Global Stratification
... How did the world’s nations become stratified? Colonialism – stronger nations conquer weaker nations and extract their resources by force. Steps of Colonization Send exploration teams to various parts of the globe and establish permanent and fortified footholds Develop operations to exploit natura ...
... How did the world’s nations become stratified? Colonialism – stronger nations conquer weaker nations and extract their resources by force. Steps of Colonization Send exploration teams to various parts of the globe and establish permanent and fortified footholds Develop operations to exploit natura ...
Current account
... 2. All flows are net changes (differences between assets sold and bought, for example) rather than ...
... 2. All flows are net changes (differences between assets sold and bought, for example) rather than ...
mmi14-Mueller 19106649 en
... a result of a lump-sum tax cut. In the presence of reversibility risk, the shock is recessionary. Intuitively, as domestic effective interest rates rise, private consumption and output fall. Furthermore, inflation takes off already before the actual exit takes place due to forwardlooking price-setting ...
... a result of a lump-sum tax cut. In the presence of reversibility risk, the shock is recessionary. Intuitively, as domestic effective interest rates rise, private consumption and output fall. Furthermore, inflation takes off already before the actual exit takes place due to forwardlooking price-setting ...
Download Dissertation
... liberalization and the economic background that lead to an initially flourishing banking sector. In doing so the paper elaborates on the economic oversights that were made during the financial build-up of the country and how such mistakes contributed to the crash. The focus is thus on identifying t ...
... liberalization and the economic background that lead to an initially flourishing banking sector. In doing so the paper elaborates on the economic oversights that were made during the financial build-up of the country and how such mistakes contributed to the crash. The focus is thus on identifying t ...
Financial sector reforms and interest rate
... Central Bank of Kenya was established by an Act of Parliament with only 10 (mainly foreign owned) commercial banks. The set goal for the financial sector was to ensure its growth and stability so that it could stimulate growth in other sectors of the economy thus achieving a high economic growth ra ...
... Central Bank of Kenya was established by an Act of Parliament with only 10 (mainly foreign owned) commercial banks. The set goal for the financial sector was to ensure its growth and stability so that it could stimulate growth in other sectors of the economy thus achieving a high economic growth ra ...
How big (small?) are fiscal multipliers?
... wars have been fought primarily on foreign soil and have not involved significant direct losses of productive capital, this is certainly not the case in developing or smaller developed countries. Identifying government consumption through military purchases would risk conflating the effects of governm ...
... wars have been fought primarily on foreign soil and have not involved significant direct losses of productive capital, this is certainly not the case in developing or smaller developed countries. Identifying government consumption through military purchases would risk conflating the effects of governm ...
US-Europe Economic Interdependence and Policy
... The advent of the Economic and Monetary Union (EMU) in Europe significantly affects the international monetary system and policy interactions between Europe and the rest of the world. Several papers have been written recently to discuss the impact of EMU.1 However, most analyses lack the support of ...
... The advent of the Economic and Monetary Union (EMU) in Europe significantly affects the international monetary system and policy interactions between Europe and the rest of the world. Several papers have been written recently to discuss the impact of EMU.1 However, most analyses lack the support of ...
Policy Mix Coherence: What Does it Mean for Monetary
... Indeed, a substantial strand of the literature stressed out the importance of monetary and fiscal policy coordination mechanisms. First, a number of studies conducted outside the context of monetary unions have emphasized the pivotal role of coordinated policies in macroeconomic stabilization (Alesi ...
... Indeed, a substantial strand of the literature stressed out the importance of monetary and fiscal policy coordination mechanisms. First, a number of studies conducted outside the context of monetary unions have emphasized the pivotal role of coordinated policies in macroeconomic stabilization (Alesi ...
ANALYSIS OF THE ZIMBABWEAN HYPERINFLATION CRISIS: A
... regression and tests for significance than on the calculus and mathematical proofs of Cagan. In addition, current research is often more policy-oriented, which makes it very relevant to this paper’s objectives. In this section, I will summarize some of the recent work in the field of hyperinflation ...
