Fiscal policy considerations in the design of monetary policy
... Table 3: Peru: Central Reserve Bank Balance Sheet (As percentages of GDP, September 2011 figures) ...
... Table 3: Peru: Central Reserve Bank Balance Sheet (As percentages of GDP, September 2011 figures) ...
Robert Philip Flood Nancy Peregriin Marion Working Paper No. 500 1050
... rates in which the current—account exchange rate is fixed and the capital— account exchange rate is flexible, and two—tier exchange rates with separate, floating rates for current and capital—account transactions. It is assumed that expectations are rational, so only the unexpected portion of macro ...
... rates in which the current—account exchange rate is fixed and the capital— account exchange rate is flexible, and two—tier exchange rates with separate, floating rates for current and capital—account transactions. It is assumed that expectations are rational, so only the unexpected portion of macro ...
Principles of Macroeconomics
... demonstrate knowledge of the institutional structure of the Federal Reserve Bank and the monetary policy tools it uses to stabilize economic fluctuations and promote long-term economic growth. as well as the tools of fiscal policy and their impacts on income. employment, price level, deficits and in ...
... demonstrate knowledge of the institutional structure of the Federal Reserve Bank and the monetary policy tools it uses to stabilize economic fluctuations and promote long-term economic growth. as well as the tools of fiscal policy and their impacts on income. employment, price level, deficits and in ...
The Transfer Efficiency and Trade Effects of
... their use among crops in response to changes in relative prices. In modeling demand and supply of cropland, we defined a unique category of land for each crop in the same way as for the other-farm-owned aggregate. However, we assumed that the supply of land to each crop depends not only on the rental ...
... their use among crops in response to changes in relative prices. In modeling demand and supply of cropland, we defined a unique category of land for each crop in the same way as for the other-farm-owned aggregate. However, we assumed that the supply of land to each crop depends not only on the rental ...
Jeffrey Naoko Ishii McKibbin
... dollar in the case of a U.S. Fiscal expansion). This comes from our assumption of high (but not infinite) asset substituability between Japanese and U.S. assets reflecting the recent move towards liberalization of Japanese financial markets. The importance of this assumption will be discussed furthe ...
... dollar in the case of a U.S. Fiscal expansion). This comes from our assumption of high (but not infinite) asset substituability between Japanese and U.S. assets reflecting the recent move towards liberalization of Japanese financial markets. The importance of this assumption will be discussed furthe ...
14.02 Solutions Quiz III Spring 03
... investment, which depends on current Y, T and r, as well as expected future Y, T and r. 1) Is the IS curve in this model steeper or flatter relative to the basic IS-LM model? Explain why in 3-5 lines, being as precise as you can. STEEPER. The reason is that investment now depends not just on the cur ...
... investment, which depends on current Y, T and r, as well as expected future Y, T and r. 1) Is the IS curve in this model steeper or flatter relative to the basic IS-LM model? Explain why in 3-5 lines, being as precise as you can. STEEPER. The reason is that investment now depends not just on the cur ...
Monetary Policy Spillovers and the Trilemma in the - UW
... pegging regimes, however.13 Christiansen and Pigott (1997) also suggest that even under floating exchange rate regimes, foreign factors play an important role in affecting long-term interest rates. Hence, it is an empirical question how and to what extent both financial openness and exchange rate st ...
... pegging regimes, however.13 Christiansen and Pigott (1997) also suggest that even under floating exchange rate regimes, foreign factors play an important role in affecting long-term interest rates. Hence, it is an empirical question how and to what extent both financial openness and exchange rate st ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... accounts and to define the boundaries, insure internal consistency among these variables, and facilitate their interpretation and subsequent use. However, while Koopmans’s injunction is especially important for defining the role of capital in the national accounts, it does not specify any particular ...
... accounts and to define the boundaries, insure internal consistency among these variables, and facilitate their interpretation and subsequent use. However, while Koopmans’s injunction is especially important for defining the role of capital in the national accounts, it does not specify any particular ...
