Prioritizing Economic Growth: Enhancing Macroeconomic Policy
... developing countries with enormous numbers of people in poverty left behind by insufficient and unsustained rates of economic growth. Selective Pragmatism Markets are extraordinarily powerful mechanisms. No set of people knows this better than those who are or have been ministers of finance or centr ...
... developing countries with enormous numbers of people in poverty left behind by insufficient and unsustained rates of economic growth. Selective Pragmatism Markets are extraordinarily powerful mechanisms. No set of people knows this better than those who are or have been ministers of finance or centr ...
Does Population Transition Influence Real Exchange Rate? Empirical Evidence from Australia:
... percent of total population) were in this age group. In 2010, this figure increases more than four times, 524 million or 6.9 percent of total population. By 2050 it will exceed 1510 million or 16 percent of total population. Ageing problem is more acute in developed countries than less developed one ...
... percent of total population) were in this age group. In 2010, this figure increases more than four times, 524 million or 6.9 percent of total population. By 2050 it will exceed 1510 million or 16 percent of total population. Ageing problem is more acute in developed countries than less developed one ...
Monetary Policy Functions and Transmission Mechanisms: An
... and decreasing the burden of nominal debt contracts (by raising inflation). All these considerations tend to make banks willing to supply more creditpari passu with the monetary expansionthus financing a rise in aggregate demand.7 Up to now we have considered four main transmission mechanisms, all ...
... and decreasing the burden of nominal debt contracts (by raising inflation). All these considerations tend to make banks willing to supply more creditpari passu with the monetary expansionthus financing a rise in aggregate demand.7 Up to now we have considered four main transmission mechanisms, all ...
Document
... regarding the achievement of economic and monetary union. The latest Commission and ECB regular Convergence Reports were adopted in December 20061. Denmark and the United Kingdom have not expressed their wish to adopt the single currency. Therefore, this convergence assessment covers the following t ...
... regarding the achievement of economic and monetary union. The latest Commission and ECB regular Convergence Reports were adopted in December 20061. Denmark and the United Kingdom have not expressed their wish to adopt the single currency. Therefore, this convergence assessment covers the following t ...
L - World bank documents
... annual growth of real GDP has averaged 6 percent in the post1983 period as compared to -3.4 percent in the period from 1978 to 1983. Given the multitude of factors at work in the Ghanaian economy, it is difficult to attribute the decline and renewal of the economy to any one factor. We will instead ...
... annual growth of real GDP has averaged 6 percent in the post1983 period as compared to -3.4 percent in the period from 1978 to 1983. Given the multitude of factors at work in the Ghanaian economy, it is difficult to attribute the decline and renewal of the economy to any one factor. We will instead ...
essential facts about inflation.p65
... inflation is having too much money competing to buy the available goods at their existing prices, allowing those prices to rise. Bank of Jamaica (BOJ), the country’s central bank, has the primary objective of ensuring price stability in the economy. In other words, the Bank is mandated to keep infla ...
... inflation is having too much money competing to buy the available goods at their existing prices, allowing those prices to rise. Bank of Jamaica (BOJ), the country’s central bank, has the primary objective of ensuring price stability in the economy. In other words, the Bank is mandated to keep infla ...
Working Paper, No. 121 - Wirtschaftswissenschaftliche Fakultät der
... further amplified of the degree of asymmetry in monetary policy making. The ultimate outcome has been the convergence of central bank interest rates towards zero and the advent of unconventional monetary policy. There are three possible reasons for a too expansionary monetary policy during crisis, ...
... further amplified of the degree of asymmetry in monetary policy making. The ultimate outcome has been the convergence of central bank interest rates towards zero and the advent of unconventional monetary policy. There are three possible reasons for a too expansionary monetary policy during crisis, ...
COM COM(2008)0248 EN
... regarding the achievement of economic and monetary union. The latest Commission and ECB regular Convergence Reports were adopted in December 20061. Denmark and the United Kingdom have not expressed their wish to adopt the single currency. Therefore, this convergence assessment covers the following t ...
