WORLD ECONOMIC OUTLOOK, September 2003--Chapter 1
... economy has not just been due to the war. The equity boom in the late 1990s was the largest in modern history: the unwinding of its effects is uncharted territory, and it is perhaps not surprising that most observers, including the World Economic Outlook, have found it difficult to gauge the afterma ...
... economy has not just been due to the war. The equity boom in the late 1990s was the largest in modern history: the unwinding of its effects is uncharted territory, and it is perhaps not surprising that most observers, including the World Economic Outlook, have found it difficult to gauge the afterma ...
Patterns, Paradoxes, and Puzzles of International Capital Flows
... The surge in international capital flows in the 1990s has renewed interest in understanding the forces driving them. Although the predictions of the neoclassical theory regarding the determinants of international capital mobility are well established, the data has not been willing to support these p ...
... The surge in international capital flows in the 1990s has renewed interest in understanding the forces driving them. Although the predictions of the neoclassical theory regarding the determinants of international capital mobility are well established, the data has not been willing to support these p ...
What`s changed in the international financial system and its
... — with US$750 billion pledged (although not yet fully committed) to the IMF. Some US$250 billion has already been issued to all IMF member countries (although not yet converted) in the form of SDRs, 6 the IMF’s reserve asset. For the remainder, industrialized and reserve-rich governments are lending ...
... — with US$750 billion pledged (although not yet fully committed) to the IMF. Some US$250 billion has already been issued to all IMF member countries (although not yet converted) in the form of SDRs, 6 the IMF’s reserve asset. For the remainder, industrialized and reserve-rich governments are lending ...
Foreign Currency Loans and Systemic Risk in Europe
... need to take two hedging positions: one vis-à-vis the euro and another one between the euro and the CHF. Since each hedging instrument also entails a transaction cost, the “profit” from borrowing in a low-yielding currency would simply vanish in this case. There are no studies in the literature that ...
... need to take two hedging positions: one vis-à-vis the euro and another one between the euro and the CHF. Since each hedging instrument also entails a transaction cost, the “profit” from borrowing in a low-yielding currency would simply vanish in this case. There are no studies in the literature that ...
The Ministry of Higher and Special Education of Republic of
... banks, prevent many foreign firms from paying their workers as much as they would like. Labor market regulations in Uzbekistan are similar to those of the Soviet Union, with all rights guaranteed but some rights unobserved. Unemployment is a growing problem, and the number of people looking for jobs ...
... banks, prevent many foreign firms from paying their workers as much as they would like. Labor market regulations in Uzbekistan are similar to those of the Soviet Union, with all rights guaranteed but some rights unobserved. Unemployment is a growing problem, and the number of people looking for jobs ...
Macroeconomics in developing countries
... that investment is an independent (exogenous) variable to which saving adjusts as a dependent (endogenous) variable. Investment is autonomous, deterrnined by profit expectations of firrns, while saving is induced, determined by income of households. The distinction rests on the institutional assumpt ...
... that investment is an independent (exogenous) variable to which saving adjusts as a dependent (endogenous) variable. Investment is autonomous, deterrnined by profit expectations of firrns, while saving is induced, determined by income of households. The distinction rests on the institutional assumpt ...
EUROPEAN COMMISSION Brussels, 2.6.2014 SWD(2014) 401 final
... on long-term growth and public debt sustainability are multiple1. In fact, poverty matters for productivity via the access to education and health services, while inequality has dynamic effects on growth through private debt accumulation and consumption growth. Additionally, higher poverty and unemp ...
... on long-term growth and public debt sustainability are multiple1. In fact, poverty matters for productivity via the access to education and health services, while inequality has dynamic effects on growth through private debt accumulation and consumption growth. Additionally, higher poverty and unemp ...
Failures of Financial Supervision and Systemic Banking Crises:Who Pays the Bill?
... indeed, this is not a variable that captures the effect of real economic costs, but only the redistributive transfers. For this reason, a most recent literature has focused attention on the loss of output, throughout it is possible to estimate the real effect of crises on economy. A first estimate ...
... indeed, this is not a variable that captures the effect of real economic costs, but only the redistributive transfers. For this reason, a most recent literature has focused attention on the loss of output, throughout it is possible to estimate the real effect of crises on economy. A first estimate ...
