A Policy Model for Analyzing Macroprudential and Monetary Policies Sami Alpanda Gino Cateau
... Recent global …nancial crisis was a reminder that the real economy and the …nancial system are closely linked …nancial system can be a source of shocks amplify/propagate shocks originating elsewhere ...
... Recent global …nancial crisis was a reminder that the real economy and the …nancial system are closely linked …nancial system can be a source of shocks amplify/propagate shocks originating elsewhere ...
Bringing it all together: where does this leave John McDermott
... things I would support, whether or not they made any difference to the amplitude/length of the exchange rate cycle. For example, we should avoid the situation New Zealand found itself in from 2005 to 2008, where increases in government spending exacerbated the imbalances already apparent in an overh ...
... things I would support, whether or not they made any difference to the amplitude/length of the exchange rate cycle. For example, we should avoid the situation New Zealand found itself in from 2005 to 2008, where increases in government spending exacerbated the imbalances already apparent in an overh ...
Theories of Finance and Financial Crisis - Lessons for
... Economic thinking has produced a large variety of models which explain financial crises and their effects on economic development. These models belong to different paradigms, and even within each paradigm there are numerous possible approaches. The aim of this paper is to give an overview of differe ...
... Economic thinking has produced a large variety of models which explain financial crises and their effects on economic development. These models belong to different paradigms, and even within each paradigm there are numerous possible approaches. The aim of this paper is to give an overview of differe ...
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... to the rest of the world. However, world trade and international financial flows will continue to be sluggish by the standards of the 1990s, with exports growing by less than 4 per cent in 2003. Moreover, the stimulus provided by the United States will be reduced for many countries if the recent dep ...
... to the rest of the world. However, world trade and international financial flows will continue to be sluggish by the standards of the 1990s, with exports growing by less than 4 per cent in 2003. Moreover, the stimulus provided by the United States will be reduced for many countries if the recent dep ...
FRBSF E L CONOMIC ETTER
... Another group of economists argues that improvements in the conduct of policy are the main reason why output has become less volatile. By the end of the 1970s, the inflation rate had risen into the double digits and appeared on the verge of rising further. Output growth had been unusually volatile a ...
... Another group of economists argues that improvements in the conduct of policy are the main reason why output has become less volatile. By the end of the 1970s, the inflation rate had risen into the double digits and appeared on the verge of rising further. Output growth had been unusually volatile a ...
MEMORANDUM FOR FROM DATE
... low interest rates here and abroad, the sudden rise in net migration, and strengthening in the labour market, consumer confidence and export incomes. 25. The RBNZ entered this period with a tightening bias, and shifted to a neutral bias at the start of 2001 to account for international risks. The OC ...
... low interest rates here and abroad, the sudden rise in net migration, and strengthening in the labour market, consumer confidence and export incomes. 25. The RBNZ entered this period with a tightening bias, and shifted to a neutral bias at the start of 2001 to account for international risks. The OC ...
hohenheimer diskussionsbeiträge
... herding, the empirical evidence on this subject is still relatively thin. Despite some progress in recent years, measuring the extent of herding still poses a major challenge to empirical analyses. The main problem is that it is difficult to distinguish between fundamental-based contagion and true c ...
... herding, the empirical evidence on this subject is still relatively thin. Despite some progress in recent years, measuring the extent of herding still poses a major challenge to empirical analyses. The main problem is that it is difficult to distinguish between fundamental-based contagion and true c ...
Japanese yen and East-Asian currencies: before and after the Asian
... The purpose of this paper is to investigate whether the role of the Japanese yen in determining the values of East Asian currencies has changed since the 1997 East Asian financial crisis. In particular, this paper focuses on the impact of the Japanese yen on the values of the Indonesian rupiah, the ...
