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... The scenarios in the stability and convergence programmes concerning the development of debt to GDP ratios demonstrate clearly that the objectives of most governments are not ambitious. In France, Germany and Portugal, compliance with the strategies outlined in the programmes will not see debt ratio ...
... The scenarios in the stability and convergence programmes concerning the development of debt to GDP ratios demonstrate clearly that the objectives of most governments are not ambitious. In France, Germany and Portugal, compliance with the strategies outlined in the programmes will not see debt ratio ...
Read the Full Article - Independent Institute
... currently affecting Argentina extend beyond monetary policy. The monetary reform that we offer here should not be understood as a sufficient measure to end the recurrent economic problems in Argentina but as a useful step in that direction. Our plan is an update of the monetary reform for Argentina ...
... currently affecting Argentina extend beyond monetary policy. The monetary reform that we offer here should not be understood as a sufficient measure to end the recurrent economic problems in Argentina but as a useful step in that direction. Our plan is an update of the monetary reform for Argentina ...
The Impact of Budget Deficit
... The goal of this research is to analyze the dynamics of the Ukrainian budget deficit and inflation, try to reveal their mutual impacts, and summarize the lessons from the second half of the 1990s’ experience. The main hypothesis for empirical testing is whether fiscal imbalance itself helps to expla ...
... The goal of this research is to analyze the dynamics of the Ukrainian budget deficit and inflation, try to reveal their mutual impacts, and summarize the lessons from the second half of the 1990s’ experience. The main hypothesis for empirical testing is whether fiscal imbalance itself helps to expla ...
No.253 / June 2008 Exposure in External Balance Sheets
... That is, F X AGG decomposes into two elements of the net foreign asset position (nonreserve net foreign assets AN R L, plus foreign-exchange reserves F XR) and three elements of F X AGG;0 ( portfolio equity and direct investment foreign liabilities, plus domesticcurrency debt liabilities minus loca ...
... That is, F X AGG decomposes into two elements of the net foreign asset position (nonreserve net foreign assets AN R L, plus foreign-exchange reserves F XR) and three elements of F X AGG;0 ( portfolio equity and direct investment foreign liabilities, plus domesticcurrency debt liabilities minus loca ...
Aalborg Universitet
... the immediate impact and the rest of the world felt the impact gradually. Some economies were more seriously affected by than the others. Some economies are witnessing some signs of recovery from the recession while others are still struggling to overcome the impact. Overall, the direct and indirect ...
... the immediate impact and the rest of the world felt the impact gradually. Some economies were more seriously affected by than the others. Some economies are witnessing some signs of recovery from the recession while others are still struggling to overcome the impact. Overall, the direct and indirect ...
Development of Human and Physical Capital and Change in the
... summarize some of the more prominent works by various economists in the field of trade theory. These works deal with the topic of structural change in trade and the factors that might promote this change of structure. Morrison3 raises the importance of labor skills. Morrison says that "Since most de ...
... summarize some of the more prominent works by various economists in the field of trade theory. These works deal with the topic of structural change in trade and the factors that might promote this change of structure. Morrison3 raises the importance of labor skills. Morrison says that "Since most de ...
Macroeconomics Chamberlin and Yueh
... force a devaluation since they can completely exhaust the government’s reserves by their selling actions. The following pay-off matrix will result. • If one trader sold while the other did not, a profit of 2 will be made. • If both traders sell, then the trading revenue of 3 is shared between them, ...
... force a devaluation since they can completely exhaust the government’s reserves by their selling actions. The following pay-off matrix will result. • If one trader sold while the other did not, a profit of 2 will be made. • If both traders sell, then the trading revenue of 3 is shared between them, ...
Monetary Policy and Economic Policy
... authority of a country controls the supply of money, availability of money, and cost of money or rate of interest to attain a set of objectives oriented towards the growth and stability of the economy.Monetary theory provides insight into how to craft optimal monetary policy. Monetary policy rests o ...
... authority of a country controls the supply of money, availability of money, and cost of money or rate of interest to attain a set of objectives oriented towards the growth and stability of the economy.Monetary theory provides insight into how to craft optimal monetary policy. Monetary policy rests o ...
Characteristics and Possible Motivations
... are no longer permitted to conduct any foreign exchange transactions without the approval of the CAD (“Resolución No. 92” 2004). The process of de-dollarization was intensified with the issuance of Directives (Acuerdos) 13 and 15 by the Central Bank (BCC). Directive 13 (March 17, 2005) established a ...
