This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: International Aspects of Fiscal Policies
... The model has rational exchange-rate expectations and rational inflation expectations by investors. The exchange rate is set in an efficient, forward-looking asset market. It can make discrete “jumps” at a point in time in response to “news.” Domestic costs pi are predetermined (i.e., given at a poi ...
... The model has rational exchange-rate expectations and rational inflation expectations by investors. The exchange rate is set in an efficient, forward-looking asset market. It can make discrete “jumps” at a point in time in response to “news.” Domestic costs pi are predetermined (i.e., given at a poi ...
Chapter 3
... • Factor, or input markets allow owners of land, labor and capital to sell these resources to organizations that will transform them into goods. • Product, or output markets allow organizations to sell their goods and services to consumers. ...
... • Factor, or input markets allow owners of land, labor and capital to sell these resources to organizations that will transform them into goods. • Product, or output markets allow organizations to sell their goods and services to consumers. ...
derivatives_general_paper
... speculative transactions increasing from 90%+ to virtually 100%, i.e. increasing the gap (some would say disconnection) between finance and real economy. This was certainly not the idea of the G20 heads of State and Government when they decided in Pittsburgh in September 2009 to do something about d ...
... speculative transactions increasing from 90%+ to virtually 100%, i.e. increasing the gap (some would say disconnection) between finance and real economy. This was certainly not the idea of the G20 heads of State and Government when they decided in Pittsburgh in September 2009 to do something about d ...
DP2006/05 Should Monetary Policy Attempt to Reduce Exchange Rate Volatility in New Zealand?
... The introduction of inflation targeting in New Zealand heralded an era of more stable inflation, output, and interest rates. The exchange rate, however, has remained quite volatile. This has prompted questions about whether a less activist monetary policy could, or should, attenuate exchange rate vo ...
... The introduction of inflation targeting in New Zealand heralded an era of more stable inflation, output, and interest rates. The exchange rate, however, has remained quite volatile. This has prompted questions about whether a less activist monetary policy could, or should, attenuate exchange rate vo ...
SP151: FCIs and Economic Activity :Some International Evidence
... extended MCI, a Financial Conditions Index (FCI), comprising a wider set of asset prices and yields, may be a more useful indicator of aggregate demand conditions than the standard MCI5. However, while there is a large empirical literature on MCIs, there are only very few studies trying to estimate ...
... extended MCI, a Financial Conditions Index (FCI), comprising a wider set of asset prices and yields, may be a more useful indicator of aggregate demand conditions than the standard MCI5. However, while there is a large empirical literature on MCIs, there are only very few studies trying to estimate ...
The anatomy of current account reversals
... of current account reversals in the advanced economies – episodes in which sizeable current account deficits narrowed substantially in a relatively short period of time. Identification of current account reversals Current account reversals can be triggered by a variety of internal and external facto ...
... of current account reversals in the advanced economies – episodes in which sizeable current account deficits narrowed substantially in a relatively short period of time. Identification of current account reversals Current account reversals can be triggered by a variety of internal and external facto ...
The Efficacy of Foreign Exchange Market Intervention in Malawi
... of the shocks to the economy and to be dependent on the degree of capital mobility in the economy (Doroodian and Caporale, 2001). In contrast, empirical work on the actual impact of foreign exchange intervention has not yielded a consensus. Studies that regressed exchange rate on intervention variab ...
... of the shocks to the economy and to be dependent on the degree of capital mobility in the economy (Doroodian and Caporale, 2001). In contrast, empirical work on the actual impact of foreign exchange intervention has not yielded a consensus. Studies that regressed exchange rate on intervention variab ...
External Sector
... sectors. Those are transfers related to main capital, to acquisition/disposal of non-financial nonproduced assets; also the debt relief is a Capital Transfer. Financial Account consists of: Direct Investments, Portfolio Investments, Financial Derivatives, Other Investments and Reserve Assets. Direct ...
... sectors. Those are transfers related to main capital, to acquisition/disposal of non-financial nonproduced assets; also the debt relief is a Capital Transfer. Financial Account consists of: Direct Investments, Portfolio Investments, Financial Derivatives, Other Investments and Reserve Assets. Direct ...
Research and Monetary Policy Department Working Paper No:07/07
... model they show that the optimal policy response to a currency crisis may not necessarily be tight monetary policy as was suggested to Asian countries in 1997 crisis by the IMF. They demonstrate that when the share of foreign currency debt is relatively small and when the sensitivity of credit suppl ...
... model they show that the optimal policy response to a currency crisis may not necessarily be tight monetary policy as was suggested to Asian countries in 1997 crisis by the IMF. They demonstrate that when the share of foreign currency debt is relatively small and when the sensitivity of credit suppl ...
Exchange rates, expected returns and risk: UIP unbound CAMA
... relationship between exchange rates and interest rates.2 A no-arbitrage condition - uncovered interest parity (UIP) - implies a close link between exchange rates and relative interest returns, but evidence of that link has proved elusive. Empirical tests of UIP fail systematically across currency pa ...
... relationship between exchange rates and interest rates.2 A no-arbitrage condition - uncovered interest parity (UIP) - implies a close link between exchange rates and relative interest returns, but evidence of that link has proved elusive. Empirical tests of UIP fail systematically across currency pa ...
Foreign Exchange Market Organization in Selected
... illustrates the share of the U.S. dollar in total trading, using turnover information available from the survey and from the triennial survey of foreign exchange, together with over-thecounter derivative markets that the Bank of International Settlements (BIS) has conducted since 1989. The IMF surve ...
