The role of national central banks within the European System
... subject to minimum reserve requirements in the euro area are able to participate in standard open market operations and access our standing facilities.17 For the Netherlands, this means that around 85 institutions can participate in tenders, and around 5–10 regularly do so. Within the euro area as a ...
... subject to minimum reserve requirements in the euro area are able to participate in standard open market operations and access our standing facilities.17 For the Netherlands, this means that around 85 institutions can participate in tenders, and around 5–10 regularly do so. Within the euro area as a ...
Has Thailand Learned from the Asian Crisis of 1997? Kuejai Jungjaturapit
... value of the Thai baht was much lower than its current pegged rate. Both foreign and domestic speculators hedged the exchange rate in large volume. At the same time, the Thai government spent a total of around $39 billion in forward swaps outstanding. Thus, foreign reserves were really low. Because ...
... value of the Thai baht was much lower than its current pegged rate. Both foreign and domestic speculators hedged the exchange rate in large volume. At the same time, the Thai government spent a total of around $39 billion in forward swaps outstanding. Thus, foreign reserves were really low. Because ...
What Drives Exchange Rates? New Evidence from a Panel of U.S.
... dollar. However, over the same time, currencies of commodity-importing countries or currency areas, like the euro area and the United Kingdom, have also appreciated against the U.S. dollar. If currencies of commodity exporters appreciate, because their economies bene t from rising commodity prices, ...
... dollar. However, over the same time, currencies of commodity-importing countries or currency areas, like the euro area and the United Kingdom, have also appreciated against the U.S. dollar. If currencies of commodity exporters appreciate, because their economies bene t from rising commodity prices, ...
Publication version - The role of NCBs within the
... subject to minimum reserve requirements in the euro area are able to participate in standard open market operations and access our standing facilities.17 For the Netherlands, this means that around 85 institutions can participate in tenders, and around 5–10 regularly do so. Within the euro area as a ...
... subject to minimum reserve requirements in the euro area are able to participate in standard open market operations and access our standing facilities.17 For the Netherlands, this means that around 85 institutions can participate in tenders, and around 5–10 regularly do so. Within the euro area as a ...
DISCUSSION PAPERS 02-23 High Inflation, Hyperinflation and
... The inflation rate was quite low during the 1970s but started to build up at the beginning of the 1980s. This resulted in large currency depreciation which largely annihilated the debt of the socially owned firms. In fact credits were essentially given at negative real interest rates. The foreign cu ...
... The inflation rate was quite low during the 1970s but started to build up at the beginning of the 1980s. This resulted in large currency depreciation which largely annihilated the debt of the socially owned firms. In fact credits were essentially given at negative real interest rates. The foreign cu ...
Monetary Policy Statement December 2005 Contents
... The Official Cash Rate (OCR) will increase by 25 basis points to 7.25 per cent. As emphasised in our September MPS, and again at the October OCR Review, we remain concerned about the tightness of resources and the persistence of inflation pressures. Exporters and other businesses exposed to the very h ...
... The Official Cash Rate (OCR) will increase by 25 basis points to 7.25 per cent. As emphasised in our September MPS, and again at the October OCR Review, we remain concerned about the tightness of resources and the persistence of inflation pressures. Exporters and other businesses exposed to the very h ...
Document
... To boost the domestic economy and maximize his chances of reelection, Richard Nixon had to look beyond the ordinary tools available at the domestic level. Unlike most heads of state, Nixon had the advantage of leading the world’s largest economy and its strongest political and military power. Under ...
... To boost the domestic economy and maximize his chances of reelection, Richard Nixon had to look beyond the ordinary tools available at the domestic level. Unlike most heads of state, Nixon had the advantage of leading the world’s largest economy and its strongest political and military power. Under ...
NBER WORKING PAPER SERIES Michael B. Devereux
... condition.) This is consistent with the finding of Chari, Kehoe, and McGrattan (2002), who point out that, in time series observations, the correlation between relative consumption and real exchange rates is negative for most OECD economies. They refer to this discrepancy between theory and data as t ...
