Powerpoint Presentation
... Liquidity Trap liquidity trap – demand for money is infinitely elastic (LM curve horizontal), causing monetary policy to be completely ineffective Neoclassical economists refute this through the Pigou Effect: real money balances influence consumption and the IS curve. ...
... Liquidity Trap liquidity trap – demand for money is infinitely elastic (LM curve horizontal), causing monetary policy to be completely ineffective Neoclassical economists refute this through the Pigou Effect: real money balances influence consumption and the IS curve. ...
Varieties of Keynesianism
... financial and economic data possible on a scale unthinkable in the nineteen-twenties. As a result regularities in financial data have come to light that allow the effective use of statistical inference to guide certain types of financial transactions, such as arbitrage. Unfortunately macroeconomic ...
... financial and economic data possible on a scale unthinkable in the nineteen-twenties. As a result regularities in financial data have come to light that allow the effective use of statistical inference to guide certain types of financial transactions, such as arbitrage. Unfortunately macroeconomic ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: The State Of Monetary Economics
... an x per cent annual increase in instrument variable y, ruat caeium — rather ...
... an x per cent annual increase in instrument variable y, ruat caeium — rather ...
mmi05 razin 225761 en
... Macroeconomic theory has long recognized that there exist positive effects of the exchange rate peg regime on macroeconomic performance. The idea is that by fixing their currencies to international moneys (the Dollar, the Euro, or the Yen), fiscally-disciplined emerging economies, could rapidly accu ...
... Macroeconomic theory has long recognized that there exist positive effects of the exchange rate peg regime on macroeconomic performance. The idea is that by fixing their currencies to international moneys (the Dollar, the Euro, or the Yen), fiscally-disciplined emerging economies, could rapidly accu ...
Chapter 13
... … the odds are that the authorities won't give up the peg with the U.S. dollar, say market participants. The Hong Kong Monetary Authority pushed overnight interest rates up to 300% in a desperate attempt to maintain the Hong Kong dollar's link with the U.S. dollar. Does this make sense? (Yes, if a d ...
... … the odds are that the authorities won't give up the peg with the U.S. dollar, say market participants. The Hong Kong Monetary Authority pushed overnight interest rates up to 300% in a desperate attempt to maintain the Hong Kong dollar's link with the U.S. dollar. Does this make sense? (Yes, if a d ...
E719_No13_Chapter13
... … the odds are that the authorities won't give up the peg with the U.S. dollar, say market participants. The Hong Kong Monetary Authority pushed overnight interest rates up to 300% in a desperate attempt to maintain the Hong Kong dollar's link with the U.S. dollar. Does this make sense? (Yes, if a d ...
... … the odds are that the authorities won't give up the peg with the U.S. dollar, say market participants. The Hong Kong Monetary Authority pushed overnight interest rates up to 300% in a desperate attempt to maintain the Hong Kong dollar's link with the U.S. dollar. Does this make sense? (Yes, if a d ...
1. Setting the exchange rate
... international capital mobility. The member countries of the IMF are allowed to adopt exchange rate arrangements of their choice. In this chapter I discuss the reasons for certain exchange rate behaviour and policies that countries are following. Why some countries’ choice is to peg their currency an ...
... international capital mobility. The member countries of the IMF are allowed to adopt exchange rate arrangements of their choice. In this chapter I discuss the reasons for certain exchange rate behaviour and policies that countries are following. Why some countries’ choice is to peg their currency an ...
malawi economic recovery plan
... rise leading to the cost of borrowing to go up in the country. With this, Government understands that these economic fundamentals needs stabilize by bringing inflation and interest rates down as well as improving liquidity availability in the country. ...
... rise leading to the cost of borrowing to go up in the country. With this, Government understands that these economic fundamentals needs stabilize by bringing inflation and interest rates down as well as improving liquidity availability in the country. ...
what have we learned from recent financial crises and policy
... financial markets of industrial countries and the virtual explosion in the use of derivative instruments (mostly traded in OTC markets). Moreover, international financial markets are increasingly integrated in complex ways, global in scope, and are changing rapidly with respect to the participants, ...
