The Experts below are selected from a list of 118896 Experts worldwide ranked by ideXlab platform
Gian Maria Milesiferretti - One of the best experts on this subject based on the ideXlab platform.
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the transfer problem revisited net foreign assets and real exchange rates
The Review of Economics and Statistics, 2004Co-Authors: Philip R Lane, Gian Maria MilesiferrettiAbstract:The relationship between International payments and the real exchange rate-the transfer problem—is a classic question in International Economics. We use cross-country data on real exchange rates and a newly constructed data set on countries' net external positions to shed new light on this question. We present a simple theoretical framework that leads to testable implications for the long-run comovements of real exchange rates, net foreign assets, relative GDP and terms of trade, and cross-country and time series evidence on the subject. We show that on average countries with net external liabilities have more depreciated real exchange rates, and that the main channel of transmission seems to be the relative price of nontraded goods, rather than the relative price of traded goods, across countries.
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the transfer problem revisited net foreign assets and real exchange rates
2000Co-Authors: Philip R Lane, Gian Maria MilesiferrettiAbstract:The relationship between International payments and the real exchange rateiXthe "transfer problem"- is one of the classic questions in International Economics. In this paper we use cross-country data on real exchange rates and a newly constructed data set on countries' net external positions to shed new light on this old question. We present a simple theoretical framework that leads to empirically testable implications for the long-run co-movements of real exchange rates, net foreign assets, relative GDP and the terms of trade, and cross-country and time-series evidence on the subject. We show that, on average, countries with net external liabilities have more depreciated real exchange rates, and that the main channel of transmission seems to work through the relative price of nontraded goods, rather than through the relative price of traded goods across countries.
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the transfer problem revisited net foreign assets and real exchange rates
2000Co-Authors: Philip R Lane, Gian Maria MilesiferrettiAbstract:The relationship between International payments and the real exchange rate--the transfer problem--is a classic question in International Economics. We use new data on countries' net external positions together with real exchange rate data to shed light on this question. We present a model yielding testable implications on the long-run co-movements of real exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods.
Philip R Lane - One of the best experts on this subject based on the ideXlab platform.
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the transfer problem revisited net foreign assets and real exchange rates
The Review of Economics and Statistics, 2004Co-Authors: Philip R Lane, Gian Maria MilesiferrettiAbstract:The relationship between International payments and the real exchange rate-the transfer problem—is a classic question in International Economics. We use cross-country data on real exchange rates and a newly constructed data set on countries' net external positions to shed new light on this question. We present a simple theoretical framework that leads to testable implications for the long-run comovements of real exchange rates, net foreign assets, relative GDP and terms of trade, and cross-country and time series evidence on the subject. We show that on average countries with net external liabilities have more depreciated real exchange rates, and that the main channel of transmission seems to be the relative price of nontraded goods, rather than the relative price of traded goods, across countries.
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the transfer problem revisited net foreign assets and real exchange rates
2000Co-Authors: Philip R Lane, Gian Maria MilesiferrettiAbstract:The relationship between International payments and the real exchange rateiXthe "transfer problem"- is one of the classic questions in International Economics. In this paper we use cross-country data on real exchange rates and a newly constructed data set on countries' net external positions to shed new light on this old question. We present a simple theoretical framework that leads to empirically testable implications for the long-run co-movements of real exchange rates, net foreign assets, relative GDP and the terms of trade, and cross-country and time-series evidence on the subject. We show that, on average, countries with net external liabilities have more depreciated real exchange rates, and that the main channel of transmission seems to work through the relative price of nontraded goods, rather than through the relative price of traded goods across countries.
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the transfer problem revisited net foreign assets and real exchange rates
2000Co-Authors: Philip R Lane, Gian Maria MilesiferrettiAbstract:The relationship between International payments and the real exchange rate--the transfer problem--is a classic question in International Economics. We use new data on countries' net external positions together with real exchange rate data to shed light on this question. We present a model yielding testable implications on the long-run co-movements of real exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods.
