Document
... A unit of account made up of a weighted basket of currencies of the countries in the European Monetary System ...
... A unit of account made up of a weighted basket of currencies of the countries in the European Monetary System ...
Preview - American Economic Association
... specific laundry list of policies (such as the Washington Consensus or the governance reforms that are in fashion currently). Second, all successful countries have followed what one might call “productivist” policies. These are activist policies aimed at enhancing the profitability of modern industr ...
... specific laundry list of policies (such as the Washington Consensus or the governance reforms that are in fashion currently). Second, all successful countries have followed what one might call “productivist” policies. These are activist policies aimed at enhancing the profitability of modern industr ...
Working Paper - Hans-Böckler
... globalization. According to structural Keynesian theory there is both a supply- and demand-side to the global imbalance problem. The supply-side reflects the new production paradigm that underlies neoliberal globalization. The demand-side reflects the Keynesian theory of hegemonic currencies (Palle ...
... globalization. According to structural Keynesian theory there is both a supply- and demand-side to the global imbalance problem. The supply-side reflects the new production paradigm that underlies neoliberal globalization. The demand-side reflects the Keynesian theory of hegemonic currencies (Palle ...
Internationalization of Renminbi: What does the Evidence Suggest?
... 1949 shortly before the communist takeover of the Mainland to fight the hyperinflation that plagued the Middle Kingdom under the Kuomintang government (Financial Times 2008). Ever since the opening up of the Chinese economy in the late 1970s the RMB has mostly been kept undervalued as part of Beijin ...
... 1949 shortly before the communist takeover of the Mainland to fight the hyperinflation that plagued the Middle Kingdom under the Kuomintang government (Financial Times 2008). Ever since the opening up of the Chinese economy in the late 1970s the RMB has mostly been kept undervalued as part of Beijin ...
View/Open
... recipe for the economic growth and state prosperity lies in the adoption of measures of the so-called Washington consensus, the adoption of the economic measures like: customs abolishing, “opening of the economy“,“free markets“, „integration into the global economy“,“free trade“, etc. However, those ...
... recipe for the economic growth and state prosperity lies in the adoption of measures of the so-called Washington consensus, the adoption of the economic measures like: customs abolishing, “opening of the economy“,“free markets“, „integration into the global economy“,“free trade“, etc. However, those ...
Gold Wars: Military Conflicts, Gold and Currency Crises
... The most impressive example of a nation with healthy money was Byzantium. In keeping with the ancient tradition of stable money in Greece, Emperor Constantine decreed the creation of a new coin named the solidus. For over 800 years, the solidus served as a global currency, circulating from China to ...
... The most impressive example of a nation with healthy money was Byzantium. In keeping with the ancient tradition of stable money in Greece, Emperor Constantine decreed the creation of a new coin named the solidus. For over 800 years, the solidus served as a global currency, circulating from China to ...
directorate general economics
... possesses multiple equilibria, so that an especially large negative shock may push it into a permanent underemployment equilibrium. Over the last three decades a branch of macroeconomic research has further explored the idea, proposed by Keynes in ‘The General Theory’, that the economy may possess a ...
... possesses multiple equilibria, so that an especially large negative shock may push it into a permanent underemployment equilibrium. Over the last three decades a branch of macroeconomic research has further explored the idea, proposed by Keynes in ‘The General Theory’, that the economy may possess a ...
International Finance and Growth in Developing Countries: What
... Furthermore, even outside of China and the oil surplus regions, reserve accumulation has been much more rapid recently. There are two implications for financial stability. First, countries running current account surpluses do not have an external borrowing need that might suddenly be eliminated by c ...
... Furthermore, even outside of China and the oil surplus regions, reserve accumulation has been much more rapid recently. There are two implications for financial stability. First, countries running current account surpluses do not have an external borrowing need that might suddenly be eliminated by c ...
Currency derivatives and the disconnection between exchange rate
... favorable for economic activity, including international trade if business cycles move out of sync. Failure to control for monetary autonomy could lead to underestimation of the effect of exchange rate volatility on trade. We find some evidence that autonomy in monetary policy is positively correlat ...
