5. Interest Rates7
... aggregates still recorded a reduction in their growth pace. Indeed, the year-on-year change of the broadest aggregate in pesos (M32) posted a 1.8 p.p. decrease, down to 29.1%, whereas the year-on-year expansion pace of the transactional money of the private sector (Private M23) slowed down by 0.6 p. ...
... aggregates still recorded a reduction in their growth pace. Indeed, the year-on-year change of the broadest aggregate in pesos (M32) posted a 1.8 p.p. decrease, down to 29.1%, whereas the year-on-year expansion pace of the transactional money of the private sector (Private M23) slowed down by 0.6 p. ...
Krugman-Chapter 20
... • At some critical point measuring the degree of integration, the monetary efficiency gain will exceed the economic stability loss for a member considering joining a fixed exchange rate system. ...
... • At some critical point measuring the degree of integration, the monetary efficiency gain will exceed the economic stability loss for a member considering joining a fixed exchange rate system. ...
Chapter 17
... opportunity cost of holding money increases and the quantity of money demanded falls • The location of Md is determined by the level of income ...
... opportunity cost of holding money increases and the quantity of money demanded falls • The location of Md is determined by the level of income ...
The taxonomy of Sovereign Investment Funds www.pwc.com/sovereignwealthfunds
... Norway case study: The evolution of the GPFG’s objectives Norway’s $859bn fund has evolved considerably since its creation in 1990. The Norwegian Government Petroleum Fund (NGPF) was established to smooth the consumption of oil revenue across generations, to pay for the ageing population, and to pre ...
... Norway case study: The evolution of the GPFG’s objectives Norway’s $859bn fund has evolved considerably since its creation in 1990. The Norwegian Government Petroleum Fund (NGPF) was established to smooth the consumption of oil revenue across generations, to pay for the ageing population, and to pre ...
krugman_PPT_c20
... • early in the EMS some exchange controls were also enforced to limit trading of currencies. But from 1987–1990 these controls were lifted in order to make the EU a common market for financial assets. ...
... • early in the EMS some exchange controls were also enforced to limit trading of currencies. But from 1987–1990 these controls were lifted in order to make the EU a common market for financial assets. ...
MONETARY POLICY IN A DSGE MODEL WITH “CHINESE CHARACTERISTICS”
... calculated ex post in the absence of default. Ex ante, under efficient capital markets and open capital accounts, uncovered interest rate parity (UIP) should ensure that expected returns on domestic and foreign assets are equal net of risk premia.4 In contrast, China’s closed capital account removes ...
... calculated ex post in the absence of default. Ex ante, under efficient capital markets and open capital accounts, uncovered interest rate parity (UIP) should ensure that expected returns on domestic and foreign assets are equal net of risk premia.4 In contrast, China’s closed capital account removes ...
Working_paper_09-13r
... accruing to the government, it limits the government’s possibility to save the inflow and use it to allocate resources to key sectors of the economy. As mentioned in the literature on commodity booms (Collier and Gunning 1999, Hill 1991), the best response to a shock is to stretch investments until ...
... accruing to the government, it limits the government’s possibility to save the inflow and use it to allocate resources to key sectors of the economy. As mentioned in the literature on commodity booms (Collier and Gunning 1999, Hill 1991), the best response to a shock is to stretch investments until ...
LEADING INDICATORS OF CURRENCY CRISES IN EMERGING
... Theoretical work provides some guidance when choosing potential leading indicators, which should reflect fundamentals as well as any variable able to influence the market expectations. However, it does not allow to discriminate between competing indicators nor does it enable their respective weights ...
... Theoretical work provides some guidance when choosing potential leading indicators, which should reflect fundamentals as well as any variable able to influence the market expectations. However, it does not allow to discriminate between competing indicators nor does it enable their respective weights ...
View/Open
... options offer themselves: natural resource exports, production or reserves. The claim that being a resource export dependent country slows down its expected rate of growth, is a different claim than arguing that high mineral reserves or production of those reserves is associated with slower rates of ...
... options offer themselves: natural resource exports, production or reserves. The claim that being a resource export dependent country slows down its expected rate of growth, is a different claim than arguing that high mineral reserves or production of those reserves is associated with slower rates of ...
An Analysis of the Carry Trade - Trace: Tennessee Research and
... from Japan, coupled with high-interest investment in Australia had to remove their capital to prevent losses. Those who had been a part of this investment strategy for most of the previous decade saw large profits, while investors who had entered the carry trade strategy shortly before the unwinding ...
... from Japan, coupled with high-interest investment in Australia had to remove their capital to prevent losses. Those who had been a part of this investment strategy for most of the previous decade saw large profits, while investors who had entered the carry trade strategy shortly before the unwinding ...
Europe`s Great Depression: coordination failure
... of payments, not to support domestic macroeconomic policies. In a nutshell these rules provided that whenever gold flowed into a country a central bank should increase the supply of national currency, and, similarly, whenever gold flowed out, the central bank was expected to contract its domestic as ...
... of payments, not to support domestic macroeconomic policies. In a nutshell these rules provided that whenever gold flowed into a country a central bank should increase the supply of national currency, and, similarly, whenever gold flowed out, the central bank was expected to contract its domestic as ...
