The International Monetary Fund and East Asian Financial Crisis
... of failing, the government would bail them out. Such behavior led to “crony capitalism” where government officials in the affected countries implicitly guaranteed loans to corporations that were closely connected to them. However, prior to capital account liberalization, East Asian countries had imp ...
... of failing, the government would bail them out. Such behavior led to “crony capitalism” where government officials in the affected countries implicitly guaranteed loans to corporations that were closely connected to them. However, prior to capital account liberalization, East Asian countries had imp ...
The global economic crisis and its implications for the
... This has to be financed either through savings (international reserves) or borrowing from ROW But IR are insufficient in most countries and external financing is not available due to the crisis Economic policy dilemma: contract domestic demand through contractionary policies or let domestic currenci ...
... This has to be financed either through savings (international reserves) or borrowing from ROW But IR are insufficient in most countries and external financing is not available due to the crisis Economic policy dilemma: contract domestic demand through contractionary policies or let domestic currenci ...
Does Europe`s Path to Monetary Union Provide Lessons for East Asia?
... bled computers in the U.S. and Europe. So, indirectly and directly, East Asian countries still depend much more heavily on exports to countries outside the region.Thus, East Asia must be more concerned than Europe about exchange rate stability against currencies outside the region as well as within ...
... bled computers in the U.S. and Europe. So, indirectly and directly, East Asian countries still depend much more heavily on exports to countries outside the region.Thus, East Asia must be more concerned than Europe about exchange rate stability against currencies outside the region as well as within ...
ECON110 Tutorial 12
... – Bonds purchase (by East Timorese firm) KA Credit (KA surplus) – CAB + KAB = 0 ...
... – Bonds purchase (by East Timorese firm) KA Credit (KA surplus) – CAB + KAB = 0 ...
PowerPoint 演示文稿 - Tulane University
... Thus they lent out more money because their balance sheets looked good, and prices went up more, and they lent more, etc. Prices increased rapidly, and lending standards were relaxed. Increasing lending against appreciating assets without understanding that one of the main reasons for the increased ...
... Thus they lent out more money because their balance sheets looked good, and prices went up more, and they lent more, etc. Prices increased rapidly, and lending standards were relaxed. Increasing lending against appreciating assets without understanding that one of the main reasons for the increased ...
LMAX EXCHANGE Wall Street 30 (Mini) Contract Terms
... LMAX will (i) consult Members on any proposed amendment to the Contract Terms; and (ii) give Members a minimum period of 10 Business Days to comment on the proposed amendment. LMAX will notify Members of any amendment as Amendments to soon as practicable by email and/or by posting a notice on its we ...
... LMAX will (i) consult Members on any proposed amendment to the Contract Terms; and (ii) give Members a minimum period of 10 Business Days to comment on the proposed amendment. LMAX will notify Members of any amendment as Amendments to soon as practicable by email and/or by posting a notice on its we ...
14.02 Principles of Macroeconomics Problem Set 3 Solutions Fall 2004
... surplus. (Assume there is no statistical discrepancy.) True. Mercedes cars are US imports. Therefore, Dan’s purchase is recorded as -150,000 in the US current account. Why not $160,000? It is because the dealer is also a US agent. Thus, the $10,000 that the dealer keeps after the transaction does no ...
... surplus. (Assume there is no statistical discrepancy.) True. Mercedes cars are US imports. Therefore, Dan’s purchase is recorded as -150,000 in the US current account. Why not $160,000? It is because the dealer is also a US agent. Thus, the $10,000 that the dealer keeps after the transaction does no ...
IPE4 (vnd.ms-powerpoint, it, 481 KB, 4/19/11)
... • Under a fixed exchange rate system, the government does not allow the forces of supply and demand to determine the exchange rate. • Instead, the government fixes the exchange rate at what it believes is the "right" rate, and the central bank, armed with a stockpile of foreign exchange reserves, s ...
... • Under a fixed exchange rate system, the government does not allow the forces of supply and demand to determine the exchange rate. • Instead, the government fixes the exchange rate at what it believes is the "right" rate, and the central bank, armed with a stockpile of foreign exchange reserves, s ...
Capital Inflow into Developing Economies: A Macroeconomic Study
... funds the RBI has been buying up foreign exchange, especially dollar, from the market on a massive scale. The huge stock is invested mostly in US Treasury Bills which yield fairly ...
... funds the RBI has been buying up foreign exchange, especially dollar, from the market on a massive scale. The huge stock is invested mostly in US Treasury Bills which yield fairly ...
Russia`s Response to the Global Financial Crisis
... several important ways. Its reserve fund was never intended as a long-term, Norwegian-type entity for maintaining popular welfare in the post-hydrocarbon era. At 13 percent of GDP, the fund’s main role was to soften fluctuations in fiscal revenue (although a smaller part of the fund was separated in ...
... several important ways. Its reserve fund was never intended as a long-term, Norwegian-type entity for maintaining popular welfare in the post-hydrocarbon era. At 13 percent of GDP, the fund’s main role was to soften fluctuations in fiscal revenue (although a smaller part of the fund was separated in ...
