MEXICO 2011 ARTICLE IV CONSULTATION
... is how to gradually adjust the overall policy stance and rebuild policy buffers, weighing domestic cyclical conditions against the potential impact of increased global downside risks. As fiscal consolidation is judiciously underway, the central bank will need to continue assessing the evolution of d ...
... is how to gradually adjust the overall policy stance and rebuild policy buffers, weighing domestic cyclical conditions against the potential impact of increased global downside risks. As fiscal consolidation is judiciously underway, the central bank will need to continue assessing the evolution of d ...
Seminar Paper No. 740 AN ESTIMATED DSGE MODEL FOR SWEDEN
... An Estimated DSGE Model for Sweden with a Monetary Regime Change of variables used in the estimation to ten macroeconomic time series: foreign interest rate, foreign price index, foreign output, domestic output, domestic price, domestic interest rate, nominal exchange rate, real wages, hours worked ...
... An Estimated DSGE Model for Sweden with a Monetary Regime Change of variables used in the estimation to ten macroeconomic time series: foreign interest rate, foreign price index, foreign output, domestic output, domestic price, domestic interest rate, nominal exchange rate, real wages, hours worked ...
The effect of Australian cash rate target announcements
... The paper investigates the impact of unexpected monetary policy on three classes of Australian financial futures assets—ASX stock price index futures, AUD/USD exchange futures and 3- and 10-year Treasury bond futures contracts. This study contributes to the literature by using 30-day and 90-day bank ...
... The paper investigates the impact of unexpected monetary policy on three classes of Australian financial futures assets—ASX stock price index futures, AUD/USD exchange futures and 3- and 10-year Treasury bond futures contracts. This study contributes to the literature by using 30-day and 90-day bank ...
NBER WORKING PAPER SERIES INDIA’S EXPERIENCE WITH CAPITAL FLOWS: CURRENT ACCOUNT DEFICIT
... generated increasing difficulties in terms of reconciling currency policy and monetary policy autonomy with the effectively open capital account. Speculative views of the currency were increasingly expressed by economic agents in many ways. Barriers to debt flows blocked currency speculation through ...
... generated increasing difficulties in terms of reconciling currency policy and monetary policy autonomy with the effectively open capital account. Speculative views of the currency were increasingly expressed by economic agents in many ways. Barriers to debt flows blocked currency speculation through ...
ECCB Staff Research Paper Identification of Loan Supply Function
... endorse the viewpoint of an employee's publication or guarantee its technical correctness. The views and opinions expressed in this paper are solely those of the author(s) and do not necessarily state or reflect those of the Eastern Caribbean Central Bank. No part of this publication shall be used f ...
... endorse the viewpoint of an employee's publication or guarantee its technical correctness. The views and opinions expressed in this paper are solely those of the author(s) and do not necessarily state or reflect those of the Eastern Caribbean Central Bank. No part of this publication shall be used f ...
The future of the international monetary and financial
... guardian of financial stability – which is on everyone’s mind today; ...
... guardian of financial stability – which is on everyone’s mind today; ...
the structural deficit – a new measure for fiscal discipline in the euro
... area, the member states have to fulfill certain criteria. One of these criteria, qualified as a political criterion, refers to fiscal integration. According to Mongelli, fiscal integration has three dimensions: the degree of fiscal convergence, the capacity to act as a shock absorber through fiscal ...
... area, the member states have to fulfill certain criteria. One of these criteria, qualified as a political criterion, refers to fiscal integration. According to Mongelli, fiscal integration has three dimensions: the degree of fiscal convergence, the capacity to act as a shock absorber through fiscal ...
STATISTICS BRIEF Creation of the euro area
... to OECD Member countries (see table above). Furthermore, such data are indispensable for financial market participants and increasingly for social partners due to the need to take developments elsewhere into account during wage negotiations. This demand for statistical information goes therefore muc ...
