38 resultados para Economies of scope in banking

em Comissão Econômica para a América Latina e o Caribe (CEPAL)


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Information Paper, No 23

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Includes bibliography

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Presented by The Research and Evaluation Division Centre for Industrial Developmant

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Incluye Bibliografía.

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This paper develops a structural general equilibrium model to analyse the reactions of the nominal exchange rate and the domestic price level to three types of external shock in emerging economies that have limited access to world capital markets. Although the results depend crucially on the type of external shock, each of the two national balance-sheet parameters considered here —the risk premium and the ratio of external indebtedness— exacerbates the reactions of the two endogenous variables without altering the degree of exchange-rate pass-through (erpt). Moreover, flatter Phillips curves, as observed today in many economies, tend to increase erpt. On the basis of these results, the authorities of emerging economies seeking to stabilize markets and limit erpt are advised to minimize the two risk parameters by applying a flexible inflation-targeting regime.

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Includes bibliography

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Includes bibliography