Monetary Policy Statement December 2010 Contents
... prices may decline a little further in the near term. This continued household and business caution suggests current low interest rates are having a less stimulatory effect than in the past. On the positive side, activity in New Zealand’s trading partners continues to expand. Growth in the Asia-Paci ...
... prices may decline a little further in the near term. This continued household and business caution suggests current low interest rates are having a less stimulatory effect than in the past. On the positive side, activity in New Zealand’s trading partners continues to expand. Growth in the Asia-Paci ...
Global outlook - the United Nations
... Weaknesses in major developed economies continue to drag the global recovery and pose risks for world economic stability in the coming years. There will be no quick fix for the problems these economies are still facing in the aftermath of the financial crisis. The unprecedented scale of the policy m ...
... Weaknesses in major developed economies continue to drag the global recovery and pose risks for world economic stability in the coming years. There will be no quick fix for the problems these economies are still facing in the aftermath of the financial crisis. The unprecedented scale of the policy m ...
IS/LM/BP Open Economy Handout
... Exports represent foreign demand for our goods and services. Foreign purchases of goods and services depend, among other things, on foreign income levels (just as our purchases of goods and services depend on our income levels). We assume that foreign income levels are constant, thus, foreigners dem ...
... Exports represent foreign demand for our goods and services. Foreign purchases of goods and services depend, among other things, on foreign income levels (just as our purchases of goods and services depend on our income levels). We assume that foreign income levels are constant, thus, foreigners dem ...
IS-LM-BP Analysis
... Exports represent foreign demand for our goods and services. Foreign purchases of goods and services depend, among other things, on foreign income levels (just as our purchases of goods and services depend on our income levels). We assume that foreign income levels are constant, thus, foreigners dem ...
... Exports represent foreign demand for our goods and services. Foreign purchases of goods and services depend, among other things, on foreign income levels (just as our purchases of goods and services depend on our income levels). We assume that foreign income levels are constant, thus, foreigners dem ...
krugman_PPT_c22
... Source: Transparency International, Global Corruption Report; World Bank, World Development Indicators. Copyright © 2009 Pearson Addison-Wesley. All rights reserved. ...
... Source: Transparency International, Global Corruption Report; World Bank, World Development Indicators. Copyright © 2009 Pearson Addison-Wesley. All rights reserved. ...
Ignorance and Influence: U.S. Economists on Argentina`s
... e = Stated or implied that the peso was overvalued, but favored addressing overvaluation by means other than devaluation. f = Favored combining dollarization with a one-shot devaluation. g = Seemingly contradictory passages on whether exports were competitive. Sources: Appendixes 1 and 2. ...
... e = Stated or implied that the peso was overvalued, but favored addressing overvaluation by means other than devaluation. f = Favored combining dollarization with a one-shot devaluation. g = Seemingly contradictory passages on whether exports were competitive. Sources: Appendixes 1 and 2. ...
Compendium “Monetary Policy Frameworks and
... Bundesbank workshop “Implementing Monetary Policy”, which took place from 27 – 31 January 2014 ...
... Bundesbank workshop “Implementing Monetary Policy”, which took place from 27 – 31 January 2014 ...
NBER WORKING PAPERS SERIES ANATOMY OF A FINANCIAL CRISIS Frederic S. Mishkin
... economic agents who have the most productive investment opportunities. Financial crises interfere with this process because they can drive the economy away from an equilibrium with high output in which financial markets perform well to one in which output declines sharply because the financial syste ...
... economic agents who have the most productive investment opportunities. Financial crises interfere with this process because they can drive the economy away from an equilibrium with high output in which financial markets perform well to one in which output declines sharply because the financial syste ...
The Swiss Experiment: From the Lower Bound to Flexible Exchange Rates
... creating as many Swiss francs as needed to maintain the peg. This announcement stabilized expectations so that nobody wanted to risk losses by betting against the SNB. The Bank had to intervene strongly only during three months in the summer 2012. That intervention was not due to speculation.3 Rathe ...
