![ZESZYTY NAUKOWE UNIWERSYTETU SZCZECIŃSKIEGO](http://s1.studyres.com/store/data/007818734_1-4a7f9e00c7f207258960b72e37233ac3-300x300.png)
ZESZYTY NAUKOWE UNIWERSYTETU SZCZECIŃSKIEGO
... In the last twenty years, the overall approach to monetary policy has gone through significant change. Representatives of various schools of economic thought reached a consensus that, in the long-run, central bank cannot permanently influence the rate of unemployment and economic growth by accommoda ...
... In the last twenty years, the overall approach to monetary policy has gone through significant change. Representatives of various schools of economic thought reached a consensus that, in the long-run, central bank cannot permanently influence the rate of unemployment and economic growth by accommoda ...
Crisis Averted—What`s Next?
... • Financial regulation agenda should keep up with new learning. Examples: Consider capital charges for systemic risk contribution, clearer mandates for financial stability and enlargement of perimeter of regulation, and limiting procyclicality (eg, dynamic provisioning) • If consistent with FX regim ...
... • Financial regulation agenda should keep up with new learning. Examples: Consider capital charges for systemic risk contribution, clearer mandates for financial stability and enlargement of perimeter of regulation, and limiting procyclicality (eg, dynamic provisioning) • If consistent with FX regim ...
NBER WORKING PAPER SERIES Jeffrey Frankel Working Paper 13050
... The remaining variables capture rates of return. It is not enough simply to add interest rates as a rate of return, and hope for a positive coefficient, because nominal high interest rates in developing countries usually reflect expected inflation, default risk, and devaluation risk. o Real interest ...
... The remaining variables capture rates of return. It is not enough simply to add interest rates as a rate of return, and hope for a positive coefficient, because nominal high interest rates in developing countries usually reflect expected inflation, default risk, and devaluation risk. o Real interest ...
A Small Open Economy in the Great Depression: the Case of
... forecast error variance. The results show that the economic part of the model contributes a significant variance share. The structural approach enables us to embark on a counterfactual experiment by simulating the Swiss economy in the case of a devaluation of the Swiss franc in September 1931, the m ...
... forecast error variance. The results show that the economic part of the model contributes a significant variance share. The structural approach enables us to embark on a counterfactual experiment by simulating the Swiss economy in the case of a devaluation of the Swiss franc in September 1931, the m ...
Exchange rate overshooting and the costs of floating April 2004 1 Michele Cavallo
... ii) A ‘European style’ crisis with a relatively large equilibrium devaluation (around 20%) but a very small overshooting; this pattern is observed for the European countries that experienced a currency crisis during the 1992 EMS turbulence period. iii) Crises with no substantial change in the long r ...
... ii) A ‘European style’ crisis with a relatively large equilibrium devaluation (around 20%) but a very small overshooting; this pattern is observed for the European countries that experienced a currency crisis during the 1992 EMS turbulence period. iii) Crises with no substantial change in the long r ...
This PDF is a selection from a published volume from... Economic Research
... In this paper we set out in greater detail how we think about the dynamic forces emanating from the emergence of China and Asia as major players in world capital and foreign exchange markets. Conventional analyses have been based for several years on the assertion that the Bretton Woods II system ca ...
... In this paper we set out in greater detail how we think about the dynamic forces emanating from the emergence of China and Asia as major players in world capital and foreign exchange markets. Conventional analyses have been based for several years on the assertion that the Bretton Woods II system ca ...
1. O verview
... As part of the steps to be taken during the normalization of global monetary policies, the CBRT also included some measures in the road map to enhance the flexibility of the FX liquidity management. In this regard, transaction limits for banks at the CBRT Foreign Exchange and Banknotes Markets were ...
... As part of the steps to be taken during the normalization of global monetary policies, the CBRT also included some measures in the road map to enhance the flexibility of the FX liquidity management. In this regard, transaction limits for banks at the CBRT Foreign Exchange and Banknotes Markets were ...
NBER WORKING PAPER SERIES WELFARE ECONOMICS OF DEBT SERVICE Dani Rodrik Working Paper
... domestic government debt, early repayment of foreign debt further deteriorates the public sector budget (and welfare) by pushing domestic real interest rates up. ...
... domestic government debt, early repayment of foreign debt further deteriorates the public sector budget (and welfare) by pushing domestic real interest rates up. ...
IOSR Journal Of Humanities And Social Science (JHSS)
... Three broad models of exchange rate determination appeared to be more common in the literature. They are mainly: the balance of payment (BOP) model, monetary model and portfolio – balance model It is also worth noting that (i) the Purchasing Power Parity Theory and (ii) the Uncovered Interest Parity ...
... Three broad models of exchange rate determination appeared to be more common in the literature. They are mainly: the balance of payment (BOP) model, monetary model and portfolio – balance model It is also worth noting that (i) the Purchasing Power Parity Theory and (ii) the Uncovered Interest Parity ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... to Taye (1999) is that devaluation switches demand from imports to domestically produced goods by increasing the relative prices of imports and making export industries more competitive in international markets thus stimulating domestic production of tradable goods and inducing domestic industries t ...
... to Taye (1999) is that devaluation switches demand from imports to domestically produced goods by increasing the relative prices of imports and making export industries more competitive in international markets thus stimulating domestic production of tradable goods and inducing domestic industries t ...
Presentation to Chapman University, Orange, CA
... less subject to the particularities of gold supply and demand. Nonetheless, it puts a straitjacket on a central bank’s ability to set monetary policy attuned to domestic economic conditions, since policy is beholden to the exchange-rate peg. As a result, monetary policy is less able to counter cycli ...
... less subject to the particularities of gold supply and demand. Nonetheless, it puts a straitjacket on a central bank’s ability to set monetary policy attuned to domestic economic conditions, since policy is beholden to the exchange-rate peg. As a result, monetary policy is less able to counter cycli ...
