DRAFT SUMMARY RECORD OF THE
... outlook for the US for 2008 may be revised downwards, which will substantially impact on the prospects of emerging East Asia. The effects of the sub-prime crisis are likely to be more serious than those of past financial crises. ABAC commented on possible inflation through food prices in China. It p ...
... outlook for the US for 2008 may be revised downwards, which will substantially impact on the prospects of emerging East Asia. The effects of the sub-prime crisis are likely to be more serious than those of past financial crises. ABAC commented on possible inflation through food prices in China. It p ...
EMU and FDI flows within EU selected countries.
... In 1992 “The Treaty of European Union (TEU)” was signed in Maastricht aiming at the creation of the European Monetary Union (EMU). The Internal Market Programme had already stimulated the mobility of capital within EU. From 1994 until 1999, intra- EU FDI flows were equivalent to 4½ % of gross domest ...
... In 1992 “The Treaty of European Union (TEU)” was signed in Maastricht aiming at the creation of the European Monetary Union (EMU). The Internal Market Programme had already stimulated the mobility of capital within EU. From 1994 until 1999, intra- EU FDI flows were equivalent to 4½ % of gross domest ...
Determinants of Foreign Currency Borrowing in the New Member
... rowing in a foreign currency (from Figure 4 above). Basso, Calvo-Gonzales, and Jurgilas (2007) develop a theoretical and empirical model that shows how the presence of foreign banks in the NMS increases liability dollarization. Interest rate differentials between local and foreign currency are beli ...
... rowing in a foreign currency (from Figure 4 above). Basso, Calvo-Gonzales, and Jurgilas (2007) develop a theoretical and empirical model that shows how the presence of foreign banks in the NMS increases liability dollarization. Interest rate differentials between local and foreign currency are beli ...
SP180: Should Monetary Policy Respond to Asset Price Bubbles? Revisiting the Debate
... Moreover, it is not immediately obvious to me that it is any easier to estimate the output gap than to identify bubbles. Indeed, any credible estimate of the prospective output gap depends, in any case, on bubble identification. Not only is the absence/presence of a bubble relevant to an aggregate ...
... Moreover, it is not immediately obvious to me that it is any easier to estimate the output gap than to identify bubbles. Indeed, any credible estimate of the prospective output gap depends, in any case, on bubble identification. Not only is the absence/presence of a bubble relevant to an aggregate ...
70 Working Paper The benefits and costs of monetary union in Southern Africa:
... tariffs on intra-SADC trade) by 2008; (2) customs union (common tariffs on imports from non-members by 2010; (3) common market (customs union with free movements of the factors of production) by 2015; (4) (incomplete) monetary union (irrevocably fixed exchange rates and coordination of monetary poli ...
... tariffs on intra-SADC trade) by 2008; (2) customs union (common tariffs on imports from non-members by 2010; (3) common market (customs union with free movements of the factors of production) by 2015; (4) (incomplete) monetary union (irrevocably fixed exchange rates and coordination of monetary poli ...
Chapter 6.pmd
... if a pen costs $4 in the US and the nominal exchange rate is Rs 50 per US dollar, then with a real exchange rate of 1, it should cost Rs 200 (ePf = 50 × 4) in India. If the real exchange rises above one, this means that goods abroad have become more expensive than goods at home. The real exchange ra ...
... if a pen costs $4 in the US and the nominal exchange rate is Rs 50 per US dollar, then with a real exchange rate of 1, it should cost Rs 200 (ePf = 50 × 4) in India. If the real exchange rises above one, this means that goods abroad have become more expensive than goods at home. The real exchange ra ...
FISCAL POLICY
... The second tool of monetary policy is known as the target for the overnight rate which is closely related to the bank rate. The bank rate refers to the rate of interest that the Bank of Canada (herein referred to as the Bank) charges the commercial banks on short-term loans. The overnight rate is th ...
... The second tool of monetary policy is known as the target for the overnight rate which is closely related to the bank rate. The bank rate refers to the rate of interest that the Bank of Canada (herein referred to as the Bank) charges the commercial banks on short-term loans. The overnight rate is th ...
- Munich Personal RePEc Archive
... base year. Regarding the choice of the base year, the average values over the analysis period is conventionally retained for lack of an objective reference or equilibrium values (Ary et al. [2012]). In determining the weights, two methods are adopted in the literature. On the one hand, the weights o ...