... creating as many Swiss francs as needed to maintain the peg. This announcement stabilized expectations so that nobody wanted to risk losses by betting against the SNB. The Bank had to intervene strongly only during three months in the summer 2012. That intervention was not due to speculation.3 Rathe ...
NBER WORKING PAPER SERIES MONETARY AND EXCHANGE RATE POLICY COORDINATION IN ASEAN+1
... Sections III-V support the analysis presented in section II. In section III the trade structure of ASEAN and China is laid out in terms of both geographic sources of imports and markets for exports, and of the commodity structure of trade. The structure of trade by commodity and sources and markets ...
... Sections III-V support the analysis presented in section II. In section III the trade structure of ASEAN and China is laid out in terms of both geographic sources of imports and markets for exports, and of the commodity structure of trade. The structure of trade by commodity and sources and markets ...
The future of China*s exchange rate:
... China has different investments with different purposes; in this chapter we will analyze their investments in foreign currencies and foreign bonds. A simple economic mechanism is that off supply and demand. It follows when a country buys foreign currency in exchange for its domestic currency. Demand ...
... China has different investments with different purposes; in this chapter we will analyze their investments in foreign currencies and foreign bonds. A simple economic mechanism is that off supply and demand. It follows when a country buys foreign currency in exchange for its domestic currency. Demand ...
A Flop And A debAcle: InsIde the IMF`s GlobAl RebAlAncInG Acts
... 2008, the need for economic cooperation among major powers is more urgent than ever — particularly on the issue of trade and capital flow imbalances. Even those who doubt that global imbalances helped cause the crisis acknowledge the desirability of a well-coordinated plan aimed at shrinking the imb ...
... 2008, the need for economic cooperation among major powers is more urgent than ever — particularly on the issue of trade and capital flow imbalances. Even those who doubt that global imbalances helped cause the crisis acknowledge the desirability of a well-coordinated plan aimed at shrinking the imb ...
Exchange Rates as Exchange Rate Common Factors"
... To partially preview our results, an out-of-sample forecasting exercise from January 2005 through December 2012 results in Theil’s U-statistic values that are less than one for 18 out of 27 currencies at the 12-month horizon and for 25 out of 27 currencies at the 24-month horizon (see Table 6). Our ...
... To partially preview our results, an out-of-sample forecasting exercise from January 2005 through December 2012 results in Theil’s U-statistic values that are less than one for 18 out of 27 currencies at the 12-month horizon and for 25 out of 27 currencies at the 24-month horizon (see Table 6). Our ...
Chapter 21. Exchange Rate Regimes
... the real exchange rate should adjust to a level consistent with current account balance. If there is a large current account deficit today, then presumably the expected long-run real exchange rate will be lower (more depreciated) than the current real exchange rate, other things equal. ...
... the real exchange rate should adjust to a level consistent with current account balance. If there is a large current account deficit today, then presumably the expected long-run real exchange rate will be lower (more depreciated) than the current real exchange rate, other things equal. ...
Real Exchange Rate Dynamics in Sticky-Price Models with Capital
... this feature to the two-country multisector model of Carvalho and Nechio (2011). The motivations for this choice are twofold. First, we want to start from a model that, in the absence of capital accumulation, produces empirically plausible RER dynamics. That paper shows that this is achieved when th ...
... this feature to the two-country multisector model of Carvalho and Nechio (2011). The motivations for this choice are twofold. First, we want to start from a model that, in the absence of capital accumulation, produces empirically plausible RER dynamics. That paper shows that this is achieved when th ...
Did the Indian capital controls work as a tool of macroeconomic
... higher investment, foster the diversification of investment risk and contribute to the development of financial markets. At the same time, for emerging economies, financial integration can create macroeconomic vulnerability with episodes of capital surge and reversals. A surge of capital inflows can ...
... higher investment, foster the diversification of investment risk and contribute to the development of financial markets. At the same time, for emerging economies, financial integration can create macroeconomic vulnerability with episodes of capital surge and reversals. A surge of capital inflows can ...
NBER WORKING PAPER SERIES EXTERNALITY Joshua Aizenman
... hoarding reserves by China in Figure 2, reveals that the hoarding trend from 2001 has been driven mostly by China. Chinese international reserves were stable in the aftermath of the East Asian 1997-8 crisis, but took off at an accelerated speed after 2001, more than quadrupled in five years [2001-20 ...
