International Accounting Standard 29
... the currencies of hyperinflationary economies. The financial statements of any such subsidiary need to be restated by applying a general price index of the country in whose currency it reports before they are included in the consolidated financial statements issued by its parent. Where such a subsid ...
... the currencies of hyperinflationary economies. The financial statements of any such subsidiary need to be restated by applying a general price index of the country in whose currency it reports before they are included in the consolidated financial statements issued by its parent. Where such a subsid ...
Currency Investor Roundtable
... or downwards), then dampening those pressures means they build up so that the eventual move still happens, but with more force. But that’s why we want currency experts to manage the process for us. You ask if investors might be reluctant to have currency exposure to some regions. If they are unhappy ...
... or downwards), then dampening those pressures means they build up so that the eventual move still happens, but with more force. But that’s why we want currency experts to manage the process for us. You ask if investors might be reluctant to have currency exposure to some regions. If they are unhappy ...
NBER WORKING PAPER SERIES MONETARY STABILIZATION, INTERVENTION AND REAL APPRECIATION Rudiger Dornbusch
... in the real balance deflator. Second, we exclude depreciation from the definition of the real interest rate in aggregate demand. Third, we do not allow for a direct effect of depreciation on domestic inflation. Axt alternative model is explored in Appendix II and shows some of these ...
... in the real balance deflator. Second, we exclude depreciation from the definition of the real interest rate in aggregate demand. Third, we do not allow for a direct effect of depreciation on domestic inflation. Axt alternative model is explored in Appendix II and shows some of these ...
the macedonian economy and the european union
... averaging 3.2% of GDP between 1996 and 2014, slightly lower than the FDI (which include several major privatizations, like those of the telecommunication and electricity companies). Furthermore, there has been on an upward trend in remittances in recent years (Figure 16). Still, remittances are used ...
... averaging 3.2% of GDP between 1996 and 2014, slightly lower than the FDI (which include several major privatizations, like those of the telecommunication and electricity companies). Furthermore, there has been on an upward trend in remittances in recent years (Figure 16). Still, remittances are used ...
G97/4 Current account and exchange rate behaviour economy
... hypothesis, rational expectations are pervasive, prices are sticky and the capital market is completely open. The monetary authority is ascribed a forward looking reaction function with a feedback, a feature that, unfortunately, most models of current account behaviour with less than fully flexible ...
... hypothesis, rational expectations are pervasive, prices are sticky and the capital market is completely open. The monetary authority is ascribed a forward looking reaction function with a feedback, a feature that, unfortunately, most models of current account behaviour with less than fully flexible ...
Inside–outside money competition
... summary, inside money competition enhances efficiency by constraining the inflation rates that can be sustained in equilibria with valued currency. However, as the intermediation costs are reduced, outside money may be driven out of circulation. In this case, because the economy would be using a more ...
... summary, inside money competition enhances efficiency by constraining the inflation rates that can be sustained in equilibria with valued currency. However, as the intermediation costs are reduced, outside money may be driven out of circulation. In this case, because the economy would be using a more ...
Inside–outside money competition - Universidade Católica Portuguesa
... summary, inside money competition enhances efficiency by constraining the inflation rates that can be sustained in equilibria with valued currency. However, as the intermediation costs are reduced, outside money may be driven out of circulation. In this case, because the economy would be using a more ...
... summary, inside money competition enhances efficiency by constraining the inflation rates that can be sustained in equilibria with valued currency. However, as the intermediation costs are reduced, outside money may be driven out of circulation. In this case, because the economy would be using a more ...
MEXICO 2011 ARTICLE IV CONSULTATION
... Staff Report for the 2011 Article IV consultation, prepared by a staff team of the IMF, following discussions that ended on June 16, 2011, with the officials of Mexico on economic developments and policies. Based on information available at the time of these discussions, the staff report was complet ...
