is a monetary union in caricom desirable?
... appearance of asymmetric shocks. This analysis is closely akin to Kenen’s for whom only diversified economies enough could accept the fixedness of the exchange rates. There are two major objections to this argument. First of all, the movement of geographical integration can take place in border zone ...
... appearance of asymmetric shocks. This analysis is closely akin to Kenen’s for whom only diversified economies enough could accept the fixedness of the exchange rates. There are two major objections to this argument. First of all, the movement of geographical integration can take place in border zone ...
The Uneasy Relation Between The Budget And
... beyond the most sophisticated econometric techniques. Variations in other conditions that affect the world demand for debt and the supply of debt by others apparently swamp the small effects of the large recent U.S. government deficits on real interest rates. This ...
... beyond the most sophisticated econometric techniques. Variations in other conditions that affect the world demand for debt and the supply of debt by others apparently swamp the small effects of the large recent U.S. government deficits on real interest rates. This ...
Institutions for Managing Risks to Living Standards
... Indexing national debt owed to foreigners to national income would prevent countries from falling into difficult situations if their economic growth were not as high as expected. Instead, foreign investors would bear some of the national income risk as part of a diversified portfolio. Such riskshari ...
... Indexing national debt owed to foreigners to national income would prevent countries from falling into difficult situations if their economic growth were not as high as expected. Instead, foreign investors would bear some of the national income risk as part of a diversified portfolio. Such riskshari ...
NEER WORKING PAPER SERIES COMMODITY EXPORT PRICES AND THE REAL
... valuation and inflation. In practice there has been an inverse relationship between the rate of devaluation of the peg and coffee prices. This relation can be seen in Table 2. The high coffee prices of 1976—79, for example, were accompanied by a significant slow—down of the rate of devaluation; when ...
... valuation and inflation. In practice there has been an inverse relationship between the rate of devaluation of the peg and coffee prices. This relation can be seen in Table 2. The high coffee prices of 1976—79, for example, were accompanied by a significant slow—down of the rate of devaluation; when ...
Real equilibrium exchange rates
... fixed exchange rate regimes and flexible product and labour markets that have not experienced major real economic shocks also tend to provide support for stable real exchange rates, all else being equal. These features of empirical studies can be explained in light of the presentation in Sections 3 ...
... fixed exchange rate regimes and flexible product and labour markets that have not experienced major real economic shocks also tend to provide support for stable real exchange rates, all else being equal. These features of empirical studies can be explained in light of the presentation in Sections 3 ...
Chapter 1
... • Imperfections in national markets for products, factors of production and financial assets translate into market opportunities for MNEs • Strategic motives drive the decision to invest abroad and become an MNE. Firms could be seeking new markets, raw materials, production efficiencies, access to t ...
... • Imperfections in national markets for products, factors of production and financial assets translate into market opportunities for MNEs • Strategic motives drive the decision to invest abroad and become an MNE. Firms could be seeking new markets, raw materials, production efficiencies, access to t ...
The quest for nominal and real convergence
... impetus. First, in the mid-eighties, when France decided to give priority to a stable exchange rate between the French franc and the Deutsche mark and hence to price stability, which was Germany´s main policy objective. This followed a proposal for greater political co-operation and a deepening of i ...
... impetus. First, in the mid-eighties, when France decided to give priority to a stable exchange rate between the French franc and the Deutsche mark and hence to price stability, which was Germany´s main policy objective. This followed a proposal for greater political co-operation and a deepening of i ...
The Dutch Disease and Its Neutralization: A Ricardian Approach Luiz Carlos Bresser-Pereira
... competitive markets). Only when the Dutch disease is neutralized will the market be able to play its role in effectively allocating resources and in encouraging investment and innovation. The Dutch disease is an old problem, but it received this name because it was identified only in the 1960s in th ...
... competitive markets). Only when the Dutch disease is neutralized will the market be able to play its role in effectively allocating resources and in encouraging investment and innovation. The Dutch disease is an old problem, but it received this name because it was identified only in the 1960s in th ...
ge14 Bhattarai neu
... of standard technology or preference shocks. In addition, generally, there is a role for fiscal policy, even at positive interest rates, as government spending optimally deviates from its efficient level. We show that when the small open economy is in a liquidity trap, it experiences a negative outp ...
