Now showing items 1-20 of 29

    • Are Bilateral Remittances Countercyclical? 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2010)
      By putting together a relatively large data set on bilateral remittances of emigrants, this paper is able to shed light on the important hypothesis of smoothing. The smoothing hypothesis is that remittances are countercyclical ...
    • Are Bilateral Remittances Countercyclical? 

      Frankel, Jeffrey A. (Springer, 2011)
      By putting together a relatively large data set on bilateral remittances of emigrants, this paper is able to shed light on the important hypothesis of smoothing. The smoothing hypothesis is that remittances are countercyclical ...
    • Can Leading Indicators Assess Country Vulnerability? Evidence from the 2008-09 Global Financial Crisis 

      Frankel, Jeffrey A.; Saravelos, George (Elsevier, 2012)
      This paper investigates whether leading indicators can help explain the cross-country incidence of the 2008-09 financial crisis. Rather than looking for indicators with specific relevance to the current crisis, the selection ...
    • Can Leading Indicators Assess Country Vulnerability? Evidence from the 2008-09 Global Financial Crisis 

      Frankel, Jeffrey A.; Saravelo, George (John F. Kennedy School of Government, Harvard University, 2011)
      This paper investigates whether leading indicators can help explain the cross-country incidence of the 2008-09 financial crisis. Rather than looking for indicators with specific relevance to the current crisis, the selection ...
    • A Comparison of Product Price Targeting and Other Monetary Anchor Options, for Commodity Exporters in Latin America 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2011)
      Seven possible nominal variables are considered as candidates to be the anchor or target for monetary policy. The context is countries in Latin America and the Caribbean (LAC), which tend to be price takers on world markets, ...
    • Determinants of Agricultural and Mineral Commodity Prices 

      Frankel, Jeffrey A.; Rose, Andrew K. (John F. Kennedy School of Government, Harvard University, 2010)
      Prices of most agricultural and mineral commodities rose strongly in the past decade, peaking sharply in 2008. Popular explanations included strong global growth (especially from China and India), easy monetary policy (as ...
    • Effects of Speculation and Interest Rates in a “Carry Trade” Model of Commodity Prices 

      Frankel, Jeffrey A. (2013)
      The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off ...
    • Environmental Effects of International Trade 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2009)
      The report surveys the state of our knowledge regarding the effects of trade on the environment. A central question is whether globalization helps or hurts in achieving the best tradeoff between environmental and economic ...
    • Essays in International Finance and Macroeconomics 

      Schreger, Jesse (2015-04-28)
      The way in which governments borrow has changed dramatically over the last decade. The first two chapters of this dissertation study the implications of the rise of local currency sovereign borrowing in emerging markets. ...
    • The Forward Market in Emerging Currencies: Less Biased than in Major Currencies 

      Frankel, Jeffrey A.; Poonawala, Jumana (John F. Kennedy School of Government, Harvard University, 2009)
      Many studies have replicated the finding that the forward rate is a biased predictor of the future change in the spot exchange rate. Usually the forward discount actually points in the wrong direction. But, at least until ...
    • How Can Commodity Exporters Make Fiscal and Monetary Policy Less Procyclical? 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2011)
      Fiscal and monetary policy each has a role to play in mitigating the volatility that stems from the large trade shocks hitting commodity-exporting countries. All too often macroeconomic policy is procyclical, that is, ...
    • Internationalization of the RMB and Historical Precedents 

      Frankel, Jeffrey A. (Sejong University, 2012)
      The possibility that the renminbi may soon join the ranks of international currencies has generated much excitement. This paper looks to history for help in evaluating the factors determining its prospects. The three ...
    • A Lesson From the South for Fiscal Policy in the US and Other Advanced Countries 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2011)
      American fiscal policy has been procyclical: Washington wasted the expansion period 2001-2007 by running budget deficits, but by 2011 had come to feel constrained by inherited debt to withdraw fiscal stimulus. Chile has ...
    • A Lesson from the South for Fiscal Policy in the US and Other Advanced Countries 

      Frankel, Jeffrey A. (Palgrave Macmillan, 2011)
      Two decades ago, many people had drawn a lesson from the 1980s: Japan's variant of capitalism was the best model. Other countries around the world should and would follow it. Japan's admired institutions included relationship ...
    • Mauritius: African Success Story 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University., 2010)
      What explains the economic success of Mauritius, a top performer among African countries? How did it develop a manufacturing sector and how has it managed to respond well to new external shocks? This paper draws on the ...
    • Monetary Policy in Emerging Markets: A Survey 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2011)
      The characteristics that distinguish most developing countries, compared to large industrialized countries, include: greater exposure to supply shocks in general and trade volatility in particular, procyclicality of both ...
    • The Natural Resource Curse: A Survey 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2010)
      It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse. The principle is not confined ...
    • The Natural Resource Curse: A Survey of Diagnoses and Some Prescriptions 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2012)
      Countries with oil, mineral or other natural resource wealth, on average, have failed to show better economic performance than those without, often because of undesirable side effects. This is the phenomenon known as the ...
    • On Global Currencies 

      Frankel, Jeffrey A. (John F. Kennedy School of Government, Harvard University, 2009)
      I approach the state of global currency issues by identifying eight concepts that I see as having recently “peaked” and eight more that I see as currently rising in relevance. Those that I see as having already seen their ...
    • On Graduation from Fiscal Procyclicality 

      Frankel, Jeffrey A.; Vegh, Carlos A; Vulentin, Guillermo (John F. Kennedy School of Government, Harvard University, 2012)
      In the past, industrial countries have tended to pursue countercyclical or, at worst, acyclical fiscal policy. In sharp contrast, emerging and developing countries have followed procyclical fiscal policy, thus exacerbating ...