IS-LM and Monetarism
... For Modigliani the key difference between Keynes and the classics was wage rigidity, which leads to a less-than-full-employment equilibrium. He viewed absolute liquidity preference as a curiosity and not the true hallmark of the Keynesian model. The Hicks-Modigliani model was then popularized by Alv ...
... For Modigliani the key difference between Keynes and the classics was wage rigidity, which leads to a less-than-full-employment equilibrium. He viewed absolute liquidity preference as a curiosity and not the true hallmark of the Keynesian model. The Hicks-Modigliani model was then popularized by Alv ...
Remittances and Development: World Bank approach
... A survey conducted in Indonesia among the migrant worker and the migrant worker’s household. The study finds strong and statistically significant impacts of financial literacy training given to both the migrant and her family on savings behaviors and outcomes, in contrast to much of the existing lit ...
... A survey conducted in Indonesia among the migrant worker and the migrant worker’s household. The study finds strong and statistically significant impacts of financial literacy training given to both the migrant and her family on savings behaviors and outcomes, in contrast to much of the existing lit ...
Monthly Bulletin April 2014
... In practice, different central banks have adopted different forms of forward guidance.9 Conditionality is an important feature of forward guidance, since it enhances the credibility of the central bank’s orientation. In theory, in the modelling of forward guidance envisaged in the academic literatur ...
... In practice, different central banks have adopted different forms of forward guidance.9 Conditionality is an important feature of forward guidance, since it enhances the credibility of the central bank’s orientation. In theory, in the modelling of forward guidance envisaged in the academic literatur ...
PDF
... The 1973-88 results may be due to the dollar's behavior over the 1980s (figure 2), which arguably was the result of an aberrant policy ...
... The 1973-88 results may be due to the dollar's behavior over the 1980s (figure 2), which arguably was the result of an aberrant policy ...
Macroeconomic stabilization, monetary
... Macroeconomic stabilization, monetary-fiscal interactions, and Europe’s monetary union ...
... Macroeconomic stabilization, monetary-fiscal interactions, and Europe’s monetary union ...
should the southeast asian countries form a currency union?
... with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the introduction of the euro was to enhance the gains from the creation of a single European market (Emerson et al. 1992). Another benefit of currency unions suggested b ...
... with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the introduction of the euro was to enhance the gains from the creation of a single European market (Emerson et al. 1992). Another benefit of currency unions suggested b ...
should the southeast asian countries form a currency union?
... with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the introduction of the euro was to enhance the gains from the creation of a single European market (Emerson et al. 1992). Another benefit of currency unions suggested b ...
... with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the introduction of the euro was to enhance the gains from the creation of a single European market (Emerson et al. 1992). Another benefit of currency unions suggested b ...
Money demand in the euro area
... Monetary dynamics in the euro area has been exceptionally strong in recent years. The annual growth in M3 averaged 7.9% in the 2001-2008 period, reaching even two-digit growth rates from February 2007 to May 2008. At the same time, prices were comparably stable, with yearly inflation rates averaging ...
... Monetary dynamics in the euro area has been exceptionally strong in recent years. The annual growth in M3 averaged 7.9% in the 2001-2008 period, reaching even two-digit growth rates from February 2007 to May 2008. At the same time, prices were comparably stable, with yearly inflation rates averaging ...
This PDF is a selection from a published volume from... Economic Research
... aversion to liquidity risk can have on current account and the other macroeconomic variables in a simple open economy model. In the model, each representative agent maximizes the utility function over time. Since Obstfeld and Rogoff (1997), usefulness of utility-based models has been widely recognize ...
... aversion to liquidity risk can have on current account and the other macroeconomic variables in a simple open economy model. In the model, each representative agent maximizes the utility function over time. Since Obstfeld and Rogoff (1997), usefulness of utility-based models has been widely recognize ...
The Dollar-Euro Exchange Rate and the Limits to
... one needs to consider in understanding exchange rate fluctuations: movements in macroeconomic fundamentals and revisions of individual forecasting strategies. 4.1 Macroeconomic Fundamentals and Exchange Rate Swings In our model, the exchange rate is determined by the interplay between the decisions ...
... one needs to consider in understanding exchange rate fluctuations: movements in macroeconomic fundamentals and revisions of individual forecasting strategies. 4.1 Macroeconomic Fundamentals and Exchange Rate Swings In our model, the exchange rate is determined by the interplay between the decisions ...
Why Are Interest Rates So Low? A Framework for
... observe in the behavior of individuals. So, the standard theory about interest rates and saving is based on how an economy would behave if it were the simple aggregation or summation of all households on the assumption they all behave like a typical household. As long as the typical household is rep ...
... observe in the behavior of individuals. So, the standard theory about interest rates and saving is based on how an economy would behave if it were the simple aggregation or summation of all households on the assumption they all behave like a typical household. As long as the typical household is rep ...
Does the Canadian economy suffer from Dutch Disease?
... oil prices? A first and important step is to test whether the evolution of the Canadian currency has been driven by the rise in commodity an oil prices. As mentioned above, most of the analyses have relied on the bilateral CAD/USD, either in nominal or real terms. Such an approach exhibits one impor ...
... oil prices? A first and important step is to test whether the evolution of the Canadian currency has been driven by the rise in commodity an oil prices. As mentioned above, most of the analyses have relied on the bilateral CAD/USD, either in nominal or real terms. Such an approach exhibits one impor ...
