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, ...
Econ 472
... Policy issues covered include the significance of the US trade deficit, determinants of the value of the dollar, origins of financial crises, currency crises, and the economic policy linkages between countries. In a global economy, it is crucial to understand why the dollar rises and falls and why p ...
... Policy issues covered include the significance of the US trade deficit, determinants of the value of the dollar, origins of financial crises, currency crises, and the economic policy linkages between countries. In a global economy, it is crucial to understand why the dollar rises and falls and why p ...
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 ...
THE IMPACT OF STATE OWNED BANKS ON INTEREST RATES SPREAD
... that perhaps such market failures are not adequately tackled by state ownership and proper regulation could have a more efficient role to improve welfare.3 There are four sources of justification for state intervention in the banking sector.4 They are: (i) avoiding crises in the financial sector, wh ...
... that perhaps such market failures are not adequately tackled by state ownership and proper regulation could have a more efficient role to improve welfare.3 There are four sources of justification for state intervention in the banking sector.4 They are: (i) avoiding crises in the financial sector, wh ...
mmi-stein 221784 en
... The equilibrium real exchange rate affects the current account and investment. A sustainable rate must be consistent with equation (2). The variables, vector Z(t), that determine the components of these functions are referred to as the real fundamentals. Denote the equilibrium real exchange rate R[Z ...
... The equilibrium real exchange rate affects the current account and investment. A sustainable rate must be consistent with equation (2). The variables, vector Z(t), that determine the components of these functions are referred to as the real fundamentals. Denote the equilibrium real exchange rate R[Z ...
Have The Lessons Learned from The Asian Financial Crisis Been
... equilibrium and the second one representing the goods market equilibrium. In this paper, we add a relationship representing the money market equilibrium to consider the effect of money supply and price level changes during crises. 3.1 Balance of Payments Equilibrium Following Blanchard et al. (2010) ...
... equilibrium and the second one representing the goods market equilibrium. In this paper, we add a relationship representing the money market equilibrium to consider the effect of money supply and price level changes during crises. 3.1 Balance of Payments Equilibrium Following Blanchard et al. (2010) ...
No.303 / November 2009 From Great Depression to Great Credit Crisis:
... decline in manufacturing globally in the twelve months following the global peak in industrial production, which we place in early 2008, was as severe as in the twelve months following the peak in 1929.7 Similarly, while the fall in the U.S. stock market paralleled 1929 during the first year of the ...
... decline in manufacturing globally in the twelve months following the global peak in industrial production, which we place in early 2008, was as severe as in the twelve months following the peak in 1929.7 Similarly, while the fall in the U.S. stock market paralleled 1929 during the first year of the ...
Continuous time regime switching model applied to foreign
... regime to regime due to different crisis and/or policies. Exchange rate regime changes and the effects on some key macroeconomic variables are studied by Caporale and Pittis (1995), who offer some insight of the effects of some regime changes on the real world. In this present paper, we would rathe ...
... regime to regime due to different crisis and/or policies. Exchange rate regime changes and the effects on some key macroeconomic variables are studied by Caporale and Pittis (1995), who offer some insight of the effects of some regime changes on the real world. In this present paper, we would rathe ...
Technical Analysis on Selected Stocks of Energy Sector
... to sign MOU with foreign players and Coal India for expansion. Share prices will increase when power is supplied to private companies. Government is expecting to raise Rs.8100 crores through NTPC stake sales. If international oil price increases then the price of the share also increases in domestic ...
... to sign MOU with foreign players and Coal India for expansion. Share prices will increase when power is supplied to private companies. Government is expecting to raise Rs.8100 crores through NTPC stake sales. If international oil price increases then the price of the share also increases in domestic ...
Financial Reform and Development in the Philippines, 1980
... After a strong growth in the 1970s, the Philippines slid into a debt and economic crisis in the early 1980s. Gross national product (GNP) progressively decelerated during 1981-1983 and then declined by 7.1 percent in 1984 and another 4.1 percent in 1985. The progressive deterioration of the Philippi ...
... After a strong growth in the 1970s, the Philippines slid into a debt and economic crisis in the early 1980s. Gross national product (GNP) progressively decelerated during 1981-1983 and then declined by 7.1 percent in 1984 and another 4.1 percent in 1985. The progressive deterioration of the Philippi ...
The Effect of Exchange Rate Volatility on Productivity of Korean
... Previous studies explicitly show that the exchange rate volatility has a negative effect on investment, employment, and growth (Aghion et al. 2009; Aizenman and Marion 1999; Chong and Gradstein 2009; Serven 2003). Some studies also provide channels through which the exchange rate volatility works it ...
... Previous studies explicitly show that the exchange rate volatility has a negative effect on investment, employment, and growth (Aghion et al. 2009; Aizenman and Marion 1999; Chong and Gradstein 2009; Serven 2003). Some studies also provide channels through which the exchange rate volatility works it ...
High-level Regional Policy Dialogue on
... Islands could face a balance of payment crisis in 2009-2010 and would need to put in place severe austerity measures to address that crisis. The country would probably require external assistance. This threat, however, has passed for now as the Solomon Islands is expected to grow at rates of more t ...
