Macroeconomic Linkage

Author : Takatoshi Ito,Anne O. Krueger
Publisher : University of Chicago Press
Page : 414 pages
File Size : 51,5 Mb
Release : 2009-02-15
Category : Business & Economics
ISBN : 9780226386997

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Macroeconomic Linkage by Takatoshi Ito,Anne O. Krueger Pdf

This volume explores East Asia's macroeconomic experience in the 1980s and the economic impact of East Asia's growth on the rest of the world. The authors explore the causes of capital flows, changes in trade balances, and exchange rate fluctuations in East Asia and their effects on other countries. These fourteen papers are organized around four themes: the overall determinants of growth and trading relations in the East Asian region; monetary policies in relation to capital controls and capital accounts; the impact of exchange rate behavior on industrial structure; and the potential for greater regional integration. The contributors examine interactions among exchange rate movements, trade balances, and capital flows; how government monetary policy affects capital flows; the effect of exchange rates on industrial structure, inventories, and prices; and the extent of regional integration in East Asia.

Author : Takatoshi Ito,Anne O. Krueger
Publisher : University of Chicago Press
Page : 414 pages
File Size : 49,5 Mb
Release : 1994-03-20
Category : Business & Economics
ISBN : 9780226386690

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Macroeconomic Linkage by Takatoshi Ito,Anne O. Krueger Pdf

The contributors cover topics such as interactions among exchange rate movements, trade balances, and capital flows in Japan, Korea, and Taiwan, and the impact of exchange rates on industrial structure, inventories, and prices of both domestic and exported goods.

Author : Warwick J. McKibbin,Jeffrey D. Sachs
Publisher : Brookings Institution Press
Page : 296 pages
File Size : 49,6 Mb
Release : 2011-03-01
Category : Business & Economics
ISBN : 9780815716686

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Global Linkages by Warwick J. McKibbin,Jeffrey D. Sachs Pdf

With the rapid deterioration of the U.S. trade balance in the 1980s, the United States was forced to finance deficits by borrowing heavily from the rest of the world. In doing so, the United States went from being the world's largest creditor country to the world's largest debtor, while Japan and West Germany experienced a rise in trade surpluses. Such a shift in international trade flows has had profound effects on the world economy. McKibbin and Sachs address a range of issues involving macroeconomic imbalances in the world economy. Through the use of a new simulation model of the world economy they explore how policy actions undertaken in one country affect the trade flows and macroeconomic patterns among the other counties. The authors show that key macroeconomic features of the 1980s can be explained by shifts in monetary and fiscal policies in the major economies and by supply shocks due to changes in oil prices. In addition to showing how the global macroeconomic experience can be understood, they focus on a number of current policy issues, including the reduction of global trade imbalances, the consequences of U.S. fiscal consolidation, the effects of an oil price shock, the implications for the U.S. economy of increases in Japanese and German fiscal spending, the effects of targeting exchange rates among the major currencies, and the gains of increased coordination of macroeconomic politics among the major economies. In several cases, their conclusions are shown to be quite different from those that form the basis of many conventional views. The authors also analyze the importance of interaction between policymakers in industrial economies and conclude by reemphasizing the need for U.S. politicians and policy experts to recognize that macroeconomic results in the U.S. now depend heavily on events abroad.

Author : Otaviano Canuto,Swati Ghosh
Publisher : World Bank Publications
Page : 307 pages
File Size : 42,9 Mb
Release : 2013-10-29
Category : Business & Economics
ISBN : 9781464800030

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Dealing with the Challenges of Macro Financial Linkages in Emerging Markets by Otaviano Canuto,Swati Ghosh Pdf

This book deals with the challenges of macro financial linkages in the emerging markets.

Author : Akira Kohsaka
Publisher : Routledge
Page : 296 pages
File Size : 44,9 Mb
Release : 2015-03-05
Category : Business & Economics
ISBN : 9781317615743

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Macro-Financial Linkages in the Pacific Region by Akira Kohsaka Pdf

Growth perspectives in emerging market economies are increasingly dependent on international capital flows in recent decades because of their influences on business cycles. In fact, volatile international capital flows has been one of the main concerns for the macroeconomic policy authorities. Focusing on emerging economies in the Pacific region, this book reveals how they are different from those in other regions in terms of international macro-financial linkages to the global capital market and domestic financial development,. The book also discusses how these characteristics have interacted with their macroeconomic policy regimes and their macroeconomic performance throughout the two major international financial crises in the past more than two decades. It suggests facts that have strengthened the resilience of these emerging economies in the Pacific region against the global financial crisis along with the intensified intra-regional economic integration through trade and investment. The book also examines their macroeconomic management focusing on monetary policy regimes and suggests that their factual unorthodox policies with exchange rate management and capital controls have contributed to their resilience against the intrinsic volatility of the international capital market and financial flows.

