Will the Dollar remain the reserve currency?
... of diversified safe assets that have accentuated the volatility of cross-border flows, which in turn have posed big challenges to monetary and financial stability in Asia. To cope with this challenge, Asian central banks, as a selfinsurance policy, have been accumulating foreign reserves for drawing ...
... of diversified safe assets that have accentuated the volatility of cross-border flows, which in turn have posed big challenges to monetary and financial stability in Asia. To cope with this challenge, Asian central banks, as a selfinsurance policy, have been accumulating foreign reserves for drawing ...
International Studies Minor
... HIS 321/561 Modernization in Non-Western World PSC 338 U.S. Foreign Policy & Developing World PSC 340 Politics and Development PSC 425 Sex & Global Society PSC 465 Democratization SOC 340 Population SOC 355 Sociology of the Environment Culture & Ideas ANT 201 World Cultures ANT 275 Language and Cult ...
... HIS 321/561 Modernization in Non-Western World PSC 338 U.S. Foreign Policy & Developing World PSC 340 Politics and Development PSC 425 Sex & Global Society PSC 465 Democratization SOC 340 Population SOC 355 Sociology of the Environment Culture & Ideas ANT 201 World Cultures ANT 275 Language and Cult ...
The international monetary and financial system
... elasticity, fall into three categories: perceptions of value and risk, incentives to take on risk, and powerful feedback mechanisms. Perceptions of value and risk are loosely anchored and highly procyclical: they tend to fall during booms and to reverse course sharply only during busts. The procycli ...
... elasticity, fall into three categories: perceptions of value and risk, incentives to take on risk, and powerful feedback mechanisms. Perceptions of value and risk are loosely anchored and highly procyclical: they tend to fall during booms and to reverse course sharply only during busts. The procycli ...
Monetary Policy under Alternative Asset Market Structures: the Case
... In a complete markets setting, Benigno and Benigno (2003) explore the consequences of such internal and external distortions for optimal monetary policy in a stochastic twocountry framework. De Paoli (2008) and Faia and Monacelli (2008) present a similar analysis in a small open economy setting.3 Th ...
... In a complete markets setting, Benigno and Benigno (2003) explore the consequences of such internal and external distortions for optimal monetary policy in a stochastic twocountry framework. De Paoli (2008) and Faia and Monacelli (2008) present a similar analysis in a small open economy setting.3 Th ...
What is the IMF? - UCLA Division of Social Sciences
... negotiates for weak conditions: – IMF required only that domestic credit usage by the public sector ...
... negotiates for weak conditions: – IMF required only that domestic credit usage by the public sector ...
Confronting the Global Crisis in Latin America
... enough to withstand (at least initially) the worsening of global conditions… …and, thus, the region was better equipped to pursue countercyclical monetary and fiscal policies to mitigate the impact of adverse external shocks Policy Trade-offs for Unprecedented Times: Confronting the Global Crisis i ...
... enough to withstand (at least initially) the worsening of global conditions… …and, thus, the region was better equipped to pursue countercyclical monetary and fiscal policies to mitigate the impact of adverse external shocks Policy Trade-offs for Unprecedented Times: Confronting the Global Crisis i ...
The World Bank EU10 Regular Economic Report Main Report
... percent in the euro area and 11.7 percent in Japan in the fourth quarter 2008. Leading indicators point to an ongoing recession in the high income countries into July 2009, suggesting a sustained slump in global demand over the coming months. OECD’s April 2009 composite leading indicator of industri ...
... percent in the euro area and 11.7 percent in Japan in the fourth quarter 2008. Leading indicators point to an ongoing recession in the high income countries into July 2009, suggesting a sustained slump in global demand over the coming months. OECD’s April 2009 composite leading indicator of industri ...
Regional pull vs global push factors
... countries. Such flows, driven by international investors’ need for diversification and enabled by the increasing opening-up of individual countries, have made any geographical division of markets increasingly irrelevant. In this environment, fluctuations in one economy’s financial markets can arise ...
... countries. Such flows, driven by international investors’ need for diversification and enabled by the increasing opening-up of individual countries, have made any geographical division of markets increasingly irrelevant. In this environment, fluctuations in one economy’s financial markets can arise ...
Chapter 02 - Understanding Economics and How It Affects Business
... Corruption’s (See complete PowerPoint slide notes on page 2.48.) Effect on the ...
