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Author : George M. Agiomirgianakis
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (595 download)
Download or read book Monetary Policy in Small Open Economies and International Labour Mobility written by George M. Agiomirgianakis and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George M Agiomirgianakis
Publisher : Routledge
ISBN 13 : 0429809301
Total Pages : 202 pages
Book Rating : 4.4/5 (298 download)
Download or read book The Macroeconomics of Open Economies Under Labour Mobility written by George M Agiomirgianakis and published by Routledge. This book was released on 2019-05-29 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this study recognises the importance of international labour mobility for modern economics. This is in large part due to its effects on the size, age structure and skills of the labour force, the human flow between countries and the expected rise in scale as a result of income differentials, demographic pressures and differential labour-force growth rates along with developments in transport and communications. These migrations are increasingly volatile and unpredictable, whilst being concentrated in regions like Australia, the USA, Sub-Saharan Africa and Western Europe. Given the extensive literature on the microeconomic view, George M. Agiomirgianakis aims to extend the debate on open economy macroeconomics through an exploration of international labour mobilities and their effects on open economies with flexible exchange rates.
Author : Diana Rose U. Del Rosario
Publisher :
ISBN 13 :
Total Pages : 158 pages
Book Rating : 4.:/5 (778 download)
Download or read book Monetary Policies in a Small Open Economy Model with Labor Mobility and Remittances written by Diana Rose U. Del Rosario and published by . This book was released on 2010 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper presents a model of a small open economy that allows for international labor mobility, thereby endogenizing migrant transfers or remittances. The resulting model is calibrated to the Philippine economy, of which labor migration and remittance inflows are key forces that drive the economy's growth. The model's impulse response functions illustrate that the presence of these features generates a different set of dynamics from the standard small open economy model (without labor mobility). Depending on the source of the shock, labor mobility and remittances can either exacerbate or cushion the impact of the shock on the economy. A temporary and unanticipated rise in the world interest rate leads to a drop in aggregate output in the environment with labor mobility compared to one without. In contrast, an adverse terms-of-trade shock of the same nature affects output less severely in the case with labor mobility. Finally, a welfare cost comparison of different monetary regimes reveals that policies fostering flexible exchange rates bring about welfare gains relative to a baseline policy of inflation targeting that places a small weight on fixing the nominal exchange rate (otherwise known as hybrid flexible inflation targeting). In particular, pegging the monetary base proves to be welfare-superior to six other simple rules, namely: non-traded price inflation, price-level, strict inflation, hybrid flexible inflation, exchange-rate, and export-price targeting (of which the ranking follows the order of enumeration). The ranking is preserved when labor mobility and remittances are absent in the model."--Author's abstract.
Author : George M. Agiomirgianakis
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Monetary Policy Games and International Migration in a Small Open Economy written by George M. Agiomirgianakis and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper shows that international migration may improve the position of both policymakers and unions in small open economies irrespective of whether they cooperate or not. This result implies that both unions and policymakers in small open economies may welcome a further increase in international labor flow in the future. When allowance is made for real GDP per capital considerations on behalf of the policymaker, it is found that aggressive union behavior may increase the inflationary bias. Aggressive unions may insulate themselves, while soft unions lose. The presence of migration does not necessarily lead to a better outcome.