Author : Ms.Piyabha Kongsamut,Mr.Christian Mumssen,Anne-Charlotte Paret,Mr.Thierry Tressel
Publisher : International Monetary Fund
Page : 36 pages
File Size : 40,6 Mb
Release : 2017-12-02
Category : Business & Economics
ISBN : 9781484331750

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Incorporating Macro-Financial Linkages into Forecasts Using Financial Conditions Indices: The Case of France by Ms.Piyabha Kongsamut,Mr.Christian Mumssen,Anne-Charlotte Paret,Mr.Thierry Tressel Pdf

How can information on financial conditions be used to better understand macroeconomic developments and improve macroeconomic projections? We investigate this question for France by constructing country-specific financial conditions indices (FCIs) that are tailored to movements in GDP, investment, private consumption and exports respectively. We rely on a VAR approach to estimate the weights of the financial components of each FCI, including equity market returns (which turn out having a relatively strong weight across all FCIs), private sector risk premiums, long-term interest rates, and banks’ credit standards. We find that the tailored FCIs are useful as leading indicators of GDP, investment, and exports, and as a contemporaneous indicator of private consumption. Credit volumes turn out to be lagging indicators of growth. The indices inform us on macro-financial linkages in France and are used to improve the accuracy of quarterly forecasting models and high-frequency “nowcast” models. We show that FCI-augmented models could have significantly improved forecasts during and after the global financial crisis.

Author : Hans GENBERY,Dong HE
Publisher : City University of HK Press
Page : 345 pages
File Size : 47,8 Mb
Release : 2008-07-01
Category : Business & Economics
ISBN : 9789629371616

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Macroeconomic Linkages Between Hong Kong and Mainland China by Hans GENBERY,Dong HE Pdf

This volume sheds light on the important policy issues facing both Hong Kong and the Mainland, including how resilient the Hong Kong economy is against external shocks, how large portfolio capital outflows from China will be once its capital account is liberalized, and in what ways fund flows between Hong Kong and the Mainland affect Hong Kong’s monetary and financial conditions. With 11 essays, this monograph can be divided into 2 parts. Part I studies the “real” linkages between Hong Kong and the Mainland, while Part II focuses on the financial linkages. A detailed introduction written by the editors will serve as a non-technical summary of the essays. Published by City University of Hong Kong Press. 香港城市大學出版社出版。

Author : Christopher Tsoukis,George M. Agiomirgianakis,Tapan Biswas
Publisher : Springer Science & Business Media
Page : 255 pages
File Size : 54,9 Mb
Release : 2011-06-28
Category : Business & Economics
ISBN : 9781441988812

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Aspects of Globalisation by Christopher Tsoukis,George M. Agiomirgianakis,Tapan Biswas Pdf

Reflecting on the breadth of its scope, Aspects of Globalisation is intended to serve a varied audience. Being at the forefront of research, it should appeal to academics, researchers and postgraduate students interested in new approaches and ideas for future research. To this end, the editors have encouraged the contributors to pursue varied themes and raise new issues, approach their subject matter in an analytically rigorous way, and to include fairly extended review sections within their papers, so as to make them useful to a wider readership. Furthermore, diverse methodologies are followed, including the widespread use of state-of-the-art econometrics, reflecting the recent trend in economic analysis. Equally importantly, many of the papers offer clear-cut policy conclusions and should therefore be of direct relevance to policy-minded analysts and policy-makers. We thus hope that the papers included here will provoke further research and ideas as well as contribute to ongoing policy debates. Its diversity, rigour and scope should be positive attributes of the volume and should make it a useful source of information for researchers and policy-makers alike.

Author : Klaus Prettner,David E. Bloom
Publisher : Academic Press
Page : 248 pages
File Size : 51,7 Mb
Release : 2020-06-19
Category : Business & Economics
ISBN : 9780128180297

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Automation and Its Macroeconomic Consequences by Klaus Prettner,David E. Bloom Pdf

Automation and Its Macroeconomic Consequences reveals new ways to understand the economic characteristics of our increasing dependence on machines. Illuminating technical and social elements, it describes economic policies that could counteract negative income distribution consequences of automation without hampering the adoption of new technologies. Arguing that modern automation cannot be compared to the Industrial Revolution, it considers consequences of automation such as spatial patterns, urbanization, and regional concerns. In touching upon labor, growth, demographic, and policy, Automation and its Macroeconomic Consequences stands at the intersection of technology and economics, offering a comprehensive portrait illustrated by empirical observations and examples. Introduces formal growth models that include automation and the empirical specifications on which the data-driven results rely Focuses on formal modeling, empirical analysis and derivation of evidence-based policy conclusions Considers consequences of automation, such as spatial patterns, urbanization and regional concerns

