Browsing by Author "Frankel, Jeffrey"
Now showing items 1-20 of 52
-
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 ... -
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 (Center for International Development at Harvard University, 2009-09)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 ... -
The Best of Rules and Discretion: A Case for Nominal GDP Targeting in India
Bhandari, Pranjul; Frankel, Jeffrey (Center for International Development at Harvard University, 2014-07)The recent revival of interest in nominal GDP (NGDP) targeting has come in the context of large advanced economies. We argue that the case for NGDP targeting is even more appealing for mid-sized developing countries, because ... -
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, ... -
A Comparison of Product Price Targeting and Other Monetary Anchor Options, for Commodity Exporters in Latin America
Frankel, Jeffrey (Center for International Development at Harvard University, 2011-11)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, ... -
Contractionary Currency Crashes In Developing Countries
Frankel, Jeffrey (Center for International Development at Harvard University, 2005-02)To update a famous old statistic: a political leader in a developing country is twice as likely to lose office in the 6 months following a currency crash as otherwise. This difference, which is highly significant statistically, ... -
The Currency-Plus-Commodity Basket: a Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically
Frankel, Jeffrey A. (2017)The paper proposes an exchange rate regime for oil-exporting countries. The goal is to achieve the best of both flexible and fixed exchange rates. The arrangement is designed to deliver monetary policy that counteracts ... -
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 ... -
Dollar Rivals
Frankel, Jeffrey (Harvard Kennedy School, 2023-06)Written for a PIIE conference on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar dollar-based system. It considers (1) measures of international currency use; (2) ... -
The Dollar versus the Euro as International Reserve Currencies
Menzie, Chinn; Frankel, Jeffrey; Ito, Hiro (Harvard Kennedy School, 2024-03)We begin by examining determinants of aggregate foreign exchange reserve holdings by central banks (size of issuing country’s economy and financial markets, ability of the currency to hold value, and inertia). But ... -
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. ... -
Estimation of De Facto Exchange Rate Regimes: Synthesis of the Techniques for Inferring Flexibility and Basket Weights
Frankel, Jeffrey; Wei, Shang-Jin (Center for International Development at Harvard University, 2008-03)The paper offers a new approach to estimate countries' de facto exchange rate regimes, a synthesis of two techniques. One is a technique that the authors have used in the past to estimate implicit de facto weights when the ... -
Estimation of Nonlinear Exchange Rate Dynamics in Evolving Regimes
Frankel, Jeffrey; Hou, Yao; Xie, Danxia (Center for International Development at Harvard University, 2023-03)This paper develops a new econometric framework to estimate and classify exchange rate regimes. They are classified into four distinct categories: fixed exchange rates, BBC (band, basket and crawl), managed floating, and ... -
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 ... -
Growth and Competitiveness in Kazakhstan: Issues and Priorities in the Areas of Macroeconomic, Industrial, Trade and Institutional Development Policies
Hausmann, Ricardo; Deep, Akash; Di Tella, Rafael; Frankel, Jeffrey; Lawrence, Robert; Rodrik, Dani; Velasco, Andrés (Center for International Development at Harvard University, 2011)