Are Banks in more Concentrated Markets less
... In the last two decades, rapid consolidation has led to a rise in the degree of market concentration in the banking sector of many developed economies (Group of Ten, 2001; Vives, 2011). As a result, banking markets tend to be dominated by a small number of large banks. In 2007, the combined market s ...
... In the last two decades, rapid consolidation has led to a rise in the degree of market concentration in the banking sector of many developed economies (Group of Ten, 2001; Vives, 2011). As a result, banking markets tend to be dominated by a small number of large banks. In 2007, the combined market s ...
F2015L01378 F2015L01378 - Federal Register of Legislation
... foreign scrip bid in respect of which all of the following are satisfied: (a) ...
... foreign scrip bid in respect of which all of the following are satisfied: (a) ...
Static Losses, Dynamic Gains
... After establishing our main result, we relax the severity of the targeting problem and investigate optimal government policies: We continue to assume that the government is unable to subsidize capital formation, but we suppose that it can differentially intervene in the economy’s sectors to distort ...
... After establishing our main result, we relax the severity of the targeting problem and investigate optimal government policies: We continue to assume that the government is unable to subsidize capital formation, but we suppose that it can differentially intervene in the economy’s sectors to distort ...
Carl Menger`s contributions to the Austrian currency reform debate
... possibly from 1879 to March 1892, and a rate that would anticipate future movements in the price of gold. Menger admitted that from the viewpoint of (formal) legal justice the going exchange rate should determine the gold content of the currency. However, he pointed out that exact numerical identity ...
... possibly from 1879 to March 1892, and a rate that would anticipate future movements in the price of gold. Menger admitted that from the viewpoint of (formal) legal justice the going exchange rate should determine the gold content of the currency. However, he pointed out that exact numerical identity ...
NBER WORKING PAPER SERIES MONETARY RULES FOR COMMODITY TRADERS Luis Catão Roberto Chang
... 3 discusses the general problem of optimal monetary policy in small open economies of the type studied here, and provides analytical characterizations of Ramsey allocations and flexible price allocations under both perfect risk sharing and financial autarky. Section 4 describes the calibration of t ...
... 3 discusses the general problem of optimal monetary policy in small open economies of the type studied here, and provides analytical characterizations of Ramsey allocations and flexible price allocations under both perfect risk sharing and financial autarky. Section 4 describes the calibration of t ...
Comparison of Reserve Bank and NZIER inflation outlook narratives Editor’s note
... forecasting performance. They appear to have held the view that either: ...
... forecasting performance. They appear to have held the view that either: ...
Advances in Environmental Biology
... is a method for analyzing markets in which main features of firms such as revenues and costs, market situations, the annual growth rate and etc. are investigated [9]. Technical analysis, on the other hand, is based on the study of price volatility in the past. In fact, technical analysis studies the ...
... is a method for analyzing markets in which main features of firms such as revenues and costs, market situations, the annual growth rate and etc. are investigated [9]. Technical analysis, on the other hand, is based on the study of price volatility in the past. In fact, technical analysis studies the ...
jnasci-2015-299-308
... decisions. Exogenous shocks, the lack of a reliable and stable currency and Therefore, trade turbulence and high and volatile inflation, exchange rate fluctuations, oil prices (especially oil-exporting countries) and ineffective fiscal and monetary policy, undermining the functioning of the price sy ...
... decisions. Exogenous shocks, the lack of a reliable and stable currency and Therefore, trade turbulence and high and volatile inflation, exchange rate fluctuations, oil prices (especially oil-exporting countries) and ineffective fiscal and monetary policy, undermining the functioning of the price sy ...
Trade Effect of a Single Currency in East Africa
... instead of the domestic currency (dollarization) include the Armenian dram (Armenia and Nagorno-Karabakh Republic), the Australian dollar (Australia, Kiribati, Nauru, and Tuvalu), the Euro (Andorra, Kosovo and Montenegro), the Indian rupee (India and Bhutan), the New Zealand dollar(New Zealand, Niue ...
... instead of the domestic currency (dollarization) include the Armenian dram (Armenia and Nagorno-Karabakh Republic), the Australian dollar (Australia, Kiribati, Nauru, and Tuvalu), the Euro (Andorra, Kosovo and Montenegro), the Indian rupee (India and Bhutan), the New Zealand dollar(New Zealand, Niue ...
NBER WORKING PAPER SERIES A RISK MANAGEMENT APPROACH TO
... tranquil periods before the floatation of the real (January 1999), to avoid the inconsistent trinity, controls on capital inflows were put in place so that the restrictive monetary policy could be undertaken.14 In bad times, i.e., periods of high risk aversion in international financial markets, int ...
... tranquil periods before the floatation of the real (January 1999), to avoid the inconsistent trinity, controls on capital inflows were put in place so that the restrictive monetary policy could be undertaken.14 In bad times, i.e., periods of high risk aversion in international financial markets, int ...
Export of goods to China
... categories according to the Foreign Trade Law. There are the following basic categories: 1. Goods prohibited from import are listed in the Catalogues of Goods Prohibited from Export and Import numbered (I), (II), (III), (IV), (V), and (VI), and Article 17 of Foreign Trade Law; 2. Restricted goods un ...
