More on Finance and Growth - St. Louis Fed
... surrounding the role of financial contracts, markets, and intermediaries in economic growth.1 The growing body of empirical research, using different statistical procedures and data sets, produces remarkably consistent results. First, countries with better-developed financial systems tend to grow fa ...
... surrounding the role of financial contracts, markets, and intermediaries in economic growth.1 The growing body of empirical research, using different statistical procedures and data sets, produces remarkably consistent results. First, countries with better-developed financial systems tend to grow fa ...
ESSAYS ON FINANCIAL REFORMS AND MONETARY POLICY IN MALAWI A Thesis
... appeared to be associated with depreciations of the exchange rate rather than the expected real appreciation. There is also evidence of limited impact of a positive aid shock on depreciation and inflation when RBM targets monetary aggregates compared to when the authorities use the Taylor rule and i ...
... appeared to be associated with depreciations of the exchange rate rather than the expected real appreciation. There is also evidence of limited impact of a positive aid shock on depreciation and inflation when RBM targets monetary aggregates compared to when the authorities use the Taylor rule and i ...
Open Economy Macro - Exchange Rates
... – China – tried to depress its currency (renminbi) in foreign exchange markets • Promote its export industries • Accumulate foreign assets – Including U.S. government bonds – In 2007: $1.5 trillion ...
... – China – tried to depress its currency (renminbi) in foreign exchange markets • Promote its export industries • Accumulate foreign assets – Including U.S. government bonds – In 2007: $1.5 trillion ...
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... – China – tried to depress its currency (renminbi) in foreign exchange markets • Promote its export industries • Accumulate foreign assets – Including U.S. government bonds – In 2007: $1.5 trillion ...
... – China – tried to depress its currency (renminbi) in foreign exchange markets • Promote its export industries • Accumulate foreign assets – Including U.S. government bonds – In 2007: $1.5 trillion ...
PURCHASING POWER PARITY AND TURKISH LIRA
... theory has its source in the Mercantilist writings of the seventeenth century such as Hume, Wheatley and Ricardo, but it came into prominence in 1916 through the writings of the Swedish economist, Gustav Cassel (1866-1945). It was clearly modeled during the World War I and it came out after the brea ...
... theory has its source in the Mercantilist writings of the seventeenth century such as Hume, Wheatley and Ricardo, but it came into prominence in 1916 through the writings of the Swedish economist, Gustav Cassel (1866-1945). It was clearly modeled during the World War I and it came out after the brea ...
global cities of the future a gcc perspective
... have launched long-term plans to become successful global cities in a variety of arenas, carving out unique paths to growth. From Dubai, the region’s financial and transportation hub, to Doha, a leader in business activity and cultural exchange, much has been achieved—but much remains to be done, as ...
... have launched long-term plans to become successful global cities in a variety of arenas, carving out unique paths to growth. From Dubai, the region’s financial and transportation hub, to Doha, a leader in business activity and cultural exchange, much has been achieved—but much remains to be done, as ...
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... bilateral exchange rates. Both exchange rates are independently determined in the respective foreign exchange markets. Before the currency crisis in 1997, Korea maintained a managed floating exchange rate regime while Japan freely floated its currency. Under these different exchange rate regimes, no ...
... bilateral exchange rates. Both exchange rates are independently determined in the respective foreign exchange markets. Before the currency crisis in 1997, Korea maintained a managed floating exchange rate regime while Japan freely floated its currency. Under these different exchange rate regimes, no ...
International Trade Finance and the Cost Channel of Monetary
... (NOEM) paradigm of Obstfeld et al. (1996).7 The world economy is assumed to consist of two countries of equal size. Households have preferences over domestic and foreign goods and supply labor to firms elastically. There are two sets of firms in each economy– production firms and trade firms. Prices ...
... (NOEM) paradigm of Obstfeld et al. (1996).7 The world economy is assumed to consist of two countries of equal size. Households have preferences over domestic and foreign goods and supply labor to firms elastically. There are two sets of firms in each economy– production firms and trade firms. Prices ...
NBER WORKING PAPER SERIES ENDOGENOUS EXCHANGE RATE PASS-THROUGH Michael B. Devereux
... exporters in the stabilizing country will also begin to pre-set their prices in domestic currency. Thus, there is a ‘beggar-thy-neighbor’ aspect to policies of monetary stabilization in an environment of endogenous pass-through. This paper is part of a wider literature on sticky price open economy m ...
... exporters in the stabilizing country will also begin to pre-set their prices in domestic currency. Thus, there is a ‘beggar-thy-neighbor’ aspect to policies of monetary stabilization in an environment of endogenous pass-through. This paper is part of a wider literature on sticky price open economy m ...
Market-specific and Currency-specific Risk During the Global
... This paper explores how international money markets reflected credit and liquidity risks during the global financial crisis. After matching the currency denomination, we investigate how the Tokyo Interbank Offered Rate (TIBOR) was synchronized with the London Interbank Offered Rate (LIBOR) denominat ...
... This paper explores how international money markets reflected credit and liquidity risks during the global financial crisis. After matching the currency denomination, we investigate how the Tokyo Interbank Offered Rate (TIBOR) was synchronized with the London Interbank Offered Rate (LIBOR) denominat ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Such a reduction in government expenditure can in the context of developing economies lead to unemployment, reduction in investment and social services, and general deflation (www.swan.ac.uk/economics/cware/ec312...) On the other hand, there is hardly any developed capital market in developing depen ...
