Eco 460: International Finance Administrivia Readings
... “The United States has never run such large current account deficits and no single nation’s deficit has ever bulked nearly as large relative to the global economy.” Former Treasury Secretary Larry Summers, Oct 3, 2004 “The imbalances between the United States and the rest of the world are not sustai ...
... “The United States has never run such large current account deficits and no single nation’s deficit has ever bulked nearly as large relative to the global economy.” Former Treasury Secretary Larry Summers, Oct 3, 2004 “The imbalances between the United States and the rest of the world are not sustai ...
THE POLITICAL ECONOMY OF GLOBAL ECONOMIC DISGOVERNANCE Luiz Carlos Bresser-Pereira
... actually are (Bresser-Pereira, 2004) –, in the case of the IMF the failure was evident: actually this organization contributed actively for the 1990s crises. Although they were loosely called financial crises, they were specifically balance of payment crises, because they involved the suspension by ...
... actually are (Bresser-Pereira, 2004) –, in the case of the IMF the failure was evident: actually this organization contributed actively for the 1990s crises. Although they were loosely called financial crises, they were specifically balance of payment crises, because they involved the suspension by ...
Indonesian and S. Korean Financial Crisis
... Moody’s lowered South Korea’s credit rating from A1 to A3 then to B2 ...
... Moody’s lowered South Korea’s credit rating from A1 to A3 then to B2 ...
Nicaragua_en.pdf
... employment and financial stability. The implementation of some of these measures, however, was held back by the aforementioned fall in fiscal revenue. The central government deficit excluding grants stood at 4.8% of GDP, 0.6 percentage points above the 2008 figure. The fiscal deficit after grants st ...
... employment and financial stability. The implementation of some of these measures, however, was held back by the aforementioned fall in fiscal revenue. The central government deficit excluding grants stood at 4.8% of GDP, 0.6 percentage points above the 2008 figure. The fiscal deficit after grants st ...
Paraguay_en.pdf
... the second half of 2008. This slowdown will be caused by, among other factors, a drop in income from the external sector and a less buoyant agricultural activity on account of the drought. A growth rate of 3% is projected for 2009. ...
... the second half of 2008. This slowdown will be caused by, among other factors, a drop in income from the external sector and a less buoyant agricultural activity on account of the drought. A growth rate of 3% is projected for 2009. ...
Problem Set # 6 Solutions - Faculty Directory | Berkeley-Haas
... of dollars to be invested abroad. The lower supply of dollars causes the equilibrium real exchange rate to rise. As a result, domestic goods become more expensive relative to foreign goods, which causes exports to fall and imports to rise. In other words, as we determined in Figure 5–7, the trade ba ...
... of dollars to be invested abroad. The lower supply of dollars causes the equilibrium real exchange rate to rise. As a result, domestic goods become more expensive relative to foreign goods, which causes exports to fall and imports to rise. In other words, as we determined in Figure 5–7, the trade ba ...
Internal balance External balance
... maintaining internal balance was mixed. – Example: The U.S. unemployment rate averaged 6.8% between 1890 and 1913, but it averaged under 5.7% between 1946 and 1992. ...
... maintaining internal balance was mixed. – Example: The U.S. unemployment rate averaged 6.8% between 1890 and 1913, but it averaged under 5.7% between 1946 and 1992. ...
from Bretton Woods to the non-system
... Constitution of the Bretton Woods System and the gold-dollar pattern. Hegemony of the dollar. The end of gold-dollar pattern. Eurodollars and oil-dollars. The financial globalization: movements of capital and financial crises. Financial liberalization and its impact on the dependent economies. Rise ...
... Constitution of the Bretton Woods System and the gold-dollar pattern. Hegemony of the dollar. The end of gold-dollar pattern. Eurodollars and oil-dollars. The financial globalization: movements of capital and financial crises. Financial liberalization and its impact on the dependent economies. Rise ...
Haiti_en.pdf
... were not passed through in full to local consumers and were offset by the international humanitarian assistance received and the stronger exchange rate. Consequently, general inflation (September to September) stood at only 4.7%, while food price inflation was 5%. Employment policy was oriented towa ...
... were not passed through in full to local consumers and were offset by the international humanitarian assistance received and the stronger exchange rate. Consequently, general inflation (September to September) stood at only 4.7%, while food price inflation was 5%. Employment policy was oriented towa ...
Chronology of Events
... 1.) The peg cured hyperinflation of the late 1980’s. If the peg was abandoned, Argentina may have lost price stability. 2.) Much of the country’s debt was in dollar-denominated amounts. If the peso had devalued then the peso size of the debt would have increased. This could have lead to bankruptcies ...
... 1.) The peg cured hyperinflation of the late 1980’s. If the peg was abandoned, Argentina may have lost price stability. 2.) Much of the country’s debt was in dollar-denominated amounts. If the peso had devalued then the peso size of the debt would have increased. This could have lead to bankruptcies ...
Pegged exchange rate
... with a budget deficit, no legal entity is responsible for the trade deficit. The trade deficits of the U.S. during the 1980s and 90s were largely the result of rapid growth and a favorable investment climate. ...
