an External Instruments Approach
... simultaneously to exogenous changes in monetary policy. The identifying assumption is that surprise changes in market rates within a narrow time window are mainly due to monetary policy shocks and therefore are orthogonal to movements in non-monetary shocks. Second, traditional estimation of VAR mod ...
... simultaneously to exogenous changes in monetary policy. The identifying assumption is that surprise changes in market rates within a narrow time window are mainly due to monetary policy shocks and therefore are orthogonal to movements in non-monetary shocks. Second, traditional estimation of VAR mod ...
Week Ahead: All eyes on European leaders, corporate earnings and
... will be out on Wednesday, while the latest inflation figures are due for release on Friday. The consumer inflation rate eased to 6.2% in August from 6.5% in July, and the cooling trend is expected to continue for the September numbers. In Australia, a range of economic indicators will be released th ...
... will be out on Wednesday, while the latest inflation figures are due for release on Friday. The consumer inflation rate eased to 6.2% in August from 6.5% in July, and the cooling trend is expected to continue for the September numbers. In Australia, a range of economic indicators will be released th ...
Inflation targeting, transparency and interest rate volatility: ditching
... This model has precise implications for the conditional or instantaneous distribution of interest rates, which we denote σ i ( f ) . The product of the partial derivative of the interest rate with respect to the fundamentals, and the standard deviation of the fundamentals gives this15, that is: ...
... This model has precise implications for the conditional or instantaneous distribution of interest rates, which we denote σ i ( f ) . The product of the partial derivative of the interest rate with respect to the fundamentals, and the standard deviation of the fundamentals gives this15, that is: ...
2. Latin America and the Caribbean: Managing Transitions
... corporate spreads as well as equity prices, reflecting the impact of both global and domestic factors (Figure 2.4). About one-third of the rise in corporate spreads over 2015 can be explained by the increase in global volatility, and another third by increased sovereign risk and sharp depreciations, ...
... corporate spreads as well as equity prices, reflecting the impact of both global and domestic factors (Figure 2.4). About one-third of the rise in corporate spreads over 2015 can be explained by the increase in global volatility, and another third by increased sovereign risk and sharp depreciations, ...
CHAIRMAN WEIDENBAUM: Thank you.
... export growth from the U.S. did decline as the rest of the world’s economies weakened -- but it would also be expected to affect international capital flows. And, in particular, one would expect some reallocation and shifting away from some of the safe haven assets in the U.S., and, as a result, one ...
... export growth from the U.S. did decline as the rest of the world’s economies weakened -- but it would also be expected to affect international capital flows. And, in particular, one would expect some reallocation and shifting away from some of the safe haven assets in the U.S., and, as a result, one ...
IOSR Journal of Business and Management (IOSR-JBM)
... Positive relationship between imports and FDI inflows Empirical analysis reveals that indeed over the sample period a currency appreciation had a strong and significant negative impact on Indian firms’ export shares. The real trade-weighted exchange rate and trade partner income are shown to be key ...
... Positive relationship between imports and FDI inflows Empirical analysis reveals that indeed over the sample period a currency appreciation had a strong and significant negative impact on Indian firms’ export shares. The real trade-weighted exchange rate and trade partner income are shown to be key ...
GreekDebt
... •Foreign Reserves rapidly increasing. •At one point (during 2001 to 2003) current account moves in same direction •The points of each year never match up for current account vs. Foreign Reserves •When Greece entered the EMU they may have already had out of balance books. Source : IMF Database, Greec ...
... •Foreign Reserves rapidly increasing. •At one point (during 2001 to 2003) current account moves in same direction •The points of each year never match up for current account vs. Foreign Reserves •When Greece entered the EMU they may have already had out of balance books. Source : IMF Database, Greec ...
Working Paper No. 617 How to Sustain the Chinese Economic Miracle?
... As Rodrik (2009: 2–3) observes, all growth superstars have in common that they “based their growth strategies on developing industrial capabilities, rather than specializing according to their prevailing comparative advantages.” He identifies the production of tradables as the main mechanism through ...
