Search Results

SORT BY: PREVIOUS / NEXT
Author:Loungani, Prakash 

Working Paper
Flying geese or sitting ducks: China’s impact on the trading fortunes of other Asian economies

This paper updates our earlier work (Ahearne, Fernald, Loungani and Schindler, 2003) on whether China, with its huge pool of labor and an allegedly undervalued exchange rate, is hurting the export performance of other emerging market economies in Asia. We continue to find that while exchange rates matter for export performance, the income growth of trading partners matters far more. This suggests the potential for exports of all Asian economies to grow in harmony as long as global growth is strong. We also examine changes in export shares of Asian economies to the U.S. market and find ...
International Finance Discussion Papers , Paper 887

Journal Article
Job creation and destruction

FRBSF Economic Letter

Journal Article
Countering contagion: Does China's experience offer a blueprint?

China did not succumb to the Asian crisis of 1997-99, despite two apparent sources of vulnerability: a weak financial system and increased export competition from the Asian crisis economies. This article argues that both sources of vulnerability were more apparent than real. China's experience (especially its use of capital controls) does not offer a blueprint for other countries, because other countries would not want to replicate China's inefficient, non-market-oriented financial system.
Economic Perspectives , Volume 25 , Issue Q IV

Working Paper
Regional labor fluctuations: oil shocks, military spending, and other driving forces

We quantify the contribution of various driving forces to state-level movements in unemployment rates and employment growth from 1956 to 1992. Our story of regional fluctuations in the U.S. economy has a large cast of players -- including government contract awards and the basing of military personnel -- but oil price shocks have been the leading actor since 1973. Beyond the magnitude and abruptness of oil price movements, the explanation for their pronounced regional effects has three essential elements: (i) regions differ in industry mix, (ii) industries differ in sensitivity to movements ...
International Finance Discussion Papers , Paper 578

Journal Article
Stock market dispersion and business cycles

Economic Perspectives , Volume 15 , Issue Jan , Pages 2-8

Working Paper
The role of energy in real business cycle models

Working Paper Series, Macroeconomic Issues , Paper 91-6

Working Paper
Central bank independence, inflation and growth in transition economies

In this paper, we document two empirical relationships that have emerged as the former communist countries have taken steps to transform their economies from command systems to market-based systems. First, increased central bank independence has tended to improve inflation performance. Second, high inflation has adversely affected real activity. More specifically, in the first section of this paper, we develop indices of central bank independence (CBI) for twelve transition economies and examine the relationship between CBI and inflation performance across these countries. Statistical ...
International Finance Discussion Papers , Paper 519

Working Paper
Labor mobility, unemployment and sectoral shifts: evidence from micro data

Working Paper Series, Macroeconomic Issues , Paper 89-22

Working Paper
Stock market dispersion and real economic activity: evidence from quarterly data

Working Paper Series, Macroeconomic Issues , Paper 90-15

Working Paper
Supply-side sources of inflation: evidence from OECD countries.

We evaluate the merits of the "supply-side" view under which inflation results from sectoral shocks, and compare it with the "classical" view in which inflation results from aggregate factors such as variations in money growth. Using a panel VAR methodology applied to data for 13 GECD countries, we find support for a multi-shock view of inflation: supply-side shocks are statistically significant determinants of inflation, even after taking into account aggregate demand factors. While oil prices are the dominant supply-side influence, other measures such as the skewness of relative price ...
International Finance Discussion Papers , Paper 515

FILTER BY year

FILTER BY Content Type

FILTER BY Jel Classification

F10 1 items

F14 1 items

J24 1 items

J31 1 items

O14 1 items

FILTER BY Keywords

PREVIOUS / NEXT