Chapter 16 Macroeconomic Policy in an open economy
... particular policies © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password‐protected website for classroom use ...
... particular policies © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password‐protected website for classroom use ...
public debt, external competitiveness, and fiscal discipline in
... long lags in collection (Tanzi, 1977). The lags between accruals and payments reflect the fact that penalties for lateness are low or not enforced. A broad gamut of tax exemptions also hold down revenues. The budget deficits resulting from these fiscal rigidities had to be covered in large .part by ...
... long lags in collection (Tanzi, 1977). The lags between accruals and payments reflect the fact that penalties for lateness are low or not enforced. A broad gamut of tax exemptions also hold down revenues. The budget deficits resulting from these fiscal rigidities had to be covered in large .part by ...
Should Greece Remain in the Eurozone?
... long-term solvency of the government, which is necessary in order to avoid capital ‡ight and the resulting collapse of the banking system. Is there any way to avoid the root problem of required de‡ation?2 If Greece had never joined the Eurozone but had retained the drachma as its currency, the requi ...
... long-term solvency of the government, which is necessary in order to avoid capital ‡ight and the resulting collapse of the banking system. Is there any way to avoid the root problem of required de‡ation?2 If Greece had never joined the Eurozone but had retained the drachma as its currency, the requi ...
Economic Growth Controlling Capital : focusing on the 1960s
... more affected by the country’s growth potential rather than by regulation itself (Mody and Murshid, 2002). Capital controls are likely to maintain foreign reserves, allow for the manipulation of the terms of trade for trade growth, and, most importantly, stabilize the economy, thereby further boosti ...
... more affected by the country’s growth potential rather than by regulation itself (Mody and Murshid, 2002). Capital controls are likely to maintain foreign reserves, allow for the manipulation of the terms of trade for trade growth, and, most importantly, stabilize the economy, thereby further boosti ...
The Case of Greece
... prices is displayed in Figure 3, although the available data do not distinguish between public and private investment. According to the data, the recessions during the 1980s were associated, though not necessarily in a uni-directional causal manner, with the negative effect of gross investment and – ...
... prices is displayed in Figure 3, although the available data do not distinguish between public and private investment. According to the data, the recessions during the 1980s were associated, though not necessarily in a uni-directional causal manner, with the negative effect of gross investment and – ...
Accounting for asymmetric growth effect of capital flows in a model
... aggregate demand amplifies the damaging deleveraging process (Jeanne et al., 2012). The common thread that links currency crash and financial and economic crises is foreign currency debt (see, for instance, Bordo et al., 2010; Bordo and Meissner, 2006). In other words, in the absence of foreign curr ...
... aggregate demand amplifies the damaging deleveraging process (Jeanne et al., 2012). The common thread that links currency crash and financial and economic crises is foreign currency debt (see, for instance, Bordo et al., 2010; Bordo and Meissner, 2006). In other words, in the absence of foreign curr ...
Mark scheme - Unit F585 - The global economy - June
... payments on current account, exports, imports, savings, taxation receipts, government expenditure, budget deficit (PSNCR), investment, consumption, exchange rate, national debt (x2) 1 mark for a description of how a relevant macroeconomic performance indicator is likely to be affected by negative ec ...
... payments on current account, exports, imports, savings, taxation receipts, government expenditure, budget deficit (PSNCR), investment, consumption, exchange rate, national debt (x2) 1 mark for a description of how a relevant macroeconomic performance indicator is likely to be affected by negative ec ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... persistently keeping the size of the government small and leaving small budgetary surpluses in most fiscal years. It has also refrained from using fiscal policy as a fine-tuning tool. The legal system has remained intact, and Hong Kong’s economic freedom has always been rated at the highest level by ...
... persistently keeping the size of the government small and leaving small budgetary surpluses in most fiscal years. It has also refrained from using fiscal policy as a fine-tuning tool. The legal system has remained intact, and Hong Kong’s economic freedom has always been rated at the highest level by ...
ECONOMIC OUTLOOK MONETARY POLICY and January 3, 2012
... The improvement in the current account balance is expected to be more evident and pronounced in the following months. Inflation has shown a temporary rise in recent months due to exchange rate movements, hikes in administered prices, and base effects of unprocessed food prices. Inflation will hover ...
