the eurozone and political economic institutions
... fulfill virtually none of the institutional conditions that are widely accepted as necessary for an OCA, and that are for many exemplified by the United States (as discussed in the next section of the review). Most notably, labor markets are far from flexible, with widespread collective bargaining, ...
... fulfill virtually none of the institutional conditions that are widely accepted as necessary for an OCA, and that are for many exemplified by the United States (as discussed in the next section of the review). Most notably, labor markets are far from flexible, with widespread collective bargaining, ...
Social and economic challenges for tomorrow
... As highlighted by both Whitehead’s and Magnus’s essays, the sustainability of Western economies has recently come into question, as debt (both private and public) as a proportion of GDP has substantially risen across Europe and North America. In contrast to the West’s indebtedness and persistent cur ...
... As highlighted by both Whitehead’s and Magnus’s essays, the sustainability of Western economies has recently come into question, as debt (both private and public) as a proportion of GDP has substantially risen across Europe and North America. In contrast to the West’s indebtedness and persistent cur ...
Read the Full Article - Independent Institute
... currently affecting Argentina extend beyond monetary policy. The monetary reform that we offer here should not be understood as a sufficient measure to end the recurrent economic problems in Argentina but as a useful step in that direction. Our plan is an update of the monetary reform for Argentina ...
... currently affecting Argentina extend beyond monetary policy. The monetary reform that we offer here should not be understood as a sufficient measure to end the recurrent economic problems in Argentina but as a useful step in that direction. Our plan is an update of the monetary reform for Argentina ...
monetary policy
... creating a more permanent effect on money supply. The transactions are conducted using the BSP’s holdings of government securities. When the BSP buys securities, it pays for them by directly crediting its counterparty’s Demand Deposit Account with the BSP. ...
... creating a more permanent effect on money supply. The transactions are conducted using the BSP’s holdings of government securities. When the BSP buys securities, it pays for them by directly crediting its counterparty’s Demand Deposit Account with the BSP. ...
The Euro Debt Crisis and Germany`s Euro Trilemma
... surplus position, both the UK and especially the US had large deficit positions prior to the global crisis. These have shrunk since then (US), or may even be on the verge of disappearing today (UK). By contrast, Euroland’s current account position has been fairly balanced throughout the euro’s exist ...
... surplus position, both the UK and especially the US had large deficit positions prior to the global crisis. These have shrunk since then (US), or may even be on the verge of disappearing today (UK). By contrast, Euroland’s current account position has been fairly balanced throughout the euro’s exist ...
Globalizing Capital: A History of the International Monetary System
... external balance. This shift from classic liberalism in the nineteenth century to embedded liberalism in the twentieth diminished the credibility of the authorities’ resolve to defend the currency peg.1 This is where capital controls came in. They loosened the link between domestic and foreign econo ...
... external balance. This shift from classic liberalism in the nineteenth century to embedded liberalism in the twentieth diminished the credibility of the authorities’ resolve to defend the currency peg.1 This is where capital controls came in. They loosened the link between domestic and foreign econo ...
this PDF file - UP School of Economics
... In terms of the emerging economic adjustments moving forward, the depreciation of the US dollar would be matched or complemented by corresponding appreciation of the Chinese yuan. In the US, such a development would improve the competitiveness of the US economy and correct its balance of payments de ...
... In terms of the emerging economic adjustments moving forward, the depreciation of the US dollar would be matched or complemented by corresponding appreciation of the Chinese yuan. In the US, such a development would improve the competitiveness of the US economy and correct its balance of payments de ...
anchoring to the euro (and grouped together)? the case of african
... followed the EMU policy. However, it could be argued that capital controls allow for autonomous monetary policies. While this argument cannot be fully set aside, Veyrune (2007) notes that in 1994 occurred a structural shift in the franc zone, which led to decreasing monetary autonomy. Shortland and ...
... followed the EMU policy. However, it could be argued that capital controls allow for autonomous monetary policies. While this argument cannot be fully set aside, Veyrune (2007) notes that in 1994 occurred a structural shift in the franc zone, which led to decreasing monetary autonomy. Shortland and ...
