Capital Inflows, Inflation and Exchange Rate Volatility
... monetary target, as M3 growth rate was 15 to 16 percent during this period, was overshot and monetary base expended in both nominal and real terms. Empirical evidence shows that domestic private sector credit is the only variable that can be used effectively to control inflation in case of large cap ...
... monetary target, as M3 growth rate was 15 to 16 percent during this period, was overshot and monetary base expended in both nominal and real terms. Empirical evidence shows that domestic private sector credit is the only variable that can be used effectively to control inflation in case of large cap ...
The ECB has first tried another policy by offering 3 year loans at a 1
... larger domestic markets. These economies, characterised by more complex economic and social structures, have a lesser adaptation capacity. Their banking sectors are more fragile, their public debt heavier. The generalisation of austerity policies slows down growth in the whole zone and limits the po ...
... larger domestic markets. These economies, characterised by more complex economic and social structures, have a lesser adaptation capacity. Their banking sectors are more fragile, their public debt heavier. The generalisation of austerity policies slows down growth in the whole zone and limits the po ...
A survey of literature on the equilibrium real exchange rate an
... The NATREX approach determines the medium-term equilibrium exchange rate and its adjustment towards long-term equilibrium, based on modelling the stock-flow interaction in dynamic growth models for open economies, whose specifications vary according to the characteristics of the economies in questio ...
... The NATREX approach determines the medium-term equilibrium exchange rate and its adjustment towards long-term equilibrium, based on modelling the stock-flow interaction in dynamic growth models for open economies, whose specifications vary according to the characteristics of the economies in questio ...
semester v cm05bba05 – investment management
... 27. The privilege to the issuing company to repurchase bonds is known as a. Call b. Pre-emptive right c. Redemption d. Privileged interest 28. ………….. bond protects the owners from the loss of principal amount a. Registered bonds b. Debenture bonds c. Sinking fund bond d. Mortgage bonds 29. ……………… is ...
... 27. The privilege to the issuing company to repurchase bonds is known as a. Call b. Pre-emptive right c. Redemption d. Privileged interest 28. ………….. bond protects the owners from the loss of principal amount a. Registered bonds b. Debenture bonds c. Sinking fund bond d. Mortgage bonds 29. ……………… is ...
the global financial crisis: emerging markets` prospects for economic
... countries “decouple” and protect themselves from this global tendency? Or maybe the crisis is an opportunity for emerging economies, especially for those of BRIC (Brazil, Russia, India and China) to make their decisive contribution to the stabilization and salvation of the world economy from recessi ...
... countries “decouple” and protect themselves from this global tendency? Or maybe the crisis is an opportunity for emerging economies, especially for those of BRIC (Brazil, Russia, India and China) to make their decisive contribution to the stabilization and salvation of the world economy from recessi ...
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... magnitude of the overvaluation is marginal (except the year when the domestic inflation was at its peak). The most sober policy conclusion the authors reached is that devaluing the currency at the moment seems neither necessary nor useful as it is unlikely to improve the internal and external (trade ...
... magnitude of the overvaluation is marginal (except the year when the domestic inflation was at its peak). The most sober policy conclusion the authors reached is that devaluing the currency at the moment seems neither necessary nor useful as it is unlikely to improve the internal and external (trade ...
Is there a trade-off between exchange rate risk
... interest rate risk, and that, in other cases, both move in the same direction. The analysis under this model also helps to discern the relevant variables at play in these empirical findings. The paper has five sections. In the first two, the proposed model is presented and resolved. The third and fo ...
... interest rate risk, and that, in other cases, both move in the same direction. The analysis under this model also helps to discern the relevant variables at play in these empirical findings. The paper has five sections. In the first two, the proposed model is presented and resolved. The third and fo ...
The Evolution of Price Dispersion in the European Car Market¤
... Car prices in Europe are characterized by large and persistent di®erences across countries. Figures 1a and 1b plot for several car models the maximum percentage and absolute bilateral price di®erence observed across ¯ve distinct markets (Belgium, France, Germany, Italy and the United Kingdom) agains ...
