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Fiscal policy - WorkBank247.com
... Conclusion: In open economies with international capital mobility, contractionary fiscal policy is not as particularly effective in changing the equilibrium levels of output & prices Fiscal policy can still, however, affect interest rates, exchange rates, capital flows and current account balances a ...
... Conclusion: In open economies with international capital mobility, contractionary fiscal policy is not as particularly effective in changing the equilibrium levels of output & prices Fiscal policy can still, however, affect interest rates, exchange rates, capital flows and current account balances a ...
CAPITAL FLOWS AND THEIR IMPLICATION FOR CENTRAL BANK
... exchange rate level. Nevertheless, the impact could still be significant, given that these interventions are relatively large. Also the report concludes that the interventions may have reduced the magnitude of the appreciation/depreciation (in other words, the volatility), but have not fundamentally ...
... exchange rate level. Nevertheless, the impact could still be significant, given that these interventions are relatively large. Also the report concludes that the interventions may have reduced the magnitude of the appreciation/depreciation (in other words, the volatility), but have not fundamentally ...
CHAIRMAN WEIDENBAUM: Thank you.
... looks at this question is that in fact a number of other things, in particular, technology changes are at the heart of part of the trade changes as well as some of the other things that you’re talking about. Now, I think that there is a very difficult issue in terms of making those points generally, ...
... looks at this question is that in fact a number of other things, in particular, technology changes are at the heart of part of the trade changes as well as some of the other things that you’re talking about. Now, I think that there is a very difficult issue in terms of making those points generally, ...
WARWICK ECONOMIC RESEARCH PAPERS Trade Costs and the Open Macroeconomy No 778
... Intuitively, by raising the price of imported goods trade costs render domestic goods more attractive to consumers. As a consequence, spending is predominantly kept within the domestic country and consumption is tilted towards domestic goods, creating an endogenous home bias in consumption. This con ...
... Intuitively, by raising the price of imported goods trade costs render domestic goods more attractive to consumers. As a consequence, spending is predominantly kept within the domestic country and consumption is tilted towards domestic goods, creating an endogenous home bias in consumption. This con ...
DIFFERENCES IN EXCHANGE RATE PASS
... pass-through among different product categories for any given country. Accounting for these divergences is important for any meaningful analysis of differences in passthrough rates across and within countries as divergences arising from the product composition of imports exposed to exchange rate flu ...
... pass-through among different product categories for any given country. Accounting for these divergences is important for any meaningful analysis of differences in passthrough rates across and within countries as divergences arising from the product composition of imports exposed to exchange rate flu ...
CHAPTER 12—EXCHANGE-RATE DETERMINATION MULTIPLE
... 40. The Canadian dollar would depreciate on the foreign exchange market if: a. Canadian consumer tastes change in favor of goods produced domestically b. The profitability of assets in Canada rises relative to the profitability of assets abroad c. Canada experiences a disastrous wheat-crop failure, ...
... 40. The Canadian dollar would depreciate on the foreign exchange market if: a. Canadian consumer tastes change in favor of goods produced domestically b. The profitability of assets in Canada rises relative to the profitability of assets abroad c. Canada experiences a disastrous wheat-crop failure, ...
Technical Trading-Rule Profitability, Data Snooping, and Reality
... exchange rates and to testing the efficiency of the foreign exchange (FX) market. One strand of such literature examines the profitability of technical trading rules. The central idea underlying this research is that if the FX market is efficient, one should not be able to use publicly available inf ...
... exchange rates and to testing the efficiency of the foreign exchange (FX) market. One strand of such literature examines the profitability of technical trading rules. The central idea underlying this research is that if the FX market is efficient, one should not be able to use publicly available inf ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... rates, should lead to a closing of global imbalances. Our analytical framework shows that would only be the case if the relative productivity jump were in nontradable goods production, rather than tradable goods production where generalized productivity gains often first show up. Therefore, contrary ...
... rates, should lead to a closing of global imbalances. Our analytical framework shows that would only be the case if the relative productivity jump were in nontradable goods production, rather than tradable goods production where generalized productivity gains often first show up. Therefore, contrary ...
Fertility and the Real Exchange Rate
... later, an increase of 9.6%. Over the same time period, the fraction of the populace aged 65 or more increased from 5.6% to 6.9%. Even more dramatically, the fertility rate (average births per woman) fell from 3.92 to 2.65, a dramatic change of some 48%. These long-run trends are likely to continue; ...
... later, an increase of 9.6%. Over the same time period, the fraction of the populace aged 65 or more increased from 5.6% to 6.9%. Even more dramatically, the fertility rate (average births per woman) fell from 3.92 to 2.65, a dramatic change of some 48%. These long-run trends are likely to continue; ...
What can monetary policy do?
... inflation very close to some target level at all times. The inflation target that the Bank of England is trying to hit is 2%, based on the consumer price index (CPI). In the UK now inflation has dropped to 0.5% and it is likely to go lower; in September 2011 it reached 5.2% (Figure 1). In both cases ...
... inflation very close to some target level at all times. The inflation target that the Bank of England is trying to hit is 2%, based on the consumer price index (CPI). In the UK now inflation has dropped to 0.5% and it is likely to go lower; in September 2011 it reached 5.2% (Figure 1). In both cases ...
The Efficacy of Foreign Exchange Market Intervention in Malawi
... 1990s and early 2000s brought unique challenges emanating from the opening up of the economy and from globalization. A common feature of developing countries like Malawi is that their international trade is in terms of major world currencies rather than their own. Thus the operation of the global fi ...
