H o w N e w ... m a c r o e c o n o...
... This is a continuation of a series of articles on what the costs and benefits might be if New Zealand wer e to join a larger currency area, say if it were to enter into currency union with Australia, or to ‘dollarise’. The back-drop is public debate, in New Zealand and in some other countries, on cu ...
... This is a continuation of a series of articles on what the costs and benefits might be if New Zealand wer e to join a larger currency area, say if it were to enter into currency union with Australia, or to ‘dollarise’. The back-drop is public debate, in New Zealand and in some other countries, on cu ...
Arab Republic of Egypt Request For Extended Arrangement Under
... monetary policy to anchor inflation expectations, contain domestic and external demand pressures, and allow accumulation of foreign exchange reserves. “Reducing fiscal deficits considerably and thereby placing public debt on a clearly declining path is an important objective of the authorities’ prog ...
... monetary policy to anchor inflation expectations, contain domestic and external demand pressures, and allow accumulation of foreign exchange reserves. “Reducing fiscal deficits considerably and thereby placing public debt on a clearly declining path is an important objective of the authorities’ prog ...
Year 8 Mathematics
... The Australian Curriculum is based on the assumptions that each student can learn and that the needs of every student are important. These needs are shaped by individual learning histories and abilities as well as personal, cultural and language backgrounds, and socio-economic factors. Teachers may ...
... The Australian Curriculum is based on the assumptions that each student can learn and that the needs of every student are important. These needs are shaped by individual learning histories and abilities as well as personal, cultural and language backgrounds, and socio-economic factors. Teachers may ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... through actions. The BOJ tightened monetary policy before the second oilprice shock to contain inflation, and then when the oil-price shock occurred, raised interest rates aggressively. With stronger credibility as an inflation fighter, the response of expected inflation to the rise in energy prices ...
... through actions. The BOJ tightened monetary policy before the second oilprice shock to contain inflation, and then when the oil-price shock occurred, raised interest rates aggressively. With stronger credibility as an inflation fighter, the response of expected inflation to the rise in energy prices ...
NBER WORKING PAPER SERIES AUSTRALIAN GOVERNMENT BALANCE SHEET MANAGEMENT Wilson Au-Yeung Jason McDonald
... affected by contingent risks affecting the tax base. This paper argues that a government financial portfolio – including financial assets, superannuation liabilities and government securities – can be structured to reduce the financial impact of these risks. Despite reportedly sound monetary and fis ...
... affected by contingent risks affecting the tax base. This paper argues that a government financial portfolio – including financial assets, superannuation liabilities and government securities – can be structured to reduce the financial impact of these risks. Despite reportedly sound monetary and fis ...
Impact of Real Depreciation of Taka on Export Earning of Bangladesh:
... export. Telak & Yeok’s(1998) findings may have more relevance for the small economies whose exports are highly dependent on imported raw materials and intermediate inputs. Analyzing the case of Singapore they showed that in the presence of high import content, exports are not adversely affected by a ...
... export. Telak & Yeok’s(1998) findings may have more relevance for the small economies whose exports are highly dependent on imported raw materials and intermediate inputs. Analyzing the case of Singapore they showed that in the presence of high import content, exports are not adversely affected by a ...
balance of payment
... merchandise exports (which has a 1.7 per cent share of world trade in goods), the potential exists to substantially enhance this. While some of the larger sectors, such as travel and tourism, IT and telecom and, to an extent, healthcare, have managed to grow, the potential in fields like media and e ...
... merchandise exports (which has a 1.7 per cent share of world trade in goods), the potential exists to substantially enhance this. While some of the larger sectors, such as travel and tourism, IT and telecom and, to an extent, healthcare, have managed to grow, the potential in fields like media and e ...
Please click here to see Table 3 - Association for the Study of the
... That socialist enterprises accumulate larger inventories than their free-market counterparts has been documented by several other authors. Fogel and Rosenthal (1994) mention that large strategic reserves of food, spare parts and machinery and equipment are kept in Cuba under the control of several g ...
... That socialist enterprises accumulate larger inventories than their free-market counterparts has been documented by several other authors. Fogel and Rosenthal (1994) mention that large strategic reserves of food, spare parts and machinery and equipment are kept in Cuba under the control of several g ...
