The Dynamic Optimizing Approach To The Current Account

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The Dynamic-Optimizing Approach to the Current Account

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (12 download)

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Book Synopsis The Dynamic-Optimizing Approach to the Current Account by :

Download or read book The Dynamic-Optimizing Approach to the Current Account written by and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The organization of this paper is as follows. Section I builds an empirically implementable model of the current account. Likewise, Section II derives the essential time series properties of the real exchange rate. Positive implications of the intertemporal approach against panel and international cross section data are analyzed in Section III. Section IV brings out evidence relevant for the normative implications of the intertemporal approach, highlighting the role of taxes and incentives, capital controls, and convergence of growth rates. Section, concludes.

The Dynamic-optimizing Approach to the Current Account

Author : Assaf Razin
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Dynamic-optimizing Approach to the Current Account by : Assaf Razin

Download or read book The Dynamic-optimizing Approach to the Current Account written by Assaf Razin and published by . This book was released on 1993 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The organization of this paper is as follows. Section I builds an empirically implementable model of the current account. Likewise, Section II derives the essential time series properties of the real exchange rate. Positive implications of the intertemporal approach against panel and international cross section data are analyzed in Section III. Section IV brings out evidence relevant for the normative implications of the intertemporal approach, highlighting the role of taxes and incentives, capital controls, and convergence of growth rates. Section, concludes.

The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities

Author : Robert Miguel W. K. Kollman
Publisher : International Monetary Fund
ISBN 13 : 1451928521
Total Pages : 52 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities by : Robert Miguel W. K. Kollman

Download or read book The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities written by Robert Miguel W. K. Kollman and published by International Monetary Fund. This book was released on 1997-01-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G-7 effective exchange rates during the post-Bretton Woods era. The model predicts that a positive domestic money supply shock lowers the domestic nominal interest rate, that it raises output and that it leads to a nominal and real depreciation of the country’s currency. Increases in domestic labor productivity and in the world interest rate too are predicted to induce a nominal and real exchange rate depreciation.

“The” Dynamic-optimization Approach to the Current Account

Author : Asaf Razin
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis “The” Dynamic-optimization Approach to the Current Account by : Asaf Razin

Download or read book “The” Dynamic-optimization Approach to the Current Account written by Asaf Razin and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Current Account Dynamics

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451955375
Total Pages : 54 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Current Account Dynamics by : International Monetary Fund

Download or read book Current Account Dynamics written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-09-28 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper demonstrates how a full-blown optimizing model of the dynamics of the current account can be reduced to a small-scale collection of reduced-form relations capable of implementing a rich set of macro-economic simulations. Emphasizing the role of shocks to productivity, labor employment, world rate of interest, and tax revenues the analysis can account for movements in trade imbalances, and the decline in private saving and investment observed recently in developed open economies.

What Determines the Current Account? a Cross-Sectional and Panel Approach

Author : Mr.Hamid Faruqee
Publisher : International Monetary Fund
ISBN 13 : 1451966709
Total Pages : 42 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis What Determines the Current Account? a Cross-Sectional and Panel Approach by : Mr.Hamid Faruqee

Download or read book What Determines the Current Account? a Cross-Sectional and Panel Approach written by Mr.Hamid Faruqee and published by International Monetary Fund. This book was released on 1996-06-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses cross-section and panel data to examine the determinants of the current account. The empirics find a significant impact of the stage of development and demographic factors in the cross section. Estimating partial-adjustment and error-correction models using panel data, the paper finds a short- and long-run impact of fiscal policy on the current account in the time series. The real exchange rate, the business cycle and the terms of trade are also shown to have short-run effects on the current account, while the stage of development and demographics have longer-run effects.

