![Economics: Explore and Apply 1/e by Ayers and Collinge Chapter](http://s1.studyres.com/store/data/008213342_1-5ce6f032a9433c70055e5bdfd051c60d-300x300.png)
Economics: Explore and Apply 1/e by Ayers and Collinge Chapter
... the Fed and it was viewed at that time to be a lender of last resort for troubled banks. Today, the Fed’s role has expanded greatly. The 1977 amendment to the act spells out the objective of monetary policy as.. “ to promote effectively the goals of maximum employment, stable prices, and moderate lo ...
... the Fed and it was viewed at that time to be a lender of last resort for troubled banks. Today, the Fed’s role has expanded greatly. The 1977 amendment to the act spells out the objective of monetary policy as.. “ to promote effectively the goals of maximum employment, stable prices, and moderate lo ...
NBER WORKING PAPER SERIES RECESSION Joshua Aizenman
... outflows during this quarter (another two countries saw net capital inflows that were lower than their net portfolio inflows).5 In 2009Q1, this pattern held for 32 out of 33 developing countries which saw net capital outflows during this quarter. High income countries, on the other hand, saw greate ...
... outflows during this quarter (another two countries saw net capital inflows that were lower than their net portfolio inflows).5 In 2009Q1, this pattern held for 32 out of 33 developing countries which saw net capital outflows during this quarter. High income countries, on the other hand, saw greate ...
** Macroeconomic Stability of Centralized and Decentralized Exchange: Anthropological Data ** This paper revisits an anthropological and historical data set I used years ago, and tests implications about macro-economic stability. It is a companion piece to the "Reciprocal Networks" piece mentioned in the previous section.
... of precious metals have often had a highly beneficial effect upon ancient economies, as the discovery of Silver in ancient Greece and Lydia (pp. 66-67), or the introduction of silver to the Middle East in the 12th century through the banking activities of the crusading Knights Templars and Hospitali ...
... of precious metals have often had a highly beneficial effect upon ancient economies, as the discovery of Silver in ancient Greece and Lydia (pp. 66-67), or the introduction of silver to the Middle East in the 12th century through the banking activities of the crusading Knights Templars and Hospitali ...
NBER WORKING PAPER SERIES AN ASSESSMENT OF THE NEW MERCHANTILISM
... economies, which causes them to increase assets holdings due to similar effects as those that result from financial globalization. Thus, the surge in reserves in this scenario is not the direct result of self-insurance against higher business cycle volatility inside Sudden Stop countries, but the i ...
... economies, which causes them to increase assets holdings due to similar effects as those that result from financial globalization. Thus, the surge in reserves in this scenario is not the direct result of self-insurance against higher business cycle volatility inside Sudden Stop countries, but the i ...
PDF
... continuous U.S. dollar appreciation raises concerns over the competitiveness of U.S. international trade. Relative appreciation of U.S. dollar to the currencies of U.S. trade competitors is considered problematic, making U.S. producers less competitive in world market. The exchange rate economics ha ...
... continuous U.S. dollar appreciation raises concerns over the competitiveness of U.S. international trade. Relative appreciation of U.S. dollar to the currencies of U.S. trade competitors is considered problematic, making U.S. producers less competitive in world market. The exchange rate economics ha ...
Empirical Research on RMB Equilibrium Exchange Rate
... Assessment of a currency exchange rate and the degree of its misalignment is always one of the most challenging topics in the field of macroeconomics. Many scholars have developed the equilibrium real exchange rate theories. Many domestic scholars used different approaches to analyze the RMB equilib ...
... Assessment of a currency exchange rate and the degree of its misalignment is always one of the most challenging topics in the field of macroeconomics. Many scholars have developed the equilibrium real exchange rate theories. Many domestic scholars used different approaches to analyze the RMB equilib ...
English title
... expectations (”constrained discretion“); • IT has gained bigger ”market share“ among MP regimes; • Strict vs. flexible inflation targeting (no one does the strict one); • In open economies, the exchange rate is an important part of the transmission mechanisms, as well as a source of shocks; • The pe ...
... expectations (”constrained discretion“); • IT has gained bigger ”market share“ among MP regimes; • Strict vs. flexible inflation targeting (no one does the strict one); • In open economies, the exchange rate is an important part of the transmission mechanisms, as well as a source of shocks; • The pe ...
Seminar Paper No. 687 THE ZERO BOUND IN AN OPEN ECONOMY:
... McCallum [38] has recommended foreign-exchange interventions to depreciate the currency and, in this way, stimulate the economy when the interest rate is zero. His argument either ignores uncovered interest parity or relies on a portfolio-balance e¤ect, whereby the relative supply of domestic- and f ...
... McCallum [38] has recommended foreign-exchange interventions to depreciate the currency and, in this way, stimulate the economy when the interest rate is zero. His argument either ignores uncovered interest parity or relies on a portfolio-balance e¤ect, whereby the relative supply of domestic- and f ...
IE-UFRJ Discussion Paper - Instituto de Economia
... and thus it has to be studied according to the particular institutional and historical setting of each country. In other words, it has to be studied according to its structural components. In search for structural factors, several authors examined the causes of inflation as supply elements, or fact ...