... with a budget deficit, no legal entity is responsible for the trade deficit. The trade deficits of the U.S. during the 1980s and 90s were largely the result of rapid growth and a favorable investment climate. ...
Barbados_en.pdf
... remained soft. Deposits have also shown a modest uptick, with much of this additional liquidity, however, being used to purchase treasury bills. The treasury bill rate slipped from 3.6% to 3.2% year on year during the first three quarters of 2014. Year on year, the country’s current account deficit ...
... remained soft. Deposits have also shown a modest uptick, with much of this additional liquidity, however, being used to purchase treasury bills. The treasury bill rate slipped from 3.6% to 3.2% year on year during the first three quarters of 2014. Year on year, the country’s current account deficit ...
The Greenspan Legacy of Hyperinflation
... created by inflation and hyper-inflation consumption falls but is more than offset by hoarding such that composite demand increases. But this demand that is fueled by a desire to diversify out of a depreciating currency depends on someone being willing to take the other side of the trade and to acce ...
... created by inflation and hyper-inflation consumption falls but is more than offset by hoarding such that composite demand increases. But this demand that is fueled by a desire to diversify out of a depreciating currency depends on someone being willing to take the other side of the trade and to acce ...
Haiti_en.pdf
... development and reconstruction. Despite the external shocks caused by the international financial crisis, macroeconomic indicators were relatively favourable in 2009. Real GDP growth stood at 2.9%, ...
... development and reconstruction. Despite the external shocks caused by the international financial crisis, macroeconomic indicators were relatively favourable in 2009. Real GDP growth stood at 2.9%, ...
... Ecuador faced significant challenges and changes in 2015, owing to the fall in oil prices and its impact on tax revenues and on the balance-of-payments current account. As a result, the State budget was cut by 6.1%, with a focus on reducing investment expenditure. The year is expected to close with ...
... government’s commitment to boost investment, particularly in infrastructure. The Budget Act has approved an overall deficit of 3.5% GDP for 2015. In early 2015, the Ministry of Finance changed the method for calculating fiscal statistics, moving from the 1986 manual on government finance statistics ...
Panel 2, Songzuo Xiang | Challenges of the International Monetary
... exchange rates floating leads to Global Growth Slowdown. “ The major puzzle of postwar economic history is the slowdown of the growth trend of major industrial countries in the early 1970s. The timing of the slowdown largely coincided with the introduction of generalized float among those countries. ...
... exchange rates floating leads to Global Growth Slowdown. “ The major puzzle of postwar economic history is the slowdown of the growth trend of major industrial countries in the early 1970s. The timing of the slowdown largely coincided with the introduction of generalized float among those countries. ...
Jamaica_en.pdf
... The contraction of the Jamaican economy was estimated at 1.3% in 2010, an improvement from the decline of 2.7% the previous year. Among the many reasons were the lacklustre economic growth among Jamaica’s trading partners, especially the United States, weak domestic demand, and uncertainty among the ...
... The contraction of the Jamaican economy was estimated at 1.3% in 2010, an improvement from the decline of 2.7% the previous year. Among the many reasons were the lacklustre economic growth among Jamaica’s trading partners, especially the United States, weak domestic demand, and uncertainty among the ...
Interview with Tony Thirlwall A Keynesian View
... irresponsible bank lending to poor people and the repackaging of risky mortgages (which international banks lapped up and passed on - like a game of pass the parcel with more paper added rather than taken off!), which led ultimately to the so-called sub-prime market crisis and the exposure of major ...
... irresponsible bank lending to poor people and the repackaging of risky mortgages (which international banks lapped up and passed on - like a game of pass the parcel with more paper added rather than taken off!), which led ultimately to the so-called sub-prime market crisis and the exposure of major ...
Economics Notes
... What is specialization? Making one product well, cheaply, and efficiently Why would it encourage trade? It gives a country something that other countries want to buy or trade for. What is currency exchange rate? A method where one country’s money is exchanged for another country’s money Why do we ne ...
... What is specialization? Making one product well, cheaply, and efficiently Why would it encourage trade? It gives a country something that other countries want to buy or trade for. What is currency exchange rate? A method where one country’s money is exchanged for another country’s money Why do we ne ...
Perú_en.pdf
... Monetary policy was expansionary in 2013, although monetary aggregates expanded at a slower rate from the third quarter. M1 and M2 monetary aggregates grew by 7.2% and 5.9%, respectively, between December 2012 and December 2013, which represented a sharp decline in growth compared with June 2013, wh ...
... Monetary policy was expansionary in 2013, although monetary aggregates expanded at a slower rate from the third quarter. M1 and M2 monetary aggregates grew by 7.2% and 5.9%, respectively, between December 2012 and December 2013, which represented a sharp decline in growth compared with June 2013, wh ...
Budget Deficit - Meltem INCE YENILMEZ
... The Current Account (CA) records the nation’s current international transactions including exports and imports of goods and services (i.e. NX), net income from abroad and net unilateral transfer payments. The Capital Account (KA) records international capital flows, which consist of purchases and sa ...
... The Current Account (CA) records the nation’s current international transactions including exports and imports of goods and services (i.e. NX), net income from abroad and net unilateral transfer payments. The Capital Account (KA) records international capital flows, which consist of purchases and sa ...
