THE INTERNATIONALISATION OF THE YEN: ESSENTIAL ISSUES
... italics) illustrates the government’s caution not to encroach on the vested interests of parties involved in the existing markets. Its cautionary approach resulted in delays in taking measures necessary for the internationalisation of the yen and at times emasculated the efforts. The Current Status ...
... italics) illustrates the government’s caution not to encroach on the vested interests of parties involved in the existing markets. Its cautionary approach resulted in delays in taking measures necessary for the internationalisation of the yen and at times emasculated the efforts. The Current Status ...
Mapping Cross-Border Financial Linkages: A Supporting Case
... Objectives. This paper maps cross-border financial linkages and identifies factors that drive them, contributing to the discussion on the appropriate design of a global financial safety net (GFSN). It builds on previous staff work and complements the findings of the companion paper on the Analytics ...
... Objectives. This paper maps cross-border financial linkages and identifies factors that drive them, contributing to the discussion on the appropriate design of a global financial safety net (GFSN). It builds on previous staff work and complements the findings of the companion paper on the Analytics ...
The Yen and the Japanese Economy, 2004
... finally start rising instead of falling. The Bank of Japan is sending the right signal: that it will not increase the interest rate until the CPI inflation rate becomes positive for several consecutive months with no prospect of falling back to deflation.4 Therefore, ending deflation may not automat ...
... finally start rising instead of falling. The Bank of Japan is sending the right signal: that it will not increase the interest rate until the CPI inflation rate becomes positive for several consecutive months with no prospect of falling back to deflation.4 Therefore, ending deflation may not automat ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... unlimited liability, the enskilda banks. After these legislative changes in the 1860s, the Swedish commercial banking system underwent rapid growth. The enskilda banks, the jointstock banks, and the Riksbank competed in the market for deposits, and the enskilda banks and the Riksbank competed in the ...
... unlimited liability, the enskilda banks. After these legislative changes in the 1860s, the Swedish commercial banking system underwent rapid growth. The enskilda banks, the jointstock banks, and the Riksbank competed in the market for deposits, and the enskilda banks and the Riksbank competed in the ...
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... For example, considering that transactions on the current account have often been used to evade capital account controls (Edwards, 1999), policy makers can increase the stringency of capital controls by tightening transactions on the current account restrictions or other systems such as multiple exc ...
... For example, considering that transactions on the current account have often been used to evade capital account controls (Edwards, 1999), policy makers can increase the stringency of capital controls by tightening transactions on the current account restrictions or other systems such as multiple exc ...
NBER WORKING PAPER SERIES PRICE
... Consider a small, open economy and assume that financial variables influence the real variables in this economy with a lag; income, price levels, and the current account balance are assumed to be exogenous;5 the stock of wealth is given and capital gains or losses do not affect ...
... Consider a small, open economy and assume that financial variables influence the real variables in this economy with a lag; income, price levels, and the current account balance are assumed to be exogenous;5 the stock of wealth is given and capital gains or losses do not affect ...
Sterilisation, Capital Mobility and Interest Rate Determination for
... Even though the paper studies the pre-crisis time period, the issues examined are relevant today. 3 Consider Table 1 and Table 2. Table 1 examines country level capital flows for the pre-crisis period. To put this period into context, Table 2 provides some recent trends for Asia in general. It is e ...
... Even though the paper studies the pre-crisis time period, the issues examined are relevant today. 3 Consider Table 1 and Table 2. Table 1 examines country level capital flows for the pre-crisis period. To put this period into context, Table 2 provides some recent trends for Asia in general. It is e ...
The Financial, Economic, Social, and Political
... in certain asset classes, and concerns about exit strategies; ...
... in certain asset classes, and concerns about exit strategies; ...
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... months. The January results are based on the responses of 293 experts. As a rule, the trend of the Ifo Economic Climate indicator correlates well with the actual business-cycle trend for the euro area – measured in annual growth rates of real GDP (see Figure). The Ifo indicator for the economic clim ...
