Foreign Capital and Economic Growth (2007)
Prasad, Eswar., Rajan, Raghuram., Subramanian, Arvind.
Brookings Papers on Economic Activity - Number 1, 2007
Thesis (Ph. D.)--University of Chicago, Department of Economics, June 1992.
Thesis (Ph. D.)--University of Chicago, 1992.
Changes in the Structure of Earnings During the Polish Transition
Eswar Prasad, Michael P. Keane
Wages , Poland , Labor ,
Multimod Mark III: The Core Dynamic and Steady State Model
Hamid Faruqee, Peter Isard, Douglas Laxton, Eswar Prasad, Bart Turtelboom
This study describes the Mark III version of MULTIMOD, the IMF's multi region macroeconomic model. Mark III version of MULTIMOD differs from its predecessor in several important respects. New...
The Chinese Approach to Capital Inflows: Patterns and Possible Explanations
In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by...
How Do Trade and Financial Integration Affect the Relationship Between Growth and Volatility?
M. Ayhan Kose, Eswar Prasad, Marco Terrones
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom-that output volatility and growth are negatively...
The Chinese Approach to Capital Inflows: Patterns and Possible Explanations
In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by...
Financial Globalization: A Reappraisal
Kose, Ayhan, Prasad, Eswar, Rogoff, Kenneth, Wei, Shang-Jin
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting...
Financial Globalization: A Reappraisal
M. Ayhan Kose, Eswar Prasad, Kenneth S. Rogoff, Shang-Jin Wei
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting...
A Framework for Independent Monetary Policy in China
Marvin Goodfriend, Eswar Prasad
As China's economy becomes more market based and continues its rapid integration into the global economy, having an independent and effective monetary policy regime oriented to domestic objectives...
Wage Inequality in the United Kingdom, 1975-99
This paper provides evidence that cross-sectional wage inequality in the U.K. rose sharply in the 1980s, continued to rise moderately through the mid-1990s and has remained essentially unchanged...
A Framework for Independent Monetary Policy in China
Marvin Goodfriend, Eswar Prasad
As the Chinese economy becomes more market based and continues its rapid integration into the global economy, having an independent and effective monetary policy regime oriented to domestic...
Macroeconomic Fluctuations in Developing Countries - Some Stylized Facts
Eswar Prasad, Pierre-Richard Agénor, C. John McDermott
Business cycles , Developing countries ,
China's Growth and Integration into the World Economy: Prospects and Challenges
China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades....
Why Are Saving Rates of Urban Households in China Rising?
From 1995 to 2005, the average urban household saving rate in China rose by 8 percentage points, to about one quarter of disposable income. We use household-level data to explain why households are...
Patterns of international capital flows and their implications for economic development
Eswar Prasad, Raghuram G. Rajan, Arvind Subramanian
Capital ; Economic development
Global Business Cycles: Convergence or Decoupling?
Kose, M. Ayhan, Otrok, Christopher, Prasad, Eswar
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,...
Skill Heterogeneity and the Business Cycle.
This paper extends the real business cycle framework to incorporate ex ante skill heterogeneity among workers. Consistent with the empirical evidence, skilled and unskilled workers in the model face...
How do trade and financial integration affect the relationship between growth and volatility?
Ayhan Kose, Marco E. Terrones, Eswar Prasad
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom - that output volatility and growth are negatively...
Labour Market Adjustment in Canada and the United States
This paper provides a quantitative assessment of the relative importance of different labour market adjustment mechanisms in Canada and the United States. The effects of the unemployment insurance...
Currency Unions, Economic Fluctuations and Adjustment: Some Empirical Evidence
This paper compares sources of disturbances to output and labour market adjustment in the US currency union compared to a set of EU countries. Comparable datasets comprising 1-digit sectoral data for...
Financial Globalization, Growth and Volatility in Developing Countries
Kose, Ayhan, Prasad, Eswar, Rogoff, Kenneth, Wei, Shang-Jin
This Paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on growth and volatility in developing countries. The results suggest that it is...
Financial Globalization: A Reappraisal
Kenneth Rogoff, M. Ayhan Kose, Eswar Prasad, Shang-Jin Wei
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...