... Corruption’s (See complete PowerPoint slide notes on page 2.48.) Effect on the ...
Are the Foreign-Currency Official Reserves of Emerging Asia Excessive?
... But as reserves are not only advantageous; countries also incur costs by holding reserves, such as inflation, sterilization costs, opportunity costs, and central bank balance sheet losses (Green and Torgerson, 2007). Buying foreign currency leads to a rise in the monetary base. Therefore, the moneta ...
... But as reserves are not only advantageous; countries also incur costs by holding reserves, such as inflation, sterilization costs, opportunity costs, and central bank balance sheet losses (Green and Torgerson, 2007). Buying foreign currency leads to a rise in the monetary base. Therefore, the moneta ...
DannyDorlingManchester_5_4_2011
... lower wages so more in-work benefits needed, an aging population so higher health costs, some 51% of women attending university so why not 51% of men, higher school costs, and debt payments to make, and – in 2002, no Iraq war to pay for (‘defence’ up 2% ’01-’05). ...
... lower wages so more in-work benefits needed, an aging population so higher health costs, some 51% of women attending university so why not 51% of men, higher school costs, and debt payments to make, and – in 2002, no Iraq war to pay for (‘defence’ up 2% ’01-’05). ...
Kiss Me Deadly: From Finnish Great Depression to Great Recession
... study, the depression should be blamed on the collapse of the Finnish–Soviet trade and an adverse oil price shock, amplified by a rigid labor market. The latter points to an increase in taxes on labor and consumption combined with higher government spending. Freystätter (2011) instead employs a New ...
... study, the depression should be blamed on the collapse of the Finnish–Soviet trade and an adverse oil price shock, amplified by a rigid labor market. The latter points to an increase in taxes on labor and consumption combined with higher government spending. Freystätter (2011) instead employs a New ...
Monetary and Fiscal Policies
... differential growth patterns across industries is much more pronounced in the aftermath of a financial crisis than it is for other recessions. One potential drawback of this study is the small sample. The author relies on just 15 financial crisis episodes, not all of which are systemic. Furthermore, ...
... differential growth patterns across industries is much more pronounced in the aftermath of a financial crisis than it is for other recessions. One potential drawback of this study is the small sample. The author relies on just 15 financial crisis episodes, not all of which are systemic. Furthermore, ...
Budget and External Deficits: Not Twins but the Same Family an
... overshooting in the form of trade or current account surpluses to pay down some of the debt. In addition, if 50 percent were a de facto market-induced limit, then there would be limited scope for deficits larger than 3 percent of GDP going forward. In effect, they would have to average around that f ...
... overshooting in the form of trade or current account surpluses to pay down some of the debt. In addition, if 50 percent were a de facto market-induced limit, then there would be limited scope for deficits larger than 3 percent of GDP going forward. In effect, they would have to average around that f ...
Regional Economic Outlook: Middle East and Central Asia
... hurt growth in most MCD countries, depressing exports and commodity prices. Tighter credit in advanced economies and lower risk appetite, as evidenced by widening sovereign spreads, could also curtail the capital inflows that have supported growth in many countries in the region. The key macroeconom ...
... hurt growth in most MCD countries, depressing exports and commodity prices. Tighter credit in advanced economies and lower risk appetite, as evidenced by widening sovereign spreads, could also curtail the capital inflows that have supported growth in many countries in the region. The key macroeconom ...
Latin America and the Rising South: Changing World, Changing
... This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) http:// creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the ...
... This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) http:// creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the ...
sovereign wealth funds: a developing country perspective
... However, although the “competitiveness” motives of foreign exchange reserve accumulation, as well as the absence of appropriate coordination mechanisms for exchange rate policies in export-led economies may be part of the explanation, the recent literature comes definitely in favor of “self-insuran ...
... However, although the “competitiveness” motives of foreign exchange reserve accumulation, as well as the absence of appropriate coordination mechanisms for exchange rate policies in export-led economies may be part of the explanation, the recent literature comes definitely in favor of “self-insuran ...
A DSGE model for Iceland
... firms are determined by current and expected future marginal costs, the central bank therefore controls inflation through its current and expected future interest rate decisions. In addition, by affecting the return to domestic financial assets relative to foreign ones, the central bank’s interest rate ...