... and thus it has to be studied according to the particular institutional and historical setting of each country. In other words, it has to be studied according to its structural components. In search for structural factors, several authors examined the causes of inflation as supply elements, or fact ...
Prices and Exchange Rates: A Theory of Disconnect
... consumer import prices (Engel, 2002).1 This empirical regularity is usually interpreted as implying that the effect of nominal exchange rates on quantities traded between countries, the so-called expenditure-switching effect of exchange rates, is negligible: if exchange rate movements do not affect ...
... consumer import prices (Engel, 2002).1 This empirical regularity is usually interpreted as implying that the effect of nominal exchange rates on quantities traded between countries, the so-called expenditure-switching effect of exchange rates, is negligible: if exchange rate movements do not affect ...
Capital Flows to Emerging Markets
... values, but changes in underlying and/or future fundamentals still drive investor decisions. The only potential source of fundamentals-unrelated decision is investors “risk appetite”, which has however received little attention, but is found to have a very important impact on capital flows (e.g. Bra ...
... values, but changes in underlying and/or future fundamentals still drive investor decisions. The only potential source of fundamentals-unrelated decision is investors “risk appetite”, which has however received little attention, but is found to have a very important impact on capital flows (e.g. Bra ...
DP2003/8 The stabilisation problem: The case of New Zealand
... returning the macroeconomic variables to equilibrium quickly, and do not distinguish between negative and positive values. Compared with the closed economy case, the existence of an open economy channel helps the central bank achieve its goal in the face of a cost push shock. This is because an incr ...
... returning the macroeconomic variables to equilibrium quickly, and do not distinguish between negative and positive values. Compared with the closed economy case, the existence of an open economy channel helps the central bank achieve its goal in the face of a cost push shock. This is because an incr ...
(PDF)
... assessing the effects of changes in currency value on both the balance of payments and domestic inflation. Of particular interest is whether the devaluation of a nation’s currency would improve its external balance. From an imports perspective, this amounts to asking what portion of the devaluation ...
... assessing the effects of changes in currency value on both the balance of payments and domestic inflation. Of particular interest is whether the devaluation of a nation’s currency would improve its external balance. From an imports perspective, this amounts to asking what portion of the devaluation ...
NBER WORKING PAPER SERIES RESULTS FROM A STRUCTURAL MODEL
... Some early discussions of the United Kingdom’s position in the European Union took monetary union as an eventual implication of movement to a single trading market. For example, Lionel Robbins stated in 1971, “I do not think that in the end a common market, just like that, can function well if there ...
... Some early discussions of the United Kingdom’s position in the European Union took monetary union as an eventual implication of movement to a single trading market. For example, Lionel Robbins stated in 1971, “I do not think that in the end a common market, just like that, can function well if there ...
Does the Purchasing Power Parity Hold in Emerging
... exchange rate for individual countries is due to the effects of potential structural breaks in the time series? To investigate this issue we apply the methodologies of Banerjee et al (1992) and Zivot and Andrew (1992) which allow us to estimate the break-date ...
... exchange rate for individual countries is due to the effects of potential structural breaks in the time series? To investigate this issue we apply the methodologies of Banerjee et al (1992) and Zivot and Andrew (1992) which allow us to estimate the break-date ...
Economic Developments in Portuguese
... in Angola, together with some pessimism, continued to put downward pressure on the kwanza in 2015, with the currency losing approximately one-fourth of its value against the US dollar and over 14 per cent against the euro. The depreciation trend continued in early 2016, with the cumulative loss betw ...
... in Angola, together with some pessimism, continued to put downward pressure on the kwanza in 2015, with the currency losing approximately one-fourth of its value against the US dollar and over 14 per cent against the euro. The depreciation trend continued in early 2016, with the cumulative loss betw ...
A Development-focused Allocation of the Special Drawing Rights
... states on the basis of a quota that is related to their relative strength in the world economy. Members that receive these notes may either hold them or exchange a part of ...
... states on the basis of a quota that is related to their relative strength in the world economy. Members that receive these notes may either hold them or exchange a part of ...
Evaluating Alternative Measures of the Real Effective Exchange Rate
... for price differentials between a country and its trading partners, have moved over a period of time. These measures are used as indicators of a country’s overall international competitiveness— a decrease in the REER would normally lead, ceteris paribus, to an improvement in the country’s real trade ...
... for price differentials between a country and its trading partners, have moved over a period of time. These measures are used as indicators of a country’s overall international competitiveness— a decrease in the REER would normally lead, ceteris paribus, to an improvement in the country’s real trade ...
del11 Carlin 16783019 en
... current account balance (Table 1, Col. 2 and 7 ). Ireland's current account balance deteriorated more or less continuously from a small surplus in 1999 to a deficit of 5.3% of GDP in 2007. This reflects over-heating of the domestic economy. Table 1 also reports an indicator of export market performa ...
... current account balance (Table 1, Col. 2 and 7 ). Ireland's current account balance deteriorated more or less continuously from a small surplus in 1999 to a deficit of 5.3% of GDP in 2007. This reflects over-heating of the domestic economy. Table 1 also reports an indicator of export market performa ...
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.