... financial markets of industrial countries and the virtual explosion in the use of derivative instruments (mostly traded in OTC markets). Moreover, international financial markets are increasingly integrated in complex ways, global in scope, and are changing rapidly with respect to the participants, ...
Project Name
... knowledge. Thus, PBCS staff benefit greatly by being able to travel to other countries, see how modern statistics agencies function and learn modern management techniques for statistical agencies. The capacity-building support designed for the PMA is fully in line with the recommendations of the pas ...
... knowledge. Thus, PBCS staff benefit greatly by being able to travel to other countries, see how modern statistics agencies function and learn modern management techniques for statistical agencies. The capacity-building support designed for the PMA is fully in line with the recommendations of the pas ...
financial institutions sentiment survey 2016
... 35% of respondents indicate that they are looking to expand UK operations in the medium term. Considering the current economic environment and fierce competition from other global financial centres such as New York, Hong Kong and Singapore, these growth prospects appear even more significant than at ...
... 35% of respondents indicate that they are looking to expand UK operations in the medium term. Considering the current economic environment and fierce competition from other global financial centres such as New York, Hong Kong and Singapore, these growth prospects appear even more significant than at ...
how to create a country – experience of slovenia
... Commission were radical, although theoretically confused and inconsistent. They began with the premise that social ownership of the means of production was at the heart of the country’s economic problems and urged that the so-called nonproperty concept of social property—whereby everyone and no one ...
... Commission were radical, although theoretically confused and inconsistent. They began with the premise that social ownership of the means of production was at the heart of the country’s economic problems and urged that the so-called nonproperty concept of social property—whereby everyone and no one ...
PDF Download
... sent difference in interest rates is smaller than ever. Thus compared to the recent past there is no particular reason for a portfolio shift in favour of euro assets. Nor is there any clear evidence that growth prospects are better in Europe than in the United States: the crisis is at least as sever ...
... sent difference in interest rates is smaller than ever. Thus compared to the recent past there is no particular reason for a portfolio shift in favour of euro assets. Nor is there any clear evidence that growth prospects are better in Europe than in the United States: the crisis is at least as sever ...
Currency Futures Presentation January 2014
... • Example Rennies will buy Dollars at 10.03 and sell Dollars at 10.27 • The difference of 0.24 cents is known as the spread ...
... • Example Rennies will buy Dollars at 10.03 and sell Dollars at 10.27 • The difference of 0.24 cents is known as the spread ...
chapter 15 exchange-rate adjustments and the balance of payments
... 14. Because of the J-curve effect and partial currency pass-through, a depreciation of the domestic currency tends to increase the size of a: a. Trade surplus in the short run b. Trade surplus in the long run c. Trade deficit in the short run d. Trade deficit in the long run 15. According to the Mar ...
... 14. Because of the J-curve effect and partial currency pass-through, a depreciation of the domestic currency tends to increase the size of a: a. Trade surplus in the short run b. Trade surplus in the long run c. Trade deficit in the short run d. Trade deficit in the long run 15. According to the Mar ...
Currency Futures Presentation January 2014
... • Example Rennies will buy Dollars at 10.03 and sell Dollars at 10.27 • The difference of 0.24 cents is known as the spread ...
... • Example Rennies will buy Dollars at 10.03 and sell Dollars at 10.27 • The difference of 0.24 cents is known as the spread ...
IDEAs Conference on ‘Reforming the Financial System: Proposals, Constraints
... earlier general consensus about the need for regulations even when there were differences on the appropriate policies, today there is a swing backward in regulation. In India, for example, there is almost a consensus in official circles to welcome the recent surge in the inflow of capital – i.e. “ri ...