... base year. Regarding the choice of the base year, the average values over the analysis period is conventionally retained for lack of an objective reference or equilibrium values (Ary et al. [2012]). In determining the weights, two methods are adopted in the literature. On the one hand, the weights o ...
189 KB - Standard Life Investments
... “FTSE®”, “FT-SE®”, “Footsie®”, [“FTSE4Good®” and “techMARK] are trade marks jointly owned by the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International Limited (“FTSE”) under licence. [“All-World®”, “All- Share®” and “All-Small®” are trade marks of FTSE.] The Fu ...
... “FTSE®”, “FT-SE®”, “Footsie®”, [“FTSE4Good®” and “techMARK] are trade marks jointly owned by the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International Limited (“FTSE”) under licence. [“All-World®”, “All- Share®” and “All-Small®” are trade marks of FTSE.] The Fu ...
2. I D E nternational
... advanced and emerging economies, the divergences of growth performances persisted across countries. Among advanced economies, the US economy continued to grow robustly whereas the EU remained weak in spite of a slight recovery in the final quarter. The ongoing recession in Japan put further downward ...
... advanced and emerging economies, the divergences of growth performances persisted across countries. Among advanced economies, the US economy continued to grow robustly whereas the EU remained weak in spite of a slight recovery in the final quarter. The ongoing recession in Japan put further downward ...
Enhancing the Effectiveness of Fiscal Policy for Domestic Resource
... Conditions imposed by international financial institutions Financing tends to be pro-cyclical Fiscal rules Political economy reasons ...
... Conditions imposed by international financial institutions Financing tends to be pro-cyclical Fiscal rules Political economy reasons ...
Tequila Hangover: Latin America`s Debt Crisis
... In this respect, the difference between Latin America and East Asian "Tigers" is clear. The latter group, South Korea and Taiwan for instance, also turned to banks for external funds but used the money to promote vigorous export diversification and growth without widespread market "liberalisation." ...
... In this respect, the difference between Latin America and East Asian "Tigers" is clear. The latter group, South Korea and Taiwan for instance, also turned to banks for external funds but used the money to promote vigorous export diversification and growth without widespread market "liberalisation." ...
External Sector
... Financial Derivatives item was subcategory of Portfolio Investments before, but with the very intensive development of the stock exchange in the world it became an independent item of the Financial Account. Financial Derivatives include following financial contracts: options, futures, swaps, forward ...
... Financial Derivatives item was subcategory of Portfolio Investments before, but with the very intensive development of the stock exchange in the world it became an independent item of the Financial Account. Financial Derivatives include following financial contracts: options, futures, swaps, forward ...
The Rise and Fall of Export-led Growth
... There are three important features of the NAFTA–corporate globalization model. First, it promotes trade but not the classical trade of balanced exports and imports. Second, it promotes a new type of export-led growth based on relocating existing production and diverting new investment, that benefit ...
... There are three important features of the NAFTA–corporate globalization model. First, it promotes trade but not the classical trade of balanced exports and imports. Second, it promotes a new type of export-led growth based on relocating existing production and diverting new investment, that benefit ...
Devaluation of Indian Economy with special reference to RBI
... flexible exchange rates is based upon the assumption that the stabilizing behavior of speculators will make exchange rates relatively stable compared to determine rates. The study has been divided into two parts. The first section describes major economic variables that have direct or indirect impac ...
... flexible exchange rates is based upon the assumption that the stabilizing behavior of speculators will make exchange rates relatively stable compared to determine rates. The study has been divided into two parts. The first section describes major economic variables that have direct or indirect impac ...
Sequencing Asian Regionalism: Theory and Lessons from Europe
... processes would become even more powerful and independent of nation states. It is entirely possible that Haas was confusing correlation with causality. The late 1940s and 1950s saw all European leaders working their way through a checklist of alternative postwar architectures ranging from business-a ...
... processes would become even more powerful and independent of nation states. It is entirely possible that Haas was confusing correlation with causality. The late 1940s and 1950s saw all European leaders working their way through a checklist of alternative postwar architectures ranging from business-a ...
Currency boards and the euro – An “international role of the euro
... unilaterally by the country that introduces a currency board, it does not involve any commitment from the central bank that issues the anchor currency. However, the analysis of the salient characteristics of various exchange rate regimes has become a key issue in the recent debate on sustainable exc ...