... As Rodrik (2009: 2–3) observes, all growth superstars have in common that they “based their growth strategies on developing industrial capabilities, rather than specializing according to their prevailing comparative advantages.” He identifies the production of tradables as the main mechanism through ...
Slide 1
... If CA>0, a nation increases its net foreign wealth by consuming less than its output. The savings are used to acquire foreign assets. ...
... If CA>0, a nation increases its net foreign wealth by consuming less than its output. The savings are used to acquire foreign assets. ...
1. The Anatomy of Unemployment
... Of course, the CPI is not a perfect measure of inflation, and by tying wages and interest rates to this measure we may just be trading one source of uncertainty for another. Indexation also makes it more difficult for the economy to adjust to supply shocks, as it prevents real wages from rising or f ...
... Of course, the CPI is not a perfect measure of inflation, and by tying wages and interest rates to this measure we may just be trading one source of uncertainty for another. Indexation also makes it more difficult for the economy to adjust to supply shocks, as it prevents real wages from rising or f ...
Chapter 22
... debt to foreigners. These debts are been produced because the economy of the developing world is very small compared to the economy of the industrial world. Since developing countries face a lot of poverty and poor financial institutions, national savings is often low and because of that, they are a ...
... debt to foreigners. These debts are been produced because the economy of the developing world is very small compared to the economy of the industrial world. Since developing countries face a lot of poverty and poor financial institutions, national savings is often low and because of that, they are a ...
Multiple Choice Questions
... debt to foreigners. These debts are been produced because the economy of the developing world is very small compared to the economy of the industrial world. Since developing countries face a lot of poverty and poor financial institutions, national savings is often low and because of that, they are a ...
... debt to foreigners. These debts are been produced because the economy of the developing world is very small compared to the economy of the industrial world. Since developing countries face a lot of poverty and poor financial institutions, national savings is often low and because of that, they are a ...
May 2004 U.S. Antidumping Enforcement and Macroeconomic
... Despite a voluminous literature over the past 20 years on the economic causes and consequences of antidumping policies, both in the U.S. and in other countries,1 little work has been done on the extent to which patterns of antidumping filings and enforcement have been driven by macroeconomic phenome ...
... Despite a voluminous literature over the past 20 years on the economic causes and consequences of antidumping policies, both in the U.S. and in other countries,1 little work has been done on the extent to which patterns of antidumping filings and enforcement have been driven by macroeconomic phenome ...
Australian Government Foreign Exchange Risk Management
... These Guidelines explain the Australian Government’s policy on foreign exchange risk management and the framework under which it operates. The policy has been in place since 1 July 2002. The reporting requirements set out in chapter 5 of these guidelines apply from 1 July 2006. This policy applies t ...
... These Guidelines explain the Australian Government’s policy on foreign exchange risk management and the framework under which it operates. The policy has been in place since 1 July 2002. The reporting requirements set out in chapter 5 of these guidelines apply from 1 July 2006. This policy applies t ...
Time-Varying Risk, Interest Rates, and Exchange Rates
... markets are less segmented; thus, the volatility of the risk premia should be smaller. The model thus predicts that countries with high enough inflation should not have a forward premium anomaly. This prediction is supported by Bansal and Dahlquist (2000), who study the forward premium in both devel ...
... markets are less segmented; thus, the volatility of the risk premia should be smaller. The model thus predicts that countries with high enough inflation should not have a forward premium anomaly. This prediction is supported by Bansal and Dahlquist (2000), who study the forward premium in both devel ...
Twenty-Five Years Later: Macroeconomic Aspects of Transition
... reassignment of power and wealth was unavoidable because the old order collapsed too fast for anyone to organize the new order. Yet, it could be successful despite widespread hardship, or it could fail and lead to new forms of authoritarian regimes. Both happened. This paper takes a broad-brush look ...
