International linkages and macroeconomic adjustment /--Hamid Faruqee. (1994)
Thesis (Ph. D.)--Princeton University, 1994.
A Fair Exchange? Theory and Practice of Calculating Equilibrium Exchange Rates
Tamim Bayoumi, Hamid Faruqee, Jaewoo Lee
We develop a theory-based model of equilibrium exchange rates incorporating factors that have been found to matter empirically. The model provides insights into how variables should be measured and...
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 Determinants of International Portfolio Holdings and Home Bias
Shujing Li, Isabel K. Yan, Hamid Faruqee
Despite the liberalization of foreign portfolio investment around the globe since the early 1980s, the home-bias phenomenon is still found to exist. Using a relatively new IMF survey dataset of...
Exchange Rate Pass-Through in the Euro Area: The Role of Asymmetric Pricing Behavior
Exchange rate pass-through in a set of euro area prices along the pricing chain is examined. Using a vector autoregression (VAR) approach, the empirics analyze the joint time-series behavior of the...
Macroeconomic Effects and Policy Challenges of Population Aging
Hamid Faruqee, Natalia T. Tamirisa
This paper simulates the macroeconomic effects of population aging in a dynamic overlapping generations model of a small open economy. The model is calibrated to data for the Czech Republic, where...
Population Aging in Japan: Demographic Shock and Fiscal Sustainability
Hamid Faruqee, Martin Mühleisen
The paper develops a general equilibrium framework to examine the economic implications of population aging in Japan. Particular attention is paid to aggregate saving behavior which is modeled on the...
Population Aging and Its Macroeconomic Implications: A Framework for Analysis
This paper develops a model to examine the macroeconomic implications of population aging. Using a general equilibrium framework, the analysis examines the various channels through which changes in...
Debt, Deficits, and Age-Specific Mortality
This paper develops an overlapping agents model with age-specific mortality rates. The analytical framework also nests Blanchard's (1985) "perpetual youth" model as a special, though perhaps not...
Exchange Rate Pass-Through in the Euro Area
Exchange rate pass-through in a set of euro area prices along the pricing chain is examined in this paper. First, a vector autoregression (VAR) approach is used to analyze the joint time-series...
GEM: A New International Macroeconomic Model
Ivan Tchakarov, Philippe D Karam, Tamim Bayoumi, Hamid Faruqee, Ben Hunt, Douglas Laxton, ...
Over the past two years, the IMF staff has been developing a new multi country macro economic model called the Global Economy Model (GEM). This occasional paper explains why such a model is needed,...
Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis
Faruqee, Hamid, Laxton, Doug, Muir, Dirk, Pesenti, Paolo
In the evolving debate and analysis of global imbalances, a commonly overlooked issue pertains to rising protectionism. This paper attempts to fill that gap, examining the macroeconomic implications...
Asset Markets and Endogenous Liquidity.
In financial markets characterized by imperfect depth, speculative trading will have transitory effects on the market price as market makers must be compensated for the risk of holding the asset. The...
Exchange Rate Pass-Through in the Euro Area
Exchange rate pass-through in a set of euro area prices along the pricing chain is examined in this paper. First, a vector autoregression (VAR) approach is used to analyze the joint time-series...
Endogenous Liquidity Providers and Exchange Rate Dynamics
The high variance of exchange rates can be partially explained by the fact that traders with transitory demands can have temporary effects on the market rates. In this paper we explore theoretically...
Debt, Deficits, and Age-specific Mortality
This paper develops an overlapping agents model with age-specific mortality rates. The analytical framework also nests Blanchard's (1985, Journal of Political Economy 82, 1095–1117) "perpetual...
Would protectionism defuse global imbalances and spur economic activity?: a scenario analysis
Hamid Faruqee, Douglas Laxton, Dirk Muir, Paolo Pesenti
In the evolving analysis of global imbalances, the possibility that countries will resort to increased protectionism is often mentioned but rarely analyzed. This paper attempts to fill that gap,...
Dynamic Capital Mobility in Pacific Basin Developing Countries - Estimation and Policy Implications
Capital flows , Korea, Republic of , Malaysia , Singapore , Thailand , Interest rates , Interest rate differential ,
Pricing to Market and the Real Exchange Rate
Prices , Exchange rates , Markets , Trade ,
Long-Run Determinants of the Real Exchange Rate - A Stock-Flow Perspective
Real effective exchange rates , United States , Japan , Exchange rate policy , Economic models ,
Saving Trends in Southeast Asia: A Cross-Country Analysis
Hamid Faruqee, Aasim M. Husain
Savings , Private savings , Indonesia , Malaysia , Singapore , Thailand ,
What Determines the Current Account? A Cross-Sectional and Panel Approach
Current account , Fiscal policy , Developed countries ,
Hamid Faruqee, Douglas Laxton, Steven A. Symansky
Debt , Income , Liquidity ,
Exchange Rate Volatility, Pricing to Market and Trade Smoothing
Exchange rates , Exchange markets , Export prices , Economic models ,
Life-Cycles, Dynasties, Savings: Implications for Closed and Small, Open Economies
Savings , Public debt ,
Explaining the Exchange Rate Pass-Through in Different Prices
Hamid Faruqee, Dalia Hakura, Ehsan U. Choudhri
This paper examines the performance of different new open economy macroeconomic models in explaining the exchange rate pass-through in a wide range of prices. Quantitative versions of different...
Measuring the Trade Effects of EMU
This paper examines the impact of European Economic and Monetary Union (EMU) on trade within the euro area. Using panel data for 22 industrial countries, the analysis estimates the effect of the...
Methodology for Current Account and Exchange Rate Assessments
Hamid Faruqee, Martin Fetherston, Peter Isard, G. Russell Kincaid
Current account balances , Exchange rates ,
Smooth landing or crash? model based scenarios of global current account rebalancing
Hamid Faruqee, Douglas Laxton, Dirk Muir, Paolo Pesenti
Econometric models ; International trade ; Fiscal policy - United States
Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing
Hamid Faruqee, Douglas Laxton, Dirk Muir, Paolo Pesenti
This paper re-examines the implications, risks, and attendant policies surrounding global rebalancing of current accounts through the lens of a dynamic, multi-region model of the global economy. In...
Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis
Hamid Faruqee, Douglas Laxton, Dirk Muir, Paolo Pesenti
In the evolving debate and analysis of global imbalances, a commonly overlooked issue pertains to rising protectionism. This paper attempts to fill that gap, examining the macroeconomic implications...