Does inflation or currency depreciation drive monetary policy in
... – until as late as 4Q03. The immediate impact of devaluation is inflation, as many intermediate and final goods are imported. In the post-1998 period, the dilemma Russia has faced is high global oil prices improving fiscal balance, but generating serious problems for monetary and exchange rate polic ...
... – until as late as 4Q03. The immediate impact of devaluation is inflation, as many intermediate and final goods are imported. In the post-1998 period, the dilemma Russia has faced is high global oil prices improving fiscal balance, but generating serious problems for monetary and exchange rate polic ...
Gold standard, deflation and depression: The
... was a global event that should be dealt with in an international context; and second, comparative empirical treatment of 20 or 30 countries improves the likelihood of more accurately identifying causes and effects. Although the Great Depression was a defining event for Switzerland too, the number of ...
... was a global event that should be dealt with in an international context; and second, comparative empirical treatment of 20 or 30 countries improves the likelihood of more accurately identifying causes and effects. Although the Great Depression was a defining event for Switzerland too, the number of ...
Working Paper No. 2077 NATIONAL BUREAU OF ECONOMIC RESEARCH Cambridge, MA 02138
... countrys ability to meet its international obligations. Because the nature of the linkages among economies has varied across historical episodes, the requirements of external balance have varied as well. International finance studies the policies and market forces which may lead to external balance ...
... countrys ability to meet its international obligations. Because the nature of the linkages among economies has varied across historical episodes, the requirements of external balance have varied as well. International finance studies the policies and market forces which may lead to external balance ...
The Market for Foreign
... • A trade restriction increases net exports and increases the demand for dollars in the market for foreign-currency exchange. • As a result, the dollar appreciates in value, making domestic goods more expensive relative to foreign goods. • This appreciation offsets the initial impact of the trade re ...
... • A trade restriction increases net exports and increases the demand for dollars in the market for foreign-currency exchange. • As a result, the dollar appreciates in value, making domestic goods more expensive relative to foreign goods. • This appreciation offsets the initial impact of the trade re ...
Hong Kong Economic and Monetary Developments and Prospects
... stability. Business cycle synchronisation is higher between Hong Kong and the US than that between Hong Kong and the Mainland. The US dollar remains the most appropriate anchor for the Hong ...
... stability. Business cycle synchronisation is higher between Hong Kong and the US than that between Hong Kong and the Mainland. The US dollar remains the most appropriate anchor for the Hong ...
Form 1139A - Statement of Assets and Liabilities Position
... 2 fiscal years prior to the time of invitation to apply for the visa. You will therefore need to complete at least 1 and possibly 4 SALP statements for the Business Innovation stream. Applicants under the Investor Stream are required to provide 3 consecutive statements of their financial situation s ...
... 2 fiscal years prior to the time of invitation to apply for the visa. You will therefore need to complete at least 1 and possibly 4 SALP statements for the Business Innovation stream. Applicants under the Investor Stream are required to provide 3 consecutive statements of their financial situation s ...
Japanese yen and East-Asian currencies: before and after the Asian
... currencies are determined more freely in the market by supply and demand conditions. If the negligible role of the yen in the determination of the value of the East Asian currencies is the result of their explicit or implicit dollar-peg policy, the impact of the yen on their currencies after the cri ...
... currencies are determined more freely in the market by supply and demand conditions. If the negligible role of the yen in the determination of the value of the East Asian currencies is the result of their explicit or implicit dollar-peg policy, the impact of the yen on their currencies after the cri ...
DP2001/03 Would adopting the Australian dollar provide superior monetary policy in New Zealand?
... following section. The foreign economy, which may be thought of as Australia or the United States, has its own objective for monetary policy and meets that objective by controlling its own interest rates. Finally, the rest of the world is simply a source of shocks that impact on both New Zealand and ...