... Islands could face a balance of payment crisis in 2009-2010 and would need to put in place severe austerity measures to address that crisis. The country would probably require external assistance. This threat, however, has passed for now as the Solomon Islands is expected to grow at rates of more t ...
World Bank Document - Open Knowledge Repository
... from Uruguay. As a consequence, during the month of January 2002 alone, BGU lost an estimated 15 percent of total deposits, completely exhausting its available liquidity. Faced with this situation, the Uruguayan central bank had no choice but, on February 13, 2002, to temporarily halt BGU’s operatio ...
... from Uruguay. As a consequence, during the month of January 2002 alone, BGU lost an estimated 15 percent of total deposits, completely exhausting its available liquidity. Faced with this situation, the Uruguayan central bank had no choice but, on February 13, 2002, to temporarily halt BGU’s operatio ...
ECONOMICS
... • Define/Explain /Compare the relevant concepts • Draw/Interpret graphs • Briefly discuss the demand and supply factors • Briefly discuss market intervention HOT QUESTION: Draw a fully labelled graph that expresses equilibrium in the foreign exchange market and predict the effects that changes in th ...
... • Define/Explain /Compare the relevant concepts • Draw/Interpret graphs • Briefly discuss the demand and supply factors • Briefly discuss market intervention HOT QUESTION: Draw a fully labelled graph that expresses equilibrium in the foreign exchange market and predict the effects that changes in th ...
When and Why Worry About Real Exchange Rate Appreciation?
... traditional DD one, argues that the operative channel is the size of the (manufacturing) tradable sector. The export-led growth strategy emerged, in part, as a response to the failure of the import substitution growth strategy that started around the 1950s. Given the speed of technological progress, ...
... traditional DD one, argues that the operative channel is the size of the (manufacturing) tradable sector. The export-led growth strategy emerged, in part, as a response to the failure of the import substitution growth strategy that started around the 1950s. Given the speed of technological progress, ...
A Latin American Perspective on Trade Policies
... therefore important to define a trade policy capable of meeting the challenges faced by the region. At the same time, the specialized literature emphasizes that knowledge and scientific and technical progress are factors which determine the development of new comparative advantages. This means that ...
... therefore important to define a trade policy capable of meeting the challenges faced by the region. At the same time, the specialized literature emphasizes that knowledge and scientific and technical progress are factors which determine the development of new comparative advantages. This means that ...
vsi11 gi Siklos 16150831 en
... seemingly different paths in overall economic activity taken by the emerging and more mature economies of the world. The present paper reconsiders whether it is, in fact, useful to think of correlations in business cycle movements as reflecting some form of coupling or decoupling and, ...
... seemingly different paths in overall economic activity taken by the emerging and more mature economies of the world. The present paper reconsiders whether it is, in fact, useful to think of correlations in business cycle movements as reflecting some form of coupling or decoupling and, ...
The Equilibrium Value of The Euro/$ US Exchange Rate
... and investment. A sustainable rate must be consistent with equation (2). The variables, vector Z(t), that determine the components of these functions are referred to as the real fundamentals. Denote the equilibrium real exchange rate R[Z(t)] to indicate that it depends upon the real fundamentals Z(t ...
... and investment. A sustainable rate must be consistent with equation (2). The variables, vector Z(t), that determine the components of these functions are referred to as the real fundamentals. Denote the equilibrium real exchange rate R[Z(t)] to indicate that it depends upon the real fundamentals Z(t ...
DP2007/09 Local linear impulse responses for a small open economy
... derive the impulse responses from such a VAR, it is transformed into a moving average representation by appealing to Wold’s decomposition theorem. In this paper we take an alternative approach, following Jordà (2005). We apply local linear projections to obtain the impulse responses, as an alternat ...
... derive the impulse responses from such a VAR, it is transformed into a moving average representation by appealing to Wold’s decomposition theorem. In this paper we take an alternative approach, following Jordà (2005). We apply local linear projections to obtain the impulse responses, as an alternat ...
sturm new 6675605 en
... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
del08 wollmershaeuser 7196267 de
... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
Optimal Simple Targeting Rules for Small Open Economies Richard Dennis
... This direct exchange rate pass-through coefficient is a partial elasticity. In the long-run a 1% permanent depreciation of the nominal exchange rate will cause both domestic prices and consumer prices to rise by 1%. ...
... This direct exchange rate pass-through coefficient is a partial elasticity. In the long-run a 1% permanent depreciation of the nominal exchange rate will cause both domestic prices and consumer prices to rise by 1%. ...
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... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
Stop-loss orders and price cascades in currency markets
... where stop-loss orders cluster. 6 This indicates that a trend can be prolonged by the execution of some stop-loss orders triggered by that trend, consistent with the paper’s main hypothesis. However, this result need not demonstrate that stop-loss orders are sometimes executed in "waves," as describ ...
... where stop-loss orders cluster. 6 This indicates that a trend can be prolonged by the execution of some stop-loss orders triggered by that trend, consistent with the paper’s main hypothesis. However, this result need not demonstrate that stop-loss orders are sometimes executed in "waves," as describ ...