Patrick Osakwe - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T15:26:19+00:00Currency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets
https://www.bankofcanada.ca/2002/02/working-paper-2002-6/
Traditional models of exchange rate regimes ignore the destabilizing effects of sharp and unanticipated exchange rate movements.2002-02-01T17:45:07+00:00enCurrency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets2002-02-01Exchange rate regimesWorking Paper 2002-6 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-6.pdfCurrency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging MarketsPatrick OsakweFebruary 2002EE5E52FF3F31F4F41Real Effects of Collapsing Exchange Rate Regimes: An Application to Mexico
https://www.bankofcanada.ca/1999/04/working-paper-1999-10/
This paper examines the impact of a collapsing exchange rate regime on output in an open economy in which shocks to capital flows and exports predominate. A sticky-price rational expectations model is used to compare the variability of output under the collapsing regime to that under alternative fixed and flexible regimes. Output is found to […]1999-04-13T15:14:55+00:00enReal Effects of Collapsing Exchange Rate Regimes: An Application to Mexico1999-04-13Exchange ratesWorking Paper 1999-10 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp99-10.pdfReal Effects of Collapsing Exchange Rate Regimes: An Application to MexicoPatrick OsakweLawrence L. SchembriApril 1999FF3F31F4F41Currency crises and fixed exchange rates in the 1990s: A review
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r984b.pdf
Currency crises in the 1990s, especially those in emerging markets, have sharply disrupted economic activity, affecting not only the country experiencing the crisis, but also those with trade, investment, and geographic links. The authors review the theoretical literature and empirical evidence regarding these crises. They conclude that their primary cause is a fixed nominal exchange rate combined with macroeconomic imbalances, such as current account or fiscal deficits, that the market perceives as unsustainable at the prevailing real exchange rate. They also conclude that currency crises can be prevented through the adoption of sound monetary and fiscal policies, effective regulation and supervision of the financial sector, and a more flexible nominal exchange rate.1998-11-13T14:32:10+00:00enCurrency crises and fixed exchange rates in the 1990s: A review1998-11-13Evaluating Alternative Measures of the Real Effective Exchange Rate
https://www.bankofcanada.ca/1998/11/working-paper-1998-20/
This paper discusses the merits and shortcomings of alternative price indices used in constructing real effective exchange rate indices and examines the effects of different weighting schemes. It also compares selected measures of the real effective exchange rate in terms of their ability to explain movements in Canadian net exports and real output. The paper […]1998-11-06T09:00:22+00:00enEvaluating Alternative Measures of the Real Effective Exchange Rate1998-11-06Working Paper 1998-20 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-20.pdfEvaluating Alternative Measures of the Real Effective Exchange RateRobert LafrancePatrick OsakwePierre St-AmantNovember 1998Fundamentals, Contagion and Currency Crises: An Empirical Analysis
https://www.bankofcanada.ca/1998/07/working-paper-1998-10/
This paper examines the determinants of currency crises in Latin America, Asia and Africa. It asks two basic questions: (a) Are currency crises linked to economic fundamentals? and; (b) Is there any evidence of a contagion effect after controlling for the potential effects of economic fundamentals? Using pooled annual data for 19 developing countries spanning […]1998-07-05T09:42:40+00:00enFundamentals, Contagion and Currency Crises: An Empirical Analysis1998-07-05Exchange ratesWorking Paper 1998-10 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-10.pdfFundamentals, Contagion and Currency Crises: An Empirical AnalysisMark KrugerPatrick OsakweJennifer PageJuly 1998FF3International Borrowing, Specialization and Unemployment in a Small, Open Economy
https://www.bankofcanada.ca/1998/02/working-paper-1998-2/
Empirical evidence suggests that the unemployment rate and the export/GNP ratio are positively correlated with external debt across developing countries. This paper develops a dynamic model that provides an explanation for the aforementioned relationships. The central idea of our paper is that international borrowing affects unemployment and specialization patterns by unevenly changing the risk-sharing structure—across […]1998-02-05T08:13:31+00:00enInternational Borrowing, Specialization and Unemployment in a Small, Open Economy1998-02-05International topicsWorking Paper 1998-2 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-2.pdfInternational Borrowing, Specialization and Unemployment in a Small, Open EconomyPatrick OsakweShouyong ShiFebruary 1998FF3JJ6Food Aid Delivery, Food Security and Aggregate Welfare in a Small Open Economy: Theory and Evidence
https://www.bankofcanada.ca/1998/01/working-paper-1998-1/
A small-open-economy model is developed to examine how the method of food aid disbursement affects labor employment, food security and aggregate welfare, in recipient countries, in an environment in which private sector firms pay efficiency wages to induce effort. Two forms of food aid delivery are considered: first is project food aid, under which food […]1998-01-04T15:13:08+00:00enFood Aid Delivery, Food Security and Aggregate Welfare in a Small Open Economy: Theory and Evidence1998-01-04Development economicsWorking Paper 1998-1 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-1.pdfFood Aid Delivery, Food Security and Aggregate Welfare in a Small Open Economy: Theory and EvidencePatrick OsakweJanuary 1998JJ4OO1QQ1