An Introduction to International Money and Foreign Exchange Markets
... section 1.2. Not surprisingly, therefore, there are several solutions to the classification problem – defining the borderline between money and other financial assets. As a result of financial innovations, which have made it increasingly easy to use bank deposits as a means of payment, the policy em ...
... section 1.2. Not surprisingly, therefore, there are several solutions to the classification problem – defining the borderline between money and other financial assets. As a result of financial innovations, which have made it increasingly easy to use bank deposits as a means of payment, the policy em ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... The Primavera Plan allowed the government to realize a profit in the exchange operations. The proceeds from exports were obtained at a lower commercial exchange rate and were sold at a higher rate in the financial market. Table 5.2 shows that, during several months, the spread between the financial ...
... The Primavera Plan allowed the government to realize a profit in the exchange operations. The proceeds from exports were obtained at a lower commercial exchange rate and were sold at a higher rate in the financial market. Table 5.2 shows that, during several months, the spread between the financial ...
The euro-dollar exchange rate and Dutch imports and exports
... In the literature the following variables, which might influence the volume of imports and exports, often appear: GDP, import prices and export prices, domestic prices, world market prices and the exchange rate. The last variable can be put in the model as a nominal rate, or as real rate (nominal ra ...
... In the literature the following variables, which might influence the volume of imports and exports, often appear: GDP, import prices and export prices, domestic prices, world market prices and the exchange rate. The last variable can be put in the model as a nominal rate, or as real rate (nominal ra ...
The World Economy in the Twentieth Century
... for productive purposes over increasing numbers of economic agents and ever larger territories, thus contributing to the optimal use of capital and the maximization of world output. In addition to the international transfer of capital, international financial markets also facilitate the transfer of ...
... for productive purposes over increasing numbers of economic agents and ever larger territories, thus contributing to the optimal use of capital and the maximization of world output. In addition to the international transfer of capital, international financial markets also facilitate the transfer of ...
Chapter V
... for productive purposes over increasing numbers of economic agents and ever larger territories, thus contributing to the optimal use of capital and the maximization of world output. In addition to the international transfer of capital, international financial markets also facilitate the transfer of ...
... for productive purposes over increasing numbers of economic agents and ever larger territories, thus contributing to the optimal use of capital and the maximization of world output. In addition to the international transfer of capital, international financial markets also facilitate the transfer of ...
Redalyc.Non-Linear Multivariate Dependence between the Mexican
... Much research has been done to examine the relationship between the spot exchange rate and stock price in various economies. Most of the findings state that when the value of the local currency depreciates compared with major currencies, such as the dollar, euro or pound sterling, the local stock ma ...
... Much research has been done to examine the relationship between the spot exchange rate and stock price in various economies. Most of the findings state that when the value of the local currency depreciates compared with major currencies, such as the dollar, euro or pound sterling, the local stock ma ...
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... ill-equipped to explain, for example, the effects of macroeconomic policies on output and exchange rates, empirical practitioners and policymakers have not yet been persuaded to abandon traditional aggregative Keynesian models. While the time-tested appeal of those models is undeniable, their lack o ...
... ill-equipped to explain, for example, the effects of macroeconomic policies on output and exchange rates, empirical practitioners and policymakers have not yet been persuaded to abandon traditional aggregative Keynesian models. While the time-tested appeal of those models is undeniable, their lack o ...
Exchange Control in Italy and Bulgaria in the Interwar Period
... balance their foreign trade within the group, the emergence of isolated blocs resulted in a contraction in the amount of world trade. ...
... balance their foreign trade within the group, the emergence of isolated blocs resulted in a contraction in the amount of world trade. ...
That Chinese “juggernaut” – should Europe really worry
... This simple observation is a fly in the ointment for people linking Europe’s deficit with China to the currency. Beyond this basic fact, there are also other trade structures to pay attention to. In particular we need to gain a better understanding of what portion of China’s exports to Europe repres ...
... This simple observation is a fly in the ointment for people linking Europe’s deficit with China to the currency. Beyond this basic fact, there are also other trade structures to pay attention to. In particular we need to gain a better understanding of what portion of China’s exports to Europe repres ...
Exchange Rate Forecasting, Order Flow and Macroeconomic
... The feeble link between exchange rates and fundamentals, in the short, medium, and to a certain extent the long run, has given rise to ‘the exchange rate disconnect’puzzle (Obstfeld and Rogo¤, 2000). The Meese and Rogo¤ (1983) results on exchange rate forecasting using macroeconomic models, that …rs ...
... The feeble link between exchange rates and fundamentals, in the short, medium, and to a certain extent the long run, has given rise to ‘the exchange rate disconnect’puzzle (Obstfeld and Rogo¤, 2000). The Meese and Rogo¤ (1983) results on exchange rate forecasting using macroeconomic models, that …rs ...
Determinants of Currency Risk Premiums
... As shown in Table 1A, when equation (2) is estimated using OLS the 15 estimated values of ψ s are consistently negative and greater than unity in absolute value. With two exceptions, all the estimates are significant at the 5 percent level. Frankel and Chinn (1991) note that OLS estimates can likely ...
... As shown in Table 1A, when equation (2) is estimated using OLS the 15 estimated values of ψ s are consistently negative and greater than unity in absolute value. With two exceptions, all the estimates are significant at the 5 percent level. Frankel and Chinn (1991) note that OLS estimates can likely ...
On the Rand: Determinants of the South African Exchange Rate
... be (to pick two floaters)? That is, is it a currency that appreciates when prices of the mineral products that it produces are strong on world markets and depreciates when they are weak? In other respects, does the rand behave like currencies of industrialized countries, in light of its developed ...
... be (to pick two floaters)? That is, is it a currency that appreciates when prices of the mineral products that it produces are strong on world markets and depreciates when they are weak? In other respects, does the rand behave like currencies of industrialized countries, in light of its developed ...
I. Global Financial Market as a part of Global Financial System
... A. Capital market includes trading in securities, mutual fund units and government debt instruments. On the other hand money market facilitates dealings in shortterm financial instruments such as inter-corporate deposits, certificate of deposits, treasury bonds, commercial papers, commercial bills, ...
... A. Capital market includes trading in securities, mutual fund units and government debt instruments. On the other hand money market facilitates dealings in shortterm financial instruments such as inter-corporate deposits, certificate of deposits, treasury bonds, commercial papers, commercial bills, ...
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... prices of tradable goods will not be tied firmly to the world market and changes in P/Pn may not reflect changes in e.p*/p accurately (Harberger, 1986, pp. 387-94; Balassa, 1987, pp. 2-3; Edwards, 1987, Appendix 1). Similarly, if there is no clear distinction between tradable and non-tradable goods ...
... prices of tradable goods will not be tied firmly to the world market and changes in P/Pn may not reflect changes in e.p*/p accurately (Harberger, 1986, pp. 387-94; Balassa, 1987, pp. 2-3; Edwards, 1987, Appendix 1). Similarly, if there is no clear distinction between tradable and non-tradable goods ...
NBER WORKING PAPER SERIES DYNAMIC STRATEGIC MONETARY POLICIES AND COORDINATION IN INTERDEPENDENT ECONOMIES
... assume that 1 — d1 — d21'> 0, implying that the IS curve of the aggregate world economy is ...
... assume that 1 — d1 — d21'> 0, implying that the IS curve of the aggregate world economy is ...
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... potentially vulnerable situation for the countries discussed above.8 These countries have current account deficits and are financing them through inflows of foreign capital, as will be discussed in more detail in Section 3.4.9 Experiences from other emerging economies suggest that such capital inflo ...
... potentially vulnerable situation for the countries discussed above.8 These countries have current account deficits and are financing them through inflows of foreign capital, as will be discussed in more detail in Section 3.4.9 Experiences from other emerging economies suggest that such capital inflo ...
Expectations, Real Exchange Rates, and Monetary Policy Michael B. Devereux Charles Engel UBC
... In particular, we do not assume any distortions in asset markets. For example, Bernanke and Gertler (1999, 2001) examine models in which there are credit market frictions (costly monitoring of borrowers) and a non-fundamental component to equity prices. In our models, these frictions do not appear. ...
... In particular, we do not assume any distortions in asset markets. For example, Bernanke and Gertler (1999, 2001) examine models in which there are credit market frictions (costly monitoring of borrowers) and a non-fundamental component to equity prices. In our models, these frictions do not appear. ...
Interbank lending rates and monetary policy in China
... http://www.reuters.com/article/2014/03/20/us-china-foreigninvestment-stocks-idUSBREA2J02F20140320 (accessed on March 20, 2014). ...
... http://www.reuters.com/article/2014/03/20/us-china-foreigninvestment-stocks-idUSBREA2J02F20140320 (accessed on March 20, 2014). ...
The Role of Monetary Policy during the Global Financial Crisis
... and estimate a dynamic stochastic general equilibrium (DSGE) model of the Turkish economy. The model, which is discussed in detail in Section 3, builds upon the literature and incorporates various features improving its ability to capture important dynamics of emerging markets—we choose the Turkish ...
... and estimate a dynamic stochastic general equilibrium (DSGE) model of the Turkish economy. The model, which is discussed in detail in Section 3, builds upon the literature and incorporates various features improving its ability to capture important dynamics of emerging markets—we choose the Turkish ...
Macroeconomics CHAPTER 6 Macroeconomics: The Big Picture
... goods, services, and assets across national boundaries. ...
... goods, services, and assets across national boundaries. ...
Data Access and Exchange Policy
... Services add a new level of complexity to managing data access. The new opportunities for data access join existing means of data exchange to create a variety of approaches. These in turn create new multilayered data supply and access relationships among partners. ...
... Services add a new level of complexity to managing data access. The new opportunities for data access join existing means of data exchange to create a variety of approaches. These in turn create new multilayered data supply and access relationships among partners. ...
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... We insist in this paper that, in an open economy, the U.S. dollar movements have been important role in explaining the long-term movements of relative agricultural price because the changes can cause different degrees of supply shock on different industry sectors. In fact, under the assumption of we ...
... We insist in this paper that, in an open economy, the U.S. dollar movements have been important role in explaining the long-term movements of relative agricultural price because the changes can cause different degrees of supply shock on different industry sectors. In fact, under the assumption of we ...