Author : Anonim
Publisher : Unknown
Page : 40 pages
File Size : 45,6 Mb
Release : 1981
Category : Agriculture
ISBN : UCD:31175020702455

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Consortium on Trade Research by Anonim Pdf

Author : Mr.Christopher W. Crowe,Mr.Simon Johnson,Mr.Jonathan David Ostry,Mr.Jeronimo Zettelmeyer
Publisher : International Monetary Fund
Page : 617 pages
File Size : 52,9 Mb
Release : 2010-08-25
Category : Business & Economics
ISBN : 9781589069398

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Macrofinancial Linkages by Mr.Christopher W. Crowe,Mr.Simon Johnson,Mr.Jonathan David Ostry,Mr.Jeronimo Zettelmeyer Pdf

Macrofinancial linkages have long been at the core of the IMF's mandate to oversee the stability of the global financial system. With the advent of the economic crisis, the Fund has drawn on this research in order to contribute to critical debates on the nature of appropriate policy responses at both the national and multilateral levels. The current juncture offers a good opportunity to take stock of this body of research by IMF staff and to share it with a wider audience, particularly since few collections have been published in this area. This volume brings together some of the best writing by IMF economists on macrofinancial issues, and highlights the issues and approaches that have guided IMF thinking in an area that makes up an increasingly important component of the IMF's overall remit. The chapters in the volume fit into three broad themes: financial crises and boom-bust cycles; financial integration, financial liberalization, and economic performance; and policy issues relating to macroeconomic policy and the corporate and financial sectors-including domestic and external financial liberalization.

Author : Michael E. Bell
Publisher : Transportation Research Board
Page : 96 pages
File Size : 41,5 Mb
Release : 1997
Category : Business & Economics
ISBN : 0309060613

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Macroeconomic Analysis of the Linkages Between Transportation Investments and Economic Performance by Michael E. Bell Pdf

Author : Stijn Claessens,M. Ayhan Kose
Publisher : Unknown
Page : 191 pages
File Size : 49,7 Mb
Release : 2018
Category : Electronic
ISBN : 929259124X

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Frontiers of Macrofinancial Linkages by Stijn Claessens,M. Ayhan Kose Pdf

The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and capital flows can have dramatic impact on the financial positions of households, corporations and sovereign nations. As fluctuations were amplified, the global financial system was brought to the brink of collapse and the deepest contraction in world output in more than half a century followed. Moreover, unprecedented challenges for fiscal, monetary and financial regulatory policies resulted.The crisis revived an old debate in the economics profession about the importance of macrofinancial linkages. Some argue that the crisis was a painful reminder of our limited knowledge of these linkages. Others claim that the profession had already made substantial progress in understanding them but that there was too much emphasis on narrow approaches and modelling choices. Yet, most also recognise that the absence of a unifying framework to study these two-way interactions has limited the practical applications of existing knowledge and impeded the formulation of policies.With these observations in mind, this paper presents a systematic review of the rapidly expanding literature on macrofinancial linkages. It first surveys the literature on the linkages between asset prices and macroeconomic outcomes. It then reviews the literature on the macroeconomic implications of financial imperfections. It also examines the global dimensions of macrofinancial linkages and documents the main stylized facts about the linkages between the real economy and the financial sector. The topic of macrofinancial linkages promises to remain an exciting area of research, given the many open questions and significant policy interest. The paper concludes with a discussion of possible directions for future research, stressing the need for richer theoretical models, more robust empirical work and better quality data so as to advance knowledge and help guide policymakers going forward.

Author : Ms.Inci Ötker,Mr.Jaromir Benes,David Vávra
Publisher : International Monetary Fund
Page : 36 pages
File Size : 54,6 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 9781451872705

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Modeling with Macro-Financial Linkages by Ms.Inci Ötker,Mr.Jaromir Benes,David Vávra Pdf

This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated with rapid credit growth, financial dollarization, and foreign borrowing, while lacking traditional tools to effect monetary policy transmission, and hence could resort to more direct instruments, such as foreign exchange market intervention and regulatory and administrative measures. Calibrating the model to a stylized emerging European economy, the paper simulates real and financial sector implications of various external and policy-related shocks that could be used as input for monetary policy making.

Author : Otaviano Canuto,Swati Ghosh
Publisher : World Bank Publications
Page : 308 pages
File Size : 50,7 Mb
Release : 2013-10-29
Category : Business & Economics
ISBN : 9781464800023

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Dealing with the Challenges of Macro Financial Linkages in Emerging Markets by Otaviano Canuto,Swati Ghosh Pdf

This book deals with the challenges of macro financial linkages in the emerging markets.