Dear Akin - Les Leba.
... mechanism for determining the appropriate value of the naira. In the first place, the CBN has never condescended to explain why it continues to change the monthly dollar revenue at less than N110=$1 so that the states and local governments who are paid the resultant naira sum are forced to buy back ...
... mechanism for determining the appropriate value of the naira. In the first place, the CBN has never condescended to explain why it continues to change the monthly dollar revenue at less than N110=$1 so that the states and local governments who are paid the resultant naira sum are forced to buy back ...
Reserve Accumulation, Growth and Financial Crises
... The foundations for the theoretical study of cross-country knowledge flows were laid down by Grossman and Helpman (1991), while Klenow and Rodriguez-Clare (2005) stress how a model of the world economy has to feature international knowledge spillovers in order to be consistent with the growth patter ...
... The foundations for the theoretical study of cross-country knowledge flows were laid down by Grossman and Helpman (1991), while Klenow and Rodriguez-Clare (2005) stress how a model of the world economy has to feature international knowledge spillovers in order to be consistent with the growth patter ...
內生變數
... • Savers care about two main characteristics of an asset other than its return: – Risk – The variability it contributes to savers’ wealth ...
... • Savers care about two main characteristics of an asset other than its return: – Risk – The variability it contributes to savers’ wealth ...
Country report CHILE - Rabobank, Economic Research
... External position China has foreign reserves equal to five months of imports, which does not look overly comfortable at first sight. However, we note that the exchange rate regime is (still) rather flexible, with a low level of dollarization of the financial system. Furthermore, the government also ...
... External position China has foreign reserves equal to five months of imports, which does not look overly comfortable at first sight. However, we note that the exchange rate regime is (still) rather flexible, with a low level of dollarization of the financial system. Furthermore, the government also ...
Hot Money Flows, Cycles in Primary Commodity Prices, and
... For better or for worse, the world economy is on a dollar standard—and has been since the end of World War II [McKinnon 2013, chs. 1& 2]. From 1945 up to the late 1960s, this accident of history was for the better. Monetary policy of the United States remained stable, and its current account showed ...
... For better or for worse, the world economy is on a dollar standard—and has been since the end of World War II [McKinnon 2013, chs. 1& 2]. From 1945 up to the late 1960s, this accident of history was for the better. Monetary policy of the United States remained stable, and its current account showed ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Exchange Rate Theory and Practice
... seen, for example, in International Financial Statistics, thus needs to be supplemented by some additional information on the degree of flexibility allowed in the exchange rate. Table 15.2 shows in column 1 the formal classification of each country’s exchange rate regime during the 1970s, but column ...
... seen, for example, in International Financial Statistics, thus needs to be supplemented by some additional information on the degree of flexibility allowed in the exchange rate. Table 15.2 shows in column 1 the formal classification of each country’s exchange rate regime during the 1970s, but column ...
PDF
... and Italy out of the system, and the Russian rouble crisis in 1998 and the Asian crisis of 199798 that may be considered the most significant. Relative to the US dollar, the values of most Asian currencies fell drastically. Between July 1997 and January 1998, the Thai baht fell by 55%, the Indonesia ...
... and Italy out of the system, and the Russian rouble crisis in 1998 and the Asian crisis of 199798 that may be considered the most significant. Relative to the US dollar, the values of most Asian currencies fell drastically. Between July 1997 and January 1998, the Thai baht fell by 55%, the Indonesia ...
Chapter 2 - State Bank of Pakistan
... Direct Investment Direct investment implies a long-term relationship between the direct investor and the direct investment enterprise and a significant degree of influence by the direct investor on the management of the direct investment enterprise. Direct investment comprises the initial transactio ...
... Direct Investment Direct investment implies a long-term relationship between the direct investor and the direct investment enterprise and a significant degree of influence by the direct investor on the management of the direct investment enterprise. Direct investment comprises the initial transactio ...
10_Floating
... under-valued foreign currency assets. • Central banks thought they would stop trading in the foreign exchange for a while, and would let exchange rates adjust to supply and demand, and then would re-impose fixed exchange rates soon. • But no new global system of fixed rates was started ...
... under-valued foreign currency assets. • Central banks thought they would stop trading in the foreign exchange for a while, and would let exchange rates adjust to supply and demand, and then would re-impose fixed exchange rates soon. • But no new global system of fixed rates was started ...
Maurice Obstfeld Working
... private contracts can be costlessly enforced. There is only one departure from the ArrowDebreu assumptions: Some feature of individuals' preferences or constraints induces them to hold monies that are issued by national governments. Money demand is conventionally modeled ...
... private contracts can be costlessly enforced. There is only one departure from the ArrowDebreu assumptions: Some feature of individuals' preferences or constraints induces them to hold monies that are issued by national governments. Money demand is conventionally modeled ...
International Monetary Reform and the Stabilization Problem J. Marcus Fleming
... more emphasis on the need for a flexible response to variations in the need for international credit. This led them to advocate a system of "on demand" convertibility (rather than asset settlement) in which conversion need not take place if both parties were agreeable, to waive it and, indeed, would ...
... more emphasis on the need for a flexible response to variations in the need for international credit. This led them to advocate a system of "on demand" convertibility (rather than asset settlement) in which conversion need not take place if both parties were agreeable, to waive it and, indeed, would ...
Key Development at a Glance - Claremont Graduate University
... currencies instead of US dollar only. B.Why not the first but the second choice? ---The central exchange rate needs to be adjusted always under the first option ---The revaluation expectation would push it to the ceiling if the band is too narrow, which is similar to one time adjustment of exchange ...