... are no longer permitted to conduct any foreign exchange transactions without the approval of the CAD (“Resolución No. 92” 2004). The process of de-dollarization was intensified with the issuance of Directives (Acuerdos) 13 and 15 by the Central Bank (BCC). Directive 13 (March 17, 2005) established a ...
NBER WORKING PAPER SERIES CURRENT ACCOUNT ADJUSTMENT: SOME NEW THEORY AND EVIDENCE
... The result is supportive of our prediction. Third, we report evidence that a country’s current account (relative to total trade) is more variable if its labor market is more rigid. We interpret it as suggesting that economies with a more rigid labor market have a larger current account response to t ...
... The result is supportive of our prediction. Third, we report evidence that a country’s current account (relative to total trade) is more variable if its labor market is more rigid. We interpret it as suggesting that economies with a more rigid labor market have a larger current account response to t ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... from an anti-inflation policy used exclusively in LDCs-the exchange rate regime of a preannounced crawling peg. I do not address floating exchange rates because financial institutions in most LDCs are insufficiently developed to make that a viable policy option. Nor do I discuss the interesting ques ...
... from an anti-inflation policy used exclusively in LDCs-the exchange rate regime of a preannounced crawling peg. I do not address floating exchange rates because financial institutions in most LDCs are insufficiently developed to make that a viable policy option. Nor do I discuss the interesting ques ...
1.00
... –Account for bad debts using both a balance sheet approach and an income statement approach –Account for dispositions of accounts receivable, including collection, pledging as collateral, and factoring (selling) –Extract and interpret information on receivables from the financial statements ...
... –Account for bad debts using both a balance sheet approach and an income statement approach –Account for dispositions of accounts receivable, including collection, pledging as collateral, and factoring (selling) –Extract and interpret information on receivables from the financial statements ...
EXPORT DYNAMISM AND GROWTH IN CHILE SINCE THE 1980s Ricardo Ffrench-Davis
... management and negative external shocks (see chap. 6) caused aggregate demand to fall by 30% and GDP to shrink by over 14% between 1981 and 1983. In an effort to cope with the crisis, a number of discrete devaluations were applied since mid-1982, and later a crawling peg was reintroduced. At the sam ...
... management and negative external shocks (see chap. 6) caused aggregate demand to fall by 30% and GDP to shrink by over 14% between 1981 and 1983. In an effort to cope with the crisis, a number of discrete devaluations were applied since mid-1982, and later a crawling peg was reintroduced. At the sam ...
PDF, 348
... on the money, credit and foreign exchange markets. Important macroeconomic factors influencing the nominal exchange rate are domestic and foreign interest rate and employment levels (reflecting differences in business cycles) in the short run and domestic and foreign price levels in the long run. In ...
... on the money, credit and foreign exchange markets. Important macroeconomic factors influencing the nominal exchange rate are domestic and foreign interest rate and employment levels (reflecting differences in business cycles) in the short run and domestic and foreign price levels in the long run. In ...
eee06-Weyerstrass2 3772754 en
... investment and government transfer payments to private households, each in nominal terms, as well as the personal income tax rate and the social security contribution rate. With flexible exchange rates, the short-term interest rate can be used for discretionary policies in addition. The numerical re ...
... investment and government transfer payments to private households, each in nominal terms, as well as the personal income tax rate and the social security contribution rate. With flexible exchange rates, the short-term interest rate can be used for discretionary policies in addition. The numerical re ...
Financial Strategy for Economic Growth in Brazil: a Post Keynesian
... Post Keynesian economists support that inflation is symptom of a fight over the distribution of current income, as it is the result of attempts of alter the existing distribution of money income among economic agents of the same region, and/or interregionally, and/or internationally. In the Post Key ...
... Post Keynesian economists support that inflation is symptom of a fight over the distribution of current income, as it is the result of attempts of alter the existing distribution of money income among economic agents of the same region, and/or interregionally, and/or internationally. In the Post Key ...
Attainment of Potential Growth Rates in Nigeria under Balance of
... boom. This enabled the economy (GDP) to grow in real terms at an average of 8.4 per cent between 1971 and 1975 (Table 18.1) All these suggest that financial resource was not a constraint to growth during this period. This was also evident by deficit-GDP ratio which was very low but positive in some ...
