The Debt-Overhang Hypothesis and the Effects on Low/High Income
... From the past decades we can conclude that debt crises are something that happens regularly in the modern economy. The American savings and loans crisis of the 1980s happened at the same time as the LDCs started to default on their sovereign debt. Around the turn of the millennia Argentina plunged i ...
... From the past decades we can conclude that debt crises are something that happens regularly in the modern economy. The American savings and loans crisis of the 1980s happened at the same time as the LDCs started to default on their sovereign debt. Around the turn of the millennia Argentina plunged i ...
THE CANADIAN DOLLAR: WHY DO SUCH BAD THINGS HAPPEN
... I therefore conclude that attributing changes in the value of the Canadian dollar to commodity prices requires a judicious selection of commodity index and a judicious selection of time period. I am very uneasy with an explanation of the determinants of the exchange rate which relies heavily on the ...
... I therefore conclude that attributing changes in the value of the Canadian dollar to commodity prices requires a judicious selection of commodity index and a judicious selection of time period. I am very uneasy with an explanation of the determinants of the exchange rate which relies heavily on the ...
Vo l u m e 6 5 ... C o n t e n t s
... and persistent differences between the assumptions we used for the path of the exchange rate and its actual evolution. We also conclude that contributions to forecast inaccuracies have at times been made by our understanding of the noninflationary output growth rate, the equilibrium exchange rate an ...
... and persistent differences between the assumptions we used for the path of the exchange rate and its actual evolution. We also conclude that contributions to forecast inaccuracies have at times been made by our understanding of the noninflationary output growth rate, the equilibrium exchange rate an ...
Emerging Local Currency Bond Markets
... The development of EME local currency bond markets is impressive. But EMEs are not equal in their ability to develop their bond markets. Why do some EMEs have larger local currency bond markets than others? Were “original sin” to hold, the answer would be just that some countries are naturally large ...
... The development of EME local currency bond markets is impressive. But EMEs are not equal in their ability to develop their bond markets. Why do some EMEs have larger local currency bond markets than others? Were “original sin” to hold, the answer would be just that some countries are naturally large ...
CENTRAL BANK OF THE REPUBLIC OF TURKEY Durmu YILMAZ
... Problems in credit markets linger to some extent and unemployment rates remain at high levels, which in turn increase future uncertainties. ...
... Problems in credit markets linger to some extent and unemployment rates remain at high levels, which in turn increase future uncertainties. ...
Exchange Rates - Carleton University
... another 1 . Any trade between two countries involves the exchange of currency; this enables one country to purchase goods from another country. Due to the necessity of exchanging currency, a foreign exchange market exists. It must be noted that foreign exchange can be quoted in two different ways, t ...
... another 1 . Any trade between two countries involves the exchange of currency; this enables one country to purchase goods from another country. Due to the necessity of exchanging currency, a foreign exchange market exists. It must be noted that foreign exchange can be quoted in two different ways, t ...
Domestic Government Debt Structure, Risk Characteristics
... Nigeria has not been alone in experiencing escalating levels of government domestic indebtedness, but in comparison to other countries in Sub-Saharan Africa, Nigeria’s domestic debt to GDP ratio is clearly on the high side. For the non-HIPC in sub-Saharan Africa, the domestic debt/GDP ratio averaged ...
... Nigeria has not been alone in experiencing escalating levels of government domestic indebtedness, but in comparison to other countries in Sub-Saharan Africa, Nigeria’s domestic debt to GDP ratio is clearly on the high side. For the non-HIPC in sub-Saharan Africa, the domestic debt/GDP ratio averaged ...
Free Full text
... rates, and a recovery in external demand on the back of a pickup in global growth and trade. Inflation is expected to rise from 3.2 percent at end-2016 to around 4.5 percent at end-2017 largely due to lower electricity subsidies and some recovery in commodity prices. The current account deficit woul ...
... rates, and a recovery in external demand on the back of a pickup in global growth and trade. Inflation is expected to rise from 3.2 percent at end-2016 to around 4.5 percent at end-2017 largely due to lower electricity subsidies and some recovery in commodity prices. The current account deficit woul ...
