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Trade Openness and Exchange Rate Management
2023Singapore's unique monetary policy consists of a managed exchange rate framework that can be characterized as a Taylor-like reaction function with the nominal devaluation rate instead of the nominal interest rate as the main policy instrument. We build a small open economy New Keynesian model to estimate and characterize such a monetary rule from a ...
Eric Parrado, Rodrigo Heresi
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Trade Openness and Culture [PDF]
, 2009 This paper empirically analyzes the effect of trade openness on culture, measured by indicators of trust, respect for others, perceived level of self-determination, and level of obedience. These cultural categories play a central role in encouraging or limiting economic and social interactions and therefore impact economic outcomes.
Christopher Coyne, Claudia Williamson
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Trade Barriers, Openness, and Economic Growth [PDF]
Southern Economic Journal, 2009 Using a long data set on openness and productivity, this article tests the influence of openness on total factor productivity (TFP) growth and per capita growth since 1870 for 16 industrialized countries. It is shown, in simple regressions, that growth is, by and large, independent of openness. However, once the interaction between openness and foreign
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Miracles and Debacles: In Defence of Trade Openness [PDF]
The World Economy, 2004 The central theme of this paper is that sustained rapid growth cannot be achieved without rapid growth in trade. A review of the experience during the past four decades offers virtually no examples of countries achieving sustained rapid growth – called miracles in this paper – without simultaneously experiencing sustained rapid growth in trade in the ...
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OPTIMAL ACCUMULATION AND TRADE IN AN OPEN ECONOMY*
The Journal of Finance, 1968As HAS LONG BEEN RECOGNIZED, a complete analysis of the benefits of foreign trade must look not only at the traditional static aspects of comparative advantage, but also at the intertemporal pattern of the allocation of all resources available to an economy-both foreign and domestic. Studies of the optirmal paths of capital accumulation in a two-sector
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On Verifying the Internet Open Trading Protocol
2003The Internet Open Trading Protocol (IOTP) is designed to support a set of electronic transactions that capture common trading activities. The protocol provides reliable trading transaction services that are payment-system independent. To verify IOTP, we use a protocol verification methodology that compares IOTP’s service and protocol languages.
Chun Ouyang 0001, Jonathan Billington
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The Opening of Southern Trades
1973THE markets into which English cloth exports flowed in increasing quantity from the fifteenth century onward were on the whole those of the central and north European lands south of the North Sea and Baltic, and north of the Alps and Pyrenees. In this area they competed with great success against the older Flemish industry in a range of fine and coarse
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Practical trade-offs for open interconnection
Proceedings of the 1992 ACM annual conference on Communications - CSC '92, 1992There is increasing market pressure to provide support for the open interconnection of systems via general purpose protocol suites such as OSI and TCP/IP. The complexity of these protocols means that the achievement of acceptable performance is not easy. Indeed, some would claim it is impossible, and advocate lean, closed protocols. A further aspect of
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