Modern Currency Wars: The United States versus Japan
... After World War I and much debate, in 1925 the British Chancellor of the Exchequer, Winston Churchill, tried to restore an international standard by pegging the price of gold at £4.86 per ounce—its pre-1914 parity. Many other nations followed suit. But in late 1926, France, which had inflated and de ...
... After World War I and much debate, in 1925 the British Chancellor of the Exchequer, Winston Churchill, tried to restore an international standard by pegging the price of gold at £4.86 per ounce—its pre-1914 parity. Many other nations followed suit. But in late 1926, France, which had inflated and de ...
11. Capital flows to emerging markets under the flexible dollar standard: a critical view based on the Brazilian
... the latter is short-term or long-term, is their relative costs in terms of payments of foreign exchange. Although foreign direct investment is considered the cheapest form of external finance because some of their profits are reinvested, some authors such as Kregel (1996) claim that the cost of th ...
... the latter is short-term or long-term, is their relative costs in terms of payments of foreign exchange. Although foreign direct investment is considered the cheapest form of external finance because some of their profits are reinvested, some authors such as Kregel (1996) claim that the cost of th ...
Fundamentals of Corporate Finance
... International Capital Budgeting o COUNTRY RISK • Some other ways that a foreign government can affect the risk of a foreign project include: Change tax laws in a way that adversely impacts the firm. Impose laws related to labor, wages, and prices that are more restrictive than those applicable for ...
... International Capital Budgeting o COUNTRY RISK • Some other ways that a foreign government can affect the risk of a foreign project include: Change tax laws in a way that adversely impacts the firm. Impose laws related to labor, wages, and prices that are more restrictive than those applicable for ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: NBER Macroeconomics Annual 1986, Volume 1
... Many theories attribute business cycle fluctuations largely to wage and price stickiness. If there is excess unemployment, firms would, according to these views, be willing to hire more workers if only wages could be cut. Although this argument is not watertight, it does focus attention on the behav ...
... Many theories attribute business cycle fluctuations largely to wage and price stickiness. If there is excess unemployment, firms would, according to these views, be willing to hire more workers if only wages could be cut. Although this argument is not watertight, it does focus attention on the behav ...
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... B. while most countries abandoned the gold standard during World War I, international trade and investment flourished during the interwar period under a coherent international monetary system. C. the U.S. dollar emerged as the dominant world currency, gradually replacing the British pound for the ro ...
... B. while most countries abandoned the gold standard during World War I, international trade and investment flourished during the interwar period under a coherent international monetary system. C. the U.S. dollar emerged as the dominant world currency, gradually replacing the British pound for the ro ...
The U.S. in the Global Economy
... U.S. must give up 3 tons of avocados to get 1 ton of soybeans Mexico must give up 4 tons of avocados to get 1 ton of soybeans C.A. U.S. for soybeans ...
... U.S. must give up 3 tons of avocados to get 1 ton of soybeans Mexico must give up 4 tons of avocados to get 1 ton of soybeans C.A. U.S. for soybeans ...
PART I
... Intervention in the Foreign Exchange Market Foreign Exchange Intervention and the Money Supply Box 1: Inside the Fed: A Day at the Federal Reserve Bank of New York's Foreign Exchange Desk Unsterilized Intervention Sterilized Intervention Balance of Payments Following the Financial News: The Balance ...
... Intervention in the Foreign Exchange Market Foreign Exchange Intervention and the Money Supply Box 1: Inside the Fed: A Day at the Federal Reserve Bank of New York's Foreign Exchange Desk Unsterilized Intervention Sterilized Intervention Balance of Payments Following the Financial News: The Balance ...
Learnings from the Global Financial Crisis
... Global spending and investment appear very cautious, and seem likely to remain so for some time, given the overhang of debt from before the crisis. In advanced economies, deleveraging in the private sector appears to have started, but will take a long time – perhaps a generation. Very cautious house ...
... Global spending and investment appear very cautious, and seem likely to remain so for some time, given the overhang of debt from before the crisis. In advanced economies, deleveraging in the private sector appears to have started, but will take a long time – perhaps a generation. Very cautious house ...
The Introduction of Macro‐prudential Policy A speech delivered to Otago University in Dunedin
... Some of the appreciation in the real exchange rate over the past decade is due to the improvement in our terms of trade (or the ratio of export prices to import prices), which are now 20 percent higher than the average for the 1990s. This reflects the rapid growth of the East Asian economies, and es ...
... Some of the appreciation in the real exchange rate over the past decade is due to the improvement in our terms of trade (or the ratio of export prices to import prices), which are now 20 percent higher than the average for the 1990s. This reflects the rapid growth of the East Asian economies, and es ...
To view this press release as a file
... the inflation environment—actual inflation continued to increase moderately, but there was a decline in expectations. The picture of strong economic activity that we saw at the end of 2016 is not markedly different today, and I will expand on that later on. In the foreign exchange market, the apprec ...
... the inflation environment—actual inflation continued to increase moderately, but there was a decline in expectations. The picture of strong economic activity that we saw at the end of 2016 is not markedly different today, and I will expand on that later on. In the foreign exchange market, the apprec ...
" # How to spend it
... excessively large, the interest rate and currency risk inherent in these official reserves from a certain level start to militate in favour of portfolio diversification, in order to contain potential losses on the US dollar or on the face value of US treasury bonds. Central banks find it increasingl ...
