Climate Change - Sensible Policy
... East Asia (the periphery) pegs to the US dollar (the center’s currency) -- “The Revived Bretton Woods System” – “Fear of floating” – East Asia maintains exchange rates stable vis-à-vis the US dollar. – Distort real exchange rate to keep competitiveness of export sector (but how long can this work?). ...
... East Asia (the periphery) pegs to the US dollar (the center’s currency) -- “The Revived Bretton Woods System” – “Fear of floating” – East Asia maintains exchange rates stable vis-à-vis the US dollar. – Distort real exchange rate to keep competitiveness of export sector (but how long can this work?). ...
F S B C
... reserves is simultaneously pegging the exchange rate and following an expansive fiscal policy inconsistent with the indefinite maintenance of the peg. Because the fiscal expenditures are financed by running down foreign reserves, an eventual currency collapse is inevitable. Krugman elegantly showed ...
... reserves is simultaneously pegging the exchange rate and following an expansive fiscal policy inconsistent with the indefinite maintenance of the peg. Because the fiscal expenditures are financed by running down foreign reserves, an eventual currency collapse is inevitable. Krugman elegantly showed ...
Country outlook
... history. The clean-up and reconstruction costs are mounting and have direct implications for federal finances, which will remain in deep deficit, given limited resolve to curb discretionary spending. Monetary policy tightening will continue, as the Federal Reserve (central bank) remains concerned ab ...
... history. The clean-up and reconstruction costs are mounting and have direct implications for federal finances, which will remain in deep deficit, given limited resolve to curb discretionary spending. Monetary policy tightening will continue, as the Federal Reserve (central bank) remains concerned ab ...
Since 2002, the U.S. has seen the emergence of
... of capital, which fosters investment; second, the reduction in tax rates itself fosters investment. As a result, the current account deteriorates. Why the twins sometimes go their separate ways Although theory indicates that the budget deficit and the current account deficit should move together, Fi ...
... of capital, which fosters investment; second, the reduction in tax rates itself fosters investment. As a result, the current account deteriorates. Why the twins sometimes go their separate ways Although theory indicates that the budget deficit and the current account deficit should move together, Fi ...
Chile_en.pdf
... by risks which arose in the external and internal environments. First, soaring world commodity prices, while favourable for several of the country’s exports, were reflected in increasing costs for a number of goods which affected prices on the domestic market: fuels, wheat, maize and milk. This was ...
... by risks which arose in the external and internal environments. First, soaring world commodity prices, while favourable for several of the country’s exports, were reflected in increasing costs for a number of goods which affected prices on the domestic market: fuels, wheat, maize and milk. This was ...
EconomicHistory(ASRIMarch2016)
... – Monetary policy should maintained to ensure that currencies stayed with 1% of their pegged value e.g. • if there was inflation in a country then this would tend to cause a depreciation (as exports are less competitive and imports are more competitive), • in order to avoid a depreciation the countr ...
... – Monetary policy should maintained to ensure that currencies stayed with 1% of their pegged value e.g. • if there was inflation in a country then this would tend to cause a depreciation (as exports are less competitive and imports are more competitive), • in order to avoid a depreciation the countr ...
a. projected excess reserves of the banking system
... Private sector reserves include Foreign Currency Denominated Accounts (FCDAs) and ADBs own forex positions million per month is used in this calculation ...
... Private sector reserves include Foreign Currency Denominated Accounts (FCDAs) and ADBs own forex positions million per month is used in this calculation ...
Dominican_Republic_en.pdf
... average for the year), within the target range of between 6% and 7%. Owing to the depletion of idle capacity in key sectors of the economy and rising oil prices as a result of the political crisis in the Middle East, inflation picked up in early 2011. This is beginning to affect core inflation, whic ...
... average for the year), within the target range of between 6% and 7%. Owing to the depletion of idle capacity in key sectors of the economy and rising oil prices as a result of the political crisis in the Middle East, inflation picked up in early 2011. This is beginning to affect core inflation, whic ...
Guatemala_en.pdf
... May 2009, given the downturn in economic activity and the real reduction in tax revenues of around 2.6% of GDP, the budget was adjusted to reduce the resulting gap (approximately 4 billion quetzales over the amount budgeted). In addition, the National Congress authorized an increase in the issuance ...
... May 2009, given the downturn in economic activity and the real reduction in tax revenues of around 2.6% of GDP, the budget was adjusted to reduce the resulting gap (approximately 4 billion quetzales over the amount budgeted). In addition, the National Congress authorized an increase in the issuance ...
Bolivia_en.pdf
... Private consumption was boosted in particular by strong job creation and wage growth combined with the greater provision of credit, and public consumption, by increases in transfers and salaries. However, the most notable change was the performance of gross fixed capital formation, whose impact on G ...
... Private consumption was boosted in particular by strong job creation and wage growth combined with the greater provision of credit, and public consumption, by increases in transfers and salaries. However, the most notable change was the performance of gross fixed capital formation, whose impact on G ...
Open-economy Macroeconomics
... External balance means that the trade is balanced. If e goes up, NX goes up. To maintain the external balance, A should also go up, to increase imports and reduce NX. ...
... External balance means that the trade is balanced. If e goes up, NX goes up. To maintain the external balance, A should also go up, to increase imports and reduce NX. ...
How to View a Trade ... Account Deficit ― Domestic Reforms Necessary for a Structural Change in the
... Decline of Added Values as a Structural Problem Japan’s trade balance moved into the red the year the Great Earthquake occurred. There is an argument that a sharp increase in exported fossil fuels needed to increase thermal power to deal with the suspension of nuclear power was a particular cause of ...