The Malaysian Economy in 2001
... global electronics downturn was felt as early as March 2001. These were manifested in declining manufacturing production and negative export growth. Concerted efforts since the crisis to promote domestic sources of growth and reduce the overdependence on exports resulted in real Gross Domestic Produ ...
... global electronics downturn was felt as early as March 2001. These were manifested in declining manufacturing production and negative export growth. Concerted efforts since the crisis to promote domestic sources of growth and reduce the overdependence on exports resulted in real Gross Domestic Produ ...
BANK OF YOKOHAMA Annual Report 2002
... In April 2001, the Bank launched Innovation 21 Stage 3, a two-year phase of Innovation 21 medium-term management plan. Stage 3 calls for the Bank to further implement the regional retail strategies pursued over four years in the first two stages and to involve activities closely tied to the region w ...
... In April 2001, the Bank launched Innovation 21 Stage 3, a two-year phase of Innovation 21 medium-term management plan. Stage 3 calls for the Bank to further implement the regional retail strategies pursued over four years in the first two stages and to involve activities closely tied to the region w ...
Holding Excess Foreign Reserves Versus Infrastructure Finance
... The ratio of reserves to short-term foreign debt balance (Greenspan-Guidotti, 1999): it measures a country’s capability of refunding debt quickly. The international benchmark is 1, which means 100%. It usually should not fall below 100%, which can guarantee that all the short-term foreign debt can ...
... The ratio of reserves to short-term foreign debt balance (Greenspan-Guidotti, 1999): it measures a country’s capability of refunding debt quickly. The international benchmark is 1, which means 100%. It usually should not fall below 100%, which can guarantee that all the short-term foreign debt can ...
Convergence of Government Bond Yields in the
... Germany (the euro zone’s largest economy). In general, the convergence of national yields to a stable level with reduced risk aids the overall economy, by allowing cheaper access to debt financing with less uncertainty regarding the value of such funds over time. This, in turn, stimulates investment ...
... Germany (the euro zone’s largest economy). In general, the convergence of national yields to a stable level with reduced risk aids the overall economy, by allowing cheaper access to debt financing with less uncertainty regarding the value of such funds over time. This, in turn, stimulates investment ...
MONTHLY ECONOMIC REVIEW BANK OF TANZANIA March 2017
... Growth of extended broad money (M3) has been ...
... Growth of extended broad money (M3) has been ...
OPTIMUM LEVEL OF INTERNATIONAL RESERVES FOR
... characterized by sudden stop and reversal in response to market sentiments. Due to macroeconomic risk associated with volatile capital flows, a country may be charged high interest rate on its borrowings from international market. Hence fii is expected to have a positive relationship with spread. It ...
... characterized by sudden stop and reversal in response to market sentiments. Due to macroeconomic risk associated with volatile capital flows, a country may be charged high interest rate on its borrowings from international market. Hence fii is expected to have a positive relationship with spread. It ...
Western Hemisphere Regional Economic Outlook
... Against this backdrop, economic activity in Latin America and the Caribbean has been hard hit and is likely to contract for the second consecutive year in 2016. The regional recession, however, masks the fact that most countries continue to grow, modestly but surely. Differences in growth outcomes a ...
... Against this backdrop, economic activity in Latin America and the Caribbean has been hard hit and is likely to contract for the second consecutive year in 2016. The regional recession, however, masks the fact that most countries continue to grow, modestly but surely. Differences in growth outcomes a ...
Impacts of IMF Policies on National Education Budgets and Teachers
... occurring anymore among education advocates or others in the foreign aid industry generally, as the recent couple of decades of “poverty reduction” discourse have replaced earlier notions of more conventional development economics. This has amounted to a profound shift in popular conceptions of “ ...
... occurring anymore among education advocates or others in the foreign aid industry generally, as the recent couple of decades of “poverty reduction” discourse have replaced earlier notions of more conventional development economics. This has amounted to a profound shift in popular conceptions of “ ...
PORTUGAL - Observador
... concerns. It should also help to raise inflation over the forecast horizon. A sharply weaker euro and lower oil prices have improved the short-term outlook. In the medium term, growth is projected to moderate, as several remaining challenges, notably low investment, high leverage, and structural bot ...
... concerns. It should also help to raise inflation over the forecast horizon. A sharply weaker euro and lower oil prices have improved the short-term outlook. In the medium term, growth is projected to moderate, as several remaining challenges, notably low investment, high leverage, and structural bot ...
