NBER WORKING PAPER SERIES COMMODITY EXPORT BOOM AND THE REAL EXCHANGE RATE:
... export will generate a real appreciation of the domestic currency. In fact, equation (13) is the spending effect of a commodity export boom emphasized in the Dutch Disease literature (Corden, 198!t). This real appreciation takes place because, as a result of the boom, there is an increase in expendi ...
... export will generate a real appreciation of the domestic currency. In fact, equation (13) is the spending effect of a commodity export boom emphasized in the Dutch Disease literature (Corden, 198!t). This real appreciation takes place because, as a result of the boom, there is an increase in expendi ...
A Balance Sheet Approach to Financial Crisis - Mark Allen
... market conditions, perceived policy weaknesses, and negative shocks. Flows of private capital have been more volatile than many expected. A number of major emerging economies have experienced sharp financial crises since 1994. The financial structure of many emerging markets economies—the compositio ...
... market conditions, perceived policy weaknesses, and negative shocks. Flows of private capital have been more volatile than many expected. A number of major emerging economies have experienced sharp financial crises since 1994. The financial structure of many emerging markets economies—the compositio ...
PAGE ONE Economics - Federal Reserve Bank of St. Louis
... of gold from $20.67 to $35. Other countries have taken similar actions; they created money (and inflation) by repricing gold—or even departing from the gold standard entirely—during times of crisis or war.4 While it is often argued that a gold standard can effectively provide price stability, at lea ...
... of gold from $20.67 to $35. Other countries have taken similar actions; they created money (and inflation) by repricing gold—or even departing from the gold standard entirely—during times of crisis or war.4 While it is often argued that a gold standard can effectively provide price stability, at lea ...
the volatility of somalia`s unregulated exchange rates
... Historically, the monetary system of Somalia was stable and its national currency (Somali Shilling) had very strong value but Somali shilling started to depreciate after 1980s and its value reached to a very low level. Somalia’s central government collapsed in 1990 following three decades of stabili ...
... Historically, the monetary system of Somalia was stable and its national currency (Somali Shilling) had very strong value but Somali shilling started to depreciate after 1980s and its value reached to a very low level. Somalia’s central government collapsed in 1990 following three decades of stabili ...
World Bank Document - Open Knowledge Repository
... was 39.1 percent, versus 5.6 percent for the private banks, while after tax return on equity was minus 4.5 percent for the public banks, versus minus 0.9 percent for the private banks. Particularly vulnerable was the case of the BHU, which as of the end of 2001 represented approximately 10 percent o ...
... was 39.1 percent, versus 5.6 percent for the private banks, while after tax return on equity was minus 4.5 percent for the public banks, versus minus 0.9 percent for the private banks. Particularly vulnerable was the case of the BHU, which as of the end of 2001 represented approximately 10 percent o ...
Introducción - Banco de España
... promoted capital flows toward these economies. The revaluation trend was also reinforced by an upswing in investor confidence because of the good growth rates attained by these emerging economies during 2004. On the other hand, the US economy's good growth performance and China's dynamic economy pus ...
... promoted capital flows toward these economies. The revaluation trend was also reinforced by an upswing in investor confidence because of the good growth rates attained by these emerging economies during 2004. On the other hand, the US economy's good growth performance and China's dynamic economy pus ...
Entire Unit Module - Tippie College of Business
... natural rate leads to lower national output. High and unanticipated inflation rates distort the distribution of income and create uncertainty for investors and financial markets. Consistency and stability of the dollar’s exchange rate make international trade less risky. Hence, in addition to monit ...
... natural rate leads to lower national output. High and unanticipated inflation rates distort the distribution of income and create uncertainty for investors and financial markets. Consistency and stability of the dollar’s exchange rate make international trade less risky. Hence, in addition to monit ...
Additional Help
... is affected only indirectly by changes in bond prices or annual payments. is not related to bond prices or annual payments. ...
... is affected only indirectly by changes in bond prices or annual payments. is not related to bond prices or annual payments. ...
CHAPTER 2 SUGGESTED ANSWERS TO CHAPTER 2 QUESTIONS
... at the expense of a lower living standards for their populations (who find foreign goods and services more expensive). b. ...
... at the expense of a lower living standards for their populations (who find foreign goods and services more expensive). b. ...
Fiscal (and External) Sustainability
... portion of debt is denominated in foreign currency, we must take into account the debt composition and exchange rate movements. Let’s return to equation (4), we must worry about two things now. One is the effective interest on government debt, which will be a weighted average of domestic and foreign ...
... portion of debt is denominated in foreign currency, we must take into account the debt composition and exchange rate movements. Let’s return to equation (4), we must worry about two things now. One is the effective interest on government debt, which will be a weighted average of domestic and foreign ...
Riding the Wave of the Asian Financial Crisis
... Share prices had clearly been set to fall anyway, and various factors, working in combination, sent them crashing. Although the Central Bank brought into play its powerful weapon of lowering bank reserve rates, and proceeded to spend billions of US dollars on intervention, they were still unable to ...
... Share prices had clearly been set to fall anyway, and various factors, working in combination, sent them crashing. Although the Central Bank brought into play its powerful weapon of lowering bank reserve rates, and proceeded to spend billions of US dollars on intervention, they were still unable to ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... strong. However, from 1977 onward, it was subject to considerable downward pressure. The trade deficit was growing. Money supply, M2, increased at the rate of almost 25 percent a year, mainly because of even faster growth in bank credit. The start of Sino-British negotiations over the future of Hong ...