... boom. This enabled the economy (GDP) to grow in real terms at an average of 8.4 per cent between 1971 and 1975 (Table 18.1) All these suggest that financial resource was not a constraint to growth during this period. This was also evident by deficit-GDP ratio which was very low but positive in some ...
Trade openness, financial liberalization and volatility The Latin American experience Esteban Pérez Caldentey
... Caeteris paribus it is assumed that in developing countries consumers favor present over future consumption (higher subjective discount rates and lower ratios of capital to labor (higher marginal product of capital). As a result, developing countries have higher rates of interest than developed coun ...
... Caeteris paribus it is assumed that in developing countries consumers favor present over future consumption (higher subjective discount rates and lower ratios of capital to labor (higher marginal product of capital). As a result, developing countries have higher rates of interest than developed coun ...
Why foreign savings fail to cause growth - Bresser
... Although foreign indebtedness is an old problem, the idea of growth with foreign savings assumed its character of deliberate strategy and became dominant only in the 90's. It was then followed by the financial opening of developing countries and by the great increase in capital flows towards them. ...
... Although foreign indebtedness is an old problem, the idea of growth with foreign savings assumed its character of deliberate strategy and became dominant only in the 90's. It was then followed by the financial opening of developing countries and by the great increase in capital flows towards them. ...
Word
... In light of years 2003-2011 the accruals of private debt increased the most in countries now facing also immense complications with the debts of their government sectors – in Ireland the private debt increased for the given period by 153 p.p. to 309.5 % of GDP, in Cyprus by 124 p.p. to 289.4 % of GD ...
... In light of years 2003-2011 the accruals of private debt increased the most in countries now facing also immense complications with the debts of their government sectors – in Ireland the private debt increased for the given period by 153 p.p. to 309.5 % of GDP, in Cyprus by 124 p.p. to 289.4 % of GD ...
Macroeconomic crises and Macroeconomic Models Daniel Heymann July- August 2010
... Trends, cycles, crises • Crises in economies with very different financial systems: based on bank intermediation or capital markets, sophisticated and diversified or simple and narrow asset structure, domestic or foreign unit of denomination (although contract “dollarization” can be important sourc ...
... Trends, cycles, crises • Crises in economies with very different financial systems: based on bank intermediation or capital markets, sophisticated and diversified or simple and narrow asset structure, domestic or foreign unit of denomination (although contract “dollarization” can be important sourc ...
Fiscal policy - WorkBank247.com
... MONETARY AND FISCAL POLICY IN AN OPEN ECONOMY • The effects of government policies are often ...
... MONETARY AND FISCAL POLICY IN AN OPEN ECONOMY • The effects of government policies are often ...
full text - Economics and Business Review
... standard of living, rather than introduce reforms that could lay the foundations of solid economic growth. The EU’s stabilisation mechanisms have not helped in Greece nor in Italy. These two countries are not exceptional – the euro harms even those countries which are perfectly governed. The common ...
... standard of living, rather than introduce reforms that could lay the foundations of solid economic growth. The EU’s stabilisation mechanisms have not helped in Greece nor in Italy. These two countries are not exceptional – the euro harms even those countries which are perfectly governed. The common ...
reply-to-harvey - Michael Roberts Blog
... identified the underlying cause of motion of earthly bodies in gravity and in force and counter-force. But we must also recognise that the ‘trigger’ for a crisis can be different: it could start from a collapsing stock market (1929) or bursting housing boom (2007), or a sharp jump in commodity pric ...
... identified the underlying cause of motion of earthly bodies in gravity and in force and counter-force. But we must also recognise that the ‘trigger’ for a crisis can be different: it could start from a collapsing stock market (1929) or bursting housing boom (2007), or a sharp jump in commodity pric ...
Economic environment
... gas production as production facilities were repaired and upgraded. Non-oil economic activity, however, strengthened, reflecting large oil revenue inflows and increased government spending. Based on the new national accounts data for 2006, annual economic growth was estimated to have been 5.1%, due ...
... gas production as production facilities were repaired and upgraded. Non-oil economic activity, however, strengthened, reflecting large oil revenue inflows and increased government spending. Based on the new national accounts data for 2006, annual economic growth was estimated to have been 5.1%, due ...