Document
... Where Do We See This in the Real World? The yield on the 10-year Treasury note, a benchmark for corporate borrowing and home loans, soared to the highest in a year after Fed Chairmen Alan Greenspan in July testified before the House finance committee. Greenspan said conditions compelling the Fed to ...
... Where Do We See This in the Real World? The yield on the 10-year Treasury note, a benchmark for corporate borrowing and home loans, soared to the highest in a year after Fed Chairmen Alan Greenspan in July testified before the House finance committee. Greenspan said conditions compelling the Fed to ...
Reforming the Transmission Mechanism of Monetary Policy in China
... PBC has promulgated some policies to support the non-SOEs' development. By the end of 1998, the outstanding loans to non-SOEs account for 41.82 percent of total ...
... PBC has promulgated some policies to support the non-SOEs' development. By the end of 1998, the outstanding loans to non-SOEs account for 41.82 percent of total ...
כלכלת ישראל - משרד האוצר
... The growth rate is expressed as the rate of quarter-on-quarter change in annual terms. In 1999–2000, Israel had a very vigorous growth rate relative to the economy’s past performance and by international standards. Since October 2000, the growth rate has been declining due to the global economic slo ...
... The growth rate is expressed as the rate of quarter-on-quarter change in annual terms. In 1999–2000, Israel had a very vigorous growth rate relative to the economy’s past performance and by international standards. Since October 2000, the growth rate has been declining due to the global economic slo ...
Ch 33
... long-term interest rates D. maximum employment, predictable prices, and shortterm interest rates that are lower than long-term interest rates. © 2013 Pearson ...
... long-term interest rates D. maximum employment, predictable prices, and shortterm interest rates that are lower than long-term interest rates. © 2013 Pearson ...
International Conference on Economic and Social Studies, 10
... Dutch Disease is the model, which tries to explain the contradictory relationship between the greater exploitation of natural resources and a decline in the sector of natural resources. Theory suggests that an increase in foreign inflows currency from export of natural resources is associated with o ...
... Dutch Disease is the model, which tries to explain the contradictory relationship between the greater exploitation of natural resources and a decline in the sector of natural resources. Theory suggests that an increase in foreign inflows currency from export of natural resources is associated with o ...
money supply
... Fig29-3. While the Fed Ultimately Pursues Objectives like Stable Prices, Its short-term Operations Focus on the intermediate targets In determining monetary policy, the Fed directly manipulates the instruments or policy variables under its control----open-market operations, the discount rate, and re ...
... Fig29-3. While the Fed Ultimately Pursues Objectives like Stable Prices, Its short-term Operations Focus on the intermediate targets In determining monetary policy, the Fed directly manipulates the instruments or policy variables under its control----open-market operations, the discount rate, and re ...
Presentation by Liqing Zhang, Zhigang Huang
... liberalization made some progresses in the past few years, providing a legal channel for short-term capital inflows. Meanwhile, a large amount of short-term capital flowed into China through kinds of illegal channel. We focus our eyes on short-term capital inflows in this paper, which is also called ...
... liberalization made some progresses in the past few years, providing a legal channel for short-term capital inflows. Meanwhile, a large amount of short-term capital flowed into China through kinds of illegal channel. We focus our eyes on short-term capital inflows in this paper, which is also called ...
A review of the trade weighted exchange rate index Hannah Kite
... competition exporters face from competing suppliers in their export markets (see box 1). To do so, the bilateral trade weights for the currencies included in the TWI were adjusted to reflect the relative size of the economy in question by placing a 50 percent weight on GDP. This was intended to capt ...
... competition exporters face from competing suppliers in their export markets (see box 1). To do so, the bilateral trade weights for the currencies included in the TWI were adjusted to reflect the relative size of the economy in question by placing a 50 percent weight on GDP. This was intended to capt ...
NBER WORKING PAPER SERIES MONOPOLISTIC COMPETITION AND DEVIATIONS FROM PPP Joshua Aizenman
... setting. We take the case for which each pricing decision involves real cost. Those costs reflect, for example, expensive collection and processing of information and lead producers to reduce the frequency of their pricing ...
... setting. We take the case for which each pricing decision involves real cost. Those costs reflect, for example, expensive collection and processing of information and lead producers to reduce the frequency of their pricing ...
The changing transmission mechanism of New Zealand monetary
... by general equilibrium (or whole-economy) theory, and are The Reserve Bank’s Forecasting and Policy System (FPS) has been used as the primary tool for producing the Bank’s published forecasts since 1997. It features a dynamic adjustment process that determines how inflation and other variables retur ...
... by general equilibrium (or whole-economy) theory, and are The Reserve Bank’s Forecasting and Policy System (FPS) has been used as the primary tool for producing the Bank’s published forecasts since 1997. It features a dynamic adjustment process that determines how inflation and other variables retur ...
PIIE Briefing 16-5: China`s New Economic Frontier: Overcoming
... aging population, shrinking labor force, and a slow transition from manufacturing to services risk threatening the country’s social and economic stability. China’s continued economic growth is an essential part of the Chinese Dream, President Xi Jinping’s vision for the reemergence of China’s promin ...
... aging population, shrinking labor force, and a slow transition from manufacturing to services risk threatening the country’s social and economic stability. China’s continued economic growth is an essential part of the Chinese Dream, President Xi Jinping’s vision for the reemergence of China’s promin ...
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.