... excessively large, the interest rate and currency risk inherent in these official reserves from a certain level start to militate in favour of portfolio diversification, in order to contain potential losses on the US dollar or on the face value of US treasury bonds. Central banks find it increasingl ...
pdf
... Consensus US growth forecasts for this year have been downgraded significantly from 3.0% earlier this year to 2.2%, largely due to the one-off contraction in growth in the March quarter. However, economic activity appears sufficiently strong to expect that the economy will reach fullemployment by th ...
... Consensus US growth forecasts for this year have been downgraded significantly from 3.0% earlier this year to 2.2%, largely due to the one-off contraction in growth in the March quarter. However, economic activity appears sufficiently strong to expect that the economy will reach fullemployment by th ...
currency reform-1 - the School of Economics and Finance
... the general austerity program but can not control the losses from exporting due to the inflation which increases Renminbi cost of producing export products which was close to 8.4 yuan per dollar in Shanghai area in mid 1995.7 One of the major reasons for strong Renminbi since 1994 are due to a sharp ...
... the general austerity program but can not control the losses from exporting due to the inflation which increases Renminbi cost of producing export products which was close to 8.4 yuan per dollar in Shanghai area in mid 1995.7 One of the major reasons for strong Renminbi since 1994 are due to a sharp ...
What is the role of government during recessionary times and
... instance the objective of solely achieving price stability becomes difficult for Monetary Policy. Brash (1993) indicates that in this circumstance Monetary Policy should in principle accommodate at least part of the adjustment, as to do otherwise would mean taking all the adjustment of the supply sh ...
... instance the objective of solely achieving price stability becomes difficult for Monetary Policy. Brash (1993) indicates that in this circumstance Monetary Policy should in principle accommodate at least part of the adjustment, as to do otherwise would mean taking all the adjustment of the supply sh ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... different countries. Focusing on the recent crises, in the last two decades, a number offinancial crises have taken place in both the advanced as well as emerging economies of the world. A crisis often leadsan economy towards recession and its effects are quite devastating. Financial crises are usua ...
... different countries. Focusing on the recent crises, in the last two decades, a number offinancial crises have taken place in both the advanced as well as emerging economies of the world. A crisis often leadsan economy towards recession and its effects are quite devastating. Financial crises are usua ...
NBER WORKING PAPER SERIES COMPETITIVENESS, REALIGNMENT, AND SPECULATION: Maurice Obstfeld
... here is part of the NBERS research program in International Studies. Any opinions expressed are those of the author and not those of the National Bureau of Economic Research. ...
... here is part of the NBERS research program in International Studies. Any opinions expressed are those of the author and not those of the National Bureau of Economic Research. ...
World Economic Situation and Prospects 2015
... impacts from the recent decline in the prices of oil and other commodities, as well as country-specific factors. The short-term growth prospects of heavily commoditydependent countries have worsened considerably. By contrast, commodityimporters are benefiting from the lower prices in the form of red ...
... impacts from the recent decline in the prices of oil and other commodities, as well as country-specific factors. The short-term growth prospects of heavily commoditydependent countries have worsened considerably. By contrast, commodityimporters are benefiting from the lower prices in the form of red ...
“Fiscal Sustainability” Handout CEPR-RIETI Workshop Presenter: Prof. Wouter DEN HAAN
... More likely if debt is long-term and issued during tranquil times ...
... More likely if debt is long-term and issued during tranquil times ...
The US dollar: Safe haven
... Reference period: April 1973 – August 2006 No. of observations: 401 ...
... Reference period: April 1973 – August 2006 No. of observations: 401 ...
IPF Managing Currency Risk Invitation to Tender April 2017
... As investors increasingly seek to diversify their real estate exposure beyond their domestic markets, there is a need to consider the impact currency fluctuations may have on the performance of these holdings. Circumstances, such as Brexit, have caused currency volatility and, by implication, the co ...
... As investors increasingly seek to diversify their real estate exposure beyond their domestic markets, there is a need to consider the impact currency fluctuations may have on the performance of these holdings. Circumstances, such as Brexit, have caused currency volatility and, by implication, the co ...
Dollar Driving Change: How the Exchange Rate is
... How owner-managed dealers can insulate their businesses With the lower dollar affecting several areas of the Canadian auto industry, dealers should expect a difficult year. Yet, while approaches may differ depending on location and other factors, dealers can mitigate the effects of the exchange rate ...
... How owner-managed dealers can insulate their businesses With the lower dollar affecting several areas of the Canadian auto industry, dealers should expect a difficult year. Yet, while approaches may differ depending on location and other factors, dealers can mitigate the effects of the exchange rate ...
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... Europe surveyed by the Ifo Institute at the beginning of 2001 argued that foreigners had not been properly informed about the euro and felt substantial insecurity. Some governments in the area even took official steps to discourage deutschmark holdings by their citizens. The Polish government, for i ...
... Europe surveyed by the Ifo Institute at the beginning of 2001 argued that foreigners had not been properly informed about the euro and felt substantial insecurity. Some governments in the area even took official steps to discourage deutschmark holdings by their citizens. The Polish government, for i ...
Lecture 8: Development Policy in the Post-War Period
... • Focused on pulling resources out of agriculture to fund industry • Gov’t subsidies, trade protection for “infant industries” • Many firms actually owned directly by state governments • Growing share of workforce employed by public sector ...
... • Focused on pulling resources out of agriculture to fund industry • Gov’t subsidies, trade protection for “infant industries” • Many firms actually owned directly by state governments • Growing share of workforce employed by public sector ...
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.