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Balance Sheets, Exchange Rate Policy, and Welfare

Balance Sheets, Exchange Rate Policy, and Welfare »

Source: Balance Sheets, Exchange Rate Policy, and Welfare

Volume/Issue: 2004/63

Series: IMF Working Papers

Author(s): Selim Elekdag , and Ivan Tchakarov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451848458

Keywords: financial accelerator, debt-to-GDP threshold, second-order approximation, exchange rate, exchange rate regimes, exchange rate regime, flexible exchange rate, fixed exchange rate, Open Economy Macroeconomics,

The debate about the appropriate choice of exchange rate regime is fundamental in international economics. This paper develops a small open-economy model with balance sheet effects and compares the performance of f...

Cataclysms and Currencies

Cataclysms and Currencies »

Source: Cataclysms and Currencies : Does the Exchange Rate Regime Matter for Real Shocks?

Volume/Issue: 2005/85

Series: IMF Working Papers

Author(s): Rodney Ramcharan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

ISBN: 9781451861044

Keywords: Exchange rate, shocks, exchange rate regime, per capita income, exchange rate regimes, gross capital formation, Macroeconomic Aspects of International Trade and Finance,

Does the choice of exchange rate regime affect the way an economy's adjustment to real shocks? Exploiting the randomness of natural shocks, this paper assesses empirically the often contrasting answers found in the...

Corruption, Structural Reforms, and Economic Performance in the Transition Economies

Corruption, Structural Reforms, and Economic Performance in the Transition Economies »

Source: Corruption, Structural Reforms, and Economic Performance in the Transition Economies

Volume/Issue: 2000/132

Series: IMF Working Papers

Author(s): George Abed , and Hamid Davoodi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

ISBN: 9781451855371

Keywords: structural reforms, inflation, exchange rate regime, macroeconomic performance, wage inflation

Recent studies have highlighted the adverse impact of corruption on economic performance. This paper advances the hypothesis that corruption is largely a symptom of underlying weaknesses in public policies and inst...

Crisis and Recovery

Crisis and Recovery »

Source: Crisis and Recovery : Role of the Exchange Rate Regime in Emerging Market Countries

Volume/Issue: 2010/242

Series: IMF Working Papers

Author(s): Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2010

ISBN: 9781455209422

Keywords: Global financial crisis, fixed exchange rate, growth, emerging market economies, exchange rate regime, exchange rate, current account balance, terms of trade

This paper examines the role of the exchange rate regime in explaining how emerging market economies fared in the recent global financial crisis, particularly in terms of output losses and growth resilience. After...

Currency Boards

Currency Boards »

Source: Currency Boards : The Ultimate Fix?

Volume/Issue: 1998/8

Series: IMF Working Papers

Author(s): Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1998

ISBN: 9781451927955

Keywords: Currency Boards, Fixed Exchange Rates, Growth, currency board, exchange rate, central bank, exchange rate regimes

The growing integration of world capital markets has made it fashionable to argue that only extreme exchange rate regimes are sustainable. Short of adopting a common currency, currency board arrangements represent...

Currency Boards, Credibility, and Macroeconomic Behavior

Currency Boards, Credibility, and Macroeconomic Behavior »

Source: Currency Boards, Credibility, and Macroeconomic Behavior

Volume/Issue: 2000/97

Series: IMF Working Papers

Author(s): Amadou Sy , and Luis Rivera-Batiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451852011

Keywords: Credibility, Currency Board, Currency Crisis, Fixed Exchange Rate, exchange rate, exchange rate regimes, exchange rate regime

Currency boards operate differently from standard pegs. The former exhibit greater currency stability and lower transaction costs, inflation, and nominal interest rates, but are limited in their use of devaluation....

Current Account Developments in New Member States of the European Union

Current Account Developments in New Member States of the European Union »

Source: Current Account Developments in New Member States of the European Union : Equilibrium, Excess, and EU-Phoria

Volume/Issue: 2008/92

Series: IMF Working Papers

Author(s): Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

ISBN: 9781451869538

Keywords: Current account norm, macroeconomic balance approach, fdi, investment climate, transition economies, exchange rate regime

This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the las...

Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries

Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries »

Source: Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries : An Empirical Analysis

Volume/Issue: 2003/59

Series: IMF Working Papers

Author(s): Michael Papaioannou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451847963

Keywords: Central American Countries, exchange rate, exchange rate regime, terms of trade, trade openness, Open Economy Macroeconomics,

This paper examines whether decisions about the appropriate exchange rate regime in six Central American countries were based on longer-run economic fundamentals or on the confluence of historical and political cir...

Economic Trends in Africa

Economic Trends in Africa »

Source: Economic Trends in Africa : The Economic Performance of Sub-Saharan African Countries

Volume/Issue: 1993/71

Series: IMF Working Papers

Author(s): Pierre Dhonte , Jean Clément , Mbuyamu Matungulu , and Dawn Rehm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1993

ISBN: 9781451849196

Keywords: exchange systems, exchange rate, terms of trade, exchange rate regimes, exchange rates

This paper surveys recent economic developments in countries in the African Department. In the aggregate, output growth continues to be sluggish, and it is expected that half of the countries will experience a decl...

The Economics of Political Transitions

The Economics of Political Transitions »

Source: The Economics of Political Transitions : Implications for the Arab Spring

Volume/Issue: 2013/69

Series: IMF Working Papers

Author(s): Padamja Khandelwal , and Agustin Roitman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2013

ISBN: 9781475569643

Keywords: political instability, Arab Countries in Transition, Arab Spring, exchange rate, social unrest, current account balance, exchange rate regimes, currency depreciation, Asia including Middle East, Macroeconomic Analyses of Economic Development

Over the past two years, ongoing political transitions in many Arab countries have led to social unrest and an economic downturn. This paper examines comparable historical episodes of political instability to deriv...