Foreign currency
... SUBSEQUENT TO INITIAL RECOGNITION CONTD. Monetary items denominated in a foreign currency should be reported using the closing rate but in the circumstances where the closing rate is unrealistic or where there are restrictions on remittances etc. the relevant monetary item should be reported at the ...
... SUBSEQUENT TO INITIAL RECOGNITION CONTD. Monetary items denominated in a foreign currency should be reported using the closing rate but in the circumstances where the closing rate is unrealistic or where there are restrictions on remittances etc. the relevant monetary item should be reported at the ...
The Foreign Exchange Market
... If I want euros, I demand them. And in order to acquire euros, I must supply dollars to the exchange market. So when Americans demand more euros, they must supply more dollars. The unit on the x‐axis is the quantity of US dollars supplied and demanded. The unit on the y‐axis is the price of US do ...
... If I want euros, I demand them. And in order to acquire euros, I must supply dollars to the exchange market. So when Americans demand more euros, they must supply more dollars. The unit on the x‐axis is the quantity of US dollars supplied and demanded. The unit on the y‐axis is the price of US do ...
「M2+債券型基金」統計數之編製說明
... The newly-modified table will therefore replace the existing table currently known as the Consolidated Assets and Liabilities of Major Financial Institutions. (5) This modification applies to all relevant data for the Financial Statistics Monthly collected since January 1997. ...
... The newly-modified table will therefore replace the existing table currently known as the Consolidated Assets and Liabilities of Major Financial Institutions. (5) This modification applies to all relevant data for the Financial Statistics Monthly collected since January 1997. ...
Keynote Address: Thoughts on G20 and the Way Forward
... • Real estate is 225% of GDP and stock market 100% of GDP. If real estate market declined by more than 20% and stock market 50%, then private sector wealth loss in 2008 was as much as 95% of GDP [45% + 50%]. US bank capital was estimated at $1.35 trillion (10% of GDP). Banks clearly insufficient cap ...
... • Real estate is 225% of GDP and stock market 100% of GDP. If real estate market declined by more than 20% and stock market 50%, then private sector wealth loss in 2008 was as much as 95% of GDP [45% + 50%]. US bank capital was estimated at $1.35 trillion (10% of GDP). Banks clearly insufficient cap ...
STANDING AT THE ABYSS: MONETARY POLICY AT THE ZERO LOWER BOUND
... the date last withdrawn from the banking system and so the tax due. Regardless of what method is used to impose a carry tax on currency, doing so would give central banks scope to reduce the policy rate significantly below zero, breaking the constraint of the ZLB. In the aftermath of the financial c ...
... the date last withdrawn from the banking system and so the tax due. Regardless of what method is used to impose a carry tax on currency, doing so would give central banks scope to reduce the policy rate significantly below zero, breaking the constraint of the ZLB. In the aftermath of the financial c ...
Challenges for the Future of the Global Economy
... Recovering from the global slowdown Addressing global imbalances Creating a more stable global financial system Creating a new global reserve system Creating a new global financial regulatory ...
... Recovering from the global slowdown Addressing global imbalances Creating a more stable global financial system Creating a new global reserve system Creating a new global financial regulatory ...
MMT and the Theory of the Monetary Circuit
... • The currency monopolist is necessarily price setter • The price level is necessarily a function of prices paid by government when it spends, and/or collateral demanded when it lends ...
... • The currency monopolist is necessarily price setter • The price level is necessarily a function of prices paid by government when it spends, and/or collateral demanded when it lends ...
1. Lecture
... No structures existed when the crisis broke out – imperative need of Economic Governance framework (set up of ESM, EFSF) The leap forward→ EUROBOND, it seems inevitable, that’s why countries like GRE have to be present and economically “alive” when that development takes place. ...
... No structures existed when the crisis broke out – imperative need of Economic Governance framework (set up of ESM, EFSF) The leap forward→ EUROBOND, it seems inevitable, that’s why countries like GRE have to be present and economically “alive” when that development takes place. ...
Download Syllabus
... We examine in particular the determinants of key economic variables such as real output, inflation, employment, interest rates, exchange rates, and their complex interactions in today’s global economy. We examine the determinants and implications of budget deficits, as well as the conduct and implem ...
... We examine in particular the determinants of key economic variables such as real output, inflation, employment, interest rates, exchange rates, and their complex interactions in today’s global economy. We examine the determinants and implications of budget deficits, as well as the conduct and implem ...
`New Economy` in the 1920s and the 1990s
... control inflation. The idea that a monetary authority should smooth fluctuations in ...
... control inflation. The idea that a monetary authority should smooth fluctuations in ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... extract a consistent set of efficiency and welfare principles that could offer guidelines about the future conduct of fiscal and monetary policy. The usual starting point for the theory that is put to work in the DIM chapter is a government that consumes fixed amounts of goods and services. Prices and ...
... extract a consistent set of efficiency and welfare principles that could offer guidelines about the future conduct of fiscal and monetary policy. The usual starting point for the theory that is put to work in the DIM chapter is a government that consumes fixed amounts of goods and services. Prices and ...
FRBSF E L CONOMIC
... Though much of the current discussion about global imbalances focuses on the swelling current account deficit in the U.S., the other side of this imbalance itself presents a puzzle. Specifically, the increase in U.S. international liabilities must be matched by an increase in assets elsewhere, and, ...