... firms are determined by current and expected future marginal costs, the central bank therefore controls inflation through its current and expected future interest rate decisions. In addition, by affecting the return to domestic financial assets relative to foreign ones, the central bank’s interest rate ...
This PDF is a selection from a published volume from... of Economic Research
... We argue that this result bears an important general lesson, regarding the importance of a “financial channel” in the international transmission mechanism. Specifically, the model economy emphasizes that, given the monetary and fiscal feedback rules in place, an increase in domestic government spending ...
... We argue that this result bears an important general lesson, regarding the importance of a “financial channel” in the international transmission mechanism. Specifically, the model economy emphasizes that, given the monetary and fiscal feedback rules in place, an increase in domestic government spending ...
World in 2050
... those relating to energy use and climate change. As our analysis shows, a ‘business as usual’ approach based on our GDP growth projections could see global warming of 6˚C or more in the long run, while the UN’s 2˚C objective seems increasingly out of reach given the lack of progress on decarbonisati ...
... those relating to energy use and climate change. As our analysis shows, a ‘business as usual’ approach based on our GDP growth projections could see global warming of 6˚C or more in the long run, while the UN’s 2˚C objective seems increasingly out of reach given the lack of progress on decarbonisati ...
The Coming U.S. Interest Rate Tightening Cycle: Smooth Sailing or
... Figure 16. Term premia and policy rate expectations ........................................................................................ 31 Figure 17. Market liquidity conditions ................................................................................................................... 3 ...
... Figure 16. Term premia and policy rate expectations ........................................................................................ 31 Figure 17. Market liquidity conditions ................................................................................................................... 3 ...
World in 2050
... those relating to energy use and climate change. As our analysis shows, a ‘business as usual’ approach based on our GDP growth projections could see global warming of 6˚C or more in the long run, while the UN’s 2˚C objective seems increasingly out of reach given the lack of progress on decarbonisati ...
... those relating to energy use and climate change. As our analysis shows, a ‘business as usual’ approach based on our GDP growth projections could see global warming of 6˚C or more in the long run, while the UN’s 2˚C objective seems increasingly out of reach given the lack of progress on decarbonisati ...
Forecasting growth in eastern Europe and central Asia
... 3.1 The rationale The previous two sections described short-term filters that produce efficient nowcasts and forecasts one or two quarters out. Beyond this horizon, we would expect forecasts to depend increasingly on expected developments in the external environment. Most of the EBRD region is deepl ...
... 3.1 The rationale The previous two sections described short-term filters that produce efficient nowcasts and forecasts one or two quarters out. Beyond this horizon, we would expect forecasts to depend increasingly on expected developments in the external environment. Most of the EBRD region is deepl ...
NBER WORKING PAPER SERIES Peter N. Ireland Working Paper 16420
... economy as a whole surely has generated action in the data that will be useful in extending macroeconomic theory going forward, three sets of considerations suggest that it would be premature to abandon existing models just yet. First, banking failures and liquidity dry-ups seldom occur as totally e ...
... economy as a whole surely has generated action in the data that will be useful in extending macroeconomic theory going forward, three sets of considerations suggest that it would be premature to abandon existing models just yet. First, banking failures and liquidity dry-ups seldom occur as totally e ...
Structural causes of the global financial crisis
... virtually all important financial institutions—including commercial and investment banks, hedge and private equity funds, insurance companies and mutual and pension funds—to take excessive risk when financial markets are buoyant.1 For example, the growth of mortgage securitisation generated fee inco ...
... virtually all important financial institutions—including commercial and investment banks, hedge and private equity funds, insurance companies and mutual and pension funds—to take excessive risk when financial markets are buoyant.1 For example, the growth of mortgage securitisation generated fee inco ...
Nouriel Roubini
Nouriel Roubini (born March 29, 1958) is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm.The child of Iranian Jews, he was born in Turkey and grew up in Italy. After receiving a BA in political economics at Bocconi University, Milan and a doctorate in international economics at Harvard University, he became an academic at Yale and a practising economist at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel. Much of his early research focused on emerging markets. During the administration of President Bill Clinton, he was a senior economist for the Council of Economic Advisers, later moving to the United States Treasury Department as a senior adviser to Timothy Geithner, who in 2009 became Treasury Secretary.