... months. The January results are based on the responses of 293 experts. As a rule, the trend of the Ifo Economic Climate indicator correlates well with the actual business-cycle trend for the euro area – measured in annual growth rates of real GDP (see Figure). The Ifo indicator for the economic clim ...
Foreign currency borrowing by small firms in emerging markets
... amount of their savings domestically, what Schimmelpfennig and Gardner (2008) ascribe to a dedicated investor base. The deposit rate on domestic dollar deposits (about 5%) is also higher than the international dollar deposit rate (Fig. 2). This difference is not arbitraged away by foreign investors ...
... amount of their savings domestically, what Schimmelpfennig and Gardner (2008) ascribe to a dedicated investor base. The deposit rate on domestic dollar deposits (about 5%) is also higher than the international dollar deposit rate (Fig. 2). This difference is not arbitraged away by foreign investors ...
Navigation - Zentrum für Europäische Integrationsforschung
... Deutsch-Französisches Wirtschaftspolitisches Forum Together with other members of the European Union, France and Germany are about to embark on an unprecedented cooperative venture. To be successful, Economic and Monetary Union will require a very high degree of mutual understanding among the policy ...
... Deutsch-Französisches Wirtschaftspolitisches Forum Together with other members of the European Union, France and Germany are about to embark on an unprecedented cooperative venture. To be successful, Economic and Monetary Union will require a very high degree of mutual understanding among the policy ...
TRANSACTION COSTS, MULTIPLE EQUILIBRIA, AND THE
... Marston (1982), Lai (1993), and Chang et al. (1999) dealt with labor market explicitly. Marston (1982) assumed that the wage is determined by the rule of indexation and that employment is unilaterally determined by the firm. Lai (1993) used the efficiency wage hypothesis to describe the labor market ...
... Marston (1982), Lai (1993), and Chang et al. (1999) dealt with labor market explicitly. Marston (1982) assumed that the wage is determined by the rule of indexation and that employment is unilaterally determined by the firm. Lai (1993) used the efficiency wage hypothesis to describe the labor market ...
Cross-Border Banking and Global Liquidity
... banks. This “risk-taking channel”of currency appreciation entails a link between exchange rates and …nancial stability. In addition, given the pre-eminent role of the US dollar as the currency used to denominate debt contracts, our results shed light on why dollar appreciation constitutes a tighteni ...
... banks. This “risk-taking channel”of currency appreciation entails a link between exchange rates and …nancial stability. In addition, given the pre-eminent role of the US dollar as the currency used to denominate debt contracts, our results shed light on why dollar appreciation constitutes a tighteni ...
Paul R. Krugman Working DEINDUSTRIALIZATION, REINDUSTRIALIZATION, AND THE REAL
... sector. This variable may of course take on negative values, corresponding to the case where the resource would be worth more in the nontraded sector. Let us denote this value as V(RT,B); it ...
... sector. This variable may of course take on negative values, corresponding to the case where the resource would be worth more in the nontraded sector. Let us denote this value as V(RT,B); it ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... We take a first step in section 2.4 in analyzing some features of the portfolio of cross-border assets held by foreign investors, with a particular emphasis on understanding fluctuations in the U.S. share in the foreign asset portfolio held by the rest of the world. This section also considers what ...
... We take a first step in section 2.4 in analyzing some features of the portfolio of cross-border assets held by foreign investors, with a particular emphasis on understanding fluctuations in the U.S. share in the foreign asset portfolio held by the rest of the world. This section also considers what ...
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... a. The Internationalization of Production The production of a good or service can be thought of as a series of activities that add value at each step. Typical stages might include design, manufacturing, assembly, marketing and transportation or delivery. This process is sometimes called the value ch ...
... a. The Internationalization of Production The production of a good or service can be thought of as a series of activities that add value at each step. Typical stages might include design, manufacturing, assembly, marketing and transportation or delivery. This process is sometimes called the value ch ...
united - UN
... are not financially sustainable. The initiatives are often based on a project cycle which prescribes funding for a set period of time after which funding is at best uncertain at worst non-existent. This is especially so for State-sponsored projects with support from development agencies, but is also ...
