Results 1 to 10 of about 82,570 (45)
International Capital Flows: Private Versus Public Flows in Developing and Developed Countries
Social Science Research Network, 2022 Empirically, net capital inflows are pro-cyclical in developed countries and countercyclical in developing countries. That said, private inflows are pro-cyclical and public inflows are counter-cyclical in both groups of countries.
Yun Jung Kim, Jing Zhang
semanticscholar +1 more source
Trade Balance and Exchange Rate: The J-Curve
Journal of Applied Finance and Banking, 2022 The objective of this paper is to test empirically the effect of a devaluation of a currency on the trade account of the country, the J-curve effect, by using the trade between the U.S.
Ioannis N. Kallianiotis
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The Hedging Channel of Exchange Rate Determination
International Finance Discussion Paper, 2020 We propose the currency hedging channel that connects countries’ external imbalances to their exchange rate behavior. We present a model in which investors increase their currency hedging during periods of financial distress in proportion to their net ...
Gordon Y. Liao, T. Zhang
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Exchange Rates and Economic Fundamentals: A Methodological Comparison of Beers and Feers
Social Science Research Network, 1998 This paper compares two approaches for examining the extent to which a country's actual real effective exchange rate is consistent with economic fundamentals: the FEER approach, which involves calculating the real exchange rate that equates the current ...
Peter B. Clark, R. MacDonald
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Capital Flows at Risk: Taming the Ebbs and Flows
Social Science Research Network, 2021 The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new quantile regression framework to predict the entire future probability distribution of capital flows to emerging markets ...
Gaston Gelos +4 more
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The Global Financial Resource Curse
Social Science Research Network, 2020 We provide a model connecting the global saving glut to productivity growth. The key feature is that the tradable sector is the engine of growth of the economy.
Gianluca Benigno +5 more
semanticscholar +1 more source
The American Economic Review, 2019 This paper describes a paradox of global thrift. Consider a world in which interest rates are low and monetary policy is constrained by the zero lower bound. Now imagine that governments implement prudential financial and fiscal policies to stabilize the
Luca Fornaro, F. Romei
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The Optimal Level of International Reserves for Emerging Market Countries: Formulas and Applications
Social Science Research Network, 2006 This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.
Romain Rancière, O. Jeanne
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International Reserves and Rollover Risk
The American Economic Review, 2013 We study the optimal accumulation of international reserves in a quantitative model of sovereign default with long-term debt and a risk-free asset. Keeping higher levels of reserves provides a hedge against rollover risk, but this is costly because using
Javier Bianchi +2 more
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Structural asymmetries and financial imbalances in the Eurozone
Review of economic dynamics (Print), 2020 Almost two decades after the introduction of the common currency differences in institutional frameworks remain a major source of cross-country heterogeneity in the eurozone.
I. Jaccard, F. Smets
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