Post-NPM and Governance Redefi ned Instituting a whole-of-government
... A vast amount of literature covers the subject of globalisation. Since the 1980s the term “globalisation” has become a core concept in both political and academic debates. Globalisation is used as a generic term that refers to a variety of economic processes where the barriers between national marke ...
... A vast amount of literature covers the subject of globalisation. Since the 1980s the term “globalisation” has become a core concept in both political and academic debates. Globalisation is used as a generic term that refers to a variety of economic processes where the barriers between national marke ...
Asset-based Reserve Requirements: Reasserting
... applying to stock market investors. They require that agents buying stock with broker-provided credit have liquid financial collateral equal to a specified percent of the loan (i.e. they are a liability-to-asset link).3 The system of ABRRs proposed in this paper has some institutional precedents. Re ...
... applying to stock market investors. They require that agents buying stock with broker-provided credit have liquid financial collateral equal to a specified percent of the loan (i.e. they are a liability-to-asset link).3 The system of ABRRs proposed in this paper has some institutional precedents. Re ...
“Treasury Secretary Effect” in Yen/Yuan
... Japan in the 1980s and contemporary China are generally regarded as a rising economic power threatening the role of the hegemon, which basically follow similar patterns of behaviors. According to the neorealist hegemony theory, as a result, the United States should employ all its resources to contai ...
... Japan in the 1980s and contemporary China are generally regarded as a rising economic power threatening the role of the hegemon, which basically follow similar patterns of behaviors. According to the neorealist hegemony theory, as a result, the United States should employ all its resources to contai ...
Exchange Rate Policy
... 2. Exchange rate policy poses a dilemma: there are economic payoffs to stable exchange rates, but the policies used to fix the exchange rate have costs. Exchange market intervention requires large reserves, and exchange controls distort incentives. If monetary policy is used to help fix the exchange ...
... 2. Exchange rate policy poses a dilemma: there are economic payoffs to stable exchange rates, but the policies used to fix the exchange rate have costs. Exchange market intervention requires large reserves, and exchange controls distort incentives. If monetary policy is used to help fix the exchange ...
Macroeconomic Policy Regimes in the Philippines By Cayetano
... 2007 global financial crisis The financial conservatism engendered by the experience of the Asian Financial Crisis insulated the financial system from major exposure to the structured financial instruments when the Global Financial Crisis came. The main impact of the global crisis came through the P ...
... 2007 global financial crisis The financial conservatism engendered by the experience of the Asian Financial Crisis insulated the financial system from major exposure to the structured financial instruments when the Global Financial Crisis came. The main impact of the global crisis came through the P ...
IFI_Ch10
... ※ Due to the not-completely-free-convertible features, the Chinese yuan was not devalued, but there was rising speculation that Chinese government would devalue it soon for competitive reasons (but it did not) ※ The Hong Kong dollar survived, but with great expense to the central bank’s foreign exch ...
... ※ Due to the not-completely-free-convertible features, the Chinese yuan was not devalued, but there was rising speculation that Chinese government would devalue it soon for competitive reasons (but it did not) ※ The Hong Kong dollar survived, but with great expense to the central bank’s foreign exch ...
Monetary Policy - India schools, colleges, education
... crore) as against an increase of 12.8 per cent (Rs.1,92,269 crore), net of conversion, in the previous year. Excluding the end-March build-up, the year-on-year increase in non-food bank credit during 2005-06 (over April 1, 2005) was 30.8 per cent (Rs.3,42,493 crore) on top of 27.5 per cent (Rs.2,21, ...
... crore) as against an increase of 12.8 per cent (Rs.1,92,269 crore), net of conversion, in the previous year. Excluding the end-March build-up, the year-on-year increase in non-food bank credit during 2005-06 (over April 1, 2005) was 30.8 per cent (Rs.3,42,493 crore) on top of 27.5 per cent (Rs.2,21, ...
ECON 58 - Department of Economics
... recovery. By contrast, the countries of the gold bloc (Belgium, France, Italy, Netherlands, Poland, and Switzerland), which maintained the gold standard until 1935–36, suffered from protracted economic depression. Nonetheless, Sweden not only experienced a shorter crisis but also enjoyed a particula ...
