NEER WORKING PAPER SERIES INTERNATI)NAL COORDINATION OF ECONOMIC POLICIES: METHODS, AND EFFECTS
... activist "target—zone" proposals that place greater restrictions on national authorities in the conduct of monetary and/or fiscal policies. ...
... activist "target—zone" proposals that place greater restrictions on national authorities in the conduct of monetary and/or fiscal policies. ...
Fertility and the Real Exchange Rate
... accounts. In particular, his evidence is consistent with standard theory that predicts declines in savings with the proportions of both the young and the elderly in the population; see also Domeij and Flodén (2004), Helliwell (2004), and Herbertsson and Zoega (1999). Kim and Lee (2007) find that in ...
... accounts. In particular, his evidence is consistent with standard theory that predicts declines in savings with the proportions of both the young and the elderly in the population; see also Domeij and Flodén (2004), Helliwell (2004), and Herbertsson and Zoega (1999). Kim and Lee (2007) find that in ...
Market Impact Studies
... included in the price and the actual readings above or below forecast influence the price. For non-scalping traders, this study still provides useful information because it tells them if the market has overreacted to a large shock or underreacted to a small one, for instance. The only way to discove ...
... included in the price and the actual readings above or below forecast influence the price. For non-scalping traders, this study still provides useful information because it tells them if the market has overreacted to a large shock or underreacted to a small one, for instance. The only way to discove ...
idc03-sterken 225139 en
... and wages and on the transmission into real expenditure categories. Traditionally the so-called interest rate channel is held responsible for transmission of monetary policy shocks. Nowadays the working of the whole financial system is believed to be relevant. Due to informational problems the credi ...
... and wages and on the transmission into real expenditure categories. Traditionally the so-called interest rate channel is held responsible for transmission of monetary policy shocks. Nowadays the working of the whole financial system is believed to be relevant. Due to informational problems the credi ...
The Optimal Monetary Policy Response to Exchange Rate Misalignments Campbell Leith
... In contrast, the New Open Economy Macroeconomics (NOEM) literature (see Lane, 2001 for a survey) has mainly focused on technology, preference or costpush shocks. This is especially true when deriving fully optimal policy (see for example Clarida et al (2001), Corsetti and Pesenti (2005)). Shocks to ...
... In contrast, the New Open Economy Macroeconomics (NOEM) literature (see Lane, 2001 for a survey) has mainly focused on technology, preference or costpush shocks. This is especially true when deriving fully optimal policy (see for example Clarida et al (2001), Corsetti and Pesenti (2005)). Shocks to ...
here
... The stock market is the market where common stock (or just stock), representing ownership in a company, are traded. Companies initially sell stock (in the primary market) to raise money. But after that, the stock is traded among investors (secondary market). Of all the active markets, the stoc ...
... The stock market is the market where common stock (or just stock), representing ownership in a company, are traded. Companies initially sell stock (in the primary market) to raise money. But after that, the stock is traded among investors (secondary market). Of all the active markets, the stoc ...
1-25 How We Study Financial Markets and Institutions
... The stock market is the market where common stock (or just stock), representing ownership in a company, are traded. Companies initially sell stock (in the primary market) to raise money. But after that, the stock is traded among investors (secondary market). Of all the active markets, the stoc ...
... The stock market is the market where common stock (or just stock), representing ownership in a company, are traded. Companies initially sell stock (in the primary market) to raise money. But after that, the stock is traded among investors (secondary market). Of all the active markets, the stoc ...
Modelling the rand and commodity prices: A Granger causality and
... of its currency has no impact on the world price. The author supposes that there is a boom that exogenously increases the world price of a certain commodity, such that a number of small countries producing the commodity are all hit simultaneously by a common shock that improves their terms of trade. ...
... of its currency has no impact on the world price. The author supposes that there is a boom that exogenously increases the world price of a certain commodity, such that a number of small countries producing the commodity are all hit simultaneously by a common shock that improves their terms of trade. ...
How does monetary policy respond to exchange rate movements
... policy shocks, but restricts the policymaker from using all the current information when designing monetary policy. There is, however, no a priori reason for why the monetary policymakers should disregard news on the exchange rate among all available information when deciding the appropriate interes ...
... policy shocks, but restricts the policymaker from using all the current information when designing monetary policy. There is, however, no a priori reason for why the monetary policymakers should disregard news on the exchange rate among all available information when deciding the appropriate interes ...
L - World bank documents
... financed by new borrowing net of repayment of previous debt. This measure is also referred to as the "consolidatedpublic sector deficit". In the calculation of the PSBR expenditure includes wages of public employees, spending on goods and fixed capital formation, interest on debt, transfers and ...
... financed by new borrowing net of repayment of previous debt. This measure is also referred to as the "consolidatedpublic sector deficit". In the calculation of the PSBR expenditure includes wages of public employees, spending on goods and fixed capital formation, interest on debt, transfers and ...
Extracting Inflation from Stock Returns to Test Purchasing Power Parity
... Whether small menu costs or other transactions costs can create such a sluggish response in prices of goods and services has been debated in the literature theoretically and empirically (see Rotemberg, 1982, Mankiw, 1985, Krugman, 1986, Dixit, 1989a, 1989b and Delgado, 1991). We make little contribu ...