... hoarding reserves by China in Figure 2, reveals that the hoarding trend from 2001 has been driven mostly by China. Chinese international reserves were stable in the aftermath of the East Asian 1997-8 crisis, but took off at an accelerated speed after 2001, more than quadrupled in five years [2001-20 ...
Business Cycles and the Bible
... susceptible to weather-driven AS shocks. This fact is borne out by the numerous references in the Bible to droughts and famines.4 Consequently, business cycles during Bible times were usually caused by AS shocks. Probably the most famous example is found in Genesis 41. This is the well-known story o ...
... susceptible to weather-driven AS shocks. This fact is borne out by the numerous references in the Bible to droughts and famines.4 Consequently, business cycles during Bible times were usually caused by AS shocks. Probably the most famous example is found in Genesis 41. This is the well-known story o ...
Do China and oil exporters influence major currency configurations?
... how does a diversification and rebalancing of global foreign exchange reserves alter these currency configurations? These are arguably two of today’s most pertinent issues influencing exchange rate dynamics, in particular of the US dollar, the euro and the yen. Understanding the answers to these que ...
... how does a diversification and rebalancing of global foreign exchange reserves alter these currency configurations? These are arguably two of today’s most pertinent issues influencing exchange rate dynamics, in particular of the US dollar, the euro and the yen. Understanding the answers to these que ...
LESSON - 27 FOREIGN EXCHANGE – 2 EXCHANGE CONTROL
... currency. A lowering of the bank rate is expected to produce the opposite results. Regulation of Foreign Trade The rate of exchange may be controlled by regulating the foreign trade of the country. For example, by encouraging exports and discouraging imports, a country can increase the demand for, i ...
... currency. A lowering of the bank rate is expected to produce the opposite results. Regulation of Foreign Trade The rate of exchange may be controlled by regulating the foreign trade of the country. For example, by encouraging exports and discouraging imports, a country can increase the demand for, i ...
Comparative Study: Factors that Affect Foreign Currency Reserves
... estimation equation to predict the level of reserves over the 1980-1996 period based on the buffer-stock theory developed in the seventies. They found that there are four key factors in predicting the level of foreign reserves. These four key factors are: the size of international transactions, thei ...
... estimation equation to predict the level of reserves over the 1980-1996 period based on the buffer-stock theory developed in the seventies. They found that there are four key factors in predicting the level of foreign reserves. These four key factors are: the size of international transactions, thei ...
Financial Frictions and Unconventional Monetary Policy in Emerging
... different if the equity of banks is denominated in domestic currency while foreign loans remain denominated in dollars. In that case, an adverse shock that results in a real depreciation reduces the value of banks’ equity, also cutting the capacity of the financial intermediary to borrow abroad. Thi ...
... different if the equity of banks is denominated in domestic currency while foreign loans remain denominated in dollars. In that case, an adverse shock that results in a real depreciation reduces the value of banks’ equity, also cutting the capacity of the financial intermediary to borrow abroad. Thi ...
The Euro after three years
... In sum, the performance of the real economy in the Euro’s first three years gives no indication that the ECB’s policy has been detrimental to the other macroeconomic targets in the Euro area. The slowdown in activity can be clearly related to a strong supply shock. Again the ECB followed the mainstr ...
... In sum, the performance of the real economy in the Euro’s first three years gives no indication that the ECB’s policy has been detrimental to the other macroeconomic targets in the Euro area. The slowdown in activity can be clearly related to a strong supply shock. Again the ECB followed the mainstr ...
600 - freit
... on the identification of the advantages and disadvantages of the capital account liberalization policies. In fact, the severe financial crises that hit emerging countries led to a rethinking of financial integration strategies. The global financial crisis of 2007, which began with financial market p ...
... on the identification of the advantages and disadvantages of the capital account liberalization policies. In fact, the severe financial crises that hit emerging countries led to a rethinking of financial integration strategies. The global financial crisis of 2007, which began with financial market p ...
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.