 | Targeting the Real Exchange Rate : Theory and Evidence Author/Editor: Carlos A Végh Gramont, Guillermo Calvo, Carmen Reinhart. Release Date:February, 1994 This paper presents a theoretical and empirical analysis of policies aimed at setting a more depreciated level of the real exchange rate. An intertemporal optimizing model suggests that, in the more...
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 | Commodity Prices : Cyclical Weakness or Secular Decline? Author/Editor: Peter Wickham, Carmen Reinhart. Release Date:January, 1994 Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continuously since the early 1980s and there is more...
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 | The Macroeconomic Determinants of Commodity Prices Author/Editor: Eduardo Borensztein, Carmen Reinhart. Release Date:January, 1994 The “traditional structural approach” to the determination of real commodity prices has relied exclusively on demand factors as the fundamentals that explain the behavior of more...
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 | The Capital Inflows Problem : Concepts and Issues Author/Editor: Carmen Reinhart, Leonardo Leiderman, Guillermo Calvo. Release Date:August, 1993 Since 1990 capital has started to move from industrial countries to developing regions like Latin America, the Middle East and parts of Asia. Reentry into international capital markets is a welcome more...
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 | Capital Inflows to Latin America : The 1970's and the 1990's Author/Editor: Carmen Reinhart, Guillermo Calvo, Leonardo Leiderman. Release Date:October, 1992 During the past two years Latin America has received sizable international capital inflows. This paper compares the recent experience with that of the late 1970s. The analysis examines differences more...
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 | Capital Inflows and Real Exchange Rate Appreciation in Latin America : The Role of External Factors Author/Editor: Leonardo Leiderman, Carmen Reinhart, Guillermo Calvo. Release Date:August, 1992 The characteristics of recent capital inflows into Latin America are discussed. It is argued that these inflows are partly explained by conditions outside the region, like recession in the United more...
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 | Private Saving and Terms of Trade Shocks : Evidence From Developing Countries Author/Editor: Jonathan David Ostry, Carmen Reinhart. Release Date:October, 1991 This paper examines the relationship between temporary terms of trade shocks and household saving in developing countries. It is first shown that, from a theoretical standpoint, this relationship is more...
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 | The Demand for Money in Developing Countries : Assessing the Role of Financial innovation Author/Editor: Jose De Gregorio, Peter Wickham, Patricio Arrau, Carmen Reinhart. Release Date:May, 1991 Traditional specifications of money demand have been commonly plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. This paper argues that some of more...
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 | Output Fluctuations and Monetary Shocks : Evidence From Colombia Author/Editor: Vincent Reinhart, Carmen Reinhart. Release Date:March, 1991 Using annual data for Colombia over the last thirty years and a new battery of econometric techniques, we test opposing theories that explain macroeconomic fluctuations: The neoclassical synthesis, more...
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 | Fiscal Policy, the Real Exchange Rate and Commodity Prices Author/Editor: Carmen Reinhart. Release Date:October, 1990 The role of the international commodity market in transmitting disturbances is considered in a model that incorporates commodities as an input in production. The analysis employs a three-country more...
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