Revisiting the Case for a Tobin Tax Post Asian Crisis
... 1990s helped to somewhat cushion the exchange rate depreciations in 1997-98. Also of importance is the fact that the regional economies began re-accumulating international reserve holdings following the sharp declines in 1997, implying that the current account surpluses exceeded the total capital ou ...
... 1990s helped to somewhat cushion the exchange rate depreciations in 1997-98. Also of importance is the fact that the regional economies began re-accumulating international reserve holdings following the sharp declines in 1997, implying that the current account surpluses exceeded the total capital ou ...
Measuring National Income and Growth in Resource
... attention to absorptive capacity and is willing to hold financial assets in a resource fund when competitive domestic investments are not available. The resource fund also helps buffer Dutch disease effects and provides the basis for government to run counter-cyclical fiscal policies to smooth out b ...
... attention to absorptive capacity and is willing to hold financial assets in a resource fund when competitive domestic investments are not available. The resource fund also helps buffer Dutch disease effects and provides the basis for government to run counter-cyclical fiscal policies to smooth out b ...
The Mother of All Sudden Stops: Capital Flows and Reversals in
... debtors were in fact larger in 2011 than in 1931 but they were also compensated by much larger inflows of official capital. We find further that push factors (conditions in international capital markets) do better than pull factors (conditions in the borrowing countries) in explaining the surge and ...
... debtors were in fact larger in 2011 than in 1931 but they were also compensated by much larger inflows of official capital. We find further that push factors (conditions in international capital markets) do better than pull factors (conditions in the borrowing countries) in explaining the surge and ...
Eric Helleiner, The Southern Side of Embedded
... level of which remains fixed by international factors, but by a direct increase in imports, with a correlative deficit in the inflow and outflow of foreign exchange” (Triffin1946: 80). He also noted that traditional adjustment mechanisms may be inappropriate in situations where a balance of payments ...
... level of which remains fixed by international factors, but by a direct increase in imports, with a correlative deficit in the inflow and outflow of foreign exchange” (Triffin1946: 80). He also noted that traditional adjustment mechanisms may be inappropriate in situations where a balance of payments ...
Financial Stability, the Trilemma, and International Reserves
... The rapid growth of international reserves—a development concentrated in the emerging markets—remains a puzzle. In this paper we suggest that a model based on financial stability and financial openness goes far toward explaining reserve holdings in the modern era of globalized capital markets. The s ...
... The rapid growth of international reserves—a development concentrated in the emerging markets—remains a puzzle. In this paper we suggest that a model based on financial stability and financial openness goes far toward explaining reserve holdings in the modern era of globalized capital markets. The s ...
October 20, 2014
... exerting strong downward pressure on RUB. Although the drawdown of FX reserves has been modest by historic standards, the market should watch out for the signs of re-dollarisation of household bank deposits, which would exacerbate the pressure on ...
... exerting strong downward pressure on RUB. Although the drawdown of FX reserves has been modest by historic standards, the market should watch out for the signs of re-dollarisation of household bank deposits, which would exacerbate the pressure on ...
Week 4
... to the average percentage change in a foreign country's exchange rate with the U.S. dollar. The figure shows that those countries with relatively high inflation rates tend to have depreciating (lower) exchange rates to the dollar while those with relatively low inflation rates tend to experience ap ...
... to the average percentage change in a foreign country's exchange rate with the U.S. dollar. The figure shows that those countries with relatively high inflation rates tend to have depreciating (lower) exchange rates to the dollar while those with relatively low inflation rates tend to experience ap ...
Week 7 Practice Quiz c Answers - The University of Chicago Booth
... Money supply (MS) = Total deposits in banking system (TD) + Total currency held outside the banking system (TC) Note here that the Treasury is buying U.S. Treasuries. We should be clear to distinguish this from the Fed engaging in open market operations. This will have no effect on the money supply, ...
... Money supply (MS) = Total deposits in banking system (TD) + Total currency held outside the banking system (TC) Note here that the Treasury is buying U.S. Treasuries. We should be clear to distinguish this from the Fed engaging in open market operations. This will have no effect on the money supply, ...
