New Theories of Optimal Currency Areas and their application to
... currency. There are but two serious global reserve currencies today: the US dollar and the euro. Iceland is a classic example of what can happen to a country with a banking sector that is large relative to the rest of the economy and that has short-term foreign exchange funding needs that outstrip ...
... currency. There are but two serious global reserve currencies today: the US dollar and the euro. Iceland is a classic example of what can happen to a country with a banking sector that is large relative to the rest of the economy and that has short-term foreign exchange funding needs that outstrip ...
Suriname_en.pdf
... drop of 50% in revenue from the bauxite sector (revenue from the two major players BHP-Billiton and Suriname Aluminium Company (Suralco) are expected to fall by 68%). Buoyed up by royalties and taxes from gold and crude oil, revenue should represent approximately 30% of GDP in 2009,, while expenditu ...
... drop of 50% in revenue from the bauxite sector (revenue from the two major players BHP-Billiton and Suriname Aluminium Company (Suralco) are expected to fall by 68%). Buoyed up by royalties and taxes from gold and crude oil, revenue should represent approximately 30% of GDP in 2009,, while expenditu ...
Jamaica_en.pdf
... compared with a decline of 0.5% in 2012. This was due to an improved performance in a number of sectors. The goods-producing sectors, made up of agriculture, mining and quarrying, manufacture and construction, grew by 0.4%; however, this was the result of positive growth in mining and quarrying and ...
... compared with a decline of 0.5% in 2012. This was due to an improved performance in a number of sectors. The goods-producing sectors, made up of agriculture, mining and quarrying, manufacture and construction, grew by 0.4%; however, this was the result of positive growth in mining and quarrying and ...
FINANCIAL CRISES, RESERVE ACCUMULATION, AND CAPITAL FLOWS
... financial flows into and out of most third world economies. This process began early in some parts and later in others; and it has proceeded to different extents in different countries. Nonetheless it is a fact of life over much of the third world. Any such liberalization brings third world assets i ...
... financial flows into and out of most third world economies. This process began early in some parts and later in others; and it has proceeded to different extents in different countries. Nonetheless it is a fact of life over much of the third world. Any such liberalization brings third world assets i ...
Venezuela_en.pdf
... Of this amount, US$ 12.299 billion was from central bank reserves, US$ 619 million was from Petróleos de Venezuela SA (PDVSA) and US$ 27 million was from the petroleum windfall profits tax. As of May 2010 there were no official figures available on the country’s fiscal result for the first five mont ...
... Of this amount, US$ 12.299 billion was from central bank reserves, US$ 619 million was from Petróleos de Venezuela SA (PDVSA) and US$ 27 million was from the petroleum windfall profits tax. As of May 2010 there were no official figures available on the country’s fiscal result for the first five mont ...
Currency, Economics and Financial Markets
... – Currency traders buy a lot of other currencies requiring other countries to buy more US to maintain their currency value costing them a lot of money and adversely effecting their economies – Other countries say “forget this” since it is too expensive and just let the value of their currencies fluc ...
... – Currency traders buy a lot of other currencies requiring other countries to buy more US to maintain their currency value costing them a lot of money and adversely effecting their economies – Other countries say “forget this” since it is too expensive and just let the value of their currencies fluc ...
Slide 1
... Liberal economies have free capital mobility: there is no control in inflow and outflow of capital; exchange rate is determined endogenously weaker economies cannot commit to free capital mobility and have controls in the mobility of capital. They fix the exchange rate arbitrarily to ration the ...
... Liberal economies have free capital mobility: there is no control in inflow and outflow of capital; exchange rate is determined endogenously weaker economies cannot commit to free capital mobility and have controls in the mobility of capital. They fix the exchange rate arbitrarily to ration the ...
The Argentine Recovery: some features and challenges Dr. P. Ruben Mercado
... In contrast with the previous explanations, more heterodox views point out that fiscal problems became serious after the mid nineties, not so much as a cause but more as an effect of the progressive failure of the currency board system since government revenue fell because of the recession and gover ...
... In contrast with the previous explanations, more heterodox views point out that fiscal problems became serious after the mid nineties, not so much as a cause but more as an effect of the progressive failure of the currency board system since government revenue fell because of the recession and gover ...
inter_fin_2009_l1_post
... ratings, being only one grade above junk bond ratings. Source: Federal Reserve. ...
... ratings, being only one grade above junk bond ratings. Source: Federal Reserve. ...
