Modelling for monetary policy: the New Zealand experience
... Bank gained greater control over monetary conditions. But the widespread economic and financial reforms also led to a period of considerable structural change and volatility in asset markets. For monetary policy, there were no stable anchors or guidelines that could be relied on. Inflation expectation ...
... Bank gained greater control over monetary conditions. But the widespread economic and financial reforms also led to a period of considerable structural change and volatility in asset markets. For monetary policy, there were no stable anchors or guidelines that could be relied on. Inflation expectation ...
S R F ?
... onset of the financial crisis prompted the Chinese government to temporarily change its policy due to concerns regarding economic stability. The RMB was unofficially re-pegged to the USD at a rate of 6.83 yuan per dollar. In June 2010, China again lifted the peg and the RMB resumed its appreciation ...
... onset of the financial crisis prompted the Chinese government to temporarily change its policy due to concerns regarding economic stability. The RMB was unofficially re-pegged to the USD at a rate of 6.83 yuan per dollar. In June 2010, China again lifted the peg and the RMB resumed its appreciation ...
Exchange Rates
... gas stations have signs that tell you the dollar price per gallon of gas. For example, you might see a sign that says 1.99/gal. (by the way, I say gas will be below $2/gal again someday). When you and I buy gas we see the price FOR 1 GALLON. I like to say the gas is UNITIZED to 1. But, if we wanted ...
... gas stations have signs that tell you the dollar price per gallon of gas. For example, you might see a sign that says 1.99/gal. (by the way, I say gas will be below $2/gal again someday). When you and I buy gas we see the price FOR 1 GALLON. I like to say the gas is UNITIZED to 1. But, if we wanted ...
Should The Fed Consider Income Inequality When Setting Monetary
... the income ladder. Given that a plurality of Americans are in the middle class (upwards of two-thirds of households, depending on the definition), this isn't necessarily a bad thing. Nor is it in itself unusual. What was different this time around was that low-income and middle-class households were ...
... the income ladder. Given that a plurality of Americans are in the middle class (upwards of two-thirds of households, depending on the definition), this isn't necessarily a bad thing. Nor is it in itself unusual. What was different this time around was that low-income and middle-class households were ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: The International Transmission of Inflation
... Our aim in this chapter is to present evidence on two issues: the relative contributions to inflation in each of these countries of domestic and of international factors, and the relative importance of the channels through which the international factors have operated. The difficulty that arises in ...
... Our aim in this chapter is to present evidence on two issues: the relative contributions to inflation in each of these countries of domestic and of international factors, and the relative importance of the channels through which the international factors have operated. The difficulty that arises in ...
Should The Fed Consider Income Inequality When Setting Monetary
... the income ladder. Given that a plurality of Americans are in the middle class (upwards of two-thirds of households, depending on the definition), this isn't necessarily a bad thing. Nor is it in itself unusual. What was different this time around was that low-income and middle-class households were ...
... the income ladder. Given that a plurality of Americans are in the middle class (upwards of two-thirds of households, depending on the definition), this isn't necessarily a bad thing. Nor is it in itself unusual. What was different this time around was that low-income and middle-class households were ...
The Political Economy of French Monetary Policy Florin Aftalion*
... economy. R. de la Geni~re seems to believe in the quantity theory of money and in the relationship between inflation and monetary growth that it implies; but at the same time he considers that money should not be controlled irrespective of changes in other indicators. Therefore we should have a seco ...
... economy. R. de la Geni~re seems to believe in the quantity theory of money and in the relationship between inflation and monetary growth that it implies; but at the same time he considers that money should not be controlled irrespective of changes in other indicators. Therefore we should have a seco ...
PDF Download
... been significantly less researched. The trend in financial globalization may have increased the importance of external factors for domestic monetary conditions in the US. This, in turn, would imply less independence and control on setting domestic interest rates to successfully shape domestic financ ...
... been significantly less researched. The trend in financial globalization may have increased the importance of external factors for domestic monetary conditions in the US. This, in turn, would imply less independence and control on setting domestic interest rates to successfully shape domestic financ ...
LATIN AMERICA
... “Good things” are associated with more foreign capital inflows but a lower share of FDI Controlling for income, size and openness, lower risk and better institutions do not increase the share of FDI ...