... earlier general consensus about the need for regulations even when there were differences on the appropriate policies, today there is a swing backward in regulation. In India, for example, there is almost a consensus in official circles to welcome the recent surge in the inflow of capital – i.e. “ri ...
The Strange Case of Domestic Policy Cooperation in the
... particular, it is very possible that monetary policy may be asked to play a role in avoiding the build-up of systemic financial risks (“lean against the wind”). Indeed, such calls have already been made—for example, by the Bank for International Settlements who in their 2014 Annual Report recommende ...
... particular, it is very possible that monetary policy may be asked to play a role in avoiding the build-up of systemic financial risks (“lean against the wind”). Indeed, such calls have already been made—for example, by the Bank for International Settlements who in their 2014 Annual Report recommende ...
Beyond Shocks: What Causes Business Cycles? An Overview
... sum of output lost in all other downturns in the past century. The body of writing on the Great Depression is larger than that on all other business cycles combined. Consideration of the causes of the Great Depression provides useful lessons about the causes of the less prominent cycles of the past ...
... sum of output lost in all other downturns in the past century. The body of writing on the Great Depression is larger than that on all other business cycles combined. Consideration of the causes of the Great Depression provides useful lessons about the causes of the less prominent cycles of the past ...
Do Professional Currency Managers Beat the Benchmark
... individual currency managers. They show that four factors, representing four styles of currency investing, explain a significant part of these returns. The average excess return of the BCTI index was positive at 25 basis points (bps) per month between 1990 and 2006. However, once the authors account ...
... individual currency managers. They show that four factors, representing four styles of currency investing, explain a significant part of these returns. The average excess return of the BCTI index was positive at 25 basis points (bps) per month between 1990 and 2006. However, once the authors account ...
THE CHALLENGE OF ENSURING FULL EMPLOYMENT IN THE TWENTY-FIRST CENTURY Jayati Ghosh*
... recent times, the total industrial employment decreased by more than 8 million workers between 1997 and 2002, and then increased slightly to reach a total of 230 million workers by 2004 (China Statistical Abstract, 2010). This figure has stagnated at around that level since then, even though industr ...
... recent times, the total industrial employment decreased by more than 8 million workers between 1997 and 2002, and then increased slightly to reach a total of 230 million workers by 2004 (China Statistical Abstract, 2010). This figure has stagnated at around that level since then, even though industr ...
Building Better Global Economic BRICs
... Such a development should be accompanied by a reduction in Euroland representation at the G7 from 3 countries to 1, and provide the basis for a significant reform of the G7. In view of the expected continued relative growth of the BRICs, the opportunity should be taken to incorporate China and proba ...
... Such a development should be accompanied by a reduction in Euroland representation at the G7 from 3 countries to 1, and provide the basis for a significant reform of the G7. In view of the expected continued relative growth of the BRICs, the opportunity should be taken to incorporate China and proba ...
CAPITAL BUDGET CARRY FORWARD
... year, after completion of year end accounting. This confirms the capital funding sources including net surplus, depreciation, asset sales and external revenue sources against the budget. b. Unspent funding in any year for approved Group 2, 3 & 4 projects will be carried forward, notwithstanding any ...
... year, after completion of year end accounting. This confirms the capital funding sources including net surplus, depreciation, asset sales and external revenue sources against the budget. b. Unspent funding in any year for approved Group 2, 3 & 4 projects will be carried forward, notwithstanding any ...
Capital Controls and Monetary Policy in Developing Countries
... The globalization of international financial markets has caused a significant increase in emerging countries’ exposure to the risk of capital flow bonanzas or capital flight. In 2007 net debt flows to the developing world were more than 6.5 times as big as they were in 2003; yet, in 2008 these flows ...
... The globalization of international financial markets has caused a significant increase in emerging countries’ exposure to the risk of capital flow bonanzas or capital flight. In 2007 net debt flows to the developing world were more than 6.5 times as big as they were in 2003; yet, in 2008 these flows ...
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.