... Staff Report for the 2011 Article IV consultation, prepared by a staff team of the IMF, following discussions that ended on June 16, 2011, with the officials of Mexico on economic developments and policies. Based on information available at the time of these discussions, the staff report was complet ...
Mineral Resource Endowments and Investment Destinations: A
... Quite a few studies examine the characteristics of Indian states where foreign firms have located plants (Mani et al. 1997; Mukim and Nunnenkamp2012). Mani et al. (1997) examine the impact of state characteristics (including environmental regulations) on location of foreign branch plants in states i ...
... Quite a few studies examine the characteristics of Indian states where foreign firms have located plants (Mani et al. 1997; Mukim and Nunnenkamp2012). Mani et al. (1997) examine the impact of state characteristics (including environmental regulations) on location of foreign branch plants in states i ...
Perspectives on OECD Economic Integration: Implications for U.S. Current Account Adjustment
... During the 1980s, the U.S. government was busy running massive fiscal deficits, arguably producing a “twin” deficit in the current account. Today, the federal government is trying to decide how to allocate surpluses. During the 1980s, the U.S. was in the early years of recovery from the low growth i ...
... During the 1980s, the U.S. government was busy running massive fiscal deficits, arguably producing a “twin” deficit in the current account. Today, the federal government is trying to decide how to allocate surpluses. During the 1980s, the U.S. was in the early years of recovery from the low growth i ...
Exchange Rate Regimes of Developing Countries: Global Context
... anew the issue of appropriate exchange rate arrangements. In response to these developments, one popular view is that there should be a general move toward floating regimes. Another increasingly fashionable view is that countries should either let their exchange rates float freely, or peg them firml ...
... anew the issue of appropriate exchange rate arrangements. In response to these developments, one popular view is that there should be a general move toward floating regimes. Another increasingly fashionable view is that countries should either let their exchange rates float freely, or peg them firml ...
2015-III Statistics Department TURKIYE CUMHURIYET MER KEZ BANKASI
... Between 2010 and the third quarter of 2015, while households and the rest of the world generated a financial surplus, non-financial corporations and the central government had a financial deficit. Meanwhile, the financial corporations remained flat with a financial worth of almost zero due to the fi ...
... Between 2010 and the third quarter of 2015, while households and the rest of the world generated a financial surplus, non-financial corporations and the central government had a financial deficit. Meanwhile, the financial corporations remained flat with a financial worth of almost zero due to the fi ...
STAGES-2005
... Another robustness test is to use a different indicator of the institutional quality – the investment climate index (RISK), average for 1984-90. GROWTH = CONST. + CONTR. VAR.+ Gpol (0.086RISK – 0.06Ycap75us – 3.12), where N=65, R2 = 44, all coefficients significant at less than 10% level, contro ...
... Another robustness test is to use a different indicator of the institutional quality – the investment climate index (RISK), average for 1984-90. GROWTH = CONST. + CONTR. VAR.+ Gpol (0.086RISK – 0.06Ycap75us – 3.12), where N=65, R2 = 44, all coefficients significant at less than 10% level, contro ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Hence, in both respects they rendered a strategy of investment via foreign borrowing (as in the 1973-77 period) a risky one. To see this, it is sufficient to pose the following hypothetical question: How large would the increase in exports need to have been, assuming everything else was constant, in ...
... Hence, in both respects they rendered a strategy of investment via foreign borrowing (as in the 1973-77 period) a risky one. To see this, it is sufficient to pose the following hypothetical question: How large would the increase in exports need to have been, assuming everything else was constant, in ...
Interdependence between Foreign Exchange
... intuition for a link between the exchange rate and the stock market assumes that a devaluation or depreciation of the currency makes exports more profitable and as most major exporters are quoted on the stock market, one will see a rise in stock market prices. For the period between January 1974 and ...
