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Advanced Macroeconomics - Juridica – Kolegji Evropian
... This book was written to complete the curriculum requirement of the Master’s of Macroeconomics degree. Macroeconomics is a very practical subject and can be very useful for policy making. Domestic and international economies are subjected to variations in savings, income, exchange rates, as well as ...
... This book was written to complete the curriculum requirement of the Master’s of Macroeconomics degree. Macroeconomics is a very practical subject and can be very useful for policy making. Domestic and international economies are subjected to variations in savings, income, exchange rates, as well as ...
... current account deficits are reflected in the current net foreign liabilities, and these interrelationships are enforced during model simulation and projections. These stock-flow relationships imply important closure relationships. For example, consumers have a target for equilibrium debt (net forei ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... where T and y are the rate of inflation and the growth rate of real GDP, respectively. The term a represents the noninflationary level of velocity, and f3 is the responsiveness of velocity to the rate of inflation. This equation shows that because the deficit is financed by money creation there is i ...
... where T and y are the rate of inflation and the growth rate of real GDP, respectively. The term a represents the noninflationary level of velocity, and f3 is the responsiveness of velocity to the rate of inflation. This equation shows that because the deficit is financed by money creation there is i ...
Medium Term Debt Management Strategy
... that domestic debt should not crowd out the private sector in the credit market, an engine of economic growth and development. It is also noted that the current low interest rate environment might only be a short term phenomenon, thus posing a significant risk to containing the cost of debt. Both th ...
... that domestic debt should not crowd out the private sector in the credit market, an engine of economic growth and development. It is also noted that the current low interest rate environment might only be a short term phenomenon, thus posing a significant risk to containing the cost of debt. Both th ...
Impact of the Euro adoption on the Economy of Latvia
... In the past decade, Latvia's macroeconomic structure and the financial system have undergone momentous and radical changes, and the experience gained so far supports the assumption that the economy has been able to adjust effectively to changes in external environment. The calculations based on the ...
... In the past decade, Latvia's macroeconomic structure and the financial system have undergone momentous and radical changes, and the experience gained so far supports the assumption that the economy has been able to adjust effectively to changes in external environment. The calculations based on the ...
Macroeconomic and Monetary Determinants in Analyzing
... recession. Fisher (1993) indicated that inflation decreased economic growth through declining capital in investment, productivity growth and budget deficits. Thus, they concluded that inflation at low level and small deficits were not need for high growth even examining in long periods. Moreover, Kh ...
... recession. Fisher (1993) indicated that inflation decreased economic growth through declining capital in investment, productivity growth and budget deficits. Thus, they concluded that inflation at low level and small deficits were not need for high growth even examining in long periods. Moreover, Kh ...
COMMON MARKET FOR EASTERN AND SOUTHERN AFRICAN
... currencies at fixed rates to either the US dollar or the Euro or a basket of currencies, where the basket is formed from the currencies of major trading or financial partners and weights reflect the geographical distribution of trade, services, or capital flows. Of the 68 countries, 36 and 16 have r ...
... currencies at fixed rates to either the US dollar or the Euro or a basket of currencies, where the basket is formed from the currencies of major trading or financial partners and weights reflect the geographical distribution of trade, services, or capital flows. Of the 68 countries, 36 and 16 have r ...
NBER WORKING PAPER SERIES IS THE U.S. CURRENT ACCOUNT DEFICIT
... “The United States is the only major country proclaiming itself indifferent to its currency value. In countries running persistent current account deficits, governments normally -- indeed must – reduce domestic consumption. But so far, the United States has relied on other countries to adjust their ...
... “The United States is the only major country proclaiming itself indifferent to its currency value. In countries running persistent current account deficits, governments normally -- indeed must – reduce domestic consumption. But so far, the United States has relied on other countries to adjust their ...
Economics of Money, Banking, and Financial Markets, 8e
... 7) If workers believe that government policymakers will increase aggregate demand to avoid a politically unpopular increase in unemployment when workers demand higher wages, then workers will not fear higher unemployment and their wage demands will result in A) demand-pull inflation. B) hyperinflati ...
... 7) If workers believe that government policymakers will increase aggregate demand to avoid a politically unpopular increase in unemployment when workers demand higher wages, then workers will not fear higher unemployment and their wage demands will result in A) demand-pull inflation. B) hyperinflati ...
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... The advent of Bayesian techniques for estimating DSGE models offered the Reserve Bank the opportunity to move from a calibrated model to a model more strongly, and more formally, informed by the data. Computational power and estimation algorithms had also improved to the point that small- and medium ...
... The advent of Bayesian techniques for estimating DSGE models offered the Reserve Bank the opportunity to move from a calibrated model to a model more strongly, and more formally, informed by the data. Computational power and estimation algorithms had also improved to the point that small- and medium ...
The Effects of Monetary Policy on Prices in Malawi
... slowing down of economic activity, through dominant monetary impulses running from interest rates to money (or vice versa) and to real output (Walsh, 2003). Yet, prices and output in Malawi have the potential to be radically influenced by factors outside the control of monetary authorities, such as ...
... slowing down of economic activity, through dominant monetary impulses running from interest rates to money (or vice versa) and to real output (Walsh, 2003). Yet, prices and output in Malawi have the potential to be radically influenced by factors outside the control of monetary authorities, such as ...
