Government Spending Multipliers and the Zero Lower
... followed in 2007, the interest rate in the United States and in European countries, reached their lowest levels. Many signi cant budget plans emerged; the American Recovery and Reinvestment Act (ARRA) in the United States (831 billion from 2009 to 2019) and the European Economic Recovery Plan (EERP) ...
... followed in 2007, the interest rate in the United States and in European countries, reached their lowest levels. Many signi cant budget plans emerged; the American Recovery and Reinvestment Act (ARRA) in the United States (831 billion from 2009 to 2019) and the European Economic Recovery Plan (EERP) ...
Daily FX & Market Commentary Market Recap Oct 28, 2014
... This document is based on information provided by Citigroup Investment Research, Citigroup Global Markets, Citigroup Global Wealth Management and Citigroup Alternative Investments. It is provided for your information only. It is not intended as an offer or solicitation for the purchase or sale of an ...
... This document is based on information provided by Citigroup Investment Research, Citigroup Global Markets, Citigroup Global Wealth Management and Citigroup Alternative Investments. It is provided for your information only. It is not intended as an offer or solicitation for the purchase or sale of an ...
Exchange Rate Volatility on Investment and Growth in Nigeria, an
... ranging from volatility in real growth rates, price inflation, investment per capita and government revenues per capita to fluctuations in terms of trade and real exchange rate. There are numerous reasons why research into the effect of exchange rate volatility on investment inflows is important for ...
... ranging from volatility in real growth rates, price inflation, investment per capita and government revenues per capita to fluctuations in terms of trade and real exchange rate. There are numerous reasons why research into the effect of exchange rate volatility on investment inflows is important for ...
PDF
... This approach trades off the loss of power, which results from including unnecessary lags, against the bias that results from excluding necessary lags (Beaulieu and Miron 1993). We have also combined the Akaike Information Criterion (AIC), the Corrected Akaike Information Criterion (AICC), and the S ...
... This approach trades off the loss of power, which results from including unnecessary lags, against the bias that results from excluding necessary lags (Beaulieu and Miron 1993). We have also combined the Akaike Information Criterion (AIC), the Corrected Akaike Information Criterion (AICC), and the S ...
NBER WORKING PAPER SERIES MACROECONOMIC VOLATILITY IN LATIN AMERICA: Ricardo J. Caballero
... economy's pledgeable resources are greater than the needs of distressed firms, arbitrage keeps the mternal cost of funds L equal to the gross international interest rate (of one by assumption). All distressed firms are able to borrow funds, and only a fraction of domestic collateral A needs to be pl ...
... economy's pledgeable resources are greater than the needs of distressed firms, arbitrage keeps the mternal cost of funds L equal to the gross international interest rate (of one by assumption). All distressed firms are able to borrow funds, and only a fraction of domestic collateral A needs to be pl ...
New evidence on the puzzles: Results from agnostic identification
... to decreases in the domestic short-term interest rate, increases in the domestic price level and increases in the ratio of nonborrowed to total reserves during the first year following the shock. Hence, by construction our identification procedure avoids the price puzzle that is often implied by recur ...
... to decreases in the domestic short-term interest rate, increases in the domestic price level and increases in the ratio of nonborrowed to total reserves during the first year following the shock. Hence, by construction our identification procedure avoids the price puzzle that is often implied by recur ...
NBER WORKING PAPER SERIES THE LIBERALIZATION OF THE CURRENT CAPITAL ACCOUNTS AND
... In Section IV the effects of capital account liberalization on the equilibrium path of the real exchange rate are analyzed assuming that the relative ...
... In Section IV the effects of capital account liberalization on the equilibrium path of the real exchange rate are analyzed assuming that the relative ...
Economics of exchange rates and policy options
... that the price equals the marginal costs. The efficiency test implies that the real exchange rate is equal to the purchasing power parity. In macroeconomics, when the output growth serves as the dependent variable, the cross-section data show that education spending has a positive impact upon output ...
... that the price equals the marginal costs. The efficiency test implies that the real exchange rate is equal to the purchasing power parity. In macroeconomics, when the output growth serves as the dependent variable, the cross-section data show that education spending has a positive impact upon output ...
ECON 202: APPLIED INTERNATIONAL MACROECONOMICS
... In this course you will learn how to analyze economies around the world. That is, you will learn important conceptual frameworks and practice applying them: What can Europe do to rejuvenate its economy? Why worry about Europe’s deflation? Why is China allowing its exchange rate to move more flexibly ...
... In this course you will learn how to analyze economies around the world. That is, you will learn important conceptual frameworks and practice applying them: What can Europe do to rejuvenate its economy? Why worry about Europe’s deflation? Why is China allowing its exchange rate to move more flexibly ...
CHAPTER OVERVIEW
... B. Adam Smith observed in 1776 that specialization and trade increase the productivity of a nation’s resources. His observation related to the principle of absolute advantage whereby a country should buy goods from other countries if they can supply it cheaper than we can. C. The basic principle of ...
... B. Adam Smith observed in 1776 that specialization and trade increase the productivity of a nation’s resources. His observation related to the principle of absolute advantage whereby a country should buy goods from other countries if they can supply it cheaper than we can. C. The basic principle of ...
Local currency wire payment form
... and administration of payments and services. This information is required to process your application or claim. Your information may be used by the department or given to other parties for the purposes of research, investigation or where you have agreed or it is required or authorised by law. You ca ...
... and administration of payments and services. This information is required to process your application or claim. Your information may be used by the department or given to other parties for the purposes of research, investigation or where you have agreed or it is required or authorised by law. You ca ...
Exchange Rate Regimes of Developing Countries: Global Context
... anew the issue of appropriate exchange rate arrangements. In response to these developments, one popular view is that there should be a general move toward floating regimes. Another increasingly fashionable view is that countries should either let their exchange rates float freely, or peg them firml ...