... Such a reduction in government expenditure can in the context of developing economies lead to unemployment, reduction in investment and social services, and general deflation (www.swan.ac.uk/economics/cware/ec312...) On the other hand, there is hardly any developed capital market in developing depen ...
Report of the Commission of Experts of the President of the United
... intergovernmental body with a clear mandate on economic affairs, has a special and unique role to play in our global deliberations. In part this is because it offers the only forum in which all nations are free to speak and engage on the basis of sovereign equality, and therefore the only forum wher ...
... intergovernmental body with a clear mandate on economic affairs, has a special and unique role to play in our global deliberations. In part this is because it offers the only forum in which all nations are free to speak and engage on the basis of sovereign equality, and therefore the only forum wher ...
Estimates of Fundamental Equilibrium Exchange Rates, May 2016
... dollar has weakened against both currencies rather than gaining further strength. In December the European Central Bank (ECB) moved its already negative deposit rate from –0.2 to –0.3 percent and in March 2016 to –0.4 percent (ECB 2016). Japan entered the realm of negative interest rate policy at th ...
... dollar has weakened against both currencies rather than gaining further strength. In December the European Central Bank (ECB) moved its already negative deposit rate from –0.2 to –0.3 percent and in March 2016 to –0.4 percent (ECB 2016). Japan entered the realm of negative interest rate policy at th ...
Evolving Perceptions of Central Bank Credibility
... central bank reaction function. This type of updating can occur as market participants gradually learn through observing central bank actions and communications. The results in Section 4 show significant and persistent parameter instability in the effects of economic news on European term structure ...
... central bank reaction function. This type of updating can occur as market participants gradually learn through observing central bank actions and communications. The results in Section 4 show significant and persistent parameter instability in the effects of economic news on European term structure ...
Exchange rate overshooting and the costs of floating April 2004 1 Michele Cavallo
... costs of a currency crisis in a country with a high level of foreign currency debt. The key mechanism of the model is the presence of a margin constraint (as in Aiyagari and Gertler, 1999) imposed on the domestic country. We find the margin constraint a simple and convenient way of modeling the sudd ...
... costs of a currency crisis in a country with a high level of foreign currency debt. The key mechanism of the model is the presence of a margin constraint (as in Aiyagari and Gertler, 1999) imposed on the domestic country. We find the margin constraint a simple and convenient way of modeling the sudd ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
... The company continues to expect full year 2016 net revenue yields to be up approximately 3.5 percent compared to the prior year, on a constant currency basis. The company continues to expect full year net cruise costs excluding fuel per ALBD to be up approximately 1.5 percent compared to the prior y ...
... The company continues to expect full year 2016 net revenue yields to be up approximately 3.5 percent compared to the prior year, on a constant currency basis. The company continues to expect full year net cruise costs excluding fuel per ALBD to be up approximately 1.5 percent compared to the prior y ...
Open-Market Operations in a Model of Regulated
... promise to pay B units of' currency next period. If the bonds sell at less than face value, then the government levies taxes payable by the young equal to total interest on the debt. We assume that resources are not required in order to carry out these government activities. While there is free entr ...
... promise to pay B units of' currency next period. If the bonds sell at less than face value, then the government levies taxes payable by the young equal to total interest on the debt. We assume that resources are not required in order to carry out these government activities. While there is free entr ...
Solutions to Study Guide Questions
... b) Countries both export and import automobiles, beer, cheese, children’s toys. The simplest explanation for exporting and importing the same type of good, but differentiated in some way, e.g. parmesan cheese and brie, is variety. If Italy and France both export cheese to each other, then both natio ...
... b) Countries both export and import automobiles, beer, cheese, children’s toys. The simplest explanation for exporting and importing the same type of good, but differentiated in some way, e.g. parmesan cheese and brie, is variety. If Italy and France both export cheese to each other, then both natio ...
U.S. TREAS Form treas-irs-1065-schedule-d-1992
... the installment method for installment gain that is specially allocated among the partners, it must do the following on a timely filed return (including extensions): 1. For a short-term capital gain, report the full amount of the gain on Schedule K, line 4d or 7. For a long-term capital gain, report ...
... the installment method for installment gain that is specially allocated among the partners, it must do the following on a timely filed return (including extensions): 1. For a short-term capital gain, report the full amount of the gain on Schedule K, line 4d or 7. For a long-term capital gain, report ...
English - Inter-American Development Bank
... 2014, among others). For these works, banking decisions could become an exogenous source of booms and busts of credit that usually ends up affecting business cycle fluctuations. A preponderant role assigned to credit supply also suggests that credit markets can potentially turn into promoters of fin ...
... 2014, among others). For these works, banking decisions could become an exogenous source of booms and busts of credit that usually ends up affecting business cycle fluctuations. A preponderant role assigned to credit supply also suggests that credit markets can potentially turn into promoters of fin ...
Predictability of Exchange Rates in Sri Lanka: A Test of
... efficiency using different econometric techniques. The main purpose of these techniques has been to determine whether (a) a spot exchange rate for a currency behaves as a random walk, (b) the forward rate for a currency is an unbiased predictor of the future spot exchange rate for that currency, and ...
... efficiency using different econometric techniques. The main purpose of these techniques has been to determine whether (a) a spot exchange rate for a currency behaves as a random walk, (b) the forward rate for a currency is an unbiased predictor of the future spot exchange rate for that currency, and ...
Economics Working Paper Weathering the financial storm: The
... Central Bank of Iceland and Aarhus University ...
... Central Bank of Iceland and Aarhus University ...
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.