![Time of Troubles: The Yen and Japan`s Economy, 1985-2008](http://s1.studyres.com/store/data/014992031_1-d8b6c879ad3a90ee8139866247bf0214-300x300.png)
Time of Troubles: The Yen and Japan`s Economy, 1985-2008
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
... the early 1990s as Japan’s real economy and its financial system deteriorated? In their prominent study of the Japanese economy through 1997, McKinnon and Ohno (1997, p. 2) go so far as to “treat the course of the yen-dollar exchange rate as a forcing variable for Japanese monetary policy, rather t ...
The Effects of Exchange Rate Regimes on Real Exchange
... consensus about the connection between exchange rate regimes and real exchange rate (RER) volatility. This question is especially important because the RER volatility it is supposed to have a strong effect on several macroeconomic variables among which consumption, investment and trade flows3 (Frank ...
... consensus about the connection between exchange rate regimes and real exchange rate (RER) volatility. This question is especially important because the RER volatility it is supposed to have a strong effect on several macroeconomic variables among which consumption, investment and trade flows3 (Frank ...
Central Banking in the Philippines: Then, Now and the Future
... well that a few percentage points added to the interest rate can have large implications on the profitability, if not viability, of their enterprises. Likewise, depositors are looking for safe and sound banks that can give them the most attractive deposit rate. Although interest rates are freely det ...
... well that a few percentage points added to the interest rate can have large implications on the profitability, if not viability, of their enterprises. Likewise, depositors are looking for safe and sound banks that can give them the most attractive deposit rate. Although interest rates are freely det ...
Law of the Republic of Kazakhstan on Currency
... Grounds for denying a license shall be: 1) failure to submit the documents or other information foreseen in accordance with this Law; 2) inconsistency of the operation with legislation of the Republic of Kazakhstan; 3) failure of the currency operation and (or) the applicant to meet requirements est ...
... Grounds for denying a license shall be: 1) failure to submit the documents or other information foreseen in accordance with this Law; 2) inconsistency of the operation with legislation of the Republic of Kazakhstan; 3) failure of the currency operation and (or) the applicant to meet requirements est ...
Policy Trade-o¤s and International Spillover E¤ects at the Zero Bound Alex Haberis
... As far as policy in open economies is concerned, Svensson (2001), Svensson (2003a), Coenen and Wieland (2003), and Nakajima (2008) study the zero interest rate policy in an environment where a single country hits the ZLB. Fujiwara et al. (2010) analyses the optimal coordination policy in a two-count ...
... As far as policy in open economies is concerned, Svensson (2001), Svensson (2003a), Coenen and Wieland (2003), and Nakajima (2008) study the zero interest rate policy in an environment where a single country hits the ZLB. Fujiwara et al. (2010) analyses the optimal coordination policy in a two-count ...
Monetary Institutions, Partisanship, and Inflation Targeting Bumba
... pioneer in 1989 when Parliament passed the Reserve Bank of New Zealand Act, thereby establishing a quantitative target for inflation (see Bernanke et al. 1999; Nicholl and Archer 1992). A number of countries soon followed suit, including Canada (1991), Australia (1993), Finland (1993), and Mexico ( ...
... pioneer in 1989 when Parliament passed the Reserve Bank of New Zealand Act, thereby establishing a quantitative target for inflation (see Bernanke et al. 1999; Nicholl and Archer 1992). A number of countries soon followed suit, including Canada (1991), Australia (1993), Finland (1993), and Mexico ( ...
A small open economy`s view on interest rate differential`s
... The determinants of nominal exchange rates has been investigated in various theoretical models. Hacker, Karlsson and Månsson (2012 and 2014) have investigated the nominal interest rate differentials relationship to the nominal exchange rates using wavelet analysis, where one can decompose the time s ...
... The determinants of nominal exchange rates has been investigated in various theoretical models. Hacker, Karlsson and Månsson (2012 and 2014) have investigated the nominal interest rate differentials relationship to the nominal exchange rates using wavelet analysis, where one can decompose the time s ...
Nordics in Global Crisis
... The process of globalization has in the past couple of decades been very rapid but also lopsided. Hundreds of millions of workers, mainly from Asia, have entered production geared to international markets. This process has improved, inter alia, the lot of poor Chinese and Indians workers, while at t ...