Bayat(207).pdf
... is important issue so these factors are classified in some groups. There are some indicators such as the GDP per capita growth and saving rates and the ratio of bank reserves to bank assets send positive signals that the increasing of their value sends positive signals. However, the rising of some f ...
... is important issue so these factors are classified in some groups. There are some indicators such as the GDP per capita growth and saving rates and the ratio of bank reserves to bank assets send positive signals that the increasing of their value sends positive signals. However, the rising of some f ...
Chap010
... Unexpected rise in the dollar - 1980-85 Rapid fall of the dollar - 1985-87 and 1993-95 Partial collapse of European Monetary System 1992 Asian currency crisis - 1997 ...
... Unexpected rise in the dollar - 1980-85 Rapid fall of the dollar - 1985-87 and 1993-95 Partial collapse of European Monetary System 1992 Asian currency crisis - 1997 ...
VI. Suggestions on China`s Renminbi Exchange Rate Policy
... Renminbi (RMB) exchange rate at 8.7 per US dollar (USD) with a narrow band of 0.25% of the previous day’s reference rate. Under the new regime, the RMB/USD exchange rate began to appreciate to 8.3 in May 1995 and 8.28 in October 1997. During the Asian financial crisis, the trading band was narrowed ...
... Renminbi (RMB) exchange rate at 8.7 per US dollar (USD) with a narrow band of 0.25% of the previous day’s reference rate. Under the new regime, the RMB/USD exchange rate began to appreciate to 8.3 in May 1995 and 8.28 in October 1997. During the Asian financial crisis, the trading band was narrowed ...
application of the mundell-fleming model on a small open economy
... demand curve will cause an increase in the GDP with an adjustment to the price level. That is the money can influence real variables, but there will be some increase in prices as well. The Hick’s assumption of liquidity trap is strongly rejected. Furthemore all liquidity constraints are eliminated, ...
... demand curve will cause an increase in the GDP with an adjustment to the price level. That is the money can influence real variables, but there will be some increase in prices as well. The Hick’s assumption of liquidity trap is strongly rejected. Furthemore all liquidity constraints are eliminated, ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: NBER Macroeconomics Annual 201
... Benigno argued that financial frictions would be needed to break UIP in a first- order approximation, or that a level shock may affect UIP in a third-order approximation. Benigno also noted that US inflation falls on impact with a contractionary monetary policy shock but rises in subsequent periods, ...
... Benigno argued that financial frictions would be needed to break UIP in a first- order approximation, or that a level shock may affect UIP in a third-order approximation. Benigno also noted that US inflation falls on impact with a contractionary monetary policy shock but rises in subsequent periods, ...
New evidence on the puzzles: Results from agnostic identification
... j − 1N 0, the exchange rate must depreciate, sj N sj − 1, if ξj ≡ 0. According to Dornbusch's (1976) overshooting model, this is what the exchange rate should do, following a surprise domestic monetary tightening and an initial appreciation to assure long-run purchasing power parity. However, the em ...
... j − 1N 0, the exchange rate must depreciate, sj N sj − 1, if ξj ≡ 0. According to Dornbusch's (1976) overshooting model, this is what the exchange rate should do, following a surprise domestic monetary tightening and an initial appreciation to assure long-run purchasing power parity. However, the em ...
Power Relations and American Macroeconomic Policy, from .
... delegation had little to do with Keynes original Idea , except for the fact that controls on short term capital flows were accepted. The officially approved proposal at Bretton Woods was that of a system in which the key currencies would theoretically be gold, the U.S. dollar and Sterling (although ...
... delegation had little to do with Keynes original Idea , except for the fact that controls on short term capital flows were accepted. The officially approved proposal at Bretton Woods was that of a system in which the key currencies would theoretically be gold, the U.S. dollar and Sterling (although ...
NBER WORKING PAPER SERIES INTERNATIONAL MONETARY POLICY IJ PROMOTE ECONOMIC RECOVERY
... throughout follow a constant financial crowding out pressure" policy which consists in keeping constant the real stock of government debt B/P. The foreign authorities similarly keep B*/P* constant. Thus B = B(P/P) and B* = B*(P*/P*) . Whether or not B/P and B*/P* are arguments in the money demand fu ...
