Abstract - Covenant University Repository
... development of securities markets, in particular the stock market. Stock market is viewed as a medium to encourage savings, help channel savings into productive investment, and to improve the efficiency and productivity of investments, (Ali,1995). The emphasis on the growth of stock markets for dome ...
... development of securities markets, in particular the stock market. Stock market is viewed as a medium to encourage savings, help channel savings into productive investment, and to improve the efficiency and productivity of investments, (Ali,1995). The emphasis on the growth of stock markets for dome ...
1 An Alternative Stability and Growth Pact for the European Union
... A government which aims to avoid an `excessive’ budget deficit of more than 3 per cent of GDP would have to ensure that the 3 per cent limit is not breached during economic slowdown; and hence that the average deficit during the course of the business cycle would have to be much lower than 3 per ce ...
... A government which aims to avoid an `excessive’ budget deficit of more than 3 per cent of GDP would have to ensure that the 3 per cent limit is not breached during economic slowdown; and hence that the average deficit during the course of the business cycle would have to be much lower than 3 per ce ...
Financing the MDGs and green growth CHAPTER TWO
... Under the prevailing economic orthodoxy of the “Washington Consensus”, the general rule of thumb has thus been that the fiscal deficit should be limited to around 3% of GDP for all countries, regardless of their economic conditions. Curiously, this target was first set in the European Union as a par ...
... Under the prevailing economic orthodoxy of the “Washington Consensus”, the general rule of thumb has thus been that the fiscal deficit should be limited to around 3% of GDP for all countries, regardless of their economic conditions. Curiously, this target was first set in the European Union as a par ...
Potential and Limitations of Pro-Poor Macroeconomics: An Overview Giovanni Andrea Cornia
... fiscal policies take effect more quickly and generate a bigger depressive effect than the supposedly expansionary exchange rate policies. Second, large and rapid deficit reductions entail a fall in revenue that requires more fiscal cuts. Third, capital markets tend to exacerbate the problem as they ...
... fiscal policies take effect more quickly and generate a bigger depressive effect than the supposedly expansionary exchange rate policies. Second, large and rapid deficit reductions entail a fall in revenue that requires more fiscal cuts. Third, capital markets tend to exacerbate the problem as they ...
Slide 1
... and the price level cannot be divorced from each other. ◦ Both exchange rates and prices respond to the same set of shocks and both can be influenced by same set of policies. ...
... and the price level cannot be divorced from each other. ◦ Both exchange rates and prices respond to the same set of shocks and both can be influenced by same set of policies. ...
How can Asia insulate itself?
... proposals from European policy leaders are unlikely to conclusively resolve the sovereign debt crisis, they believe it could put a floor to risk sentiment as it may avert a full-blown financial crisis. The recent announcements from Europe appear to involve a 50% private sector involvement (PSI) or h ...
... proposals from European policy leaders are unlikely to conclusively resolve the sovereign debt crisis, they believe it could put a floor to risk sentiment as it may avert a full-blown financial crisis. The recent announcements from Europe appear to involve a 50% private sector involvement (PSI) or h ...
Financial markets and cliometrics
... The repeated occurrence of financial crises, especially the unexpected length of recovery from the global crisis that began in 2007, continues to generate interest in historical studies of financial markets. Each crisis seems to elicit the reaction of what went wrong this time? Then, why didn’t we l ...
... The repeated occurrence of financial crises, especially the unexpected length of recovery from the global crisis that began in 2007, continues to generate interest in historical studies of financial markets. Each crisis seems to elicit the reaction of what went wrong this time? Then, why didn’t we l ...
exchange rate
... glut” that had pushed down interest rates worldwide. What caused this global savings glut? According to Bernanke, the main cause was the series of financial crises that began in Thailand in 1997; moved across much of Asia; then hit Russia in 1998, Brazil in 1999, and Argentina in ...
... glut” that had pushed down interest rates worldwide. What caused this global savings glut? According to Bernanke, the main cause was the series of financial crises that began in Thailand in 1997; moved across much of Asia; then hit Russia in 1998, Brazil in 1999, and Argentina in ...
CHAPTER 2 SUGGESTED ANSWERS TO CHAPTER 2 QUESTIONS
... at the expense of a lower living standards for their populations (who find foreign goods and services more expensive). b. ...
... at the expense of a lower living standards for their populations (who find foreign goods and services more expensive). b. ...
NBER WORKING PAPER SERIES SWISS EXCHANGE RATE POLICY IN THE 1930S.
... some of the gold bloc countries (notably France), was affected later and less than others. To some extent, the relative favorable conditions in 1930 and 1931 reflected the impetus from strong capital inflows, which allowed for a substantial expansion of the money supply (see below) and supported pro ...
... some of the gold bloc countries (notably France), was affected later and less than others. To some extent, the relative favorable conditions in 1930 and 1931 reflected the impetus from strong capital inflows, which allowed for a substantial expansion of the money supply (see below) and supported pro ...
Chapter 10 - University of Alberta
... • In a fixed-exchange-rate system exchange rates are set at officially determined levels. • The official rates are maintained by the commitment of nations’ central banks to buy and sell their own currencies at the fixed exchange rate. ...
... • In a fixed-exchange-rate system exchange rates are set at officially determined levels. • The official rates are maintained by the commitment of nations’ central banks to buy and sell their own currencies at the fixed exchange rate. ...
Exchange Rate Policy Macro_Module_43
... Module 43 Exchange Rate Policy KRUGMAN'S MACROECONOMICS for AP* Margaret Ray and David Anderson ...
... Module 43 Exchange Rate Policy KRUGMAN'S MACROECONOMICS for AP* Margaret Ray and David Anderson ...
