Capital Flows and Financial Crises - E-Prints Complutense
... (Mexico in 1994-95, East Asia in 1997-98, Turkey in 2000-01 and Argentina in 2001-02) 3 have presented common mechanisms. One way to treat them is through a simple theoretical framework like the one presented in García (2002) and Olivié (2002), on the basis of the work of different authors. All thos ...
... (Mexico in 1994-95, East Asia in 1997-98, Turkey in 2000-01 and Argentina in 2001-02) 3 have presented common mechanisms. One way to treat them is through a simple theoretical framework like the one presented in García (2002) and Olivié (2002), on the basis of the work of different authors. All thos ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... In Hong Kong, however, what type of credibility does the government need to establish? In a model of time consistency such as KydlandPrescott, the government’s policy objective needs to be different from that of the market equilibrium. Then, what makes Hong Kong’s government objective different from t ...
... In Hong Kong, however, what type of credibility does the government need to establish? In a model of time consistency such as KydlandPrescott, the government’s policy objective needs to be different from that of the market equilibrium. Then, what makes Hong Kong’s government objective different from t ...
Monetary Policy Autonomy in European Non-Euro Countries
... their exchange rates to move freely. Many countries that are formally floating in fact follow the monetary policy of key-currency countries as much as countries with fixed exchange rate arrangements do. Capital markets are so tightly integrated that non-pegged countries also lack monetary freedom. A ...
... their exchange rates to move freely. Many countries that are formally floating in fact follow the monetary policy of key-currency countries as much as countries with fixed exchange rate arrangements do. Capital markets are so tightly integrated that non-pegged countries also lack monetary freedom. A ...
Post-Keynesian policies for modern capitalism G.C. Harcourt Jesus
... time. (This also corresponds with Goodwin’s and the late Kalecki approach that the trend and cycle are indissolubly mixed, not separable concepts determined by independent factors, see , for example, Goodwin (1967), Kalecki (1968), Harcourt (2006)). Why does the difference matter for policy? Let me ...
... time. (This also corresponds with Goodwin’s and the late Kalecki approach that the trend and cycle are indissolubly mixed, not separable concepts determined by independent factors, see , for example, Goodwin (1967), Kalecki (1968), Harcourt (2006)). Why does the difference matter for policy? Let me ...
China, the US, and Currency Issues
... to let go of the syllogism that seemed so unassailable just a decade ago: – (1) The Chinese have joined the world economy; – (2) their wages are $0.50 an hour; – (3) there are a billion of them, and so – (4) their exports will rise without limit: “Chinese wages will never be bid up in line with the ...
... to let go of the syllogism that seemed so unassailable just a decade ago: – (1) The Chinese have joined the world economy; – (2) their wages are $0.50 an hour; – (3) there are a billion of them, and so – (4) their exports will rise without limit: “Chinese wages will never be bid up in line with the ...
Figure 4.3. The Recovery of Net Private Capital Flows
... Insufficient data Sources: CEIC; Haver Analytics; IMF, Balance of Payments Statistics; national sources; and IMF staff calculations. Note: Net private capital flows are defined as the sum of net foreign direct investment, net portfolio, net derivative, and net other investment flows, excluding other ...
... Insufficient data Sources: CEIC; Haver Analytics; IMF, Balance of Payments Statistics; national sources; and IMF staff calculations. Note: Net private capital flows are defined as the sum of net foreign direct investment, net portfolio, net derivative, and net other investment flows, excluding other ...
MONEY DEMAND SENSITIVITY TO INTEREST RATES: THE CASE
... windows of data. The length of the data window is chosen to be 16 years, a total of 64 quarterly observations, starting with the sample period 1975:1-1990:4, and ending with the period 1993:42014:3. The rolling sensitivity coefficient is estimated for several quantiles k, such as 10%, 20%, 30% and 4 ...
... windows of data. The length of the data window is chosen to be 16 years, a total of 64 quarterly observations, starting with the sample period 1975:1-1990:4, and ending with the period 1993:42014:3. The rolling sensitivity coefficient is estimated for several quantiles k, such as 10%, 20%, 30% and 4 ...