... Though much of the current discussion about global imbalances focuses on the swelling current account deficit in the U.S., the other side of this imbalance itself presents a puzzle. Specifically, the increase in U.S. international liabilities must be matched by an increase in assets elsewhere, and, ...
Chapter 15: Financial Markets and Expectations
... of central banks and the requirements that central banks be independent, accountable, and good communicators. The monetary policy framework exists to resolve the ambiguities that arise in the course of the central bank’s work and also clarifies the likely responses when goals are in conflict with on ...
... of central banks and the requirements that central banks be independent, accountable, and good communicators. The monetary policy framework exists to resolve the ambiguities that arise in the course of the central bank’s work and also clarifies the likely responses when goals are in conflict with on ...
A simple model of monetary policy and currency crises
... 0014-2921/00/$ - see front matter 2000 Elsevier Science B.V. All rights reserved. PII: S 0 0 1 4 - 2 9 2 1 ( 9 9 ) 0 0 0 5 3 - 7 ...
... 0014-2921/00/$ - see front matter 2000 Elsevier Science B.V. All rights reserved. PII: S 0 0 1 4 - 2 9 2 1 ( 9 9 ) 0 0 0 5 3 - 7 ...
International Economics - LaGuardia Community College
... 10. To describe exchange rate regimes and explain how they cope with macroeconomic policies. 11. To identify the major innovation in international banking and finance during the last 30 years, and analyze their implications for production, employment, trade and finance. 12. To explain the internatio ...
... 10. To describe exchange rate regimes and explain how they cope with macroeconomic policies. 11. To identify the major innovation in international banking and finance during the last 30 years, and analyze their implications for production, employment, trade and finance. 12. To explain the internatio ...
UNCTAD October 2007 N . 1
... financial market crisis Turmoil on the financial markets is back. After several years of relative calm, the turnaround in the US sub-prime mortgage market has spread uncertainty and apprehension among market participants in many countries, including some emerging markets.1 This has prompted aggressi ...
... financial market crisis Turmoil on the financial markets is back. After several years of relative calm, the turnaround in the US sub-prime mortgage market has spread uncertainty and apprehension among market participants in many countries, including some emerging markets.1 This has prompted aggressi ...
FRBSF L CONOMIC
... are significantly impaired and credit spreads rise to very abnormal levels, the authors find that the central bank should begin to bring private-sector debt onto its balance sheet in order to free up private investors’ capital, allow those funds to flow to private borrowers, and thereby reduce the a ...
... are significantly impaired and credit spreads rise to very abnormal levels, the authors find that the central bank should begin to bring private-sector debt onto its balance sheet in order to free up private investors’ capital, allow those funds to flow to private borrowers, and thereby reduce the a ...
solution
... AA to AA, as shown in the figure 19.2 (there is no change in the expected exchange rate since this is a temporary rise). Under a floating exchange rate there is thus a depreciation of the home currency and an increase in output. (The effect could differ in the IS-LM model, where the real interest ...
... AA to AA, as shown in the figure 19.2 (there is no change in the expected exchange rate since this is a temporary rise). Under a floating exchange rate there is thus a depreciation of the home currency and an increase in output. (The effect could differ in the IS-LM model, where the real interest ...
I NTERNATIONAL FINANCIAL
... emerged over the last 30 years and which Keynes may well have called the ‘casino economy’. The dominance of finance over real economy characterises the financial crisis, while finance itself is dominated by the all-encompassing target of maximum profit at all times. Other aims of economic activity s ...
... emerged over the last 30 years and which Keynes may well have called the ‘casino economy’. The dominance of finance over real economy characterises the financial crisis, while finance itself is dominated by the all-encompassing target of maximum profit at all times. Other aims of economic activity s ...
A fully coherent post-Keynesian model of currency boards
... monetary authorities have no autonomy over interest rates.” (Isard , Echange Rate Economics, Cambridge Surveys,1995) ...
... monetary authorities have no autonomy over interest rates.” (Isard , Echange Rate Economics, Cambridge Surveys,1995) ...
International Political Economy: Interests and Institutions in the
... and international areas. The winners seek deeper links with the global economy in order to extend and consolidate their gains, whereas the losers try to erect barriers between the global and national economies in order to minimize or even reverse their ...
... and international areas. The winners seek deeper links with the global economy in order to extend and consolidate their gains, whereas the losers try to erect barriers between the global and national economies in order to minimize or even reverse their ...
Challenges for the Future of the Global Economy
... Recovering from the global slowdown Addressing global imbalances Creating a more stable global financial system Creating a new global reserve system Creating a new global financial regulatory ...
... Recovering from the global slowdown Addressing global imbalances Creating a more stable global financial system Creating a new global reserve system Creating a new global financial regulatory ...
PDF Download
... capital market along the lines of the well-known study by Feldstein and Horioka (1980). In fact, the near-zero current account balance of the aggregate eurozone over the past decade could be construed as supporting the Feldstein-Horioka hypothesis. However, the voluminous literature spawned by their ...
... capital market along the lines of the well-known study by Feldstein and Horioka (1980). In fact, the near-zero current account balance of the aggregate eurozone over the past decade could be construed as supporting the Feldstein-Horioka hypothesis. However, the voluminous literature spawned by their ...
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.