since 2008. Currently, many countries are facing similar problems as Iceland did in 2008: this book is of interest to economists and policy makers in these countries to study what happened in Iceland, and why the recovery of that economy was strong and swift. The chapters in this book originate from panel discussions and conferences and explore areas including regulation, state projects and inflation.
Exchange Rate Economics
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Author : Ronald MacDonald
language : en
Publisher: Routledge
Release Date : 2005
Exchange Rate Economics written by Ronald MacDonald and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Foreign exchange categories.
''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
The Political Economy Of International Finance In An Age Of Inequality
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Author : Gerald A. Epstein
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018
The Political Economy Of International Finance In An Age Of Inequality written by Gerald A. Epstein and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Electronic books categories.
The essays in this book describe and analyze the current contours of the international financial system, covering both developed and developing countries, and focusing on the ways in which the current international financial system structures, and is affected by, profound inequalities in the international system. This keen analysis of key topics in international finance takes a heterodox perspective, with focus on the role of inequalities in power in shaping the structure and outcomes in the international sphere.