Discussion Paper
... debt indexation. Commodity-linked bonds are defined as ‘a bond whose redemption value is linked to the price of a commodity. Typically, issuers whose income stream is closely tied to commodity earnings issue these bonds.’ (IMF, 2014a: 188). Unlike conventional bonds, which pay a stated fixed coupon ...
... debt indexation. Commodity-linked bonds are defined as ‘a bond whose redemption value is linked to the price of a commodity. Typically, issuers whose income stream is closely tied to commodity earnings issue these bonds.’ (IMF, 2014a: 188). Unlike conventional bonds, which pay a stated fixed coupon ...
Monetary Policy with Interest on Reserves
... individually successful but cannot collectively do anything but raise the short-term treasury rate. So the Federal funds and Treasury rates rise. But, required reserves were about $50 billion before the financial crisis. They are now about $80 billion, reflecting the growth of inside money at zero r ...
... individually successful but cannot collectively do anything but raise the short-term treasury rate. So the Federal funds and Treasury rates rise. But, required reserves were about $50 billion before the financial crisis. They are now about $80 billion, reflecting the growth of inside money at zero r ...
How the Fight Against HIV/AIDS
... spending too much money in their national economies, whether this comes from increased government spending and higher deficit spending or from increased foreign aid. Because inflation rates are correlated with how much money is put into the domestic economy, the IMF has sought to use its leverage ov ...
... spending too much money in their national economies, whether this comes from increased government spending and higher deficit spending or from increased foreign aid. Because inflation rates are correlated with how much money is put into the domestic economy, the IMF has sought to use its leverage ov ...
world trade - SICE (OAS)
... down of their operations by 2.2 million man-hours, which cost workers in the sector a quarter of their wages for the last four months of 1998. This may have repercussions on the auto parts industry, which exports two-thirds of its output to Brazil. ...
... down of their operations by 2.2 million man-hours, which cost workers in the sector a quarter of their wages for the last four months of 1998. This may have repercussions on the auto parts industry, which exports two-thirds of its output to Brazil. ...
The IMF and Danmarks Nationalbank`s Balance Sheet
... The primary objective of the International Monetary Fund (IMF) is to prevent crises in the international monetary system. The IMF monitors the economic and financial development in its 184 member countries and submits recommendations concerning economic policy. The IMF may also provide temporary fin ...
... The primary objective of the International Monetary Fund (IMF) is to prevent crises in the international monetary system. The IMF monitors the economic and financial development in its 184 member countries and submits recommendations concerning economic policy. The IMF may also provide temporary fin ...
Inflation outlook over the next two years has taken a turn for the worse
... turn for the worse Long-term inflation prospects have taken a turn for the worse since the Central Bank of Iceland published its last inflation forecast in June this year. In particular this is the result of greater-thanexpected growth in domestic demand. Since the June forecast, a number of factors ...
... turn for the worse Long-term inflation prospects have taken a turn for the worse since the Central Bank of Iceland published its last inflation forecast in June this year. In particular this is the result of greater-thanexpected growth in domestic demand. Since the June forecast, a number of factors ...
S0311856_en.pdf
... neutral, with the US$ 3.5 billion in inflows comparing favourably with the outflows of US$ 14 billion recorded last year. In 2003, the countries of the region have been able to access funds at an average cost of 9.6%, which is 300 basis points less than 12 months earlier. Nevertheless, foreign inves ...
... neutral, with the US$ 3.5 billion in inflows comparing favourably with the outflows of US$ 14 billion recorded last year. In 2003, the countries of the region have been able to access funds at an average cost of 9.6%, which is 300 basis points less than 12 months earlier. Nevertheless, foreign inves ...
Arcos Dorados Holdings Inc.
... supported by 6.3% comparable sales growth and the contribution of new restaurant openings, partially offset by the refranchising of certain company-operated restaurants during the last twelve months. The latter generated a net negative contribution to constant currency revenue growth. Systemwide com ...
... supported by 6.3% comparable sales growth and the contribution of new restaurant openings, partially offset by the refranchising of certain company-operated restaurants during the last twelve months. The latter generated a net negative contribution to constant currency revenue growth. Systemwide com ...