... categories according to the Foreign Trade Law. There are the following basic categories: 1. Goods prohibited from import are listed in the Catalogues of Goods Prohibited from Export and Import numbered (I), (II), (III), (IV), (V), and (VI), and Article 17 of Foreign Trade Law; 2. Restricted goods un ...
- ANU Repository
... a fair record of the changing patterns of thought underlying central banking policies during that time. Looking back over them I am struck by the changing emphasis in the theoretical concepts influencing economic analyses within the Bank and the degree to which it was necessary finally to rely on in ...
... a fair record of the changing patterns of thought underlying central banking policies during that time. Looking back over them I am struck by the changing emphasis in the theoretical concepts influencing economic analyses within the Bank and the degree to which it was necessary finally to rely on in ...
THE COMPLEXITIES OF ECONOMIC TRANSITION
... and their impact on the economy of Czech Republic and Slovakia. As mentioned earlier, these initial conditions include factors such as cultural traits and values, geography, macroeconomics and social conditions. These factors vary considerably across countries. However, since Czech Republic and Slov ...
... and their impact on the economy of Czech Republic and Slovakia. As mentioned earlier, these initial conditions include factors such as cultural traits and values, geography, macroeconomics and social conditions. These factors vary considerably across countries. However, since Czech Republic and Slov ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Monetary Policy Rules
... (r,).Short real rates are in turn set relative to some steady state value, determined by a weighted combination of lagged and equilibrium real interest rates. The novel feature of the rule, however, is the feedback term. Deviations of expected inflation (the feedback variable) from the inflation tar ...
... (r,).Short real rates are in turn set relative to some steady state value, determined by a weighted combination of lagged and equilibrium real interest rates. The novel feature of the rule, however, is the feedback term. Deviations of expected inflation (the feedback variable) from the inflation tar ...
The performance of alternative valuation models in the OTC
... the GBP and the JPY for the period 11/13/97–1/29/99, a total of 304 trading days. According to the Bank for International Settlements (1999), options on these two currencies had the largest outstanding notional value at the end of June 1999, except for options on the Euro. Our data set contains midp ...
... the GBP and the JPY for the period 11/13/97–1/29/99, a total of 304 trading days. According to the Bank for International Settlements (1999), options on these two currencies had the largest outstanding notional value at the end of June 1999, except for options on the Euro. Our data set contains midp ...
Accounting for Emerging Market Countries` International Reserves
... between 100 and 150 percent of its Reserve Adequacy Metric as being appropriate, but for the typical EME, that range translates into 10 percent of GDP. In this paper, therefore, we adopt a more pragmatic tack. Rather than try to assess whether Asian RIM countries are stockpiling excessive reserves a ...
... between 100 and 150 percent of its Reserve Adequacy Metric as being appropriate, but for the typical EME, that range translates into 10 percent of GDP. In this paper, therefore, we adopt a more pragmatic tack. Rather than try to assess whether Asian RIM countries are stockpiling excessive reserves a ...
Tests of CAPM on an International Portfolio of Bonds and Stocks
... deficits. These numbers are adjusted for foreign exchange intervention by central banks, and for issues of Treasury bonds denominated in foreign currencies. The international equity data have been used in Engel and Rodrigues (1993). The value of U.S. equities is represented by the total capitalizati ...
... deficits. These numbers are adjusted for foreign exchange intervention by central banks, and for issues of Treasury bonds denominated in foreign currencies. The international equity data have been used in Engel and Rodrigues (1993). The value of U.S. equities is represented by the total capitalizati ...
Reserve Bank forecast narratives Editor’s note
... In recent MPSs we have tended to describe our projections and say what factors (risks) might cause departures from these. In the early MPSs it was taken as given that we would achieve inflation objectives. If risks became realities then monetary policy would be tightened or loosened accordingly to a ...
... In recent MPSs we have tended to describe our projections and say what factors (risks) might cause departures from these. In the early MPSs it was taken as given that we would achieve inflation objectives. If risks became realities then monetary policy would be tightened or loosened accordingly to a ...
World Financial Markets, 1900-1925
... I present a new dataset that describes the financial markets of the early twentieth century. Historical data have proven useful to better understand how financial markets operate. Estimation of the equity-premium (e.g. Goetzmann and Ibbotson (2006)), the efficiency of derivatives markets (Moore and J ...
... I present a new dataset that describes the financial markets of the early twentieth century. Historical data have proven useful to better understand how financial markets operate. Estimation of the equity-premium (e.g. Goetzmann and Ibbotson (2006)), the efficiency of derivatives markets (Moore and J ...
Annexure – 1
... The broker shall enter into a specific agreement with the clients for whom they permit DMA facility. This agreement will include the following safeguards: ...
... The broker shall enter into a specific agreement with the clients for whom they permit DMA facility. This agreement will include the following safeguards: ...
Liquidity Traps, Capital Flows and Currency Wars
... in a small open economy involves devaluing the currency, and temporarily adopting a peg and a price-level target. Jeanne (2009), Haberis and Lipinska (2012) and Fujiwara et al. (2013) study two-country models in which a large shock in one country can lead to a worldwide liquidity trap. In a similar ...
... in a small open economy involves devaluing the currency, and temporarily adopting a peg and a price-level target. Jeanne (2009), Haberis and Lipinska (2012) and Fujiwara et al. (2013) study two-country models in which a large shock in one country can lead to a worldwide liquidity trap. In a similar ...