... condition.) This is consistent with the finding of Chari, Kehoe, and McGrattan (2002), who point out that, in time series observations, the correlation between relative consumption and real exchange rates is negative for most OECD economies. They refer to this discrepancy between theory and data as t ...
Would protectionism defuse global imbalances and spur economic
... Unprecedented global imbalances have stirred an ongoing and lively policy debate. Can they be sustained, and for how long? If not, can an orderly rebalancing be achieved without severely disrupting international trade and …nance or global growth? Past episodes tell a cautionary tale regarding the im ...
... Unprecedented global imbalances have stirred an ongoing and lively policy debate. Can they be sustained, and for how long? If not, can an orderly rebalancing be achieved without severely disrupting international trade and …nance or global growth? Past episodes tell a cautionary tale regarding the im ...
IOSR Journal of Business and Management (IOSR-JBM)
... effectiveness when nominal interest rates are bounded at zero for the European Central Bank. The paper employed stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject ...
... effectiveness when nominal interest rates are bounded at zero for the European Central Bank. The paper employed stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject ...
Sequencing Asian Regionalism: Theory and Lessons from Europe
... affect the solution. Second, the range of sequences that are feasible will depend upon the initial conditions. Third, the range of feasible sequences will depend on the political economy processes inside each nation. Plainly, allowing for more nations, more policies, or more interactions will only s ...
... affect the solution. Second, the range of sequences that are feasible will depend upon the initial conditions. Third, the range of feasible sequences will depend on the political economy processes inside each nation. Plainly, allowing for more nations, more policies, or more interactions will only s ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... South Korea, which pursued free-market economic policies, while unsuccessful governments smothered economic growth with government regulations. With sufficient economic reforms, including trade liberalization and an encouragement of foreign direct investment, the debtor countries will be able to gro ...
... South Korea, which pursued free-market economic policies, while unsuccessful governments smothered economic growth with government regulations. With sufficient economic reforms, including trade liberalization and an encouragement of foreign direct investment, the debtor countries will be able to gro ...
Chapter 15 PowerPoint Presentation
... Two major accounting challenges arise when companies have international operations: ...
... Two major accounting challenges arise when companies have international operations: ...
Gonçalo Pina Essays in International Finance Prof. Jaume Ventura
... sector) and inflation in Korea between 1987 and 2010, together with the timing of the Korean 1997 banking crisis and the Global 2007-09 crisis. Section 1.5 goes into more detail into these two episodes but it is noteworthy to see that even for the annual data presented in Figure 1.4, in both crises ...
... sector) and inflation in Korea between 1987 and 2010, together with the timing of the Korean 1997 banking crisis and the Global 2007-09 crisis. Section 1.5 goes into more detail into these two episodes but it is noteworthy to see that even for the annual data presented in Figure 1.4, in both crises ...
Stock Market Statistics.qxd
... Five basic concepts are available per exchange, based on current and previous adjusted close price (accounting for currency changes and corporate actions). J Advanced: If the trade adjusted price is greater than the previous adjusted close, then it is considered an advance. For each issue that is ca ...
... Five basic concepts are available per exchange, based on current and previous adjusted close price (accounting for currency changes and corporate actions). J Advanced: If the trade adjusted price is greater than the previous adjusted close, then it is considered an advance. For each issue that is ca ...
III. Analysis of International Investment Positions
... position stayed positive for a number of years even when the net foreign asset position had turned negative. Rates of return matter since they are the channel through which international investment positions provide risk sharing. The associated international transfers also are important in determini ...
... position stayed positive for a number of years even when the net foreign asset position had turned negative. Rates of return matter since they are the channel through which international investment positions provide risk sharing. The associated international transfers also are important in determini ...
NBER WORKING PAPER SERIES MODELING DEVIATIONS FROM PURCHASING POWER PARITY (ppp)
... aggregate variability is not inonotonic. Allowing for a short—run Phillips curve with optimal indexation, it is also demonstrated that a higher price flexibility will reduce deviations from ppp and output volatility. ...