... to OECD Member countries (see table above). Furthermore, such data are indispensable for financial market participants and increasingly for social partners due to the need to take developments elsewhere into account during wage negotiations. This demand for statistical information goes therefore muc ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... independence”, is associated with exchange rate stability (a pegged exchange rate regime), and financial integration, but no monetary independence – the preferred choice of the countries forming the Euro block (a currency union), and of Argentina during the 1990s (choosing a currency-board exchange ...
... independence”, is associated with exchange rate stability (a pegged exchange rate regime), and financial integration, but no monetary independence – the preferred choice of the countries forming the Euro block (a currency union), and of Argentina during the 1990s (choosing a currency-board exchange ...
NBER WORKING PAPER SERIES INTEREST RATE DETERMINATION IN DEVELOPING COUNTRIES: A CONCEPTUAL FRAMEWORK
... here combines elements of the closed—economy and open—economy models, and thus is able to incorporate the influences of foreign interest rates, expected changes in exchange rates, and monetary developments on domestic interest rates. An interesting feature of the resulting model is that the approxim ...
... here combines elements of the closed—economy and open—economy models, and thus is able to incorporate the influences of foreign interest rates, expected changes in exchange rates, and monetary developments on domestic interest rates. An interesting feature of the resulting model is that the approxim ...
NBER WORKING PAPER SERIES THE NEED FOR INTERNATIONAL POLICY COORDINATION:
... – the assertions of the Chicago School not withstanding – did provide a theoretical rational for policy coordination, but found that the gains from coordination were quantitatively small. Now, Obstfeld and Rogoff (2000b)(O&Rb) and Corsetti and Pesenti (2001b) (C&Pb) have introduced a new generation ...
... – the assertions of the Chicago School not withstanding – did provide a theoretical rational for policy coordination, but found that the gains from coordination were quantitatively small. Now, Obstfeld and Rogoff (2000b)(O&Rb) and Corsetti and Pesenti (2001b) (C&Pb) have introduced a new generation ...
Euro Area Policies: 2016 Article IV Consultation--Press Release
... consumption was supported by lower oil prices and higher employment, while rising demand and easing financial conditions helped lift business investment. All of the large economies are contributing positively to regional growth (text figure). The fiscal stance remained broadly neutral in 2015, compa ...
... consumption was supported by lower oil prices and higher employment, while rising demand and easing financial conditions helped lift business investment. All of the large economies are contributing positively to regional growth (text figure). The fiscal stance remained broadly neutral in 2015, compa ...
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... market and makes it work more efficiently. Despite its opponents (See: Guender, Yooh On, 2005; Epstein, 2005), the number of inflation targeters is growing up. The level of targeted inflation is the most important issue which has to be reconsidered by monetary authorities. There are two different ap ...
... market and makes it work more efficiently. Despite its opponents (See: Guender, Yooh On, 2005; Epstein, 2005), the number of inflation targeters is growing up. The level of targeted inflation is the most important issue which has to be reconsidered by monetary authorities. There are two different ap ...
The Cultural Dimension of Globalization
... transnational corporation, powerful international economic institutions, and large regional trading system have emerged as the major building blocks of the twenty-first century's global economic order. ...
... transnational corporation, powerful international economic institutions, and large regional trading system have emerged as the major building blocks of the twenty-first century's global economic order. ...
Money Still Matters
... The notion of buffer-stock money demand has important implications for the macroeconomy. Even in a world of complete certainty as in the standard Baumol-Tobin framework, actual money balances fluctuate around an average level. Introducing the stochastic nature of transactions and, as a by-product, i ...
... The notion of buffer-stock money demand has important implications for the macroeconomy. Even in a world of complete certainty as in the standard Baumol-Tobin framework, actual money balances fluctuate around an average level. Introducing the stochastic nature of transactions and, as a by-product, i ...
CEEC – Transition and Enlargement
... increase in money supply moves LM to LM‘, interst rates declines initially to B, spending expands and economy moves to C capital flows out until interest rate is back to international level A ...
... increase in money supply moves LM to LM‘, interst rates declines initially to B, spending expands and economy moves to C capital flows out until interest rate is back to international level A ...