... unilaterally by the country that introduces a currency board, it does not involve any commitment from the central bank that issues the anchor currency. However, the analysis of the salient characteristics of various exchange rate regimes has become a key issue in the recent debate on sustainable exc ...
Chapter 14 Monetary Policy
... relative to their customer deposits. 1. Raising the reserve ratio increases required reserves and shrinks excess reserves. Any loss of excess reserves shrinks banks’ lending ability and, therefore, the potential money supply by a multiple amount of the change in excess reserves. 2. Lowering the rese ...
... relative to their customer deposits. 1. Raising the reserve ratio increases required reserves and shrinks excess reserves. Any loss of excess reserves shrinks banks’ lending ability and, therefore, the potential money supply by a multiple amount of the change in excess reserves. 2. Lowering the rese ...
What is the nominal exchange rate?
... • Must have valid excuse • Will be scheduled either before or during the first days of the final exam period, which is May 22 to June 1 • Email Murat Usman ([email protected]) immediately! • No make up for the make up! ...
... • Must have valid excuse • Will be scheduled either before or during the first days of the final exam period, which is May 22 to June 1 • Email Murat Usman ([email protected]) immediately! • No make up for the make up! ...
25 Year Gold XAU Ratio
... year. The annualized growth rate is 21%. This is not surprising when you consider the RBA is pulling out all the stops in an attempt to avert Australia’s first recession since 1990. It will be to no avail as a recession is inevitable and is ironically just what our economy is ...
... year. The annualized growth rate is 21%. This is not surprising when you consider the RBA is pulling out all the stops in an attempt to avert Australia’s first recession since 1990. It will be to no avail as a recession is inevitable and is ironically just what our economy is ...
THE IMPLICATIONS OF SELECT GLOBAL
... Tainos and Caribs were the inhabitants of the Caribbean when Columbus reached the Americas; both human groups became extinct soon after contact, decimated by the Spaniards and the diseases they brought. Samples belonging to pre-Columbiari Taino Indians from the La Caleta site (Dominican Republic) ha ...
... Tainos and Caribs were the inhabitants of the Caribbean when Columbus reached the Americas; both human groups became extinct soon after contact, decimated by the Spaniards and the diseases they brought. Samples belonging to pre-Columbiari Taino Indians from the La Caleta site (Dominican Republic) ha ...
THE OPTIMAL LEVEL OF RESERVES
... 1/ Refers to non-sectorized assets, capital and results accounts, technical reserves accounts, capital reserves, physical assets of financial intermediaries, preemptive reserves, investment in stocks, commercial banks external resources, financing to non-residents, INFONAVIT liabilities other than t ...
... 1/ Refers to non-sectorized assets, capital and results accounts, technical reserves accounts, capital reserves, physical assets of financial intermediaries, preemptive reserves, investment in stocks, commercial banks external resources, financing to non-residents, INFONAVIT liabilities other than t ...
Emerging market currency composition of reserves
... 2. Explaining the currency composition of forex reserves How should reserve managers choose the currency composition of their reserves? The numeraire that is used to measure risks and returns has a very strong influence on calculated optimal currency allocations (Papaioannou et al (2006), Borio et a ...
... 2. Explaining the currency composition of forex reserves How should reserve managers choose the currency composition of their reserves? The numeraire that is used to measure risks and returns has a very strong influence on calculated optimal currency allocations (Papaioannou et al (2006), Borio et a ...
Monetary and Fiscal Policies
... with such crises turn out to be particularly severe and protracted (1999). Most of the work on financial crises has concentrated on documenting the main features of these crises – output loss, length, depth etc. (Reinhart and Rogoff, 2009; Claessens et al., 2004). Research that directly contrasts th ...
... with such crises turn out to be particularly severe and protracted (1999). Most of the work on financial crises has concentrated on documenting the main features of these crises – output loss, length, depth etc. (Reinhart and Rogoff, 2009; Claessens et al., 2004). Research that directly contrasts th ...
monetary policy in emerging market countries with implications for
... Turkey, Uganda, Uruguay, United Kingdom, United States and Yemen. To these should be added the members of the European Central Bank regarding their external exchange rate: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. (These data com ...
... Turkey, Uganda, Uruguay, United Kingdom, United States and Yemen. To these should be added the members of the European Central Bank regarding their external exchange rate: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. (These data com ...
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.