Understanding Interdependence

Author : Peter B. Kenen
Publisher : Princeton University Press
ISBN 13 : 0691231133
Total Pages : 566 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Understanding Interdependence by : Peter B. Kenen

Download or read book Understanding Interdependence written by Peter B. Kenen and published by Princeton University Press. This book was released on 2021-06-08 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing together new papers by some of today's leading figures in international economics and finance, Understanding Interdependence surveys the current state of knowledge on the international monetary system and, by implication, defines the research horizon for the future. Covering topics including the behavior of exchange rates, the choice of exchange-rate regime, current-account adjustment in classical and Keynesian models, the extent and effects of capital mobility, international debt, the stabilization and reform of the formerly planned economies, European monetary union, and international policy coordination, the book underscores the importance of these subjects and identifies lessons for policymakers. The contributors to the volume are Michael Bruno, Ralph C. Bryant, Richard N. Cooper, Michael P. Dooley, Barry Eichengreen, Stanley Fischer, Charles A. E. Goodhart, Peter Hooper, Peter B. Kenen, Paul R. Krugman, Henri Lorie, Jaime Marquez, Ronald I. McKinnon, Michael Mussa, Maurice Obstfeld, John Odling-Smee, Assaf Razin, Dani Rodrik, Mark P. Taylor, and John Williamson.

Current Accounts

Author : Mr.Fabio Scacciavillani
Publisher : International Monetary Fund
ISBN 13 : 1451849214
Total Pages : 42 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Current Accounts by : Mr.Fabio Scacciavillani

Download or read book Current Accounts written by Mr.Fabio Scacciavillani and published by International Monetary Fund. This book was released on 1998-05-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys the main theoretical approaches for analyzing movements in the current account of the balance of payments, from the Mundell-Fleming paradigm to modern intertemporal approaches. It discusses the main implications of these analyses for policymaking, highlighting that modern economic theory views current account imbalances not simply as a reflection of goods market developments, but also as an outcome of intertemporal consumption and investment choices and associated capital market behavior. To reflect on the policy strategies applied under diverse circumstances, the paper analyzes the recent experiences of Italy, Israel, and Pakistan.

Terms of Trade Shocks and the Current Account

Author : Mr.Paul Cashin
Publisher : International Monetary Fund
ISBN 13 : 145197504X
Total Pages : 41 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Terms of Trade Shocks and the Current Account by : Mr.Paul Cashin

Download or read book Terms of Trade Shocks and the Current Account written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1998-12-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between terms of trade shocks, private saving, and the current account position. The relationship between these variables is theoretically ambiguous: an adverse transitory terms of trade shock can either induce a deterioration or an improvement in the current account, depending on whether the resulting income effects are greater or less than the resulting substitution effects. The substitution effects involve both intertemporally substituting consumption and intratemporally substituting consumption between importables and nontradables. The relative strength of these substitution effects is estimated using data for five OECD countries during 1970/95; both are found to exert large and significant effects on the current account balance.

Exchange Rate and Current Account Dynamics with Capital Accumulation

Author :
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (676 download)

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Book Synopsis Exchange Rate and Current Account Dynamics with Capital Accumulation by :

Download or read book Exchange Rate and Current Account Dynamics with Capital Accumulation written by and published by . This book was released on 2001 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Current Account Sustainability

Author : Mr.Gian Milesi-Ferretti
Publisher : International Monetary Fund
ISBN 13 : 1451853297
Total Pages : 50 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Current Account Sustainability by : Mr.Gian Milesi-Ferretti

Download or read book Current Account Sustainability written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1996-10-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of developing countries have run large and persistent current account deficits in both the late seventies/early eighties and in the early nineties, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries-Chile, Colombia Mexico-and three East Asian countries-Korea, Malaysia and Thailand. It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.

The Intertemporal Approach to the Current Account

Author : Maurice Obstfeld
Publisher :
ISBN 13 :
Total Pages : 102 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Intertemporal Approach to the Current Account by : Maurice Obstfeld

Download or read book The Intertemporal Approach to the Current Account written by Maurice Obstfeld and published by . This book was released on 1994 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intertemporal approach views the current-account balance as the outcome of forward-looking dynamic saving and investment decisions. This paper, a chapter in the forthcoming third volume of the Handbook of International Economics, surveys the theory and empirical work on the intertemporal approach as it has developed since the early 1980s. After reviewing the basic one-good, representative- consumer model, the paper considers a series of extended models incorporating relative prices, complex demographic structures, consumer durables, asset-market incompleteness, and asymmetric information. We also present a variety of empirical evidence illustrating the usefulness of the intertemporal approach, and argue that intertemporal models provide a consistent and coherent foundation for open-economy policy analysis. As such, the intertemporal approach should supplant the expanded versions of the Mundell-Fleming IS-LM model that currently furnish the dominant paradigm used by central banks, finance ministries, and international economic agencies.