Author : George M. Agiomirgianakis
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (248 download)
Download or read book Monetary Policy Games and International Migration of Labour in a Small Open Economy written by George M. Agiomirgianakis and published by . This book was released on 1999 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344062
Total Pages : 74 pages
Book Rating : 4.4/5 (983 download)
Download or read book Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author : The World Bank
Publisher : World Bank Publications
ISBN 13 : 1464812829
Total Pages : pages
Book Rating : 4.4/5 (648 download)
Download or read book Moving for Prosperity: Global Migration and Labor Markets written by The World Bank and published by World Bank Publications. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Cristina Terra
Publisher : Academic Press
ISBN 13 : 0128025387
Total Pages : 363 pages
Book Rating : 4.1/5 (28 download)
Download or read book Principles of International Finance and Open Economy Macroeconomics written by Cristina Terra and published by Academic Press. This book was released on 2015-06-09 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies presents a macroeconomic framework for understanding and analyzing the global economy from the perspectives of emerging economies and developing countries. Unlike most macroeconomic textbooks, which typically emphasize issues about developed countries while downplaying issues related to developing countries, this book emphasizes problems in emerging economies, including those in Latin American countries. It also explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis. Concentrates on developing country perspectives on International Finance and the Economy, including those in Latin American countries Provides case studies and publicly available data allowing readers to explore theories and their applications Explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis Proposes a unified mathematical model accessible to those with basic mathematical skills
Author : Dani Rodrick
Publisher : Elsevier
ISBN 13 : 0080931723
Total Pages : 1066 pages
Book Rating : 4.0/5 (89 download)
Download or read book Handbook of Development Economics written by Dani Rodrick and published by Elsevier. This book was released on 2009-11-09 with total page 1066 pages. Available in PDF, EPUB and Kindle. Book excerpt: What guidance does academic research really provide to economic policy development? The critical and analytical surveys in this volume investigate links between policies and outcomes by surveying work from broad macroeconomic policies to interventions in microfinance. Asserting that there are no universal correspondences between policies and outcomes, contributors demonstrate instead that only an intense familiarity with the development context and the universe of applicable economic models can generate successful policies. Getting cause-and-effect right is essential for policy design and implementation. With the goal of drawing researchers and policy makers closer, this volume highlights our increasing understanding of ways to combine economic theorizing with careful, thoughtful empirical work. Presents an accurate, self-contained survey of the current state of the field Summarizes the most recent discussions, and elucidates new developments Although original material is also included, the main aim is the provision of comprehensive and accessible surveys
Author : Engelbert Stockhammer
Publisher : Springer
ISBN 13 : 1137357932
Total Pages : 329 pages
Book Rating : 4.1/5 (373 download)
Download or read book Wage-Led Growth written by Engelbert Stockhammer and published by Springer. This book was released on 2013-12-03 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Author : John B. Taylor
Publisher : University of Chicago Press
ISBN 13 : 0226791262
Total Pages : 460 pages
Book Rating : 4.2/5 (267 download)
Download or read book Monetary Policy Rules written by John B. Taylor and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498343694
Total Pages : 61 pages
Book Rating : 4.4/5 (983 download)
Download or read book Conditionality in Evolving Monetary Policy Regimes written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-05-03 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Author : Mr.Jorge A. Chan-Lau
Publisher : International Monetary Fund
ISBN 13 : 1451922442
Total Pages : 20 pages
Book Rating : 4.4/5 (519 download)
Download or read book Monetary Policy in a Small Open Economy with Credit Goods Production written by Mr.Jorge A. Chan-Lau and published by International Monetary Fund. This book was released on 1998-10-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the effects of monetary policy in a dynamic model of a small open economy with cash and credit goods production, where government consumption is financed by seignorage. It shows that the interrelationships between the growth rate of the monetary aggregate and the technological properties of the economy have an important bearing on the existence and uniqueness of equilibrium, the optimal inflation rate, and the occurrence of explosive hyperinflations. In consequence, the paper concludes that monetary policy does matter in the long run.
Author : Peter B. Dixon
Publisher : Newnes
ISBN 13 : 0444536353
Total Pages : 1143 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Author : John Piggott
Publisher : Elsevier
ISBN 13 : 0444634045
Total Pages : 1146 pages
Book Rating : 4.4/5 (446 download)
Download or read book Handbook of the Economics of Population Aging written by John Piggott and published by Elsevier. This book was released on 2016-11-21 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource Presents diverse perspectives on subjects that can be closely associated with national and regional concerns Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging
Author : Ben S. Bernanke
Publisher : www.bnpublishing.com
ISBN 13 : 9781607961055
Total Pages : 0 pages
Book Rating : 4.9/5 (61 download)
Download or read book Monetary Policy Alternatives at the Zero Bound written by Ben S. Bernanke and published by www.bnpublishing.com. This book was released on 2009-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success over the years in reducing inflation and, consequently, the average level of nominal interest rates has increased the likelihood that the nominal policy interest rate may become constrained by the zero lower bound. When that happens, a central bank can no longer stimulate aggregate demand by further interest-rate reductions and must rely on "non-standard" policy alternatives. To assess the potential effectiveness of such policies, we analyze the behavior of selected asset prices over short periods surrounding central bank statements or other types of financial or economic news and estimate "noarbitrage" models of the term structure for the United States and Japan. There is some evidence that central bank communications can help to shape public expectations of future policy actions and that asset purchases in large volume by a central bank would be able to affect the price or yield of the targeted asset.