... “Good things” are associated with more foreign capital inflows but a lower share of FDI Controlling for income, size and openness, lower risk and better institutions do not increase the share of FDI ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... The model is a bit of hybrid—there is optimization at home for agents, but the monetary authority follows a crawling peg exchange rate target. Could one consider other monetary policy rules with inflation targeting? The author chooses the NOEM set up with imports as an intermediate input. In this fr ...
... The model is a bit of hybrid—there is optimization at home for agents, but the monetary authority follows a crawling peg exchange rate target. Could one consider other monetary policy rules with inflation targeting? The author chooses the NOEM set up with imports as an intermediate input. In this fr ...
Gold Sterilization and the Recession of 1937-38
... The Roosevelt administration’s decision to take the United States off the gold standard in April 1933 was the proximate cause of the end of the Great Depression and the start of the economic recovery (Temin and Wigmore 1990, Eggertsson 2008). By freeing monetary policy from the constraint of maintai ...
... The Roosevelt administration’s decision to take the United States off the gold standard in April 1933 was the proximate cause of the end of the Great Depression and the start of the economic recovery (Temin and Wigmore 1990, Eggertsson 2008). By freeing monetary policy from the constraint of maintai ...
L12_20110513
... Balance Its Budget 1. Future generations of taxpayers will be burdened by the government’s debt. This will lower the standard of living for these future generations. 2. Budget deficits cause crowding out. Reduced national saving raises interest rates and lowers investment. A lower capital stock redu ...
... Balance Its Budget 1. Future generations of taxpayers will be burdened by the government’s debt. This will lower the standard of living for these future generations. 2. Budget deficits cause crowding out. Reduced national saving raises interest rates and lowers investment. A lower capital stock redu ...
2. I E D
... pattern since 2013. Banco Central do Brasil and Bank Indonesia have been pursuing an aggressive monetary tightening since early 2013, owing to the risks fuelled by the high current account deficit and the aim to bring inflation closer to the target range. Other emerging market central banks, particu ...
... pattern since 2013. Banco Central do Brasil and Bank Indonesia have been pursuing an aggressive monetary tightening since early 2013, owing to the risks fuelled by the high current account deficit and the aim to bring inflation closer to the target range. Other emerging market central banks, particu ...
Subject: OBSERVATIONS IN CTRs BEING FILED BY FINANCIAL
... specifications, then you may email the same to us for uploading into our system. We understand that capturing and subsequent extraction of such information through system may need some modifications into your systems but we are of the opinion that such modifications would help you in efficiently dis ...
... specifications, then you may email the same to us for uploading into our system. We understand that capturing and subsequent extraction of such information through system may need some modifications into your systems but we are of the opinion that such modifications would help you in efficiently dis ...
ECB action and the Spanish economy during the
... lending to the private sector, which was channelled mostly towards construction and realestate activities, these being the most sensitive to long-term interest rates, with a resulting expansion in bank balance sheets and increase in risk incurred (see Chart 1). Membership of the euro area meant not ...
... lending to the private sector, which was channelled mostly towards construction and realestate activities, these being the most sensitive to long-term interest rates, with a resulting expansion in bank balance sheets and increase in risk incurred (see Chart 1). Membership of the euro area meant not ...
Weakness in HK Currency Board System and Trading Opportunities
... Professors Tse and Yip’s research on interest rate behavior in two economies also shows that the monitoring band system in Singapore not only allows a greater flexibility in the choice of the exchange rate, but also a greater autonomy in the choice of interest rates to mitigate a crisis, recession o ...
... Professors Tse and Yip’s research on interest rate behavior in two economies also shows that the monitoring band system in Singapore not only allows a greater flexibility in the choice of the exchange rate, but also a greater autonomy in the choice of interest rates to mitigate a crisis, recession o ...
PART 8: CENTRAL BANKING AND MONETARY POLICY
... reasons that led to the formation of the Bank. In the beginning, the Bank was a private institution which issued stock. In 1936, the Bank was completely nationalized, and by 1938 the government had acquired all of the shares. History: Some of the more salient features of the history of the Bank of C ...