... aggregate variability is not inonotonic. Allowing for a short—run Phillips curve with optimal indexation, it is also demonstrated that a higher price flexibility will reduce deviations from ppp and output volatility. ...
The Crisis in Venezuela - Indian Council of World Affairs
... merging of the SICAD I and II. The new mechanism, SIMADI or the Marginal Currency System. Under SIMADI, the purchase and sale of foreign currency by businesses and individuals will be allowed at the price set by market forces.15 The move was to bring some control to the black market buying of US dol ...
... merging of the SICAD I and II. The new mechanism, SIMADI or the Marginal Currency System. Under SIMADI, the purchase and sale of foreign currency by businesses and individuals will be allowed at the price set by market forces.15 The move was to bring some control to the black market buying of US dol ...
PDF
... use of global and China-specific computable general equilibrium models and the analysis of the impact of all of China’s WTO accession commitments, not only its agricultural commitments. The focus on general equilibrium research has two, related justifications. First, when analysing the impacts of ag ...
... use of global and China-specific computable general equilibrium models and the analysis of the impact of all of China’s WTO accession commitments, not only its agricultural commitments. The focus on general equilibrium research has two, related justifications. First, when analysing the impacts of ag ...
Ch 9 Test Study Guide
... An interest bearing account pays interest to a depositor when an average minimum monthly balance is maintained. A disadvantage of an interest-bearing account is that the minimum monthly balance requirement may be high. A checking account with which you pay a fee for each check processed is called a ...
... An interest bearing account pays interest to a depositor when an average minimum monthly balance is maintained. A disadvantage of an interest-bearing account is that the minimum monthly balance requirement may be high. A checking account with which you pay a fee for each check processed is called a ...
Determinants of Foreign Direct Investment in Malaysia: What Matters Most?
... Obviously the finding of this paper shows that FDI has a long run relationship with financial development and and growth rate. Therefore it is necessary to apply next step that is the ARDL approach to cointegration to estimate the long-term coefficients and ECM.. Table 3 presents the ARDL (1, 0, 1) ...
... Obviously the finding of this paper shows that FDI has a long run relationship with financial development and and growth rate. Therefore it is necessary to apply next step that is the ARDL approach to cointegration to estimate the long-term coefficients and ECM.. Table 3 presents the ARDL (1, 0, 1) ...
International Financial Integration* Philip R. Lane Institute for International Integration Studies
... position stayed positive for a number of years even when the net foreign asset position had turned negative. Rates of return matter since they are the channel through which international investment positions provide risk sharing. The associated international transfers also are important in determini ...
... position stayed positive for a number of years even when the net foreign asset position had turned negative. Rates of return matter since they are the channel through which international investment positions provide risk sharing. The associated international transfers also are important in determini ...
Has the Riksbank Been Reacting to Asset Prices?
... In their independent evaluation of the Riksbank’s monetary policy for the period 1995-2005, Giavazzi & Mishkin call attention to what they regard as problems with the Riksbank’s communication in its increasingly flexible inflation targeting policy (Giavazzi & Mishkin 2006: 69-70, 71). In particular, ...
... In their independent evaluation of the Riksbank’s monetary policy for the period 1995-2005, Giavazzi & Mishkin call attention to what they regard as problems with the Riksbank’s communication in its increasingly flexible inflation targeting policy (Giavazzi & Mishkin 2006: 69-70, 71). In particular, ...
The effect of Australian cash rate target announcements
... adjusted by decisions of the Reserve Bank board and is publicly announced to financial markets along with explanations by the Bank for the change. The cash rate has a very strong influence on other interest rates, and therefore helps to set the level of short-term interest rates in the wider economy ...
... adjusted by decisions of the Reserve Bank board and is publicly announced to financial markets along with explanations by the Bank for the change. The cash rate has a very strong influence on other interest rates, and therefore helps to set the level of short-term interest rates in the wider economy ...