International Economics: Feenstra/Taylor 2/e
... macroeconomic policies, whether to pay (or not pay) their debts, and so on. • To gain a deeper understanding of the global macroeconomy, economists study policies, and also consider the broader context or rules and norms, or regimes in which policy choices are made. • At the broadest level, research ...
... macroeconomic policies, whether to pay (or not pay) their debts, and so on. • To gain a deeper understanding of the global macroeconomy, economists study policies, and also consider the broader context or rules and norms, or regimes in which policy choices are made. • At the broadest level, research ...
The Global Crisis of the Late 2000s and Currency Substitution: A
... this paper, indirect exchange rates are used for American investors, while direct exchange rates are used for local investors. Local investors prefer using direct exchange rates in order to understand how much one US dollar is worth in terms of the local currency. Exchange rates are official central ...
... this paper, indirect exchange rates are used for American investors, while direct exchange rates are used for local investors. Local investors prefer using direct exchange rates in order to understand how much one US dollar is worth in terms of the local currency. Exchange rates are official central ...
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... the euro area, reflecting, in part, linguistic and cultural differences, the mobility of capital has been increasing as evidenced by the positive effect that the euro has had on intra-euro area FDI. Between 1999 and 2006 (the latest data available), the stock of euro area FDI more than doubled, from ...
... the euro area, reflecting, in part, linguistic and cultural differences, the mobility of capital has been increasing as evidenced by the positive effect that the euro has had on intra-euro area FDI. Between 1999 and 2006 (the latest data available), the stock of euro area FDI more than doubled, from ...
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... rate by the development of domestic financial markets. However, most of them just stop the impact assessment not specific solutions to improve ability of the agricultural products export in general in the world. Different studies have shown the negative impact of exchange rate on exporting agricultu ...
... rate by the development of domestic financial markets. However, most of them just stop the impact assessment not specific solutions to improve ability of the agricultural products export in general in the world. Different studies have shown the negative impact of exchange rate on exporting agricultu ...
Why are some exchange rates more volatile than others? Evidence from
... stability, by reducing the likelihood of speculative attacks against the currency. Clark et al (2004) collected data for almost all IMF-member countries, and found that less ‡exible exchange rate regimes do not necessarily guarantee reduced real exchange rate volatility. It could be argued that peg ...
... stability, by reducing the likelihood of speculative attacks against the currency. Clark et al (2004) collected data for almost all IMF-member countries, and found that less ‡exible exchange rate regimes do not necessarily guarantee reduced real exchange rate volatility. It could be argued that peg ...
Book Excerpt
... Rowan, Robert. Foreign Currency Financial Reporting from Euro to Yen to Yuan: A Guide to Fundamental Concepts and Practical Applications. Copyright © 2011. For additional SAS resources, ...
... Rowan, Robert. Foreign Currency Financial Reporting from Euro to Yen to Yuan: A Guide to Fundamental Concepts and Practical Applications. Copyright © 2011. For additional SAS resources, ...
Inflation, exchange rates and the role of monetary
... pleasant surprise to many people.1 Starting from a very low base in 1991/92, Albania quickly entered on a path of high GDP growth and falling inflation, in conjunction with the first moves towards serious market reforms. These achievements were jeopardised but not permanently reversed by a period of ...
... pleasant surprise to many people.1 Starting from a very low base in 1991/92, Albania quickly entered on a path of high GDP growth and falling inflation, in conjunction with the first moves towards serious market reforms. These achievements were jeopardised but not permanently reversed by a period of ...
3. External and Internal Balance
... sector, and last but not least, by the continuing effect of the changed economic structure, particularly due to effects of the long-term inflow of direct foreign investment to the Czech Republic. The trade balance result is also exceptional with respect to the fact that almost during the entire year ...
... sector, and last but not least, by the continuing effect of the changed economic structure, particularly due to effects of the long-term inflow of direct foreign investment to the Czech Republic. The trade balance result is also exceptional with respect to the fact that almost during the entire year ...
Rolling Back the Strong Yen under a Dollar Reserve Currency Regime
... immediately replace the dollar as a reserve currency, given customary practice and the low transaction costs of using the dollar. Asia, which supports demand for dollars, is expected to remain a major source of demand for US Treasuries and other dollar-denominated debt assets as long as the region d ...
... immediately replace the dollar as a reserve currency, given customary practice and the low transaction costs of using the dollar. Asia, which supports demand for dollars, is expected to remain a major source of demand for US Treasuries and other dollar-denominated debt assets as long as the region d ...
confidential - Reserve Bank of Australia
... It is likely that the gold lending market will continue to expand. Central banks in total hold about 28 000 tonnes of gold, so the amount currently on loan is only a small part of the potential. While not all central banks engage in gold lending, those that currently do hold about 7 000 toimes, and ...
... It is likely that the gold lending market will continue to expand. Central banks in total hold about 28 000 tonnes of gold, so the amount currently on loan is only a small part of the potential. While not all central banks engage in gold lending, those that currently do hold about 7 000 toimes, and ...
Fiat Value in the Theory of Value
... than M2, which is about 0.6. As pointed out by Williamson [2012], two types of money are used for transaction purposes. Much of the liquid government debt is held as cash reserves, and in 2015 the nominal return on this debt in the major advanced industrial countries was near zero. Businesses ma ...
