Central Bank Intervention and Exchange Rate Volatility in Zambia
... misalignment away from fundamental values, offsetting volatility in the (nominal) exchange rate, resisting short-term trends in exchange rates, accumulating official reserves, limiting exchange rate pass-through to prices and defending an exchange rate target are cited as some motivating factors for ...
... misalignment away from fundamental values, offsetting volatility in the (nominal) exchange rate, resisting short-term trends in exchange rates, accumulating official reserves, limiting exchange rate pass-through to prices and defending an exchange rate target are cited as some motivating factors for ...
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... not secured (hedged) by the firm. As for the importation, it is treated as a factor used in the goods production sold in the domestic market. This way, an increase in the exchange rate uncertainty increases the profit variance and changes the demand curve of the firm to the left, leading to a decli ...
... not secured (hedged) by the firm. As for the importation, it is treated as a factor used in the goods production sold in the domestic market. This way, an increase in the exchange rate uncertainty increases the profit variance and changes the demand curve of the firm to the left, leading to a decli ...
Global Investment Outlook - RBC Global Asset Management
... in monetary stimulus is likely playing out, but there appears to be less new fiscal stimulus coming than popularly imagined. A key implication of these findings is to recognize that total government stimulus – monetary and fiscal policy combined – may actually be in slight decline. This is a reason ...
... in monetary stimulus is likely playing out, but there appears to be less new fiscal stimulus coming than popularly imagined. A key implication of these findings is to recognize that total government stimulus – monetary and fiscal policy combined – may actually be in slight decline. This is a reason ...
united states securities and exchange commission - corporate
... with a portfolio of approximately 147,000 communications sites. For more information about American Tower, please visit the “Earnings Materials” and “Company & Industry Resources” sections of our investor relations website at www.americantower.com . Non-GAAP and Defined Financial Measures In additio ...
... with a portfolio of approximately 147,000 communications sites. For more information about American Tower, please visit the “Earnings Materials” and “Company & Industry Resources” sections of our investor relations website at www.americantower.com . Non-GAAP and Defined Financial Measures In additio ...
An Analysis of Exchange Rate Volatility and
... Because of the limitations of the partial equilibrium theories, neo classical trade models employ general equilibrium approach to explain the channel through which exchange rate volatility affects trade. Yet, according to Sercu and Uppal (1995), the main problem with the neo classical models is the ...
... Because of the limitations of the partial equilibrium theories, neo classical trade models employ general equilibrium approach to explain the channel through which exchange rate volatility affects trade. Yet, according to Sercu and Uppal (1995), the main problem with the neo classical models is the ...
Basic Exchange Rate Theories
... This study into basic exchange rate theory was largely undertaken while I was visiting professor at the University of Adelaide, Australia, July – November, 2004. I am grateful to the University of Adelaide for its hospitality which made this visit possible and to the staff of the School of Economics ...
... This study into basic exchange rate theory was largely undertaken while I was visiting professor at the University of Adelaide, Australia, July – November, 2004. I am grateful to the University of Adelaide for its hospitality which made this visit possible and to the staff of the School of Economics ...
Business Cycle Transmission from the US to Germany
... the demand shock displays short-run effects in both the US and Germany. As concerns the transmission channels: trade, influenced by movements of relative prices, seems to play a dominant role in the transmission. Besides trade, monetary policy reacts to relatively strong German price movements and s ...
... the demand shock displays short-run effects in both the US and Germany. As concerns the transmission channels: trade, influenced by movements of relative prices, seems to play a dominant role in the transmission. Besides trade, monetary policy reacts to relatively strong German price movements and s ...
NBER WORKING PAPER SERIES EXCHANGE RATE PASS-THROUGH, EXCHANGE RATE VOLATILITY, AND
... model in which a combination of three factors is key in generating exchange rate volatility that is much higher than the volatility in underlying macroeconomic shocks, or the volatility in other endogenous macroeconomic variables. The first factor is the presence of local currency pricing: exchange ...