... Car prices in Europe are characterized by large and persistent di®erences across countries. Figures 1a and 1b plot for several car models the maximum percentage and absolute bilateral price di®erence observed across ¯ve distinct markets (Belgium, France, Germany, Italy and the United Kingdom) agains ...
Competitive Entry and Endogenous Risk in the Foreign
... can be viewed as the limit case of overconfident trading in which, holding constant the traders’ perceived signal precision, the actual signal becomes very noisy. We can thus rationalize the trading errors in our model as a closed form representation of overconfident trading. It is crucial that the ...
... can be viewed as the limit case of overconfident trading in which, holding constant the traders’ perceived signal precision, the actual signal becomes very noisy. We can thus rationalize the trading errors in our model as a closed form representation of overconfident trading. It is crucial that the ...
MEFMI Launches Book on Hyper Inflation Period in Zimbabwe
... pace over the last decade (2004 – 2015) ...
... pace over the last decade (2004 – 2015) ...
NBER WORKING PAPER SERIES GLOBAL SHOCKS, ECONOMIC GROWTH AND FINANCIAL CRISES:
... Bretton Woods era are considered to be the periods of globalisation in both goods and services, and of frequent financial crises. Consequently, crisis studies tend to focus on these two periods. In section 4 we will look at how New Zealand compares to the sample of countries in crisis incidence and ...
... Bretton Woods era are considered to be the periods of globalisation in both goods and services, and of frequent financial crises. Consequently, crisis studies tend to focus on these two periods. In section 4 we will look at how New Zealand compares to the sample of countries in crisis incidence and ...
Modeling Exchange Rate Passthrough After Large Devaluations
... decline in real wealth that is a hallmark of contractionary devaluations. Arguably, we can think of the fall in real wealth as a proxy for the balance-sheet e¤ects emphasized by some authors. We suppose that the model economy is initially in a …xed exchange-rate regime and that there is then a chan ...
... decline in real wealth that is a hallmark of contractionary devaluations. Arguably, we can think of the fall in real wealth as a proxy for the balance-sheet e¤ects emphasized by some authors. We suppose that the model economy is initially in a …xed exchange-rate regime and that there is then a chan ...
DP2004/07 A model of Equilibrium Exchange Rates for the New Zealand
... where θ>1, and pZ/pW are the terms of trade, both measured in a ...
... where θ>1, and pZ/pW are the terms of trade, both measured in a ...
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... outlining the history of EMU, Duisenberg focused in detail on to the “two pillar” strategy of the ECB. In his opinion, the growth of the broad money stock M3 points to “generally good prospects for the maintenance of medium-term price stability”. An analysis of the second pillar of ECB strategy – re ...
... outlining the history of EMU, Duisenberg focused in detail on to the “two pillar” strategy of the ECB. In his opinion, the growth of the broad money stock M3 points to “generally good prospects for the maintenance of medium-term price stability”. An analysis of the second pillar of ECB strategy – re ...
IMF International Capital Markets September 1998-
... is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis. ...
... is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis. ...
Crude Oil Prices and the USD/EUR Exchange Rate
... countries are politically instable added to the apprehension about future oil supply. Being in the comfortable position of a producer of last resort, the OPEC is experiencing a revival of some of its market power, as announced production cuts have now again been at least partly effective. Actual and ...
... countries are politically instable added to the apprehension about future oil supply. Being in the comfortable position of a producer of last resort, the OPEC is experiencing a revival of some of its market power, as announced production cuts have now again been at least partly effective. Actual and ...
Financing Against Pledge of Investment Portfolio
... According to ratings of Standard & Poor’s or respective ratings of other credit rating agencies. Based on a separate customer's application, the Bank can grant the customer financing against the pledge of investment portfolio, which will be secured by bonds that were not assigned a credit rating in ...
