book review: competition, coordination and diversity
... World trade areas have in any case been expanding spontaneously through globalization. More people are integrated into the world economy than ever before, but integration does not and should not imply homogenization. To be sure, some degree of uniformity will result out of mutual self-interest, for ...
... World trade areas have in any case been expanding spontaneously through globalization. More people are integrated into the world economy than ever before, but integration does not and should not imply homogenization. To be sure, some degree of uniformity will result out of mutual self-interest, for ...
Chapter 2 - Journal of Knowledge Globalization
... exchanges. The reports of the IMF show that the global saving rate, defined as the world saving as a fraction of world GDP, was very low in the 2002-2004 period (IMF 2005). A solution for avoiding a global savings shortage, for advanced economies, has been to integrate more actors within the consump ...
... exchanges. The reports of the IMF show that the global saving rate, defined as the world saving as a fraction of world GDP, was very low in the 2002-2004 period (IMF 2005). A solution for avoiding a global savings shortage, for advanced economies, has been to integrate more actors within the consump ...
Economic Review - Econsult Botswana
... other currencies in the short term will continue to be cross exchange rate movements of the currencies in the basket, especially the rand/US dollar rate. With the rand apparently on a depreciating trend against the dollar, the pula is likely to appreciate against the rand and depreciate against the ...
... other currencies in the short term will continue to be cross exchange rate movements of the currencies in the basket, especially the rand/US dollar rate. With the rand apparently on a depreciating trend against the dollar, the pula is likely to appreciate against the rand and depreciate against the ...
This PDF is a selection from a published volume from... Research Volume Title: International Dimensions of Monetary Policy
... recession in 1977 and 1978—a growth recession. So there was a recession about every three or four years. There seemed to be a connection between the fluctuations in real GDP and inflation; each time inflation rose and reached a new peak it was followed by a recession, in boom-bust cycle fashion. The ...
... recession in 1977 and 1978—a growth recession. So there was a recession about every three or four years. There seemed to be a connection between the fluctuations in real GDP and inflation; each time inflation rose and reached a new peak it was followed by a recession, in boom-bust cycle fashion. The ...
ASIAN INITIATIVES
... authors highlight the risks and downside, namely foreign exchange volatility, macro‐ economic instability, non‐inclusive financing, and pro‐cyclicality. The authors propose attention should be given to other institutional financing structures namely more regional and national long‐term ...
... authors highlight the risks and downside, namely foreign exchange volatility, macro‐ economic instability, non‐inclusive financing, and pro‐cyclicality. The authors propose attention should be given to other institutional financing structures namely more regional and national long‐term ...
Ethics and Monetary Theory: Is There a Common Middle Ground?
... and artificially high profit rates. America’s own Federal Reserve System has regularly earned almost 100% on its capital over the past decade, and in 1980 alone netted more than 500% return on capital! Similar cases are found in other economies with a legally protected monetary authority. In additio ...
... and artificially high profit rates. America’s own Federal Reserve System has regularly earned almost 100% on its capital over the past decade, and in 1980 alone netted more than 500% return on capital! Similar cases are found in other economies with a legally protected monetary authority. In additio ...
1 The Aftermath of the Crisis: Regulation, Supervision and the Role
... Harvard Kennedy School, Cambridge, 16 October 2013 Introduction The financial crisis has brought to the fore a number of issues. It has been severe and widespread, and has affected many economies in different and long-lasting ways. Maintaining financial stability has once again become a major conc ...
... Harvard Kennedy School, Cambridge, 16 October 2013 Introduction The financial crisis has brought to the fore a number of issues. It has been severe and widespread, and has affected many economies in different and long-lasting ways. Maintaining financial stability has once again become a major conc ...
Briefing on the work of the Inter-agency Group on Economic and
... agencies should be updated timely (within seconds! after new releases) and consistently. • Objective: automated (without manual intervention) interaction among websites applying SDMX (test : ECB – IMF) • Transition period: structured data flow from national to and among international agencies ...