Dr. SK Mitchell - people.vcu.edu
... How did policymakers try to “exploit” to Phillips curve? What was the result, beginning about 1970? How has the original idea of the Phillips curve been modified? Why is the long run Phillips curve believed to be vertical? What was surprising to economists (at the time) about the economy during the ...
... How did policymakers try to “exploit” to Phillips curve? What was the result, beginning about 1970? How has the original idea of the Phillips curve been modified? Why is the long run Phillips curve believed to be vertical? What was surprising to economists (at the time) about the economy during the ...
Costa_Rica_en.pdf
... domestic debt securities than in 2012, given the use of funds from bond placements on the international market. By virtue of Law No. 9070 (enacted in 2012), in 2013 the government had resources totalling US$ 2.0 billion at its disposal as a result of the international bond issues of November 2012 an ...
... domestic debt securities than in 2012, given the use of funds from bond placements on the international market. By virtue of Law No. 9070 (enacted in 2012), in 2013 the government had resources totalling US$ 2.0 billion at its disposal as a result of the international bond issues of November 2012 an ...
High-level Regional Policy Dialogue on
... government has to bail out led to an significant increase in public debt. Responsible for ...
... government has to bail out led to an significant increase in public debt. Responsible for ...
Towards a new international financial architecture Peter Sanfey
... previous crises (e.g. Asia) and other regions. 2. Financial systems were comparatively sound (high foreign bank presence, small non-bank financial sectors) 3. Forceful, coordinated and comprehensive crisis response ...
... previous crises (e.g. Asia) and other regions. 2. Financial systems were comparatively sound (high foreign bank presence, small non-bank financial sectors) 3. Forceful, coordinated and comprehensive crisis response ...
Company Name - University of Wisconsin–La Crosse
... are financial assets that can’t be directly used as a medium of exchange but can readily be converted into cash or checkable bank deposits. ...
... are financial assets that can’t be directly used as a medium of exchange but can readily be converted into cash or checkable bank deposits. ...
Midterm 3
... according to the wage paid. The employer wants to pay wage W1 because that wage maximizes the value of output per dollar spent on wages. Suppose the government passes new labor market regulation making it more difficult to fire a worker for being unproductive – the employer needs greater proof than ...
... according to the wage paid. The employer wants to pay wage W1 because that wage maximizes the value of output per dollar spent on wages. Suppose the government passes new labor market regulation making it more difficult to fire a worker for being unproductive – the employer needs greater proof than ...
What is a Useful Central Bank?
... inflation and the real economy… … but some challenges (e.g., identifying a leverage cycle). Monetary policy is rather blunt; regulations can be more specific towards the financial sector. ...
... inflation and the real economy… … but some challenges (e.g., identifying a leverage cycle). Monetary policy is rather blunt; regulations can be more specific towards the financial sector. ...
What post-Keynesian economics has brought to an understanding of
... amount of credit that can be granted by the banking system and the rest of the financial system. Credit is an immaterial service, which can be granted by punching a keynote and where the consequences of excessive credit do not immediately show up. This is in contrast to production in the real sector ...
... amount of credit that can be granted by the banking system and the rest of the financial system. Credit is an immaterial service, which can be granted by punching a keynote and where the consequences of excessive credit do not immediately show up. This is in contrast to production in the real sector ...
NBER WORKING PAPER SERIES THE GREAT DEPRESSION ANALOGY Michael D. Bordo Harold James
... Keynesians thought that ...
... Keynesians thought that ...
Brasil_en.pdf
... In the first few months of 2011, fiscal policy sought to restore the public-sector primary surplus to a level close to the target of 3.0% of GDP. Between January and April, the federal government accrued a primary surplus equivalent to half of its annual target of 82 billion reais. The subnational g ...
... In the first few months of 2011, fiscal policy sought to restore the public-sector primary surplus to a level close to the target of 3.0% of GDP. Between January and April, the federal government accrued a primary surplus equivalent to half of its annual target of 82 billion reais. The subnational g ...
MACRO Study Guide Before AP 2016
... interest rate ( federal funds rate). The Fed “targets” an interest rate and then adjusts money supply to reach it. Money supply shifts left or right as the Fed buys or sells bonds. Money Demand Graph is the desire to “hold” money. It is based on speculative demand, precautionary demand & price level ...
... interest rate ( federal funds rate). The Fed “targets” an interest rate and then adjusts money supply to reach it. Money supply shifts left or right as the Fed buys or sells bonds. Money Demand Graph is the desire to “hold” money. It is based on speculative demand, precautionary demand & price level ...
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.