NBER WORKING PAPER SERIES PRICE STABILITY Giancarlo Corsetti
... We characterize the optimal cooperative monetary policy under commitment. In order to reduce ine ciencies due to price stickiness, monetary policy does mitigate uctuations in the major components of consumer price in ation. However, it falls short of stabilizing completely either the CPI, or the pr ...
... We characterize the optimal cooperative monetary policy under commitment. In order to reduce ine ciencies due to price stickiness, monetary policy does mitigate uctuations in the major components of consumer price in ation. However, it falls short of stabilizing completely either the CPI, or the pr ...
The Impact of Hedging on Firm Value
... debt denominated in foreign currency, and 20% have subsidiaries abroad, therefore most of the firms show some source of sensibility to fluctuations in the exchange rate. Unlike Allayannis and Weston (2001), the estimation will use all the firms of the sample rather than only the exporter firms given ...
... debt denominated in foreign currency, and 20% have subsidiaries abroad, therefore most of the firms show some source of sensibility to fluctuations in the exchange rate. Unlike Allayannis and Weston (2001), the estimation will use all the firms of the sample rather than only the exporter firms given ...
NBER WORKING PAPER SERIES WHAT DETERMINES EUROPEAN REAL EXCHANGE RATES? Martin Berka
... One of the principal objectives of international macroeconomics is the understanding of international relative prices. Empirical observations over many countries and time periods show very large variations in cross-country relative prices of goods, both when measured for similar goods at the micro l ...
... One of the principal objectives of international macroeconomics is the understanding of international relative prices. Empirical observations over many countries and time periods show very large variations in cross-country relative prices of goods, both when measured for similar goods at the micro l ...
Fiscal Devaluations No. 12-10 Emmanuel Farhi, Gita Gopinath, and Oleg Itskhoki
... When is a reduction in consumption taxes and increase in income taxes required? Without a reduction in consumption taxes, fiscal devaluations result in an appreciated real exchange rate relative to a nominal devaluation. This is because fiscal devaluations, despite having the same effect on internat ...
... When is a reduction in consumption taxes and increase in income taxes required? Without a reduction in consumption taxes, fiscal devaluations result in an appreciated real exchange rate relative to a nominal devaluation. This is because fiscal devaluations, despite having the same effect on internat ...
NBER WORKING PAPER SERIES WHAT DETERMINES EUROPEAN REAL EXCHANGE RATES? Martin Berka
... One of the principal objectives of international macroeconomics is the understanding of international relative prices. Empirical observations over many countries and time periods show very large variations in cross-country relative prices of goods, both when measured for similar goods at the micro l ...
... One of the principal objectives of international macroeconomics is the understanding of international relative prices. Empirical observations over many countries and time periods show very large variations in cross-country relative prices of goods, both when measured for similar goods at the micro l ...
S h o u l d u n c... l e s s ? Chris Salmon and Ben Martin,
... Recently, interest has grown again in interaction between broader forms of uncertainty and monetary policy. At the Bank of England this has been fuelled, in part, by the existence of an inflation target. Inflation targeting can be viewed as analogous to operating policy with an inflation forecast as ...
... Recently, interest has grown again in interaction between broader forms of uncertainty and monetary policy. At the Bank of England this has been fuelled, in part, by the existence of an inflation target. Inflation targeting can be viewed as analogous to operating policy with an inflation forecast as ...
cs/tcm/ccbfm/xiV/5
... thereby reducing overvaluation of their currencies which characterised the 1980s and early 1990s. Exchange rate regimes are quite difficult to classify. A relatively small number are classified as having a “conventional peg” as was the most common arrangement previously. Swaziland is pegged to the S ...
... thereby reducing overvaluation of their currencies which characterised the 1980s and early 1990s. Exchange rate regimes are quite difficult to classify. A relatively small number are classified as having a “conventional peg” as was the most common arrangement previously. Swaziland is pegged to the S ...
Speech - Bank of England
... Good evening. It is a pleasure to be at the LSE and an honour to share the podium with Amartya Sen. Professor Sen is rightly recognised for his many contributions, not least to welfare economics and social choice theory. He has posed, and in many cases answered, some of the most fundamental questio ...
... Good evening. It is a pleasure to be at the LSE and an honour to share the podium with Amartya Sen. Professor Sen is rightly recognised for his many contributions, not least to welfare economics and social choice theory. He has posed, and in many cases answered, some of the most fundamental questio ...
interest rate - Universität Bamberg
... The French case: high debts hoping for German’s reparations, inflation soared after reparations failed. Return to gold standard and devaluation in 1928; undervaluation and beggar-your-neighbour policies protected economy first, but then others retaliate and the currency becomes overvalued, badly h ...
... The French case: high debts hoping for German’s reparations, inflation soared after reparations failed. Return to gold standard and devaluation in 1928; undervaluation and beggar-your-neighbour policies protected economy first, but then others retaliate and the currency becomes overvalued, badly h ...
NBER WORKING PAPER SERIES EXTERNAL ADJUSTMENT AND THE GLOBAL CRISIS
... economies and emerging markets. We find that countries whose pre-crisis current account balances were in excess of what could be explained by standard economic fundamentals have experienced the largest contractions in their external balance. We subsequently examine the contributions of real exchange ...
... economies and emerging markets. We find that countries whose pre-crisis current account balances were in excess of what could be explained by standard economic fundamentals have experienced the largest contractions in their external balance. We subsequently examine the contributions of real exchange ...
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.