25_econ_chapter_15
... • Raising the reserve ratio increases required reserves but shrinks excess reserves. • A reduction of excess reserves reduces a bank’s lending ability which reduces money supply by a multiple of the change in excess reserves. • Raising the reserve ratio is contractionary. • Lowering the reserve rati ...
... • Raising the reserve ratio increases required reserves but shrinks excess reserves. • A reduction of excess reserves reduces a bank’s lending ability which reduces money supply by a multiple of the change in excess reserves. • Raising the reserve ratio is contractionary. • Lowering the reserve rati ...
The Political Economy of the Asian Crisis
... The sequence of events that is still denoted the “Asian” financial crisis has now produced a global economic crisis. It began with the destabilization of several Southeastern Asian currencies in summer 1997. By summer 1998, Wall Street had lost momentum. The IMF’s inability to stop Russia’s mid-summ ...
... The sequence of events that is still denoted the “Asian” financial crisis has now produced a global economic crisis. It began with the destabilization of several Southeastern Asian currencies in summer 1997. By summer 1998, Wall Street had lost momentum. The IMF’s inability to stop Russia’s mid-summ ...
Mankiw 6e PowerPoints
... Mexico’s central bank had repeatedly promised foreign investors that it would not allow the peso’s value to fall, so it bought pesos and sold dollars to “prop up” the peso exchange rate. ...
... Mexico’s central bank had repeatedly promised foreign investors that it would not allow the peso’s value to fall, so it bought pesos and sold dollars to “prop up” the peso exchange rate. ...
Comparative Advantage and International Trade
... exported a steadily growing share of its output (that is, its gross domestic product) to other countries and imported a growing share of its consumption from abroad. Panel (b) illustrates the fact that international trade is more important to Canada than it is to many other countries. © 2005 Worth P ...
... exported a steadily growing share of its output (that is, its gross domestic product) to other countries and imported a growing share of its consumption from abroad. Panel (b) illustrates the fact that international trade is more important to Canada than it is to many other countries. © 2005 Worth P ...
Mankiw 6e PowerPoints
... Mexico’s central bank had repeatedly promised foreign investors that it would not allow the peso’s value to fall, so it bought pesos and sold dollars to “prop up” the peso exchange rate. ...
... Mexico’s central bank had repeatedly promised foreign investors that it would not allow the peso’s value to fall, so it bought pesos and sold dollars to “prop up” the peso exchange rate. ...
86007026I_en.pdf
... exchange rates can be destabilized by third-currency fluctuations. Pegged rates, in contrast, may be more akin to persistent misalignments and hence less supportive to export growth. Nilsson and Nilsson (2000), using a gravity model for more than 100 countries, find that more flexible regimes favour ...
... exchange rates can be destabilized by third-currency fluctuations. Pegged rates, in contrast, may be more akin to persistent misalignments and hence less supportive to export growth. Nilsson and Nilsson (2000), using a gravity model for more than 100 countries, find that more flexible regimes favour ...
Study Guide 14
... Movement of capital causes change exchange rates Interest rate volatility exchange rate volatility ...
... Movement of capital causes change exchange rates Interest rate volatility exchange rate volatility ...
WILL FISCAL POLICY IN THE EURO AREA BE SUFFICIENTLY R
... be very difficult to deal with; however, external leakages of fiscal stabilisation may pose a problem, especially to smaller, open economies. It is also worth noting that countries’ ability to deal with symmetric shocks is dependent on the degree of structural flexibility in the country; thus, the g ...
... be very difficult to deal with; however, external leakages of fiscal stabilisation may pose a problem, especially to smaller, open economies. It is also worth noting that countries’ ability to deal with symmetric shocks is dependent on the degree of structural flexibility in the country; thus, the g ...
Adjustment and growth prospects of the developed economies
... Despite the support of monetary policy, recovery in the major economies is proving slow, fragile and uneven. Some of these economies, such as the United States, have returned to growth rates close to pre-crisis levels; others, including some in the euro area, continue to post growth rates far below ...
... Despite the support of monetary policy, recovery in the major economies is proving slow, fragile and uneven. Some of these economies, such as the United States, have returned to growth rates close to pre-crisis levels; others, including some in the euro area, continue to post growth rates far below ...
