Public Sector Reform Process in Lesotho: Benefits and Challenges
... GDP in the US is expected to decelerate to 2.2 per cent in 2007. The Euro area is also expected to moderate but remain above potential in response to the monetary and fiscal policy tightening. The emerging economies are likely to continue to remain strong during the period mainly due to the higher p ...
... GDP in the US is expected to decelerate to 2.2 per cent in 2007. The Euro area is also expected to moderate but remain above potential in response to the monetary and fiscal policy tightening. The emerging economies are likely to continue to remain strong during the period mainly due to the higher p ...
Issues on the choice of Exchange Rate Regimes1 Ashwin Moheeput
... are strongly integrated in global capital markets, monetary policy cannot be used as a discretionary policy instrument to meet domestic objectives. For economies whose domestic interest rates are not tightly linked to world interest rates because of capital account restrictions, monetary policy is p ...
... are strongly integrated in global capital markets, monetary policy cannot be used as a discretionary policy instrument to meet domestic objectives. For economies whose domestic interest rates are not tightly linked to world interest rates because of capital account restrictions, monetary policy is p ...
NBER Working Paper Series
... Poland), while supply shocks are positive and strong for France and Poland, while for Germany and Italy is negative and seems relatively week; In Romania’s case, demand disturbances are negatively correlated with the Euro zone and are quite significant for the analyzed period; supply disturbances ar ...
... Poland), while supply shocks are positive and strong for France and Poland, while for Germany and Italy is negative and seems relatively week; In Romania’s case, demand disturbances are negatively correlated with the Euro zone and are quite significant for the analyzed period; supply disturbances ar ...
Monetary Policy at the Zero Lower Bound
... The study of the zero lower bound (ZLB) on nominal interest rates is an example of precisely the opposite: economists first figuring out what works in theory and then seeing if it works in practice. Japan’s experience with price deflation and zero short-term interest rates beginning in the 1990s led ...
... The study of the zero lower bound (ZLB) on nominal interest rates is an example of precisely the opposite: economists first figuring out what works in theory and then seeing if it works in practice. Japan’s experience with price deflation and zero short-term interest rates beginning in the 1990s led ...
Full CV
... 8. Euro: Adaptations and Implications on the Greek Banking System by the Economic and Monetary Union and the Introduction of Euro, Sakkoulas Publishing, 1998. 9. The Greek Banking System’s transition to the Euro Zone. Article in the 3-monthly bulletin of Hellenic Bank Association, 1st quarter 1998. ...
... 8. Euro: Adaptations and Implications on the Greek Banking System by the Economic and Monetary Union and the Introduction of Euro, Sakkoulas Publishing, 1998. 9. The Greek Banking System’s transition to the Euro Zone. Article in the 3-monthly bulletin of Hellenic Bank Association, 1st quarter 1998. ...
Document
... exchange rates and exchange rate systems more than on the issues examined thus far • Countries have numerous choices among exchange rate systems on a continuum from fixed to completely flexible systems • Each type of exchange rate system requires a different set of policies and responds differently ...
... exchange rates and exchange rate systems more than on the issues examined thus far • Countries have numerous choices among exchange rate systems on a continuum from fixed to completely flexible systems • Each type of exchange rate system requires a different set of policies and responds differently ...
Financial and Economic Crisis in Eastern Europe Abstract Rainer Kattel
... The above suggests that most EE economies play a wait-and-see game with the crisis and are betting on the pre-crash FDI and export markets to simply re-appear at one point. In essence, EE countries wait for the exports to pick up again and drag them out of the pit. Here, however, most EE countries f ...
... The above suggests that most EE economies play a wait-and-see game with the crisis and are betting on the pre-crash FDI and export markets to simply re-appear at one point. In essence, EE countries wait for the exports to pick up again and drag them out of the pit. Here, however, most EE countries f ...
PDF
... Smaller deficits would require less dependence on foreign lenders to finance current American spending. To counter charges of'' Monday morning quarterbacking,'' it will be recalled that one of the presidential candidates in 1984, with a backing of many, if not a majority, of mainstream economists, w ...
... Smaller deficits would require less dependence on foreign lenders to finance current American spending. To counter charges of'' Monday morning quarterbacking,'' it will be recalled that one of the presidential candidates in 1984, with a backing of many, if not a majority, of mainstream economists, w ...
Monetary targeting and financial system characteristics: An
... of capital and money within the economy. As a result of these changes, it became difficult for central banks to control domestic credit and broad money supply. Under these circumstances, central banks frequently missed money growth targets and eventually abandoned MT. While there is an extensive lit ...
... of capital and money within the economy. As a result of these changes, it became difficult for central banks to control domestic credit and broad money supply. Under these circumstances, central banks frequently missed money growth targets and eventually abandoned MT. While there is an extensive lit ...
document
... transportation costs or barriers to trade, the same goods sold in different countries sell for the same price if all the different prices are expressed in terms of the same currency. This proposition underlies the PPP relationship. Arbitrage allows the law of one price to hold for commodities th ...
... transportation costs or barriers to trade, the same goods sold in different countries sell for the same price if all the different prices are expressed in terms of the same currency. This proposition underlies the PPP relationship. Arbitrage allows the law of one price to hold for commodities th ...
