ORIGINAL SIN, CURRENCY DEPRECIATION AND EXTERNAL DEBT BURDEN: EVIDENCE FROM INDIA

Tight credit policy versus currency depreciation: Simulations from a trade and inflation model of India

Using a small macroeconometric model that examines the determinants of India’s trade and inflation, this paper addresses the effects of a reform policy package similar to those implemented in 1991. Policy simulations using dynamic simulation method compare the responses to devaluation with the responses to tight credit policy. It is shown that the trade balance effects of tight credit policy ar...

Creation, Sin, and Debt

T here is no denying that the recent papal encyclical, Laudato si’, represents a sea change in official Catholic social teaching.1 For one thing, it is addressed not simply to the bishops nor even to each member of the Catholic Church but to “every person living on this planet” (§3); for another, it speaks from the perspective of the global South and names the debts owed by the North to the Sou...

Original sin and education.

Currency ::union:: and Bilateral Trade: Evidence from OIC Countries

In recent years, there has been an increasing interest in currency :union:s internationally. The formation of currency :union: in Organization of Islamic Cooperation (OIC) has drawn much attention of Islamic countries. This paper aims to investigate the effect of currency :union: formation for trade among 49 Islamic countries over the period 1990-2012 by OCA and Augmented Gravity Model (AGM). T...

Deficits, Debt Financing, Monetary Policy and Inflation in Developing Countries: Internal or External Factors? Evidence from Iran

This paper focuses on internal and external factors, which influence the inflation rate in developing countries. A monetary model of inflation rate, capable of incorporating both monetary and fiscal policies as well as other internal and external factors, was developed and tested on Iranian data. It was found that, over the long run, a higher exchange rate leads to a higher price and that the f...