Political Pressure on Central Banks
... monetary ease (because the remaining pluses and minuses canceled each other). When analyzing the pressure on the Deutsche Bundesbank, Maier (2002) extended the Havrilesky approach in two ways. First, he took into account also signals from other interest groups, namely from the financial sector, empl ...
... monetary ease (because the remaining pluses and minuses canceled each other). When analyzing the pressure on the Deutsche Bundesbank, Maier (2002) extended the Havrilesky approach in two ways. First, he took into account also signals from other interest groups, namely from the financial sector, empl ...
Journal of Applied Science and Agriculture
... not able to influence inflation. Carlstrom and Fuerst (1999, 2000) examined two versions of the fiscal theory of price level (FT), weakform FT and strong-form FT. Weak-form FT postulates that inflation is indeed a monetary phenomenon, although that money is dictated by the fiscal authority. Strong-f ...
... not able to influence inflation. Carlstrom and Fuerst (1999, 2000) examined two versions of the fiscal theory of price level (FT), weakform FT and strong-form FT. Weak-form FT postulates that inflation is indeed a monetary phenomenon, although that money is dictated by the fiscal authority. Strong-f ...
cs/tcm/ccbfm/xiV/5
... Despite the downward trend in the second half of 2008, high energy and food prices resulted in rising current account deficits in most of the COMESA member countries. The data clearly shows mounting threats to current account sustainability in most countries. This together with internal imbalances a ...
... Despite the downward trend in the second half of 2008, high energy and food prices resulted in rising current account deficits in most of the COMESA member countries. The data clearly shows mounting threats to current account sustainability in most countries. This together with internal imbalances a ...
estudios sobre la economia española
... The period beginning around 1985 has witnessed what Graham and Krugman (1993) have called a surge in foreign direct investment (FDI hereafter), mainly among industrialized nations, with Southern Europe as one of its most important destinations in relative terms. The increasing importance of FDI at a ...
... The period beginning around 1985 has witnessed what Graham and Krugman (1993) have called a surge in foreign direct investment (FDI hereafter), mainly among industrialized nations, with Southern Europe as one of its most important destinations in relative terms. The increasing importance of FDI at a ...
Curaçao and Sint Maarten
... partner. If long-discussed flexibility- and competitiveness-enhancing structural reforms are not implemented, both countries’ capacity to absorb shocks may prove limited, and pressures on FX reserves and, ultimately, the peg may intensify. Policy recommendations: Fiscal policies should entrench rece ...
... partner. If long-discussed flexibility- and competitiveness-enhancing structural reforms are not implemented, both countries’ capacity to absorb shocks may prove limited, and pressures on FX reserves and, ultimately, the peg may intensify. Policy recommendations: Fiscal policies should entrench rece ...
Global Imbalances and Structural Change in the United States
... of emerging from the saving glut. Exogenous driving force 2: Labor productivity grew fastest in the goods sector During 1992–2011, labor productivity in the goods sector increased by an average of 4.6 percent per year, while it increased by only 1.4 percent per year in the services sector and fell b ...
... of emerging from the saving glut. Exogenous driving force 2: Labor productivity grew fastest in the goods sector During 1992–2011, labor productivity in the goods sector increased by an average of 4.6 percent per year, while it increased by only 1.4 percent per year in the services sector and fell b ...
Debt Relief and the Current
... A key requirement of the HIPC initiative is that, once debt relief is granted, the beneficiary country achieves macroeconomic ‘sustainability’ and, thus, will not request a new round of debt forgiveness in the future. Generally speaking, macroeconomic sustainability has two key elements: (1) fiscal su ...
... A key requirement of the HIPC initiative is that, once debt relief is granted, the beneficiary country achieves macroeconomic ‘sustainability’ and, thus, will not request a new round of debt forgiveness in the future. Generally speaking, macroeconomic sustainability has two key elements: (1) fiscal su ...
