Stylized facts of exchange-rate based stabilization - unu
... understood as the mechanism by which the additional burden on the economy is distributed to different income groups, the so-called inflation tax. Sooner or later these groups—especially if they are backed by politically powerful organizations—will succeed in indexing their nominal incomes to the rat ...
... understood as the mechanism by which the additional burden on the economy is distributed to different income groups, the so-called inflation tax. Sooner or later these groups—especially if they are backed by politically powerful organizations—will succeed in indexing their nominal incomes to the rat ...
Maastricht criteria - Graduate Institute of International and
... of price stability is to be gained by sustained experience with price stability: low inflation, of course, but also low long-term interest rates, which incorporate inflation expectations and a stable exchange rate, which reflects both past and future price stability. The risk of political pressure i ...
... of price stability is to be gained by sustained experience with price stability: low inflation, of course, but also low long-term interest rates, which incorporate inflation expectations and a stable exchange rate, which reflects both past and future price stability. The risk of political pressure i ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... This assumes that the higher costs of production arising from the devaluation, such as increased domestic prices for imported inputs, do not offset the rise in export revenues. So when an economy attempts to attain both internal and external balance, expenditure switching policy alone is insufficien ...
... This assumes that the higher costs of production arising from the devaluation, such as increased domestic prices for imported inputs, do not offset the rise in export revenues. So when an economy attempts to attain both internal and external balance, expenditure switching policy alone is insufficien ...
here - Canvas
... are drawn to less expensive European goods) OR a decrease in supply of the Euro (appreciation of Euro as Europeans import less of higher priced (inflated) American goods). • Bottom line: any time one currency's demand shifts, the other currency's supply graph shifts IN THE SAME DIRECTION. Teaching t ...
... are drawn to less expensive European goods) OR a decrease in supply of the Euro (appreciation of Euro as Europeans import less of higher priced (inflated) American goods). • Bottom line: any time one currency's demand shifts, the other currency's supply graph shifts IN THE SAME DIRECTION. Teaching t ...
PDF
... the effect of exchange rate volatility on exports of agricultural products with emphasis on pistachio, saffron and date. In this case, after estimating exchange rate volatility from GARCH model, the models of research were estimated to investigate long-run and short-run relationships between variabl ...
... the effect of exchange rate volatility on exports of agricultural products with emphasis on pistachio, saffron and date. In this case, after estimating exchange rate volatility from GARCH model, the models of research were estimated to investigate long-run and short-run relationships between variabl ...
International With-Profit Bond from Aviva
... The international With-Profit Funds are reinsured into Aviva’s With-Profit Fund. This means that investors enjoy all the benefits of a well established With-Profit Fund from the largest insurance services provider in the UK. The value of an investment can go down as well as up and is not guaranteed. ...
... The international With-Profit Funds are reinsured into Aviva’s With-Profit Fund. This means that investors enjoy all the benefits of a well established With-Profit Fund from the largest insurance services provider in the UK. The value of an investment can go down as well as up and is not guaranteed. ...
OCA criteria - Erasmus University Thesis Repository
... Different inflation rates cause variations in terms of trade, because when the inflation rate changes, this influences the flow of goods, because of the changes in the price of imports and exports. This causes the current account disequilibria to increase. The exchange rate variations would have to ...
... Different inflation rates cause variations in terms of trade, because when the inflation rate changes, this influences the flow of goods, because of the changes in the price of imports and exports. This causes the current account disequilibria to increase. The exchange rate variations would have to ...
Financial Performance
... – Initially, income rises as the economy moves to the intersection of the new IS curve with the LM curve. – Rise in income increases imports, producing a BOP deficit. The central bank must intervene to supply FX, reducing FX reserves and the money stock. • LM curve shifts left and restores equilibri ...
... – Initially, income rises as the economy moves to the intersection of the new IS curve with the LM curve. – Rise in income increases imports, producing a BOP deficit. The central bank must intervene to supply FX, reducing FX reserves and the money stock. • LM curve shifts left and restores equilibri ...
