IMF International Capital Markets September 1998-
... As used in this volume the term "country" does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate ...
... As used in this volume the term "country" does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate ...
NBER WORKING PAPER SERIES FRANCE AND THE BRETFON WOODS Michael D. Bordo
... price had to be stable because it was the standard of reference determining the price of every country's currency, with a fixed parity. If the price of gold were fixed, the world's gold production might not grow at the same pace as the world's demand for liquidity to accommodate its transactions. Th ...
... price had to be stable because it was the standard of reference determining the price of every country's currency, with a fixed parity. If the price of gold were fixed, the world's gold production might not grow at the same pace as the world's demand for liquidity to accommodate its transactions. Th ...
Currency competition between Euro and US Dollar
... More recently, the euro experienced a rather long period of dramatic depreciation during 1999 and early 2002 followed by a strong rally after the middle of 2002. ...
... More recently, the euro experienced a rather long period of dramatic depreciation during 1999 and early 2002 followed by a strong rally after the middle of 2002. ...
NBER WORKING PAPER SERIES FINANCIAL LIBERALIZATIONS IN LATIN-AMERICA IN THE 1990s:
... exceptionally low levels of self-financing, but also mediocre growth performance. Figures 3.B and 3.C report the dramatic experience of Argentina and Mexico: both experienced serious financial crises and associated “sudden stops” in external financing. Both experiences are characterized by a reversa ...
... exceptionally low levels of self-financing, but also mediocre growth performance. Figures 3.B and 3.C report the dramatic experience of Argentina and Mexico: both experienced serious financial crises and associated “sudden stops” in external financing. Both experiences are characterized by a reversa ...
US Presidential Cycle and Foreign Exchange Market
... foreign exchange rate systems is £0.01, €0.05, and ¥34.679. The insignificant relation between presidential terms and the Foreign exchange(FX) returns remains stable across subsamples with only one exception for the average returns on U.S. dollar- Japanese yen exchange rate which is higher under De ...
... foreign exchange rate systems is £0.01, €0.05, and ¥34.679. The insignificant relation between presidential terms and the Foreign exchange(FX) returns remains stable across subsamples with only one exception for the average returns on U.S. dollar- Japanese yen exchange rate which is higher under De ...
The Panorama of the East Asian Crisis and the IMF`s
... Corden’s analysis regarding exchange rates in Thailand is more detailed than Blustein’s. He stresses that the speculators contributed to the depreciation of the baht, thus “the crisis was triggered by speculation against the currency, but in a fundamental sense did not depend on it.”5 The borrowing ...
... Corden’s analysis regarding exchange rates in Thailand is more detailed than Blustein’s. He stresses that the speculators contributed to the depreciation of the baht, thus “the crisis was triggered by speculation against the currency, but in a fundamental sense did not depend on it.”5 The borrowing ...
8 - of Planning Commission
... policies across countries. The IMF also undertakes broader assessments of the global economic situation through the World Economic Outlook, the Global Financial Stability Reports, and more recently through the Fiscal Monitor, but these do not involve discussion of individual country policies in the ...
... policies across countries. The IMF also undertakes broader assessments of the global economic situation through the World Economic Outlook, the Global Financial Stability Reports, and more recently through the Fiscal Monitor, but these do not involve discussion of individual country policies in the ...
Indonesia We Need a Cute Subtitle
... The fall in income, which decreases money demanded The reduced demand in money reduces the nominal interest rate The nominal interest rate falls below the expected deflation, thus the real interest rate raises. ...
... The fall in income, which decreases money demanded The reduced demand in money reduces the nominal interest rate The nominal interest rate falls below the expected deflation, thus the real interest rate raises. ...
Does inflation or currency depreciation drive monetary policy in
... currency appreciation. Thus, there is a tension between the policy objectives of stabilising the exchange rate or inflation. To resolve this tension, the policy challenge therefore is to design an optimal monetary policy, as a flexible targeting rule giving weights to both policy objectives. 3. A mo ...
... currency appreciation. Thus, there is a tension between the policy objectives of stabilising the exchange rate or inflation. To resolve this tension, the policy challenge therefore is to design an optimal monetary policy, as a flexible targeting rule giving weights to both policy objectives. 3. A mo ...
full text
... The rise in the price level was induced by both external and domestic factors. Because the FX rate was pegged to the US dollar and, at the same time, the inflation rates in the worldwide economy surged during this period, the domestic prices were affected negatively because of imported inflation. Th ...
... The rise in the price level was induced by both external and domestic factors. Because the FX rate was pegged to the US dollar and, at the same time, the inflation rates in the worldwide economy surged during this period, the domestic prices were affected negatively because of imported inflation. Th ...
Does the Exchange Rate Regime Matter for Inflation? Ilker Domaç
... developments in Argentina. More precisely, the debate over fixed and flexible exchange regimes has once again taken center stage. Some claimed that the first round of this debate was won by those advocating flexible regimes: all crisis episodes took place in countries which had adopted a variety of ...
... developments in Argentina. More precisely, the debate over fixed and flexible exchange regimes has once again taken center stage. Some claimed that the first round of this debate was won by those advocating flexible regimes: all crisis episodes took place in countries which had adopted a variety of ...
a brief review of the monetary policies in the united states
... reserve requirement ratios that govern the level of reserves banks must hold against their deposit liabilities, and the composition of the central bank’s own balance sheet. The instruments of policy are employed to accomplish a pre-specified value of an operating target, typically a particular measu ...