... The purpose of this paper is to investigate whether the role of the Japanese yen in determining the values of East Asian currencies has changed since the 1997 East Asian financial crisis. In particular, this paper focuses on the impact of the Japanese yen on the values of the Indonesian rupiah, the ...
what have we learnt
... had a support payment called ‘the susso’, short for sustenance payments. These varied by State but provided bare minimum support, with strict controls on what could be purchased with the coupons provided. Australia’s exports were much less diversified at that time than they are today, both in terms ...
... had a support payment called ‘the susso’, short for sustenance payments. These varied by State but provided bare minimum support, with strict controls on what could be purchased with the coupons provided. Australia’s exports were much less diversified at that time than they are today, both in terms ...
FRBSF E L CONOMIC ETTER
... As BOJ Governor Fukui (2004a) recently noted, the quantitative easing policy would likely become more stimulative if it were maintained as Japan’s economic recovery solidifies, given that the increased opportunities for profitable investment would normally push interest rates upward in the absence o ...
... As BOJ Governor Fukui (2004a) recently noted, the quantitative easing policy would likely become more stimulative if it were maintained as Japan’s economic recovery solidifies, given that the increased opportunities for profitable investment would normally push interest rates upward in the absence o ...
THE MAKING OF THE TURKISH FINANCIAL CRISIS
... program, rather than a failure to implement it, are the main reason why the boom in capital inflows was much shorter in Turkey than in most other experiments with exchange-rate-based stabilization, and why the crisis broke out before inflation was brought under control. ...
... program, rather than a failure to implement it, are the main reason why the boom in capital inflows was much shorter in Turkey than in most other experiments with exchange-rate-based stabilization, and why the crisis broke out before inflation was brought under control. ...
The euro in the `currency war` - Centre for Economic Policy Research
... became de facto more restrictive than the other major central banks in 2013. This contributed to the relative strength of the euro over that period. As of early 2014, deflationary pressures are tangible. Inflation at constant tax rates stood at an annual level of 1% between April and November 2013 – ...
... became de facto more restrictive than the other major central banks in 2013. This contributed to the relative strength of the euro over that period. As of early 2014, deflationary pressures are tangible. Inflation at constant tax rates stood at an annual level of 1% between April and November 2013 – ...
Carbaugh Intl Econ 8e Chapter 17
... Fiscal & monetary policy: internal effects Fiscal and monetary policy are generally used to achieve internal balance, but their effectiveness depends on the external sector Under a fixed exchange rate system, fiscal policy is more successful in promoting internal balance than is monetary policy ...
... Fiscal & monetary policy: internal effects Fiscal and monetary policy are generally used to achieve internal balance, but their effectiveness depends on the external sector Under a fixed exchange rate system, fiscal policy is more successful in promoting internal balance than is monetary policy ...
pegging to the dollar and the euro
... primarily motivated by trade considerations. On average, only 6 percent of the exports of these countries goes to the US and only 5 1/2 percent of their imports are sourced in the US; Japan is a more important trading partner for these countries. Nor are these countries especially linked to the US e ...
... primarily motivated by trade considerations. On average, only 6 percent of the exports of these countries goes to the US and only 5 1/2 percent of their imports are sourced in the US; Japan is a more important trading partner for these countries. Nor are these countries especially linked to the US e ...
Monetary Policy and the Current Recession
... One conclusion you could draw from this chart is that it is probably too early to tell how deep and long the recession will be. But the GDP profile is not obviously tracking lower than previous recessions yet. Based on the business survey evidence for the current quarter, the fall in GDP over the fi ...
... One conclusion you could draw from this chart is that it is probably too early to tell how deep and long the recession will be. But the GDP profile is not obviously tracking lower than previous recessions yet. Based on the business survey evidence for the current quarter, the fall in GDP over the fi ...
Capital flows, exchange rate trade balances, and all that stuff
... and services or transfers are registered in the current account • When a Lebanese citizen buys a US made product, this is recorded as a debit in the Lebanese BOP and as a credit in the US BOP. ...
... and services or transfers are registered in the current account • When a Lebanese citizen buys a US made product, this is recorded as a debit in the Lebanese BOP and as a credit in the US BOP. ...