Mauritius - COMESA Monetary Institute (CMI)
... An increase in money supply could simultaneously have implications for the exchange rate, in terms of depreciation of the domestic currency that could lead to pick-up in inflation and again a fall in the real stock of government bonds held by investors. A depreciated currency also allow the governme ...
... An increase in money supply could simultaneously have implications for the exchange rate, in terms of depreciation of the domestic currency that could lead to pick-up in inflation and again a fall in the real stock of government bonds held by investors. A depreciated currency also allow the governme ...
Does Monetary Cooperation or Confrontation Lead to Successful
... the central bank is independent. We make use of the classification of Kuttner and Posen (2001b) and restrict our sample to periods of full central bank autonomy as measured therein.13 To boost the sample size a little, we also include Canada and Australia post-1991 even though they are classified as ...
... the central bank is independent. We make use of the classification of Kuttner and Posen (2001b) and restrict our sample to periods of full central bank autonomy as measured therein.13 To boost the sample size a little, we also include Canada and Australia post-1991 even though they are classified as ...
Policy Statement - Bank of Botswana
... policy interest rates, alleviation of credit constraints and financial flows, as well as structural reforms to foster competitiveness. Some of the major central banks used forward guidance to indicate thresholds for unemployment and growth that need to be reached before any monetary policy tightenin ...
... policy interest rates, alleviation of credit constraints and financial flows, as well as structural reforms to foster competitiveness. Some of the major central banks used forward guidance to indicate thresholds for unemployment and growth that need to be reached before any monetary policy tightenin ...
accountability - Mercer County Community College
... Since fiduciary resources cannot be used by the government, they are reported only in the fiduciary fund financial statements—not in the government-wide statements ...
... Since fiduciary resources cannot be used by the government, they are reported only in the fiduciary fund financial statements—not in the government-wide statements ...
sturm new 6675605 en
... for participating in the monetary union actually was (and still is) the move to a more independent and thereby more credible central bank. This did not only apply for most Southern European countries, which were in this way able to lower both their interest rates as well as their inflation rates sub ...
... for participating in the monetary union actually was (and still is) the move to a more independent and thereby more credible central bank. This did not only apply for most Southern European countries, which were in this way able to lower both their interest rates as well as their inflation rates sub ...
Martin Schmitz Department of Economics and IIIS, Trinity College Dublin
... Over the last decade, emerging European economies were able to run persistent current account deficits, whereas emerging Asian and the oil exporting countries ran current account surpluses. This has invoked different hypotheses as to global current account imbalances: a frequently mentioned explanat ...
... Over the last decade, emerging European economies were able to run persistent current account deficits, whereas emerging Asian and the oil exporting countries ran current account surpluses. This has invoked different hypotheses as to global current account imbalances: a frequently mentioned explanat ...
Japanese Monetary Policy and International Spillovers
... monetary expansion are negative or positive, whether they lower or raise U.S. GDP. In real world international relations, however, it would seem better if the monetary expansion in one country is accompanied by positive spillovers on the other country. In the real world, an appreciating yen-dollar r ...
... monetary expansion are negative or positive, whether they lower or raise U.S. GDP. In real world international relations, however, it would seem better if the monetary expansion in one country is accompanied by positive spillovers on the other country. In the real world, an appreciating yen-dollar r ...
A r t i c l e s
... On the other hand, if India was already a major exporter of refrigerators to Australia, then depreciation of the rupee would reduce the competit ...
... On the other hand, if India was already a major exporter of refrigerators to Australia, then depreciation of the rupee would reduce the competit ...
foreign exchange and money markets in the context
... Under the fixed foreign exchange rate regime with a limited target zone, the central bank sets margins for the exchange rate that cannot be exceeded. A restriction on the exchange rate affects domestic interest rates – they cannot exceed the interest rate corridor formed jointly by the foreign inter ...
... Under the fixed foreign exchange rate regime with a limited target zone, the central bank sets margins for the exchange rate that cannot be exceeded. A restriction on the exchange rate affects domestic interest rates – they cannot exceed the interest rate corridor formed jointly by the foreign inter ...
Calculating the Unthinkable: Exchange Rate Effects of a Credit Event
... To calculate the EUR-USD exchange rate effects of a credit event of a member of the euro zone, we create a portfolio of credit default swaps (CDS) referencing to the same sovereign entities. For European sovereigns, it is possible to trade CDS that are denominated either in Euro or US-Dollars. These ...
... To calculate the EUR-USD exchange rate effects of a credit event of a member of the euro zone, we create a portfolio of credit default swaps (CDS) referencing to the same sovereign entities. For European sovereigns, it is possible to trade CDS that are denominated either in Euro or US-Dollars. These ...
BRIEFING ON JANUARY 2016 INFLATION REPORT Erdem BAŞÇI 26 January 2016, Ankara
... the reserve option mechanism (ROM) reached a level that is considerably above the external debt payments of banks which are due within one year (Chart 8). Moreover, in the “Monetary and Exchange Rate Policy for 2016”, we announced further steps to strengthen the stabilizing feature of the ROM. All t ...
... the reserve option mechanism (ROM) reached a level that is considerably above the external debt payments of banks which are due within one year (Chart 8). Moreover, in the “Monetary and Exchange Rate Policy for 2016”, we announced further steps to strengthen the stabilizing feature of the ROM. All t ...
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.