... reserve requirement ratios that govern the level of reserves banks must hold against their deposit liabilities, and the composition of the central bank’s own balance sheet. The instruments of policy are employed to accomplish a pre-specified value of an operating target, typically a particular measu ...
exchange rate regimes for developing and emerging markets
... A currency board is central monetary institution that issues domestic currency only in exchange for assets of the currency to which the currency board country has chosen to peg. A currency board combines three elements: a fixed exchange rate between a country’s currency and an “anchor currency”, ...
... A currency board is central monetary institution that issues domestic currency only in exchange for assets of the currency to which the currency board country has chosen to peg. A currency board combines three elements: a fixed exchange rate between a country’s currency and an “anchor currency”, ...
Highly Important Question National Income and
... 35. Explain the concept of deflationary gap. Explain two measures by which a central bank can attempt to reduce this gap. 36. State whether the following statements are true or false. Give reasons for your answer: (a) When marginal propensity to consume is greater than marginal propensity to save, ...
... 35. Explain the concept of deflationary gap. Explain two measures by which a central bank can attempt to reduce this gap. 36. State whether the following statements are true or false. Give reasons for your answer: (a) When marginal propensity to consume is greater than marginal propensity to save, ...
NBER WORKING PAPER SERIES BOOM-BUST CYCLES IN MIDDLE INCOME COUNTRIES: Aaron Tornell
... N-sector is heavily dependent on bank credit. Banks in turn are strongly exposed to the N-sector and denominate their liabilities mostly in foreign currency. Furthermore, banks’ lending is constrained both by their capital and that of the firms they lend to. How can we explain the simultaneous occur ...
... N-sector is heavily dependent on bank credit. Banks in turn are strongly exposed to the N-sector and denominate their liabilities mostly in foreign currency. Furthermore, banks’ lending is constrained both by their capital and that of the firms they lend to. How can we explain the simultaneous occur ...
Chap_22
... Borrowing and Debt in Low- and MiddleIncome Economies • Another common characteristic for many low- and middle-income countries is that they have traditionally borrowed from foreign countries. – Financial asset flows from foreign countries are able to finance investment projects, eventually leading ...
... Borrowing and Debt in Low- and MiddleIncome Economies • Another common characteristic for many low- and middle-income countries is that they have traditionally borrowed from foreign countries. – Financial asset flows from foreign countries are able to finance investment projects, eventually leading ...
Document
... II. the Bank of Japan III. the ECB A) I and II B) I and III C) II and III D) All three engage in approximately equal amounts of this type lending. Ans: C Dif: M 11. The interest rate that the Federal Reserve charges on loans to private banks is called the A) Lombard rate. B) fed funds rate. C) prime ...
... II. the Bank of Japan III. the ECB A) I and II B) I and III C) II and III D) All three engage in approximately equal amounts of this type lending. Ans: C Dif: M 11. The interest rate that the Federal Reserve charges on loans to private banks is called the A) Lombard rate. B) fed funds rate. C) prime ...
foreign exchange rate regimes and foreign exchange markets in
... increases the foreign exchange risk, and also demands the development of adequate foreign exchange transactions and instruments which serve to cover exchange risk. Fixed rates reduce the foreign exchange exposure and risk. They are connected with the preference for stability and certainty. On the ot ...
... increases the foreign exchange risk, and also demands the development of adequate foreign exchange transactions and instruments which serve to cover exchange risk. Fixed rates reduce the foreign exchange exposure and risk. They are connected with the preference for stability and certainty. On the ot ...
Costs, Benefits, and Constraints of the Basket Currency Regime
... “Little wonder, then, that policymakers involved in dealing with these crises have warned strongly against the use of pegged rates for countries open to international capital flows. That warning has tended to take the form of advice that intermediate policy regimes between hard pegs and floating are ...
... “Little wonder, then, that policymakers involved in dealing with these crises have warned strongly against the use of pegged rates for countries open to international capital flows. That warning has tended to take the form of advice that intermediate policy regimes between hard pegs and floating are ...
Consequences of a current account surplus
... • Portfolio investment, such as a UK investor buying shares in an existing business abroad. With portfolio investment, the investor has no control over the enterprise. Financial derivatives are any financial instrument whose underlying value is based on another asset, such as a foreign currency, int ...
... • Portfolio investment, such as a UK investor buying shares in an existing business abroad. With portfolio investment, the investor has no control over the enterprise. Financial derivatives are any financial instrument whose underlying value is based on another asset, such as a foreign currency, int ...
Calculating the Unthinkable: Exchange Rate Effects of a Credit Event
... the euro zone, we create a portfolio of credit default swaps (CDS) referencing to the same sovereign entities. For European sovereigns, it is possible to trade CDS that are denominated either in Euro or US-Dollars. These CDS are currently muchdiscussed, see, e.g. Felsenheimer (2012) or Pollack (2011 ...
... the euro zone, we create a portfolio of credit default swaps (CDS) referencing to the same sovereign entities. For European sovereigns, it is possible to trade CDS that are denominated either in Euro or US-Dollars. These CDS are currently muchdiscussed, see, e.g. Felsenheimer (2012) or Pollack (2011 ...
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.