China as a Trading Superpower
... countervailing investigations since 2008 have been targeted at Chinese products (see Figure 3). Second, China’s trade has long been structurally unbalanced, with overreliance on exports from traditional low skilled, low technology, and resource and labour-intensive industries. These industries are b ...
... countervailing investigations since 2008 have been targeted at Chinese products (see Figure 3). Second, China’s trade has long been structurally unbalanced, with overreliance on exports from traditional low skilled, low technology, and resource and labour-intensive industries. These industries are b ...
DP2006/09 Uncovering the Hit-list for Small Inflation Targeters: A Bayesian Structural Analysis
... to the constraints that limit their choices. Rather surprisingly, central bank behavior is often described as a reduced-form monetary policy rule. One reason for the widespread use of ad hoc reduced-form policy rules is that they provide good empirical fit. For example, the Taylor rule has provided ...
... to the constraints that limit their choices. Rather surprisingly, central bank behavior is often described as a reduced-form monetary policy rule. One reason for the widespread use of ad hoc reduced-form policy rules is that they provide good empirical fit. For example, the Taylor rule has provided ...
Preview Sample 1
... revaluation as a result of actions taken by a country’s central banker. Currency trading by international speculators can also lead to devaluation. When a country’s economy is strong or when demand for its goods is high, its currency tends to appreciate in value. When currency values fluctuate, glo ...
... revaluation as a result of actions taken by a country’s central banker. Currency trading by international speculators can also lead to devaluation. When a country’s economy is strong or when demand for its goods is high, its currency tends to appreciate in value. When currency values fluctuate, glo ...
NBER WORKING PAPER SERIES SELF-VALIDATING OPTIMUM CURRENCY AREAS Giancarlo Corsetti Paolo Pesenti
... exporters could in principle choose any intermediate level of pass-through, in equilibrium pass-through is either 100 percent or zero as producers optimally choose ‘corner’ pricing strategies to prevent their markups from being affected by exchange rate fluctuations.2 There is one equilibrium in whi ...
... exporters could in principle choose any intermediate level of pass-through, in equilibrium pass-through is either 100 percent or zero as producers optimally choose ‘corner’ pricing strategies to prevent their markups from being affected by exchange rate fluctuations.2 There is one equilibrium in whi ...
Class 17 Lecture notes (to be posted after class)
... – El Salvador – Haiti – Honduras – Jordan • >5% of GDP for 42 countries in 2004. • Global flows: $318 billion in 2007 • > other important external financial sources (ODA, bank lending, private investment) ...
... – El Salvador – Haiti – Honduras – Jordan • >5% of GDP for 42 countries in 2004. • Global flows: $318 billion in 2007 • > other important external financial sources (ODA, bank lending, private investment) ...
- Grifols
... Barcelona, 7 October 2009.- Grifols, a Spanish holding company specializing in the pharmaceutical-hospital industry and one of the world's leading producers of plasma derivatives, has completed its first private corporate bond issue in the US, in the amount of 600 MM dollars (410 MM euros). Demand f ...
... Barcelona, 7 October 2009.- Grifols, a Spanish holding company specializing in the pharmaceutical-hospital industry and one of the world's leading producers of plasma derivatives, has completed its first private corporate bond issue in the US, in the amount of 600 MM dollars (410 MM euros). Demand f ...
NBER WORKING PAPER SERIES DEBT AND MACROECONOMIC INSTABILITY Rudiger Dornbusch
... From Martinez de Hoz to Alfonsin (3/81—12/83): The end of the military government did not come easy. The Martinez de Hoz overvaluation had sown the seeds of financial destruction, but the actual unraveling came only over the next four years. The world economy contributed to the difficulties by the d ...
... From Martinez de Hoz to Alfonsin (3/81—12/83): The end of the military government did not come easy. The Martinez de Hoz overvaluation had sown the seeds of financial destruction, but the actual unraveling came only over the next four years. The world economy contributed to the difficulties by the d ...