... The process of globalization has in the past couple of decades been very rapid but also lopsided. Hundreds of millions of workers, mainly from Asia, have entered production geared to international markets. This process has improved, inter alia, the lot of poor Chinese and Indians workers, while at t ...
contracts 9,899,780,283 traded
... exchange-traded futures and options are perfect vehicles for trading. In addition to commodity trading advisors, two groups that have been a major force in our markets have been hedge funds and long-only commodity funds. Both groups have attracted large amounts of money, and each has had a major inf ...
... exchange-traded futures and options are perfect vehicles for trading. In addition to commodity trading advisors, two groups that have been a major force in our markets have been hedge funds and long-only commodity funds. Both groups have attracted large amounts of money, and each has had a major inf ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... better still if it “cheats” on the agreement. That is, it will be able to do better in the short-run, assuming that the other countries leave their policies as agreed; in future periods, the other countries will presumably retaliate by also abandoning the agreement. But economists have probably over ...
... better still if it “cheats” on the agreement. That is, it will be able to do better in the short-run, assuming that the other countries leave their policies as agreed; in future periods, the other countries will presumably retaliate by also abandoning the agreement. But economists have probably over ...
hefte3-07 - bibsys brage
... Over the last 30 years export processing free zones (EPZ) have become an important part of developing countries efforts’ to stimulate exports of manufacturing goods. Starting in East Asia, export zones have spread throughout the developing world, including Sub Saharan Africa. EPZ are in the process ...
... Over the last 30 years export processing free zones (EPZ) have become an important part of developing countries efforts’ to stimulate exports of manufacturing goods. Starting in East Asia, export zones have spread throughout the developing world, including Sub Saharan Africa. EPZ are in the process ...
The relevance of Keynes - Dr. Robert E. Looney Homepage
... it enlarges the scope for speculation and thus makes economic life more volatile. This has been exactly the effect of ‘securitisation’ in the last few years. However, the story is only half told. Investment depends on what Keynes calls the marginal efficiency of capital (MEC)—roughly, the expected r ...
... it enlarges the scope for speculation and thus makes economic life more volatile. This has been exactly the effect of ‘securitisation’ in the last few years. However, the story is only half told. Investment depends on what Keynes calls the marginal efficiency of capital (MEC)—roughly, the expected r ...
PDF
... small portion of the Asian-Pacific market, pesticide usage there has been increasing and creating significant environmental and health externalities (Pinagli and Roger, 1995). The Philippine government has invested in IPM research and training and has imposed an import tariff on pesticides that woul ...
... small portion of the Asian-Pacific market, pesticide usage there has been increasing and creating significant environmental and health externalities (Pinagli and Roger, 1995). The Philippine government has invested in IPM research and training and has imposed an import tariff on pesticides that woul ...
146s10_l16a.pdf
... Monetary policy: policy in which the central bank influences the supply of monetary assets Asset market responds very rapidly...goods market less so Fiscal policy: change G or T . Fiscal policy affects aggregates demand and output first Temporary policy changes are expected to be reversed in the nea ...
... Monetary policy: policy in which the central bank influences the supply of monetary assets Asset market responds very rapidly...goods market less so Fiscal policy: change G or T . Fiscal policy affects aggregates demand and output first Temporary policy changes are expected to be reversed in the nea ...
Multilateral Aspects of Managing the Capital Account
... The financial crisis has again brought home the profound financial linkages across countries, often manifest in highly volatile capital flows. This volatility has prompted interest in multilateral principles to guide policies in both source and recipient countries. This note discusses the analytical ...
... The financial crisis has again brought home the profound financial linkages across countries, often manifest in highly volatile capital flows. This volatility has prompted interest in multilateral principles to guide policies in both source and recipient countries. This note discusses the analytical ...
Farms, Fertiliser, and Financial Frictions: Yields from a DSGE Model
... of low-income countries (LICs); and (2) monetary policy rules useful for managing such shocks. Our Dynamic Stochastic General Equilibrium (DSGE) model builds upon the ‘financial accelerator’ model elaborated in Bernanke et al. (1999) [BGG] and Gertler et al. (2007) [GGN] while borrowing from the fra ...