PDF
... in developed countries. Overshooting of agricultural prices can at least partially explain the observed agricultural-price variability. These monetary impacts and financial factors have policy implications as well. The short- and long-run impacts of monetary policy have been very important for the ...
... in developed countries. Overshooting of agricultural prices can at least partially explain the observed agricultural-price variability. These monetary impacts and financial factors have policy implications as well. The short- and long-run impacts of monetary policy have been very important for the ...
Determinants of Economic Growth
... Variants on this theory use various proxies for geography, including latitude, number of days with tropical weather, number of days in frost, minimum temperature, minimum monthly rainfall, and maximum temperature. Such geographic variables tend to be the most “moody” empirically—meaning that they ar ...
... Variants on this theory use various proxies for geography, including latitude, number of days with tropical weather, number of days in frost, minimum temperature, minimum monthly rainfall, and maximum temperature. Such geographic variables tend to be the most “moody” empirically—meaning that they ar ...
Cost Push Shocks and Monetary Policies in Open
... short run. But in an open economy there are more relative prices to consider. A particularly important additional concern is the relative price between home and foreign goods. Nevertheless, open economy contributions to the recent literature suggest that a welfare maximising monetary policy should f ...
... short run. But in an open economy there are more relative prices to consider. A particularly important additional concern is the relative price between home and foreign goods. Nevertheless, open economy contributions to the recent literature suggest that a welfare maximising monetary policy should f ...
13-102 Fixed Exchange Rates
... exchange rate and net export demand – Effects of changes in real interest rates • A rise in the domestic real interest rate (with the foreign real interest rate held constant) causes foreigners to want to buy domestic assets, increasing the demand for domestic currency and raising the exchange rate ...
... exchange rate and net export demand – Effects of changes in real interest rates • A rise in the domestic real interest rate (with the foreign real interest rate held constant) causes foreigners to want to buy domestic assets, increasing the demand for domestic currency and raising the exchange rate ...
NBER WORKING PAPER SERIES CURRENCY MISALIGNMENTS AND OPTIMAL MONETARY POLICY: A REEXAMINATION
... Exchange rates among the large economies have fluctuated dramatically over the past 30 years. The dollar/euro exchange rate has experienced swings of greater than 60%, and even the Canadian dollar/U.S. dollar has risen and fallen by more than 35% in the past decade, but inflation rates in these cou ...
... Exchange rates among the large economies have fluctuated dramatically over the past 30 years. The dollar/euro exchange rate has experienced swings of greater than 60%, and even the Canadian dollar/U.S. dollar has risen and fallen by more than 35% in the past decade, but inflation rates in these cou ...
Impact of the Euro adoption on the Economy of Latvia
... tuations of the euro and the US dollar are likely to occur also in the future, an inference can be made that the lats peg to the euro will completely eliminate lats fluctuations relative to euro, while Latvia's exporters to the countries of the US dollar bloc are likely to experience an 8.2% increa ...
... tuations of the euro and the US dollar are likely to occur also in the future, an inference can be made that the lats peg to the euro will completely eliminate lats fluctuations relative to euro, while Latvia's exporters to the countries of the US dollar bloc are likely to experience an 8.2% increa ...
A theory of the currency denomination of international trade
... Received 7 November 2002; received in revised form 1 October 2003; accepted 2 January 2004 ...
... Received 7 November 2002; received in revised form 1 October 2003; accepted 2 January 2004 ...
How Heterodox Is the Heterodoxy of the Monetary
... immediate link (for example, of convertibility) with any commodity that could be produced through human work. This at least is the position which the founders of neoclassical monetary theory explicitly adopted (including certainly Carl Menger, Alfred Marshall, Ludwig von Mises, Arthur Pigou and Char ...
... immediate link (for example, of convertibility) with any commodity that could be produced through human work. This at least is the position which the founders of neoclassical monetary theory explicitly adopted (including certainly Carl Menger, Alfred Marshall, Ludwig von Mises, Arthur Pigou and Char ...
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.