Prices , Production , Inflation , Economic models ,
The Canadian Labor Market - Developments, Prospects, and Policy
Labor markets , Canada , Unemployment , Labor market policy , Labor costs ,
The Employment and Wage Effects of Oil Price Changes: A Sectoral Analysis
Eswar Prasad, Michael P. Keane
Oil prices , Wages , Employment , Skilled labor ,
Labor Market Aspects of Industrial Restructuring in Canada
Labor market policy , Canada , Industrial policy , Production ,
The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages
Eswar Prasad, Michael P. Keane
Labor markets , Skilled labor , Employment , Wages ,
Are Prices Countercyclical? Evidence from the G-7
Prices , Inflation , Production , Unemployment , Group of Seven ,
Changes in the Relationship Between the Long-Term Interest Rate and Its Determinants
Interest rates , United States , Economic models ,
Shocks and Structural Breaks - Labor Market Reforms in the United Kingdom
Eswar Prasad, Ramana Ramaswamy
Labor market policy , United Kingdom , Wages , Productivity ,
Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan
Real effective exchange rates , Japan , Economic models ,
Labor Market Adjustment in Canada and the United States
Labor market policy , Canada , United States , Unemployment ,
Skill Heterogeneity and Aggregation Bias over the Business Cycle
Labor , Skilled labor , Wages , Economic models ,
Currency Unions, Economic Fluctuations, and Adjustment - Some New Empirical Evidence
Economic growth , Monetary unions , United States , Labor markets ,
European Economic and Monetary Union , Switzerland , Swiss franc , Monetary policy , Inflation , Interest rates ,
International Evidence on the Determinants of Trade Dynamics
Eswar Prasad, Jeffery A. Gable
Balance of trade , Business cycles , Exchange rates , Developed countries , Economic models ,
The Italian Labor Market: Stylized Facts, Institutions, and Directions for Reform
Labor markets , Italy , Employment , Wages ,
Consumption and Income Inequality in Poland During the Economic Transition
Eswar Prasad, Michael P. Keane
Consumption , Poland , Income ,
International Trade and the Business Cycle
International trade , Business cycles , Balance of trade ,
Identifying the Common Component in International Economic Fluctuations - A New Approach
Eswar Prasad, Robin L. Lumsdaine
Economic growth , Business cycles , Economic models ,
The Unbearable Stability of the German Wage Structure - Evidence and Interpretation
Wages , Germany , Labor markets ,
Menzie David Chinn, Eswar Prasad
Current account , Developing countries , Developed countries , Savings , Investment ,
International Spillovers of Macroeconomic Shocks - A Quantitative Exploration
Economic conditions , Developed countries , Interest rates ,
Inequality, Transfers and Growth - New Evidence from the Economic Transition in Poland
Eswar Prasad, Michael P. Keane
Economic growth , Poland , Transition economies , Income , Economic reform ,
What Determines the Reservation Wages of Unemployed Workers? New Evidence from German Micro Data
This paper provides new empirical evidence on the relationship between reservation wages of unemployed workers and macroeconomic factors--including the unemployment rate and generosity of the...
How Does Globalization Affect the Synchronization of Business Cycles?
M. Ayhan Kose, Eswar Prasad, Marco Terrones
This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at...
Financial Integration and Macroeconomic Volatility
M. Ayhan Kose, Eswar Prasad, Marco Terrones
This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major...
Volatility and Comovement in a Globalized World Economy: An Empirical Exploration
M. Ayhan Kose, Eswar Prasad, Marco Terrones
This paper analyzes the evolution of volatility and cross-country comovement in output, consumption, and investment fluctuations using two distinct datasets. The results suggest that there has been a...
How Does Financial Globalization Affect Risk Sharing? Patterns and Channels
M. Ayhan Kose, Eswar Prasad, Marco Terrones
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...
Eswar Prasad, Thomas Rumbaugh, Qing Wang
Capital controls , China , Exchange rate regimes , Financial sector , Capital account liberalization ,
Controlled Capital Account Liberalization: A Proposal
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...
Perspectives on Regional Unemployment in Europe
Paolo Mauro, Eswar Prasad, Antonio Spilimbergo
Unemployment , Europe ,
Hong Kong SAR: Meeting the Challenges of Integration with the Mainland
Ida Liu, Dora M. Iakova, William Lee, Hong Liang, Eswar Prasad, ...
China , Economic conditions , Economic policy , Economic stabilization , Exchange rate policy , Hong Kong SAR ,
A Pragmatic Approach to Capital Account Liberalization
Prasad, Eswar, Rajan, Raghuram G.
Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic...
Does Openness to International Financial Flows Contribute to Productivity Growth?
Kose, M. Ayhan, Prasad, Eswar, Terrones, Marco E.
Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature...