Ten Years After: Revisiting the Asian Financial Crisis
... the recipient economy, particularly when the local currency is convertible. Short-term capital inflows, in particular, are inherently volatile in a world of free capital mobility, and can trigger losses in investor confidence that can result in large losses in foreign reserves and currency depreciat ...
... the recipient economy, particularly when the local currency is convertible. Short-term capital inflows, in particular, are inherently volatile in a world of free capital mobility, and can trigger losses in investor confidence that can result in large losses in foreign reserves and currency depreciat ...
ECONOMICS AN AUSTRALIAN CONTRIBUTION TO
... would be restored, or, as he put it, how the loan would be transferred ‘in the form of goods’ (Wilson 1931, p. 55). His terminology is reflective of the period, but in modern parlance he is asking how, in the case of the borrower, a capital account surplus is matched by an offsetting current account ...
... would be restored, or, as he put it, how the loan would be transferred ‘in the form of goods’ (Wilson 1931, p. 55). His terminology is reflective of the period, but in modern parlance he is asking how, in the case of the borrower, a capital account surplus is matched by an offsetting current account ...
Is the International Diversification Potential
... form of outright brokerage type costs or more subtle information costs.4 On the other hand, critics have argued that transactions costs cannot be very high for stocks of foreign companies that trade in the United States on exchanges.5 Furthermore, Errunza et al (1999) argue that domestically traded ...
... form of outright brokerage type costs or more subtle information costs.4 On the other hand, critics have argued that transactions costs cannot be very high for stocks of foreign companies that trade in the United States on exchanges.5 Furthermore, Errunza et al (1999) argue that domestically traded ...
FREE Sample Here
... Answer: In deciding where to locate a manufacturing base, costs of production will be determined in part by the prevailing foreign exchange rate for the country's currency. Exchange rates can be volatile and many companies pursue global sourcing strategies from a "portfolio" of countries and in a ra ...
... Answer: In deciding where to locate a manufacturing base, costs of production will be determined in part by the prevailing foreign exchange rate for the country's currency. Exchange rates can be volatile and many companies pursue global sourcing strategies from a "portfolio" of countries and in a ra ...
SHORT-RUN FLUCTUATIONS David Romer University of California
... curve. Thus the real interest rate and output both fall. Shifts in consumer confidence are an important source of short-run fluctuations. To give one example, Iraq’s invasion of Kuwait and other developments caused a sharp fall in consumer confidence in the United States in the summer of 1990. This ...
... curve. Thus the real interest rate and output both fall. Shifts in consumer confidence are an important source of short-run fluctuations. To give one example, Iraq’s invasion of Kuwait and other developments caused a sharp fall in consumer confidence in the United States in the summer of 1990. This ...
announcement proposed private placement of a shares
... shares through the Rights Issue in 2011, The Bank issued 7,753,982,980 among which, 5,273,622,484 shares are ordinary shares through the Rights domestic-listed shares and 2,480,360,496 Issue in 2011, among which, shares are foreign-listed shares. 5,273,622,484 shares are domesticlisted shares and 2, ...
... shares through the Rights Issue in 2011, The Bank issued 7,753,982,980 among which, 5,273,622,484 shares are ordinary shares through the Rights domestic-listed shares and 2,480,360,496 Issue in 2011, among which, shares are foreign-listed shares. 5,273,622,484 shares are domesticlisted shares and 2, ...
People`s Republic of China—Hong Kong Special Administrative
... increase with the Fed liftoff. Generally, favorable spillovers from Mainland China thus far may also turn more challenging going forward with the ongoing transition to slower, but more sustainable, growth in the Mainland. The domestic property sector has experienced a renewed run-up in prices since ...
... increase with the Fed liftoff. Generally, favorable spillovers from Mainland China thus far may also turn more challenging going forward with the ongoing transition to slower, but more sustainable, growth in the Mainland. The domestic property sector has experienced a renewed run-up in prices since ...
A Journey to Inflation Targeting: Easier Said than Done
... Most central banks around the world are targeting inflation. Yet, for a number of countries the central bank is not in a position to rely on conventional inflation targeting to achieve its objectives. This is most notably the case in frontier countries faced with implementation constraints or a weak ...