Factors Determining a `Safe` Level of Public Debt
... For this reason, many governments are trying to determine a ‘safe’ level of fiscal deficit and public debt. However, this is not an easy task. There is no single standard of fiscal safety for all economies. Besides, a globalized economy and irregular business cycle make it difficult to find out in w ...
... For this reason, many governments are trying to determine a ‘safe’ level of fiscal deficit and public debt. However, this is not an easy task. There is no single standard of fiscal safety for all economies. Besides, a globalized economy and irregular business cycle make it difficult to find out in w ...
US Welfare and the Trade Balance
... bought. But if national spending patterns differ, relative prices may have to change in order to balance supply and demand in the product markets. If countries all have a higher propensity to buy their own goods and services, for example, we would expect that stronger terms of trade would be associa ...
... bought. But if national spending patterns differ, relative prices may have to change in order to balance supply and demand in the product markets. If countries all have a higher propensity to buy their own goods and services, for example, we would expect that stronger terms of trade would be associa ...
Exchange Rate Movements, Foreign Direct
... entry modes are still not incorporated into the extant theoretical models of international expansion strategies with firm heterogeneity. Second, recent studies show that, given the sharp fluctuation of exchange rates over time in many countries, exchange rate might have played an important role in a ...
... entry modes are still not incorporated into the extant theoretical models of international expansion strategies with firm heterogeneity. Second, recent studies show that, given the sharp fluctuation of exchange rates over time in many countries, exchange rate might have played an important role in a ...
NBER WORKING PAPER SERIES HOME BIAS IN OPEN ECONOMY FINANCIAL MACROECONOMICS
... portfolio of equities across the world if capital is fully mobile across borders. Because foreign equities provide great diversification opportunities, a point made early on in Grubel (1968), Levy and Sarnat (1970) and Solnik (1974), falling barriers to international trade in financial assets over t ...
... portfolio of equities across the world if capital is fully mobile across borders. Because foreign equities provide great diversification opportunities, a point made early on in Grubel (1968), Levy and Sarnat (1970) and Solnik (1974), falling barriers to international trade in financial assets over t ...
Critically evaluate the International Monetary
... typically on domestically produced goods, whereas capital expenditure comes principally from imports. As wages and the prices of essential goods and services become highly politicized during economic downturns, it is the capital expenditure which suffers. For exporters, the opposite is true. Hence, ...
... typically on domestically produced goods, whereas capital expenditure comes principally from imports. As wages and the prices of essential goods and services become highly politicized during economic downturns, it is the capital expenditure which suffers. For exporters, the opposite is true. Hence, ...
Structural and Cyclical Movements of the Current Account in Japan
... constructed by the current account, home GDP growth, world GDP growth, and real exchange rate, over the period of 1980Q(1)-1997Q(2). Then, they defined the structural component of a country’s current account as a projection conditional on past variables equal to their respective long run means. They ...
... constructed by the current account, home GDP growth, world GDP growth, and real exchange rate, over the period of 1980Q(1)-1997Q(2). Then, they defined the structural component of a country’s current account as a projection conditional on past variables equal to their respective long run means. They ...
Limit Orders and the Intraday Behavior of Market Liquidity
... bid and ask prices to go back to the optimal inventory position if the order imbalance moves him out of the desired position. ...
... bid and ask prices to go back to the optimal inventory position if the order imbalance moves him out of the desired position. ...
Rating the Rating Agencies - Peterson Institute for International
... looks less persuasive for developing countries and transition economies— where many default episodes have been preceded by banking and/or currency crises.4 Latin America’s experience in the early 1980s attests to this pattern. Furthermore, had it not been for large-scale rescue packages under the au ...
... looks less persuasive for developing countries and transition economies— where many default episodes have been preceded by banking and/or currency crises.4 Latin America’s experience in the early 1980s attests to this pattern. Furthermore, had it not been for large-scale rescue packages under the au ...
The Currency Market and its Satellites
... Also US traders still do this; so they use unnatural one for e.g. CHF but natural quote for GBP etc ...
... Also US traders still do this; so they use unnatural one for e.g. CHF but natural quote for GBP etc ...