... throughout follow a constant financial crowding out pressure" policy which consists in keeping constant the real stock of government debt B/P. The foreign authorities similarly keep B*/P* constant. Thus B = B(P/P) and B* = B*(P*/P*) . Whether or not B/P and B*/P* are arguments in the money demand fu ...
Nicholas
... setting is staggered over time. The countries are linked by aggregate spending effects, relative price effects, and mark—up pricing arrangements. The model is solved and analyzed through deterministic and stochastic simulation ...
... setting is staggered over time. The countries are linked by aggregate spending effects, relative price effects, and mark—up pricing arrangements. The model is solved and analyzed through deterministic and stochastic simulation ...
Luis Servén
... 1. Self-protection: lower exposure to risk (e.g., by limiting specialization, “precautionary recessions”) 2. Self-insurance: transfer resources across time (e.g., commodity stabilization funds, foreign reserve accumulation) 3. Insurance / hedging: transfer resources across states of the world ...
... 1. Self-protection: lower exposure to risk (e.g., by limiting specialization, “precautionary recessions”) 2. Self-insurance: transfer resources across time (e.g., commodity stabilization funds, foreign reserve accumulation) 3. Insurance / hedging: transfer resources across states of the world ...
Download attachment
... capital stock or equity shares, (2) the fundamental question is what is the nature of the macroeconomic equilibrium in such a system. There is a tradition in economic theory which analyzes macroeconomic behavior in models where, unlike most macroeconomic analysis, there are no debt instruments and t ...
... capital stock or equity shares, (2) the fundamental question is what is the nature of the macroeconomic equilibrium in such a system. There is a tradition in economic theory which analyzes macroeconomic behavior in models where, unlike most macroeconomic analysis, there are no debt instruments and t ...
The Collapse of the Bretton Woods Fixed Exchange Rate System
... billion was purchased directly by France, almost exactly the amount by which the French gold stock increased. In the same period, German gold holdings increased by $600 million, exactly balancing the decline in the U.K. gold stock, but there were no other major acquisitions of gold by other countrie ...
... billion was purchased directly by France, almost exactly the amount by which the French gold stock increased. In the same period, German gold holdings increased by $600 million, exactly balancing the decline in the U.K. gold stock, but there were no other major acquisitions of gold by other countrie ...
NBER WORKING PAPER SERIES INFLATION, EXCHANGE RATES AND STABILIZATION Working Paper No. 1739
... exchange rate in two contexts. In a system of wage indexation and PPP—based exchange depreciation we discuss the problem of budget and trade correction. Stopping hyperinflation via exchange rate fixing is another application of the same set of ideas and the German and Argentinian cases are given as ...
... exchange rate in two contexts. In a system of wage indexation and PPP—based exchange depreciation we discuss the problem of budget and trade correction. Stopping hyperinflation via exchange rate fixing is another application of the same set of ideas and the German and Argentinian cases are given as ...
The Credit Channel in Middle Income Countries
... economy with credit market imperfections that is subject to demand shocks. The stable equilibrium of such an economy has two attractive features. First, the paths of the key variables are independent of the nominal exchange rate regime, which is important because of a wide variation across MICs in ...
... economy with credit market imperfections that is subject to demand shocks. The stable equilibrium of such an economy has two attractive features. First, the paths of the key variables are independent of the nominal exchange rate regime, which is important because of a wide variation across MICs in ...
THE ARGENTINEAN DEBT: HISTORY, DEFAULT AND RESTRUCTURING Mario Damill
... international credit. Meanwhile, a deep liberalizing financial reform was implemented in 1977 and was followed by the progressive dismantling of foreign exchange controls to capital account private flows in 1978-80. These changes would jointly operate to completely change the country links with the ...
... international credit. Meanwhile, a deep liberalizing financial reform was implemented in 1977 and was followed by the progressive dismantling of foreign exchange controls to capital account private flows in 1978-80. These changes would jointly operate to completely change the country links with the ...
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.