... following section. The foreign economy, which may be thought of as Australia or the United States, has its own objective for monetary policy and meets that objective by controlling its own interest rates. Finally, the rest of the world is simply a source of shocks that impact on both New Zealand and ...
II. History of international economic law
... policies toward FDI have also experienced various changes on their policy priorities.“ (Fung et al, Foreign Direct Investment in China: Policy, Trend ...
... policies toward FDI have also experienced various changes on their policy priorities.“ (Fung et al, Foreign Direct Investment in China: Policy, Trend ...
The Domestic and Global Impact of Japan’s Policies for Growth WP/05/209 Revised: 11/16/05
... For labor, we assume a low Frisch elasticity of 0.40 in the long run, coupled with lower habit persistence of 0.75. The elasticity of substitution between labor and capital is set at 0.75 in both the tradable and nontradable sectors. This is slightly lower than the conventional (Cobb-Douglas) unitar ...
... For labor, we assume a low Frisch elasticity of 0.40 in the long run, coupled with lower habit persistence of 0.75. The elasticity of substitution between labor and capital is set at 0.75 in both the tradable and nontradable sectors. This is slightly lower than the conventional (Cobb-Douglas) unitar ...
Transmission of the Great Depression
... in part by previous financial ease.2 The gold outflow was a prominent determinant of the policy change, even though it was tiny relative to the U.S. reserves. The Fed's primary aim in 1928 and 1929 was to curb speculation on the stock exchange while not depressing the economy. It failed on both coun ...
... in part by previous financial ease.2 The gold outflow was a prominent determinant of the policy change, even though it was tiny relative to the U.S. reserves. The Fed's primary aim in 1928 and 1929 was to curb speculation on the stock exchange while not depressing the economy. It failed on both coun ...
A r t i c l e s
... New Zealand producers compete with overseas producers in a number of different ways. To see this, it is helpful to distinguish between trade in commodities and trade in manufactured goods. Commodity products of a given type tend to be very similar to each other: for example, a Japanese paper company ...
... New Zealand producers compete with overseas producers in a number of different ways. To see this, it is helpful to distinguish between trade in commodities and trade in manufactured goods. Commodity products of a given type tend to be very similar to each other: for example, a Japanese paper company ...
HSBC to be among first market makers for direct
... HSBC China has received approval from China’s central bank to be one of first market makers for direct trading of the Renminbi (RMB) and Australian dollar (AUD) in China’s interbank foreign exchange market. HSBC will participate in the market upon the launch of RMB-AUD currency conversion deal on Ap ...
... HSBC China has received approval from China’s central bank to be one of first market makers for direct trading of the Renminbi (RMB) and Australian dollar (AUD) in China’s interbank foreign exchange market. HSBC will participate in the market upon the launch of RMB-AUD currency conversion deal on Ap ...
Chapter 16
... – Focuses on the factors that influence the value of a currency (in a floating exchange rate regime) in order to attempt to forecast future exchange rates with some reliability and accuracy ...
... – Focuses on the factors that influence the value of a currency (in a floating exchange rate regime) in order to attempt to forecast future exchange rates with some reliability and accuracy ...
Currency Boards
... is to buy and sell their own securities. The second option is to use secured lending which are short-term credit facilities offered against collateral. Both of these options can provide commercial banks access to temporary liquidity when it is needed. Most currency boards hold reserves in excess of ...
... is to buy and sell their own securities. The second option is to use secured lending which are short-term credit facilities offered against collateral. Both of these options can provide commercial banks access to temporary liquidity when it is needed. Most currency boards hold reserves in excess of ...
THE GLOBAL CAPITAL MARKET: BENEFACTOR OR MENACE? Maurice Obstfeld 6559
... exchange rate target must go. If fixed exchange rates and integration into the global capital market are the primary desiderata, monetary policy must be subjugated to those ends. The choice between fixed and floating exchange rates should not be viewed as dichotomous. In reality, the degree of excha ...
