 | The Return of Expansionary Austerity: Firms' Investment Response to Fiscal Adjustments in Emerging Markets Author/Editor: Nicolas E Magud, Samuel Pienknagura. Release Date:April, 2022 We study the response of corporate investment in Emerging Markets to unexpected fiscal shocks. We find that, although firm-level investment decreases on impact following unexpected public expenditure more...
| Price: $5.00
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| The Long-Run Impact of Sovereign Yields on Corporate Yields in Emerging Markets Author/Editor: Delong Li, Nicolas E Magud, Alejandro M Werner, Samantha Witte. Release Date:June, 2021 We analyze the long-run impact of emerging-market sovereign bond yields on corporate bond yields, finding that the average pass-through is around one. The pass-through is larger in countries with more...
| Price: $18.00
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 | Foreign Exchange Intervention in Inflation Targeters in Latin America Author/Editor: Marcos d Chamon, David J Hofman, Nicolas E Magud, Alejandro M Werner. Release Date:February, 2019 Foreign exchange intervention is widely used as a policy tool, particularly in emerging markets, but many facets of this tool remain limited, especially in the context of flexible exchange rate more...
| Price: $30.00
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| No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect Author/Editor: Yan Carriere-Swallow, Nicolas E Magud, Juan Yepez. Release Date:September, 2018 Theoretical models on the relationship between prices and exchange rates predict that the magnitude of expenditure switching affects the optimal choice of exchange rate regime. Focusing on the more...
| Price: $18.00
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| Real Exchange Rates, Economic Complexity, and Investment Author/Editor: Steve Brito, Nicolas E Magud, Sebastian Sosa. Release Date:May, 2018 We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia more...
| Price: $18.00
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| Terms-of-Trade Cycles and External Adjustment Author/Editor: Gustavo Adler, Nicolas E Magud, Alejandro M Werner. Release Date:February, 2017 We study the process of external adjustment to large terms-of-trade level shifts—identified with a Markov-switching approach—for a large set of countries during the period 1960–2015. We find more...
| Price: $18.00
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| Monetary Policy Credibility and Exchange Rate Pass-Through Author/Editor: Yan Carriere-Swallow, Bertrand Gruss, Nicolas E Magud, Fabian Valencia. Release Date:December, 2016 A long-standing conjecture in macroeconomics is that recent declines in exchange rate pass-through are in part due to improved monetary policy performance. In a large sample of emerging and advanced more...
| Price: $18.00
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| Central Banking in Latin America : The Way Forward Author/Editor: Yan Carriere-Swallow, Luis I Jacome H, Nicolas E Magud, Alejandro M Werner. Release Date:September, 2016 Latin America’s central banks have made substantial progress towards delivering an environment of price stability that is supportive of sustainable economic growth. We review these achievements, more...
| Price: $18.00
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| Corporate Investment in Emerging Markets : Financing vs. Real Options Channel Author/Editor: Delong Li, Nicolas E. Magud, Fabian Valencia. Release Date:December, 2015 We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a more...
| Price: $18.00
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| Collateral Damage : Dollar Strength and Emerging Markets' Growth Author/Editor: Pablo Druck, Nicolas E. Magud, Rodrigo Mariscal. Release Date:July, 2015 We document that, historically, although stronger growth in the U.S. increases growth in emerging markets, U.S. dollar appreciation (depreciation) cycles—which are highly persistent—mitigate more...
| Price: $18.00
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