... According to ratings of Standard & Poor’s or respective ratings of other credit rating agencies. Based on a separate customer's application, the Bank can grant the customer financing against the pledge of investment portfolio, which will be secured by bonds that were not assigned a credit rating in ...
1 - EcoMod
... information at their disposal to determine the expectation of some crucial macroeconomic variables such as inflation rate and exchange rate. While there is a large volume of literature on DSGE in Industrial, Latin America and Asian economies2, few of these studies is based on the African economies ...
... information at their disposal to determine the expectation of some crucial macroeconomic variables such as inflation rate and exchange rate. While there is a large volume of literature on DSGE in Industrial, Latin America and Asian economies2, few of these studies is based on the African economies ...
(Attachment: 11)App 1
... 5. Gilt yields were on a falling trend for much of the last eight months of 2014/15 but were then pulled in different directions by increasing fears after the anti-austerity parties won power in Greece in January; developments since then have increased fears that Greece could be heading for an exit ...
... 5. Gilt yields were on a falling trend for much of the last eight months of 2014/15 but were then pulled in different directions by increasing fears after the anti-austerity parties won power in Greece in January; developments since then have increased fears that Greece could be heading for an exit ...
An Empirical Examination of Heterogeneity and Switching in Foreign
... on survey respondents’ reported inflation forecasts. Branch models the population as switching between three different models differentiated by there implicit level of sophistication. Again, evidence is found in support of a switching model where households respond to adopt the strategy that has per ...
... on survey respondents’ reported inflation forecasts. Branch models the population as switching between three different models differentiated by there implicit level of sophistication. Again, evidence is found in support of a switching model where households respond to adopt the strategy that has per ...
NBER WORKING PAPER SERIES DEBT DELEVERAGING AND THE EXCHANGE RATE Pierpaolo Benigno
... keep the real rate from falling when prices are sticky, causing a longer contraction. And, fixed-exchange-rate or controlled-rate policy regimes can also lead to a more protracted stagnation. A monetary union falls into the latter category, since sluggish adjustment in relative prices makes delevera ...
... keep the real rate from falling when prices are sticky, causing a longer contraction. And, fixed-exchange-rate or controlled-rate policy regimes can also lead to a more protracted stagnation. A monetary union falls into the latter category, since sluggish adjustment in relative prices makes delevera ...
PDF
... sector balances in the latter half of the 1980's and the evolution of the economic crisis with the aid of a computable general equilibrium model. The theoretical basis of the model utilized in the paper rests upon the Walrasian and the Structuralist/Keynesian macro foundations. The model recognizes ...
... sector balances in the latter half of the 1980's and the evolution of the economic crisis with the aid of a computable general equilibrium model. The theoretical basis of the model utilized in the paper rests upon the Walrasian and the Structuralist/Keynesian macro foundations. The model recognizes ...
DP2009/17 Global shocks, economic growth and financial
... Bretton Woods era are considered to be the periods of globalisation in both goods and services, and of frequent financial crises. Consequently, crisis studies tend to focus on these two periods. In section 4 we will look at how New Zealand compares to the sample of countries in crisis incidence and ...
... Bretton Woods era are considered to be the periods of globalisation in both goods and services, and of frequent financial crises. Consequently, crisis studies tend to focus on these two periods. In section 4 we will look at how New Zealand compares to the sample of countries in crisis incidence and ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: International Aspects of Fiscal Policies
... to the other developed nations of the world. To the extent that a fiscal expansion induces dollar appreciation, foreign countries will benefit from increased trade competitiveness. Also, as expansionary fiscal policy affects U.S. aggregate demand, a portion of the change in domestic absorption will ...
... to the other developed nations of the world. To the extent that a fiscal expansion induces dollar appreciation, foreign countries will benefit from increased trade competitiveness. Also, as expansionary fiscal policy affects U.S. aggregate demand, a portion of the change in domestic absorption will ...