Cours 6 - Solvay Brussels School
... A critique of the IMF approach (7) The effects of stabilisation programmes A main methodological problem of testing the effects of an IMF programme is to what compare the observed situation. Four approaches may be used : • “Before and after”. The problem is here that the economic environment has ...
... A critique of the IMF approach (7) The effects of stabilisation programmes A main methodological problem of testing the effects of an IMF programme is to what compare the observed situation. Four approaches may be used : • “Before and after”. The problem is here that the economic environment has ...
Journal of International Development J. Int. Dev. 22, 739–757 (2010)
... External disequilibria received the brunt of attention in early development economics because these were understood as potentially snubbing out nascent efforts at rapid industrial catch-up. Similar to other leading pioneers of the sub-discipline, the early CEPAL economists focused on chronic foreign ...
... External disequilibria received the brunt of attention in early development economics because these were understood as potentially snubbing out nascent efforts at rapid industrial catch-up. Similar to other leading pioneers of the sub-discipline, the early CEPAL economists focused on chronic foreign ...
What explains who suffered most?
... The calibre of our staff is impressive: we have over 70 experienced professional economists, with offices in the UK, US, France, Dubai and Singapore. ...
... The calibre of our staff is impressive: we have over 70 experienced professional economists, with offices in the UK, US, France, Dubai and Singapore. ...
NBER WORKING PAPER SERIES Pierpaolo Benigno Working Paper 12219
... without any changes in the net-foreign asset position.4 Instead, global efficiency would require a transfer of real wealth to the other country. In a frictionless world valuation effects work in this direction: an appreciation of the nominal exchange rate acts as a negative financial shock that reduc ...
... without any changes in the net-foreign asset position.4 Instead, global efficiency would require a transfer of real wealth to the other country. In a frictionless world valuation effects work in this direction: an appreciation of the nominal exchange rate acts as a negative financial shock that reduc ...
Economics 104B - Lecture Notes Part III
... It is the amount earned over a period of time. Because a “flow” variable is measured over a period of time, we need to specify what that period is, whether an hour, month, quarter, or year. Generally, a person who has a high income will have high wealth, but this is not always the case. A person rig ...
... It is the amount earned over a period of time. Because a “flow” variable is measured over a period of time, we need to specify what that period is, whether an hour, month, quarter, or year. Generally, a person who has a high income will have high wealth, but this is not always the case. A person rig ...
Chapter 12 - Pearson Higher Education
... Copyright ©2014 Pearson Education, Inc. All rights reserved. ...
... Copyright ©2014 Pearson Education, Inc. All rights reserved. ...
Why are we in a recession?
... degree of interdependence among the major economies of the world through trade links and international capital flows. The current crisis must be understood in this context. In a closed economy, it is a simple accounting identity that the sum of domestic investment must equal domestic savings in each ...
... degree of interdependence among the major economies of the world through trade links and international capital flows. The current crisis must be understood in this context. In a closed economy, it is a simple accounting identity that the sum of domestic investment must equal domestic savings in each ...
Economic environment - World Trade Organization
... The key policy interest rate of the BAM remained unchanged at 3.25 per cent between December 2002 and September 2008 when, in the face of a renewed threat of inflation, it was increased to 3.50 per cent. In its December 2008 quarterly report, the BAM Council considered that one special feature of th ...
... The key policy interest rate of the BAM remained unchanged at 3.25 per cent between December 2002 and September 2008 when, in the face of a renewed threat of inflation, it was increased to 3.50 per cent. In its December 2008 quarterly report, the BAM Council considered that one special feature of th ...
Problem Session II
... • If the government de cit increases, at a very high rate, this means the government will borrow more, which will result in an increase in the domestic interest rates. Since the relative expected return of the assets denominated in TL increases, demand curve for TL in the foreign exchange market shi ...
... • If the government de cit increases, at a very high rate, this means the government will borrow more, which will result in an increase in the domestic interest rates. Since the relative expected return of the assets denominated in TL increases, demand curve for TL in the foreign exchange market shi ...