... reassignment of power and wealth was unavoidable because the old order collapsed too fast for anyone to organize the new order. Yet, it could be successful despite widespread hardship, or it could fail and lead to new forms of authoritarian regimes. Both happened. This paper takes a broad-brush look ...
Estimating Trade Elasticities for World Capital Goods Exports
... are also deflated using the capital goods export price index obtained from the BLS. Data on the real exchange rate between the exporting and importing countries and real income are obtained from the CEPII-CHELEM database. As Bénassy-Quéré, Fontagné, and Lahrèche-Révil (2001) discuss, the real exchan ...
... are also deflated using the capital goods export price index obtained from the BLS. Data on the real exchange rate between the exporting and importing countries and real income are obtained from the CEPII-CHELEM database. As Bénassy-Quéré, Fontagné, and Lahrèche-Révil (2001) discuss, the real exchan ...
IX. The First Global Economy: The Gold Standard
... the International Gold Standard, 1880-1914 (New York: Federal Reserve Bank of New York); David Hume (), “On the Balance of Trade.” ...
... the International Gold Standard, 1880-1914 (New York: Federal Reserve Bank of New York); David Hume (), “On the Balance of Trade.” ...
real exchange rate movements and export growth: nigeria, 1960-1990
... have influenced changes in the country's external sector policy on three fronts.2 First, a substantial reduction in tariff rates (with import duties mostly below 50%) was made. Second, a liberalized (and indeed generous) foreign exchange and import payments policy was implemented. Third, there was a ...
... have influenced changes in the country's external sector policy on three fronts.2 First, a substantial reduction in tariff rates (with import duties mostly below 50%) was made. Second, a liberalized (and indeed generous) foreign exchange and import payments policy was implemented. Third, there was a ...
MEDACI-What-could-be-the-indicators-of-monetary-policy
... The first hypothesis is inspired by the implication that invokes if the Monetary Policy actually affects different sectors of the real economy, the correct measurement of the orientation of the Monetary Policy should therefore be useful in predicting real variables. In the case of Algeria we assume ...
... The first hypothesis is inspired by the implication that invokes if the Monetary Policy actually affects different sectors of the real economy, the correct measurement of the orientation of the Monetary Policy should therefore be useful in predicting real variables. In the case of Algeria we assume ...
Time-weighted vs. money-weighted rates of return
... of return will reflect the mathematical money-weighted calculation, versus the more commonly used time-weighted calculation. The new regulatory requirement according to Canadian investment regulators is that all investors in Canada will receive this new report with the money-weighted rate of return. ...
... of return will reflect the mathematical money-weighted calculation, versus the more commonly used time-weighted calculation. The new regulatory requirement according to Canadian investment regulators is that all investors in Canada will receive this new report with the money-weighted rate of return. ...
Simple Models to Understand and Teach Business Cycle
... The canonical neoclassical model is insufficient to understand business cycle fluctuations in emerging market and developing economies (EMDEs). I reformulate the models proposed by Aguiar and Gopinath (2007) and Neumeyer and Perri (2005) in simple settings that can be used to do back-of-the-envelope ...
... The canonical neoclassical model is insufficient to understand business cycle fluctuations in emerging market and developing economies (EMDEs). I reformulate the models proposed by Aguiar and Gopinath (2007) and Neumeyer and Perri (2005) in simple settings that can be used to do back-of-the-envelope ...
Nominal GDP Targeting for Developing Countries
... to be the nominal target. Using a simple model outlined by Frankel (1995a,b)9, we compare five alternative nominal policy rules in the conduct of monetary policy: full discretion by the central banker, money supply rule, exchange rate rule, price level rule and nominal GDP rule, respectively. Our in ...
... to be the nominal target. Using a simple model outlined by Frankel (1995a,b)9, we compare five alternative nominal policy rules in the conduct of monetary policy: full discretion by the central banker, money supply rule, exchange rate rule, price level rule and nominal GDP rule, respectively. Our in ...