... of standard technology or preference shocks. In addition, generally, there is a role for fiscal policy, even at positive interest rates, as government spending optimally deviates from its efficient level. We show that when the small open economy is in a liquidity trap, it experiences a negative outp ...
1 - EcoMod
... The interpretation and analysis of the normative documentation, laws and decrees in the field of food quality and safety have revealed that there is a rather developed legislative basis in Russia. There are rather strict state norms which regulate allowable mycotoxin levels, and define the detection ...
... The interpretation and analysis of the normative documentation, laws and decrees in the field of food quality and safety have revealed that there is a rather developed legislative basis in Russia. There are rather strict state norms which regulate allowable mycotoxin levels, and define the detection ...
Limit Orders - Fight Finance
... Exchange and OTC Trading Listed stock, futures, options and some bonds are commonly traded on securities exchanges such as the NYSE, LSE, or ASX. Foreign exchange (FX), short term debt (money market securities), bonds, forwards and swaps are commonly traded in the over-the-counter (OTC) markets. OTC ...
... Exchange and OTC Trading Listed stock, futures, options and some bonds are commonly traded on securities exchanges such as the NYSE, LSE, or ASX. Foreign exchange (FX), short term debt (money market securities), bonds, forwards and swaps are commonly traded in the over-the-counter (OTC) markets. OTC ...
Overview of the manufacturing sector
... hedging. When the exchange rate is falling, export values may be inflated (to the extent exporters are hedged at higher exchange rates); conversely when the exchange rate is rising export values may be understated. ...
... hedging. When the exchange rate is falling, export values may be inflated (to the extent exporters are hedged at higher exchange rates); conversely when the exchange rate is rising export values may be understated. ...
The political economy of the Ecuadorian financial crisis
... expansion falls. The economy becomes financially fragile endogenously because agents have institutional and psychological incentives to make mistakes in judgment and confuse temporary increases in creditworthiness with permanent changes (see Crotty, 1994; Grabel, 1995). McKinnon and Pill (1996) and ...
... expansion falls. The economy becomes financially fragile endogenously because agents have institutional and psychological incentives to make mistakes in judgment and confuse temporary increases in creditworthiness with permanent changes (see Crotty, 1994; Grabel, 1995). McKinnon and Pill (1996) and ...
Nontraded Goods, Market Segmentation, and Exchange Rates WP
... goods are large and persistent. Nontraded goods, in the form of final consumption goods and as an input into the production of final tradable goods, are an important aspect behind international relative price differentials for at least three reasons. First, international price differentials for thes ...
... goods are large and persistent. Nontraded goods, in the form of final consumption goods and as an input into the production of final tradable goods, are an important aspect behind international relative price differentials for at least three reasons. First, international price differentials for thes ...
Sticky Prices and Sectoral Real Exchange Rates
... rate, defined as the relative price of two country’s consumption baskets. It has been welldocumented that across a wide variety of countries that real exchange rates are volatile, persistent, and closely track the nominal exchange rate. (See, for example, Mussa 1986.) Accounting for these properties ...
... rate, defined as the relative price of two country’s consumption baskets. It has been welldocumented that across a wide variety of countries that real exchange rates are volatile, persistent, and closely track the nominal exchange rate. (See, for example, Mussa 1986.) Accounting for these properties ...
Canada - Financial Stability Board
... CSA In the context described in A.1, TRs, CCPs, and exchanges or other electronic platforms seeking to be recognized/designated or exempted from recognition/designation will submit an application to the Authorities, respectively and as applicable, including materials to support their application. Wh ...
... CSA In the context described in A.1, TRs, CCPs, and exchanges or other electronic platforms seeking to be recognized/designated or exempted from recognition/designation will submit an application to the Authorities, respectively and as applicable, including materials to support their application. Wh ...
Krugman -Obstfeld-ch14
... • The exchange rate is said to overshoot when its immediate response to a disturbance is greater than its long-run response. • It helps explain why exchange rates move so sharply form day to day. • It is a direct result of sluggish short-run price level adjustment and the interest parity condition. ...
