Producer Prices in the Transition to a Common Currency

Producer Prices in the Transition to a Common Currency
Author: Niclas Andrén
Publisher:
Total Pages: 0
Release: 2007
Genre:
ISBN:

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We analyze producer price developments in the transition from a national exchange rate regime to a monetary union. The focus is on the European Economic and Monetary Union (EMU). Stylized facts witness about an exploding gaps in producer-price inflation during the years immediately following the completion of the EMU. Price convergence is found to be an important driver throughout the entire euro period (1999-2005), but with no significant differences in speed compared to the pre euro period. Productivity growth had its primary effect in the first years and effective exchange-rate changes in the later years of the euro period.

Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies

Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies
Author: Mario I. Blejer
Publisher: Springer Science & Business Media
Total Pages: 501
Release: 2007-08-23
Genre: Business & Economics
ISBN: 0585313466

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Integrating transition economies into the global commercial and trade market system is a prolonged and risky process. This book is a collection of studies dealing with the different issues related to the liberalization of external relations in economies moving from a socialist to a market-based system The focus is on external sector developments, and the topics deal with balance of payments conditions, exchange rate policies and regimes, international competitiveness, international capital flows, trade, and other matters related to the integration of transition economies into the world economy. An understanding of the principles involved and of the experiences of both transition and advanced economies during this process is crucial to ensure its ultimate success. Written by internationally recognized scholars, the chapters cover these issues in a systematic manner. The first section treats current account developments, capital flows, and exchange rate policies in transition countries, the second section deals with specific issues related to international trade, and the final section consists of six specific country experiences. In this final section, a chapter dealing with the Russian Federation discusses the collapse of the ruble in August 1998.

Dominant Currency Paradigm: A New Model for Small Open Economies

Dominant Currency Paradigm: A New Model for Small Open Economies
Author: Camila Casas
Publisher: International Monetary Fund
Total Pages: 62
Release: 2017-11-22
Genre: Business & Economics
ISBN: 1484330609

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Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.

Technological Learning in the Transition to a Low-Carbon Energy System

Technological Learning in the Transition to a Low-Carbon Energy System
Author: Martin Junginger
Publisher: Academic Press
Total Pages: 342
Release: 2019-11-25
Genre: Science
ISBN: 0128187638

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Technological Learning in the Transition to a Low-Carbon Energy System: Conceptual Issues, Empirical Findings, and Use in Energy Modeling quantifies key trends and drivers of energy technologies deployed in the energy transition. It uses the experience curve tool to show how future cost reductions and cumulative deployment of these technologies may shape the future mix of the electricity, heat and transport sectors. The book explores experience curves in detail, including possible pitfalls, and demonstrates how to quantify the ‘quality’ of experience curves. It discusses how this tool is implemented in models and addresses methodological challenges and solutions. For each technology, current market trends, past cost reductions and underlying drivers, available experience curves, and future prospects are considered. Electricity, heat and transport sector models are explored in-depth to show how the future deployment of these technologies—and their associated costs—determine whether ambitious decarbonization climate targets can be reached - and at what costs. The book also addresses lessons and recommendations for policymakers, industry and academics, including key technologies requiring further policy support, and what scientific knowledge gaps remain for future research. Provides a comprehensive overview of trends and drivers for major energy technologies expected to play a role in the energy transition Delivers data on cost trends, helping readers gain insights on how competitive energy technologies may become, and why Reviews the use of learning curves in environmental impacts for lifecycle assessments and energy modeling Features social learning for cost modeling and technology diffusion, including where consumer preferences play a major role

Neo-Transitional Economics

Neo-Transitional Economics
Author: Yusaf H. Akbar
Publisher: Emerald Group Publishing
Total Pages: 396
Release: 2015-03-11
Genre: Business & Economics
ISBN: 1784416819

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Neo-transitional economics is a policy-oriented collection of contemporary theoretical and empirical research studies on transition countries in the post-crisis paradigm. Topics covered range from monetary and financial economics to international trade and formation of a welfare state.

The Competitiveness of Transition Economies

The Competitiveness of Transition Economies
Author: OECD
Publisher: OECD Publishing
Total Pages: 234
Release: 1998-07-29
Genre:
ISBN: 9264163387

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This book offers a comprehensive and a comparative approach on the different interactions between trade, FDI and the process of economic transformation.

Introduction to International Economics

Introduction to International Economics
Author: Henk Jager
Publisher: Bloomsbury Publishing
Total Pages: 424
Release: 2017-09-15
Genre: Business & Economics
ISBN: 0230344364

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The second edition of Introduction to International Economics is a non-technical introduction to international economics that builds on the strengths of the first edition. It analyses in a practical way how the internationalization of economic activities influences companies, investors and consumers, as well as foreign and domestic markets. While the book is policy-oriented, the adequate historical and theoretical context is provided. All concepts are discussed in a non-mathematical way and graphic analysis is used to clarify explanations, which makes it ideal for business and MBA students. International economics is attracting ever more attention due to the recent worldwide economic crisis, and this book gives a truly global perspective by discussing real-world examples and case studies from different sectors, including from the Americas, Europe and Asia. New features in this edition include the following: - Updated empirical material - The chapter on balance of payments, the foreign exchange market and their relationship has been completely rewritten - Expanded material on developments in the European monetary integration process - More focus on issues in emerging economies, such as the practice and lessons of currency boards, dollarization, and the occurrence of currency crises

Agricultural Support Policies in Transition Economies

Agricultural Support Policies in Transition Economies
Author: Alberto Valdés
Publisher: World Bank Publications
Total Pages: 172
Release: 2000-01-01
Genre: Business & Economics
ISBN: 9780821347713

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Studies of Russia, Romania, Poland, Bulgaria, and Turkey.

The Rules of the Game

The Rules of the Game
Author: Ronald I. McKinnon
Publisher: MIT Press
Total Pages: 580
Release: 1996
Genre: Business & Economics
ISBN: 9780262133180

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The Rules of the Game brings together essays written over the course of thirty years by a major figure in the field. McKinnon analyzes and compares a wide variety of important international monetary regimes: the establishment of the gold standard in the nineteenth century, Bretton Woods, the dollar standard, floating exchange rates, the European Monetary System, and current proposals for reforming world monetary arrangements. The essays are unique in that they specify precisely the rules of the game for each international monetary regime - past, present, and future. For ease of reference, the book offers boxed summaries of each set of rules and then discusses their advantages and disadvantages, from the gold standard down to the author's proposal for a common monetary standard for the twenty-first century.