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Monday, July 20, 2020 | History

4 edition of Monetary unions, external shocks and economic performance found in the catalog.

Monetary unions, external shocks and economic performance

Sebastian Edwards

Monetary unions, external shocks and economic performance

a latin american perspective

by Sebastian Edwards

  • 35 Want to read
  • 18 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English


Edition Notes

StatementSebastian Edwards.
SeriesNBER working paper series -- working paper 12229, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 12229.
ContributionsNational Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL17069062M
LC Control Number2006619064

economic variables than loose monetary policy shocks has been documented for developed and emerging economies.3 The effect of monetary policy is an important issue for central banks. Hence, inves-tigating the asymmetric effects of monetary policy is an important undertaking. The aim of this study is to examine the asymmetric effects of monetary. Responses of domestic variables to external shocks. Table 3 suggests that monetary policy in Algeria faces a volatile environment. Standard deviations show that international shocks – EUR/USD exchange rate, oil price, international interest rates and foreign inflation – are among the main disturbances that hit this by: 8.

  Paul R. Masson is a nonresident senior fellow at the Brookings Institution, and research fellow and adjunct professor at the University of Toronto. Recently retired from the International Monetary Fund, he has published widely in international finance. Catherine Pattillo is a senior economist in the IMF's African Department and a specialist on low-income economies, particularly those in : Paul R. Masson. The Effects of Monetary and Exchange Rate Policy Shocks: Evidence from an Emerging Market Economy∗ Yasin Kursat Onder and Mauricio Villamizar-Villegasa aCentral Bank of Colombia Many central banks that have opted for monetary auton-omy have also been reluctant to relinquish control over the value of their currencies. As a result, they have.

the external shocks such as the US shocks. The economic influence of the United States in the East Asian region is better reflected in the saying, “when America sneezed, Japan and Europe used to catch a cold”. To determine the content of the US influence has important implications for establishing a regional monetary arrangement. The Symmetry of Demand and Supply Shocks in Monetary Unions Maru Etta-Nkwelle Howard University Carlton Augustine The American University Youngho Lee Howard University This study has been motivated by the numerous proposals for greater monetary and economic integration in Africa. We investigate the correlation of shocks between the exiting.


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Monetary unions, external shocks and economic performance by Sebastian Edwards Download PDF EPUB FB2

Monetary Unions, External External shocks and economic performance book and Economic Performance: A Latin American Perspective Sebastian Edwards. NBER Working Paper No. Issued in May NBER Program(s):International Finance and Macroeconomics. During the last few years there has been a renewed analysis in currency unions as a form of monetary arrangement.

Downloadable. During the last few years there has been external shocks and economic performance book renewed analysis in currency unions as a form of monetary arrangement. This new interest has been largely triggered by the Euro experience.

Scholars and policy makers have asked about the optimal number of currencies in the world economy. They have analyzed whether different countries satisfy the traditional “optimal currency area. Sebastian Edwards, "Monetary Unions, External Shocks and Economic Performance: A Latin American Perspective," Working Pap Bank of Greece.

Sebastian Edwards, "Monetary Unions, External Shocks and Economic Performance: A Latin American Perspective," NBER Working PapersNational Bureau of Economic Research, Inc. Get this from a library. Monetary unions, external shocks and economic performance: a Latin American perspective.

[Sebastian Edwards; National Bureau of Economic Research.] -- "During the last few years there has been a renewed analysis in currency unions as a form of monetary arrangement. This new interest has been largely triggered by the Euro experience. Monetary Unions, External Shocks and Economic Performance: A Latin American Perspective Article in International Economics and Economic Policy 3(3) February with 35 ReadsAuthor: Sebastian Edwards.

Monetary unions, external shocks and economic performance: A Latin American perspective Sebastian Edwards 1 International Economics and Economic Policy volume 3, pages – () Cite this articleCited by: Get this from a library. Monetary unions, external shocks and economic performance: a Latin American experience.

[Sebastian Edwards; National Bureau of Economic Research.]. The Ramsey-optimal policy rule is used as a benchmark. The results suggest that such an optimal policy rule features direct and non-negligible responses to lending spreads over the cost of foreign debt, the real exchange rate and the US policy rate, together with a mild anti-inflationary policy stance in response to domestic and external by: 1.

Economic Shock: An economic shock is an event that occurs outside of an economy, and produces a significant change within an economy. Comments on S. Edwards: “Monetary unions, external shocks and economic performance: a Latin American perspective” Enrique Alberola 1 International Economics and Economic Policy volume 3, pages – () Cite this articleCited by: Comments on S.

Edwards: "Monetary unions, external shocks and economic performance: A Latin American perspective" Article (PDF Available) in International Economics and Economic Policy 3(3) Author: Klaus Schmidt-Hebbel.

The West African Economic and Monetary Union (WAEMU), like other monetary unions, faces a number of challenges in dealing with macroeconomic shocks. 1 A symmetric shock—that is, a shock affecting similarly all members of a monetary union—can in principle be addressed by the common monetary policy or by a coordinated fi scal policy response.

Monetary Unions, External Shocks and Economic Performance: A Latin American Perspective, International Economics and Economic Policy, The Relationship Between Exchange Rates and Inflation Targeting Revisited, Ninth Annual Conference of the Central Bank of Chile: Monetary Policy Under Inflation Targetting.

then, various kinds of shocks have been historically recorded and the current literature distinguishes between demand and supply shocks, domestic and external shocks, country-specific and global shocks, nominal (monetary) and real shocks etc.

An important part of the literature focuses on the impact of these shocks on the growth of an economy. Table 1 summarizes the estimates of the fraction of the variance in variables in emerging markets caused by external shocks and U.S.

monetary policy shocks. For comparison, Table 1 includes the estimates of the fraction of the variance in the Federal Funds rate, the U.S. price level and U.S. real output caused by U.S. monetary policy shocks. External shocks are an important source of Cited by: Global problems and shocks.

The global economy faces a number of serious challenges in the 21st Century. Globalisation has benefitted most participants, but the increasing interconnectedness of the global economy has created a number of problems. Short term problems. Some global problems are short term, such as the recent recession caused by the financial crash and related banking crisis.

Are the Effects of Monetary Policy Shocks Big or Small. by Olivier Coibion. Published in volume 4, issue 2, pages of American Economic Journal: Macroeconomics, AprilAbstract: This paper studies the small estimated effects of monetary policy shocks from.

The Economic and Monetary Union (EMU) is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages. The policies cover the 19 eurozone states, as well as non-euro European Union states. Each stage of the EMU consists of progressively closer economic integration.

Only once a state participates in the third stage it is. Policy Rules and External Shocks Laurence Ball. NBER Working Paper No.

Issued in September NBER Program(s):Monetary Economics, Economic Fluctuations and Growth This essay discusses rules for monetary policy in open economies. If its members’ economies experience large idiosyncratic shocks, the union’s monetary policy will not always be optimal for each member.

It follows that the benefits of monetary union are more likely to outweigh the potential costs, the greater is the degree of real economic integration among its. FRBSF ECONOMIC LETTER December 3, A PACIFIC BASIN NOTE External Shocks and China’s Monetary Policy BY ZHENG LIU AND MARK M.

SPIEGEL China prohibits its private sector from freely trading foreign assets and tightly manages.The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union.Return to Regional Monetary Integration.

Chapter 1: Introduction. There has been a significant regionalization of international trade. In37 percent of the foreign trade of Canada, Mexico.