... favorable for economic activity, including international trade if business cycles move out of sync. Failure to control for monetary autonomy could lead to underestimation of the effect of exchange rate volatility on trade. We find some evidence that autonomy in monetary policy is positively correlat ...
Document
... An easy monetary policy shifts LM to LM’ which lowers interest to 3.5% at E”. This leads to capital outflows and depreciation, which shifts the IS to IS’ and LM shifts little back to LM” (real MS falls as P increase), such that IS’, LM” and BP cross at point F where Y=1500 (full employment). Interna ...
... An easy monetary policy shifts LM to LM’ which lowers interest to 3.5% at E”. This leads to capital outflows and depreciation, which shifts the IS to IS’ and LM shifts little back to LM” (real MS falls as P increase), such that IS’, LM” and BP cross at point F where Y=1500 (full employment). Interna ...
International Finance and the Foreign Exchange
... fixed exchange rate while following a monetary policy more expansionary than that of the country to which the domestic currency is tied. ...
... fixed exchange rate while following a monetary policy more expansionary than that of the country to which the domestic currency is tied. ...
( )
... the stock markets. The losses were seen in both the emerging markets and the developed markets (Table II). This had two implications; the first one was the uncertainty created in the markets resulted in a loss of confidence in the whole emerging market area. The second one was in order to overcome ...
... the stock markets. The losses were seen in both the emerging markets and the developed markets (Table II). This had two implications; the first one was the uncertainty created in the markets resulted in a loss of confidence in the whole emerging market area. The second one was in order to overcome ...
CURRENT ACCOUNT DEFICIT AS PERCENTAGE OF GDP Global
... residents and non-resident entities. As per the current 5th edition of the Balance of Payment Manual, the main categories of the current account are goods, services, income (compensation of employees and investment income) and current transfers. The counterparts of the current account are the capit ...
... residents and non-resident entities. As per the current 5th edition of the Balance of Payment Manual, the main categories of the current account are goods, services, income (compensation of employees and investment income) and current transfers. The counterparts of the current account are the capit ...
Global Capital and National Governments - Assets
... constrains all governments, but that the poorest nations experience the most severe tyranny. For international and comparative political economy as well, the validity of the protestors’ claim is a central issue. To what extent and in what ways do international financial markets influence, or even dict ...
... constrains all governments, but that the poorest nations experience the most severe tyranny. For international and comparative political economy as well, the validity of the protestors’ claim is a central issue. To what extent and in what ways do international financial markets influence, or even dict ...
GLOBAL IMBALANCES, UNDER-CONSUMPTION AND
... imbalances after the 2008-2009 crisis. An alternative scenario exemplifies the case in which China and India shift towards internal income redistribution and domestic demand orientated policies and suggests that this will not be sufficient to correct global imbalances or induce improved growth rates ...
... imbalances after the 2008-2009 crisis. An alternative scenario exemplifies the case in which China and India shift towards internal income redistribution and domestic demand orientated policies and suggests that this will not be sufficient to correct global imbalances or induce improved growth rates ...
Central Bank of Nigeria Communiqué` No. 102 of the Monetary
... On the external front, the adverse effect of the protracted decline in global crude oil prices on the fiscal position of government is becoming increasingly obvious. The expected policy normalization in the US could accentuate capital flow reversals from emerging and developing ...
... On the external front, the adverse effect of the protracted decline in global crude oil prices on the fiscal position of government is becoming increasingly obvious. The expected policy normalization in the US could accentuate capital flow reversals from emerging and developing ...
PPT
... “Just get prices right” “Growth would have been even faster if reforms had enabled intervention to be reduced.” ...
... “Just get prices right” “Growth would have been even faster if reforms had enabled intervention to be reduced.” ...
Kaminisky, Graciela L
... Empirical Indicators,” Journal of International Economics, 41, 351-367. A panel annual data for over 100 developing countries from 1971 to 1992. Define a currency crash: 4 problems need to be solved: a. Should currency crashes be limited to episode that end in a large fall in the value of the curren ...