... of low-income countries (LICs); and (2) monetary policy rules useful for managing such shocks. Our Dynamic Stochastic General Equilibrium (DSGE) model builds upon the ‘financial accelerator’ model elaborated in Bernanke et al. (1999) [BGG] and Gertler et al. (2007) [GGN] while borrowing from the fra ...
70 Working Paper The benefits and costs of monetary union in Southern Africa:
... Selected macroeconomic indicators of the SADC economies are presented in Table 2, and trade indicators are presented in Tables 3 and 4. These indicators merit several comments. First, SADC economies differ markedly in size and structure (Table 2). South Africa, by far the largest economy (accountin ...
... Selected macroeconomic indicators of the SADC economies are presented in Table 2, and trade indicators are presented in Tables 3 and 4. These indicators merit several comments. First, SADC economies differ markedly in size and structure (Table 2). South Africa, by far the largest economy (accountin ...
Trend Shocks, Risk Sharing and Cross- Country Portfolio Holdings Yavuz ARSLAN Gürsu KELEŞ
... rates (or terms of trade). In Table 4, we see that this correlation for the real exchange rate (terms of trade) is 0.71 (0.52). In other words, countries consume relatively more than the rest of the world when their …nal (tradable) goods are more expensive. This shows the lack of risk sharing in the ...
... rates (or terms of trade). In Table 4, we see that this correlation for the real exchange rate (terms of trade) is 0.71 (0.52). In other words, countries consume relatively more than the rest of the world when their …nal (tradable) goods are more expensive. This shows the lack of risk sharing in the ...
The effect of Australian cash rate target announcements
... objectives, including its control of monetary aggregates, the stability of Australian currency, full employment objective and the growth and prosperity of the economy. ...
... objectives, including its control of monetary aggregates, the stability of Australian currency, full employment objective and the growth and prosperity of the economy. ...
The role of house prices in the monetary policy transmission
... contemporaneous restrictions on the interaction between monetary policy and house prices (see e.g., Assenmacher-Wesche and Gerlach, 2008a,b; Goodhart and Hofmann, 2001; Iacoviello, 2005; Iacoviello and Minetti, 2003, 2008; Giuliodori, 2005). In particular, they either assume that house prices are re ...
... contemporaneous restrictions on the interaction between monetary policy and house prices (see e.g., Assenmacher-Wesche and Gerlach, 2008a,b; Goodhart and Hofmann, 2001; Iacoviello, 2005; Iacoviello and Minetti, 2003, 2008; Giuliodori, 2005). In particular, they either assume that house prices are re ...
This PDF is a selection from a published volume from... Research Volume Title: International Dimensions of Monetary Policy
... goods with local inputs (Corsetti and Dedola 2005; Corsetti, Dedola, and Leduc 2008b). In this framework, provided that the tradable goods and the local inputs are poor substitutes in production, the presence of local inputs tends to mute the response of upstream prices to shocks (corresponding to a ...
... goods with local inputs (Corsetti and Dedola 2005; Corsetti, Dedola, and Leduc 2008b). In this framework, provided that the tradable goods and the local inputs are poor substitutes in production, the presence of local inputs tends to mute the response of upstream prices to shocks (corresponding to a ...
NBER WORKING PAPER SERIES ASSESSING INTERNATIONAL EFFICIENCY Jonathan Heathcote Fabrizio Perri
... However, which features of efficient allocations are hallmarks of international efficiency will not always be obvious. For this reason a useful step is to compute the theoretical predictions of alternative models in which there is no world social planner, and in which allocations are determined in a ...
... However, which features of efficient allocations are hallmarks of international efficiency will not always be obvious. For this reason a useful step is to compute the theoretical predictions of alternative models in which there is no world social planner, and in which allocations are determined in a ...
Foreign-exchange reserves
Foreign-exchange reserves (also called forex reserves or FX reserves) are assets held by a central bank or other monetary authority, usually in various reserve currencies, mostly the United States dollar, and to a lesser extent the euro, the pound sterling, and the Japanese yen, and used to back its liabilities—e.g., the local currency issued, and the various bank reserves deposited with the central bank by the government or by financial institutions.