... 1990s and early 2000s brought unique challenges emanating from the opening up of the economy and from globalization. A common feature of developing countries like Malawi is that their international trade is in terms of major world currencies rather than their own. Thus the operation of the global fi ...
Chapter 7
... The Choice Between Domestic and Foreign Assets (Continued) An Example: Choose between U.S. and German 1 yr. bonds • German Bonds • Et = nominal exchange between the $ and DM ...
... The Choice Between Domestic and Foreign Assets (Continued) An Example: Choose between U.S. and German 1 yr. bonds • German Bonds • Et = nominal exchange between the $ and DM ...
Macroeconomic Shocks, Housing Market and Banks` Performance
... stability, the median value of each variable and some aggregated banking indicators such as interest rates and the growth rate of assets. There are also nine sectorial macroeconomic variables that characterize the money creation process related to fiscal and foreign currency actions, the external se ...
... stability, the median value of each variable and some aggregated banking indicators such as interest rates and the growth rate of assets. There are also nine sectorial macroeconomic variables that characterize the money creation process related to fiscal and foreign currency actions, the external se ...
Long-Horizon Forecasts of Asset Prices when the Discount Factor is
... A long-standing puzzle in international finance is the disconnect between nominal exchange rates and macroeconomic fundamentals. Engel and West (2005) argue that this disconnect is consistent with exchange rates being determined by economic fundamentals. In connection with the Engel-West explanation ...
... A long-standing puzzle in international finance is the disconnect between nominal exchange rates and macroeconomic fundamentals. Engel and West (2005) argue that this disconnect is consistent with exchange rates being determined by economic fundamentals. In connection with the Engel-West explanation ...
as a PDF
... account the inherent uncertainty in assigning value judgment about macroeconomic policies (which will be explained more clearly below). In the empirical part of this paper, we undertake a systematic examination of the relationship between international capital flows and domestic macroeconomic polici ...
... account the inherent uncertainty in assigning value judgment about macroeconomic policies (which will be explained more clearly below). In the empirical part of this paper, we undertake a systematic examination of the relationship between international capital flows and domestic macroeconomic polici ...
DEPARTAMENTO DE ECONOMIA PUC
... Progress in relation to literacy rates was more evenly distributed over time as it increased in the same period from 43% of the population over 10 years of age to 74.5%. International comparisons show that Brazilian indicators have been consistently well below the levels which would be predicted by ...
... Progress in relation to literacy rates was more evenly distributed over time as it increased in the same period from 43% of the population over 10 years of age to 74.5%. International comparisons show that Brazilian indicators have been consistently well below the levels which would be predicted by ...
Money, Interest Rates, and Exchange Rates
... “expected euro return” schedule inward. Given the lower euro interest rate and the current exchange rate (E1), the expected return on dollar deposits is greater than that on euro deposits. The euro depreciates (to E2) as holders of euro deposits bid for dollar deposits. The foreign exchange market r ...
... “expected euro return” schedule inward. Given the lower euro interest rate and the current exchange rate (E1), the expected return on dollar deposits is greater than that on euro deposits. The euro depreciates (to E2) as holders of euro deposits bid for dollar deposits. The foreign exchange market r ...
editing method for the bulletin of the transilvania university
... standard under the Bretton Woods system (1946-1971), in which most countries maintained the exchange rate by tying it to the American dollar. The dollar took over the role that gold had played under the gold standard in the international financial system. However, a negative balance of payments in U ...
... standard under the Bretton Woods system (1946-1971), in which most countries maintained the exchange rate by tying it to the American dollar. The dollar took over the role that gold had played under the gold standard in the international financial system. However, a negative balance of payments in U ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... by considerable capital imports which transformed a basically agrarian country into an industrialized society. Second, this rapid economic development was accompanied and supported by a swift expansion of the Swedish monetary system. Commercial banking spread, measured by the number of banks, number ...
... by considerable capital imports which transformed a basically agrarian country into an industrialized society. Second, this rapid economic development was accompanied and supported by a swift expansion of the Swedish monetary system. Commercial banking spread, measured by the number of banks, number ...
IOSR Journal of Business and Management (IOSR-JBM)
... Oil prices affect the exchange rate in oil exporting countries but still their currencies do not show that much instability as compared to small economies that are mostly oil importing,because they have effective legal and organized system that manage and control the exchange rate. Due to the effect ...
... Oil prices affect the exchange rate in oil exporting countries but still their currencies do not show that much instability as compared to small economies that are mostly oil importing,because they have effective legal and organized system that manage and control the exchange rate. Due to the effect ...
Navigation - Zentrum für Europäische Integrationsforschung
... If we concentrate on facts and figures known to us today, it can be expected that economic activity in Europe will be affected marginally, but that neither the candidates for EMU seem to be particularly vulnerable - nor the United States for that matter. Japan, on the other hand, with its economic ...
... If we concentrate on facts and figures known to us today, it can be expected that economic activity in Europe will be affected marginally, but that neither the candidates for EMU seem to be particularly vulnerable - nor the United States for that matter. Japan, on the other hand, with its economic ...
Short-Term Capital, Economic Transformation, and
... So far, the empirical literature has been concerned mainly with the volatility features of short- versus longer-term capital flows. Claessens, Dooley, and Warner (1993) have been among the first to draw attention to the fact that standard balance of payments labels provide relatively little informat ...
... So far, the empirical literature has been concerned mainly with the volatility features of short- versus longer-term capital flows. Claessens, Dooley, and Warner (1993) have been among the first to draw attention to the fact that standard balance of payments labels provide relatively little informat ...
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.