Mankiw 5/e Chapter 5: The Open Economy
... real: the price of a country’s goods in terms of another country’s goods. The real exchange rate equals the nominal rate times the ratio of prices of the two countries. ...
... real: the price of a country’s goods in terms of another country’s goods. The real exchange rate equals the nominal rate times the ratio of prices of the two countries. ...
dealing with foreign exchange
... probability of financial distress, lessens sovereign default risk and lowers real exchange rate volatility, inter alia. However, these benefits have to be weighed with costs of holding reserves. When a central bank receives excess capital flows such as remittances they could potentially destabilise ...
... probability of financial distress, lessens sovereign default risk and lowers real exchange rate volatility, inter alia. However, these benefits have to be weighed with costs of holding reserves. When a central bank receives excess capital flows such as remittances they could potentially destabilise ...
PDF
... The volume of U S farm exports contmues below lts 1980 peak Thls lS one of the major problems plagu mg agrlculture Lower exports contrIbuted m the elghtles to lower mcomes, financlal stress, and reduced values of land and other farm assets AgI l culture may not recover until farm exports plck up T ...
... The volume of U S farm exports contmues below lts 1980 peak Thls lS one of the major problems plagu mg agrlculture Lower exports contrIbuted m the elghtles to lower mcomes, financlal stress, and reduced values of land and other farm assets AgI l culture may not recover until farm exports plck up T ...
NBER WORKING PAPER SERIES MONOPOLISTIC COMPETITION AND DEVIATIONS FROM PPP Joshua Aizenman
... intermediate— run changes in the real exchange rate. Attempts to explain exchange rate movements have had limited and questionable success.3 Only in countries with systematic large discrepancies in monetary expansion rates does one find a tight relationship between exchange rate movements and the di ...
... intermediate— run changes in the real exchange rate. Attempts to explain exchange rate movements have had limited and questionable success.3 Only in countries with systematic large discrepancies in monetary expansion rates does one find a tight relationship between exchange rate movements and the di ...
Ho(313).pdf
... With the obvious failure PPP to hold in the short run and years of high exchange rate volatility in the world, it seems that the theory of PPP had failed to hold during the 1970s and 1980s.iii The apparent lack of evidence on PPP under the current floating regimes in several countries particularly a ...
... With the obvious failure PPP to hold in the short run and years of high exchange rate volatility in the world, it seems that the theory of PPP had failed to hold during the 1970s and 1980s.iii The apparent lack of evidence on PPP under the current floating regimes in several countries particularly a ...
On the Link between Dollarization and Inflation: Evidence
... dollarization owing to the high elasticity of substitution between domestic and foreign currency. The remainder of the paper is organized as follows. Section 2 provides a brief description of the main macroeconomic and institutional factors affecting the dollarization process in Turkey. Section 3 di ...
... dollarization owing to the high elasticity of substitution between domestic and foreign currency. The remainder of the paper is organized as follows. Section 2 provides a brief description of the main macroeconomic and institutional factors affecting the dollarization process in Turkey. Section 3 di ...
Кредитный Value-at-Risk
... Effective infrastructure and financial intermediation International financial center: Focus on the foreign capital, investors and intermediaries Transnational operations: fund raising, asset management, risk management, tax management, exchange trading, project financing (e.g., for PPP) ...
... Effective infrastructure and financial intermediation International financial center: Focus on the foreign capital, investors and intermediaries Transnational operations: fund raising, asset management, risk management, tax management, exchange trading, project financing (e.g., for PPP) ...
On the Link between Dollarization and Inflation: Evidence from Turkey* by
... dollarization owing to the high elasticity of substitution between domestic and foreign currency. The remainder of the paper is organized as follows. Section 2 provides a brief description of the main macroeconomic and institutional factors affecting the dollarization process in Turkey. Section 3 di ...
... dollarization owing to the high elasticity of substitution between domestic and foreign currency. The remainder of the paper is organized as follows. Section 2 provides a brief description of the main macroeconomic and institutional factors affecting the dollarization process in Turkey. Section 3 di ...
