Measuring The Effect Of External Shocks And The Polic Y Response To Them

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Measuring The Effect Of External Shocks And The Polic Y Response To Them

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Author : F. Desmond McCarthy
language : en
Publisher: World Bank Publications
Release Date : 1994

Measuring The Effect Of External Shocks And The Polic Y Response To Them written by F. Desmond McCarthy 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 1994 with Balance of payments categories.

How can the governments in Eastern Europe and developing countries reduce their vulnerability to such shocks? What are the appropriate policy responses? Here is a method for measuring the effect of external shocks on the current account, applied to the Philippines.

The Balance Of Payments Effects Of External Shocks And Of Policy Responses To These Shocks

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Author : Bela Balassa
language : en
Publisher: Development Centre of the Organisation for Economic Co-operation and Development
Release Date : 1981

The Balance Of Payments Effects Of External Shocks And Of Policy Responses To These Shocks written by Bela Balassa and has been published by Development Centre of the Organisation for Economic Co-operation and Development this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Balance of payments categories.

The Transmission Of External Shocks In Asia Country Characteristics And Policy Responses

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Author : Mr.Pragyan Deb
language : en
Publisher: International Monetary Fund
Release Date : 2021-01-08

The Transmission Of External Shocks In Asia Country Characteristics And Policy Responses written by Mr.Pragyan Deb 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 2021-01-08 with Business & Economics categories.

Asian economies are increasingly integrated to the global economy through trade and financial linkages, exposing them to the international financial cycle. This paper explores how external shocks are transmitted to Asian economies and whether the use of policies, such as the monetary policy interest rate, foreign exchange intervention (FXI) and macroprudential measures (MPMs), can mitigate the impact of these external shocks. It uses panel quantile regressions on a sample of 14 Asian advanced and emerging economies (AEs and EMs) to assess the impact of financial and real shocks on investment and GDP growth at the median and 5th percentile tail. It finds that external financial shocks tend to have a larger effect on Asian economies than real shocks, and that the main transmission channels through which shocks are propagated are capital flows (particularly via corporate and bank balance sheets) for EMs, and credit for AEs. It also finds evidence that for Asian EMs, FXI may help dampen the capital flows and real exchange rate channels and mitigate financial shocks in the short run, and monetary policy transmission tends to be relatively weak; meanwhile MPMs can help mitigate the credit channel for both AEs and EMs.

One Shock Many Policy Responses

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Author : Rui Mano
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-17

One Shock Many Policy Responses written by Rui Mano 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 2020-01-17 with Business & Economics categories.

Policymakers have relied on a wide range of policy tools to cope with capital flow shocks. And yet, the effects and interaction of these policies remain under debate, as does the motivation for using them. In this paper, quantile local projections are used to estimate the entire distribution of future policy responses to portfolio flow shocks for 20 emerging markets and understand the variety of policy choices across the sample. To assuage endogeneity concerns, estimates rely on the fact that global capital flows are exogenous from the viewpoint of any one of these countries. The paper finds that: (i) policy responses to capital flow shocks are heterogeneous across countries, fat-tailed—“extreme” responses tend to be more elastic than “typical” responses—and asymmetric—“extreme” responses tend to be more elastic with respect to outflows than to inflows; (ii) country characteristics are linked to policy choices—with cross-country differences in forex intervention relating to the size of balance sheet vulnerabilities and the depth of the forex market; (iii) the use of targeted macroprudential policy and capital flows management measures can help “free the hands” of monetary policy by allowing it to focus more squarely on domestic cyclical developments.

Policy Responses To External Shocks

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Author :
language : en
Publisher:
Release Date : 2005

Policy Responses To External Shocks written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Australia categories.

External Shocks And Policy Adjustments

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Author : Naved Hamid
language : en
Publisher:
Release Date : 1994

External Shocks And Policy Adjustments written by Naved Hamid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.

New Directions In The World Economy

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Author : Bela Balassa
language : en
Publisher: Springer
Release Date : 1989-06-18

New Directions In The World Economy written by Bela Balassa and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-06-18 with Business & Economics categories.

An attempt to assist policy-makers in developing countries to cope with the challenges they face during the rest of the century and beyond. For this purpose it provides information on the experience of developing, developed and socialist countries.

Dynamic Responses To Policy And Exogenous Shocks In An Empirical Developing Country Model With Rational Expectations

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1990-03-01

Dynamic Responses To Policy And Exogenous Shocks In An Empirical Developing Country Model With Rational Expectations written by International Monetary Fund 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 1990-03-01 with Business & Economics categories.

The dynamic responses of a developing economy to a variety of policy and external shocks are studied using an empirical macroeconomic model which embodies rational expectations, perfect capital mobility, and import rationing. These features, which are relatively new in developing-country modelling, prove to be quite important in determining the model’s dynamic properties. This suggests that macroeconomic management in developing countries--such as that involved in short-run stabilization--requires that such features be explicitly taken into account.

The Macroeconomic Effects Of Public Investment

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Author : Mr.Abdul Abiad
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-04

The Macroeconomic Effects Of Public Investment written by Mr.Abdul Abiad 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 2015-05-04 with Business & Economics categories.

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.

Comparative Development Perspectives

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Author : Gustav Ranis
language : en
Publisher: Routledge
Release Date : 2019-03-08

Comparative Development Perspectives written by Gustav Ranis and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-08 with Social Science categories.

This book provides comparative perspectives on problems of economic development in the 1980s. It emphasizes improvements in economic institutions and policies associated with the development process and employs the comparative historical approach to evaluate dimensions of the development process.