Working Papers

Author : Peterson Institute for International Economics
Publisher : Peterson Institute
ISBN 13 : 9780881323887
Total Pages : 496 pages
Book Rating : 4.3/5 (238 download)

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Book Synopsis Working Papers by : Peterson Institute for International Economics

Download or read book Working Papers written by Peterson Institute for International Economics and published by Peterson Institute. This book was released on 2006 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perhaps the most popular of all Institute products, selected Working Papers are now available for the first time in a print format. These papers contain the preliminary results of ongoing Institute research. The book is divided into four sections: Trade and the Global Economy, Outsourcing, Asia, and the Middle East. Included in the book are papers by Edwin M. Truman, Morris Goldstein, Gary Clyde Hufbauer, Nicholas R. Lardy, Catherine L. Mann, and Marcus Noland. Volume I contains papers from 2005. Future volumes will be published on a semi-regular schedule as material is available.

Macroeconomics

Author : Errol D'Souza
Publisher : Pearson Education India
ISBN 13 : 9788131708187
Total Pages : 516 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Macroeconomics by : Errol D'Souza

Download or read book Macroeconomics written by Errol D'Souza and published by Pearson Education India. This book was released on 2009-05 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Errol D'Souza's Macroeconomics helps students realize the connections between theoretical frameworks and the actual behaviour of the economy; enables instructors to teach macroeconomics concepts within the context of both the Indian and global economy; and provides policymakers with material from current research in macroeconomics. The focus of the book rests on the analysis of macroeconomic thought in terms of the intuition and underlying logic that forms its basis. This book has been designed to help readers think independently about real-world situations, by helping them master the basic technical tools that enable them to do this. At a conceptual level, the book focuses on the most current and relevant issues, while also understanding the fluidity of the subject.

Handbook of International Economics

Author : Ronald Winthrop Jones
Publisher : Elsevier
ISBN 13 : 0444828648
Total Pages : 896 pages
Book Rating : 4.4/5 (448 download)

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Book Synopsis Handbook of International Economics by : Ronald Winthrop Jones

Download or read book Handbook of International Economics written by Ronald Winthrop Jones and published by Elsevier. This book was released on 1984 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior."--Publisher's information

Intranational Macroeconomics

Author : Gregory D. Hess
Publisher : Cambridge University Press
ISBN 13 : 9780521661638
Total Pages : 342 pages
Book Rating : 4.6/5 (616 download)

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Book Synopsis Intranational Macroeconomics by : Gregory D. Hess

Download or read book Intranational Macroeconomics written by Gregory D. Hess and published by Cambridge University Press. This book was released on 2000-09-11 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings the intranational macroeconomics literature into clearer focus by collecting the strands of research into a common thread.

The Central and Eastern European Countries and the European Union

Author : Michael Artis
Publisher : Cambridge University Press
ISBN 13 : 1139452525
Total Pages : 379 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis The Central and Eastern European Countries and the European Union by : Michael Artis

Download or read book The Central and Eastern European Countries and the European Union written by Michael Artis and published by Cambridge University Press. This book was released on 2006-04-20 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: The accession of ten new members to the European Union on May 1st 2004 was among the most significant developments in the history of European integration. Based upon studies conducted by the European Forecasting Network, this 2006 book analysed key aspects of the impact of this enlargement with reference to eight of the ten new Member States, namely the Central and Eastern European countries (CEECs). It demonstrated that the enlargement had the potential to create profound consequences for both the new Member States and the pre-accession members of the Union, given the unparalleled magnitude of the enlargement, the fact that the CEECs had levels of prosperity and economic development well below the Union average, and their history of participation in centrally planned regimes. The contributions examined regional policy, the debate about accession to the EMU, the macroeconomic trajectories of the Central and Eastern European economies and their likely development.