Jacob A Frenkel
Biographic Data
| ID | 1055320 |
|---|---|
| NAME | Jacob A Frenkel |
| GIVEN NAMES | Jacob A |
| FAMILY NAME | Frenkel |
| SIGNATURE | FRENKEL J A |
| AFFILIATIONS | National Bureau of Economic Research |
| VERIFIED | No |
| TOTAL WORKS | 14 |
| TOTAL CITATIONS | 39 |
| AUTHOR COUNT | 14 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1971 |
| LATEST PUBLICATION YEAR | 1991 |
| H-INDEX | 4 |
Credit Markets, Credibility, and Economic Transformation
This paper focuses on the special role that capital markets play in the transformation of centrally planned economies into well-functioning market economies. We demonstrate that underdeveloped credit markets inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. We explore various ways to overcome the difficulties associated with the underdeveloped credit markets. In this regard, we examine the implicat…
International Effects of Tax Reforms
Journal Article International Effects of Tax Reforms Get access Jacob A. Frenkel, Jacob A. Frenkel IMF, University of Chicago and NBER Search for other works by this author on: Oxford Academic Google Scholar Assaf Razin Assaf Razin Tel Aviv University and NBER Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 395, 1 April 1989, Pages 38–58, https://doi.org/10.2307/2234069 Published: 01…
Fiscal Policies in the World Economy
This paper uses a two-country general equilibrium model of the world economy in order to analyze the effects of budget deficits and government spending on world rates of interest, consumption, and international indebtedness. It demonstrates the difference between the effects of fiscal expenditures and tax cuts as well as between the effects of current policies and expected future policies. It is shown that the qualitative effects of fiscal polici…
Government Spending, Debt, and International Economic Interdependence
Journal Article Government Spending, Debt, and International Economic Interdependence Get access Jacob A. Frenkel, Jacob A. Frenkel University of Chicago and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar Assaf Razin Assaf Razin Tel-Aviv University and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Vo…
A Note on Money and Prices in Cassel's PPP Theory
I wish to acknowledge financial support from an NSF grant SOC78-14480. The views expressed are those of the author and not necessarily those of the NBER, Inc.
"Flexible Exchange Rates, Prices, and the Role of "News: Lessons from the 1970s
This paper analyzes the key issues and lessons from the experience with flexible exchange rates during the 1970s. It analyzes the efficiency of the foreign-exchange market and the volatility of exchange rates, as well as the relationships between exchange rates and interest rates. A key distinction is made between anticipated and unanticipated events, and it is shown that the key factor affecting exchange rates has been "news." The analysis then …
Optimal International Reserves: A Stochastic Framework
A Synthesis of Monetary and Keynesian Approaches to Short-Run Balance-of- Payments Theory
Covered Interest Arbitrage and Unexploited Profits? Reply
Transaction Costs and Interest Arbitrage: Tranquil versus Turbulent Periods
This paper deals with the effects of transaction costs on the efficacy of covered interest arbitrage during three periods: 1962-67, the tranquil peg; 1968-69, the turbulent peg; and 1973-75, the managed float. Several conclusions emerge: (i) during the managed float transaction costs have risen dramatically, (ii) these costs played a similar role in accounting for deviations from parity during the periods of the tranquil peg and the managed float…
Covered Interest Arbitrage: Unexploited Profits
Empirical studies of covered interest arbitrage suggest that the parity condition is not always satisfied and thus implying unexploited profit opportunities. This paper provides a procedure for estimating transaction costs in the markets for foreign exchange and for securities. Allowance for these costs accounts for most of the apparent profit opportunities. It is shown that in addition to transaction costs, demand and supply elasticities in the …
The Demand for International Reserves by Developed and Less-Developed Countries
Elasticities and the Interest Parity Theory
On Domestic Demand and Ability to Export
"Flexible Exchange Rates, Prices, and the Role of "News: Lessons from the 1970s
This paper analyzes the key issues and lessons from the experience with flexible exchange rates during the 1970s. It analyzes the efficiency of the foreign-exchange market and the volatility of exchange rates, as well as the relationships between exchange rates and interest rates. A key distinction is made between anticipated and unanticipated events, and it is shown that the key factor affecting exchange rates has been "news." The analysis then …
Transaction Costs and Interest Arbitrage: Tranquil versus Turbulent Periods
This paper deals with the effects of transaction costs on the efficacy of covered interest arbitrage during three periods: 1962-67, the tranquil peg; 1968-69, the turbulent peg; and 1973-75, the managed float. Several conclusions emerge: (i) during the managed float transaction costs have risen dramatically, (ii) these costs played a similar role in accounting for deviations from parity during the periods of the tranquil peg and the managed float…
Covered Interest Arbitrage: Unexploited Profits
Empirical studies of covered interest arbitrage suggest that the parity condition is not always satisfied and thus implying unexploited profit opportunities. This paper provides a procedure for estimating transaction costs in the markets for foreign exchange and for securities. Allowance for these costs accounts for most of the apparent profit opportunities. It is shown that in addition to transaction costs, demand and supply elasticities in the …