... strong. However, from 1977 onward, it was subject to considerable downward pressure. The trade deficit was growing. Money supply, M2, increased at the rate of almost 25 percent a year, mainly because of even faster growth in bank credit. The start of Sino-British negotiations over the future of Hong ...
The trade balance and the real exchange rate
... sensitive to movements in the real exchange rate. If trade balances and real exchange rates do not exhibit a close relationship, then changing the value of the currency will be of little help in closing trade gaps. Understanding what determines the sensitivity of the trade balance to real exchange r ...
... sensitive to movements in the real exchange rate. If trade balances and real exchange rates do not exhibit a close relationship, then changing the value of the currency will be of little help in closing trade gaps. Understanding what determines the sensitivity of the trade balance to real exchange r ...
NBER WORKING PAPER SERIES THE REAL EFFECTS OF FOREIGN OF CURRENCY SUBSTITUTION
... Particular attention is paid to the impact of foreign money balances. foreign inflation on the real exchange rate and other real variables. At first, an environment in which foreign money is the only traded asset is explored. This is compared to a more general setting in which many assets can be tra ...
... Particular attention is paid to the impact of foreign money balances. foreign inflation on the real exchange rate and other real variables. At first, an environment in which foreign money is the only traded asset is explored. This is compared to a more general setting in which many assets can be tra ...
30/01/15(9270w+1787=11057+225)
... and was, in general, linked to the evolution of both domestic and trade partners' inflation and the current account. The fiscal budget showed an average surplus of 2% of GDP in 1990-98. Increased social expenditure and public investment was financed with a tax reform launched in the first months aft ...
... and was, in general, linked to the evolution of both domestic and trade partners' inflation and the current account. The fiscal budget showed an average surplus of 2% of GDP in 1990-98. Increased social expenditure and public investment was financed with a tax reform launched in the first months aft ...
Venezuela
... when oil prices where close to historic lows (below $20 per barrel for more than six months) and a major strike paralyzed Petróleos de Venezuela S. A. (PDVSA) for weeks. The government adopted varying economic measures to have enough funds to repay debt, such as tighter capital controls and expendit ...
... when oil prices where close to historic lows (below $20 per barrel for more than six months) and a major strike paralyzed Petróleos de Venezuela S. A. (PDVSA) for weeks. The government adopted varying economic measures to have enough funds to repay debt, such as tighter capital controls and expendit ...
krugman_ethemes
... 2. Gross Domestic Product (GDP) has been growing in most quarters of the last few years as wages have simultaneously been falling. Is this consistent with the Heckscher-Ohlin model? Why does it make falling wages less of a concern? Answer: This remains consistent with the H-O model. Free trade produ ...
... 2. Gross Domestic Product (GDP) has been growing in most quarters of the last few years as wages have simultaneously been falling. Is this consistent with the Heckscher-Ohlin model? Why does it make falling wages less of a concern? Answer: This remains consistent with the H-O model. Free trade produ ...
International monetary systems
... deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements be ...
... deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements be ...
Characteristics and Possible Motivations
... The state’s desire to capture a larger share of the convertible currency generated by the influx of remittances appears to be another possible motive for dedollarization. In the early 1990s, Cuba embarked on a two-tiered strategy to attract remittances from abroad. The first part of this strategy co ...
... The state’s desire to capture a larger share of the convertible currency generated by the influx of remittances appears to be another possible motive for dedollarization. In the early 1990s, Cuba embarked on a two-tiered strategy to attract remittances from abroad. The first part of this strategy co ...
IMPORT AND EXPORT - Delhi District Courts
... in this manner and converting the same into US $ at the rate of foreign exchange prevailing on the date of issue of the licence export obligation in the sum of US $ 11,600,459 was worked out. Therefore, at the time of issuance of the licences when the export obligation was to be calculated in terms ...
... in this manner and converting the same into US $ at the rate of foreign exchange prevailing on the date of issue of the licence export obligation in the sum of US $ 11,600,459 was worked out. Therefore, at the time of issuance of the licences when the export obligation was to be calculated in terms ...
The Price Puzzle in Emerging Markets:
... Imbalances arising from public budget limitations, namely budget deficit and its financing method, put direct and, through expectations, indirect pressure on the economy, which accumulated through the end of 1990s. Following 1998 Russian crisis and the devastating 1999 earthquake, Turkish economy e ...
... Imbalances arising from public budget limitations, namely budget deficit and its financing method, put direct and, through expectations, indirect pressure on the economy, which accumulated through the end of 1990s. Following 1998 Russian crisis and the devastating 1999 earthquake, Turkish economy e ...
Alternatives to inflation targeting in Mexico Luis Miguel Galindo Jaime Ros
... Yet, there are also a number of concerns regarding the adoption of an IT regime. There is an important concern about the ability of the Central Bank to control the inflation rate in particular under the presence of fiscal or external shocks. In the case of emerging market economies there is further ...
... Yet, there are also a number of concerns regarding the adoption of an IT regime. There is an important concern about the ability of the Central Bank to control the inflation rate in particular under the presence of fiscal or external shocks. In the case of emerging market economies there is further ...
This PDF is a selection from a published volume from... Research Volume Title: International Dimensions of Monetary Policy
... The framework is a variation of OR’s model of current account adjustment and the exchange rate. Whereas OR studied a simple two-country endowment economy, we add production, nominal price rigidities, and monetary policy. In addition, while OR performed the static experiment of examining the response ...
... The framework is a variation of OR’s model of current account adjustment and the exchange rate. Whereas OR studied a simple two-country endowment economy, we add production, nominal price rigidities, and monetary policy. In addition, while OR performed the static experiment of examining the response ...
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.