WorldCat Identities

Choudhri, Ehsan U.

Works: 36 works in 110 publications in 1 language and 1,063 library holdings
Genres: History 
Roles: Author, Honoree
Classifications: HB1, 332.45
Publication Timeline
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 57 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 51 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 )

7 editions published between 1989 and 1991 in English and held by 27 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
Exchange rate pass-through to domestic prices : does the inflationary environment matter? by Ehsan U Choudhri( Book )

5 editions published in 2001 in English and held by 19 WorldCat member libraries worldwide

The paper tests a hypothesis suggested by Taylor (2000) that a low inflationary environment leads to a low exchange rate pass-through to domestic prices. To test this hypothesis, the paper derives a pass-through relation based on new open economy macroeconomic models. A large database that includes 1979-2000 data for 71 countries is used to estimate this relation. There is strong evidence of a positive and significant association between the pass-through and the average inflation rate across countries and periods. The inflation rate, moreover, dominates other macroeconomic variables in explaining cross-regime differences in the pass-through
International trade and productivity growth : exploring the sectoral effects for developing countries by Ehsan U Choudhri( Book )

6 editions published in 2000 in English and held by 18 WorldCat member libraries worldwide

Developing countries do not in general perform research and development, and rely largely on technological knowledge produced in industrial countries. Their productivity growth thus depends, to a large extent, on the rate at which they can acquire technology developed by industrial countries. A popular view is that international trade represents an important conduit for the transfer of technology and trade liberalization would thus enable developing countries to achieve faster productivity growth. A number of recent studies have found a positive link between international trade and productivity growth in developing countries. 1 Coe, Helpman and Hoffmaister (1997), for example, provide evidence that increased trade with industrial countries boosts productivity growth of developing countries via R D spillovers. 2
Real exchange rates in developing countries : Are Balassa-Samuelson effects present? by Mohsin S Khan( Book )

6 editions published in 2004 in English and held by 15 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
International trade in manufactured products : a Ricardo-Heckscher-Ohlin explanation with monopolistic competition by Ehsan U Choudhri( Book )

5 editions published in 2001 in English and held by 15 WorldCat member libraries worldwide

A large data set on trade in manufactured products is used to evaluate the performance of a model that combines both the Ricardian and Heckscher-Ohlin effects and incorporates monolistic competition. The paper estimates a relation implied by the model to explain relative sectoral exports of major countries to a number of important markets, using 1970-90 data for nine manufacturing sectors. The relation fits the data well and variables suggested by both traditional and new trade models play an important role in explaining realtive exports
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 12 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
Trade liberalization, macroeconomic adjustment, and welfare : unifying trade and macro models by Ehsan U Choudhri( Book )

8 editions published in 2006 in English and held by 10 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."
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( )

4 editions published in 1974 in English and held by 9 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 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
The exchange rate pass-through to import and export prices : the role of nominal rigidities and currency choice by Ehsan U Choudhri( Book )

6 editions published between 2012 and 2014 in English and held by 3 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 passthrough. Recent explanations of this puzzle have emphasized markup adjustment in response to exchange rate changes. This paper suggests an alternative explanation based on the presence of both producer and local currency pricing. Using a dynamic general equilibrium model, the paper shows that a mix of producer and local currency pricing can explain the pass-through evidence even with a constant markup. The model can also explain the observed exchange rate and inflation variability as well as the fact that the regression and VAR estimates tend to be similar."- -Abstract
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

Productivity, the terms of trade, and the real exchange rate : Balassa-Samuelson hypothesis revisited by Ehsan U Choudhri( Book )

2 editions published in 2010 in English and held by 3 WorldCat member libraries worldwide

Currency substitution, flexible exchange rates and monetary independence : a re-examination of the Canadian evidence by Michael D Bordo( Book )

2 editions published in 1979 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

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

Explaining the exchange rate pass-through in different prices by Ehsan U Choudhri( Book )

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

This paper examines the performance of different new open economy macroeconomic models in explaining the exchange rate pass-through in a wide range of prices. Quantitative versions of different models are used to derive the dynamic response of various prices to an exchange rate shock. Predicted responses are compared with the evidence based on VAR models to examine how well different models fit the data. The results show that the best-fitting model incorporates a number of features highlighted by different strands of the literature: sticky prices, sticky wages, distribution costs, and a combination of local and producer currency pricing
The Exchange Rate Pass -Through to Import and Export Prices by Ehsan U Choudhri( )

2 editions published in 2012 in English and held by 0 WorldCat member libraries worldwide

Cover; Contents; I. Introduction; II. Empirical Evidence; III. The Model; A. Basic Setup; B. Key Relations; IV. Quantitative Analysis; A. Key Determinants of the Pass-Through to Trade Prices; B. Currency of Invoicing and the Pass-Through; V. Concluding Remarks; References; Tables; 1. OLS Regressions: Impact of Exchange Rate Changes on Trade Prices, 1979-2010; 2. VAR: First Quarter Trade Price Response to a One Percent Change in the Exchange Rate, 1979-2010; 3. Pass-Through Elasticities for Different Shocks
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Associated Subjects
Canada Capital movements Commerce--Econometric models Commerce--Mathematical models Comparative advantage (International trade)--Econometric models Competition Competition, International Competition--Econometric models Currency question--Mathematical models Demand for money--Mathematical models Depressions--Econometric models Developing countries Economic history Economic policy--Econometric models Economic policy--Mathematical models Economics Exchange rate pass-through Exports--Econometric models Exports--Prices--Econometric models Foreign exchange--Mathematical models Foreign exchange rates--Econometric models Free trade--Econometric models Gold standard Gold standard--Econometric models Great Britain Imports--Econometric models Imports--Prices--Econometric models Industrial productivity Industrial productivity--Econometric models Industries Inflation (Finance) Inflation (Finance)--Econometric models Interest rates--Mathematical models International trade--Econometric models International trade--Mathematical models Investments, Foreign--Government policy Macroeconomics--Mathematical models Manufactures Manufactures--Econometric models Manufacturing industries Manufacturing industries--Econometric models Monetary policy Monetary policy--Econometric models Money--Mathematical models Money supply--Econometric models Money supply--Mathematical models Prices--Mathematical models Pricing--Econometric models Structural adjustment (Economic policy)--Econometric models United States
English (92)