Chapter17
... • When studying an economy as a whole, macroeconomists focus on overall prices rather than the prices of individual items. That is, to measure the real exchange rate, they use price indexes, such as consumer price index, which measure the price of a basket of goods and services. • Suppose that P is ...
... • When studying an economy as a whole, macroeconomists focus on overall prices rather than the prices of individual items. That is, to measure the real exchange rate, they use price indexes, such as consumer price index, which measure the price of a basket of goods and services. • Suppose that P is ...
probset - Solution Manual
... 3. What is a spot exchange rate contract? When does delivery occur on a spot contract? Answer: When currencies in the interbank spot market are traded, certain business conventions are followed. For example, when the trade involves the U.S. dollar, business convention dictates that spot contracts ar ...
... 3. What is a spot exchange rate contract? When does delivery occur on a spot contract? Answer: When currencies in the interbank spot market are traded, certain business conventions are followed. For example, when the trade involves the U.S. dollar, business convention dictates that spot contracts ar ...
Chapter 14 - The Citadel
... • There is considerable evidence of the empirical validity of the relationship between high monetary growth and high rates of inflation. • Figure 14-4, next, shows the correspondence between money supply growth and the rates of inflation in various countries around the ...
... • There is considerable evidence of the empirical validity of the relationship between high monetary growth and high rates of inflation. • Figure 14-4, next, shows the correspondence between money supply growth and the rates of inflation in various countries around the ...
The 1980s financial liberalization in the Nordic
... plunge in Finland’s aggregate output in a period of two or three years was a surprising and unusual event. 3 The very low frequency of financial crisis in advanced economies up until the start of the 1990s should be contrasted with the relatively frequent such crises in advanced market economies bef ...
... plunge in Finland’s aggregate output in a period of two or three years was a surprising and unusual event. 3 The very low frequency of financial crisis in advanced economies up until the start of the 1990s should be contrasted with the relatively frequent such crises in advanced market economies bef ...
Sample
... A) relative purchasing power parity rates. B) real effective exchange rates. C) absolute purchasing power parity rates. D) nominal bilateral exchange rates. Answer: B 26) If you were a government official trying to recommend a strategy for monitoring you country's exchange rate, would you choose to ...
... A) relative purchasing power parity rates. B) real effective exchange rates. C) absolute purchasing power parity rates. D) nominal bilateral exchange rates. Answer: B 26) If you were a government official trying to recommend a strategy for monitoring you country's exchange rate, would you choose to ...
The Relative Effectiveness of Monetary and Fiscal Policies
... policies coupled with the dramatic rise in petroleum prices during 1973-74. Since early 1976 there have been some recovery, but unemployment continues to be a problem while inflation rates, although gradually moderating, remain at historically high levels. In this environment, governments have acted ...
... policies coupled with the dramatic rise in petroleum prices during 1973-74. Since early 1976 there have been some recovery, but unemployment continues to be a problem while inflation rates, although gradually moderating, remain at historically high levels. In this environment, governments have acted ...
Chapter 3 Function of Financial Markets Financial Intermediaries
... legal obligation of one party to transfer something of value – usually money – to another party at some future date, under certain conditions, such as stocks, loans, or insurance. ...
... legal obligation of one party to transfer something of value – usually money – to another party at some future date, under certain conditions, such as stocks, loans, or insurance. ...
1 - Hong Kong Monetary Authority
... I can see the attractiveness of the argument that currency depreciation would provide a quick inflationary boost to the economy, stimulating investment, pushing up property values, wiping out negative equity, resolving the budget deficit, and all of Hong Kong’s other problems. This might hypothetica ...
... I can see the attractiveness of the argument that currency depreciation would provide a quick inflationary boost to the economy, stimulating investment, pushing up property values, wiping out negative equity, resolving the budget deficit, and all of Hong Kong’s other problems. This might hypothetica ...
... think the peso will fall relative to the dollar can borrow pesos, sell them for dollars and invest the dollars, expecting that after the peso’s fall they will sell their dollar asset and repay the peso debt with depreciated pesos. That means that a currency’s value can be driven down not only when i ...