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... As shown in Figure 4.1, interest rates have converged dramatically in recent years.2 The announcement and introduction of the euro eliminated all expectations of depreciation of traditionally weak currencies – virtually wiping out exchange rate risk – in the Euro area. The process greatly benefited ...
... As shown in Figure 4.1, interest rates have converged dramatically in recent years.2 The announcement and introduction of the euro eliminated all expectations of depreciation of traditionally weak currencies – virtually wiping out exchange rate risk – in the Euro area. The process greatly benefited ...
RMB Internationalization: An Empirical and Policy Analysis
... for a currency to be stored. The same is as the variable real interest rate. A puzzling variable is current account balance, which is negative, suggesting the currency issuing country with a worse trading balance has more share of reserve holding. Though we can not explain it now, this accorded with ...
... for a currency to be stored. The same is as the variable real interest rate. A puzzling variable is current account balance, which is negative, suggesting the currency issuing country with a worse trading balance has more share of reserve holding. Though we can not explain it now, this accorded with ...
Management of Capital Flows in India: 1990-2011
... Asymmetric intervention, unless sterilized, often leads to a sharp increase in reserve money and fuels inflationary pressure. We evaluate the magnitude of sterilization, using empirical tools. We find that between 1998 and 2004, most of the concomitant rise in international reserves was offset by co ...
... Asymmetric intervention, unless sterilized, often leads to a sharp increase in reserve money and fuels inflationary pressure. We evaluate the magnitude of sterilization, using empirical tools. We find that between 1998 and 2004, most of the concomitant rise in international reserves was offset by co ...
The US dollar: Safe haven
... Not least the somewhat surprising dollar appreciation in May 2006 provides a motivation to investigate in greater depth the influence exerted by the US current account deficit on the safe-haven status of the US dollar. In the meantime, the Deutsche Bank (2006) has already taken up this issue in a br ...
... Not least the somewhat surprising dollar appreciation in May 2006 provides a motivation to investigate in greater depth the influence exerted by the US current account deficit on the safe-haven status of the US dollar. In the meantime, the Deutsche Bank (2006) has already taken up this issue in a br ...
This PDF is a selection from a published volume from... Economic Research
... Slow adjustment in the composition of U.S. output toward traded goods over an extended time period will not require unprecedented dollar depreciation. High oil prices and high consumption by oil exporters would generate a slower rate of dollar depreciation against the renminbi and higher interest ra ...
... Slow adjustment in the composition of U.S. output toward traded goods over an extended time period will not require unprecedented dollar depreciation. High oil prices and high consumption by oil exporters would generate a slower rate of dollar depreciation against the renminbi and higher interest ra ...
THE IMPACT OF EXCHANGE RATE PASS-THROUGH
... of payments. Otherwise, the inflow of foreign exchange from exports of goods and services is "healthy" gain and it is the basic determinant of the balance of payments adjustment. The next factor is the growth of inflation and inflation expectations. As we have already concluded, the growth rate caus ...
... of payments. Otherwise, the inflow of foreign exchange from exports of goods and services is "healthy" gain and it is the basic determinant of the balance of payments adjustment. The next factor is the growth of inflation and inflation expectations. As we have already concluded, the growth rate caus ...
Central Bank of Nigeria Communique No. 102 of the Monetary
... growth opportunities for the advanced economies and oil importing countries while dampening growth prospects in oil exporting economies. The United States led growth in the advanced economies largely on account of lower energy prices, increased consumer spending and housing market recovery. The expe ...
... growth opportunities for the advanced economies and oil importing countries while dampening growth prospects in oil exporting economies. The United States led growth in the advanced economies largely on account of lower energy prices, increased consumer spending and housing market recovery. The expe ...
