Do Assymetric Terms Of Trade Shocks Affect Private Savings In A Transition Economy PDF Download
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| Author | : Abdur R. Chowdhury |
| Publisher | : |
| Total Pages | : 31 |
| Release | : 2003 |
| Genre | : |
| ISBN | : 9789516868557 |
Download Do Asymmetric Terms of Trade Shocks Affect Private Savings in a Transition Economy? Book in PDF, ePub and Kindle
This paper examines whether terms of trade shocks have an asymmetric effect on private savings in transition economies. A simple three-period framework is developed to show that, in the presence of binding credit constraints in bad states of nature, savings rates can be sensitive to favorable movements in the permanent component of the terms of trade. This result contrasts with the prediction of the conventional consumption-smoothing model. Empirical analysis with a dynamic panel model further confirms that while favorable movements in the permanent component of the terms of trade have an asymmetric effect on private savings, the magnitude of the effect is relatively small. The results are robust for alternative estimators, determinants, and country groupings. Published in: Comparative Economic Studies vol. 46 no. 4 (2004) pp. 487-514, ISSN 0888-7233 (Private Savings in Transition Economies: Are there Terms of Trade Shocks?).
| Author | : Abdur Chowdhury |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2007 |
| Genre | : |
| ISBN | : |
Download Do Asymmetric Terms of Trade Shocks Affect Private Savings in a Transition Economy? Book in PDF, ePub and Kindle
This paper examines whether terms of trade shocks have an asymmetric effect on private savings in transition economies. A simple three-period framework is developed to show that, in the presence of binding credit constraints in bad states of nature, savings rates can be sensitive to favorable movements in the permanent component of the terms of trade. This result contrasts with the prediction of the conventional consumption-smoothing model. Empirical analysis with a dynamic panel model further confirms that while favorable movements in the permanent component of the terms of trade have an asymmetric effect on private savings, the magnitude of the effect is relatively small. The results are robust for alternative estimators, determinants, and country groupings.
| Author | : Abdur R. Chowdhury |
| Publisher | : |
| Total Pages | : 39 |
| Release | : 2003 |
| Genre | : |
| ISBN | : |
Download PRIVATE SAVINGS IN TRANSITION ECONOMICS: ARE THERE TERMS OF TRADE SHOCKS ? Book in PDF, ePub and Kindle
| Author | : Abdur R. Chowdhury |
| Publisher | : |
| Total Pages | : 35 |
| Release | : 2003 |
| Genre | : |
| ISBN | : |
Download Private Savings in Transition Economies Book in PDF, ePub and Kindle
| Author | : Abdur R. Chowdhury |
| Publisher | : |
| Total Pages | : 31 |
| Release | : 2003 |
| Genre | : Saving and investment |
| ISBN | : |
Download Do assymetric terms of trade shocks affect private savings in a transition economy? Book in PDF, ePub and Kindle
| Author | : Mr.Paul Cashin |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 1998-12-01 |
| Genre | : Business & Economics |
| ISBN | : 145197504X |
Download Terms of Trade Shocks and the Current Account Book in PDF, ePub and Kindle
This paper examines the relationship between terms of trade shocks, private saving, and the current account position. The relationship between these variables is theoretically ambiguous: an adverse transitory terms of trade shock can either induce a deterioration or an improvement in the current account, depending on whether the resulting income effects are greater or less than the resulting substitution effects. The substitution effects involve both intertemporally substituting consumption and intratemporally substituting consumption between importables and nontradables. The relative strength of these substitution effects is estimated using data for five OECD countries during 1970/95; both are found to exert large and significant effects on the current account balance.
| Author | : Norbert Funke |
| Publisher | : International Monetary Fund |
| Total Pages | : 30 |
| Release | : 2008 |
| Genre | : Business & Economics |
| ISBN | : |
Download Terms of Trade Shocks and Economic Recovery Book in PDF, ePub and Kindle
This paper identifies factors that contribute to a fast recovery in growth after persistent negative terms of trade shocks, using a sample of 159 countries for 1970-2006. The results suggest that policies matter. Fast recoveries are fairly robustly related to real exchange rate depreciation and improvements in government stability and the institutional environment. A timely increase in aid may also support recovery.
| Author | : Paul Anthony Cashin |
| Publisher | : |
| Total Pages | : 40 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Terms of Trade Shocks and the Current Account Book in PDF, ePub and Kindle
This paper examines the relationship between terms of trade shocks, private saving, and the current account position. The relationship between these variables is theoretically ambiguous: an adverse transitory terms of trade shock can either induce a deterioration or an improvement in the current account, depending on whether the resulting income effects are greater or less than the resulting substitution effects. The substitution effects involve both intertemporally substituting consumption and intratemporally substituting consumption between importables and nontradables. The relative strength of these substitution effects is estimated using data for five OECD countries during 1970/95; both are found to exert large and significant effects on the current account balance.
| Author | : Leslie Lipschitz |
| Publisher | : Cambridge University Press |
| Total Pages | : 312 |
| Release | : 2019-01-23 |
| Genre | : Business & Economics |
| ISBN | : 1108568467 |
Download Macroeconomics for Professionals Book in PDF, ePub and Kindle
Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 158 |
| Release | : 2006-07-17 |
| Genre | : |
| ISBN | : 9264025162 |
Download OECD Economic Surveys: Germany 2006 Book in PDF, ePub and Kindle
This 2006 edition of OECD's periodic survey of Germany's economy finds economic activity still weak and uneven, and recommends reforms in a number of areas. Special chapters cover regaining fiscal credibility and improving public efficiency ...
