 | What Measure of Inflation Should a Developing Country Central Bank Target? Author/Editor: Rahul Anand, Eswar Prasad, Boyang Zhang. Release Date:September, 2015 In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in more...
| Price: $18.00
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| Income Uncertainty and Household Savings in China Author/Editor: Kai Liu, Marcos Chamon, Eswar Prasad. Release Date:December, 2010 China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain more...
| Price: $18.00
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| Optimal Price Indices for Targeting Inflation Under Incomplete Markets Author/Editor: Rahul Anand, Eswar Prasad. Release Date:September, 2010 In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We develop a two-sector two-good new-Keynesian more...
| Price: $18.00
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| Does Openness to International Financial Flows Raise Productivity Growth? Author/Editor: Eswar Prasad, Marco Terrones, Ayhan Kose. Release Date:October, 2008 This paper provides a comprehensive analysis of the relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various measures of more...
| Price: $18.00
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| Global Business Cycles : Convergence or Decoupling? Author/Editor: Ayhan Kose, Eswar Prasad, Christopher Otrok. Release Date:June, 2008 This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, more...
| Price: $18.00
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| Why are Saving Rates of Urban Households in China Rising? Author/Editor: Marcos Chamon, Eswar Prasad. Release Date:June, 2008 From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to ¼ of disposable income. We use household-level data to explain the postponing of consumption more...
| Price: $18.00
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| How Does Financial Globalization Affect Risk Sharing? Patterns and Channels Author/Editor: Marco Terrones, Ayhan Kose, Eswar Prasad. Release Date:October, 2007 In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the more...
| Price: $18.00
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| Financial Globalization : A Reappraisal Author/Editor: Ayhan Kose, Eswar Prasad, Kenneth Rogoff, Shang-Jin Wei. Release Date:August, 2006 The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently more...
| Price: $15.00
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 | Modernizing China's Growth Paradigm Author/Editor: Eswar Prasad, Raghuram Rajan. Release Date:March, 2006 China has achieved tremendous economic progress in the last three decades, but there is much work to be done to make the economy resilient to large shocks, ensure the sustainability of its growth, more...
| Price: $15.00
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| Controlled Capital Account Liberalization : A Proposal Author/Editor: Eswar Prasad, Raghuram Rajan. Release Date:October, 2005 In this paper, we develop a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a more...
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