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open economy

New Open Economy Macroeconomics

New Open Economy Macroeconomics

... for open economy analysis and policy design, overcoming the limitations of the Mundell–Fleming model, while preserving the empirical wisdom and the close connection to policy debates of the traditional ...

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Money demand in an open economy framework: Argentina (1932-2002)

Money demand in an open economy framework: Argentina (1932-2002)

... an open economy ...standard open-economy functional ...are open economy variables, like exchange rate depreciation, spread between local and foreign interest, foreign exchange ...

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How well can the New Open Economy Macroeconomics explain the exchange rate and current account

How well can the New Open Economy Macroeconomics explain the exchange rate and current account

... New Open Economy Macroeconomic literature in an empirical direction, fitting a two-country model by maximum likelihood to data from the ...to open economy ...

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Business cycles in a small open economy with a banking sector

Business cycles in a small open economy with a banking sector

... This paper studies the interest-rate-driven business cycles of a small open economy (SOE). For than end a costly operated banking system is added to the standard real-business-cycles model. Banks are the ...

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Collateral Constraints and Macroeconomic adjustment in an open Economy

Collateral Constraints and Macroeconomic adjustment in an open Economy

... small open economy Ramsey model with adjustment costs for investment and added a borrowing constraint in the tradition of Cohen and Sachs (1986) and Kiyotaki and Moore ...

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The New Open Economy Macroeconomics IS Curve a Requiem and a Redux

The New Open Economy Macroeconomics IS Curve a Requiem and a Redux

... small open economy with perfect access to the world capital market and a fixed rate of time preference, yields awkward consequences that are not tenable either from a theoretical or from an empirical point ...

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Lavoie, M. (2000)The reflux mechanism in the open economy

Lavoie, M. (2000)The reflux mechanism in the open economy

... an open economy with fixed exchange ...the open economy case underlined by neoclassical authors, the money supply increases endogenously, but independently of the demand for money expressed by ...

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A model of medium term exchange rate forecast in an open economy

A model of medium term exchange rate forecast in an open economy

... an open economy adjusted statistically by a logarithmic function; however, we note the absence of a perma- nent measure and unexpected volatility of exchange ...

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DT 15/13 - Exports and real exchange rates in a small open economy

DT 15/13 - Exports and real exchange rates in a small open economy

... Keynesian open economy model (IS-LM-BP), developed by Mundell-Fleming, the RER appears as one of the determinants of aggregate demand, through its impact on ...

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The new open economy macroeconomics: a survey

The new open economy macroeconomics: a survey

... Chang and Devereux (1998) extend the Rotemberg and Woodford (1992) oligopolistic model to an open economy setting. In this framework, CES preferences are retained for different categories of goods ...

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The New Open Economy Macroeconomics of Government Debt

The New Open Economy Macroeconomics of Government Debt

... An obvious example of this unbalance can be found in the development of the New Open Economy Macroeconomics (NOEM) literature. 2 In surveying this ¯eld of research Lane (2001, p. 236), makes a point of ...

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A Bayesian Look at New Open Economy Macroeconomics: Comment

A Bayesian Look at New Open Economy Macroeconomics: Comment

... The open question, needless to say, is to what extent does model misspeci…cation a¤ect the valid- ity of these ...only open-economy variable used in the analysis, it is not clear how much the model ...

10

Financial Flows and Open Economy Macroeconomics

Financial Flows and Open Economy Macroeconomics

... an open economy not characterized by free financial flows, the government would so adjust its expenditure as to achieve the maximum level of activity in the economy that is compatible with balance of ...

10

Open Economy Macroeconomics: The IS-LM-BP Model

Open Economy Macroeconomics: The IS-LM-BP Model

... the economy is above (or to the left) of the curve, and what happens when the economy is below (or to the right) of the ...the economy simultaneously to internal and external ...

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Export Pricing In New Open Economy Macroeconomics: An Empirical Investigation

Export Pricing In New Open Economy Macroeconomics: An Empirical Investigation

... Columns report the median coefficient across all 94 products and the number of significantly positive (at 5%) and significantly negative coefficients. Bilateral distance[r] ...

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Implications of biofuel support policies in Europe - a quantitative analysis in an open economy

Implications of biofuel support policies in Europe - a quantitative analysis in an open economy

... biofuels strategy on global biofuel and agricultural markets..  How these impacts will change if the EU.[r] ...

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The Small-Open-Economy Real-Business-Cycle Model

The Small-Open-Economy Real-Business-Cycle Model

... To match second moments of the data the model aims to explain: The remaining five parameters are set to match the following second moments of Canadian data at business-cycle frequency: A[r] ...

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Credit spreads and monetary policy in a small open economy: an analysis of the colombian economy

Credit spreads and monetary policy in a small open economy: an analysis of the colombian economy

... So far we have described that calibrations of some parameters in order to fulfill some assumptions or reflect Colombian economy steady state rela- tionships. The remaining parameters have to be estimated in order ...

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"Uncertainty shocks in Colombia - characterization and effects"

"Uncertainty shocks in Colombia - characterization and effects"

... These measurements are made using United States data, a textbook large open economy. However, Engle et al. (2008) and Ramey and Ramey (1995) show that besides being sub- ject to local levels of uncertainty, ...

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The Advantage of Tying One s Hands: Revisited

The Advantage of Tying One s Hands: Revisited

... small open economy, to study the outcome of three alternative strategies for a central bank that targets both output and inflation: a policy of pure commitment; a discretionary policy where the exchange rate ...

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