... recovery. By contrast, the countries of the gold bloc (Belgium, France, Italy, Netherlands, Poland, and Switzerland), which maintained the gold standard until 1935–36, suffered from protracted economic depression. Nonetheless, Sweden not only experienced a shorter crisis but also enjoyed a particula ...
GLOBALIZATION AND THE CHALLENGES OF THE WORLD
... countries but within them as well. The debate about the true nature of globalization has divided people in the third world countries since this phenomenon occurred. It is now a matter of debate in the United States. The architects of globalization are right that international economic integration is ...
... countries but within them as well. The debate about the true nature of globalization has divided people in the third world countries since this phenomenon occurred. It is now a matter of debate in the United States. The architects of globalization are right that international economic integration is ...
An optimum-currency
... The theory of optimum-currency-areas has long been the subject of academic research and the object of controversy. A wide range of views has been expressed about the usefulness of research into the subject. At one end of the spectrum, Krugman (1993, p. 18) has stated that ‘‘It is arguable that the o ...
... The theory of optimum-currency-areas has long been the subject of academic research and the object of controversy. A wide range of views has been expressed about the usefulness of research into the subject. At one end of the spectrum, Krugman (1993, p. 18) has stated that ‘‘It is arguable that the o ...
The Great China Currency Debate: For workers or speculators?
... claims of those leading the debate in the West. Is the renminbi undervalued? Similar to the previous crescendo in this debate in 2005, there is actually no agreement as to whether the renminbi is undervalued or by how much. Revaluation advocates generally maintain that the answer to this question is ...
... claims of those leading the debate in the West. Is the renminbi undervalued? Similar to the previous crescendo in this debate in 2005, there is actually no agreement as to whether the renminbi is undervalued or by how much. Revaluation advocates generally maintain that the answer to this question is ...
Monetary policy in the US and EU after quantitative
... expense is very clear. Given banks hold $2.6 trillion in total reserves, every one hundred basis point increase in interest rates costs the Federal Reserve $26 billion. If the Fed’s policy interest rate returns to 3 percent, that would cost $78 billion. That is an effective tax cut for banks because ...
... expense is very clear. Given banks hold $2.6 trillion in total reserves, every one hundred basis point increase in interest rates costs the Federal Reserve $26 billion. If the Fed’s policy interest rate returns to 3 percent, that would cost $78 billion. That is an effective tax cut for banks because ...
Reflections on 25 years of Inflation Targeting
... established in 2013 to make major policy decisions. The committee comprises the four governors, and it reviews all major monetary and financial policy matters falling under the Bank’s responsibilities, including decisions on monetary policy, foreign exchange intervention, liquidity management policy ...
... established in 2013 to make major policy decisions. The committee comprises the four governors, and it reviews all major monetary and financial policy matters falling under the Bank’s responsibilities, including decisions on monetary policy, foreign exchange intervention, liquidity management policy ...
No Slide Title
... • A depreciation (fall) in the U.S. real exchange rate means that U.S. goods have become cheaper relative to foreign goods. • This encourages consumers both at home and abroad to buy more U.S. goods and fewer goods from other countries. • As a result, U.S. exports rise, and U.S. imports ...
... • A depreciation (fall) in the U.S. real exchange rate means that U.S. goods have become cheaper relative to foreign goods. • This encourages consumers both at home and abroad to buy more U.S. goods and fewer goods from other countries. • As a result, U.S. exports rise, and U.S. imports ...
Working Paper No. 59 James R. Lothian Anthony Cassese 1050
... and more importantly the international transmission of inflation. We would view a lead of prices over money and to a lesser extent a coincidence in movements as prima fade evidence of the importance of foreign influences. But a lag of prices behind money is consistent with either domestic or foreign ...
... and more importantly the international transmission of inflation. We would view a lead of prices over money and to a lesser extent a coincidence in movements as prima fade evidence of the importance of foreign influences. But a lag of prices behind money is consistent with either domestic or foreign ...
Exercises on Chapter 2
... 2. GOING CONCERN ASSUMPTION e) Anticipates all losses, but reports no gains. 11. CONSERVATION f) Indicates that personal and business record keeping should be separately maintained. 1. ECONOMIC ENTITY ASSUMPTION g) Separates financial information into time periods for reporting purposes. 4. PERIODIC ...