... model in which a combination of three factors is key in generating exchange rate volatility that is much higher than the volatility in underlying macroeconomic shocks, or the volatility in other endogenous macroeconomic variables. The first factor is the presence of local currency pricing: exchange ...
Prices and Exchange Rates: A Theory of Disconnect
... consumer import prices (Engel, 2002).1 This empirical regularity is usually interpreted as implying that the effect of nominal exchange rates on quantities traded between countries, the so-called expenditure-switching effect of exchange rates, is negligible: if exchange rate movements do not affect ...
... consumer import prices (Engel, 2002).1 This empirical regularity is usually interpreted as implying that the effect of nominal exchange rates on quantities traded between countries, the so-called expenditure-switching effect of exchange rates, is negligible: if exchange rate movements do not affect ...
An estimated DSGE model for the German economy within
... to the fact that the newest models are estimated on macroeconomic data, presenting a suitable tool for forecasting. Although a lot has been done to improve the empirical properties of DSGE models, there is still a need for further research in this field. It seems that DSGE models are up until now to ...
... to the fact that the newest models are estimated on macroeconomic data, presenting a suitable tool for forecasting. Although a lot has been done to improve the empirical properties of DSGE models, there is still a need for further research in this field. It seems that DSGE models are up until now to ...
Free Full text
... (2016) extend the dataset through 2015. These papers focus on assessing the likelihood of entering a crisis, and do not study the crisis period itself. Also, their sample is limited to 81 advanced and emerging market economies. ...
... (2016) extend the dataset through 2015. These papers focus on assessing the likelihood of entering a crisis, and do not study the crisis period itself. Also, their sample is limited to 81 advanced and emerging market economies. ...
FREE Sample Here - We can offer most test bank and
... d. None of the above ANS: C AACSB Reflective thinking, Strategy PTS: 1 31. Which of the following statements about globalization is false? a. Globalization is a simple evolutionary process. b. Not all economies of the world are benefiting equally from globalization. c. Terrorism, wars and SARS has l ...
... d. None of the above ANS: C AACSB Reflective thinking, Strategy PTS: 1 31. Which of the following statements about globalization is false? a. Globalization is a simple evolutionary process. b. Not all economies of the world are benefiting equally from globalization. c. Terrorism, wars and SARS has l ...
World Economic Outlook: Crisis and Recovery, April 2009
... Prospects Even with determined steps to return the financial sector to health and continued use of macroeconomic policy levers to support aggregate demand, global activity is projected to contract by 1.3 percent in 2009. This represents the deepest post–World War II recession by far. Moreover, the d ...
... Prospects Even with determined steps to return the financial sector to health and continued use of macroeconomic policy levers to support aggregate demand, global activity is projected to contract by 1.3 percent in 2009. This represents the deepest post–World War II recession by far. Moreover, the d ...
Introducing the Bank of Canada`s Projection Model for the Global
... economy to another through trade and exchange rate channels is vital when constructing the outlook for individual economies. Thus, in order to ensure the internal consistency of the Bank of Canada staff projection, we have developed a version of the Global Projection Model (GPM) jointly with staff a ...
... economy to another through trade and exchange rate channels is vital when constructing the outlook for individual economies. Thus, in order to ensure the internal consistency of the Bank of Canada staff projection, we have developed a version of the Global Projection Model (GPM) jointly with staff a ...
Modelling the rand and commodity prices: A Granger causality and
... prices to the exchange rate, findings consistent with Chen and Rogoff (2003). Another attempt at analysing the joint working of the two markets was done by Swift (2004). The author starts with the analysis of Ridler and Yandle (1972) that deals with the dependence of the world price of a certain com ...
... prices to the exchange rate, findings consistent with Chen and Rogoff (2003). Another attempt at analysing the joint working of the two markets was done by Swift (2004). The author starts with the analysis of Ridler and Yandle (1972) that deals with the dependence of the world price of a certain com ...
Lectures on International Money
... – As a unit of account: if everyone understand the denomination, i.e. how much gold one unit refers to, it should work well. However, it is clearly most useful if every bank uses the same denomination. – As a means of payment: bills of credit are easy to carry. However, here the value depends on the ...