Argentina`s Monetary and Exchange Rate Policies after the
... pushed by rising country risk and exchange risk premiums. Reserve accumulation reaches a maximum, and a second contractionary phase begins. Capital outflows and higher interest rates give place to an illiquid and insolvent financial scenario a la Minsky (1975). The rise in the real interest rate, an ...
... pushed by rising country risk and exchange risk premiums. Reserve accumulation reaches a maximum, and a second contractionary phase begins. Capital outflows and higher interest rates give place to an illiquid and insolvent financial scenario a la Minsky (1975). The rise in the real interest rate, an ...
A SIMULTANEOUS-EQUATION MODEL OF SHORT
... There have been several recent studies examining the determinants of exchange rates for Pakistan or related countries. Zakaria et al. (2007) examine the PKR exchange rate versus 12 major trading partners. They indicate that exchange rates are influenced by relative inflation rates, monetary policies ...
... There have been several recent studies examining the determinants of exchange rates for Pakistan or related countries. Zakaria et al. (2007) examine the PKR exchange rate versus 12 major trading partners. They indicate that exchange rates are influenced by relative inflation rates, monetary policies ...
Costs and Benefits (% GDP)
... Benefits of an international currency • International use of the dollar creates seigniorage gains for the US • Similarly, if euro becomes an international currency, seigniorage gains will follow for ...
... Benefits of an international currency • International use of the dollar creates seigniorage gains for the US • Similarly, if euro becomes an international currency, seigniorage gains will follow for ...
materials and methods
... • Sport events have become an important means for the economic development of local community, region or country. • Being the host country of any sport event. • Sports tourism:- influence people to tourism. ...
... • Sport events have become an important means for the economic development of local community, region or country. • Being the host country of any sport event. • Sports tourism:- influence people to tourism. ...
Purchasing Power Parity
... Parity Conditions • Parity conditions are the most intriguing when they are false. Why is this so? ¤ Because the parity conditions rely heavily on arbitrage, a violation of parity often implies that a direct or indirect profit opportunity (or cost advantage) is available to the decision-maker. ¤ Th ...
... Parity Conditions • Parity conditions are the most intriguing when they are false. Why is this so? ¤ Because the parity conditions rely heavily on arbitrage, a violation of parity often implies that a direct or indirect profit opportunity (or cost advantage) is available to the decision-maker. ¤ Th ...
The impact of the Great Depression of the 1930s on the British
... of the Bank’s tactics and urged strongly that credits should be used to support the exchange rate, Sayers p395-6. The advice from both Paris and New York was that that Bank rate should not be raised but both looked for reductions in the budget deficit. The Bank also emphasised the need for ‘self–he ...
... of the Bank’s tactics and urged strongly that credits should be used to support the exchange rate, Sayers p395-6. The advice from both Paris and New York was that that Bank rate should not be raised but both looked for reductions in the budget deficit. The Bank also emphasised the need for ‘self–he ...
Sovereign Wealth and Sovereign Power
... project military power hinges on the support of its creditors. The United States is militarily far stronger than Britain was in the 1950s— and unlike Britain, it is not committed to maintaining the dollar’s external value. However, in some ways the United States’ current financial position is more p ...
... project military power hinges on the support of its creditors. The United States is militarily far stronger than Britain was in the 1950s— and unlike Britain, it is not committed to maintaining the dollar’s external value. However, in some ways the United States’ current financial position is more p ...
The Chinese Economic Miracle II: The Damgers Ahead
... with the ratio of money supply to GDP rising from a third to equality from 1978 to 1995. This provided large seigniorage gains. Nevertheless, the government had to run large fiscal deficits funded by bonds held by the state banks. Apart from public investment in infrastructure, much of government ex ...
... with the ratio of money supply to GDP rising from a third to equality from 1978 to 1995. This provided large seigniorage gains. Nevertheless, the government had to run large fiscal deficits funded by bonds held by the state banks. Apart from public investment in infrastructure, much of government ex ...