Capital Flows, Financial Stability, and Monetary Policy Hakan Kara
... The new policy set-up and the tools developed by the CBT have eased the trade-offs posed by cross border capital flows. ...
... The new policy set-up and the tools developed by the CBT have eased the trade-offs posed by cross border capital flows. ...
Currency Wars and its impact on Saudi Arabia
... was characterized by currency crisis, primarily due to wars. The post-World War era can be further classified into pre-Bretton Woods phase (before 1973) and post-Bretton Woods phase (after 1973). In the Bretton Woods phase, the member countries declared the par value for their currency, either in te ...
... was characterized by currency crisis, primarily due to wars. The post-World War era can be further classified into pre-Bretton Woods phase (before 1973) and post-Bretton Woods phase (after 1973). In the Bretton Woods phase, the member countries declared the par value for their currency, either in te ...
Deficits and Debt
... • We must focus on changes in the structural deficit, not the total deficit. – Fiscal stimulus is measured by an increase in the structural deficit (or shrinkage in the structural surplus). – Fiscal restraint is measured by a decrease in the structural deficit (or increase in the structural surplus) ...
... • We must focus on changes in the structural deficit, not the total deficit. – Fiscal stimulus is measured by an increase in the structural deficit (or shrinkage in the structural surplus). – Fiscal restraint is measured by a decrease in the structural deficit (or increase in the structural surplus) ...
67051073I_en.pdf
... by Odría with that applied four decades later by Fujimori. Among their common features, González (1994) mentions the openness of the trade and capital accounts and a State which plays only a minimum part in the economy and encourages foreign investment, especially in the commodity export sector and ...
... by Odría with that applied four decades later by Fujimori. Among their common features, González (1994) mentions the openness of the trade and capital accounts and a State which plays only a minimum part in the economy and encourages foreign investment, especially in the commodity export sector and ...
Saudi Arabia`s Exchange Rate Policy Its Impact on Historical
... tightly with the US dollar in mid-1986, at a value that has not changed for almost three decades.2 Perhaps the most noteworthy development has been the plethora of different combinations of regimes and arrangements, ranging from freely floating currencies with a minimum of intervention to currency ...
... tightly with the US dollar in mid-1986, at a value that has not changed for almost three decades.2 Perhaps the most noteworthy development has been the plethora of different combinations of regimes and arrangements, ranging from freely floating currencies with a minimum of intervention to currency ...
Hegemony and Crisis in Global Political Economy: The Importance
... imbalance in trade given the increased imports of raw materials, energy, and/ or intermediate goods to sustain their relatively high growth rates. With the exception of China and the oil-exporting countries, which have trade surpluses, developing countries have current account deficits in their bala ...
... imbalance in trade given the increased imports of raw materials, energy, and/ or intermediate goods to sustain their relatively high growth rates. With the exception of China and the oil-exporting countries, which have trade surpluses, developing countries have current account deficits in their bala ...
report - Financial Policy Forum
... This more diversified flow of foreign capital (diversified in the sense that various vehicles were used to channel the capital flows) generated a different distribution of risks. Compared to the bank loans of the 1970s and early 1980s, this more diversified flow of capital tended to distribute risk ...
... This more diversified flow of foreign capital (diversified in the sense that various vehicles were used to channel the capital flows) generated a different distribution of risks. Compared to the bank loans of the 1970s and early 1980s, this more diversified flow of capital tended to distribute risk ...
Early Indicators of Currency Crises
... indicators that have found support are trade balance, export performance, money growth, M2/international reserves ratio, foreign interest rates, real GDP growth, and fiscal deficit. Many of the proposed leading indicators have been able to predict particular crises, however, only few have showed abi ...
... indicators that have found support are trade balance, export performance, money growth, M2/international reserves ratio, foreign interest rates, real GDP growth, and fiscal deficit. Many of the proposed leading indicators have been able to predict particular crises, however, only few have showed abi ...