The Gold Price - Dubai City of Gold
... and set by decree. Therefore, from 1934 to 1971 gold was “worth” $35 an ounce only because Franklin Roosevelt decreed that it be so, in 1934. The fallacy that the United States could create reserve currency (dollars) at will, without impacting the dollar’s value, while the rest of the world had to p ...
... and set by decree. Therefore, from 1934 to 1971 gold was “worth” $35 an ounce only because Franklin Roosevelt decreed that it be so, in 1934. The fallacy that the United States could create reserve currency (dollars) at will, without impacting the dollar’s value, while the rest of the world had to p ...
Ignorance and Influence: U.S. Economists on Argentina`s
... “In addition, the backing rule eliminates (or strictly limits, when less than 100 percent of the base is backed) the scope for issuing unbacked monetary liabilities, hence ensuring that the CBA does not run out of foreign reserves to maintain the parity. While the central bank may still give credit ...
... “In addition, the backing rule eliminates (or strictly limits, when less than 100 percent of the base is backed) the scope for issuing unbacked monetary liabilities, hence ensuring that the CBA does not run out of foreign reserves to maintain the parity. While the central bank may still give credit ...
Element: SSEF3.b
... Element: SSEIN1.b Explain that most trade takes place because of comparative advantage in the production of a good or service. Element: SSEIN1.c Explain the difference between balance of trade and balance of payments. SSEIN2 The student will explain why countries sometimes erect trade barriers and s ...
... Element: SSEIN1.b Explain that most trade takes place because of comparative advantage in the production of a good or service. Element: SSEIN1.c Explain the difference between balance of trade and balance of payments. SSEIN2 The student will explain why countries sometimes erect trade barriers and s ...
View/Open
... Nonnenberg and Mendonca (2004) explored the determinants of foreign direct investment in developing countries. They performed an econometric model based in panel data analysis for 38 developing countries (including transition economies) for the 1975-2000 period. They argue that FDI is correlated wit ...
... Nonnenberg and Mendonca (2004) explored the determinants of foreign direct investment in developing countries. They performed an econometric model based in panel data analysis for 38 developing countries (including transition economies) for the 1975-2000 period. They argue that FDI is correlated wit ...
Winston Moore - Inter-American Development Bank
... 36. “Financial Innovation and Efficiency in the Barbadian Banking Industry,” Money Affairs, 2005, Vol. 18 (2), pp. 83-100 (co-authors Roland Craigwell and Kim Coppin). 37. “Barriers to Starting a Business in Barbados,” Journal of Eastern Caribbean Studies, 2005, Vol. 30 (3), pp. 1-27 (co-authors Xio ...
... 36. “Financial Innovation and Efficiency in the Barbadian Banking Industry,” Money Affairs, 2005, Vol. 18 (2), pp. 83-100 (co-authors Roland Craigwell and Kim Coppin). 37. “Barriers to Starting a Business in Barbados,” Journal of Eastern Caribbean Studies, 2005, Vol. 30 (3), pp. 1-27 (co-authors Xio ...
Sattler102507
... expectations. This contractionary monetary policy reduces economic growth and thus diminishes fiscal policy effectiveness. Accountability in economic policy then is limited because the government’s capacity to react to changes in political evaluations is reduced.14 On the positive side, unexpected m ...
... expectations. This contractionary monetary policy reduces economic growth and thus diminishes fiscal policy effectiveness. Accountability in economic policy then is limited because the government’s capacity to react to changes in political evaluations is reduced.14 On the positive side, unexpected m ...
That Which We Call Capital Controls
... same argument applied to other policy instruments—for instance, that taxes should be abolished because they are subject to evasion. Likewise, despite being very much in vogue since the global financial crisis, the evidence on the effectiveness of macroprudential measures is hardly conclusive.2 It is ...
... same argument applied to other policy instruments—for instance, that taxes should be abolished because they are subject to evasion. Likewise, despite being very much in vogue since the global financial crisis, the evidence on the effectiveness of macroprudential measures is hardly conclusive.2 It is ...