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 ...
Discount Policy and Open Market Operations
... http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ...
... http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ...
CURRENCY DEVALUATION AND POVERTY IN NIGERIA (PDF
... country must be able to increase the output of goods with no increase of price of the goods. More so, other countries should be able to increase their level of demand for the devaluating country’s goods. Moreover, the pure theory of devaluation as explained by Kuska (1972) assumed that there are two ...
... country must be able to increase the output of goods with no increase of price of the goods. More so, other countries should be able to increase their level of demand for the devaluating country’s goods. Moreover, the pure theory of devaluation as explained by Kuska (1972) assumed that there are two ...
Global Macro Shifts - Franklin Templeton Investments
... The result of the recent US presidential election has taken most analysts and observers by surprise; it has also generated an unusually high degree of uncertainty over the future course of policies. President-elect Donald Trump has been in the process of selecting his cabinet, and over the course of ...
... The result of the recent US presidential election has taken most analysts and observers by surprise; it has also generated an unusually high degree of uncertainty over the future course of policies. President-elect Donald Trump has been in the process of selecting his cabinet, and over the course of ...
DP2003/8 The stabilisation problem: The case of New Zealand
... negative output gap because it is costly to drive inflation below target. As Dennis and Söderström (2002) observe, the timeconsistent discretionary policy brings the output gap and inflation back to target slowly, and without any overshooting. This proves to be suboptimal because quadratic preferenc ...
... negative output gap because it is costly to drive inflation below target. As Dennis and Söderström (2002) observe, the timeconsistent discretionary policy brings the output gap and inflation back to target slowly, and without any overshooting. This proves to be suboptimal because quadratic preferenc ...
Hopes, Fears, and Dreams: A Comparison of the International
... region raise a question: Are these two neighboring stock exchanges worlds apart or a part of a similar world? Based on recent history, with the mainland’s experience of the iterations of Chinese Communism and Taiwan’s pro-capitalist orientation, one might anticipate that the exchanges are quite dist ...
... region raise a question: Are these two neighboring stock exchanges worlds apart or a part of a similar world? Based on recent history, with the mainland’s experience of the iterations of Chinese Communism and Taiwan’s pro-capitalist orientation, one might anticipate that the exchanges are quite dist ...
Financial Reporting in Hyperinflationary Economies
... approach or a current cost approach, are useful only if they are expressed in terms of the measuring unit current at the balance sheet dateend of the reporting period. As a result, this Standard applies to the primary financial statements of entities reporting in the currency of a hyperinflationary ...
... approach or a current cost approach, are useful only if they are expressed in terms of the measuring unit current at the balance sheet dateend of the reporting period. As a result, this Standard applies to the primary financial statements of entities reporting in the currency of a hyperinflationary ...
file - EBF Groningen
... The idea that a country’s economic fortunes are determined by its success on the world markets is a hypothesis, not necessarily a truth. It is simply not the case that the world’s leading nations are to any important degree in economic competition with each other, or that any of their major economic ...
... The idea that a country’s economic fortunes are determined by its success on the world markets is a hypothesis, not necessarily a truth. It is simply not the case that the world’s leading nations are to any important degree in economic competition with each other, or that any of their major economic ...
1 Exchange Rates and Prices in the Long Run
... The Measurement of Money This figure shows the major kinds of monetary aggregates (currency, M0, M1, and M2) for the United States from 2004 to 2012. Normally, bank reserves are very close to zero, so M0 and currency are virtually identical, but reserves spiked up during the financial crisis in 2008 ...
... The Measurement of Money This figure shows the major kinds of monetary aggregates (currency, M0, M1, and M2) for the United States from 2004 to 2012. Normally, bank reserves are very close to zero, so M0 and currency are virtually identical, but reserves spiked up during the financial crisis in 2008 ...
Trade policy and industrialization
... worse off. Second, when export incentives are introduced alongside import restraints, the export incentives may do little more than offset the disincentive effects of import protection. This may be one reason ...
... worse off. Second, when export incentives are introduced alongside import restraints, the export incentives may do little more than offset the disincentive effects of import protection. This may be one reason ...
Download attachment
... Zangeneh and Salam's discussion is at the theoretical rather than the practical level, as it is about establishing principles rather than looking at the central banking experience in Muslim countries. There have been a number of papers presented to commercial conferences on Islamic banking and finan ...
... Zangeneh and Salam's discussion is at the theoretical rather than the practical level, as it is about establishing principles rather than looking at the central banking experience in Muslim countries. There have been a number of papers presented to commercial conferences on Islamic banking and finan ...
Portfolio Choices with Near Rational Agents: A Solution of Some
... where β is the discount factor, with 0 < β < 1. The utility flow is logarithmic in a consumption basket C. Later, I will relax this assumption. Preferences are similar for the representative agent in the foreign economy, except for the fact that variables are denoted with an asterisk.8 In both count ...
... where β is the discount factor, with 0 < β < 1. The utility flow is logarithmic in a consumption basket C. Later, I will relax this assumption. Preferences are similar for the representative agent in the foreign economy, except for the fact that variables are denoted with an asterisk.8 In both count ...
ethiopian commodity exchange - Making The Connection: Value
... Trading volume in 2010-11 totaled 504,000 tons for coffee, sesame seed, pea bean and maize, with a trading value of US$ 1.2 billion. On the ground, ECX has a network of over 50 warehouses spread across 17 sites, with a total storage capacity of 300,000 tons. Crops delivered to the warehouses are gra ...