... regarding the achievement of economic and monetary union. The latest Commission and ECB regular Convergence Reports were adopted in December 20061. Denmark and the United Kingdom have not expressed their wish to adopt the single currency. Therefore, this convergence assessment covers the following t ...
The Importance of Composition of Fiscal Policy: Evidence from
... traded products. Firms have monopolistic power in the market for the good they produce and thereby face downward-sloping demand schedules: hence, if cost pressures force a price increase, output and employment decline. For simplicity, we present the model in the case of a generic downward sloping de ...
... traded products. Firms have monopolistic power in the market for the good they produce and thereby face downward-sloping demand schedules: hence, if cost pressures force a price increase, output and employment decline. For simplicity, we present the model in the case of a generic downward sloping de ...
Regime Switches in Exchange Rate Volatility and Uncovered
... reflects the extent to which currency returns are related to interest rate differentials. Thus a positive β v means that a lower volatility leads to a lower β 0 + β v vt , i.e. a higher deviation from what is predicted by UIP. Table 2 shows that the point estimates of β v are positive in seven cases ...
... reflects the extent to which currency returns are related to interest rate differentials. Thus a positive β v means that a lower volatility leads to a lower β 0 + β v vt , i.e. a higher deviation from what is predicted by UIP. Table 2 shows that the point estimates of β v are positive in seven cases ...
Real Exchange Rate Volatility and the Price of Nontradable Goods
... explain up to 50 percent of the real exchange rate variability. All these findings are related to the works of Mussa and of Baxter and Stockman, which show that the variability of the real exchange rate is higher under flexible exchange rate regimes than under managed exchange rate regimes, although t ...
... explain up to 50 percent of the real exchange rate variability. All these findings are related to the works of Mussa and of Baxter and Stockman, which show that the variability of the real exchange rate is higher under flexible exchange rate regimes than under managed exchange rate regimes, although t ...
Macroprudential Policies in a Global Perspective Olivier Jeanne
... sector, where there was a shift in emphasis from the microprudential regulation to the macroprudential regulation of banks (see Hanson, Kashyap, and Stein 2011 and Galati and Moessner 2013). 3 In a nutshell, macroprudential regulation focuses on how the collective behavior of banks makes the financi ...
... sector, where there was a shift in emphasis from the microprudential regulation to the macroprudential regulation of banks (see Hanson, Kashyap, and Stein 2011 and Galati and Moessner 2013). 3 In a nutshell, macroprudential regulation focuses on how the collective behavior of banks makes the financi ...
Chinese Exporters, Exchange Rate Exposure, and the
... This section documents the distribution of exports and imports both by currency and by market. Two forms of …rm exchange rate exposure are analyzed. Direct exposure is the net position in a currency on a …rm’s books, i.e. the di¤erence between revenues in the currency and costs in the currency. Indi ...
... This section documents the distribution of exports and imports both by currency and by market. Two forms of …rm exchange rate exposure are analyzed. Direct exposure is the net position in a currency on a …rm’s books, i.e. the di¤erence between revenues in the currency and costs in the currency. Indi ...
External Liberalization in Asia, Post-Socialist Europe, and Brazil Lance Taylor
... inflation stabilization programs (Brazil and other countries in Latin America). When they removed restrictions on capital movements, most countries received a surge of inflows from abroad. They came in subject to the accounting restriction that an economy’s net foreign asset position (total holdings ...
... inflation stabilization programs (Brazil and other countries in Latin America). When they removed restrictions on capital movements, most countries received a surge of inflows from abroad. They came in subject to the accounting restriction that an economy’s net foreign asset position (total holdings ...
A Rehabilitation of Monetary Policy in the 1950`s
... role of interest rates was more explicit. For example, when Vice Chairman Sproul gave a detailed summary of what various terms such as “active ease” or “restraint” meant, the behavior of interest rates was central (Minutes, 11 January 1955, pp. 10 –12). Indeed, the FOMC often chose the target for fr ...