... anew the issue of appropriate exchange rate arrangements. In response to these developments, one popular view is that there should be a general move toward floating regimes. Another increasingly fashionable view is that countries should either let their exchange rates float freely, or peg them firml ...
Welfare Effects of Commodity Price and Exchange Rate Volatilities
... Commodity output, which is either exported abroad or used as inputs in the production of tradable and non-tradable goods, is produced using capital, labour, and a natural resource factor. Commodity prices are exogenously set in world markets and denominated in foreign currency (the U.S. dollar). The ...
... Commodity output, which is either exported abroad or used as inputs in the production of tradable and non-tradable goods, is produced using capital, labour, and a natural resource factor. Commodity prices are exogenously set in world markets and denominated in foreign currency (the U.S. dollar). The ...
NBER WORKING PAPER SERIES HEDGING AND FINANCIAL EXCHANGE RATE REGIMES Martin Eichenbaum
... To this end, we study the connection between government guarantees to foreign lenders, banks' hedging strategies and the aggregate level of economic activity. We consider two types of risk associated with exchange rate devaluations. The first type arises when banks borrow foreign currency, say dolla ...
... To this end, we study the connection between government guarantees to foreign lenders, banks' hedging strategies and the aggregate level of economic activity. We consider two types of risk associated with exchange rate devaluations. The first type arises when banks borrow foreign currency, say dolla ...
Course Description
... will start at a basic level but will progress rapidly, so that the bulk of the analysis will be conducted at an intermediate to advanced level. The range of topics covered is also quite extensive. Suggested texts for private study are: (i) Principles of Economics by N. Gregory Mankiw (ii) Macroecono ...
... will start at a basic level but will progress rapidly, so that the bulk of the analysis will be conducted at an intermediate to advanced level. The range of topics covered is also quite extensive. Suggested texts for private study are: (i) Principles of Economics by N. Gregory Mankiw (ii) Macroecono ...
AEGON repays one third of government support
... Changes in the performance of financial markets, including emerging markets, such as with regard to: The frequency and severity of defaults by issuers in our fixed income investment portfolios; and The effects of corporate bankruptcies and/or accounting restatements on the financial markets and ...
... Changes in the performance of financial markets, including emerging markets, such as with regard to: The frequency and severity of defaults by issuers in our fixed income investment portfolios; and The effects of corporate bankruptcies and/or accounting restatements on the financial markets and ...
Questions For The Central Bank Of The Republic
... between tradable and non-tradable sectors to explain deviations in purchasing power parity. According to the B-S hypothesis, because productivity growth in tradable sectors is higher than in non-tradable sectors, real wages increase in tradable sectors. On the other hand, because the prices of trada ...
... between tradable and non-tradable sectors to explain deviations in purchasing power parity. According to the B-S hypothesis, because productivity growth in tradable sectors is higher than in non-tradable sectors, real wages increase in tradable sectors. On the other hand, because the prices of trada ...
centre for brazilian studies - Latin American Centre
... 12-month periods after the announcement of inflation targets. The study isolates the additional effect of the announcement of inflation targets on the level of expected inflation in the case of Australia, Canada, New Zealand, Sweden and the UK. Immediate reduction in expected inflation is registered ...
... 12-month periods after the announcement of inflation targets. The study isolates the additional effect of the announcement of inflation targets on the level of expected inflation in the case of Australia, Canada, New Zealand, Sweden and the UK. Immediate reduction in expected inflation is registered ...
http://are.berkeley.edu/~adelman/crisis.pdf
... loans held by its state banks is about 20%, the worst that can happen to China is slower overall growth and a currency devaluation. Of course, China is also inherently less vulnerable being a large country which is relatively closed. At the other extreme in financial development and liberalization, ...
... loans held by its state banks is about 20%, the worst that can happen to China is slower overall growth and a currency devaluation. Of course, China is also inherently less vulnerable being a large country which is relatively closed. At the other extreme in financial development and liberalization, ...
Poverty Reduction and the “Stabilisation Trap” – The Role
... may be symptomatic of demand deficiency leading to capacity underutilization…Targeting for a too-low inflation rate…can sometimes result in overkill. .. Yet another problem with pushing inflation too low is that it will make it difficult to bring about the large relative price changes that the struc ...
... may be symptomatic of demand deficiency leading to capacity underutilization…Targeting for a too-low inflation rate…can sometimes result in overkill. .. Yet another problem with pushing inflation too low is that it will make it difficult to bring about the large relative price changes that the struc ...
Chapter 2: Introduction to Exchange Rates and Foreign
... individuals, corporations, and some public institutions that buy and sell currencies. Volume is enormous: 2010 $4 trilion per day. US GDP? Highly integrated internationally: there is not a moment in the day when foreign exchange is not being traded somewhere in the world. Concentrated in major FOREX ...
... individuals, corporations, and some public institutions that buy and sell currencies. Volume is enormous: 2010 $4 trilion per day. US GDP? Highly integrated internationally: there is not a moment in the day when foreign exchange is not being traded somewhere in the world. Concentrated in major FOREX ...
CURRENCY BOARDS Steve H. Hanke and Kurt Schuler
... A sound currency serves as a satisfactory store of value, medium of exchange, and unit of account. An unsound currency such as the ruble does not fulfill any of those functions. An unsound currency is not a reliable store of value because inflation makes its value highly unpredictable. As a result, ...
... A sound currency serves as a satisfactory store of value, medium of exchange, and unit of account. An unsound currency such as the ruble does not fulfill any of those functions. An unsound currency is not a reliable store of value because inflation makes its value highly unpredictable. As a result, ...