Temat: open economy macroeconomics - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: Some implications of behavioral finance for international monetary analysis
Autorzy:: Willet, Thomas D.
Powiązania:: https://bibliotekanauki.pl/articles/50983937.pdf
Data publikacji:: 2024
Wydawca:: Uniwersytet Ekonomiczny w Poznaniu. Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Tematy:: behavioral finance
capital flows
efficient markets
international monetary analysis
open-economy macroeconomics
Opis:: This paper discusses some of the important insights from behavioral finance for international monetary and financial analysis. A broad approach to behavioral finance is advocated which includes analysis of the effects of uncertainty, perverse incentives, and complexity economics as well as the cognitive biases focused on in the initial contributions to behavioral finance. It offers reasons why capital mobility is often not perfect and expectations are sometimes not rational. Correctly interpreted it is not a wholesale attack on efficient market theory but rather argues that markets can behave differently at different times, being efficient sometimes and subject to destabilize or insufficiently stabilizing speculation at others and focuses on the conditions that make different types of behavior more likely. It helps provide insights into issues such as currency crisis, the effects of official intervention in foreign exchange markets, the international monetary trilemma, capital flow surges and reversals, the discipline effects of fixed exchange rates and international financial markets and why uncovered interest rate parity often does not hold.
Źródło:: Economics and Business Review; 2024, 10, 1; 7-29
2392-1641
Pojawia się w:: Economics and Business Review
Dostawca treści:: Biblioteka Nauki

Artykuł

Zmień widok

na półce

Skocz do pozycji: 2.

Tytuł:: Sources of Real Exchange Rate Variability in Central and Eastern European Countries: Evidence from Structural Bayesian MSH-VAR Models
Autorzy:: Dąbrowski, Marek A.
Kwiatkowski, Łukasz
Wróblewska, Justyna
Powiązania:: https://bibliotekanauki.pl/articles/2075254.pdf
Data publikacji:: 2020
Wydawca:: Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:: open economy macroeconomics
real exchange rate
real and nominal shocks
Bayesian MS-VAR models
structural VAR models
Opis:: This paper investigates the relative importance of cost, demand, financial and monetary shocks in driving real exchange rates in four CEE countries over 2000–2018. A two-country New Keynesian open economy model is used as a theoretical framework. In the empirical part, a Bayesian SVAR model with Markov switching heteroscedasticity is employed. The structural shocks are identified on the basis of volatility changes and named with reference to the sign restrictions derived from the economic model. Main findings are fourfold. First, real and financial shocks have similar contributions to real exchange variability, whereas that of monetary shocks is small. Second, financial shocks amplify exchange rate fluctuations stemming from real shocks. Third, even though the exchange rate gaps change over time, they remain quite similar across CEE countries except for Slovakia. Fourth, Slovakia introduced the euro at the time of a relatively large real overvaluation, which subsided after a lengthy adjustment process.
Źródło:: Central European Journal of Economic Modelling and Econometrics; 2020, 4; 369-412
2080-0886
2080-119X
Pojawia się w:: Central European Journal of Economic Modelling and Econometrics
Dostawca treści:: Biblioteka Nauki

Artykuł

Zmień widok

na półce

Skocz do pozycji: 3.

Tytuł:: Możliwości rozwoju technologii w otwartej gospodarce
The possibility of technical progress in an open economy
Autorzy:: Holko, Maciej
Powiązania:: https://bibliotekanauki.pl/articles/452355.pdf
Data publikacji:: 2017
Wydawca:: Wyższa Szkoła Gospodarki Euroregionalnej im. Alcide De Gasperi w Józefowie
Tematy:: model postkeynesowski
teoria wzrostu w otwartej gospodarce
postęp techniczny
integracja europejska
macroeconomics – general aggregative models: Post-Keynesian open economy
technical progress
economic integration
Opis:: The adoption of Lisbon Strategy proves that European Commission and Council realised the importance of innovation. Lisbon Strategy: a) aimed at achieving very ambition target – developing the European economy to the most technologically advanced region in the world, b) especially, the amended version of the Strategy – Europe 2020, was the guideline for the programming of structural fund, which in turn aimed at increasing the social-economic cohesion among the regions and countries, c) should not be analized in separation of single market regulation (competition policy), state aid aquis and the rules of fiscal and monetary stability. The optimisic belief, that the less developed countries can grow faster and catch up the leaders due to intense technical progress, arised from the neoclassical theory of growth based on the aggregate production function. But neither statistical data nor heterodox theory of growth supports this belief. In post-keynesian models the demand side of the open economy must regard the Thirlwall’s law. The balance of payments influence the technology through the Verdoorn-Kaldor law. Basically, this is the reason of uneven development among the member states: in European Union there is “club” consist of countries with high income and high technology but the rest tends to create a group with income lower than average. This supports the Quah’s divergence hypothesis. It seems that the european regulations and policies, including cohesion policy, are not sufficient to counter the negative consequences of common market. Economic integration calls for demand policy (i.e. another distribution of income), especially – investment and industrial policy in the Southern and Eastern Europe.
W pierwszej części artykułu przedstawiono teorie wyjaśniające zjawisko nierównego wzrostu i rozwoju, w tym – odmiennego poziomu postępu technicznego. Teorie te wsparto następnie opisem statystycznym. W drugiej części porównano postkeynesowską politykę wzrostu z polityką stosowaną w UE. Utrzymujące się w Europie rozbieżności w zakresie technicznego zaawansowania produkcji i skali innowacji przemawiają za skorygowaniem strategii, polityk i regulacji, zgodnie z propozycjami wynikającymi z modeli postkeynesowskich.
Źródło:: Journal of Modern Science; 2017, 34, 3; 105-123
1734-2031
Pojawia się w:: Journal of Modern Science
Dostawca treści:: Biblioteka Nauki

Artykuł

Zmień widok

na półce

Informacja

Wyszukujesz frazę "open economy macroeconomics" wg kryterium: Temat

Źródło danych

Dostawca treści

Kolekcja

Rok wydania

Wydawca

Temat

Autor

Typ dokumentu

Język