... Empirical Indicators,” Journal of International Economics, 41, 351-367. A panel annual data for over 100 developing countries from 1971 to 1992. Define a currency crash: 4 problems need to be solved: a. Should currency crashes be limited to episode that end in a large fall in the value of the curren ...
the impact of global crisis on romania`s economic development
... At the first signs of the financial crisis in the United States it was supposed that the advanced economies of Europe shouldn’t be affected, but the real estate markets in some countries (United Kingdom, Ireland, Spain) entered the crisis in 2008, suffering significant losses and triggering panic th ...
... At the first signs of the financial crisis in the United States it was supposed that the advanced economies of Europe shouldn’t be affected, but the real estate markets in some countries (United Kingdom, Ireland, Spain) entered the crisis in 2008, suffering significant losses and triggering panic th ...
What Priorities and Strategy Should the G-20 Adopt for
... “While the mainland states such as Burma, Siam, and Cochinchina …may may have been able to sustain their earlier development …, it is apparent that the period from 1650 to 1800 was one of at least stagnation if not decline in the living standards of the population of the main Indonesian islands and ...
... “While the mainland states such as Burma, Siam, and Cochinchina …may may have been able to sustain their earlier development …, it is apparent that the period from 1650 to 1800 was one of at least stagnation if not decline in the living standards of the population of the main Indonesian islands and ...
United Parcel Service Financial Challenges in a Developed or
... segment by increasing export volume to 12.5 percent from 8.5 percent, operating profit each all time high of $1 billion, and operating margins increased to 16.6 percent from 10.5 percent, which is leading all other international package industries. For example, the organization’s international packa ...
... segment by increasing export volume to 12.5 percent from 8.5 percent, operating profit each all time high of $1 billion, and operating margins increased to 16.6 percent from 10.5 percent, which is leading all other international package industries. For example, the organization’s international packa ...
Five Over Five - Research and Perspectives
... group which includes Australia, New Zealand and Canada, then the U.S. and the UK, thirdly Europe, and with Japan bringing up the rear. China, now the world’s No. 2 economy, is, although slowing, in a league of its own, with official GDP near 7% today and unofficial estimates ranging around 5%. Apart ...
... group which includes Australia, New Zealand and Canada, then the U.S. and the UK, thirdly Europe, and with Japan bringing up the rear. China, now the world’s No. 2 economy, is, although slowing, in a league of its own, with official GDP near 7% today and unofficial estimates ranging around 5%. Apart ...
NBER WORKING PAPER SERIES SELF-VALIDATING OPTIMUM CURRENCY AREAS Giancarlo Corsetti Paolo Pesenti
... do not meet the optimality criteria ex-ante. The argument is that the elimination of foreign exchange transaction costs has real effects and foster economic integration. To the extent that economic integration enhances intra-industry trade rather than product specialization, national business cycles ...
... do not meet the optimality criteria ex-ante. The argument is that the elimination of foreign exchange transaction costs has real effects and foster economic integration. To the extent that economic integration enhances intra-industry trade rather than product specialization, national business cycles ...
Document
... bank’s foreign exchange intervention must adjust the money supply so that: MS/P = L(R*, Y) – Example: Suppose the central bank has been fixing E at E0 and that asset markets are in equilibrium. An increase in output would raise the money demand and thus lead to a higher interest rate and an apprecia ...
... bank’s foreign exchange intervention must adjust the money supply so that: MS/P = L(R*, Y) – Example: Suppose the central bank has been fixing E at E0 and that asset markets are in equilibrium. An increase in output would raise the money demand and thus lead to a higher interest rate and an apprecia ...
Why Has There Been Less Financial Integration in Asia Than in Europe?
... is not quite as bad as the preceding paragraph suggests, since we have data on claims by banks in reporting Asian countries broken down not only into claims on one another but also into claims on other Asian countries (including China, Indonesia, Malaysia, Philippines, and Thailand, as noted above), ...
... is not quite as bad as the preceding paragraph suggests, since we have data on claims by banks in reporting Asian countries broken down not only into claims on one another but also into claims on other Asian countries (including China, Indonesia, Malaysia, Philippines, and Thailand, as noted above), ...
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.