ppt_montreal_crise
... phased and growth-friendly plans to deliver fiscal sustainability […]. Those countries with serious fiscal challenges need to accelerate the pace of consolidation. […] We agreed the financial sector should make a fair and substantial contribution towards paying for any burdens associated with govern ...
... phased and growth-friendly plans to deliver fiscal sustainability […]. Those countries with serious fiscal challenges need to accelerate the pace of consolidation. […] We agreed the financial sector should make a fair and substantial contribution towards paying for any burdens associated with govern ...
Remittances, Capital Flows and Financial Development during the
... faster and safer international transfer channels. This gives rise to a higher demand for deposit accounts in sending and receiving countries. If the average amount of remittances received by migrants’ families is above their immediate needs, there might also be an increa ...
... faster and safer international transfer channels. This gives rise to a higher demand for deposit accounts in sending and receiving countries. If the average amount of remittances received by migrants’ families is above their immediate needs, there might also be an increa ...
NBER WORKING PAPER SERIES TOWARDS AN EXPLANATION OF NATIONAL PRICE LEVELS
... price elasticities, which may be regarded as a logical outgrowth of Hume's work, the nature of the world price structure has seldom, if ever, been ...
... price elasticities, which may be regarded as a logical outgrowth of Hume's work, the nature of the world price structure has seldom, if ever, been ...
Current account benchmarks for central and eastern Europe: a
... in terms of economic fundamentals or is unwarranted. This is not a new debate in economics as it is closely related to the "transfer problem" that was already addressed by Keynes and Ohlin in the 1920s whilst discussing the economic consequences of war repayments by Germany. In a similar vein it cou ...
... in terms of economic fundamentals or is unwarranted. This is not a new debate in economics as it is closely related to the "transfer problem" that was already addressed by Keynes and Ohlin in the 1920s whilst discussing the economic consequences of war repayments by Germany. In a similar vein it cou ...
NBER WORKING PAPER SERIES Kristin J. Forbes Working Paper 13908
... literature is whether the current system of large global imbalances can continue. Most traditional models suggest that this system will not persist because the United States must stabilize its external debt ratios, and part of this adjustment will involve a large dollar depreciation (Obstfeld and Ro ...
... literature is whether the current system of large global imbalances can continue. Most traditional models suggest that this system will not persist because the United States must stabilize its external debt ratios, and part of this adjustment will involve a large dollar depreciation (Obstfeld and Ro ...
Weekly FX Insight - Citibank Hong Kong
... The RBNZ won’t change the OCR next Thursday but the Governor should announce a return to a neutral statement. Falling headline and weak underlying inflation present an argument that the RBNZ is further ahead of the inflation curve. We suspect the RBNZ may have to lower their inflation forecasts in ...
... The RBNZ won’t change the OCR next Thursday but the Governor should announce a return to a neutral statement. Falling headline and weak underlying inflation present an argument that the RBNZ is further ahead of the inflation curve. We suspect the RBNZ may have to lower their inflation forecasts in ...
here - Standard Chartered Bank
... 21,420. China, currently a big but poor economy, would become a middle-income economy – but on a vastly larger scale. This would be similar to the transformation seen by, say South Korea, over the last 50 years, as it transformed from a country with incomes on a par with many African economies to it ...
... 21,420. China, currently a big but poor economy, would become a middle-income economy – but on a vastly larger scale. This would be similar to the transformation seen by, say South Korea, over the last 50 years, as it transformed from a country with incomes on a par with many African economies to it ...
Foreign Exchange Market Organization in Selected
... those countries that peg the value of their currencies to other foreign currencies. For example, the euro explains close to 70 percent of the foreign exchange market turnover in countries firmly pegging their currencies to the euro, like Estonia and Bulgaria. Appendix Table 4 illustrates the share o ...
... those countries that peg the value of their currencies to other foreign currencies. For example, the euro explains close to 70 percent of the foreign exchange market turnover in countries firmly pegging their currencies to the euro, like Estonia and Bulgaria. Appendix Table 4 illustrates the share o ...