A SINGLE CURRENCY FOR THE PACIFIC ISLAND COUNTRIES: A STEPWISE APPROACH
... in both developed and developing regions have kindled great interest in the subject for the policy makers in the South Pacific (Jayaraman, 2002). The economic gains of a currency union with a single currency in circulation replacing independent currencies are substantial. They include reduction in t ...
... in both developed and developing regions have kindled great interest in the subject for the policy makers in the South Pacific (Jayaraman, 2002). The economic gains of a currency union with a single currency in circulation replacing independent currencies are substantial. They include reduction in t ...
PDF Download
... recession had begun in December 2007. In its composition and character, this recession was a balancesheet drive recession. It originated in the financial sector and spread into the real economy. Its tentacles spread into household budgets and balance-sheets of business firms, banks and non-bank fina ...
... recession had begun in December 2007. In its composition and character, this recession was a balancesheet drive recession. It originated in the financial sector and spread into the real economy. Its tentacles spread into household budgets and balance-sheets of business firms, banks and non-bank fina ...
Review Questions
... that are subject to withdrawal by writing a check to a third par ty. Such deposits are money per se since they can be used in their present form as a means of payment. Other types of intermediaries offer specialized secondary claims. For example, insurance companies offer financial protection agains ...
... that are subject to withdrawal by writing a check to a third par ty. Such deposits are money per se since they can be used in their present form as a means of payment. Other types of intermediaries offer specialized secondary claims. For example, insurance companies offer financial protection agains ...
Retheorising geography, trade and regional development
... values. In 1990 the financial bubble burst opening the way to two lost decades marked by dismal economic performance. As far as Euroland is concerned, current Mediterranean sovereign debt crises are connected with the inability of their currencies to continue fall in value to restore competitiven ...
... values. In 1990 the financial bubble burst opening the way to two lost decades marked by dismal economic performance. As far as Euroland is concerned, current Mediterranean sovereign debt crises are connected with the inability of their currencies to continue fall in value to restore competitiven ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... are similar to the relationships in their model. The most interesting aspect of their data analysis concerns the construction of the capital-output ratio. They use nominal private nonresidential fixed assets from the Bureau of Economic Analysis as their measure of the capital stock and nominal GDP a ...
... are similar to the relationships in their model. The most interesting aspect of their data analysis concerns the construction of the capital-output ratio. They use nominal private nonresidential fixed assets from the Bureau of Economic Analysis as their measure of the capital stock and nominal GDP a ...
Living With the IMF.indd
... gross reserves from the inflow of IMF funds to boost investor confidence and help temper the demand for hard currency. However, this psychological factor will have more of an impact on speculatory purchases rather than day to day demand for purchases of goods and services which currently exists. Tha ...
... gross reserves from the inflow of IMF funds to boost investor confidence and help temper the demand for hard currency. However, this psychological factor will have more of an impact on speculatory purchases rather than day to day demand for purchases of goods and services which currently exists. Tha ...
Why Have the Fed`s Polices Failed to Stimulate the Economy?
... The most disappointing aspect of the slow economic expansion has been the weak rise in business investment. Consumption and residential investment have grown fairly steadily. But despite lower costs of capital and only modest increases in labor costs, investment has fallen persistently below expecta ...
... The most disappointing aspect of the slow economic expansion has been the weak rise in business investment. Consumption and residential investment have grown fairly steadily. But despite lower costs of capital and only modest increases in labor costs, investment has fallen persistently below expecta ...
Emerging Economic Entity Crises in Post Financial Crisis Era – The
... assets decreased. The outflow of assets into emerging economic entities, plus the infection effect of capital market decline of developed economic entities, caused decline in prices for a part of emerging economic entities assets. In the future, the global assets may keep the trend to escape from th ...
... assets decreased. The outflow of assets into emerging economic entities, plus the infection effect of capital market decline of developed economic entities, caused decline in prices for a part of emerging economic entities assets. In the future, the global assets may keep the trend to escape from th ...
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.