Dynamics of Macroeconomic Fundamentals Affecting Stock Market
... every economy. An efficient capital market drives the economic growth by stabilizing the financial sector. In an efficient capital market, stock prices adjust swiftly according to the new information available. The stock prices reflect all information about the stocks and also the expectations of th ...
... every economy. An efficient capital market drives the economic growth by stabilizing the financial sector. In an efficient capital market, stock prices adjust swiftly according to the new information available. The stock prices reflect all information about the stocks and also the expectations of th ...
Guyana: 2016 Article IV Consultation--Press Release
... The Executive Directors commended the resilience of Guyana’s economy, which continues to grow despite global headwinds. They noted, however, that challenges and risks remain, and encouraged the authorities to build up fiscal buffers, implement structural reforms, and strengthen the financial sector. ...
... The Executive Directors commended the resilience of Guyana’s economy, which continues to grow despite global headwinds. They noted, however, that challenges and risks remain, and encouraged the authorities to build up fiscal buffers, implement structural reforms, and strengthen the financial sector. ...
A power GARCH examination of the gold market
... 3. Literature review There are a number of assets, traced from the literature in this area, that have an influence on the gold market. In the 2004 period as the dollar weakened, gold reached a 16-year high (compounded also by uncertain economic conditions, geopolitical tensions and producer de-hedgi ...
... 3. Literature review There are a number of assets, traced from the literature in this area, that have an influence on the gold market. In the 2004 period as the dollar weakened, gold reached a 16-year high (compounded also by uncertain economic conditions, geopolitical tensions and producer de-hedgi ...
Can the random walk model be beaten in
... Foreign exchange markets are among the most important financial markets in the world, with trading taking place 24 h a day around the globe and trillions of dollars of different currencies transacted each day. Transactions in foreign exchange markets determine the rates at which currencies are exchan ...
... Foreign exchange markets are among the most important financial markets in the world, with trading taking place 24 h a day around the globe and trillions of dollars of different currencies transacted each day. Transactions in foreign exchange markets determine the rates at which currencies are exchan ...
Inflation in New Zealand’s trading partner economies Satish Ranchhod
... The developed economies examined are the US, UK, Eurozone, Canada, Japan and Australia. When examining consumer price inflation in Australia, we have used data from the Reserve Bank of Australia that removes the impact of GST being introduced in 2000. ...
... The developed economies examined are the US, UK, Eurozone, Canada, Japan and Australia. When examining consumer price inflation in Australia, we have used data from the Reserve Bank of Australia that removes the impact of GST being introduced in 2000. ...
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... Tax Burden on Labour and Capital”, “Banking Regulation” and “The Changing Organisation of Labour”. In total, 110 participants from 17 countries discussed issues such as the causes of euro’s exchange rate fluctuations and the impact of bank regulations reform. In a short period of time, the Summer In ...
... Tax Burden on Labour and Capital”, “Banking Regulation” and “The Changing Organisation of Labour”. In total, 110 participants from 17 countries discussed issues such as the causes of euro’s exchange rate fluctuations and the impact of bank regulations reform. In a short period of time, the Summer In ...
Does Pre-trade Transparency Affect the Market Quality in an Order
... two buy prices, the ask and next two sell prices) 1. Until then, the TSE only disclosed the best buy and sell prices and quotes. There are few studies of these disclosure reforms in TSE, a large order-driven market. Comerton-Forde et al. (2005) show that the removal of broker identities effectively ...
... two buy prices, the ask and next two sell prices) 1. Until then, the TSE only disclosed the best buy and sell prices and quotes. There are few studies of these disclosure reforms in TSE, a large order-driven market. Comerton-Forde et al. (2005) show that the removal of broker identities effectively ...
NBER WORKING PAPER SERIES Kristin J. Forbes Working Paper 13908
... literature is whether the current system of large global imbalances can continue. Most traditional models suggest that this system will not persist because the United States must stabilize its external debt ratios, and part of this adjustment will involve a large dollar depreciation (Obstfeld and Ro ...
... literature is whether the current system of large global imbalances can continue. Most traditional models suggest that this system will not persist because the United States must stabilize its external debt ratios, and part of this adjustment will involve a large dollar depreciation (Obstfeld and Ro ...
How Do Canadian Banks That Deal in Foreign Exchange Hedge
... Can companies that face cash-flow risk increase their value by hedging any potential variability with the use of derivatives? Froot and Stein (1998) show that a financial intermediary will always wish to completely hedge its exposure to all risks that can be traded in an efficient market. Stulz ...
... Can companies that face cash-flow risk increase their value by hedging any potential variability with the use of derivatives? Froot and Stein (1998) show that a financial intermediary will always wish to completely hedge its exposure to all risks that can be traded in an efficient market. Stulz ...
Chapter 25 International Diversification
... • Suppose the risk-free rate in U.K. is 10% and the current exchange rate is $2/£1. • A U.S. investor with $20,000 can buy £10,000 and invest them to obtain £11,000 in one year. • If the £ depreciates to $1.80, the investment will yield only $19, 800, a $200 loss. • The investment was not risk free ...
... • Suppose the risk-free rate in U.K. is 10% and the current exchange rate is $2/£1. • A U.S. investor with $20,000 can buy £10,000 and invest them to obtain £11,000 in one year. • If the £ depreciates to $1.80, the investment will yield only $19, 800, a $200 loss. • The investment was not risk free ...
Wage Inflation, Electoral Uncertainty and the Exchange Rate Regime
... whether they are near the beginning or the end of their term of office. We demonstrate two main results: First, if the 'socialists' care more about unemployment than the 'conservatives', they generate higher inflation at any point in their term of office. This is a generalisation of the basic Alesin ...