Monetary Policy Rules for Managing Aid Surges in Africa
... facing government that reflects the ‘imperfectly open’ capital account structures pervasive in much of Sub-Saharan Africa. Thus, the private sector engages in currency substitution but neither it nor the public sector has direct access to world capital markets. Hence, domestic government debt, which ...
... facing government that reflects the ‘imperfectly open’ capital account structures pervasive in much of Sub-Saharan Africa. Thus, the private sector engages in currency substitution but neither it nor the public sector has direct access to world capital markets. Hence, domestic government debt, which ...
IMF Staff Papers - Columbia Business School
... logistic S-shape. After the initial wave of sales of state-owned assets in Britain in the early 1980s (and earlier still in Chile), privatization programs began to emerge in other countries: at first in other OECD nations but then in developing and transition economies as well.2 Why did privatizatio ...
... logistic S-shape. After the initial wave of sales of state-owned assets in Britain in the early 1980s (and earlier still in Chile), privatization programs began to emerge in other countries: at first in other OECD nations but then in developing and transition economies as well.2 Why did privatizatio ...
ESMA Public Statement
... As in previous years, ESMA, together with European national enforcers (hereafter referred to as “enforcers”), identified financial reporting topics which listed issuers and their auditors should particularly consider when preparing and auditing, respectively, the IFRS financial statements for the ye ...
... As in previous years, ESMA, together with European national enforcers (hereafter referred to as “enforcers”), identified financial reporting topics which listed issuers and their auditors should particularly consider when preparing and auditing, respectively, the IFRS financial statements for the ye ...
The Cross-Country Incidence of the Global Crisis
... initial shock in the US sub-prime market throughout the global system. The literature on the macroeconomic impact of the current crisis is growing rapidly, although there is substantial variation across the studies in terms of methods and sample periods. Rose and Spiegel (2009a, 2009b) seek to expla ...
... initial shock in the US sub-prime market throughout the global system. The literature on the macroeconomic impact of the current crisis is growing rapidly, although there is substantial variation across the studies in terms of methods and sample periods. Rose and Spiegel (2009a, 2009b) seek to expla ...
Exchange rate and price dynamics in a small open economy
... premium shock under inflation targeting than under price-level targeting. Of course, the analysis solely based on the UIP is incomplete, not specifying e.g. the precise impact of risk premium shocks on expectations of the future interest rate. Therefore, we proceed with an analysis within a small op ...
... premium shock under inflation targeting than under price-level targeting. Of course, the analysis solely based on the UIP is incomplete, not specifying e.g. the precise impact of risk premium shocks on expectations of the future interest rate. Therefore, we proceed with an analysis within a small op ...
Interest Sensitivity and Volatility Reductions: Cross‐Section Evidence No. 05‐4
... As has been widely observed, the volatility of GDP has declined since the mid‐1980s compared with prior years. One leading explanation for this decline is that monetary policy improved significantly in the later period. We utilize a cross‐section of 2‐digit manufacturing and trade industries to ...
... As has been widely observed, the volatility of GDP has declined since the mid‐1980s compared with prior years. One leading explanation for this decline is that monetary policy improved significantly in the later period. We utilize a cross‐section of 2‐digit manufacturing and trade industries to ...
Exchange rate pass-through in central and eastern European
... (post-)transition economies is a relatively new strand to the literature on this issue. One of the reasons for this was perhaps due to the insufficient data spans available and data unavailability for many transition economies. This would, of course, render any econometric work either impossible or ...
... (post-)transition economies is a relatively new strand to the literature on this issue. One of the reasons for this was perhaps due to the insufficient data spans available and data unavailability for many transition economies. This would, of course, render any econometric work either impossible or ...
Central Bank Involvement in Banking Crises in Latin America
... and systemic events, including episodes that did not turn into full-fledged banking crises due to early government responses, and emphasizes the role played by central banks in managing financial market turmoil. This document sets the stage for future empirical work, which may seek to address policy ...