... Most central banks around the world are targeting inflation. Yet, for a number of countries the central bank is not in a position to rely on conventional inflation targeting to achieve its objectives. This is most notably the case in frontier countries faced with implementation constraints or a weak ...
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... Our study focuses on three related questions: First, given that a country is already facing a severe currency crisis, does participation in an IMF-supported stabilization program tend to make real GDP growth weaker? Second, can one identify the channels (policy instruments) through which participati ...
... Our study focuses on three related questions: First, given that a country is already facing a severe currency crisis, does participation in an IMF-supported stabilization program tend to make real GDP growth weaker? Second, can one identify the channels (policy instruments) through which participati ...
Interpretation of Macroeconomic Results From A CGE Model Such
... stylised model to explain the outcomes for factor quantities and for real factor prices. From these, explanations normally follow for the major components of real GDP from the income and expenditure sides, and for other macroeconomic variables such as the real exchange rate, the GDP deflator and the ...
... stylised model to explain the outcomes for factor quantities and for real factor prices. From these, explanations normally follow for the major components of real GDP from the income and expenditure sides, and for other macroeconomic variables such as the real exchange rate, the GDP deflator and the ...
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... balance. Here we use the weighted average of the foreign exchange value of the CNY, which is based on the value of CNY compared to the currencies of major China trading partners of soybeans, which are U.S. (Dollar), Brazil(Brazil) and Argentian (Peso). Here we include percentage changes in "Industri ...
... balance. Here we use the weighted average of the foreign exchange value of the CNY, which is based on the value of CNY compared to the currencies of major China trading partners of soybeans, which are U.S. (Dollar), Brazil(Brazil) and Argentian (Peso). Here we include percentage changes in "Industri ...
The Politics of Monetary Leadership and
... elsewhere.6 But what are the politics and economics of the new EMS with its informal narrow bands and exchange-rate stability? This article is an attempt to understand and explain not the early death of the EMS, but rather its continuing and curious life. This continuity raises a theoretical and emp ...
... elsewhere.6 But what are the politics and economics of the new EMS with its informal narrow bands and exchange-rate stability? This article is an attempt to understand and explain not the early death of the EMS, but rather its continuing and curious life. This continuity raises a theoretical and emp ...
strategic motivations of australian and new zealand
... force of globalisation. The interest in specific host countries has been stimulated by both the increase of international FDI flows and their significance as a critical aspect of economic growth and employment creation in emerging economies. In the last few years, there has been such tremendous grow ...
... force of globalisation. The interest in specific host countries has been stimulated by both the increase of international FDI flows and their significance as a critical aspect of economic growth and employment creation in emerging economies. In the last few years, there has been such tremendous grow ...
Central, Eastern, and Southeastern Europe Regional
... inflation outlook in CEE and SEE. Persistently lower prices and economic slack increase the risk of second-round effects through lower wages, which could entrench deflation pressure. Despite many differences, in most CESEE countries private investment and growth remain below precrisis levels. This r ...
... inflation outlook in CEE and SEE. Persistently lower prices and economic slack increase the risk of second-round effects through lower wages, which could entrench deflation pressure. Despite many differences, in most CESEE countries private investment and growth remain below precrisis levels. This r ...
Distribution Costs and Real Exchange Rate Dynamics
... The standard model used to study exchange-rate-based stabilization features two types of goods: tradables and non-tradables. Purchasing power parity (PPP) is assumed to hold only for the tradable good. As a result all RER movements are associated with changes in the relative price of non-tradable go ...
... The standard model used to study exchange-rate-based stabilization features two types of goods: tradables and non-tradables. Purchasing power parity (PPP) is assumed to hold only for the tradable good. As a result all RER movements are associated with changes in the relative price of non-tradable go ...
The Anatomy of Large Valuation Episodes Agustín Bénétrix Trinity College Dublin
... We find that the degree of international financial integration matters for large valuation episodes since the impact of return differentials between assets and liabilities is enlarged. For emerging markets and developing countries, we find that valuation episodes were triggered by sizeable net posit ...
