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Author: Ms.Martine Guerguil Publisher: International Monetary Fund ISBN: 1451847831 Category : Business & Economics Languages : en Pages : 28
Book Description
This paper reviews the evolution of certain price and nonprice competitiveness indicators in Chile and concludes that the pecuniary loss of competitiveness associated with the appreciation of the peso since the late 1980s has been broadly offset by productivity gains and adjustments in factor intensity, particularly in the manufacturing sector. However, there may be limited room for further advances from that point, which gives new prominence to certain policy issues such as structural reforms to increase productivity, a reassessment of the tax treatment of the mining sector, and a rebalancing of the macroeconomic policy mix to dampen speculative capital inflows.
Author: Ms.Martine Guerguil Publisher: International Monetary Fund ISBN: 1451847831 Category : Business & Economics Languages : en Pages : 28
Book Description
This paper reviews the evolution of certain price and nonprice competitiveness indicators in Chile and concludes that the pecuniary loss of competitiveness associated with the appreciation of the peso since the late 1980s has been broadly offset by productivity gains and adjustments in factor intensity, particularly in the manufacturing sector. However, there may be limited room for further advances from that point, which gives new prominence to certain policy issues such as structural reforms to increase productivity, a reassessment of the tax treatment of the mining sector, and a rebalancing of the macroeconomic policy mix to dampen speculative capital inflows.
Author: International Monetary Fund. Research Dept. Publisher: International Monetary Fund ISBN: 1451973608 Category : Business & Economics Languages : en Pages : 168
Book Description
This paper presents international evidence on the determinants of trade dynamics. It provides some new empirical perspectives on the relationship between international trade and macroeconomic fluctuations in industrial economies. A comprehensive set of stylized facts concerning fluctuations in trade variables and their determinants is presented. A measure of the quantitative importance of international trade for the propagation of domestic business cycles is then constructed, focusing on the role of external trade as a catalyst for cyclical recoveries.
Author: Sebastian Edwards Publisher: Johns Hopkins University Press ISBN: Category : Business & Economics Languages : en Pages : 110
Book Description
This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
Author: OECD Publisher: OECD Publishing ISBN: 9264023720 Category : Languages : en Pages : 216
Book Description
This 2003 edition of OECD's periodic review of Chile's economy includes special features on financial markets, labour markets and social policies and product market policies.
Author: Steve Brito Publisher: International Monetary Fund ISBN: 1484356349 Category : Business & Economics Languages : en Pages : 21
Book Description
We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming model. However, in other emerging market and developing economies, as well as some advanced economies with a low degree of structural economic complexity, corporate investment increases when the domestic currency strengthens. This result is consistent with Diaz Alejandro (1963)—in economies where capital goods are mostly imported, a stronger real exchange rate reduces investment costs for domestic firms.
Author: Mr.Sonali Das Publisher: International Monetary Fund ISBN: 1498302025 Category : Business & Economics Languages : en Pages : 31
Book Description
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 liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Author: Jeffry A. Frieden Publisher: Princeton University Press ISBN: 1400865344 Category : Business & Economics Languages : en Pages : 318
Book Description
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 9781589062733 Category : Business & Economics Languages : en Pages : 130
Book Description
Summarizes the for ward-looking analytical work program on macroeconomic issues related to the Poverty Reduction Strategy Paper approach. The program is evolving through a process that began with a technical workshop; participants from low-income countries, donors, academia, and civil society drafted guidance on selected issues and identified priority research topics. Partners, policymakers, and economic scholars are encouraged to share their perspectives and findings through respective team leaders, whose e-mail addresses are provided. The publication also summarizes IMF analytical work, and contains a bibliography of nearly 1,000 papers.
Author: Sandra Kuntz-Ficker Publisher: Springer ISBN: 3319623400 Category : Business & Economics Languages : en Pages : 363
Book Description
This book challenges the wide-ranging generalizations that dominate the literature on the impact of export-led growth upon Latin America during the first export era. The contributors to this volume contest conventional approaches, stemming from structuralism and dependency theory, which portray a rather negative view of the impact of nineteenth-century globalization upon Latin America. It has been considered that, as a result of the role of Latin American countries as providers of raw materials produced in enclaves dominated by foreign capital, their participation in the world economy has had adverse consequences for their long-term development. This volume addresses a representative sample of countries with varied initial conditions and resource endowments, a diverse productive specialization, as well as different degrees of integration to the world economy. This allows a direct comparison among the different experiences within the region, which in turn enables a more nuanced understanding of the contribution of exports to economic growth and economic modernization. Seven national case studies are presented – Argentina, Brazil, Colombia, Chile, Peru, Mexico and Bolivia – which offer an insight into the successes of a region traditionally viewed as disadvantaged by globalization and export-led growth. Winner of the Vicens Vives prize for the best economic history book granted by the Spanish Economic History Association.
Author: Ms.Martine Guerguil
Author: Ms.Martine Guerguil
Author: International Monetary Fund. Research Dept.
Author: 
Author: Sebastian Edwards
Author: OECD
Author: Steve Brito
Author: Mr.Sonali Das
Author: Jeffry A. Frieden
Author: International Monetary Fund
Author: Sandra Kuntz-Ficker