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United States current account deficits: A stochastic optimal control analysis 1

Jerome L. Stein

in Stochastic Optimal Control, International Finance, and Debt Crises

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199280575
eISBN:
9780191603501
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280576.003.0009
Subject:
Economics and Finance, Financial Economics

For nearly a quarter of a century, the US has persistently run significant current account deficits that transformed it from the world’s largest net creditor to its largest debtor. The stochastic ... More


Synthesis, Policy Lessons, and Open Questions

Michael Bruno

in Crisis, Stabilization, and Economic Reform: Therapy by Consensus

Published in print:
1993
Published Online:
September 2006
ISBN:
9780198286639
eISBN:
9780191603839
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198286635.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter returns to a number of common issues that emerged from the cumulative experience reviewed in previous chapters, considers open theoretical questions, and discusses some of the policy ... More


The Anatomy of a Multiple Crisis: Why was Argentina Special and What Can We Learn from It?

Guillermo Perry and Luis Servén

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271405
eISBN:
9780191601200
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271402.003.0012
Subject:
Economics and Finance, Economic Systems

The Argentine crisis has been variously blamed on fiscal imbalances, real overvaluation, and self-fulfilling investor pessimism triggering a capital flow reversal. This chapter provides a full ... More


Monetary Policy and External Shocks in a Semidollarized Economy

Oscar Dancourt

in Macroeconomics and Development: Roberto Frenkel and the Economics of Latin America

Published in print:
2016
Published Online:
September 2016
ISBN:
9780231175081
eISBN:
9780231541213
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231175081.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

the chapter discusses the adequate monetary policy response to management of external shocks that deteriorate the balance of payments and contracts aggregate demand. To this end the author develops ... More


Rectifying Capital Market Imperfections: The Continuing Rationales for Multilateral Lending

Inge Kaul and Pedro Conceiçāo

in The New Public Finance: Responding to Global Challenges

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195179972
eISBN:
9780199850709
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195179972.003.0021
Subject:
Economics and Finance, International

This chapter discusses the rationale for multilateral lending. It describes three types of multilateral lending including countercyclical provision of liquidity to meet temporary current account ... More


External Shocks and Price Stability under the Linked Rate

Yue Chim Richard Wong

in Diversity and Occasional Anarchy: On Deep Economic and Social Contradictions in Hong Kong

Published in print:
2013
Published Online:
January 2014
ISBN:
9789888139446
eISBN:
9789888180349
Item type:
chapter
Publisher:
Hong Kong University Press
DOI:
10.5790/hongkong/9789888139446.003.0004
Subject:
Society and Culture, Asian Studies

The Hong Kong dollar was fixed against the pound sterling until June 1972. Since 1983, it has been fixed against the US dollar. The linked exchange rate connects Hong Kong with the international ... More


External Shocks, Industrial Policy, and the Search for Balanced Growth

JAMES E. VESTAL

in Planning for Change: Industrial Policy and Japanese Economic Development, 1945–1990

Published in print:
1995
Published Online:
October 2011
ISBN:
9780198290278
eISBN:
9780191684814
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198290278.003.0007
Subject:
Business and Management, International Business, Political Economy

This chapter summarizes Japan's more recent experience with industrial policy, of interest because Japan's economic performance continues to surpass that of other major OECD nations. Although ... More


Performance of Quarterly Econometric Models of the United States: A New Round of Model Comparisons

F. Gerard Adams and Lawrence R. Klein

in Comparative Performance of U.S. Econometric Models

Published in print:
1991
Published Online:
October 2011
ISBN:
9780195057720
eISBN:
9780199854967
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195057720.003.0002
Subject:
Economics and Finance, Econometrics

This chapter focuses on the response of the various econometric models to a number of alternatively specified external shocks. Altogether, 11 model groups supplied simulation results for the model ... More


Competitive Industrialization with Natural Resource Abundance: Malaysia

Mahani. Zainal Abidin

in Resource Abundance and Economic Development

Published in print:
2004
Published Online:
April 2005
ISBN:
9780199275786
eISBN:
9780191602160
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199275785.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter examines the main differences between the development of Malaysia and that of other small resource-abundant countries that did not achieve competitive industrialisation. It discusses the ... More