Gli scenari macroeconomici: crisi del debito, spinte recessive e
... Source: Thomson Reuters-Datastream Charting, ISTAT and Intesa Sanpaolo calculations ...
... Source: Thomson Reuters-Datastream Charting, ISTAT and Intesa Sanpaolo calculations ...
Economic Outlook
... only and for the sole use of the intended recipient. The views and other information provided herein are the current views of Nordea Markets as of the date of this document and are subject to change without notice. This notice is not an exhaustive description of the described product or the risks re ...
... only and for the sole use of the intended recipient. The views and other information provided herein are the current views of Nordea Markets as of the date of this document and are subject to change without notice. This notice is not an exhaustive description of the described product or the risks re ...
Financial Crises in Emerging Market Economies
... Once financial markets have been liberalized, however, powerful business interests that own banks will want to prevent the supervisors from doing their jobs properly, and so prudential supervisors may not act in the public interest. Powerful business interests that contribute heavily to politicians’ ...
... Once financial markets have been liberalized, however, powerful business interests that own banks will want to prevent the supervisors from doing their jobs properly, and so prudential supervisors may not act in the public interest. Powerful business interests that contribute heavily to politicians’ ...
Financial Crises in Emerging Market Economies
... Once financial markets have been liberalized, however, powerful business interests that own banks will want to prevent the supervisors from doing their jobs properly, and so prudential supervisors may not act in the public interest. Powerful business interests that contribute heavily to politicians’ ...
... Once financial markets have been liberalized, however, powerful business interests that own banks will want to prevent the supervisors from doing their jobs properly, and so prudential supervisors may not act in the public interest. Powerful business interests that contribute heavily to politicians’ ...
CHAPTER 17 MACROECONOMIC POLICY IN AN OPEN ECONOMY
... Trade-account surplus more than offsets the capital-account deficit 40. Under a fixed exchange rate system, a contractionary fiscal policy leads to a worsening in a nation’s balance-of-payments position if the resulting: a. Trade-account deficit more than offsets the capital-account surplus ...
... Trade-account surplus more than offsets the capital-account deficit 40. Under a fixed exchange rate system, a contractionary fiscal policy leads to a worsening in a nation’s balance-of-payments position if the resulting: a. Trade-account deficit more than offsets the capital-account surplus ...
Answers to Textbook Problems
... to a point where home interest rates return to their original level Rh,1 and the exchange rate falls back to E1. 2. A fall in a country’s population would reduce money demand, all else being equal, because a smaller population would undertake fewer transactions and thus demand less money. This effec ...
... to a point where home interest rates return to their original level Rh,1 and the exchange rate falls back to E1. 2. A fall in a country’s population would reduce money demand, all else being equal, because a smaller population would undertake fewer transactions and thus demand less money. This effec ...
4 Lectures on the €uropean crisis
... manner over the cycle. The corrective arm sets out the framework for countries to take corrective action in the case of an excessive deficit. The cornerstone of the preventive arm is the country-specific medium-term budgetary objective (MTO), defined in structural terms (i.e. in cyclically adjusted ...
... manner over the cycle. The corrective arm sets out the framework for countries to take corrective action in the case of an excessive deficit. The cornerstone of the preventive arm is the country-specific medium-term budgetary objective (MTO), defined in structural terms (i.e. in cyclically adjusted ...
Foreign exchange rate
... the world than it is borrowing from it – is a net lender. – has a current account surplus, and capital account deficit (assume official settlements=0) • The U.S. is currently a net borrower (but as late as the 1970s it was a net lender.) ...
... the world than it is borrowing from it – is a net lender. – has a current account surplus, and capital account deficit (assume official settlements=0) • The U.S. is currently a net borrower (but as late as the 1970s it was a net lender.) ...
Asia Business Conference 2014 Keynote Address by Masamichi Kono
... inflows to Asia. Wide fluctuations in exchange rates were observed, in particular with regard to currencies of countries in Asia with large current account deficits and smaller foreign exchange reserves. Lately we have experienced more calm in the markets, but we cannot be complacent about the futur ...
... inflows to Asia. Wide fluctuations in exchange rates were observed, in particular with regard to currencies of countries in Asia with large current account deficits and smaller foreign exchange reserves. Lately we have experienced more calm in the markets, but we cannot be complacent about the futur ...