... exchange rate target must go. If fixed exchange rates and integration into the global capital market are the primary desiderata, monetary policy must be subjugated to those ends. The choice between fixed and floating exchange rates should not be viewed as dichotomous. In reality, the degree of excha ...
o Why was the Federal Reserve created
... Open-Market Operations: the Fed conducts open market operations when it buys or sells government bonds. To increase the money supply, the Fed instructs its bond traders at the New York Fed to buy bonds from the public in the nation’s bond markets. Reserve Requirements: The Fed also influences the mo ...
... Open-Market Operations: the Fed conducts open market operations when it buys or sells government bonds. To increase the money supply, the Fed instructs its bond traders at the New York Fed to buy bonds from the public in the nation’s bond markets. Reserve Requirements: The Fed also influences the mo ...
1a)Define redemption yield, spot rate and forward rate
... Company A requires fixed-rate investment; company B requires a floating-rate investment. Construct a swap that will net a bank, acting as intermediary, 0.2% per annum and will appear equally attractive to A and B. ...
... Company A requires fixed-rate investment; company B requires a floating-rate investment. Construct a swap that will net a bank, acting as intermediary, 0.2% per annum and will appear equally attractive to A and B. ...
Chapter 1: Introduction
... A third important reason to care about macroeconomics is that by working together we can improve the macroeconomy. You get to vote, one of the most precious rights human beings have ever had. In electing our government, we indirectly make macroeconomic policy. As we will see in the next section, the ...
... A third important reason to care about macroeconomics is that by working together we can improve the macroeconomy. You get to vote, one of the most precious rights human beings have ever had. In electing our government, we indirectly make macroeconomic policy. As we will see in the next section, the ...
Exchange Rates
... 12. The Budget Comparison Report provides a comparison of budget and fund availability in both USD and EURO. Its primary purpose is to determine the gain/loss of the outstanding contributions in USD terms due to changes in the Euro exchange rate. Since the purpose is to determine the gain/loss resul ...
... 12. The Budget Comparison Report provides a comparison of budget and fund availability in both USD and EURO. Its primary purpose is to determine the gain/loss of the outstanding contributions in USD terms due to changes in the Euro exchange rate. Since the purpose is to determine the gain/loss resul ...
Exchange rate, output and employment: revisiting the contractionary devaluation hypothesis Saúl Keifman
... typical instruments of the second kind of policies. An increase in the exchange rate (a currency devaluation) should improve the trade balance as long as the Marshall-Lerner conditions held. 3 In turn, if these conditions held, devaluation would have an expansionary effect on output and employment w ...
... typical instruments of the second kind of policies. An increase in the exchange rate (a currency devaluation) should improve the trade balance as long as the Marshall-Lerner conditions held. 3 In turn, if these conditions held, devaluation would have an expansionary effect on output and employment w ...
Substitution between domestic and foreign currency loans in Central
... Since the widespread introduction of inflation targeting strategies in many countries, the role of monetary and credit aggregates has substantially decreased. Money and credit are not treated as intermediate targets anymore and central banks, as well as analysts, pay much less attention to their deve ...
... Since the widespread introduction of inflation targeting strategies in many countries, the role of monetary and credit aggregates has substantially decreased. Money and credit are not treated as intermediate targets anymore and central banks, as well as analysts, pay much less attention to their deve ...
Response of Output to Macroeconomic Policies and Conditions in
... in the monetary policy regime from targeting monetary aggregates in 1990 to targeting inflation in 2005 and argued that the new monetary policy was inconsistent with the conditions of Romania’s economy. Kasman, Kirbas-Kasman, and Turgutlu (2008) found that there was monetary policy convergence betwe ...
... in the monetary policy regime from targeting monetary aggregates in 1990 to targeting inflation in 2005 and argued that the new monetary policy was inconsistent with the conditions of Romania’s economy. Kasman, Kirbas-Kasman, and Turgutlu (2008) found that there was monetary policy convergence betwe ...