IOSR Journal of Business and Management (IOSR-JBM)
... Morander and Schmidt (2002) examined the role of the inflation targeting in achieving price stability in Chile using vector autoregressive models. The VARs models used six endogenous variables (interest rates, wages, GDP, consumer price index, money supply and nominal exchange rate) and two endogeno ...
... Morander and Schmidt (2002) examined the role of the inflation targeting in achieving price stability in Chile using vector autoregressive models. The VARs models used six endogenous variables (interest rates, wages, GDP, consumer price index, money supply and nominal exchange rate) and two endogeno ...
How Financialization Shaped Twentieth Century Marketing
... deposits – Deutschemark savings of German consumers, barred from moving money into foreign currencies and with spending curtailed by import controls – found their way into the war coffers of the Third Reich: Aggregate savings deposits increased 110 percent between 1929 and 1938 more rapidly than ear ...
... deposits – Deutschemark savings of German consumers, barred from moving money into foreign currencies and with spending curtailed by import controls – found their way into the war coffers of the Third Reich: Aggregate savings deposits increased 110 percent between 1929 and 1938 more rapidly than ear ...
Why and when to introduce a single currency in ECOWAS
... • The creation of a single currency in West Africa remains a timely and relevant project, despite post Euro zone crisis uncertainties and the postponement, for the fourth consecutive time, of the introduction of a single currency in member countries of the West African Monetary Zone (WAMZ). • In tod ...
... • The creation of a single currency in West Africa remains a timely and relevant project, despite post Euro zone crisis uncertainties and the postponement, for the fourth consecutive time, of the introduction of a single currency in member countries of the West African Monetary Zone (WAMZ). • In tod ...
The Trade Deficit: The Biggest Obstacle to Full Employment
... The value of the dollar relative to foreign currencies is a major factor influencing the trade deficit, and in this regard it is important to recognize that the value of the dollar is in part a policy variable. This doesn’t mean that we can simply set any value of the dollar we want, just as the Fed ...
... The value of the dollar relative to foreign currencies is a major factor influencing the trade deficit, and in this regard it is important to recognize that the value of the dollar is in part a policy variable. This doesn’t mean that we can simply set any value of the dollar we want, just as the Fed ...
Monetary Integration, Partisanship, and
... macroeconomic costs of militancy. But when interest rates are set for a whole region by a single central bank, the wage demands of any particular national union will not have much of an effect on these rates. The costs of militancy can therefore be externalized, and wage restraint and employment wil ...
... macroeconomic costs of militancy. But when interest rates are set for a whole region by a single central bank, the wage demands of any particular national union will not have much of an effect on these rates. The costs of militancy can therefore be externalized, and wage restraint and employment wil ...
Global Financial Crisis and Growth Prospects in Asia
... Among the hardest hit by the global financial crisis are the developing Asian economies even though they are geographically away from the crisis epicenters in the United States (US) and European Union (EU). This paper empirically examines the channels through which the global financial crisis propel ...
... Among the hardest hit by the global financial crisis are the developing Asian economies even though they are geographically away from the crisis epicenters in the United States (US) and European Union (EU). This paper empirically examines the channels through which the global financial crisis propel ...
Monetary Policy in the Post Keynesian Theoretical Framework
... te demand function, where it is intersected by the aggregate supply function, will be called the effective demand”. In light of this definition, whenever in aggregate the production costs are greater than the sale-proceeds, there is an insufficiency of effective demand and entrepreneurs would not p ...
... te demand function, where it is intersected by the aggregate supply function, will be called the effective demand”. In light of this definition, whenever in aggregate the production costs are greater than the sale-proceeds, there is an insufficiency of effective demand and entrepreneurs would not p ...
RTMU N DELHI EXCHANGE RATE MECHANISM TREASURY
... USD/INR 44.80/85, GBP/USD 1.5210/15 What rate importer in GBP buy GBP against INR? 44.85x 1.5215= 68.2400. ...
... USD/INR 44.80/85, GBP/USD 1.5210/15 What rate importer in GBP buy GBP against INR? 44.85x 1.5215= 68.2400. ...
BULLETIN FINANCIAL EDUCATION ISSUE 34 MARCH 2015
... Kuruş, the CBRT aimed at increasing domestic savings, which was an important structural target for the Turkish economy and which had been low for a long time, and encouraging the use of kuruş. The primary objective of the publicity campaign is to increase savings awareness and to encourage the use o ...
... Kuruş, the CBRT aimed at increasing domestic savings, which was an important structural target for the Turkish economy and which had been low for a long time, and encouraging the use of kuruş. The primary objective of the publicity campaign is to increase savings awareness and to encourage the use o ...
Currency Crises in Asia and Lain America: A Comparison Shoji
... exchange rate risks, and it was also indispensable for Latin American countries as an anchor policy to control inflation. However fixed exchange rate inevitably leads to currency appreciation that would weaken international competitiveness. On the other hand, trade liberalization generally increase ...
... exchange rate risks, and it was also indispensable for Latin American countries as an anchor policy to control inflation. However fixed exchange rate inevitably leads to currency appreciation that would weaken international competitiveness. On the other hand, trade liberalization generally increase ...
exchange-rates - Open Computing Facility
... the interest rate (rUS) is the rate of return of dollar assets. Conversely the foreign interest rate (rfx) is the rate of return on foreign assets. If the Fed lowers the interest rate target, then the dollar will depreciate. If you do not remember how the Fed is able to lower the interest rate throu ...
... the interest rate (rUS) is the rate of return of dollar assets. Conversely the foreign interest rate (rfx) is the rate of return on foreign assets. If the Fed lowers the interest rate target, then the dollar will depreciate. If you do not remember how the Fed is able to lower the interest rate throu ...
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.