... • The exchange rate is said to overshoot when its immediate response to a disturbance is greater than its long-run response. • It helps explain why exchange rates move so sharply form day to day. • It is a direct result of sluggish short-run price level adjustment and the interest parity condition. ...
Nontraded Goods, Market Segmentation, and Exchange Rates
... goods are large and persistent. Nontraded goods, in the form of final consumption goods and as an input into the production of final tradable goods, are an important aspect behind international relative price differentials for at least three reasons. First, international price differentials for thes ...
... goods are large and persistent. Nontraded goods, in the form of final consumption goods and as an input into the production of final tradable goods, are an important aspect behind international relative price differentials for at least three reasons. First, international price differentials for thes ...
Quarterly national accounts and seasonal adjustment
... • The balance sheet for the RoW provides important information about a country’s international situation – it is a statement of the stock of a country’s external financial assets and liabilities • The difference between the assets and liabilities represents either a net claim on or a net liability t ...
... • The balance sheet for the RoW provides important information about a country’s international situation – it is a statement of the stock of a country’s external financial assets and liabilities • The difference between the assets and liabilities represents either a net claim on or a net liability t ...
Accumulation of Foreign Exchange Reserves and Long Term Growth
... exports, restructuring, and growth, while fighting inflation through tight fiscal and monetary policy (sterilization of increases in money supply caused by the growth of foreign exchange reserves), not through highly priced national currency. Undervalued currency – the necessary component of export ...
... exports, restructuring, and growth, while fighting inflation through tight fiscal and monetary policy (sterilization of increases in money supply caused by the growth of foreign exchange reserves), not through highly priced national currency. Undervalued currency – the necessary component of export ...
Chap_22
... • A debt crisis in which governments default on their debt can be a self-fulfilling mechanism. – Fear of default reduces financial asset inflows and increases financial asset outflows (capital flight), decreasing investment and increasing interest rates, leading to low aggregate demand, output, and ...
... • A debt crisis in which governments default on their debt can be a self-fulfilling mechanism. – Fear of default reduces financial asset inflows and increases financial asset outflows (capital flight), decreasing investment and increasing interest rates, leading to low aggregate demand, output, and ...
Balance of Payments Accounts Balance of Payments
... ¾ Debit items (–) are funds flowing out of a country: ...
... ¾ Debit items (–) are funds flowing out of a country: ...
MALAYSIA’S RESPONSE TO THE FINANCIAL CRISIS: Shankaran Nambiar*
... credit, real estate investments and share purchases rather than for manufacturing, agriculture or building and construction, or for technology-based investment projects with long gestation periods (Chin and Jomo, 2000). The banking system exposed itself to risk both in terms of the sectors it favour ...
... credit, real estate investments and share purchases rather than for manufacturing, agriculture or building and construction, or for technology-based investment projects with long gestation periods (Chin and Jomo, 2000). The banking system exposed itself to risk both in terms of the sectors it favour ...
Not So Disconnected: Exchange Rates and the Capital Stock∗
... inflation rate affect real exchange rates because a subset of households can only hold nominal bonds that make fixed payments in terms of the currency of the country in which they reside. The remaining households have access to complete international asset markets. In equilibrium, the real exchange ...
... inflation rate affect real exchange rates because a subset of households can only hold nominal bonds that make fixed payments in terms of the currency of the country in which they reside. The remaining households have access to complete international asset markets. In equilibrium, the real exchange ...
IB Comment Letter to SEC Opposing New Margin Requirements for
... “pattern day trader”, the new rules will reduce the liquidity and efficiency of the market. Indeed, the rise of cheaper and more sophisticated electronic order routing systems -- like the one Interactive Brokers provides to its customers -- is providing to customers for the first time in history the ...
... “pattern day trader”, the new rules will reduce the liquidity and efficiency of the market. Indeed, the rise of cheaper and more sophisticated electronic order routing systems -- like the one Interactive Brokers provides to its customers -- is providing to customers for the first time in history the ...