... – As a unit of account: if everyone understand the denomination, i.e. how much gold one unit refers to, it should work well. However, it is clearly most useful if every bank uses the same denomination. – As a means of payment: bills of credit are easy to carry. However, here the value depends on the ...
The Duration of Fixed Exchange Rate Regimes
... The widespread wave of currency and financial crises that has affected developed and emerging market economies during the last decade has brought the issue of optimal exchange rate policy back to the forefront of the research agenda in international macroeconomics. In particular, much attention has ...
... The widespread wave of currency and financial crises that has affected developed and emerging market economies during the last decade has brought the issue of optimal exchange rate policy back to the forefront of the research agenda in international macroeconomics. In particular, much attention has ...
How Big (Small?) are Fiscal Multipliers?
... case the choice is forced because the military buildup approach has so far been applied only the US and is not practical for a large panel of countries. The validity of military expenditure as an instrument for public spending hinges on two assumptions. First, military expenditure and war e¤orts mu ...
... case the choice is forced because the military buildup approach has so far been applied only the US and is not practical for a large panel of countries. The validity of military expenditure as an instrument for public spending hinges on two assumptions. First, military expenditure and war e¤orts mu ...
THE VALUATION OF FOREIGN CURRENCY OPTIONS IN KENYA UNDER STOCHASTIC VOLATILITY BY:
... CHAPTER ONE INTRODUCTION 1.1. Background of the Study Currency options are derivative financial instrument where there is an agreement between two parties that gives the purchaser the right, but not the obligation, to exchange a given amount of one currency for another, at a specified rate, on an a ...
... CHAPTER ONE INTRODUCTION 1.1. Background of the Study Currency options are derivative financial instrument where there is an agreement between two parties that gives the purchaser the right, but not the obligation, to exchange a given amount of one currency for another, at a specified rate, on an a ...
The Swiss National Bank in Brief
... The Swiss National Bank (SNB) is Switzerland’s central bank. It is vested with the note-issuing privilege and has been mandated to conduct the country’s monetary policy. In accordance with the Constitution and Swiss law, the SNB is independent in the fulfilment of its mandate, is accountable to the ...
... The Swiss National Bank (SNB) is Switzerland’s central bank. It is vested with the note-issuing privilege and has been mandated to conduct the country’s monetary policy. In accordance with the Constitution and Swiss law, the SNB is independent in the fulfilment of its mandate, is accountable to the ...
Sources
... To bring into the discussion the international experience, we compare developments in Argentina with those in a group of 32 other peer countries, selected to include all G-20 countries, 20 large emerging markets, all BRICS, five other large Latin American countries and peer historical development pa ...
... To bring into the discussion the international experience, we compare developments in Argentina with those in a group of 32 other peer countries, selected to include all G-20 countries, 20 large emerging markets, all BRICS, five other large Latin American countries and peer historical development pa ...
1 Principles of Macroeconomics, 9e
... currencies was set in relation to the British pound. C) were held together by a system of fixed exchange rates in which the value of those currencies was set in relation to the U.S. dollar. D) were held together by a system of flexible exchange rates in which the value of those currencies fluctuated ...
... currencies was set in relation to the British pound. C) were held together by a system of fixed exchange rates in which the value of those currencies was set in relation to the U.S. dollar. D) were held together by a system of flexible exchange rates in which the value of those currencies fluctuated ...
A Sentiment-based Explanation of the Forward Premium Puzzle*
... of this appreciation depends on the home agent’s risk aversion since risk aversion determines the reduction in the marginal utility. Therefore, the econometrician is likely to observe a smaller depreciation or even an appreciation of the home currency in the data. In particular, when risk aversion i ...
... of this appreciation depends on the home agent’s risk aversion since risk aversion determines the reduction in the marginal utility. Therefore, the econometrician is likely to observe a smaller depreciation or even an appreciation of the home currency in the data. In particular, when risk aversion i ...
International monetary systems
International monetary systems are sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable between buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements between international economic factors spread over several decades. Alternatively, they can arise from a single architectural vision as happened at Bretton Woods in 1944.