Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy
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Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy
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Author : Aarón Tornell
language : en
Publisher:
Release Date : 1995
Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy written by Aarón Tornell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy
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Author : Aaron Tornell
language : en
Publisher:
Release Date : 1995
Money Based Versus Exchange Rate Based Stabilization With Endogenous Fiscal Policy written by Aaron Tornell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
Real Effects Of Exchange Rate Based Stabilization
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Author : Sergio Rebelo
language : en
Publisher:
Release Date : 1995
Real Effects Of Exchange Rate Based Stabilization written by Sergio Rebelo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Deflation (Finance) categories.
This paper uses a unified analytical framework to assess, both qualitatively and quantitatively, the relevance of the different hypotheses that have been proposed to explain the real effects of exchange rate-based stabilizations. The four major hypotheses analyzed are: (i) the supply-side effects associated with an inflation decline; (ii) the perception that the exchange rate peg is temporary; (iii) the fiscal adjustments that tend to accompany the peg; and (iv) the existence of nominal rigidities in wages or prices.
Exchange Rate Based Stabilization
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Author : Mr.A. Javier Hamann
language : en
Publisher: International Monetary Fund
Release Date : 1999-10-01
Exchange Rate Based Stabilization written by Mr.A. Javier Hamann 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 1999-10-01 with Business & Economics categories.
Do exchange-rate-based stabilizations generate distinctive economic dynamics? To address this question, this paper identifies stabilization episodes using criteria that differ from those in previous empirical studies of exchange-rate-based stabilizations. We find that, while some differences can be detected between exchange-rate-based stabilizations and stabilizations where the exchange rate is not the anchor, the behavior of important variables does not appear to differ—especially output growth, which is good in both cases. There is also no evidence that fiscal discipline is enhanced by adopting an exchange-rate anchor, or that there are any systematic differences in the success records of stabilizations that use the exchange rate as a nominal anchor and those that do not.
Money Based Versus Exchange Rate Based Stabilization With Engogenous Fiscal Policy
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Author :
language : en
Publisher:
Release Date : 1995
Money Based Versus Exchange Rate Based Stabilization With Engogenous Fiscal Policy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
Stabilization With A Binding Budget Constraint Under Monetary And Exchange Rate Rules
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Author : Leonardo Auernheimer
language : en
Publisher:
Release Date : 1983
Stabilization With A Binding Budget Constraint Under Monetary And Exchange Rate Rules written by Leonardo Auernheimer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Budget categories.
On The Benefits Of Dollarization When Stabilization Policy Is Not Credible And Financial Markets Are Imperfect
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Author : Enrique G. Mendoza
language : en
Publisher:
Release Date : 2000
On The Benefits Of Dollarization When Stabilization Policy Is Not Credible And Financial Markets Are Imperfect written by Enrique G. Mendoza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Currency substitution categories.
This paper examines two potential benefits that emerging economies may derive from dollarization. First, dollarization may eliminate distortions induced by the lack of credibility of monetary policy. Second, dollarization may weaken financial frictions that result in endogenous credit constraints. The analysis is based on numerical simulations of a two-sector dynamic, stochastic general equilibrium model calibrated to Mexican data. The results indicate that policy uncertainty and credit constraints are very costly distortions. The mean welfare gains of eliminating policy uncertainty range between 6.4 and 9 percent of the trend level of consumption per capita. The mean welfare gain of weakening credit frictions is about 4.6 percent.
Exchange Rate Stabilization Policy And Monetary Target With Endogenous Expectations
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Author : Hans Genberg
language : en
Publisher:
Release Date : 1979
Exchange Rate Stabilization Policy And Monetary Target With Endogenous Expectations written by Hans Genberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with categories.
The Effectiveness Of Fiscal Policy In Stimulating Economic Activity
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Author : Richard Hemming
language : en
Publisher: International Monetary Fund
Release Date : 2002-12
The Effectiveness Of Fiscal Policy In Stimulating Economic Activity written by Richard Hemming 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 2002-12 with Business & Economics categories.
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Nber Macroeconomics Annual 1995
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Author : Ben S. Bernanke
language : en
Publisher: MIT Press
Release Date : 1996
Nber Macroeconomics Annual 1995 written by Ben S. Bernanke and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.