Kala Krishna - One of the best experts on this subject based on the ideXlab platform.
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the inside scoop acceptance and rejection at the journal of International Economics
Social Science Research Network, 2008Co-Authors: Ivan Cherkashin, Svetlana Demidova, Susumu Imai, Kala KrishnaAbstract:There is little work on the inner workings of journals. What factors seem to affect the ability to publish in a journal? Could simple rules (which are already used by some journals) like the desk rejection of a significant minority of papers, help to streamline the process? At what cost? How well do journals seem to do in choosing papers? What can we say about the extent of type 1 and type 2 errors? Do editors seem to have uniform standards or are some harsher than others? We use data on submissions to the Journal of International Economics to help answer these questions.
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the inside scoop acceptance and rejection at the journal of International Economics
Research Papers in Economics, 2008Co-Authors: Ivan Cherkashin, Svetlana Demidova, Susumu Imai, Kala KrishnaAbstract:There is little work on the inner workings of journals. What factors seem to affect the ability to publish in a journal? Could simple rules (which are already used by some journals) like the immediate rejection of a significant minority of papers, help to streamline the process? At what cost? How well do journals seem to do in choosing papers? What can we say about the extent of type 1 and type 2 errors? Do editors seem to have uniform standards or are some harsher than others? We use data on submissions to the Journal of International Economics to help answer these questions.
Ivan Tchakarov - One of the best experts on this subject based on the ideXlab platform.
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balance sheets exchange rate policy and welfare
Journal of Economic Dynamics and Control, 2007Co-Authors: Selim Elekdag, Ivan TchakarovAbstract: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 fixed and flexible exchange rate regimes. The model is solved up to a second-order approximation which allows us to address the issue of risk and welfare rigorously. The paper identifies threshold levels of the debt-to-GDP ratio above which fixed exchange rate regimes are welfare superior to monetary policy rules that imply flexible exchange rate regimes. The results suggest that emerging market economies that suffer from a relatively high level of indebtedness and are constrained in their pursuit of optimal monetary policy, could find it beneficial to opt for a fixed exchange rate regime.(This abstract was borrowed from another version of this item.)
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balance sheets exchange rate policy and welfare
IMF Working Papers, 2004Co-Authors: Selim Elekdag, Ivan TchakarovAbstract: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 fixed and flexible exchange rate regimes. The model is solved up to a second-order approximation which allows us to address the issue of risk and welfare rigorously. The paper identifies threshold levels of the debt-to-GDP ratio above which fixed exchange rate regimes are welfare superior to monetary policy rules that imply flexible exchange rate regimes. The results suggest that emerging market economies that suffer from a relatively high level of indebtedness and are constrained in their pursuit of optimal monetary policy, could find it beneficial to opt for a fixed exchange rate regime.
Keith Head - One of the best experts on this subject based on the ideXlab platform.
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the puzzling persistence of the distance effect on bilateral trade
The Review of Economics and Statistics, 2008Co-Authors: Annecelia Disdier, Keith HeadAbstract:One of the best established empirical results in International Economics is that bilateral trade decreases with distance. Although well-known, these results have not been systematically analyzed before. We examine 1052 distance effects estimated in 78 papers. Information collected on each estimate allows us to test hypotheses about causes of variation in the estimates. We focus on the question of whether distance effects have fallen over time. We find that the negative impact of distance on trade is not shrinking, but increasing slightly over the last century. This result holds even after controlling for many important differences in samples and methods.
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the puzzling persistence of the distance effect on bilateral trade
Post-Print, 2008Co-Authors: Annecelia Disdier, Keith HeadAbstract:One of the best-established empirical results in International Economics is that bilateral trade decreases with distance. Although well known, this result has not been systematically analyzed before. We examine 1,467 distance effects estimated in 103 papers. Information collected on each estimate allows us to test hypotheses about the causes of variation in the estimates. Our most interesting finding is that the estimated negative impact of distance on trade rose around the middle of the century and has remained persistently high since then. This result holds even after controlling for many important differences in samples and methods.
