WorldCat Identities

Choudhri, Ehsan U.

Overview
Works: 25 works in 98 publications in 1 language and 1,568 library holdings
Genres: History 
Roles: Author, Honoree
Classifications: HB1, 330.9
Publication Timeline
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Most widely held works by Ehsan U Choudhri
Was expansionary monetary policy feasible during the great contraction? : an examination of the gold standard constraint by Michael D Bordo( Book )

11 editions published in 1999 in English and held by 59 WorldCat member libraries worldwide

The recent consensus view, that the gold standard was the leading cause of the worldwide Great Depression 1929-33, stems from two propositions: (1) Under the gold standard, deflationary shocks were transmitted between countries and, (2) for most countries, continued adherence to gold prevented monetary authorities from offsetting banking panics and blocked their recoveries. In this paper we contend that the second proposition applies only to small open economies with limited gold reserves. This was not the case for the US, the largest country in the world, holding massive gold reserves. The US was not constrained from using expansionary policy to offset banking panics, deflation, and declining economic activity. Simulations, based on a model of a large open economy, indicate that expansionary open market operations by the Federal Reserve at two critical junctures (October 1930 to February 1931; September 1931 through January 1932) would have been successful in averting the banking panics that occurred, without endangering convertibility. Indeed had expansionary open market purchases been conducted in 1930, the contraction would not have led to the international crises that followed
Could stable money have averted the Great Contraction? by Michael D Bordo( Book )

12 editions published between 1993 and 1995 in English and held by 49 WorldCat member libraries worldwide

We test the hypothesis that the Great Contraction would have been attenuated had the Fed not allowed the money stock to decline. We do so by simulating a model that estimates separate relations for output and the price level and assumes that output and price dynamics are not especially sensitive to policy changes. The simulations include a strong and a weak form of Friedman's constant money growth rule. The results support the hypothesis that the Great Contraction would have been mitigated and shortened had the Fed followed a constant money growth rule
Money stock targeting, base drift and price-level predictability : lessons from the U.K. experience by Michael D Bordo( Book )

8 editions published between 1989 and 1991 in English and held by 28 WorldCat member libraries worldwide

It is controversial whether money stock targeting without base drift (i.e. following a trend-stationary growth path) makes the price level more predictable in the presence of permanent shocks to money demand. Developing a procedure that does not run into the Lucas critique, and applying this procedure to the case of the U.K., the paper finds that the variance of the trend inflation rate in the U.K. would have been reduced by more than one half if the Bank of England had not allowed base drift
International trade and productivity growth : exploring the sectoral effects for developing countries by Ehsan U Choudhri( Book )

7 editions published in 2000 in English and Undetermined and held by 22 WorldCat member libraries worldwide

The paper estimates an empirical relation based on Krugman's 'technological gap' model to explore the influence of the pattern of international trade and production on the overall productivity growth of a developing country. A key result is that increased import competition in medium-growth (but not in low- or high-growth) manufacturing sectors enhances overall productivity growth. The authors also find that a production-share weighted average of (technological leaders') sectoral productivity growth rates has a significant effect on the rate of aggregate productivity growth
Real exchange rates in developing countries : Are Balassa-Samuelson effects present? by Mohsin S Khan( Book )

8 editions published in 2004 in English and Undetermined and held by 16 WorldCat member libraries worldwide

There is little empirical research on whether Balassa-Samuelson effects can explain the long-run behavior of real exchange rates in developing countries. This paper presents new evidence on this issue based on a panel data sample of 16 developing countries. The paper finds that the traded-nontraded productivity differential is a significant determinant of the relative price of nontraded goods, and the relative price in turn exerts a significant effect on the real exchange rate. The terms of trade also influence the real exchange rate. These results provide strong verification of Balassa-Samuelson effects for developing countries
Trade liberalization, macroeconomic adjustment, and welfare : unifying trade and macro models by Ehsan U Choudhri( Book )

10 editions published in 2006 in English and held by 13 WorldCat member libraries worldwide

"Trade liberalization leads to long-run gains, but it can also involve costly short-run macroeconomic adjustment. The paper explores the relative importance of these effects within a dynamic general equilibrium model that captures key elements of both international trade and macroeconomic models. The welfare effect of trade liberalization is decomposed into a steady-state efficiency gain and a transitional loss associated with wage-price stickiness. Our estimates show that the transitional loss is small relative to the steady-state gain, and tends to be lower under flexible as compared to fixed exchange rates. We also show that the loss can be reduced further by a flexible price-level targeting policy rule."
Money growth variability and money supply interdependence under interest rate control : some evidence for Canada by Michael D Bordo( Book )