Government Spending, Debt, and International Economic Interdependence
Journal Article Government Spending, Debt, and International Economic Interdependence Get access Jacob A. Frenkel, Jacob A. Frenkel University of Chicago and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar Assaf Razin Assaf Razin Tel-Aviv University and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Vo…
Optimal International Reserves: A Stochastic Framework
A Synthesis of Monetary and Keynesian Approaches to Short-Run Balance-of- Payments Theory
Credit Markets, Credibility, and Economic Transformation
This paper focuses on the special role that capital markets play in the transformation of centrally planned economies into well-functioning market economies. We demonstrate that underdeveloped credit markets inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. We explore various ways to overcome the difficulties associated with the underdeveloped credit markets. In this regard, we examine the implicat…
On Domestic Demand and Ability to Export
Fiscal Policies in the World Economy
This paper uses a two-country general equilibrium model of the world economy in order to analyze the effects of budget deficits and government spending on world rates of interest, consumption, and international indebtedness. It demonstrates the difference between the effects of fiscal expenditures and tax cuts as well as between the effects of current policies and expected future policies. It is shown that the qualitative effects of fiscal polici…
On Domestic Demand and Ability to Export
Elasticities and the Interest Parity Theory
The Demand for International Reserves by Developed and Less-Developed Countries
Covered Interest Arbitrage: Unexploited Profits
Empirical studies of covered interest arbitrage suggest that the parity condition is not always satisfied and thus implying unexploited profit opportunities. This paper provides a procedure for estimating transaction costs in the markets for foreign exchange and for securities. Allowance for these costs accounts for most of the apparent profit opportunities. It is shown that in addition to transaction costs, demand and supply elasticities in the …
Transaction Costs and Interest Arbitrage: Tranquil versus Turbulent Periods
This paper deals with the effects of transaction costs on the efficacy of covered interest arbitrage during three periods: 1962-67, the tranquil peg; 1968-69, the turbulent peg; and 1973-75, the managed float. Several conclusions emerge: (i) during the managed float transaction costs have risen dramatically, (ii) these costs played a similar role in accounting for deviations from parity during the periods of the tranquil peg and the managed float…
Covered Interest Arbitrage and Unexploited Profits? Reply
A Synthesis of Monetary and Keynesian Approaches to Short-Run Balance-of- Payments Theory
"Flexible Exchange Rates, Prices, and the Role of "News: Lessons from the 1970s
This paper analyzes the key issues and lessons from the experience with flexible exchange rates during the 1970s. It analyzes the efficiency of the foreign-exchange market and the volatility of exchange rates, as well as the relationships between exchange rates and interest rates. A key distinction is made between anticipated and unanticipated events, and it is shown that the key factor affecting exchange rates has been "news." The analysis then …
Optimal International Reserves: A Stochastic Framework
A Note on Money and Prices in Cassel's PPP Theory
I wish to acknowledge financial support from an NSF grant SOC78-14480. The views expressed are those of the author and not necessarily those of the NBER, Inc.
Government Spending, Debt, and International Economic Interdependence
Journal Article Government Spending, Debt, and International Economic Interdependence Get access Jacob A. Frenkel, Jacob A. Frenkel University of Chicago and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar Assaf Razin Assaf Razin Tel-Aviv University and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Vo…
Fiscal Policies in the World Economy
This paper uses a two-country general equilibrium model of the world economy in order to analyze the effects of budget deficits and government spending on world rates of interest, consumption, and international indebtedness. It demonstrates the difference between the effects of fiscal expenditures and tax cuts as well as between the effects of current policies and expected future policies. It is shown that the qualitative effects of fiscal polici…
International Effects of Tax Reforms
Journal Article International Effects of Tax Reforms Get access Jacob A. Frenkel, Jacob A. Frenkel IMF, University of Chicago and NBER Search for other works by this author on: Oxford Academic Google Scholar Assaf Razin Assaf Razin Tel Aviv University and NBER Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 395, 1 April 1989, Pages 38–58, https://doi.org/10.2307/2234069 Published: 01…
Credit Markets, Credibility, and Economic Transformation
This paper focuses on the special role that capital markets play in the transformation of centrally planned economies into well-functioning market economies. We demonstrate that underdeveloped credit markets inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. We explore various ways to overcome the difficulties associated with the underdeveloped credit markets. In this regard, we examine the implicat…
Economics (14 works) · Global Financial Crisis and Policies (9 works) · Monetary economics (9 works) · Finance (5 works) · Financial economics (5 works) · Interest rate parity (5 works) · Monetary Policy and Economic Impact (5 works) · Arbitrage (4 works) · Finance (4 works) · Macroeconomics (4 works)