great recession of 2008
... at the Financial Stability Board to try to end the boom and bust liquidity cycles that plague the global economy. With private liquidity drying up over concerns about sovereign debt in Europe, Carney said it is again up to the public sector, in particular central banks, to ensure there is sufficient ...
... at the Financial Stability Board to try to end the boom and bust liquidity cycles that plague the global economy. With private liquidity drying up over concerns about sovereign debt in Europe, Carney said it is again up to the public sector, in particular central banks, to ensure there is sufficient ...
Three Challenges Facing Modern Macroeconomics White paper
... not only assumed perfect financial markets (to the extent that concept was understood at the time), but also perfect markets for all non‐financial transactions as well. But with a quarter of the population unemployed at the peak of the Depression, the notion that frictionless markets equate the s ...
... not only assumed perfect financial markets (to the extent that concept was understood at the time), but also perfect markets for all non‐financial transactions as well. But with a quarter of the population unemployed at the peak of the Depression, the notion that frictionless markets equate the s ...
2002 September - JP Morgan Investor Meeting
... rates: This development promoted consumption and created a more conducive environment for investment decisions. As a result, the contribution of private expenditures turned positive in the second quarter of 2002. ...
... rates: This development promoted consumption and created a more conducive environment for investment decisions. As a result, the contribution of private expenditures turned positive in the second quarter of 2002. ...
No single currency regime is right for all countries or at all times
... (4) Adjustable peg. “Fixed but adjustable” was the description of exchange-rate pegs under the Bretton Woods regime. Most countries that declare their rates fixed actually undertake periodic realignments or change regimes altogether.1 (5) Crawling peg. In high-inflation countries, the peg can be reg ...
... (4) Adjustable peg. “Fixed but adjustable” was the description of exchange-rate pegs under the Bretton Woods regime. Most countries that declare their rates fixed actually undertake periodic realignments or change regimes altogether.1 (5) Crawling peg. In high-inflation countries, the peg can be reg ...
presentation
... • A line of literature starting with Romer (QJE, 1993) has used economic openness to explain “cross-country” differences in monetary policy implementation: A negative economic openness-inflation relation • This result, it is argued, derives from the fact that monetary authorities in more open econom ...
... • A line of literature starting with Romer (QJE, 1993) has used economic openness to explain “cross-country” differences in monetary policy implementation: A negative economic openness-inflation relation • This result, it is argued, derives from the fact that monetary authorities in more open econom ...
Five Surprises of the Great Recession
... Johnson, and Yi). This had a multiplier effect on global trade, which is largely composed of the inputs that feed into durable goods and that may be re-exported multiple times in the form of intermediate products. Prior to the Great Recession, economists had been confident that an outright decline i ...
... Johnson, and Yi). This had a multiplier effect on global trade, which is largely composed of the inputs that feed into durable goods and that may be re-exported multiple times in the form of intermediate products. Prior to the Great Recession, economists had been confident that an outright decline i ...
Lecture 3: Capital Account Liberalization and Crises
... E.g., Mexico, Sweden, Turkey, Korea, Paraguay ...
... E.g., Mexico, Sweden, Turkey, Korea, Paraguay ...
ECON 10020/20020 Principles of Macroeconomics
... 11. In the real world we don’t observe countries completely specializing in the production of goods for which they have a comparative advantage. All of the following are reasons for this except (A) not all goods and services are traded internationally. (B) some countries have more resources than ot ...
... 11. In the real world we don’t observe countries completely specializing in the production of goods for which they have a comparative advantage. All of the following are reasons for this except (A) not all goods and services are traded internationally. (B) some countries have more resources than ot ...
The Operational Framework of
... The passage to indirect instruments, specific to market economy was a complex process due to objective factors at that time such as: the rigidity of the real economy, the fragility of the banking system, the predominance of state ownership in banking sector and economy, social constraints and others ...
... The passage to indirect instruments, specific to market economy was a complex process due to objective factors at that time such as: the rigidity of the real economy, the fragility of the banking system, the predominance of state ownership in banking sector and economy, social constraints and others ...
AGF Fixed Income – Will rates continue to rise?
... Going forward, it is likely that markets will continue to adapt to a new U.S. political regime, which at this stage remains uncertain as to what policy proposals may be enacted and to what magnitude. Drags on capital spending, inventories and energy are likely to fade if Trump’s policies are impleme ...
... Going forward, it is likely that markets will continue to adapt to a new U.S. political regime, which at this stage remains uncertain as to what policy proposals may be enacted and to what magnitude. Drags on capital spending, inventories and energy are likely to fade if Trump’s policies are impleme ...
For questions 3-5
... economy, which of the following is true. (a) Effective trade barriers have reduced foreign imports into the economy. (b) New technology is being used in production. (c) Resources are not available to achieve that combination of goods/services. (d) resources are not being used efficiently to achieve ...