PDF
... demand for Kenya's exports is assumed to depend on the price of these relative to the world market price of comparable goods, with elasticities of demand of 3 .0, 1.5 and 1. 0 for agriculture, industry and services, respectively. Income accruing to the various household groups from ownership of fact ...
... demand for Kenya's exports is assumed to depend on the price of these relative to the world market price of comparable goods, with elasticities of demand of 3 .0, 1.5 and 1. 0 for agriculture, industry and services, respectively. Income accruing to the various household groups from ownership of fact ...
Chapter 1
... 2. So long as foreigners are willing to hold U.S. bonds, external financing has no real cost. B. Repayment 1. Foreigners may not be willing to hold bonds forever. 2. External debt must be paid with exports of real goods and services. VIII. Deficit and Debt Limits A. Deficit ceilings 1. Only way to s ...
... 2. So long as foreigners are willing to hold U.S. bonds, external financing has no real cost. B. Repayment 1. Foreigners may not be willing to hold bonds forever. 2. External debt must be paid with exports of real goods and services. VIII. Deficit and Debt Limits A. Deficit ceilings 1. Only way to s ...
The IMF`s Financial Crisis Loans: No change in conditionalities
... in order to bolster aggregate demand and boost consumption, the advice stated in the IMF’s loan conditions are a sharp contrast to their statements. For example, the IMF’s SBA loan of $532 million to Serbia states that “..there is no scope now for countercyclical fiscal loosening. Anything less than ...
... in order to bolster aggregate demand and boost consumption, the advice stated in the IMF’s loan conditions are a sharp contrast to their statements. For example, the IMF’s SBA loan of $532 million to Serbia states that “..there is no scope now for countercyclical fiscal loosening. Anything less than ...
UK government debt and deficit as reported to the European
... Article 126 of the Treaty on the Functioning of the European Union (EU) obliges member states to avoid excessive budgetary deficits. The Protocol on the Excessive Deficit Procedure, annexed to the Maastricht Treaty, defines two criteria and reference values with which member states’ governments shou ...
... Article 126 of the Treaty on the Functioning of the European Union (EU) obliges member states to avoid excessive budgetary deficits. The Protocol on the Excessive Deficit Procedure, annexed to the Maastricht Treaty, defines two criteria and reference values with which member states’ governments shou ...
Currency Trader
... Also open to debate is whether the G7 will attempt to engineer a “soft landing” for the greenback or let the market cut its legs out from under it. The overall economic and intermarket picture is about as confusing as it could be. While the dollar is weak, commodities are up, stocks are up and treas ...
... Also open to debate is whether the G7 will attempt to engineer a “soft landing” for the greenback or let the market cut its legs out from under it. The overall economic and intermarket picture is about as confusing as it could be. While the dollar is weak, commodities are up, stocks are up and treas ...
TRADING RULE PROFITS AND FOREIGN EXCHANGE MARKET
... finding that forex is efficient and uncovered interest parity holds. However, some recent works suggest otherwise, that excess returns can be generated by trading foreign currencies1. Some of this work explores the use of technical trading rules that provide signals regarding when to buy or sell th ...
... finding that forex is efficient and uncovered interest parity holds. However, some recent works suggest otherwise, that excess returns can be generated by trading foreign currencies1. Some of this work explores the use of technical trading rules that provide signals regarding when to buy or sell th ...
Financial markets
... interest payments to the holder every year until the maturity date. Ex: A coupon bond with 1000 YTL face value, 50% coupon rate, annual coupon payments and 5 years maturity issued by the Treasury. The treasury will pay you 500 YTL every year and ...
... interest payments to the holder every year until the maturity date. Ex: A coupon bond with 1000 YTL face value, 50% coupon rate, annual coupon payments and 5 years maturity issued by the Treasury. The treasury will pay you 500 YTL every year and ...
Colombian Issuance of Local Currency Bond in the Global Market
... The Risks • Some of those problems were improved but there are many others that remain – Volatility of TES (limited historical information) – Construction of the VAR model – Stress Testing for a sustained decrease in prices and no buyers – Disclosure of derivative positions – Disclosure of risk in ...
... The Risks • Some of those problems were improved but there are many others that remain – Volatility of TES (limited historical information) – Construction of the VAR model – Stress Testing for a sustained decrease in prices and no buyers – Disclosure of derivative positions – Disclosure of risk in ...