Money
... borrow from the Fed ◦ Reserve Requirement: The fraction of each deposit a bank must maintain as reserves (not to be lent) ◦ Federal Funds Rate: The interest rate commercial banks charge each other for overnight loans (guaranteed by deposits at the Fed) benchmark nominal interest rate in the ...
... borrow from the Fed ◦ Reserve Requirement: The fraction of each deposit a bank must maintain as reserves (not to be lent) ◦ Federal Funds Rate: The interest rate commercial banks charge each other for overnight loans (guaranteed by deposits at the Fed) benchmark nominal interest rate in the ...
India`s Macroeconomic Performance and Policies since 2000
... spurt) and a steadily rising oil import bill took the current account back into deficit. This is the second noteworthy trend: between 2003/4 and 20007/8 India’s merchandise trade deficit to GDP ratio rose steeply from 2.3 percent to 7.7 percent. And this happened despite strong growth of exports, av ...
... spurt) and a steadily rising oil import bill took the current account back into deficit. This is the second noteworthy trend: between 2003/4 and 20007/8 India’s merchandise trade deficit to GDP ratio rose steeply from 2.3 percent to 7.7 percent. And this happened despite strong growth of exports, av ...
GGDP_CIN12_Ghana_UK-Trade-Post-Brexit_Final
... do with receiving smaller amounts as the value of the Pound falls in the short term, or their UKbased relatives will have top-up to maintain the same Cedi equivalent. For example, £100 sent from the UK to Ghana on 22 June 2016 would have fetched an average of GHS570 whereas the same amount sent on 2 ...
... do with receiving smaller amounts as the value of the Pound falls in the short term, or their UKbased relatives will have top-up to maintain the same Cedi equivalent. For example, £100 sent from the UK to Ghana on 22 June 2016 would have fetched an average of GHS570 whereas the same amount sent on 2 ...
chapter eleven - McGraw Hill Higher Education
... For instance, should the government make sure that its spending and tax revenues always balance every year, or perhaps every business cycle or alternatively should it deliberately over- or under- spend in order to correct problems in the economy? 43A. The federal government owes most of its debt to ...
... For instance, should the government make sure that its spending and tax revenues always balance every year, or perhaps every business cycle or alternatively should it deliberately over- or under- spend in order to correct problems in the economy? 43A. The federal government owes most of its debt to ...
PDF
... on imports for investment and consumption purposes continued unabated, and agricultural exports, migrant worker remittances, and transit and tourist services were critical for foreign exchange earnings. Moreover, the Portuguese colonial rule left a legacy of widespread administrative controls, combi ...
... on imports for investment and consumption purposes continued unabated, and agricultural exports, migrant worker remittances, and transit and tourist services were critical for foreign exchange earnings. Moreover, the Portuguese colonial rule left a legacy of widespread administrative controls, combi ...
The Importance of Keynes
... positive effects on income and employment because they yielded fruits that “could not serve the needs of man by being consumed” and therefore do not ‘stale with abundance’” (General Theory) “Two pyramids, two masses for the dead, are twice as good as one; but not two railways from London to York” ...
... positive effects on income and employment because they yielded fruits that “could not serve the needs of man by being consumed” and therefore do not ‘stale with abundance’” (General Theory) “Two pyramids, two masses for the dead, are twice as good as one; but not two railways from London to York” ...
Debate The End of Peripheries? On the Enduring Relevance of
... markets’ and the direction of capital flows from them to the United States both stand in contrast to the classic nineteenth century set-up in which Great Britain exported manufactures and finance to the peripheries in exchange for commodities. By using the nineteenth century international economic o ...
... markets’ and the direction of capital flows from them to the United States both stand in contrast to the classic nineteenth century set-up in which Great Britain exported manufactures and finance to the peripheries in exchange for commodities. By using the nineteenth century international economic o ...