IMF Financial Operations 2015 -- Appendix 4: Disclosure of
... THE BALANCE SHEET OF A MEMBER’S CENTRAL BANK This appendix elaborates on the final section of Chapter 2 in the text, “Disclosure of Financial Position with the IMF by the Member Countries.”1 The accounting treatment of IMF transactions should reflect the member’s legal and institutional arrangements ...
... THE BALANCE SHEET OF A MEMBER’S CENTRAL BANK This appendix elaborates on the final section of Chapter 2 in the text, “Disclosure of Financial Position with the IMF by the Member Countries.”1 The accounting treatment of IMF transactions should reflect the member’s legal and institutional arrangements ...
Global Financial Instability: Framework, Events, Issues
... then uses this framework to describe what happened during the recent financial crises in Mexico and east Asia. ...
... then uses this framework to describe what happened during the recent financial crises in Mexico and east Asia. ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... against all major currencies. What can be attempted at best is to moderate the average variation of its currency over time and thus moderate the impact of exchange rate variations originating from exogenous factors on its trade and payments. A single currency peg either to the sterling or the dollar ...
... against all major currencies. What can be attempted at best is to moderate the average variation of its currency over time and thus moderate the impact of exchange rate variations originating from exogenous factors on its trade and payments. A single currency peg either to the sterling or the dollar ...
Lecture 3: External Sector Policies
... So, the valuation effect does not arise Devaluation will, at worst, if exports and imports are insensitive to exchange rates (a = b = 0), leave the current account unchanged Hence, if a > 0 or b > 0, devaluation improves the current account ...
... So, the valuation effect does not arise Devaluation will, at worst, if exports and imports are insensitive to exchange rates (a = b = 0), leave the current account unchanged Hence, if a > 0 or b > 0, devaluation improves the current account ...
History of Economics Society Meeting in Toronto, June 25
... operation of the interbank payments system are negligible, it remains the case that a nontrivial quantity of bank deposits and currency are held in order to carry out payments between individuals. Laidler suggests that as a result, the quantity of money is likely still to play an important role in t ...
... operation of the interbank payments system are negligible, it remains the case that a nontrivial quantity of bank deposits and currency are held in order to carry out payments between individuals. Laidler suggests that as a result, the quantity of money is likely still to play an important role in t ...
What Happened to Japan`s Economy in the 1990s?
... No single factor was responsible for Japan’s economic problems during the 1990s. Rather, a wide range of developments, many of which had their origins in earlier periods, can be blamed. Long-term growth has slowed to a rate typical of other advanced countries — around 2 percent annually. Overall pro ...
... No single factor was responsible for Japan’s economic problems during the 1990s. Rather, a wide range of developments, many of which had their origins in earlier periods, can be blamed. Long-term growth has slowed to a rate typical of other advanced countries — around 2 percent annually. Overall pro ...
- ANU Repository
... have fuelled the boom—credit constraints within the domestic economy and higher interest rates on domestic credit actually encouraged financial intermediaries to borrow abroad and to increase the supply of lending (Dooley 1994). Similar errors appear to have been made in Indonesian and Korean macroe ...
... have fuelled the boom—credit constraints within the domestic economy and higher interest rates on domestic credit actually encouraged financial intermediaries to borrow abroad and to increase the supply of lending (Dooley 1994). Similar errors appear to have been made in Indonesian and Korean macroe ...
Commodity Prices in Argentina: What Moves the Wind?
... flows from the center to the periphery. The US real exchange rate, the international real interest rate and the global liquidity coordinate exogenous cycle in countries like Argentina via two channels: the commercial and the financial channel. These variables induce a positive correlation between ch ...
... flows from the center to the periphery. The US real exchange rate, the international real interest rate and the global liquidity coordinate exogenous cycle in countries like Argentina via two channels: the commercial and the financial channel. These variables induce a positive correlation between ch ...
Credibility and Monetary Policy - Federal Reserve Bank of Kansas City
... avoid all output costs, with an extension to J-period lags straightforward. These costs will, nevertheless, be smaller the smaller is the excess of expected over actual inflation rates during the epi~ode.~ The rather different contracts of the type employed in Taylor's models (1980, 1983a)also give ...
... avoid all output costs, with an extension to J-period lags straightforward. These costs will, nevertheless, be smaller the smaller is the excess of expected over actual inflation rates during the epi~ode.~ The rather different contracts of the type employed in Taylor's models (1980, 1983a)also give ...
Globalization of the Chinese Yuan
... ㆍ Malaysia, Bahrain, Libya, Morocco and Iran started to use Islamic Dinar for trade payment instead of the dollar in 2003. □ The US, Europe, Japan and emerging economies have different opinions about international financial order. - Developed countries hope to maintain their own vested rights. ㆍ The ...
... ㆍ Malaysia, Bahrain, Libya, Morocco and Iran started to use Islamic Dinar for trade payment instead of the dollar in 2003. □ The US, Europe, Japan and emerging economies have different opinions about international financial order. - Developed countries hope to maintain their own vested rights. ㆍ The ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... well as the efficiency of the payments and settlement system; the level and adequacy of information and communication facilities; and the availability of adequate, reliable, consistent, timely and high quality information to the Banks. He lay emphases that seeking a proper role for monetary policy i ...
... well as the efficiency of the payments and settlement system; the level and adequacy of information and communication facilities; and the availability of adequate, reliable, consistent, timely and high quality information to the Banks. He lay emphases that seeking a proper role for monetary policy i ...
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.