... agencies should be updated timely (within seconds! after new releases) and consistently. • Objective: automated (without manual intervention) interaction among websites applying SDMX (test : ECB – IMF) • Transition period: structured data flow from national to and among international agencies ...
Newsletter September 2013 - Danielson Financial Group
... unwinding of its easy monetary policy), rallied significantly, as the 10-year Treasury yield fell from 2.88% to 2.69%. So why did the Fed elect not to taper? Fed Chairman Ben Bernanke hinted at several reasons. First, the Fed is concerned about the fiscal battles in Congress over the continuing reso ...
... unwinding of its easy monetary policy), rallied significantly, as the 10-year Treasury yield fell from 2.88% to 2.69%. So why did the Fed elect not to taper? Fed Chairman Ben Bernanke hinted at several reasons. First, the Fed is concerned about the fiscal battles in Congress over the continuing reso ...
zeitschrift für wirtschaftspolitik 1 - Institut für Wirtschaftspolitik an der
... regional co-financing or other financing innovations can reduce disincentives from common pool-financing and overcome reform resistance. Without any such financing side reforms, merely some incremental reforms are consistent with political-economic constraints, he states. Werner Hoyer and Markus Bra ...
... regional co-financing or other financing innovations can reduce disincentives from common pool-financing and overcome reform resistance. Without any such financing side reforms, merely some incremental reforms are consistent with political-economic constraints, he states. Werner Hoyer and Markus Bra ...
Free Enterprise and Central Banking in Formerly
... use for their physical and, human resources. Private ownership provides the incentive to use resources productively. Governments of countries desiring to make the transition to a market economy must protect private property rights. Instead of assigning property rights directly, they must * In wester ...
... use for their physical and, human resources. Private ownership provides the incentive to use resources productively. Governments of countries desiring to make the transition to a market economy must protect private property rights. Instead of assigning property rights directly, they must * In wester ...
Economic Policy in the Open Economy Under Fixed Exchange Rates
... monetary policy is ineffective at increasing national income. • When capital is relatively immobile, monetary policy is ineffective at increasing national income. ...
... monetary policy is ineffective at increasing national income. • When capital is relatively immobile, monetary policy is ineffective at increasing national income. ...
Can the Euro rival the United States dollar and become the world
... The European debt crisis and the current ongoing disputes within some members of the EU are casting a substantial doubt over the future of the EU. As European citizens continue to fervently protest the austerity measures that are being implemented in the hopes of reducing the major budget deficits, ...
... The European debt crisis and the current ongoing disputes within some members of the EU are casting a substantial doubt over the future of the EU. As European citizens continue to fervently protest the austerity measures that are being implemented in the hopes of reducing the major budget deficits, ...
Test 6 - Sections 7 & 8 - Vocab Review
... GDP per capita, or any other variable that grows gradually over time, to double is approximately 70 divided by that variable’s annual growth rate. _____output per worker. _____a reduction in the value of a currency that is set under a fixed exchange rate regime. ...
... GDP per capita, or any other variable that grows gradually over time, to double is approximately 70 divided by that variable’s annual growth rate. _____output per worker. _____a reduction in the value of a currency that is set under a fixed exchange rate regime. ...
The Foreign Exchange Market
... The foreign exchange market is not located in any one place. It is a global network of banks, bankers and foreign exchange dealers connected by electronic communications systems. When companies wish to convert currencies, they typically go through their own banks rather than entering the market dire ...
... The foreign exchange market is not located in any one place. It is a global network of banks, bankers and foreign exchange dealers connected by electronic communications systems. When companies wish to convert currencies, they typically go through their own banks rather than entering the market dire ...
econ stor How to spend it: Commodity and non-commodity sovereign wealth funds
... 1982). A resource boom affects the economy through the resource movement effect and through the spending effect. For Dutch Disease to arise and become a serious policy issue, there must be other sectors for which the rise in the real exchange rate would create problems relating to competitiveness. ...
