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The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru

The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru »

Source: The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru

Volume/Issue: 2017/208

Series: IMF Working Papers

Author(s): Francisco Roch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

ISBN: 9781484320648

Keywords: Western Hemisphere, Peru, Chile, Colombia, JEL Classification Numbers: E62, F14, H50, O13 Commodity Prices, Fiscal Policy, Flexible Exchange Rates

This paper presents a comparative analysis of the macroeconomic adjustment in Chile, Colombia, and Peru to commodity terms-of-trade shocks. The study is done in two steps: (i) an analysis of the impulse responses o...

Aid and Fiscal Management

Aid and Fiscal Management »

Source: Aid and Fiscal Management

Volume/Issue: 2002/112

Series: IMF Working Papers

Author(s): Timothy Lane , and Ales Bulir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2002

ISBN: 9781451853612

Keywords: Foreign aid, exchange rate, fiscal policy, tax revenues, exchange rates

This paper focuses on the macroeconomic aspects of fiscal management in aid-receiving countries. Despite the declining share of aid in budgets of donor countries, aid continues to play an important role in many dev...

Anatomy of Sudden Yen Appreciations

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Anatomy of Sudden Yen Appreciations »

Volume/Issue: 2019/136

Series: IMF Working Papers

Author(s): Fei Han , and Niklas Westelius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2019

DOI: http://dx.doi.org/10.5089/9781498317344.001

ISBN: 9781498317344

Keywords: Carry trade, safe haven effects, exchange rate appreciations, Japan

The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure...

Anatomy of Sudden Yen Appreciations

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Anatomy of Sudden Yen Appreciations »

Source: Anatomy of Sudden Yen Appreciations

Volume/Issue: 2019/136

Series: IMF Working Papers

Author(s): Fei Han , and Niklas Westelius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2019

ISBN: 9781498317344

Keywords: Carry trade, safe haven effects, exchange rate appreciations, Japan

The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure...

Buoyant Capital Spending and Worries over Real Appreciation

Buoyant Capital Spending and Worries over Real Appreciation »

Source: Buoyant Capital Spending and Worries over Real Appreciation : Cold Facts from Algeria

Volume/Issue: 2007/286

Series: IMF Working Papers

Author(s): Oumar Diallo , Boileau Loko , and Kangni Kpodar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

ISBN: 9781451868494

Keywords: Government capital expenditure, real exchange rate, exchange rate, government spending, public spending, capital expenditure,

The Government of Algeria has pursed a relatively expansionary fiscal policy in recent years, thanks to rising oil prices and revenues. The paper explores the potential effects of such a stance on real exchange rat...

China's Evolving Exchange Rate Regime1

China's Evolving Exchange Rate Regime1 »

Source: China's Evolving Exchange Rate Regime

Volume/Issue: 2019/50

Series: IMF Working Papers

Author(s): Sonali Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2019

ISBN: 9781498302029

Keywords: Exchange markets, Real effective exchange rates, Central banks, Exchange rate policy, Nominal effective exchange rate, reminbi, exchange rate, foreign exchange market, liquidity, RMB

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquid...

Chinese Imports

Chinese Imports »

Source: Chinese Imports : What's Behind the Slowdown?

Volume/Issue: 2016/106

Series: IMF Working Papers

Author(s): Joong Shik Kang , and Wei Liao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 May 2016

ISBN: 9781484368626

Keywords: Imports; Rebalancing; Exchange Rate; Onshoring

Real imports in China have decelerated significantly over the last two years to below 4 percent (yoy) from double-digit growth in previous years. Weaker investment, partly due to progress in rebalancing from invest...

Competitiveness and Wage Bargaining Reform in Italy1

Competitiveness and Wage Bargaining Reform in Italy1 »

Source: Competitiveness and Wage Bargaining Reform in Italy

Volume/Issue: 2018/61

Series: IMF Working Papers

Author(s): Alvar Kangur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

ISBN: 9781484347621

Keywords: Europe, Exports, Italy, Labor costs, competitiveness, exchange rate, labor market reforms, wage bargaining, search and matching, DSGE models

The growth of Italian exports has lagged that of euro area peers. Against the backdrop of unit labor costs that have risen faster than those in euro area peers, this paper examines whether there is a competitivenes...

The Consequences of Policy Uncertainty

The Consequences of Policy Uncertainty »

Source: The Consequences of Policy Uncertainty : Disconnects and Dilutions in the South African Real Effective Exchange Rate-Export Relationship

Volume/Issue: 2016/113

Series: IMF Working Papers

Author(s): Sandile Hlatshwayo , and Magnus Saxegaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 June 2016

ISBN: 9781484383490

Keywords: Competitiveness, Exports, Policy Uncertainty, Real Effective Exchange Rate

In recent years, the link between the real effective exchange rate (REER) and exports in South Africa has weakened. While exports still rise in response to REER depreciations, the REER-export elasticity is below hi...

Corporate Investment and the Real Exchange Rate±

Corporate Investment and the Real Exchange Rate± »

Source: Corporate Investment and the Real Exchange Rate

Volume/Issue: 2017/183

Series: IMF Working Papers

Author(s): Mai Chi Dao , Camelia Minoiu , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2017

ISBN: 9781484313749

Keywords: Real exchange rates, Corporate investment, Wages, Emerging markets, Developed countries, Exchange rate depreciation, labor share, real exchange rate, real effects of depreciation, General

We examine the relationship between real exchange rate depreciations and indicators of firm performance using data for a sample of more than 30,000 firms from 66 (advanced and emerging market) countries over the 20...