Flexibility in Monetary Policy Hakan Kara
... • Modify the existing inflation targeting regime to incorporate ...
... • Modify the existing inflation targeting regime to incorporate ...
Unit 8 PPT
... the same effect as devaluation—it increases exports and reduces imports, increasing aggregate demand even more than the intended monetary policy! ...
... the same effect as devaluation—it increases exports and reduces imports, increasing aggregate demand even more than the intended monetary policy! ...
Lecture 7: Factors Affect Current Account
... worsened. However, there are few episodes shown that the reversal of the current account associated with a reversal in the NIIP. Alternative Theories of Adjustment The current account reversals in Canada, Denmark, and Norway were accomplished without a real or a nominal depreciation, and in Singapor ...
... worsened. However, there are few episodes shown that the reversal of the current account associated with a reversal in the NIIP. Alternative Theories of Adjustment The current account reversals in Canada, Denmark, and Norway were accomplished without a real or a nominal depreciation, and in Singapor ...
Open-economy Macroeconomics
... External balance means that the trade is balanced. If e goes up, NX goes up. To maintain the external balance, A should also go up, to increase imports and reduce NX. ...
... External balance means that the trade is balanced. If e goes up, NX goes up. To maintain the external balance, A should also go up, to increase imports and reduce NX. ...
Exchange Rates - San Ramon Valley High School
... • 1) Use of reserves: central bank buys/sells currency in open-market Reserves acquired: a) diff circumstances in past (surplus/deficit), b) gold as “international money” ...
... • 1) Use of reserves: central bank buys/sells currency in open-market Reserves acquired: a) diff circumstances in past (surplus/deficit), b) gold as “international money” ...
PDF
... substitutes for imported food and manufactures could not be easily produced in the extremely difficult conditions of a country only newly emerged from a long and destructive civil war. The attraction of a path that could avoid such an immediate and sharp fiscal retrenchment is obvious. With domesti ...
... substitutes for imported food and manufactures could not be easily produced in the extremely difficult conditions of a country only newly emerged from a long and destructive civil war. The attraction of a path that could avoid such an immediate and sharp fiscal retrenchment is obvious. With domesti ...
Details
... • E.g. a Hong Kong company buy goods from Korean supplier may need to pay in Korean Won. • If the Hong Kong company does not have sufficient Korean Won, it has to buy KRW by converting HKD to KRW in order to settle the payment. ...
... • E.g. a Hong Kong company buy goods from Korean supplier may need to pay in Korean Won. • If the Hong Kong company does not have sufficient Korean Won, it has to buy KRW by converting HKD to KRW in order to settle the payment. ...
8 Economic policy_20..
... ─ Speculative demand: this is demand for money as financial asset for investment opportunities. ...
... ─ Speculative demand: this is demand for money as financial asset for investment opportunities. ...
International Coordination Jeffrey Frankel 2015 Asia Economic Policy Conference
... – If i were the only domestic monetary instrument, then its loss would leave only the exchange rate and would thus turn monetary policy into a zero-sum game. – But there are other domestic monetary channels: • long-term interest rates, corporate interest rates, equity prices, real estate prices and ...
... – If i were the only domestic monetary instrument, then its loss would leave only the exchange rate and would thus turn monetary policy into a zero-sum game. – But there are other domestic monetary channels: • long-term interest rates, corporate interest rates, equity prices, real estate prices and ...
Understanding Balance of Payments accounting
... (T - G) = total government saving, S + (T - G) = total national saving, which shows that in an open economy, borrowing from or lending to overseas is possible. The amount of borrowing from or lending to overseas is equal to the current account deficit (surplus). International investment position of ...
... (T - G) = total government saving, S + (T - G) = total national saving, which shows that in an open economy, borrowing from or lending to overseas is possible. The amount of borrowing from or lending to overseas is equal to the current account deficit (surplus). International investment position of ...
Bank of Thailand reg..
... In December 2006, the Bank of Thailand announced capital reserve rules concerning certain inbound capital payments. If the transaction was subject to the rule, then the payment was subject to a set aside of 30% of the total amount paid. The amount retained would be released to the payee after 12 mon ...
... In December 2006, the Bank of Thailand announced capital reserve rules concerning certain inbound capital payments. If the transaction was subject to the rule, then the payment was subject to a set aside of 30% of the total amount paid. The amount retained would be released to the payee after 12 mon ...
Macroeconomics: The Bird`s Eye View of the Global Economy
... countries if he receives back the same real return in terms of his currency at the end of the lending period. Hence, if the interest on a US bond is 4% while the interest on a European bond is 2%, then why would the relative yields imply that most investors believe that the Euro will appreciate 2% r ...
... countries if he receives back the same real return in terms of his currency at the end of the lending period. Hence, if the interest on a US bond is 4% while the interest on a European bond is 2%, then why would the relative yields imply that most investors believe that the Euro will appreciate 2% r ...
Foreign-exchange reserves
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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.