XIA MENG Brandeis University International Business School Phone
... The existence of fat-tailed distributions underlying financial time series has been known for a long time. In this paper, I use OLS Hill estimator to measure the tail thickness of daily returns of US stock market. Based on bootstrap test, I show that 1) the return distribution is not symmetric in ta ...
... The existence of fat-tailed distributions underlying financial time series has been known for a long time. In this paper, I use OLS Hill estimator to measure the tail thickness of daily returns of US stock market. Based on bootstrap test, I show that 1) the return distribution is not symmetric in ta ...
The Argentine Monetary and Financial Policies and the Crisis
... 2005) underlies the policies applied by the monetary authority in recent years, which prevented the system from acting, for the first time in several decades, as a shock amplifier during an international financial crisis. ...
... 2005) underlies the policies applied by the monetary authority in recent years, which prevented the system from acting, for the first time in several decades, as a shock amplifier during an international financial crisis. ...
Business Cycle Update: Steady Global
... is the improvement in the current account balances of many deficit countries—such as India, Turkey, and Indonesia—that suffered from capital outflows during the second half of 2013 (see Exhibit 1, left). With global financial conditions stabilising and EM countries experiencing smaller financing nee ...
... is the improvement in the current account balances of many deficit countries—such as India, Turkey, and Indonesia—that suffered from capital outflows during the second half of 2013 (see Exhibit 1, left). With global financial conditions stabilising and EM countries experiencing smaller financing nee ...
FINANCIAL CRISES AND THE BENEFITS OF MILDLY - S
... wrong with the peso. The one is the fundamentals story, and the other the story of the onslaught of foreign financial capital. The fundamentals story has certain merit. There has been a persistent current account deficit - the difference between what Mexico takes in from exports and what it pays ou ...
... wrong with the peso. The one is the fundamentals story, and the other the story of the onslaught of foreign financial capital. The fundamentals story has certain merit. There has been a persistent current account deficit - the difference between what Mexico takes in from exports and what it pays ou ...
Monetary policy
... – If actual GDP is below potential, rate cuts are likely to boost GDP. – If actual GDP is above potential, rate cuts may lead to higher inflation. ...
... – If actual GDP is below potential, rate cuts are likely to boost GDP. – If actual GDP is above potential, rate cuts may lead to higher inflation. ...
1 Economics 259 Midterm II – Form D Fall 2016 Name: You have 50
... c. varies with the price level. d. changes as the level of income changes. e. depends on money demand. 13. The idea that the amount of any currency that can buy a particular good in one country should be able to buy (after being exchanged for the local currency) the same quantity of the same good an ...
... c. varies with the price level. d. changes as the level of income changes. e. depends on money demand. 13. The idea that the amount of any currency that can buy a particular good in one country should be able to buy (after being exchanged for the local currency) the same quantity of the same good an ...
Macroeconomic Issues and Vulnerabilities in the Global Economy: A
... leverage in the private sector (households, banks and some corporates); and then during the crisis by a surge in public debt and deficits • History and theory suggests that recovery from balance sheet crises is anemic for up to a decade: you need to spend less and save more (dissave less) to reduce ...
... leverage in the private sector (households, banks and some corporates); and then during the crisis by a surge in public debt and deficits • History and theory suggests that recovery from balance sheet crises is anemic for up to a decade: you need to spend less and save more (dissave less) to reduce ...
Midterm II - FORM A with solutions
... 7. When exports exceed imports, all of the following are true except: a. Net capital outflow is positive. b. Net exports are positive c. Domestic investment exceeds domestic saving d. Domestic output exceeds spending e. Domestic saving does not equal domestic investment. 8. In the Solow model ______ ...
... 7. When exports exceed imports, all of the following are true except: a. Net capital outflow is positive. b. Net exports are positive c. Domestic investment exceeds domestic saving d. Domestic output exceeds spending e. Domestic saving does not equal domestic investment. 8. In the Solow model ______ ...
Annex A - Hong Kong Monetary Authority
... banks, Discount Window activity generally fell in the period on the back of a more ...
... banks, Discount Window activity generally fell in the period on the back of a more ...
NBER WORKING PAPERS SERIES THE OF CAPITAL MARKETS Guillermo A. Calvo
... in Bulgaria and Romania. In what follows, we argue that a successful implementation of each of the above-mentioned mechanisms must overcome some of the obstacles related to tax incidence. Regarding the first mechanism, we note that a rise in the deposit rate (especially in PCPEs) has adverse implica ...
... in Bulgaria and Romania. In what follows, we argue that a successful implementation of each of the above-mentioned mechanisms must overcome some of the obstacles related to tax incidence. Regarding the first mechanism, we note that a rise in the deposit rate (especially in PCPEs) has adverse implica ...
International Conference on Draft of remarks prepared by Jan Kregel,
... answer to the question of the value of money Patnaik is thus led back to the pre-Walrasian theories of the classical economists and to Marx, and to the post neoclassical theories of Keynes and his followers. The Labour Tradition In this quest it is important to note the early contribution of the Sco ...
... answer to the question of the value of money Patnaik is thus led back to the pre-Walrasian theories of the classical economists and to Marx, and to the post neoclassical theories of Keynes and his followers. The Labour Tradition In this quest it is important to note the early contribution of the Sco ...
Euro Challenge: Competition Overview - Miami
... • One team per school • Up to 5 students per team (not including alternates) • Students must be in 9-10th grade • Students generally do not have prior exposure to economics (Mainly global or European studies, world history, etc.) ...