... illustrates the share of the U.S. dollar in total trading, using turnover information available from the survey and from the triennial survey of foreign exchange, together with over-thecounter derivative markets that the Bank of International Settlements (BIS) has conducted since 1989. The IMF surve ...
NBER WORKING PAPER SERIES COMMODITY EXPORT BOOM AND THE REAL EXCHANGE RATE:
... export booms affect production in other sectors of the economy. Most of these studies have focused on the behavior of the real exchange rate as the main transmission mechanism from the booming sector to the rest of the economy. This literature, which has come to be known as the Dutch Disease literat ...
... export booms affect production in other sectors of the economy. Most of these studies have focused on the behavior of the real exchange rate as the main transmission mechanism from the booming sector to the rest of the economy. This literature, which has come to be known as the Dutch Disease literat ...
exchange rate volatility and foreign direct investment in sri lanka
... misalignment. Among these main factors are; the level of output, inflation, the openness of an economy, interest rates, domestic and foreign money supply, the exchange rate regime and central bank independence. The degree of the impact of each of these factors varies and depends on a particular coun ...
... misalignment. Among these main factors are; the level of output, inflation, the openness of an economy, interest rates, domestic and foreign money supply, the exchange rate regime and central bank independence. The degree of the impact of each of these factors varies and depends on a particular coun ...
By Robert C Merton, John and Natty McArthur
... into the archaic trading pits just under a decade later, trading costs have plummeted and derivatives trading volumes have escalated dramatically. The major advantages of using derivatives are that they are efficient in transferring huge amounts of risk; they can be customised, they are reversible a ...
... into the archaic trading pits just under a decade later, trading costs have plummeted and derivatives trading volumes have escalated dramatically. The major advantages of using derivatives are that they are efficient in transferring huge amounts of risk; they can be customised, they are reversible a ...
Factsheet Eurex Exchange
... ARBN Number: Eurex Frankfurt AG ARBN 100 999 764 Neither Eurex Frankfurt AG (Eurex), nor its servants nor agents, is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice. Any information herein is ...
... ARBN Number: Eurex Frankfurt AG ARBN 100 999 764 Neither Eurex Frankfurt AG (Eurex), nor its servants nor agents, is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice. Any information herein is ...
M o n e t a r y ... Contents 1 March 2003
... average exchange rate facing New Zealand exporters has only ...
... average exchange rate facing New Zealand exporters has only ...
AN EMPIRICAL EXAMINATION OF THE STRUCTURAL TURKEY
... the exports in GNP decreased to the levels of the early 1980s. At the same time, export incentives, which had had a strong impact on export performance, were removed to a large extent by the end of 1988 because of budgetary constraints. As a consequence of these developments, trade and current accou ...
... the exports in GNP decreased to the levels of the early 1980s. At the same time, export incentives, which had had a strong impact on export performance, were removed to a large extent by the end of 1988 because of budgetary constraints. As a consequence of these developments, trade and current accou ...
An Analysis of Cambodia`s Trade Flows
... 1.1. Cambodian trade flows In the South-East Asia is Cambodia, one of the developing countries, which completely transformed from a centrally planned to a free-market economy in 1993 a few years after the end of the cold war. Prior to the Paris Peace Accord of 1991, Cambodia faced an economic slump ...
... 1.1. Cambodian trade flows In the South-East Asia is Cambodia, one of the developing countries, which completely transformed from a centrally planned to a free-market economy in 1993 a few years after the end of the cold war. Prior to the Paris Peace Accord of 1991, Cambodia faced an economic slump ...
PV of an ordinary annuity (PVOA)
... Illustration 1: L.T. Notes Payable • Long-term, usually issued to financial institutions. • May be interest bearing or non-interest bearing (we will look at non-interest bearing). • Illustration 1: On January, 2, 2009, Pearson Company purchases a section of land for its new plant site. Pearson issu ...
... Illustration 1: L.T. Notes Payable • Long-term, usually issued to financial institutions. • May be interest bearing or non-interest bearing (we will look at non-interest bearing). • Illustration 1: On January, 2, 2009, Pearson Company purchases a section of land for its new plant site. Pearson issu ...
Spain, the European Union and the Global Economy
... So why is this particular state of things a “crisis”? • After examining data from dozens of countries over the past two centuries, economists Carmen Reinhart and Kenneth Rogoff found a connection between high debt and reduced economic growth. Specifically, they found that when a nation's gross debt ...
... So why is this particular state of things a “crisis”? • After examining data from dozens of countries over the past two centuries, economists Carmen Reinhart and Kenneth Rogoff found a connection between high debt and reduced economic growth. Specifically, they found that when a nation's gross debt ...
Bulletin Reserve Bank of New Zealand Documenting the goals for
... general level of prices”). But even when the legislation does specify what society expects from monetary policy, the form this takes can differ widely from country to country. ...
... general level of prices”). But even when the legislation does specify what society expects from monetary policy, the form this takes can differ widely from country to country. ...
New Zealand’s short- and medium-term real implications
... This section looks at medium term volatility in real exchange rates. The measures we consider indicate that New Zealand has had both longer and larger upswings and downswings than most other countries in our sample. Appendix A shows the identified real exchange rate turning points for each country f ...
... This section looks at medium term volatility in real exchange rates. The measures we consider indicate that New Zealand has had both longer and larger upswings and downswings than most other countries in our sample. Appendix A shows the identified real exchange rate turning points for each country f ...