... reasons that led to the formation of the Bank. In the beginning, the Bank was a private institution which issued stock. In 1936, the Bank was completely nationalized, and by 1938 the government had acquired all of the shares. History: Some of the more salient features of the history of the Bank of C ...
The Asian Economic Crisis: The Way Ahead For
... causative factor in the Crisis or whether it represented a fault-line which exacerbated the Crisis. Other analysts downplay the importance of the erosion of international competitiveness and the problem of poor domestic governance. Instead they attribute more blame to the structural deficiencies of ...
... causative factor in the Crisis or whether it represented a fault-line which exacerbated the Crisis. Other analysts downplay the importance of the erosion of international competitiveness and the problem of poor domestic governance. Instead they attribute more blame to the structural deficiencies of ...
New Estimation of China`s Exchange Rate Regime
... deviation. The authorities are unlikely to use the Swiss franc or Canadian dollar in thinking about the size of deviations from their reference point. They are more likely to use a weighted average of major currencies. If we use a similar measure in the equation, it should help minimize the possibil ...
... deviation. The authorities are unlikely to use the Swiss franc or Canadian dollar in thinking about the size of deviations from their reference point. They are more likely to use a weighted average of major currencies. If we use a similar measure in the equation, it should help minimize the possibil ...
The Case Against Floating Exchange Rates
... Floating exchange rates remove two main asymmetries of the Bretton Woods system and allow: Central banks abroad to be able to determine their own domestic money supplies The U.S. to have the same opportunity as other countries to influence its exchange rate against foreign currencies ...
... Floating exchange rates remove two main asymmetries of the Bretton Woods system and allow: Central banks abroad to be able to determine their own domestic money supplies The U.S. to have the same opportunity as other countries to influence its exchange rate against foreign currencies ...
Jean-Claude Trichet: The creation of economic and
... employment rate, from 58% in 1996 to 64.4% in 2006, accompanied by a decline in the aggregate unemployment rate from 10.7% to 7.9%. 3 This is a very encouraging fact, which shows that labour market reforms and immigration may have helped to overcome some of the constraints on growth on the supply si ...
... employment rate, from 58% in 1996 to 64.4% in 2006, accompanied by a decline in the aggregate unemployment rate from 10.7% to 7.9%. 3 This is a very encouraging fact, which shows that labour market reforms and immigration may have helped to overcome some of the constraints on growth on the supply si ...
International Economics: Feenstra/Taylor 2/e
... dismantled, and many nations have encouraged international capital movement by lifting restrictions on financial transactions. Three groups of countries that will figure often in our analysis are: ■ Advanced countries—countries with high levels of income per person that are well integrated into the ...
... dismantled, and many nations have encouraged international capital movement by lifting restrictions on financial transactions. Three groups of countries that will figure often in our analysis are: ■ Advanced countries—countries with high levels of income per person that are well integrated into the ...
overshooting exchange rates
... Sterilization • Sterilization refers to central banks offsetting international reserve flows in order to follow an independent monetary policy. • Suppose the central bank is following some money supply growth path and then money demand increases, leading to reserve inflows. The central bank will st ...
... Sterilization • Sterilization refers to central banks offsetting international reserve flows in order to follow an independent monetary policy. • Suppose the central bank is following some money supply growth path and then money demand increases, leading to reserve inflows. The central bank will st ...
1 Grexit: why it will not happen
... In the current trajectory, the restoration of positive and sustainable output growth is key for Greece and other periphery economies in the euro area to reduce unacceptably high unemployment rates, improve tax collection and increase the quantity (and the quality) o ...
... In the current trajectory, the restoration of positive and sustainable output growth is key for Greece and other periphery economies in the euro area to reduce unacceptably high unemployment rates, improve tax collection and increase the quantity (and the quality) o ...
Working Paper No. 514 The Continuing Legacy of John Maynard
... decisions, as well as on outcomes expected in the future; and the future cannot be known now. [Harcourt (2007) quotes Robinson on the definition of Post-Keynesian economics: “it applies to an economic theory or method of analysis which takes account of the difference between the future and the past. ...
... decisions, as well as on outcomes expected in the future; and the future cannot be known now. [Harcourt (2007) quotes Robinson on the definition of Post-Keynesian economics: “it applies to an economic theory or method of analysis which takes account of the difference between the future and the past. ...
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.