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Are Middle Eastern Current Account Imbalances Excessive? »
Article
Source: Are Middle Eastern Current Account Imbalances Excessive?
Volume/Issue: 2011/195
Series: IMF Working Papers
Author(s): Paul Cashin , and Samya Beidas-Strom
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2011
ISBN: 9781462305247
Keywords: Current account determination, macroeconomic balance approach, oil exporters, exporters, reer, exporting countries, terms of trade, International Lending and Debt Problems, International Policy Coordination and Transmission,
Employing a dynamic panel regression, this study estimates the medium-term current account position for three subgroups of emerging market and developing countries with shared economic characteristics. The fundamen...
GCC Monetary Union and the Degree of Macroeconomic Policy Coordination »
Article
Source: GCC Monetary Union and the Degree of Macroeconomic Policy Coordination
Volume/Issue: 2007/249
Series: IMF Working Papers
Author(s): Bassem Kamar , and Samy Ben Naceur
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2007
ISBN: 9781451868128
Keywords: Models with panel data, central banks and their policies, analysis of fiscal and monetary policy, economic integration, policy coordination and transmission, exchange rate, real exchange rate, correlation, exchange rates, cointegration,
Coordinating macroeconomic policies is a pre-requisite to a successful launch of the common currency in the GCC countries. Relying on the Behavioral Equilibrium Exchange Rate approach as a theoretical framework, we...
Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice »
Article
Source: Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice
Volume/Issue: 2008/132
Series: IMF Working Papers
Author(s): Nienke Oomes , and Christopher Meissner
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2008
ISBN: 9781451869910
Keywords: exchange rate regime, anchor, network externalities, optimal currency area, exchange rate, exchange rate regimes, trade partners,
What determines the currency to which countries peg or "anchor" their exchange rate? Data for over 100 countries between 1980 and 1998 reveal that trade network externalities are a key determinant. This implies tha...