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  1. Macroeconomic constraints on economic development and poverty reduction
    the case of Bolivia
    Author: Schweickert, Rainer
    Published: 2001
    Publisher:  Inst. of World Economics, Kiel

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  2. Macroeconomic constraints on economic development and poverty reduction : the case of Bolivia
    Author: Schweickert, Rainer
    Published: 2001
    Publisher:  Kiel Institute for the World Economy (IfW), Kiel

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  3. Uncertainty, politics, and crises
    the case for cash
    Author: Rösl, Gerhard; Seitz, Franz
    Published: 2023
    Publisher:  Institute for Monetary and Financial Stability, Goethe University Frankfurt, Frankfurt am Main

    We analyze the repercussions of different kinds of uncertainty on cash demand, including uncertainty of the digital infrastructures, confidence crises of the financial system, natural disasters, political uncertainties, and inflationary crises. Based... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 464
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    We analyze the repercussions of different kinds of uncertainty on cash demand, including uncertainty of the digital infrastructures, confidence crises of the financial system, natural disasters, political uncertainties, and inflationary crises. Based on a comprehensive literature survey, theoretical considerations and complemented by case studies, we derive a classification scheme how cash holdings typically evolve in each of these types of uncertainty by separating between demand for domestic and international cash as well as between transaction and store of value balances. Hereby, we focus on the stabilizing macroeconomic properties of cash and recommend guidelines for cash supply by central banks and the banking system. Finally, we exemplify our analysis with five case studies from the developing world, namely Venezuela, Zimbabwe, Afghanistan, Iraq, and Libya.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/273081
    Series: Working paper series / Institute for Monetary and Financial Stability ; no. 186 (2023)
    Subjects: Cash; banknotes; money; crises; stabilization; uncertainty
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  4. Ghana's macroeconomic crisis
    causes, consequences, and policy responses
    Author: Younger, Stephen D.
    Published: January 2016
    Publisher:  International Food Policy Research Institute, Washington, DC, USA

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: IFPRI discussion paper ; 01497
    Subjects: Ghana; macroeconomy; stabilization
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  5. A branch-and-price algorithm for parallel machine scheduling using ZDDs and generic branching
    Author: Kowalczyk, D.; Leus, Roel
    Published: Dec-2016
    Publisher:  KU Leuven, Faculty of Economics and Business, Leuven, België

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: KBI ; KBI_16, 31
    Subjects: parallel machine scheduling; weighted completion times; branch and price; ZDD; stabilization
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  6. Causal effects of countercyclical interest rates
    evidence from the classical gold standard
    Author: Mitchener, Kris; Pina, Gonçalo
    Published: April 2022
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    We estimate the causal impact of countercyclical interest rates on macroeconomic outcomes in open economies. To identify countercyclical interest rates, we construct a new database of short-term interest rates, principal exports, and international... more

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    We estimate the causal impact of countercyclical interest rates on macroeconomic outcomes in open economies. To identify countercyclical interest rates, we construct a new database of short-term interest rates, principal exports, and international commodity prices for 40 economies from 1870 to 1913. This era of capital mobility, nominal anchors, specialization and trade integration, exposed economies to multiple exogenous demand-side shocks. Specialization and trade integration subjected economies to a "commodity lottery" in the form of price fluctuations in world markets. Capital mobility and a currency peg exposed them to interest-rate movements originating in the U.K., the largest economy and linchpin of the classical gold standard. We identify (i) positive effects of commodity-export prices on real GDP and the domestic price level and (ii) negative effects of exogenous changes in short-term interest rates on the same variables. We then show that countercyclical interest rates, defined relative to export-price shocks, stabilized both output and the domestic price level. This stabilization was more effective for the price level than for output.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/260846
    Series: CESifo working paper ; no. 9716 (2022)
    Subjects: countercyclical interest rates; stabilization; gold standard; commodity lottery
    Scope: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  7. On the stabilizing role of cash for societies
    Author: Rösl, Gerhard; Seitz, Franz
    Published: [2022]
    Publisher:  Institute for Monetary and Financial Stability, Goethe University Frankfurt, Frankfurt am Main

    In this paper, we focus on the stabilizing role of cash from a society-wide perspective. Starting with conceptual remarks on the importance of money for the economy in general, special attention is paid to the unique characteristics of cash. As these... more