... than M2, which is about 0.6. As pointed out by Williamson [2012], two types of money are used for transaction purposes. Much of the liquid government debt is held as cash reserves, and in 2015 the nominal return on this debt in the major advanced industrial countries was near zero. Businesses ma ...
Recommending a Strategy
... non-inflationary financing of government expenditures Implicit commitment to a low rate of inflation (a rate of inflation similar to that of the United States)—lowers inflationary expectations if credible The rate of interest and the rate of inflation will be at U.S. levels if credible Promotes long ...
... non-inflationary financing of government expenditures Implicit commitment to a low rate of inflation (a rate of inflation similar to that of the United States)—lowers inflationary expectations if credible The rate of interest and the rate of inflation will be at U.S. levels if credible Promotes long ...
A r t i c l e s
... New Zealand trade, but also on trade in manufactured goods between our major trading partners and other countries, and on the world commodity trade of those countries that are important buyers or sellers of commodities relevant to New Zealand. Because the method involves building an aggregate index ...
... New Zealand trade, but also on trade in manufactured goods between our major trading partners and other countries, and on the world commodity trade of those countries that are important buyers or sellers of commodities relevant to New Zealand. Because the method involves building an aggregate index ...
Optimal Devaluations - Federal Reserve Bank of Minneapolis
... of the exportable commodity in small open economies that follow inflation targeting.3 Figure 2 depicts the nominal exchange rate and the dollar price of the main exportable commodity for Chile and Norway as deviations from trend. The shocks are very large. In Table 2, we report several moments for ...
... of the exportable commodity in small open economies that follow inflation targeting.3 Figure 2 depicts the nominal exchange rate and the dollar price of the main exportable commodity for Chile and Norway as deviations from trend. The shocks are very large. In Table 2, we report several moments for ...
ge07 Egert 4676541 en
... level of nontradable goods. If wages tend to equalize across the open and sheltered sectors, and prices in the sheltered sector are determined mainly by wage costs, the price of nontradable goods will be lower in the low-productivity country than in high-productivity countries. However, if the less ...
... level of nontradable goods. If wages tend to equalize across the open and sheltered sectors, and prices in the sheltered sector are determined mainly by wage costs, the price of nontradable goods will be lower in the low-productivity country than in high-productivity countries. However, if the less ...
NBER WORKING PAPER SERIES EXCHANGE RATE DYNAMICS REDUX Maurice Obstfeld Kenneth Rogoff
... relative price of home and foreign goods (the terms of trade) can vary. Even the steady-state terms of trade change as relative wealth changes because the marginal benefit from production is declining in wealth. In the special case where net foreign assets are zero and per capita government spending ...
... relative price of home and foreign goods (the terms of trade) can vary. Even the steady-state terms of trade change as relative wealth changes because the marginal benefit from production is declining in wealth. In the special case where net foreign assets are zero and per capita government spending ...
Developing Countries
... Where exchange rates are not pegged outright (as in China), they tend to be managed more heavily by developing-country governments. Government measures to limit exchange rate flexibility reflect both a desire to keep inflation under control and the fear that floating exchange rates would be subject ...
... Where exchange rates are not pegged outright (as in China), they tend to be managed more heavily by developing-country governments. Government measures to limit exchange rate flexibility reflect both a desire to keep inflation under control and the fear that floating exchange rates would be subject ...
Real Interest Rate
... and domestic residents buy fewer foreign assets. Higher interest rates also attract foreign investors, who want to earn the higher returns on US. Assets. • Thus, when budget deficits raise interest rates, both domestic and foreign behavior cause US. Net capital outflow to fall. ...
... and domestic residents buy fewer foreign assets. Higher interest rates also attract foreign investors, who want to earn the higher returns on US. Assets. • Thus, when budget deficits raise interest rates, both domestic and foreign behavior cause US. Net capital outflow to fall. ...
relationship between currency depreciation and output growth in
... In this equation Y is the variable under consideration, � is the first difference operator, t is a time trend and � is a stationary random error. Where, �t represents a sequence of uncorrelated stationary error terms having zero mean and constant variance. k is the optimum lag which should be chosen ...
... In this equation Y is the variable under consideration, � is the first difference operator, t is a time trend and � is a stationary random error. Where, �t represents a sequence of uncorrelated stationary error terms having zero mean and constant variance. k is the optimum lag which should be chosen ...
How international investment income flows affect Australia`s balance
... bonds. Both have tended to come down over the past decade as lower inflation has become firmly established both in Australia and major overseas economies. The recent rise in global bond yields should gradually be reflected in increased average yields earned by Australian investors as old bonds matur ...
... bonds. Both have tended to come down over the past decade as lower inflation has become firmly established both in Australia and major overseas economies. The recent rise in global bond yields should gradually be reflected in increased average yields earned by Australian investors as old bonds matur ...
Putting the `system` in the international monetary system
... requirement that Bank of England notes be convertible into specie, and then required the Bank to finance the war by purchasing government bonds. This expansionary monetary policy led to a rise in domest ...
... requirement that Bank of England notes be convertible into specie, and then required the Bank to finance the war by purchasing government bonds. This expansionary monetary policy led to a rise in domest ...
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.