PDF
... The real exchange rate equation (Table 5) provides consistent results for Kenya, except for PGDP. However, the results of the second equation provide a better fit for Kenya. As a result of its pegged exchange rate with the French franc, it is possible that the level of real output and prices of trad ...
... The real exchange rate equation (Table 5) provides consistent results for Kenya, except for PGDP. However, the results of the second equation provide a better fit for Kenya. As a result of its pegged exchange rate with the French franc, it is possible that the level of real output and prices of trad ...
Desafios para a Política Monetária: O Brasil e o Contexto Internacional
... India, would contribute to keep global inflation permanently under control. Thanks to cheap labor and the intensive use of new technologies on the production process, China - and to a lesser extent India - exported deflation, or at least disinflation, to the world economy through a consistent decrea ...
... India, would contribute to keep global inflation permanently under control. Thanks to cheap labor and the intensive use of new technologies on the production process, China - and to a lesser extent India - exported deflation, or at least disinflation, to the world economy through a consistent decrea ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Exchange Rates and International Macroeconomics
... real interest differentials to vanish?" The latter question is addressed through several comparisons of nominal interest rate term structures and measures of inflation expectations. Isard presents data which suggest that the adjustment lasts between two and five years. Based on this evidence, he rec ...
... real interest differentials to vanish?" The latter question is addressed through several comparisons of nominal interest rate term structures and measures of inflation expectations. Isard presents data which suggest that the adjustment lasts between two and five years. Based on this evidence, he rec ...
Zilio - Andrew Young School of Policy Studies
... Sales, Retail Sales, Industrial Production, ISM, International Trade, Personal Income and Consumption). • Examined European and Asian economic indicators such as GDP, interest rates, exchange rates, as well as financial indices (Dow 30, S&P 500, Nikkei and FTSE 100) using Bloomberg, Reuters, DataStr ...
... Sales, Retail Sales, Industrial Production, ISM, International Trade, Personal Income and Consumption). • Examined European and Asian economic indicators such as GDP, interest rates, exchange rates, as well as financial indices (Dow 30, S&P 500, Nikkei and FTSE 100) using Bloomberg, Reuters, DataStr ...
Document
... Motivation • Since the early 1980s, long-term government bond yields in the euro zone have declined, in line with those in other industrialized countries • By the time the euro was introduced in January 1999, bond yields across the euro zone countries had largely converged to that of Germany (the e ...
... Motivation • Since the early 1980s, long-term government bond yields in the euro zone have declined, in line with those in other industrialized countries • By the time the euro was introduced in January 1999, bond yields across the euro zone countries had largely converged to that of Germany (the e ...
View/Open
... The Australian dollar was also the `victim' of what might be termed proxy selling. With market perceptions about Australia's economic fortunes being tied to emerging Asia, this exaggeration o¡set the overly optimistic early forecasts for Asian growth. Australia remained a liquid foreign exchange mar ...
... The Australian dollar was also the `victim' of what might be termed proxy selling. With market perceptions about Australia's economic fortunes being tied to emerging Asia, this exaggeration o¡set the overly optimistic early forecasts for Asian growth. Australia remained a liquid foreign exchange mar ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... 7%, and then enters into a swap to convert the dollar loan into INR. The counterparty of the swap may likely be an Indian company (Party B) that requires $2 million in U.S. funds. Likewise, the Indian company will be able to attain a cheaper borrowing rate domestically than abroad – let's say that t ...
... 7%, and then enters into a swap to convert the dollar loan into INR. The counterparty of the swap may likely be an Indian company (Party B) that requires $2 million in U.S. funds. Likewise, the Indian company will be able to attain a cheaper borrowing rate domestically than abroad – let's say that t ...
Pitchbook US template - the International Trade Center
... extended payment periods b. Protect the company against non-payment by a foreign customer or in the case of non-payment due to political risk ...
... extended payment periods b. Protect the company against non-payment by a foreign customer or in the case of non-payment due to political risk ...