NBER WORKING PAPER SERIES TECHNOLOGY CAPITAL AND THE U.S. CURRENT ACCOUNT
... has been on improving estimates of the market value of foreign subsidiaries. Market values include the value of intangible assets and, if used when constructing FDI returns, could potentially eliminate the puzzling differential between returns on U.S. foreign operations and returns on foreign operat ...
... has been on improving estimates of the market value of foreign subsidiaries. Market values include the value of intangible assets and, if used when constructing FDI returns, could potentially eliminate the puzzling differential between returns on U.S. foreign operations and returns on foreign operat ...
Cross-Currency Exposures to the Swiss Franc*
... NFA position (that is, assets equal liabilities), then the ω Fijt = −0.05 = (0.2 ∗ 0.5 − 0.3 ∗ 0.5). If assets plus liabilities are equivalent to 200 percent of the country’s output, then BILAT N ET F Xijt is −10 percent. Thus a 10 percent depreciation of its currency against ...
... NFA position (that is, assets equal liabilities), then the ω Fijt = −0.05 = (0.2 ∗ 0.5 − 0.3 ∗ 0.5). If assets plus liabilities are equivalent to 200 percent of the country’s output, then BILAT N ET F Xijt is −10 percent. Thus a 10 percent depreciation of its currency against ...
Progressive approaches to budget deficits Malcolm Sawyer
... deficits in numerical terms where the number is ‘plucked out of the air’) is firstly to completely misunderstand the purposes of fissal policy and unbalanced budgets. It secondly argues that seeking a zero budget deficit would for many countries be difficult if not impossible to achieve, simply beca ...
... deficits in numerical terms where the number is ‘plucked out of the air’) is firstly to completely misunderstand the purposes of fissal policy and unbalanced budgets. It secondly argues that seeking a zero budget deficit would for many countries be difficult if not impossible to achieve, simply beca ...
The effects of globalisation on the supply of factors of production
... higher education degree. Given the available data, only a few countries can be taken into consideration, namely the OECD countries, plus the leading emerging countries. The data suggest that economic opening has led to a sharp increase in the "globalised" section of the working population, especiall ...
... higher education degree. Given the available data, only a few countries can be taken into consideration, namely the OECD countries, plus the leading emerging countries. The data suggest that economic opening has led to a sharp increase in the "globalised" section of the working population, especiall ...
Financial Crisis, Recessions and the State of
... the current nature of economic analysis in other fields, such as public finance, international trade, and labor economics ...
... the current nature of economic analysis in other fields, such as public finance, international trade, and labor economics ...
NBER WORKING PAPER SERIES INTERNATIONAL EFFECTS ON THE U.S. CAPITAL MARKET
... while the level of foreign investment in the U.S. grew enormously in the period 1973—1974, even the rate of growth in U.S. investment abroad has not been markedly smaller In other recent periods (see Figure 1). The size of these capital holdings leads one to anticipate that they might ...
... while the level of foreign investment in the U.S. grew enormously in the period 1973—1974, even the rate of growth in U.S. investment abroad has not been markedly smaller In other recent periods (see Figure 1). The size of these capital holdings leads one to anticipate that they might ...
General information - Hong Kong Institute for Monetary Research
... As the name suggests GIMF has been designed for joint monetary and fiscal policy analysis. This has involved extending the workhorse infinite-horizon (IH) model that has been developed for monetary policy analysis to allow for non-Ricardian household and firm behavior. There are two main advantages ...
... As the name suggests GIMF has been designed for joint monetary and fiscal policy analysis. This has involved extending the workhorse infinite-horizon (IH) model that has been developed for monetary policy analysis to allow for non-Ricardian household and firm behavior. There are two main advantages ...
select customer
... Result is null If there is no non-null amount All aggregate operations except count(*) ignore tuples with null ...
... Result is null If there is no non-null amount All aggregate operations except count(*) ignore tuples with null ...
3 – The East Asian Crisis - Utrecht University Repository
... Not many organisations have been the subject of so much controversy as the International Monetary Fund (IMF). Numerous highly acclaimed academics such as Jeffrey Sachs and Joseph Stiglitz have accused the IMF of being incompetent, secretive and a pawn of the United States Government.1 People in poor ...