... The improvement in the current account balance is expected to be more evident and pronounced in the following months. Inflation has shown a temporary rise in recent months due to exchange rate movements, hikes in administered prices, and base effects of unprocessed food prices. Inflation will hover ...
Practice Question Set 1
... What will be impacts on FREX rate in the short-run (with rigid level) and in the long-run (with flexible price level)? Obviously you will have to use the Trade Approach. Specify what theories you are using for the analysis of the short- and the long-term impacts. 1) The government applies Monetary P ...
... What will be impacts on FREX rate in the short-run (with rigid level) and in the long-run (with flexible price level)? Obviously you will have to use the Trade Approach. Specify what theories you are using for the analysis of the short- and the long-term impacts. 1) The government applies Monetary P ...
Commentary: Global Liquidity: Public and Private
... What aspect to focus on, again, depends on the question. For example, it is true that foreign currency and cross-border credit tends to outpace domestic credit during unsustainable credit booms (e.g., Borio et al. 2011; Avdjev et al. 2012; and Lane 2013). But its relevance should be seen within the ...
... What aspect to focus on, again, depends on the question. For example, it is true that foreign currency and cross-border credit tends to outpace domestic credit during unsustainable credit booms (e.g., Borio et al. 2011; Avdjev et al. 2012; and Lane 2013). But its relevance should be seen within the ...
Chapter 16 Output and the Exchange Rate in the Short Run
... The Equation of Aggregate Demand The Real Exchange Rate and Aggregate Demand • An increase in q raises CA and D. – It makes domestic goods and services cheaper relative to foreign goods and services. – It shifts both domestic and foreign spending from foreign goods to domestic goods. – A real dep ...
... The Equation of Aggregate Demand The Real Exchange Rate and Aggregate Demand • An increase in q raises CA and D. – It makes domestic goods and services cheaper relative to foreign goods and services. – It shifts both domestic and foreign spending from foreign goods to domestic goods. – A real dep ...
Trade Balances, Economic Growth and Linkages to
... improves the trade balance. His regression analysis showed that the long-term effects of foreignowned U.S. manufacturing are more significant in improving U.S. exports than exchange rates, relative prices, or economic growth. He found two reasons for these effects. First, the inward transfer of tech ...
... improves the trade balance. His regression analysis showed that the long-term effects of foreignowned U.S. manufacturing are more significant in improving U.S. exports than exchange rates, relative prices, or economic growth. He found two reasons for these effects. First, the inward transfer of tech ...
2. Outlook and Policy Challenges for Latin America and the
... problems are being compounded by weaker terms of trade and high uncertainty, including about the fallout from the Petrobras investigation and the impact of a protracted drought on electricity supply. Consumer sentiment has also worsened sharply, amid elevated inflation, tighter credit supply, and an ...
... problems are being compounded by weaker terms of trade and high uncertainty, including about the fallout from the Petrobras investigation and the impact of a protracted drought on electricity supply. Consumer sentiment has also worsened sharply, amid elevated inflation, tighter credit supply, and an ...
Policies to boost savings via capital markets : Case of Korea
... In Korea, firms have financed investment capital mainly through bank channel. However, (1) Sharply decreased HH saving rate implies limited role of banks in the future (2) Aging society & growth potential of public pension and retirement pension (3) Low growth- low interest rate increasing need fo ...
... In Korea, firms have financed investment capital mainly through bank channel. However, (1) Sharply decreased HH saving rate implies limited role of banks in the future (2) Aging society & growth potential of public pension and retirement pension (3) Low growth- low interest rate increasing need fo ...
Revisiting Latin America`s debt crisis: some lessons for
... debt-to-GDP ratio (d); it involved large costs in terms of productivity, welfare and institutional losses. Further, we contend that Latin America’s experience may also be a source of lessons for some euro countries currently undergoing financial distress and facing a set of austerity policy response ...
... debt-to-GDP ratio (d); it involved large costs in terms of productivity, welfare and institutional losses. Further, we contend that Latin America’s experience may also be a source of lessons for some euro countries currently undergoing financial distress and facing a set of austerity policy response ...