... role of interest rates was more explicit. For example, when Vice Chairman Sproul gave a detailed summary of what various terms such as “active ease” or “restraint” meant, the behavior of interest rates was central (Minutes, 11 January 1955, pp. 10 –12). Indeed, the FOMC often chose the target for fr ...
Key Financial Ratios Tool - National Disability Services
... organisation’s Balance Sheet and Profit and Loss Statement. The ratios are calculated from your financial records at the date they were generated. Significant changes in your organisation’s circumstances since that date will not be reflected in the key ratios and therefore need to be considered when ...
... organisation’s Balance Sheet and Profit and Loss Statement. The ratios are calculated from your financial records at the date they were generated. Significant changes in your organisation’s circumstances since that date will not be reflected in the key ratios and therefore need to be considered when ...
Can We Predict the Next Capital Account Crisis?
... subsamples with a minimal frequency of crises (around 1 percent). BCTs yield mixed results when used out-of-sample. A BCT based on information up to 2000 would have predicted correctly three of the five crises in 2001, including Argentina, Turkey, and Lebanon (i.e., it would have classified them as ...
... subsamples with a minimal frequency of crises (around 1 percent). BCTs yield mixed results when used out-of-sample. A BCT based on information up to 2000 would have predicted correctly three of the five crises in 2001, including Argentina, Turkey, and Lebanon (i.e., it would have classified them as ...
Surprising Similarities: Recent Monetary Regimes of Small Economies Andrew K. Rose
... ROSE | SURPRISING SIMILARITIES: RECENT MONETARY REGIMES OF SMALL ECONOMIES 177 ...
... ROSE | SURPRISING SIMILARITIES: RECENT MONETARY REGIMES OF SMALL ECONOMIES 177 ...
NBER WORKING PAPER SERIES RISK SHARING THROUGH CAPITAL GAINS Faruk Balli Sebnem Kalemli-Ozcan
... countries with more countercyclical capital gains tend to obtain better consumption risk sharing but they do not directly include capital gains into their risk sharing calculations. We treat capital gains symmetrically with other sources of risk sharing and while countercyclical capital gains of a ...
... countries with more countercyclical capital gains tend to obtain better consumption risk sharing but they do not directly include capital gains into their risk sharing calculations. We treat capital gains symmetrically with other sources of risk sharing and while countercyclical capital gains of a ...
МИНИСТЕРСТВО ОБРАЗОВАНИЯ РОССИЙСКОЙ ФЕДЕРАЦИИ
... (a) For two goods X and Y, the opportunity cost of X in terms of Y is the number of units of Y that must be given up to get an extra unit of X. In a Ricardian model, the opportunity cost of X in terms of Y in a country with unit labour requirements a x, ay is - ay/ax. In a Ricardian model opportunit ...
... (a) For two goods X and Y, the opportunity cost of X in terms of Y is the number of units of Y that must be given up to get an extra unit of X. In a Ricardian model, the opportunity cost of X in terms of Y in a country with unit labour requirements a x, ay is - ay/ax. In a Ricardian model opportunit ...
Consumption and real exchange rates with incomplete
... There are two key features that are important in accounting for our results. By assuming that international asset trade is limited to a risk-less bond we break the link between the real exchange rate and relative consumption that would arise under complete …nancial markets. While by introducing non- ...
... There are two key features that are important in accounting for our results. By assuming that international asset trade is limited to a risk-less bond we break the link between the real exchange rate and relative consumption that would arise under complete …nancial markets. While by introducing non- ...
DP2008/01 Some benefits of monetary policy transparency in New Zealand
... best described as “constrained discretion” (Bernanke 2003). Policy instruments ...
... best described as “constrained discretion” (Bernanke 2003). Policy instruments ...
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.