7 editions published between 1984 and 1987 in English and held by 13 WorldCat member libraries worldwide

Canada, like many countries, has recently experienced difficulties in achieving money growth stability and money supply independence. Based on the buffer-stock view of money-holding as well as the credit market approach to the money supply, this paper suggests that the problems have arisen from the Bank of Canada suse of an interestrate control mechanism.The paper argues that: (1) The short-run behavior of Canadian money grow this influenced by demand shifts in the Canadian credit market.(2)Movements in U.S. interest rates relative to the controlled Canadian interest rates are a key source of these shifts.The paper presents evidence on Canadian money supply and demand functions consistent with the foregoing explanation
The direction of trade in individual manufactured products : an analysis of the influence of factor proportions, economies of scale and product innovations by Ehsan U Choudhri( Book )

6 editions published in 1974 in English and held by 11 WorldCat member libraries worldwide

Capital controls : rationale and implications : for Canadian trade and investment policy by Ehsan U Choudhri( Book )

1 edition published in 1996 in English and held by 6 WorldCat member libraries worldwide

The Exchange Rate Pass -Through to Import and Export Prices: The Role of Nominal Rigidities and Currency Choice by Ehsan U Choudhri( Book )

9 editions published between 2012 and 2014 in English and Undetermined and held by 6 WorldCat member libraries worldwide

Using both regression- and VAR-based estimates, the paper finds that the exchange rate pass-through to import prices for a large number of countries is incomplete and larger than the pass-through to export prices. Previous studies have reported similar results, which give rise to the puzzle that while local currency pricing is needed to account for incomplete import price pass-through, it would not imply a lower export price pass-through. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation bas
Assymetric technological change in the Melitz model : are foreign technological improvements harmful? by Ehsan U Choudhri( Book )

2 editions published in 2014 in English and held by 4 WorldCat member libraries worldwide

The behavior of money stock under interest rate control : some evidence for Canada( )

2 editions published in 1987 in English and held by 4 WorldCat member libraries worldwide

This paper develops a model of the determination of M1 based on the alternative view of interest rate control. The model is then tested for Canada where the Bank of Canada has used short-term interest rates as its principal instrument in executing monetary policy.--SCAD summary
Productivity performance and international competitiveness : a new test of an old theory by Ehsan U Choudhri( )

1 edition published in 1999 in English and held by 3 WorldCat member libraries worldwide

Optimal taxation in a dynamic model of shirking and unemployment : Shapiro and Stiglitz meet Chamley by Richard A Brecher( Book )

2 editions published in 2007 in English and held by 3 WorldCat member libraries worldwide

Liberalizing multinational investment : the Stolper-Samuelson question revisited by Richard A Brecher( Book )

2 editions published in 1994 in English and held by 3 WorldCat member libraries worldwide

Some empirical support for the Heckscher-Ohlin model of production by Richard A Brecher( Book )

1 edition published in 1992 in English and held by 3 WorldCat member libraries worldwide

The exchange rate and consumer prices in Pakistan : is rupee devaluation inflationary? by Ehsan U Choudhri( )

1 edition published in 2002 in English and held by 1 WorldCat member library worldwide

Liberalizing multinational investment: the Stolper-Samuelson question revisited by Richard A Brecher( )

1 edition published in 1996 in English and held by 1 WorldCat member library worldwide

International migration versus foreign investment in the presence of unemployment( )

1 edition published in 1987 in English and held by 1 WorldCat member library worldwide

The real exchange rate in the long run: Balassa-Samuelson effects reconsidered by Michael D Bordo( )

1 edition published in 2014 in English and held by 0 WorldCat member libraries worldwide

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample period. Although the traditional Balassa-Samuelson model is not consistent with these results, we suggest an explanation of the results in terms of contemporary variants of the model that incorporate the terms of trade mechanism. Specifically we argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We undertake simulations of the modern versions of the Balassa-Samuelson model to show that plausible parameter shifts consistent with the behavior of trade costs can explain the cross-regime variation of the productivity effect
 
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English (90)