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A Technical Note on the Open Economy IS/LM Model
Warnock, Francis E.Technical Note DARDEN-BP-0528-ECorporate GovernanceThis technical note introduces the basic structure of what we call the Three-Paned Model. The model is essentially just an “opening up” of the closed-economy IS/LM Model, with the main pane being the IS/LM Model (modified only slightly to allow for international trade) and two additional panes that determine the amount of capital inflows, net exports, and the exchange rate. This note is not a substitute for the more in-depth presentation of these...Starting at €8.20
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A User's Guide to the BOP and IIP: The Transition from BPM5 to BPM6
Warnock, Francis E.Technical Note DARDEN-GEM-0135-EEconomicsBalance of payments (BOP) accounting conventions, never straightforward, have been complicated recently by the introduction of new standards. This note presents a short description of BOP and international investment position (IIP) data. It refers to data for the United States, Brazil, and South Africa, but given that there are worldwide standards for countries that report BOP and IIP, it should provide guidance for understanding the data of just...Starting at €8.20
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Fix or Float
Warnock, Francis E.Technical Note DARDEN-F-1746-EFinanceA fundamental policy decision every government must make is whether, and to what extent, to manage the exchange rate. This note discusses some of the basic costs and benefits of fixed and floating exchange rates.Starting at €8.20
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A User’s Guide to BPM5-Based BOP and IIP Accounts
Warnock, Francis E.Technical Note DARDEN-BP-0523-ECorporate GovernanceThis note presents a short description of BPM5-based balance of payments (BOP) and international investment position (IIP) presentations. It refers to data for South Africa, but given that there are worldwide standards for countries that report both BOP and IIP, it should provide guidance for understanding the data of just about any country.Starting at €8.20
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A User’s Guide to BPM6-Based BOP and IIP Accounts
Warnock, Francis E.Technical Note DARDEN-GEM-0154-EEconomicsThis note presents a short description of BPM6-based balance of payments (BOP) and international investment position (IIP) data. It works through examples using data for the United States and Mexico while providing guidance for understanding the data of just about any country.Starting at €8.20
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A User’s Guide to International Capital Flows
Warnock, Francis E.Technical Note DARDEN-GEM-0171-EEconomicsThis note provides a description of international flows and positions data, a way to identify extreme capital flow episodes (such as surges and stops), and a straightforward technique to predict whether a country should receive more or fewer portfolio inflows in the coming year based on a notion of benchmark inflows.Starting at €8.20
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The Information Content of the Yield Curve
Warnock, Francis E.Technical Note DARDEN-GEM-0106Fully updated through early 2016, in this case, the protagonist was sifting through the evidence on the predictive content of the yield curve. Did the current steepness of the yield curve mean that a double-dip recession was highly unlikely? Or was the faStarting at €8.20
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Inflation Targeting
Warnock, Francis E.; Drake, JustinTechnical Note DARDEN-BP-0495-ECorporate GovernanceSince 1990, 21 countries have shifted to a monetary policy of inflation targeting. This technical note defines inflation targeting; discusses how it came about; and analyzes implementation issues and the pros and cons of inflation targeting.Starting at €8.20
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Open-Economy National Income Accounting and the IS/LM Model
Murphy, Daniel; Warnock, Francis E.Technical Note DARDEN-GEM-0128-EEconomicsWhen we introduce macroeconomic models, we assume that goods and services are exchanged within a single country but not across countries. This assumption is useful for understanding some of the primary determinants of output, inflation, and interest rates. In reality, however, economies trade with each other, and the presence of international markets has implications for national economies. In this note, we incorporate international markets to un...Starting at €8.20
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Doing Business: A Managerial Perspective
Warnock, Francis E.; Begley, J. AsherTechnical Note DARDEN-GEM-0176-EEconomicsA government’s impact on the economy is not limited to taxes, spending, and monetary policy. As any manager can attest, regulations dramatically impact the way managers think about production. An effective regulatory environment will allow both new and exStarting at €8.20