... Decline of Added Values as a Structural Problem Japan’s trade balance moved into the red the year the Great Earthquake occurred. There is an argument that a sharp increase in exported fossil fuels needed to increase thermal power to deal with the suspension of nuclear power was a particular cause of ...
On Global Currencies Jeffrey Frankel, Harpel Professor, Harvard
... • (ii) monetary authorities do have tools to prick bubbles; • (iii) the habit of rescuing the markets after the crash (the “Greenspan put”) created a moral hazard problem which exacerbated the speculative bubbles; and • (iv) the cost in terms of lost output can be enormous, even when the central ban ...
... • (ii) monetary authorities do have tools to prick bubbles; • (iii) the habit of rescuing the markets after the crash (the “Greenspan put”) created a moral hazard problem which exacerbated the speculative bubbles; and • (iv) the cost in terms of lost output can be enormous, even when the central ban ...
Argentina Crisis Presentation
... Mexico Crisis 1995 (Argentina recovered) Asian Crisis 1997 ( terms of trade) Russian Crisis 1998 (K-flows dried out) Brazilian devaluation January 1999 Euro depreciation against dollar 2000 World recession 2001 ...
... Mexico Crisis 1995 (Argentina recovered) Asian Crisis 1997 ( terms of trade) Russian Crisis 1998 (K-flows dried out) Brazilian devaluation January 1999 Euro depreciation against dollar 2000 World recession 2001 ...
Paraguay_en.pdf
... equivalent to a 5.5% drop in per capita GDP. This performance largely reflected a 25.0% decline in the agricultural sector, which was hurt by the drought in 2009 and the fall in international prices for agricultural products. Agricultural production plummeted, with the largest drop in soybean (38.9% ...
... equivalent to a 5.5% drop in per capita GDP. This performance largely reflected a 25.0% decline in the agricultural sector, which was hurt by the drought in 2009 and the fall in international prices for agricultural products. Agricultural production plummeted, with the largest drop in soybean (38.9% ...
In Greek mythology, Cassandra was a princess of Troy, the
... sure, there was no lack of analysis or discussion. But there was a lack of corrective action, and a lack of enforcement of the agreed corrective policy measures. What we are witnessing today is a disorderly unwinding of the past build-up of imbalances. Not only are growth forecasts being revised dow ...
... sure, there was no lack of analysis or discussion. But there was a lack of corrective action, and a lack of enforcement of the agreed corrective policy measures. What we are witnessing today is a disorderly unwinding of the past build-up of imbalances. Not only are growth forecasts being revised dow ...
Powerpoint - Halifax Initiative
... (e.g. construction) bubbles instead • Cheaper finance for consumption binges • Over-investment excess capacity • All exacerbate instability, pro-cyclicality ...
... (e.g. construction) bubbles instead • Cheaper finance for consumption binges • Over-investment excess capacity • All exacerbate instability, pro-cyclicality ...
Dominican_Republic_en.pdf
... Tax reform legislation (Law 253-12) enacted in late 2012 raised the transaction tax on industrialized goods and services (ITBIS) from 16% to 18%, with a lower tax (8%) for goods that had previously been exempt. This boosted central government revenue, which was up 12.4% in September, while total cen ...
... Tax reform legislation (Law 253-12) enacted in late 2012 raised the transaction tax on industrialized goods and services (ITBIS) from 16% to 18%, with a lower tax (8%) for goods that had previously been exempt. This boosted central government revenue, which was up 12.4% in September, while total cen ...
The Monetary Approach to the Balance of Payments
... Finance Chapter 2), much of the economics literature that appeared before the monetary approach was developed explained balance of payments movements as the result of current or financial account changes. An important contribution of the monetary approach was to stress that in many situations, balan ...
... Finance Chapter 2), much of the economics literature that appeared before the monetary approach was developed explained balance of payments movements as the result of current or financial account changes. An important contribution of the monetary approach was to stress that in many situations, balan ...
... expanding by 22.1% year-on-year in April 2015, on the back of increased business lending. By contrast, dollar-denominated credit fell by 7.4% in the same period as measures were implemented by the central bank to raise the dollar reserve requirement and discourage dollar-denominated lending. The nom ...
Global Trade Terms
... critics of the World Bank believe that the institution was not started in order to reduce poverty but rather to support US business interests, and that the bank has actually increased poverty. International Monetary Fund(IMF)- The International Monetary Fund (IMF) is an international organization th ...
... critics of the World Bank believe that the institution was not started in order to reduce poverty but rather to support US business interests, and that the bank has actually increased poverty. International Monetary Fund(IMF)- The International Monetary Fund (IMF) is an international organization th ...
ECON-262 Principles of Macroeconomics
... • Identify the fiscal and monetary policy tools • Introduce the balance of payment and exchange rates Learning Outcomes: After completion of the course students are expected to be able to: • Measure economic variables (GNP and its components, inflation, unemployment, money supply, balance of payment ...
... • Identify the fiscal and monetary policy tools • Introduce the balance of payment and exchange rates Learning Outcomes: After completion of the course students are expected to be able to: • Measure economic variables (GNP and its components, inflation, unemployment, money supply, balance of payment ...
INTERNATIONAL
... and balance of payments. • Balance of Trade • Exports minus imports • If exports exceed imports, nation has a trade surplus. • If imports exceed exports, nation has a trade deficit. • No reason to expect them to be even, but deficits for many years should concern countries because they can’t keep co ...
... and balance of payments. • Balance of Trade • Exports minus imports • If exports exceed imports, nation has a trade surplus. • If imports exceed exports, nation has a trade deficit. • No reason to expect them to be even, but deficits for many years should concern countries because they can’t keep co ...