... We find that the degree of international financial integration matters for large valuation episodes since the impact of return differentials between assets and liabilities is enlarged. For emerging markets and developing countries, we find that valuation episodes were triggered by sizeable net posit ...
NBER WORKING PAPER SERIES THE U.S. CURRENT ACCOUNT DEFICIT Charles Engel
... the price of U.S. traded goods to fall relative to the price of foreign-produced traded goods. This is simply a supply effect. But this works toward a decline in the U.S. consumer price level relative to the rest of the world (a real depreciation) because of the home bias in consumption of tradable ...
... the price of U.S. traded goods to fall relative to the price of foreign-produced traded goods. This is simply a supply effect. But this works toward a decline in the U.S. consumer price level relative to the rest of the world (a real depreciation) because of the home bias in consumption of tradable ...
The Fund`s Legal Instruments to Promote Financial Stability
... 29. A particularly important component of the Fund’s TA activities in the financial sector concerns the Financial Sector Assessment or “FSAP” Program. This is a program that is administered jointly by the Fund and the World Bank. It was launched in 1999, partly in response to the Asian crisis and to ...
... 29. A particularly important component of the Fund’s TA activities in the financial sector concerns the Financial Sector Assessment or “FSAP” Program. This is a program that is administered jointly by the Fund and the World Bank. It was launched in 1999, partly in response to the Asian crisis and to ...
McGraw Hill Higher Education - McGraw
... In contrast to U.S., net income is less a measure of performance and seen more as funds available for dividends Since providers of financing tend to be close to the firm, there has historically been little pressure for disclosure Lack of disclosure is apparent in segment reporting 2007 Tokyo ...
... In contrast to U.S., net income is less a measure of performance and seen more as funds available for dividends Since providers of financing tend to be close to the firm, there has historically been little pressure for disclosure Lack of disclosure is apparent in segment reporting 2007 Tokyo ...
The U.S. current account deficit: Gradual correction or abrupt adjustment? Sebastian Edwards ∗
... New Zealand, Norway and Portugal. What is even more striking is that very few countries – either industrial or emerging – have had persistently high current account deficits for more than 5 years ...
... New Zealand, Norway and Portugal. What is even more striking is that very few countries – either industrial or emerging – have had persistently high current account deficits for more than 5 years ...
International Monetary Review
... Given the seriousness of the debt problems facing some of the developed economies, many developing countries have already faced a fall in exports, experienced speculative capital flows replacing more stable FDI, and Trade Financing choking up. The faltering prospects for export-oriented countries th ...
... Given the seriousness of the debt problems facing some of the developed economies, many developing countries have already faced a fall in exports, experienced speculative capital flows replacing more stable FDI, and Trade Financing choking up. The faltering prospects for export-oriented countries th ...
THE SEC AND FOREIGN COMPANIES—A BALANCE OF
... in the offering context contrasted sharply with the trading-market context where both (1) registration and annual reporting forms governing foreign issuers required “substantially less information” than their domestic counterparts,6 and (2) upon extending 1934 Act reporting requirements to firms tra ...
... in the offering context contrasted sharply with the trading-market context where both (1) registration and annual reporting forms governing foreign issuers required “substantially less information” than their domestic counterparts,6 and (2) upon extending 1934 Act reporting requirements to firms tra ...
What are the Sources of Current Account Fluctuations in the G6
... acquired an even more important role because of the existence of large and persistent global imbalances.1 The current financial crisis has been associated with the unfolding of these imbalances, a concern that was already reflected in IMF (2004) who claim that one of the main risks for the global ec ...
... acquired an even more important role because of the existence of large and persistent global imbalances.1 The current financial crisis has been associated with the unfolding of these imbalances, a concern that was already reflected in IMF (2004) who claim that one of the main risks for the global ec ...
Multilateral Aspects of Managing the Capital Account
... The financial crisis has again brought home the profound financial linkages across countries, often manifest in highly volatile capital flows. This volatility has prompted interest in multilateral principles to guide policies in both source and recipient countries. This note discusses the analytical ...
... The financial crisis has again brought home the profound financial linkages across countries, often manifest in highly volatile capital flows. This volatility has prompted interest in multilateral principles to guide policies in both source and recipient countries. This note discusses the analytical ...