Introduction

Juan Carlos Moreno-Brid and Jaime Ros

in Development and Growth in the Mexican Economy: An Historical Perspective

Published in print:
2009
Published Online:
May 2009
ISBN:
9780195371161
eISBN:
9780199870608
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195371161.003.0001
Subject:
Economics and Finance, Economic History

Chapter 1 summarizes the main theses of the book and provides an overview of the contents of each of its chapters. It argues that the episodes of rapid economic growth (during the Porfiriato and ... More


Cuba: The Stalled Transition

Giovanni Andrea Cornia and Vladimir Popov (eds)

in Transition and Institutions: The Experience of Gradual and Late Reformers

Published in print:
2001
Published Online:
October 2011
ISBN:
9780199242184
eISBN:
9780191697043
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199242184.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter discusses the pre-1989 Cuban economic structure and examines how the post-1989 external shocks filtered through the Cuban economy. It discusses how the reform process in Cuba shifted in ... More


Policy Response to External Shocks: Lessons from the Crisis

Carlos Capistrán, Gabriel Cuadra, and Manuel Ramos-Francia

in The Great Recession: Lessons for Central Bankers

Published in print:
2013
Published Online:
January 2015
ISBN:
9780262018340
eISBN:
9780262305921
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262018340.003.0009
Subject:
Economics and Finance, Financial Economics

Emerging economies have been subject to abrupt reversals in capital flows, which have adverse consequences for economic activity and financial stability. An important question for policymakers is how ... More


Explaining Algeria's transition: the international connection

Francesco Cavatorta

in The International Dimension of the Failed Algerian Transition: Democracy Betrayed?

Published in print:
2009
Published Online:
July 2012
ISBN:
9780719076169
eISBN:
9781781701980
Item type:
chapter
Publisher:
Manchester University Press
DOI:
10.7228/manchester/9780719076169.003.0003
Subject:
Political Science, International Relations and Politics

This chapter presents a framework of transitions to democracy that includes international variables (external shocks, direct active policies of international actors, and larger trends in the ... More


The external-internal linkages of the transition

Francesco Cavatorta

in The International Dimension of the Failed Algerian Transition: Democracy Betrayed?

Published in print:
2009
Published Online:
July 2012
ISBN:
9780719076169
eISBN:
9781781701980
Item type:
chapter
Publisher:
Manchester University Press
DOI:
10.7228/manchester/9780719076169.003.0005
Subject:
Political Science, International Relations and Politics

The first element that needs to be analysed is the role played by the economic crisis of 1985–1986 in ‘forcing’ the ruling elites in Algeria to open up the system. Government revenues fell due to the ... More


Informal Wages in the Presence of Agricultural and Manufacturing Sectors

Sugata Marjit and Saibal Kar

in The Outsiders: Economic Reform and Informal Labour in a Developing Economy

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198071495
eISBN:
9780199081257
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198071495.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter examines the welfare implications of changing wage and employment situations in the informal sector by constructing a comprehensive model. The structure involves an agricultural sector ... More


Industrial Growth in South America: Argentina, Brazil, Chile, and Colombia, 1890–2010

Xavier Duran, Aldo Musacchio, and Gerardo della Paolera

in The Spread of Modern Industry to the Periphery since 1871

Published in print:
2017
Published Online:
March 2017
ISBN:
9780198753643
eISBN:
9780191815232
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198753643.003.0013
Subject:
History, Economic History, World Modern History

This chapter uses new time series data to examine the industrialization in Argentina, Brazil, Chile, and Colombia since the early twentieth century. This allows the authors to uncover variation ... More


Monetary policy in China

Eswar Prasad and Boyang Zhang

in The Oxford Companion to the Economics of China

Published in print:
2014
Published Online:
December 2014
ISBN:
9780199678204
eISBN:
9780191788635
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199678204.003.0030
Subject:
Economics and Finance, South and East Asia

This chapter examines the state of monetary and exchange rate policies in China. China’s increasing openness to trade and financial flows and the economy’s gradual transition to a market-oriented ... More


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