... economy, which of the following is true. (a) Effective trade barriers have reduced foreign imports into the economy. (b) New technology is being used in production. (c) Resources are not available to achieve that combination of goods/services. (d) resources are not being used efficiently to achieve ...
EEB 1.99 - Gold Standard - American Institute for Economic
... for their liquidity on New York were susceptible to failure, runs, and panic whenever crops failed or the balance of payments turned to deficit. But the effects of gold losses were moderated by bank clearinghouses, the independent Treasury, investment bankers, and congressional interventions. Beginn ...
... for their liquidity on New York were susceptible to failure, runs, and panic whenever crops failed or the balance of payments turned to deficit. But the effects of gold losses were moderated by bank clearinghouses, the independent Treasury, investment bankers, and congressional interventions. Beginn ...
Lezione 6 L`offerta di moneta e gli strumenti di
... and one interest rate. In reality there exist different financial assets (bonds, shares, short-term assets, long-term assets, etc.) There exist substitutability among the different assets: those who purchase one asset compare the return of alternative assets and decides consequently -> the interest ...
... and one interest rate. In reality there exist different financial assets (bonds, shares, short-term assets, long-term assets, etc.) There exist substitutability among the different assets: those who purchase one asset compare the return of alternative assets and decides consequently -> the interest ...
Tutor2U
... • The Euro project should be judged according to whether it achieves its long term aims – (1) Sustained non-inflationary growth – (2) Lower long-term interest rates and higher rates of investment – (3) Lower unemployment – (4) Expansion of the EU single market ...
... • The Euro project should be judged according to whether it achieves its long term aims – (1) Sustained non-inflationary growth – (2) Lower long-term interest rates and higher rates of investment – (3) Lower unemployment – (4) Expansion of the EU single market ...
The Impact of the Global Crisis, the Responses
... greater loss of foreign exchange. Too low a level will imperil exchange rate stability • No Caribbean country is limited in its ability to intervene the financial sector, because that results in no expenditure, merely a switch in ...
... greater loss of foreign exchange. Too low a level will imperil exchange rate stability • No Caribbean country is limited in its ability to intervene the financial sector, because that results in no expenditure, merely a switch in ...
Slide 1
... Mexican authorities were reluctant to take action in the spring and summer of 1994 to fix the inconsistencies in the economy. The choices open to them were to: raise interest rates even more to bring back capital inflow reduce government expenditures to reduce domestic demand, decrease imports and r ...
... Mexican authorities were reluctant to take action in the spring and summer of 1994 to fix the inconsistencies in the economy. The choices open to them were to: raise interest rates even more to bring back capital inflow reduce government expenditures to reduce domestic demand, decrease imports and r ...
Document
... of practical recommendations with the use of international division of labor. The goal led to the necessity of solving the following tasks: to define the essence, factors, forms, the main directions and trends in the international division of labor at the present stage; to highlight the economic ess ...
... of practical recommendations with the use of international division of labor. The goal led to the necessity of solving the following tasks: to define the essence, factors, forms, the main directions and trends in the international division of labor at the present stage; to highlight the economic ess ...
Three Dimensions of the Current Economic Crisis Ping Chen
... around the world to follow Friedman’s theory in dealing with the current crisis. On the contrary, we have solid evidence supporting the Austrian theory of endogenous money and rejecting Friedman. In 1998, China had to confront severe deflation in the aftermath of the Asian financial crisis; it manag ...
... around the world to follow Friedman’s theory in dealing with the current crisis. On the contrary, we have solid evidence supporting the Austrian theory of endogenous money and rejecting Friedman. In 1998, China had to confront severe deflation in the aftermath of the Asian financial crisis; it manag ...
Appreciation
... •The Case for Fixed Exchange Rates • Facilitates trade by creating certainty about the exchange rate ...
... •The Case for Fixed Exchange Rates • Facilitates trade by creating certainty about the exchange rate ...
NBER WORKING PAPER SERIES FRANCE AND THE BRETFON WOODS Michael D. Bordo
... country is responsible for providing the non-gold component (convertible into gold) of official reserves to the rest of the world via a deficit of its balance of payments, and if these deficits are persistent, the country's liabilities may soon exceed its reserve assets. As a result, countries which ...
... country is responsible for providing the non-gold component (convertible into gold) of official reserves to the rest of the world via a deficit of its balance of payments, and if these deficits are persistent, the country's liabilities may soon exceed its reserve assets. As a result, countries which ...
European Commission
... bonds have declined markedly since 2010 to very low levels, which reflect robust market confidence in Lithuania. All other countries also satisfy this criterion. ...
... bonds have declined markedly since 2010 to very low levels, which reflect robust market confidence in Lithuania. All other countries also satisfy this criterion. ...
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.