... currencies instead of US dollar only. B.Why not the first but the second choice? ---The central exchange rate needs to be adjusted always under the first option ---The revaluation expectation would push it to the ceiling if the band is too narrow, which is similar to one time adjustment of exchange ...
Unit II Macroeconomics FRQ Release Practice
... (i) A United States resident buys chocolate from Belgium. (ii) A United States manufacturer buys computer equipment from Japan. (b) How would an increase in the real income in the United States affect the United States current account balance? Explain. (c) Using a correctly labeled graph of the fore ...
... (i) A United States resident buys chocolate from Belgium. (ii) A United States manufacturer buys computer equipment from Japan. (b) How would an increase in the real income in the United States affect the United States current account balance? Explain. (c) Using a correctly labeled graph of the fore ...
A Comparative Study of BRICS Countries
... people living in a specific country. It shows the number of people dependent on the economy of a specific country. The indicator GDP per capita is considered a better measure of comparing the economy of different countries. GDP per capita gives a rough idea of the living standards of its people. Som ...
... people living in a specific country. It shows the number of people dependent on the economy of a specific country. The indicator GDP per capita is considered a better measure of comparing the economy of different countries. GDP per capita gives a rough idea of the living standards of its people. Som ...
Dollarization Explained - Federal Reserve Bank of Richmond
... sider how their actions will affect the smaller countries that of eliminating the central bank function, a government can rely on their monetary stability This won’t be a problem if replace it with a “currency board.” This board would be the anchor country is likely to experience the same sorts of r ...
... sider how their actions will affect the smaller countries that of eliminating the central bank function, a government can rely on their monetary stability This won’t be a problem if replace it with a “currency board.” This board would be the anchor country is likely to experience the same sorts of r ...
References
... acquisitions by issuing central bank bills and bonds as well as through controls on bank lending.6 Despite these sterilization efforts, M1 grew by 19% in 2003 and 15% in 2004, while inflation as measured by the CPI rose from virtually nil in 2000 to 4% in 2000. As basic open-economy macroeconomic th ...
... acquisitions by issuing central bank bills and bonds as well as through controls on bank lending.6 Despite these sterilization efforts, M1 grew by 19% in 2003 and 15% in 2004, while inflation as measured by the CPI rose from virtually nil in 2000 to 4% in 2000. As basic open-economy macroeconomic th ...
THE THEORY OF OPTIMUM CURRENCY AREAS P K
... The Existence of Asymmetric Shocks Mundell (1961) states, “The argument for flexible exchange rates based on national currencies is only as valid as the Ricardian assumption about factor mobility”. Ricardo’s definition of the region is as an area where the factors of production are internally mobile ...
... The Existence of Asymmetric Shocks Mundell (1961) states, “The argument for flexible exchange rates based on national currencies is only as valid as the Ricardian assumption about factor mobility”. Ricardo’s definition of the region is as an area where the factors of production are internally mobile ...
Exhange Rate Project
... ratios of the two countries. Figure 3 shows the ratio of the price indices over the period between 1620 and 2000, with 1900 as the base year. Two things stand out: The relative decline in prices at the end of the Dutch Golden Age, and the relatively high prices in Britain during the past fifty years ...
... ratios of the two countries. Figure 3 shows the ratio of the price indices over the period between 1620 and 2000, with 1900 as the base year. Two things stand out: The relative decline in prices at the end of the Dutch Golden Age, and the relatively high prices in Britain during the past fifty years ...
7 Determinants of the Canada
... that within this portfolio, the weight that each currency holds is determined by expectations of their future values. For example, an exogenous shock to the terms of trade in favour of one country will allow it to increase its imports because the relative price of its good has gone up. However, this ...
... that within this portfolio, the weight that each currency holds is determined by expectations of their future values. For example, an exogenous shock to the terms of trade in favour of one country will allow it to increase its imports because the relative price of its good has gone up. However, this ...
GLOBALIZATION OF CAPITAL AND TERMS OF TRADE MOVEMENTS Prabhat Patnaik
... doing so is that their relative values vis-a-vis the dominant currency must themselves be relatively stable. This requirement, in the case of other currencies of the advanced capitalist countries which are substantial receptacles of wealth, is fulfilled through appropriate deflation of their economi ...
... doing so is that their relative values vis-a-vis the dominant currency must themselves be relatively stable. This requirement, in the case of other currencies of the advanced capitalist countries which are substantial receptacles of wealth, is fulfilled through appropriate deflation of their economi ...
United Parcel Service Financial Challenges in a Developed or
... other words, “a successful hedging program may increase shareholder value by reducing costs related to different market imperfections.” (Hagelin and Pramborg, 2004, p.15) However, developed and developing nations might require different hedging programs to reduce foreign exchange rates risks in thos ...
... other words, “a successful hedging program may increase shareholder value by reducing costs related to different market imperfections.” (Hagelin and Pramborg, 2004, p.15) However, developed and developing nations might require different hedging programs to reduce foreign exchange rates risks in thos ...
10 - CSUN.edu
... propensities to consume of the government and of taxpayers. If the government spends $1 more and finances this spending by taxing the public $1 more, aggregate demand will have risen because the government spends the entire $1, while the public reduces its spending by less than $1 (i.e., $1 x mpc –w ...
... propensities to consume of the government and of taxpayers. If the government spends $1 more and finances this spending by taxing the public $1 more, aggregate demand will have risen because the government spends the entire $1, while the public reduces its spending by less than $1 (i.e., $1 x mpc –w ...
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.