Efficacy of Stabilization Policies
... • If net exports are sensitive to changes in the exchange rate, the IS curve is flatter and rising exchange rates cause more crowding out of exports • If investment are less sensitive to changes in the exchange rate, the IS curve is steeper and rising exchange rates cause less crowding out of export ...
... • If net exports are sensitive to changes in the exchange rate, the IS curve is flatter and rising exchange rates cause more crowding out of exports • If investment are less sensitive to changes in the exchange rate, the IS curve is steeper and rising exchange rates cause less crowding out of export ...
Exchange Rate Policy and Inflation Targeting in Colombia
... terms of trade shocks and the “sudden stop” of 1998-1999 forced the abandonment of the exchange rate bands in September 1999 ...
... terms of trade shocks and the “sudden stop” of 1998-1999 forced the abandonment of the exchange rate bands in September 1999 ...
The challenges for monetary policy
... The Federal Reserve’s expansionary monetary policy has played a fundamental role in the US authorities’ response to the global financial crisis and the Great Recession that followed in its wake. As Chart 1 shows, the length of time it took the economic recovery to pick up speed sustainably led the F ...
... The Federal Reserve’s expansionary monetary policy has played a fundamental role in the US authorities’ response to the global financial crisis and the Great Recession that followed in its wake. As Chart 1 shows, the length of time it took the economic recovery to pick up speed sustainably led the F ...
FORWARD-LOOKING MACROECONOMIC POLICIES 2013
... Making development more inclusive and sustainable can help support growth Inclusive and sustainable development can contribute to supporting broad-based economic growth in the region by stimulating domestic sources of aggregate demand, which can have beneficial spillover effects across the region th ...
... Making development more inclusive and sustainable can help support growth Inclusive and sustainable development can contribute to supporting broad-based economic growth in the region by stimulating domestic sources of aggregate demand, which can have beneficial spillover effects across the region th ...
Forum for Social Economics Contemporary Capitalism as a New
... At the same time, the deregulation of financial markets favored the process of financialization of the economy according to three guidelines. The first was to encourage the participation of households in financial markets through the introduction of defined contribution plans and pension funds, as w ...
... At the same time, the deregulation of financial markets favored the process of financialization of the economy according to three guidelines. The first was to encourage the participation of households in financial markets through the introduction of defined contribution plans and pension funds, as w ...
Monetary Policy after the Crisis introduction Marvin Goodfriend COmmenTaRy
... I agree with qualification. I would not risk, tolerate, or target higher inflation in an attempt to stimulate economic activity at the zero bound on interest rate policy. Central bank stimulus at the zero bound works in only one of two ways. Monetary policy at the zero bound works by taking interest ...
... I agree with qualification. I would not risk, tolerate, or target higher inflation in an attempt to stimulate economic activity at the zero bound on interest rate policy. Central bank stimulus at the zero bound works in only one of two ways. Monetary policy at the zero bound works by taking interest ...
Spillovers of Global Shocks Over Caribbean Countries: So Large
... custom of buying jewelry. After Lehman Brothers, these factors persisted. Moreover, the United States was no longer a safe haven for investors. Moreover, U.S. Treasury bills gave investors almost negative real returns given the drastic drop in interest rates, thus raising gold’s demand as a safe inv ...
... custom of buying jewelry. After Lehman Brothers, these factors persisted. Moreover, the United States was no longer a safe haven for investors. Moreover, U.S. Treasury bills gave investors almost negative real returns given the drastic drop in interest rates, thus raising gold’s demand as a safe inv ...
Economic Reforms in Angola in the General Context of Africa
... The further modernisation of budgetary and financial management methods is perhaps the greatest challenge the Angolan government has taken upon itself. Amongst other initiatives, a modern budget structure has been introduced to reflect the consolidated budget of the public sector (combining the budg ...
... The further modernisation of budgetary and financial management methods is perhaps the greatest challenge the Angolan government has taken upon itself. Amongst other initiatives, a modern budget structure has been introduced to reflect the consolidated budget of the public sector (combining the budg ...
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.