PATTERNS OF FINANCIAL CAPITAL FLOWS AND
... persistence of exchange rate risk against unforeseen fluctuations in the exchange rates. Furthermore, in such a world of volatile exchange rates, the traditional dictum regarding the global equalization of interest rates failed to take place. In such a world, it is clearly observed that the free mob ...
... persistence of exchange rate risk against unforeseen fluctuations in the exchange rates. Furthermore, in such a world of volatile exchange rates, the traditional dictum regarding the global equalization of interest rates failed to take place. In such a world, it is clearly observed that the free mob ...
Foreign Banks in the CESE Countries
... domestic banks in the GFC. Their overarching conclusion is that MNBs mitigate domestic financial shocks but transmit foreign shocks and, in the process, exacerbate shocks to the real sector in the host country. The authors find some evidence that weak parents may use internal capital market to repat ...
... domestic banks in the GFC. Their overarching conclusion is that MNBs mitigate domestic financial shocks but transmit foreign shocks and, in the process, exacerbate shocks to the real sector in the host country. The authors find some evidence that weak parents may use internal capital market to repat ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: The International Transmission of Inflation
... both “asset market approaches,” in the sense that the balance-ofpayments or exchange-rate fluctuations are caused basically by asset disequilibrium. However, there are some major differences. In MA, it is implicitly (e.g. most of the articles in Frenkel and Johnson 1978) or explicitly (e.g. Frenkel ...
... both “asset market approaches,” in the sense that the balance-ofpayments or exchange-rate fluctuations are caused basically by asset disequilibrium. However, there are some major differences. In MA, it is implicitly (e.g. most of the articles in Frenkel and Johnson 1978) or explicitly (e.g. Frenkel ...
balance of payments
... adding to the accounts a statistical discrepancy. It is very difficult to allocate this discrepancy among the current, capital, and financial accounts. ...
... adding to the accounts a statistical discrepancy. It is very difficult to allocate this discrepancy among the current, capital, and financial accounts. ...
Chap 16 Krugman
... • What models can predict how exchange rates behave? – In last chapter we developed a short-run model and a long-run model that used movements in the money supply. – In this chapter, we develop 2 more models, building on the long-run approach from last chapter. – Long run means a sufficient amount o ...
... • What models can predict how exchange rates behave? – In last chapter we developed a short-run model and a long-run model that used movements in the money supply. – In this chapter, we develop 2 more models, building on the long-run approach from last chapter. – Long run means a sufficient amount o ...
View/Open
... imported price inflation. Therefore, it is imperative for the monetary authority of Nigeria to monitor the trend in exchange rate depreciation so as to avoid excessive devaluation of the naira that could be detrimental to the contribution of agriculture to the gross domestic product through its infl ...
... imported price inflation. Therefore, it is imperative for the monetary authority of Nigeria to monitor the trend in exchange rate depreciation so as to avoid excessive devaluation of the naira that could be detrimental to the contribution of agriculture to the gross domestic product through its infl ...
Monetary and Fiscal Policies Post 25th January Revolution: Fighters Against Windmills
... operations, domestic interest rates, reserve requirements and other tools. Specifically, there are three channels through which monetary policy has its effects upon the economy; interest rate channel, exchange rate channel and credit channel. Interest rate channel reflects the effects of monetary po ...
... operations, domestic interest rates, reserve requirements and other tools. Specifically, there are three channels through which monetary policy has its effects upon the economy; interest rate channel, exchange rate channel and credit channel. Interest rate channel reflects the effects of monetary po ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... fighting inflation. Since the policy aimed at reducing the quantum of money in circulation or the expansionary monetary policy as it was argued by the manufacturers association of Nigeria (MAN), since, they believed that it is only the expansionary monetary policy that will put more money in their h ...
... fighting inflation. Since the policy aimed at reducing the quantum of money in circulation or the expansionary monetary policy as it was argued by the manufacturers association of Nigeria (MAN), since, they believed that it is only the expansionary monetary policy that will put more money in their h ...
Chapter 59: The role of monetary policy (2.5)
... Assuming that your next-best option is estimated at a money value of $5, then you would charge and interest rate of (at least) 5% ($100 × 5% = $5). If we now assume that there indeed is a steady rate of inflation, say 5%, what would you do? Correct; you would charge a higher rate of interest, 10.25% ...
... Assuming that your next-best option is estimated at a money value of $5, then you would charge and interest rate of (at least) 5% ($100 × 5% = $5). If we now assume that there indeed is a steady rate of inflation, say 5%, what would you do? Correct; you would charge a higher rate of interest, 10.25% ...
A G-Ppp Analysis to the Eac Monetary Integration Process
... This is because the mobility of factors provides a substitute for exchange rate flexibility in undertaking adjustment when a disturbance occurs (Mundell, 1961). According to Mundell (1961), if a negative asymmetric demand shock hits one of the members of an optimum currency area, the labor will move ...
... This is because the mobility of factors provides a substitute for exchange rate flexibility in undertaking adjustment when a disturbance occurs (Mundell, 1961). According to Mundell (1961), if a negative asymmetric demand shock hits one of the members of an optimum currency area, the labor will move ...
European Banking with a Single Currency
... missions is to prepare the monetary institutions and the European System of Central Banks. Finally, Stage III will lead to European Monetary Unification (EMU). Article 109J of the treaty is quite specific on the timing. At the latest in December 1996, the Council of Heads of State or government with ...
... missions is to prepare the monetary institutions and the European System of Central Banks. Finally, Stage III will lead to European Monetary Unification (EMU). Article 109J of the treaty is quite specific on the timing. At the latest in December 1996, the Council of Heads of State or government with ...
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.