... Not many organisations have been the subject of so much controversy as the International Monetary Fund (IMF). Numerous highly acclaimed academics such as Jeffrey Sachs and Joseph Stiglitz have accused the IMF of being incompetent, secretive and a pawn of the United States Government.1 People in poor ...
How to interpret the forward rate in the foreign exchange market
... market in the Tract on Monetary Reform, in which he expresses a view of the forward foreign exchange market now known as covered interest parity (CIP). CIP postulates that interest rate differentials between currencies should be perfectly reflected in FX forward rates (or the difference between the ...
... market in the Tract on Monetary Reform, in which he expresses a view of the forward foreign exchange market now known as covered interest parity (CIP). CIP postulates that interest rate differentials between currencies should be perfectly reflected in FX forward rates (or the difference between the ...
Costs and Benefits of Dollarization
... the purchasing power of their money income. However, the speed of the unofficial dollarization process will depend on the development of the financial system and the institutional regulations allowing domestic holding and circulation of foreign currency (Savastano 1996). A high degree of partial dol ...
... the purchasing power of their money income. However, the speed of the unofficial dollarization process will depend on the development of the financial system and the institutional regulations allowing domestic holding and circulation of foreign currency (Savastano 1996). A high degree of partial dol ...
Capital Mobility in a Dynamic Structuralist CGE Frank Collazo University of Vermont
... overview of an economy and shows the interactions among the agents at a particular point in time. The rows represent the income received from the different agents, while the column represent the expenditures. The Chilean SAM has two goods, represented by i, and two sectors, identified by j, which are ...
... overview of an economy and shows the interactions among the agents at a particular point in time. The rows represent the income received from the different agents, while the column represent the expenditures. The Chilean SAM has two goods, represented by i, and two sectors, identified by j, which are ...
Working Paper No. 315
... The classical-Harrodian model has five main features. First, unlike traditional macroeconomic models in which growth is strictly a long-run phenomenon, the classical-Harrodian model starts with the assumption that growth is a persistent feature of the economy, in the short run and in the long run. A ...
... The classical-Harrodian model has five main features. First, unlike traditional macroeconomic models in which growth is strictly a long-run phenomenon, the classical-Harrodian model starts with the assumption that growth is a persistent feature of the economy, in the short run and in the long run. A ...
Monetary Velocity in a Systemic
... Currency therefore is seen as an operating system of the economy. It has to be designed optimally to serve the economic processes and therefore should be stable, bug-free and tested, to use an analogy from the IT-world. 3.1 Currency as a closed system If we could demonstrate that a specific complem ...
... Currency therefore is seen as an operating system of the economy. It has to be designed optimally to serve the economic processes and therefore should be stable, bug-free and tested, to use an analogy from the IT-world. 3.1 Currency as a closed system If we could demonstrate that a specific complem ...
Will China and India conquer the world? Essay: We
... economies have harnessed the global economy to support development. The initial rise of many emerging economies is based on exports to the developed world. Along with the export of goods and services, the emerging economies have exported deflation, in the form of cheaper products and low interest ra ...
... economies have harnessed the global economy to support development. The initial rise of many emerging economies is based on exports to the developed world. Along with the export of goods and services, the emerging economies have exported deflation, in the form of cheaper products and low interest ra ...
Debt
... because this ratio better measures the government’s ability to handle the deficit and pay off the debt Since 2008, the U.S. has run significant deficits and the debt-toGDP ratio has risen to over 100 percent ...
... because this ratio better measures the government’s ability to handle the deficit and pay off the debt Since 2008, the U.S. has run significant deficits and the debt-toGDP ratio has risen to over 100 percent ...
Required Reserves
... The Bank of Canada purchases $10,000 of Canadian government bonds on the open market directly from Scotia Bank. If the required reserve ratio (m) is 25%, then the maximum potential change in the money supply as a result of the open market operation will be?: ...
... The Bank of Canada purchases $10,000 of Canadian government bonds on the open market directly from Scotia Bank. If the required reserve ratio (m) is 25%, then the maximum potential change in the money supply as a result of the open market operation will be?: ...