Lecture 3 and 4 I.F
... and the price level. Monetary Policy is the management of money – supply and availability - and interest rates. Is one of the tools that the monetary authority of a country uses to influence its economy. Usually this goal is ‘macroeconomic stability’: low unemployment, law rate of inflation-price st ...
... and the price level. Monetary Policy is the management of money – supply and availability - and interest rates. Is one of the tools that the monetary authority of a country uses to influence its economy. Usually this goal is ‘macroeconomic stability’: low unemployment, law rate of inflation-price st ...
The Role of Financial Markets and Institutions(1)
... Describe the role of financial institutions with financial markets ...
... Describe the role of financial institutions with financial markets ...
Currency Boards - Cato Institute
... were widespread prior to World War II, were replaced by central banks after the war, and have made something of a resurgence in the 1990s. This article discusses the distinguishing features of currency boards and central banks. Data that compare the performance of currency boards to that of central ...
... were widespread prior to World War II, were replaced by central banks after the war, and have made something of a resurgence in the 1990s. This article discusses the distinguishing features of currency boards and central banks. Data that compare the performance of currency boards to that of central ...
Trade Alert - (SPY) - Mad Hedge Fund Trader
... *US first look Q3 GDP 2%, up from Q2 1.3% *Weekly jobless claims up -8,000 to 355,000, is positive *Japan Q3 GDP -0.9%, -3.5% YOY *US October retail sales -0.3%-hurricane Sandy effect *US October PPI a very weak -0.2%, 2.2% YOY *HSBC private China PMI 49.5 to 50.2 over 50 for the first time in month ...
... *US first look Q3 GDP 2%, up from Q2 1.3% *Weekly jobless claims up -8,000 to 355,000, is positive *Japan Q3 GDP -0.9%, -3.5% YOY *US October retail sales -0.3%-hurricane Sandy effect *US October PPI a very weak -0.2%, 2.2% YOY *HSBC private China PMI 49.5 to 50.2 over 50 for the first time in month ...
S t
... banks Standard Chartered, HSBC, and, now, Bank of China. During the 1970’s, the banks faced little limitation on money creation. In July of 1982, the HK dollar was depreciating at a rate of 7.7% per year. In 1983, Britain and the People’s Republic were engaged in talks about the terms on which H ...
... banks Standard Chartered, HSBC, and, now, Bank of China. During the 1970’s, the banks faced little limitation on money creation. In July of 1982, the HK dollar was depreciating at a rate of 7.7% per year. In 1983, Britain and the People’s Republic were engaged in talks about the terms on which H ...
Preparing for natural disasters - where does the Reserve Bank fit in
... In recent years the Bank has been giving attention to the policy and operational challenges that it would face in the event of a major natural disaster – that is, one which might be thought to have the potential to cause material disruption to the New Zealand economy and financial markets. While suc ...
... In recent years the Bank has been giving attention to the policy and operational challenges that it would face in the event of a major natural disaster – that is, one which might be thought to have the potential to cause material disruption to the New Zealand economy and financial markets. While suc ...
Fiscal and Monetary Policies Interrelation and Inflation over the
... environment when the monetary authority cannot influence the government‟s deficit path, but is limited to managing the debt created by the deficit path chosen by the fiscal authorities, the monetary authority is not able to influence the inflation rate permanently. Under this scheme the monetary aut ...
... environment when the monetary authority cannot influence the government‟s deficit path, but is limited to managing the debt created by the deficit path chosen by the fiscal authorities, the monetary authority is not able to influence the inflation rate permanently. Under this scheme the monetary aut ...
Chapter 12 - Academic Csuohio
... Compare $100 pair of leather boots made in U.S. with €100 pair of leather boots made in Italy. • Suppose these prices are fixed in local currencies. In 2002 how do their prices compare in dollars? ...
... Compare $100 pair of leather boots made in U.S. with €100 pair of leather boots made in Italy. • Suppose these prices are fixed in local currencies. In 2002 how do their prices compare in dollars? ...
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.