... Whether small menu costs or other transactions costs can create such a sluggish response in prices of goods and services has been debated in the literature theoretically and empirically (see Rotemberg, 1982, Mankiw, 1985, Krugman, 1986, Dixit, 1989a, 1989b and Delgado, 1991). We make little contribu ...
Capital Markets Review | 3rd Quarter 2016
... In the UK, the Bank of England (“BOE”) announced preemptive measures to counteract potential negative effects of the Brexit vote. In August, BOE Governor Mark Carney announced an interest rate cut of 0.25% and an expansion of the Bank’s quantitative easing program by 70 billion pounds over the comin ...
... In the UK, the Bank of England (“BOE”) announced preemptive measures to counteract potential negative effects of the Brexit vote. In August, BOE Governor Mark Carney announced an interest rate cut of 0.25% and an expansion of the Bank’s quantitative easing program by 70 billion pounds over the comin ...
Exchange Rates and Monetary Policy Uncertainty
... We interpret these findings through the lens of a parsimonious model of exchange rate determination in the spirit of Gabaix and Maggiori (2015), in which constrained financiers with short investment horizons intermediate global demand for currencies. These financiers can actively engage in currency ...
... We interpret these findings through the lens of a parsimonious model of exchange rate determination in the spirit of Gabaix and Maggiori (2015), in which constrained financiers with short investment horizons intermediate global demand for currencies. These financiers can actively engage in currency ...
August 20, 2012
... being in bailout programs, and Italy facing very high spreads that may force it to seek a bailout, there are widespread concerns about the future of the euro. The problem is the EFSF is not big enough to provide the funds that Italy would likely need. The same is true for the ESM when all countries ...
... being in bailout programs, and Italy facing very high spreads that may force it to seek a bailout, there are widespread concerns about the future of the euro. The problem is the EFSF is not big enough to provide the funds that Italy would likely need. The same is true for the ESM when all countries ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... resource-based export booms will affect the real exchange rate, wages, employment, and output in the long run.' Changes in commodity export prices can also have important short-run monetary effects, however, effects that spill over to the real exchange rate. A resource-based export boom, for example ...
... resource-based export booms will affect the real exchange rate, wages, employment, and output in the long run.' Changes in commodity export prices can also have important short-run monetary effects, however, effects that spill over to the real exchange rate. A resource-based export boom, for example ...
The US deficit from the inside and the outside
... accelerated relocation of production of tradeable goods and services to low income regions. The USA may also need to take action to save energy and build up export industries ...
... accelerated relocation of production of tradeable goods and services to low income regions. The USA may also need to take action to save energy and build up export industries ...
Empirical Exchange Rate Models of the Nineties
... Next, we assess models that are in the Balassa-Samuelson vein, in that they accord a central role to productivity differentials to explaining movements in real, and hence also nominal, exchange rates. Real versions of the model can be traced to DeGregorio and Wolf (1994), while nominal versions incl ...
... Next, we assess models that are in the Balassa-Samuelson vein, in that they accord a central role to productivity differentials to explaining movements in real, and hence also nominal, exchange rates. Real versions of the model can be traced to DeGregorio and Wolf (1994), while nominal versions incl ...
The Effectiveness of Unconventional Monetary Policy Tools at the
... Topic characteristics In the last a few decades, many central banks around the world tried to reduce and stabilize inflation and they were successful. However, as a consequence nominal interest rates were lowered to such a level which increased the likelihood of binding zero bound on nominal interes ...
... Topic characteristics In the last a few decades, many central banks around the world tried to reduce and stabilize inflation and they were successful. However, as a consequence nominal interest rates were lowered to such a level which increased the likelihood of binding zero bound on nominal interes ...
Financial Innovations Reduce Volatility Selected
... capital.” Social capital includes institutions and “agreements” that keep a society functioning. It includes elements as diverse as laws, markets and educational institutions. Since opacity is a form of capital, it can be measured. Since opacity is a form of capital, its transformation from nega ...
... capital.” Social capital includes institutions and “agreements” that keep a society functioning. It includes elements as diverse as laws, markets and educational institutions. Since opacity is a form of capital, it can be measured. Since opacity is a form of capital, its transformation from nega ...
Financial Repression Financial repression refers to the notion that a
... of capital and thereby impairs economic growth. Ronald McKinnon (1973) and Edward Shaw (1973) were the first to explicate the notion of financial repression. While theoretically an economy with an efficient financial system can achieve growth and development through efficient capital allocation, McK ...
... of capital and thereby impairs economic growth. Ronald McKinnon (1973) and Edward Shaw (1973) were the first to explicate the notion of financial repression. While theoretically an economy with an efficient financial system can achieve growth and development through efficient capital allocation, McK ...
Real GDP, Real GDI and Trading Gains
... See Burgess (1974) and Kohli (1978, 1991). The term "middle products" has been coined by Sanyal and ...
... See Burgess (1974) and Kohli (1978, 1991). The term "middle products" has been coined by Sanyal and ...
View/Open
... trading commodities. For example, machinery and parts are main U.S. export commodities shipped by trucks to Canada, while petroleum products are mostly exported by pipeline. The income and exchange rate elasticities of demand for these commodities can vary for Canadian consumers and producers, which ...
... trading commodities. For example, machinery and parts are main U.S. export commodities shipped by trucks to Canada, while petroleum products are mostly exported by pipeline. The income and exchange rate elasticities of demand for these commodities can vary for Canadian consumers and producers, which ...