... 1982). A resource boom affects the economy through the resource movement effect and through the spending effect. For Dutch Disease to arise and become a serious policy issue, there must be other sectors for which the rise in the real exchange rate would create problems relating to competitiveness. ...
The ECB`s Expanded Asset Purchase Programme
... those concerns, since it considered that the programme complies with Articles 119 and 127 TFEU, provided that the ECB refrains from any direct involvement in the financial assistance programmes to which the programme is linked, and complies strictly with the obligation to state reasons and with the ...
... those concerns, since it considered that the programme complies with Articles 119 and 127 TFEU, provided that the ECB refrains from any direct involvement in the financial assistance programmes to which the programme is linked, and complies strictly with the obligation to state reasons and with the ...
The Antecedents and Aftermath of Financial Crises as Told by
... countries. In our more “politically correct” time, we call them emerging markets when the countries in question are middle income and developing countries when they are low income. Carlos often liked to refer to the advanced and emerging country groups as “North” and “South,” respectively. Whatever ...
... countries. In our more “politically correct” time, we call them emerging markets when the countries in question are middle income and developing countries when they are low income. Carlos often liked to refer to the advanced and emerging country groups as “North” and “South,” respectively. Whatever ...
the BP Curve
... monetary policy is ineffective at increasing national income. • When capital is relatively immobile, monetary policy is ineffective at increasing national income. ...
... monetary policy is ineffective at increasing national income. • When capital is relatively immobile, monetary policy is ineffective at increasing national income. ...
G-7 recommends vigilance on hedge funds
... including "pressing for greater exchange-rate flexibility in China." ...
... including "pressing for greater exchange-rate flexibility in China." ...
10Reasons You Should Invest in Gold 10Reasons You Should
... causing the next phase in the gold market to have a massive increase. This has led There has never been a fiat currency that to central banks aggressively retained purchasing power for a significant buying gold. The global debt is unmanageable, and countries period of time. will have no choice but t ...
... causing the next phase in the gold market to have a massive increase. This has led There has never been a fiat currency that to central banks aggressively retained purchasing power for a significant buying gold. The global debt is unmanageable, and countries period of time. will have no choice but t ...
Working Paper # 11 EVERYTHING IS NOT A BUBBLE When The
... Many books written after a financial or economic crisis including the collapse of a major bubble seem primarily designed to shock and scare the reader with respect to the just past economic catastrophe and the one looming just around the corner. Indeed after an economic crisis such as the recent Gre ...
... Many books written after a financial or economic crisis including the collapse of a major bubble seem primarily designed to shock and scare the reader with respect to the just past economic catastrophe and the one looming just around the corner. Indeed after an economic crisis such as the recent Gre ...
Macroeconomic policy
... massive non-payments emerged • First half of 1994 (Chernomyrdin). Tightening monetary policy allowed to bring down inflation to 5% a month in summer 1994; again, nonpayments increased • mid 1995: exchange rate based stabilization; inflation brought down to 6% a year (July 1998 to July 1997); currenc ...
... massive non-payments emerged • First half of 1994 (Chernomyrdin). Tightening monetary policy allowed to bring down inflation to 5% a month in summer 1994; again, nonpayments increased • mid 1995: exchange rate based stabilization; inflation brought down to 6% a year (July 1998 to July 1997); currenc ...
INTERNATIONAL FINANCE REVISITED
... due to wars; EU due to unsustainable welfare states) • The US, more concerned about unemployment than inflation, keeps interest rate close to zero, pumping in liquidity. • Europe, less tolerant toward inflation, more concerned about sovereign debt problem and fearful of the contagion from PIIGS is s ...
... due to wars; EU due to unsustainable welfare states) • The US, more concerned about unemployment than inflation, keeps interest rate close to zero, pumping in liquidity. • Europe, less tolerant toward inflation, more concerned about sovereign debt problem and fearful of the contagion from PIIGS is s ...
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.