- Title Pages
- Title Pages
- Acknowledgments
- Preface
-
Chapter 1 An Introduction to Roberto Frenkel’s Contributions to the Economic Ideas in Latin America -
Chapter 2 Markups Under Uncertainty -
Chapter 3 Financial Fragility, Price Indexes, and Investment Financing -
Chapter 4 Uncertainty in Structural and Institutional Parameters and the Cost of Policy Mistakes -
Chapter 5 Monetary Policy and External Shocks in a Semidollarized Economy -
Chapter 6 The Chilean Economy Since the Global Crisis -
Chapter 7 Disequilibria and Risk Premia -
Chapter 8 Labor Market and Income Distribution in Latin America in Times of Economic Growth -
Chapter 9 Accounting for the Rise and Fall of Brazil’s Growth After World War II -
Chapter 10 Balance-of-Payments Dominance -
Chapter 11 The Real Exchange Rate, the Real Wage, and Growth -
Chapter 12 The Real Exchange Rate and Economic Growth -
Chapter 13 Capitalism and Financial Crises -
Chapter 14 Financial Crises, Institutions, and the Macroeconomy -
Chapter 15 United States Size Distribution and the Macroeconomy 1986–2009 -
Chapter 16 Sovereign Credit Risk in Latin America and Global Common Factors -
Chapter 17 Cognitive Dissonance -
Chapter 18 New Developmentalism as a Weberian Ideal Type - Contributors
- Index
Balance-of-Payments Dominance
Balance-of-Payments Dominance
Implications for Macroeconomic Policy
- Chapter:
- (p.211) Chapter 10 Balance-of-Payments Dominance
- Source:
- Macroeconomics and Development
- Author(s):
José Antonio Ocampo
- Publisher:
- Columbia University Press
this chapter discusses what the author calls the balance of payments dominance on macroeconomic policy, defined as a macroeconomic regime in which short-term dynamics is largely determined by external, mainly financial, shocks. Typically emerging market economies suffer from this dominance and are prone to boom-and-bust cycles led by external financial shocks.
Keywords: balance of payments dominance, trade shocks, financial shocks, pro-cyclical economic policy, macroprudential regulations, managed exchange rate flexibility, emerging market economies
Columbia Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us .
- Title Pages
- Title Pages
- Acknowledgments
- Preface
-
Chapter 1 An Introduction to Roberto Frenkel’s Contributions to the Economic Ideas in Latin America -
Chapter 2 Markups Under Uncertainty -
Chapter 3 Financial Fragility, Price Indexes, and Investment Financing -
Chapter 4 Uncertainty in Structural and Institutional Parameters and the Cost of Policy Mistakes -
Chapter 5 Monetary Policy and External Shocks in a Semidollarized Economy -
Chapter 6 The Chilean Economy Since the Global Crisis -
Chapter 7 Disequilibria and Risk Premia -
Chapter 8 Labor Market and Income Distribution in Latin America in Times of Economic Growth -
Chapter 9 Accounting for the Rise and Fall of Brazil’s Growth After World War II -
Chapter 10 Balance-of-Payments Dominance -
Chapter 11 The Real Exchange Rate, the Real Wage, and Growth -
Chapter 12 The Real Exchange Rate and Economic Growth -
Chapter 13 Capitalism and Financial Crises -
Chapter 14 Financial Crises, Institutions, and the Macroeconomy -
Chapter 15 United States Size Distribution and the Macroeconomy 1986–2009 -
Chapter 16 Sovereign Credit Risk in Latin America and Global Common Factors -
Chapter 17 Cognitive Dissonance -
Chapter 18 New Developmentalism as a Weberian Ideal Type - Contributors
- Index