... intuition for a link between the exchange rate and the stock market assumes that a devaluation or depreciation of the currency makes exports more profitable and as most major exporters are quoted on the stock market, one will see a rise in stock market prices. For the period between January 1974 and ...
inflation and exchange rate depreciation: a
... to a country’s economy because it undermines the ability of its currency to perform its traditional functions of unit of account, store of value and reliable medium of exchange. In this study the causal relationship between inflation and exchange rate depreciation, will be analyzed. The impact of bo ...
... to a country’s economy because it undermines the ability of its currency to perform its traditional functions of unit of account, store of value and reliable medium of exchange. In this study the causal relationship between inflation and exchange rate depreciation, will be analyzed. The impact of bo ...
Series 18 early page.cdr - Central Bank of Nigeria
... currency deposits, gold, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve positions held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other industrial and financial holdings. These are assets of the ...
... currency deposits, gold, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve positions held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other industrial and financial holdings. These are assets of the ...
Output and Exchange Rate in the Short Run
... makes people expect a domestic currency appreciation in the short run due to increased aggregate demand, thereby reducing the expected return on foreign currency deposits, making the domestic currency appreciate. ...
... makes people expect a domestic currency appreciation in the short run due to increased aggregate demand, thereby reducing the expected return on foreign currency deposits, making the domestic currency appreciate. ...
Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning
... (e.g. Reinhart and Reinhart, 2009 and Calvo and Loo-Kung, 2009). We condition on size throughout our analysis because it has been generally observed that smaller countries have fared poorly in the crisis. The importance of size was felt most strongly among smaller nations who had experienced excepti ...
... (e.g. Reinhart and Reinhart, 2009 and Calvo and Loo-Kung, 2009). We condition on size throughout our analysis because it has been generally observed that smaller countries have fared poorly in the crisis. The importance of size was felt most strongly among smaller nations who had experienced excepti ...
Document
... • A permanent fiscal expansion changes the long-run expected exchange rate. – If the economy starts at long-run equilibrium, a permanent change in fiscal policy has no effect on output. – It causes an immediate and permanent exchange rate jump that offsets exactly the fiscal policy’s direct effect o ...
... • A permanent fiscal expansion changes the long-run expected exchange rate. – If the economy starts at long-run equilibrium, a permanent change in fiscal policy has no effect on output. – It causes an immediate and permanent exchange rate jump that offsets exactly the fiscal policy’s direct effect o ...
The IMF`s Financial Crisis Loans: No change in conditionalities
... documentation of the IMF’s current loan conditionalities and policy advice demonstrate that the traditionally contractionary nature of the IMF’s fiscal and monetary policy framework has not changed. Additional resources to the IMF would give it the means by which to discipline crisishit countries th ...
... documentation of the IMF’s current loan conditionalities and policy advice demonstrate that the traditionally contractionary nature of the IMF’s fiscal and monetary policy framework has not changed. Additional resources to the IMF would give it the means by which to discipline crisishit countries th ...
The external and domestic side of macroeconomic adjustment in
... large distortions and efficiency losses. Aziz and Dunaway (2007) point out that liquidity injections from massive foreign exchange interventions have contributed to real costs of investment of only about 1-2 percent and have implied that the cost of capital has not only been low but also fallen relati ...
... large distortions and efficiency losses. Aziz and Dunaway (2007) point out that liquidity injections from massive foreign exchange interventions have contributed to real costs of investment of only about 1-2 percent and have implied that the cost of capital has not only been low but also fallen relati ...
Philip R. Lane IIIS, Trinity College Dublin and CEPR
... flows create associated financial trades, such as in the provision of trade credits and also in relation to payments services. In the other direction, bilateral financial integration generates new opportunities for trade in goods and services. Most obviously, a key driver of cross-border trade is f ...
... flows create associated financial trades, such as in the provision of trade credits and also in relation to payments services. In the other direction, bilateral financial integration generates new opportunities for trade in goods and services. Most obviously, a key driver of cross-border trade is f ...
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.