... 2. GOING CONCERN ASSUMPTION e) Anticipates all losses, but reports no gains. 11. CONSERVATION f) Indicates that personal and business record keeping should be separately maintained. 1. ECONOMIC ENTITY ASSUMPTION g) Separates financial information into time periods for reporting purposes. 4. PERIODIC ...
Déjà vu? The Greek crisis experience, the 2010s versus the 1930s
... trust on the part of the social groups who have been called on to make sacrifices blocks any attempt for structural reform. It is well-known to historians that these attitudes are passed down through the generations and become embedded in societies and form their culture. However, a sudden and unex ...
... trust on the part of the social groups who have been called on to make sacrifices blocks any attempt for structural reform. It is well-known to historians that these attitudes are passed down through the generations and become embedded in societies and form their culture. However, a sudden and unex ...
No Slide Title
... Impact of eliminating EUR/ISK volatility: 2% increased trade with Euro Zone Impact of joining the EU: 28% increased trade with Euro Zone Impact of joining EMU: 29% increased trade with Euro Zone HM Treasury (2003) suggests that ‘it seems reasonable to assume that each 1 percentage point increase in ...
... Impact of eliminating EUR/ISK volatility: 2% increased trade with Euro Zone Impact of joining the EU: 28% increased trade with Euro Zone Impact of joining EMU: 29% increased trade with Euro Zone HM Treasury (2003) suggests that ‘it seems reasonable to assume that each 1 percentage point increase in ...
Q and As on the Bond Manifesto
... combined vote of Sub-Saharan African countries however, is less than 5%. What are tax havens, and how would greater transparency help? Tax havens are countries that offer secret, low or zero taxation, and/or lax regulation. They allow big companies and wealthy individuals to escape from their respon ...
... combined vote of Sub-Saharan African countries however, is less than 5%. What are tax havens, and how would greater transparency help? Tax havens are countries that offer secret, low or zero taxation, and/or lax regulation. They allow big companies and wealthy individuals to escape from their respon ...
Inter-regional Financial Cooperation: Another Layer of Financial
... central bank leaders of seven South East Asian nations gathered in Bangkok, Thailand in 1966, and established the foundation of SEACEN, which plays an important role as a training and learning hub in the region. In 1982, the SEACEN Center was established to provide the secretariat function in Kuala ...
... central bank leaders of seven South East Asian nations gathered in Bangkok, Thailand in 1966, and established the foundation of SEACEN, which plays an important role as a training and learning hub in the region. In 1982, the SEACEN Center was established to provide the secretariat function in Kuala ...
PDF - Department of Economics
... indication of a bank rate that was too low with respect to the natural one, and vice versa in deflationary situations.12 It is only in this case, when one has combined the idea of endogenous money, with the view that the system will mean revert, as a result of inflationary and deflationary forces, t ...
... indication of a bank rate that was too low with respect to the natural one, and vice versa in deflationary situations.12 It is only in this case, when one has combined the idea of endogenous money, with the view that the system will mean revert, as a result of inflationary and deflationary forces, t ...
OMFIF-Bulletin-Octob..
... work, with a wounded financial system contributing to both. On the demand side of the economy, accumulating debt creates headwinds that slow demand, leading to still more monetary expansion and yet more debt. On the supply side, misallocations slow growth, again leading to monetary easing, more misa ...
... work, with a wounded financial system contributing to both. On the demand side of the economy, accumulating debt creates headwinds that slow demand, leading to still more monetary expansion and yet more debt. On the supply side, misallocations slow growth, again leading to monetary easing, more misa ...
NBER WORKING PAPER SERIES WHAT'S NEXT FOR THE DOLLAR? Martin S. Feldstein
... and energy prices triggering a price‐wage spiral in Europe’s heavily unionized economy. In the United States, wages are not rising and unions hardly exist. Only 7 percent of private sector workers are unionized. So the real interest gap will widen, making investment in short term eurobonds of Ge ...
... and energy prices triggering a price‐wage spiral in Europe’s heavily unionized economy. In the United States, wages are not rising and unions hardly exist. Only 7 percent of private sector workers are unionized. So the real interest gap will widen, making investment in short term eurobonds of Ge ...
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.