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Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy »

Source: Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Volume/Issue: 2004/60

Series: IMF Working Papers

Author(s): Gabriel Srour

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451848083

Keywords: diversification, volume of trade, elasticity of substitution, Open Economy Macroeconomics,

The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can dive...

Singapore's Unique Monetary Policy

Singapore's Unique Monetary Policy »

Source: Singapore's Unique Monetary Policy : How Does it Work?

Volume/Issue: 2004/10

Series: IMF Working Papers

Author(s): Eric Parrado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2004

ISBN: 9781451842722

Keywords: exchange rate, monetary policy rules, monetary authority, monetary economics, Open Economy Macroeconomics,

The Monetary Authority of Singapore, instead of relying on short-term interest rates or monetary aggregates as its monetary policy instrument, conducts policy by managing the trade-weighted exchange rate index (TWI...

Interest Rate Defenses of Currency Pegs

Interest Rate Defenses of Currency Pegs »

Source: Interest Rate Defenses of Currency Pegs

Volume/Issue: 2004/85

Series: IMF Working Papers

Author(s): Juan Sole

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

ISBN: 9781451850789

Keywords: bond, central bank, bonds, domestic currency, interest rate policy, Open Economy Macroeconomics,

This paper studies a policy often used to defend a currency peg: raising short-term interest rates. The rationale for this policy is to stem demand for foreign reserves. Yet, this mechanism is absent from most mone...

Domestic Bank Regulation and Financial Crises

Domestic Bank Regulation and Financial Crises »

Source: Domestic Bank Regulation and Financial Crises : Theory and Empirical Evidence From East Asia

Volume/Issue: 2001/63

Series: IMF Working Papers

Author(s): Kenneth Kletzer , and Robert Dekle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451848427

Keywords: financial fragility, banking, foreign capital, foreign capital inflows, deposit insurance, Open Economy Macroeconomics,

A model of the domestic financial intermediation of foreign capital inflows based on agency costs is developed for studying financial crises in emerging markets. In equilibrium, the banking system becomes progressi...

Insurance Value of International Reserves

Insurance Value of International Reserves »

Source: Insurance Value of International Reserves : An Option Pricing Approach

Volume/Issue: 2004/175

Series: IMF Working Papers

Author(s): Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451858785

Keywords: option, underlying asset, international reserves, reserve holding, external debt, currency crises, reserve holdings, Open Economy Macroeconomics,

A quantitative framework is developed to bring forward the insurance motive of holding international reserves. The insurance value of reserves is quantified as the market price of an equivalent option that provides...

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy

Economic Integration, Sectoral Diversification, and Exchange Rate Policy in a Developing Economy »

Volume/Issue: 2004/60

Series: IMF Working Papers

Author(s): Gabriel Srour

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

DOI: http://dx.doi.org/10.5089/9781451848083.001

ISBN: 9781451848083

Keywords: diversification, volume of trade, elasticity of substitution, Open Economy Macroeconomics,

The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can dive...

Real Exchange Rates In Developing Countries

Real Exchange Rates In Developing Countries »

Source: Real Exchange Rates In Developing Countries : Are Balassa-Samuelson Effects Present?

Volume/Issue: 2004/188

Series: IMF Working Papers

Author(s): Mohsin Khan , and Ehsan Choudhri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

ISBN: 9781451859591

Keywords: Balassa-Samuelson effects, exchange rate, real exchange rate, relative price, terms of trade, exchange rates, Open Economy Macroeconomics,

There is little empirical research on whether Balassa-Samuelson effects can explain the long-run behavior of real exchange rates in developing countries. This paper presents new evidence on this issue based on a pa...

The Composition and Cyclical Behavior of Trade Flows in Emerging Economies1

The Composition and Cyclical Behavior of Trade Flows in Emerging Economies1 »

Source: The Composition and Cyclical Behavior of Trade Flows in Emerging Economies

Volume/Issue: 2010/46

Series: IMF Working Papers

Author(s): Reinout De Bock

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451963106

Keywords: International business cycles, Emerging economy, Trade balance, capital good, open economy, trade flows, investment goods, Open Economy Macroeconomics,

Trade flows data show that the composition and cyclical properties of imports are similar in developed economies and emerging markets (EM) but this is not the case for exports. Unlike developed economies, (i) EM ex...

The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies

The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies »

Source: The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies

Volume/Issue: 2015/18

Series: IMF Working Papers

Author(s): Sohrab Rafiq

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2015

ISBN: 9781498334037

Keywords: unconventional monetary policy, interest rates, exchange rate, international monetary fund, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics,

This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have...

Trade, Finance, Specialization, and Synchronization

Trade, Finance, Specialization, and Synchronization »

Source: Trade, Finance, Specialization, and Synchronization

Volume/Issue: 2003/81

Series: IMF Working Papers

Author(s): Jean Imbs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451850383

Keywords: specialization, financial openness, international business cycle, optimal currency area, financial integration, equation, correlations, correlation, bilateral trade, Open Economy Macroeconomics,

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial asset...