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    In this paper, we focus on the stabilizing role of cash from a society-wide perspective. Starting with conceptual remarks on the importance of money for the economy in general, special attention is paid to the unique characteristics of cash. As these become apparent especially during crisis periods, a comparison of the Great Depression (1929 - 1933) and the Great Recession 2008/09 shows the devastating effects of a severe monetary contraction and how a fully elastic provision of cash can help to avoid such a situation. We find interesting similarities to both crises in two separate case studies, one on the demonetization in India 2016 and the other on cash supply during various crises in Greece since 2008. The paper concludes that supply-driven cash withdrawals from circulation (either by demonetization or by capital controls) destabilize the economy if electronic payment substitutes are not instantly available. However, as there is no perfect substitute for cash due to its unique properties, from the viewpoint of the society as a whole an efficient payment mix necessarily includes cash: It helps to stabilize the economy not only in times of crises in general, no matter which government is in place. Consequently, it should be the undisputed task of central banks to ensure that cash remains in circulation in normal times and is provided in a fully elastic way in times of crisis.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/261291
    Series: Working paper series / Institute for Monetary and Financial Stability ; no. 167 (2022)
    Subjects: Cash; banknotes; money; crises; stabilization
    Scope: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  8. The welfare costs of business cycles unveiled
    measuring the extent of stabilization policies
    Author: Barros, Fernando; Gomes, Fábio A.; Luduvice, André Victor Doherty
    Published: 2021
    Publisher:  Federal Reserve Bank of Cleveland, [Cleveland, OH]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Working paper / Federal Reserve Bank of Cleveland ; 21, 14 (July 2021)
    Subjects: business cycles; consumption; stabilization; macroeconomic history
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  9. Macroeconomic adjustment
    policy instruments and issues
    Contributor: Davis, Jeffrey M. (Hrsg.)
    Published: 1992
    Publisher:  IMF Institute, International Monetary Fund, Washington, DC

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    Arnold-Bergstraesser-Institut für kulturwissenschaftliche Forschung, Bibliothek
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    Frei 119: Q-X-B-0395-00
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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    16 : M 4800 Adj
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    Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Bibliothek
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    Int: IX Publ/IMFI: 1
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    Centre for Asian and Transcultural Studies (CATS), Abteilung Südasien
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    wiw 93/29 Kp
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    Thüringer Universitäts- und Landesbibliothek
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    96 NB 1114/1
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    C 180668
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    Universität Konstanz, Kommunikations-, Informations-, Medienzentrum (KIM)
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    wrm 333.20/d20
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    Universitätsbibliothek Mannheim
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    Deutsche Universität für Verwaltungswissenschaften Speyer, Universitätsbibliothek
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    Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim
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    Source: Union catalogues
    Contributor: Davis, Jeffrey M. (Hrsg.)
    Language: English
    Media type: Book
    Format: Print
    ISBN: 1557753032
    RVK Categories: QG 020 ; QN 300
    Subjects: IWF-Kredit; Geldpolitik; Steuerpolitik; Wechselkurspolitik; Außenwirtschaftspolitik; Internationale Staatsschulden; Entwicklungsländer
    Other subjects: Array; Array; Array
    Scope: 90 S., graph. Darst.
    Notes:

    August 1992

    Includes bibliographical references
  10. Time-varying fiscal multipliers for South Africa
    a large time-varying parameter vector autoregression approach
    Author: Du Rand, Gideon; Hollander, Hylton; Van Lill, Dawie
    Published: August 2023
    Publisher:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    A critical requirement for efficient fiscal policy is a reliable understanding of its impact on the aggregate economy for different policy instruments and under different economic conditions. Indeed, there is strong evidence to suggest that fiscal... more

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    A critical requirement for efficient fiscal policy is a reliable understanding of its impact on the aggregate economy for different policy instruments and under different economic conditions. Indeed, there is strong evidence to suggest that fiscal multipliers vary with economic conditions, the components of government decision-making that are considered, and the identification strategy and modelling approach used. Previous studies on South Africa have typically used small-scale models or constant coefficient linear settings, which do not fully capture either the disaggregated components of spending and tax revenue or the time-varying nature of fiscal multipliers. In this paper we add to the critical evaluation of these limitations by using a large time-varying parameter vector autoregression approach estimated with Bayesian methods. We argue for an agnostic approach that studies the components of aggregate output in an economy which imposes as few restrictions and assumptions as possible. We model the impact of the government-controlled components of output on all other components and present a new way of reconciling these results to aggregate results in other studies. We find multipliers at the lower end of other findings in the literature on South Africa: our estimate of the average cumulative fiscal multiplier of government consumption on output is 0.155, while that of government investment is -0.118. Our approach also casts a cautionary light on both existing research and novel methods used to measure fiscal multipliers. As a result, convincing evidence that fiscal policy can be used actively for business cycle stabilization remains elusive.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789292674144
    Other identifier:
    hdl: 10419/283802
    Series: WIDER working paper ; 2023, 106
    Subjects: time-varying parameter vector autoregression; fiscal multipliers; Bayesian methods; stabilization
    Scope: 1 Online-Ressource (circa 25 Seiten), Illustrationen