... whether they are near the beginning or the end of their term of office. We demonstrate two main results: First, if the 'socialists' care more about unemployment than the 'conservatives', they generate higher inflation at any point in their term of office. This is a generalisation of the basic Alesin ...
SME Exchanges in Emerging Market Economies
... This paper was produced by Alison Harwood, Practice Manager, and Tanya Konidaris, Senior Securities Market Specialist, Capital Markets and Corporate Governance area, Finance & Markets Global Practice. The authors would like to thank the World Federation of Exchanges and representatives from the stoc ...
... This paper was produced by Alison Harwood, Practice Manager, and Tanya Konidaris, Senior Securities Market Specialist, Capital Markets and Corporate Governance area, Finance & Markets Global Practice. The authors would like to thank the World Federation of Exchanges and representatives from the stoc ...
NBER WORKING PAPER SERIES DOES OPENNESS TO TRADE MAKE COUNTRIES
... to creditor countries, from the debtor country. Often it also entails a financial or currency crisis in the latter, accompanied by a sharp fall in output.3 Broadly speaking, there are two opposing views on the relationship between a country’s openness and whether it is prone to sudden stops. The fir ...
... to creditor countries, from the debtor country. Often it also entails a financial or currency crisis in the latter, accompanied by a sharp fall in output.3 Broadly speaking, there are two opposing views on the relationship between a country’s openness and whether it is prone to sudden stops. The fir ...
Modelling New Zealand inflation in a Phillips curve 1
... This article presents some simple estimates of Phillips curves for New Zealand inflation and outlines a recent reorganisation of the inflation process in the Reserve Bank’s Forecasting and Policy System (FPS). While modern economic theory suggests the traditional Phillips curve should be used only wit ...
... This article presents some simple estimates of Phillips curves for New Zealand inflation and outlines a recent reorganisation of the inflation process in the Reserve Bank’s Forecasting and Policy System (FPS). While modern economic theory suggests the traditional Phillips curve should be used only wit ...
Living Standards, Terms of Trade and Foreign Ownership
... Ownership: Reflections on the Australian Mining Boom R G Gregory1 ...
... Ownership: Reflections on the Australian Mining Boom R G Gregory1 ...
Currency internationalisation and exchange rate dynamics in
... determination in emerging markets in the context of the recent process of currency internationalisation using Brazil as a case study. It develops an alternative analytical framework for exchange rate determination in emerging markets based on PostKeynesian economic thought. Drawing on several strand ...
... determination in emerging markets in the context of the recent process of currency internationalisation using Brazil as a case study. It develops an alternative analytical framework for exchange rate determination in emerging markets based on PostKeynesian economic thought. Drawing on several strand ...
Broadly speaking, there are two opposing views on the relationship
... to creditor countries, from the debtor country. Often it also entails a financial or currency crisis in the latter, accompanied by a sharp fall in output.3 Broadly speaking, there are two opposing views on the relationship between a country’s openness and whether it is prone to sudden stops. The fir ...
... to creditor countries, from the debtor country. Often it also entails a financial or currency crisis in the latter, accompanied by a sharp fall in output.3 Broadly speaking, there are two opposing views on the relationship between a country’s openness and whether it is prone to sudden stops. The fir ...
NBER WORKING PAPER SERIES OPTIMAL HOLDINGS OF INTERNATIONAL RESERVES:
... level of optimal reserves for the average country. However, when moving to regional averages, they estimate an optimal level of reserves for each country by setting the size of the Sudden Stop to its realized mean value in each region, keeping the cost of a Sudden Stop constant, while calibrating th ...
... level of optimal reserves for the average country. However, when moving to regional averages, they estimate an optimal level of reserves for each country by setting the size of the Sudden Stop to its realized mean value in each region, keeping the cost of a Sudden Stop constant, while calibrating th ...
Transmission Lags of Monetary Policy: A Meta
... and what determines the speed of transmission. A common claim about the transmission mechanism of monetary policy is that it has “long and variable” lags (Friedman, 1972; Batini and Nelson, 2001; Goodhart, 2001). This view has been embraced by many central banks and taken into account during their d ...
... and what determines the speed of transmission. A common claim about the transmission mechanism of monetary policy is that it has “long and variable” lags (Friedman, 1972; Batini and Nelson, 2001; Goodhart, 2001). This view has been embraced by many central banks and taken into account during their d ...
NBER WORKING PAPER SERIES Geert Bekaert Min Wei
... expected to depreciate. It also predicts that, ceteris paribus, a real interest rate increase should appreciate the currency. UIRP is one of the cornerstones of international nance, constituting an important building block of most important exchange rate determination theories such as the monetary ...
... expected to depreciate. It also predicts that, ceteris paribus, a real interest rate increase should appreciate the currency. UIRP is one of the cornerstones of international nance, constituting an important building block of most important exchange rate determination theories such as the monetary ...
Full Text
... Shifts in the global landscape are taking place following disappointing growth in 2016. Momentum picked up in the second half of 2016, and the outlook for advanced economies has improved for 2017–18. Better growth prospects in the United States, Europe, and Japan reflect some rebound in manufacturin ...
... Shifts in the global landscape are taking place following disappointing growth in 2016. Momentum picked up in the second half of 2016, and the outlook for advanced economies has improved for 2017–18. Better growth prospects in the United States, Europe, and Japan reflect some rebound in manufacturin ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... traded product—the GDP deflator and the wholesale price index—introduce bias because both include a considerable share of nontraded goods (Goldstein and Khan 1985). Moreover, conventional price indexes for traded goods are too aggregated to reflect new product introductions and may not take account ...
... traded product—the GDP deflator and the wholesale price index—introduce bias because both include a considerable share of nontraded goods (Goldstein and Khan 1985). Moreover, conventional price indexes for traded goods are too aggregated to reflect new product introductions and may not take account ...