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Back Matter

Back Matter »

Source: External Performance in Low-Income Countries

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poo...

Front Matter

Front Matter »

Source: External Performance in Low-Income Countries

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poo...

6 Import and Export Elasticities

6 Import and Export Elasticities »

Source: External Performance in Low-Income Countries

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

This chapter sets out the details of a methodology that can be used to calculate export supply and import demand elasticities without using econometrics. There is a long tradition in estimating trade elastic...

2 Literature on the Main Determinants of External Balance

2 Literature on the Main Determinants of External Balance »

Source: External Performance in Low-Income Countries

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

This chapter reviews the determinants of the real effective exchange rate and of the current account, with particular emphasis on factors that play an important role for lower-income countries. Toward the en...

1 Overview

1 Overview »

Source: External Performance in Low-Income Countries

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

This paper empirically investigates the external balance of low-income countries (LICs) by offering a coherent analysis of determinants of medium- to long-term real exchange rates, current accounts, and net...

7 Trade Elasticities and the Exchange Rate

7 Trade Elasticities and the Exchange Rate »

Source: External Performance in Low-Income Countries

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

Chapters 1 and 2 of this paper discussed the macrobalance approach, which is one method a researcher can use to determine the extent to which a country’s current account balance deviates from it...

CHAPTER 1. A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies

CHAPTER 1. A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies »

Source: Reconstructing the World Economy

Series: Seminar Volumes

Author(s): Il SaKong , and Olivier Blanchard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2010

ISBN: 9781589069770

Keywords: inflation, current account, financial system, central bank, monetary policy

1.1. Introduction In response to the worst economic crisis since the 1930s, government budgets and central banks have provided substantial support for aggregate demand and for the fi...

CHAPTER 9. Comment on “Global Imbalances: In Midstream?”

CHAPTER 9. Comment on “Global Imbalances: In Midstream?” »

Source: Reconstructing the World Economy

Series: Seminar Volumes

Author(s): Il SaKong , and Olivier Blanchard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2010

ISBN: 9781589069770

Keywords: inflation, current account, financial system, central bank, monetary policy

This is an important contribution to the literature on global imbalances, which has been bedevilled hitherto by much muddy thinking. Blanchard and Milesi-Ferretti begin by making the important point that cur...

CHAPTER 10. Comments on Dealing with Global Imbalances

CHAPTER 10. Comments on Dealing with Global Imbalances »

Source: Reconstructing the World Economy

Series: Seminar Volumes

Author(s): Il SaKong , and Olivier Blanchard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2010

ISBN: 9781589069770

Keywords: inflation, current account, financial system, central bank, monetary policy

Few issues in international macroeconomics and finance have occupied the attention of policymakers and researchers in recent years as much as the debate on the causes, consequences, and measurements of globa...

CHAPTER 6. Comments on “Redesigning the Contours of the Future Financial System”

CHAPTER 6. Comments on “Redesigning the Contours of the Future Financial System” »

Source: Reconstructing the World Economy

Series: Seminar Volumes

Author(s): Il SaKong , and Olivier Blanchard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2010

ISBN: 9781589069770

Keywords: inflation, current account, financial system, central bank, monetary policy

“Redesigning the Contours of the Future Financial System” does a particularly nice job in summarizing: what went wrong; the pote...