... are not financially sustainable. The initiatives are often based on a project cycle which prescribes funding for a set period of time after which funding is at best uncertain at worst non-existent. This is especially so for State-sponsored projects with support from development agencies, but is also ...
analysis of factors affecting fluctuations in the
... regime were used in this country: the crawling peg (1991-94) and the crawling band (1995-99). The official floating of the Polish currency was announced in April 2000, when the band was abandoned. As in many other countries, Poland was pushed toward floating exchange rate due to the cost of having s ...
... regime were used in this country: the crawling peg (1991-94) and the crawling band (1995-99). The official floating of the Polish currency was announced in April 2000, when the band was abandoned. As in many other countries, Poland was pushed toward floating exchange rate due to the cost of having s ...
Determinants of International Capital Flows:The Case of Malaysia:
... the finding from the push perspective confirms: (i) International interest rates stimulate more inflows of capital to Latin American countries than Asian countries; (ii) interest rate effects are intra-regional in pattern; and (iii) contagion effect brought by the Mexican crisis is more regional in ...
... the finding from the push perspective confirms: (i) International interest rates stimulate more inflows of capital to Latin American countries than Asian countries; (ii) interest rate effects are intra-regional in pattern; and (iii) contagion effect brought by the Mexican crisis is more regional in ...
Terrones TD1
... Recessions associated with financial crises are severe and recoveries from such recessions are typically slow. These features become more pronounced if, in addition, the recession is global. ...
... Recessions associated with financial crises are severe and recoveries from such recessions are typically slow. These features become more pronounced if, in addition, the recession is global. ...
CHAPTER– 5 THE NEGATIVE EFFECTS OF MONEY LAUNDERING
... Further, cases have been documented where criminal activity was the main cause for bank failure. The collapse of European Union Bank, the first bank on internet, serves as one such example. Third, economic policy is compromised. Due to the large amount of money laundered each year, these funds have ...
... Further, cases have been documented where criminal activity was the main cause for bank failure. The collapse of European Union Bank, the first bank on internet, serves as one such example. Third, economic policy is compromised. Due to the large amount of money laundered each year, these funds have ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... the internal profitability of the resulting investment, and the tariff (or subsidy) inclusive real exchange rate must be related to the size of the allowable structural deficit. The main point is that there should be a clear long-run relationship between the ratio of present and future real exchange ...
... the internal profitability of the resulting investment, and the tariff (or subsidy) inclusive real exchange rate must be related to the size of the allowable structural deficit. The main point is that there should be a clear long-run relationship between the ratio of present and future real exchange ...
Inflation Dynamics in Selected East African Countries
... as rising oil and food prices, a diversification program would have significant medium and long-term pay off. This must be implemented as part of broader policy framework aimed at addressing binding structural bottlenecks in order to improve efficiency of intra-regional trade and distribution of goo ...
... as rising oil and food prices, a diversification program would have significant medium and long-term pay off. This must be implemented as part of broader policy framework aimed at addressing binding structural bottlenecks in order to improve efficiency of intra-regional trade and distribution of goo ...
Your foreign exchange specialist
... actual rates used when you transact One-cancel-other order (FX Order Watch) – you place two orders at the same time with FX Order Watch. Whichever target is hit first, that trade is executed and the other order is automatically cancelled. If neither target is hit by the end of the term the order exp ...
... actual rates used when you transact One-cancel-other order (FX Order Watch) – you place two orders at the same time with FX Order Watch. Whichever target is hit first, that trade is executed and the other order is automatically cancelled. If neither target is hit by the end of the term the order exp ...
GreekDebt
... • Total Measures meant to save about 6.7 Billion • A series of riots and strikes have occurred over last 3o days as laws introduced. • News on 3/2/10 indicates the the Eurosystem Central Bank expects more austerity measures. Sources (in order) : http://www.nytimes.com/2010/02/25/world/europe/25gree ...
... • Total Measures meant to save about 6.7 Billion • A series of riots and strikes have occurred over last 3o days as laws introduced. • News on 3/2/10 indicates the the Eurosystem Central Bank expects more austerity measures. Sources (in order) : http://www.nytimes.com/2010/02/25/world/europe/25gree ...
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.