... regression and tests for significance than on the calculus and mathematical proofs of Cagan. In addition, current research is often more policy-oriented, which makes it very relevant to this paper’s objectives. In this section, I will summarize some of the recent work in the field of hyperinflation ...
Exchange Rate Volatility and Democratization in Emerging Market
... factors presumably were responsible for the ‘‘chaos’’ in the rupiah-dollar exchange rate (Figure 1). This issue is important because ‘‘chaos’’ in foreign exchange markets is costlyFcurrency volatility reduces trade, which diminishes national income, and contributes to the outbreak of financial crise ...
... factors presumably were responsible for the ‘‘chaos’’ in the rupiah-dollar exchange rate (Figure 1). This issue is important because ‘‘chaos’’ in foreign exchange markets is costlyFcurrency volatility reduces trade, which diminishes national income, and contributes to the outbreak of financial crise ...
Should Monetary Policy Monitor Risk Premiums in Financial Markets?
... households slowed, and inflation eventually fell well below 2 percent. However, GDP growth also began to slow, and the Riksbank eventually reversed all of its policy rate increases. This new decline in GDP growth was likely due in large part to the poor economic performance of the eurozone, Sweden’s ...
... households slowed, and inflation eventually fell well below 2 percent. However, GDP growth also began to slow, and the Riksbank eventually reversed all of its policy rate increases. This new decline in GDP growth was likely due in large part to the poor economic performance of the eurozone, Sweden’s ...
Evolving post-World War II UK economic
... logarithms of quarterly per capita real GDP for the G7 countries over the period 1960Q1-2002Q4 based on the Baxter and King (1999) band-pass filter. For all seven countries, however, they break the sample period in 1984, and their results are therefore not directly comparable to ours. Further, it is ...
... logarithms of quarterly per capita real GDP for the G7 countries over the period 1960Q1-2002Q4 based on the Baxter and King (1999) band-pass filter. For all seven countries, however, they break the sample period in 1984, and their results are therefore not directly comparable to ours. Further, it is ...
report - Standard Chartered Bank
... Banking union provides only part of the answer: capital markets union aims at boosting market-based financing, which still accounts for just one-fifth of lending, compared with some 70% in the US. Deeper, more integrated capital markets would make the euro area much more resilient to shocks, improve ...
... Banking union provides only part of the answer: capital markets union aims at boosting market-based financing, which still accounts for just one-fifth of lending, compared with some 70% in the US. Deeper, more integrated capital markets would make the euro area much more resilient to shocks, improve ...
Chapter 9 PowerPoint
... 2. All flows are net changes (differences between assets sold and bought, for example) rather than ...
... 2. All flows are net changes (differences between assets sold and bought, for example) rather than ...
Capital Account Liberalization, Institutions and Financial Development:
... measures of financial deepening. The total value of shares traded per year measure only appears to depend upon the ICAPM measure. In these analyses, one important distinction is that between behavior in developed and developing countries. In the sample for which De Gregorio has data on the gross cap ...
... measures of financial deepening. The total value of shares traded per year measure only appears to depend upon the ICAPM measure. In these analyses, one important distinction is that between behavior in developed and developing countries. In the sample for which De Gregorio has data on the gross cap ...
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN
... determinations, such as whether there is an imminent danger to the public health or physical safety of United States travelers. Since December 11, 1981, such determinations have been made by the Secretaries of States regarding travel to Libya. As a result of such determinations, United States passpo ...
... determinations, such as whether there is an imminent danger to the public health or physical safety of United States travelers. Since December 11, 1981, such determinations have been made by the Secretaries of States regarding travel to Libya. As a result of such determinations, United States passpo ...
Taylor Rules, McCallum Rules and the Term Structure of Interest Rates
... such as inflation or inflation expectations and real output or expected real output, e.g., a Taylor Rule, can be equivalent to a McCallum Rule in which short-term interest rates are set in response to term structure considerations, as suggested by the work of Cochrane and Piazzesi. If so, then what ...