... Trading volume in 2010-11 totaled 504,000 tons for coffee, sesame seed, pea bean and maize, with a trading value of US$ 1.2 billion. On the ground, ECX has a network of over 50 warehouses spread across 17 sites, with a total storage capacity of 300,000 tons. Crops delivered to the warehouses are gra ...
39TH ANNUAL MEETING OF THE LIBERIAN STUDIES ASSOCIATION
... More importantly, PPP is a theory which states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries. This means that the exchange rate between two countries should equal the ratio of the two countries' price level of a fixed b ...
... More importantly, PPP is a theory which states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries. This means that the exchange rate between two countries should equal the ratio of the two countries' price level of a fixed b ...
Working Paper No. 853 - Levy Economics Institute of Bard College
... appreciation of the domestic currency. At first, such an appreciation jeopardizes Colombian manufacturing’s competitiveness and exports, thus inducing considerable manufactured goods trade deficits and some deindustrialization.6 On top of this, the appreciation of the nominal exchange rate attracts ...
... appreciation of the domestic currency. At first, such an appreciation jeopardizes Colombian manufacturing’s competitiveness and exports, thus inducing considerable manufactured goods trade deficits and some deindustrialization.6 On top of this, the appreciation of the nominal exchange rate attracts ...
pdf
... 1. You suspect that Delta airlines will merge with Northwest Airlines in the coming month. Delta stock is trading at $0.85. We assume that the forward price equals the stock price. There is a 60% chance that the merger will occur, in which case the stock will be worth $1.20. There is a 40% chance th ...
... 1. You suspect that Delta airlines will merge with Northwest Airlines in the coming month. Delta stock is trading at $0.85. We assume that the forward price equals the stock price. There is a 60% chance that the merger will occur, in which case the stock will be worth $1.20. There is a 40% chance th ...
Betting the House
... and the conclusions currently being used as a guide to policy. Housing booms and busts, just like financial crises, are rare events. In order to gain statistical power one needs much longer samples, but these data are very difficult to obtain. Our work fills this void. This paper analyzes the link b ...
... and the conclusions currently being used as a guide to policy. Housing booms and busts, just like financial crises, are rare events. In order to gain statistical power one needs much longer samples, but these data are very difficult to obtain. Our work fills this void. This paper analyzes the link b ...
NBER WORKING PAPER SERIES INTERNATIONAL RESERVES MANAGEMENT
... the possibility of costly recessions. To simplify the discussion, we strip fiscal considerations from the problem, and identify the precautionary demand for international reserves that is independent of the inefficiencies associated with costly taxes. We study a two-period emerging-market economy wh ...
... the possibility of costly recessions. To simplify the discussion, we strip fiscal considerations from the problem, and identify the precautionary demand for international reserves that is independent of the inefficiencies associated with costly taxes. We study a two-period emerging-market economy wh ...
Empirical Research on RMB Equilibrium Exchange Rate
... most challenging topics in the field of macroeconomics. Many scholars have developed the equilibrium real exchange rate theories. Many domestic scholars used different approaches to analyze the RMB equilibrium exchange rate, focused on the assessment of RMB exchange rate and its misalignment. Yu (19 ...
... most challenging topics in the field of macroeconomics. Many scholars have developed the equilibrium real exchange rate theories. Many domestic scholars used different approaches to analyze the RMB equilibrium exchange rate, focused on the assessment of RMB exchange rate and its misalignment. Yu (19 ...
"The Balassa-Samuelson Model: An Overview"
... Absolute PPP holds if in the absence of all frictions the prices of each good in domestic currency are equalized across countries. If the same goods enter each country’s market basket with identical weights then the law of one price extends to aggregate price levels, yielding, e = P/P*. The absolute ...
... Absolute PPP holds if in the absence of all frictions the prices of each good in domestic currency are equalized across countries. If the same goods enter each country’s market basket with identical weights then the law of one price extends to aggregate price levels, yielding, e = P/P*. The absolute ...
Between war and peace: The Ottoman economy and foreign
... merchants started selling out inventories (Vakit, 17 October 1918: 2). Another commentary in Vakit remarked on lower demand for goods (Vakit, 2 November 1918: 2). Vakit on 14 November 1919 heralded worsening economic conditions (Vakit, 14 November 1918: 2). In line with the above arguments, on 23 No ...
... merchants started selling out inventories (Vakit, 17 October 1918: 2). Another commentary in Vakit remarked on lower demand for goods (Vakit, 2 November 1918: 2). Vakit on 14 November 1919 heralded worsening economic conditions (Vakit, 14 November 1918: 2). In line with the above arguments, on 23 No ...
THE INTERNATIONALISATION OF THE YEN: ESSENTIAL ISSUES
... Japan’s monetary authority, the Ministry of Finance, had only began to discuss internationalising the yen at the end of the 1970s. Initially it viewed the likely impact on the economy as negative. The annual report of the International Finance Bureau of the Ministry of Finance (1978) stated, ‘Increa ...
... Japan’s monetary authority, the Ministry of Finance, had only began to discuss internationalising the yen at the end of the 1970s. Initially it viewed the likely impact on the economy as negative. The annual report of the International Finance Bureau of the Ministry of Finance (1978) stated, ‘Increa ...