... • One team per school • Up to 5 students per team (not including alternates) • Students must be in 9-10th grade • Students generally do not have prior exposure to economics (Mainly global or European studies, world history, etc.) ...
The Renminbi`s Dollar Peg at the Crossroads
... According to PBOC (2005), net foreign assets made up about 60 percent of total assets in 2004, as compared with 33 percent in 1995. Today’s percentage is even higher. China has also opportunistically lowered some barriers to outward investment in order to ease financial-account pressures on the bala ...
... According to PBOC (2005), net foreign assets made up about 60 percent of total assets in 2004, as compared with 33 percent in 1995. Today’s percentage is even higher. China has also opportunistically lowered some barriers to outward investment in order to ease financial-account pressures on the bala ...
Local-Currency Debt`s Outlook Improving
... recent extremes. Third, rising headline inflation in December and ...
... recent extremes. Third, rising headline inflation in December and ...
Group of Twenty IMF Note on Global Prospects and Policy Challenges
... effects and persistently low investment. In turn, lower potential growth depresses expected future income, which reduces demand today. On the policy side, some structural reforms can lift supply while also providing a degree of short-run demand support, but others require supportive macroeconomic po ...
... effects and persistently low investment. In turn, lower potential growth depresses expected future income, which reduces demand today. On the policy side, some structural reforms can lift supply while also providing a degree of short-run demand support, but others require supportive macroeconomic po ...
2. chapter currency crisis models and predicting a currency crisis
... countries during the period of 1959 and 1973, 77 crises. They built a currency crisis index constructed by changes in three variables international reserves, Exchange rate and interest rates. Findings are speculative attacks on fixed exchange rates play a significant role in currency crises. Krugman ...
... countries during the period of 1959 and 1973, 77 crises. They built a currency crisis index constructed by changes in three variables international reserves, Exchange rate and interest rates. Findings are speculative attacks on fixed exchange rates play a significant role in currency crises. Krugman ...
ECON 8423-001 International Finance
... What are the effects of changes in exchange rates (or the shocks that caused them)? What causes changes in the balance of trade (and current account)? What are the allocative or distributional effects of alternative exchange-rate systems? Under what conditions can we rank (or even compare) exchange- ...
... What are the effects of changes in exchange rates (or the shocks that caused them)? What causes changes in the balance of trade (and current account)? What are the allocative or distributional effects of alternative exchange-rate systems? Under what conditions can we rank (or even compare) exchange- ...
Presentación de PowerPoint
... Optimal level of international reserves An adequate level of international reserves can be used as a self insurance during financial ...
... Optimal level of international reserves An adequate level of international reserves can be used as a self insurance during financial ...
Introduction to International Business
... (a) According to PPP, the $/£ rate should be 2.80/3.70, or .76$/£. (b) According to PPP, the $/£ one year forward exchange rate should be 3.10/4.65, or .67$/£. (c) Since the dollar is appreciating relative to the pound, and given the relationship of the international Fisher effect, the British must ...
... (a) According to PPP, the $/£ rate should be 2.80/3.70, or .76$/£. (b) According to PPP, the $/£ one year forward exchange rate should be 3.10/4.65, or .67$/£. (c) Since the dollar is appreciating relative to the pound, and given the relationship of the international Fisher effect, the British must ...
Zimbabwe: A Country In Crisis
... economic stabilization Also need to fix rifts with neighbors: Zimbabwe needs help during reforms to keep order and to provide humanitarian aid to its people The soured relationship between now isolated Zimbabwe and the international community needs repairing for Zimbabwe to have any hope of full and ...
... economic stabilization Also need to fix rifts with neighbors: Zimbabwe needs help during reforms to keep order and to provide humanitarian aid to its people The soured relationship between now isolated Zimbabwe and the international community needs repairing for Zimbabwe to have any hope of full and ...
Meeting Date: July 19, 2012
... the adverse effects of the excessive volatility in capital flows on domestic markets. 17. The Committee has also assessed the risk scenarios that could have an impact on inflation and monetary policy outlook and possible policy reactions. According to the Committee members, a further weakening in gl ...
... the adverse effects of the excessive volatility in capital flows on domestic markets. 17. The Committee has also assessed the risk scenarios that could have an impact on inflation and monetary policy outlook and possible policy reactions. According to the Committee members, a further weakening in gl ...
Responding to Financial Crisis With or Without IMF : ... Analysis of State – Capital Relations
... theory in quest of attempts to facilitate the adjustment of the capitalist states in general, those of the periphery in particular, to the political economy of globalization, mainly understood in terms of the processes of financial liberalization. Thereby, as there would be an increased focus upon t ...
... theory in quest of attempts to facilitate the adjustment of the capitalist states in general, those of the periphery in particular, to the political economy of globalization, mainly understood in terms of the processes of financial liberalization. Thereby, as there would be an increased focus upon t ...
The Johns Hopkins University Department of Economics
... This course is a graduate-level introduction to current research in open-economy macroeconomics and international finance. We begin by discussing in depth the intertemporal approach to the current account, the main building block of modern international macroeconomics. Building on the basic model we ...
... This course is a graduate-level introduction to current research in open-economy macroeconomics and international finance. We begin by discussing in depth the intertemporal approach to the current account, the main building block of modern international macroeconomics. Building on the basic model we ...
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.