... such as inflation or inflation expectations and real output or expected real output, e.g., a Taylor Rule, can be equivalent to a McCallum Rule in which short-term interest rates are set in response to term structure considerations, as suggested by the work of Cochrane and Piazzesi. If so, then what ...
... expectations to the inflation rate in the anchor country to whose currency it is pegged. Third, an exchange-rate target provides an automatic rule for the conduct of monetary policy that avoids the time-inconsistency problem. It forces a tightening of monetary policy when there is a tendency for the ...
IB Economics Section 3.3 The balance of payments
... 11. Discuss the implications of a persistent current account deficit, referring to factors including foreign ownership of domestic assets, exchange rates, interest rates, indebtedness, international credit ratings and demand management. ...
... 11. Discuss the implications of a persistent current account deficit, referring to factors including foreign ownership of domestic assets, exchange rates, interest rates, indebtedness, international credit ratings and demand management. ...
CHAPTER 21: Open-Economy Macroeconomics: The Balance of
... When a nation has spent more on foreign goods and services than it has earned through the sales of its goods and services to the rest of the world, its net wealth position vis-à-vis the rest of the world must have: a. Increased. ...
... When a nation has spent more on foreign goods and services than it has earned through the sales of its goods and services to the rest of the world, its net wealth position vis-à-vis the rest of the world must have: a. Increased. ...
Central bank diversification strategies: Rebalancing from the dollar
... with AAA credit ratings, stand out as countries with strong potential as reserve asset currencies due to their high quality. These countries have long held top credit ratings and have recently been reaffirmed by the major rating agencies. The pool of Alternative reserve assets also brings prospects ...
... with AAA credit ratings, stand out as countries with strong potential as reserve asset currencies due to their high quality. These countries have long held top credit ratings and have recently been reaffirmed by the major rating agencies. The pool of Alternative reserve assets also brings prospects ...
Rethinking the Role of NCBs in the EMU
... The last line of the matrix is the residual of a reaction function which in its general formulation shows how changes in holdings of assets adjust in order to manage the movement of the exchange rate. But here we have assumed that these transactions rigidly peg the value of the exchange rate. The re ...
... The last line of the matrix is the residual of a reaction function which in its general formulation shows how changes in holdings of assets adjust in order to manage the movement of the exchange rate. But here we have assumed that these transactions rigidly peg the value of the exchange rate. The re ...
Identifying Exchange Rate Common Factors
... the idea that if this particular group of k variables are empirical factors, then there are no common factors in the residuals. If one or more common factors are found in the residual panel, this particular set of variables is rejected as the empirical factors. The candidate list of economic variab ...
... the idea that if this particular group of k variables are empirical factors, then there are no common factors in the residuals. If one or more common factors are found in the residual panel, this particular set of variables is rejected as the empirical factors. The candidate list of economic variab ...
No. 227 Re-Evaluating Swedish Membership in EMU: Evidence
... broad public debate concerning the monetary union before a definitive decision was taken. There had not been any extensive debate of EMU before the referendum concerning EU membership in 1994, as EMU membership was seen as an issue separate from EU membership. 4. The fact that only a subset of EU me ...
... broad public debate concerning the monetary union before a definitive decision was taken. There had not been any extensive debate of EMU before the referendum concerning EU membership in 1994, as EMU membership was seen as an issue separate from EU membership. 4. The fact that only a subset of EU me ...
Download attachment
... is principally in order that the capital movements, when payments are balanced, shall be normally motivated by the tendency for capital to seek a common level of earnings and not motivated by temporary fears, especially by the fears aroused by an alteration of the exchange rate itself. We may perhap ...
... is principally in order that the capital movements, when payments are balanced, shall be normally motivated by the tendency for capital to seek a common level of earnings and not motivated by temporary fears, especially by the fears aroused by an alteration of the exchange rate itself. We may perhap ...
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.