... and systemic events, including episodes that did not turn into full-fledged banking crises due to early government responses, and emphasizes the role played by central banks in managing financial market turmoil. This document sets the stage for future empirical work, which may seek to address policy ...
The Contribution of Economic Fundamentals to Movements in
... the Kalman filter and decompose the current deviation of exchange rate from its fundamentals into the contributions of expectations of future observed fundamentals and current and future unobserved remainder. Furthermore, instead of assuming that the discount factor is close to unity as in Engel and ...
... the Kalman filter and decompose the current deviation of exchange rate from its fundamentals into the contributions of expectations of future observed fundamentals and current and future unobserved remainder. Furthermore, instead of assuming that the discount factor is close to unity as in Engel and ...
Chapter 12
... • covers receipts and payments of income associated, respectively, with residents’ holdings of external financial assets and with residents’ liabilities to nonresidents. Investment income consists of direct investment income, portfolio investment income, and other investment income. The direct inves ...
... • covers receipts and payments of income associated, respectively, with residents’ holdings of external financial assets and with residents’ liabilities to nonresidents. Investment income consists of direct investment income, portfolio investment income, and other investment income. The direct inves ...
International transmission of anticipated inflation under alternative
... which a flexible exchange rate may insulate an economy from foreign disturbances are important issues for today’s monetary policymakers. This paper addresses the macroeconomic connections between countries by highlighting the role of anticipated inflation in the international transmission of monetar ...
... which a flexible exchange rate may insulate an economy from foreign disturbances are important issues for today’s monetary policymakers. This paper addresses the macroeconomic connections between countries by highlighting the role of anticipated inflation in the international transmission of monetar ...
24.3 Implementing Monetary Policy: Tools of the Fed
... The central bank can and does impose regulations on private commercial banks; it thereby regulates the size of the money supply and influences the level of economic activity. The central bank also implements monetary policy, which along with fiscal policy, forms the basis of efforts to direct the ec ...
... The central bank can and does impose regulations on private commercial banks; it thereby regulates the size of the money supply and influences the level of economic activity. The central bank also implements monetary policy, which along with fiscal policy, forms the basis of efforts to direct the ec ...
PPT chapter 15 - McGraw Hill Higher Education
... PowerPoint slides to accompany Principles of Macroeconomics 3e by Bernanke, Olekalns and Frank ...
... PowerPoint slides to accompany Principles of Macroeconomics 3e by Bernanke, Olekalns and Frank ...
Money Laundering - International Anti
... Furthermore, the paper argues that the current economic crisis in many of the underdeveloped countries is also a cog on the wheel of the fight against money laundering. Under pressure from the IMF and the World Bank, many of these countries have launched Structural Adjustment Programs (SAPs). Becaus ...
... Furthermore, the paper argues that the current economic crisis in many of the underdeveloped countries is also a cog on the wheel of the fight against money laundering. Under pressure from the IMF and the World Bank, many of these countries have launched Structural Adjustment Programs (SAPs). Becaus ...
Pick Your Poison: The Choices and 1 4
... Tables 1a and 1b report the incidence of these major changes in reserves, exchange rates, interest rates, and capital controls for the two crisis periods. The numbers on the diagonal of the tables represent changes in each policy that did not occur within one quarter of a change in any other of the ...
... Tables 1a and 1b report the incidence of these major changes in reserves, exchange rates, interest rates, and capital controls for the two crisis periods. The numbers on the diagonal of the tables represent changes in each policy that did not occur within one quarter of a change in any other of the ...
An Empirical Study of a ‘Mystery of Currency Exposure’ with the Case of A-Share Listed Companies
... exchange rate is clearly becoming closer. Since the initial opening up of its economy, China has conducted several significant exchange rate system reforms. Now, the basic formation is a manageable floating exchange rate system, and the effects of market supply and demand changes on the RMB exchange ...
... exchange rate is clearly becoming closer. Since the initial opening up of its economy, China has conducted several significant exchange rate system reforms. Now, the basic formation is a manageable floating exchange rate system, and the effects of market supply and demand changes on the RMB exchange ...
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.