PDF
... national central banks and currencies, Europe's monetary union will be characterized by a single central bank and, ultimately, a single currency. Whereas EMU, established by an international treaty, will represent a virtually irrevocable commitment, the gold standard was a contingent rule ...
... national central banks and currencies, Europe's monetary union will be characterized by a single central bank and, ultimately, a single currency. Whereas EMU, established by an international treaty, will represent a virtually irrevocable commitment, the gold standard was a contingent rule ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... by foreign interests, and fish meal paid for imported manufactures. In turn, the government had little direct participation in the economy, and economic activities were largely unregulated. Industrialization by import substitution and government spending in the infrastructure started with the first ...
... by foreign interests, and fish meal paid for imported manufactures. In turn, the government had little direct participation in the economy, and economic activities were largely unregulated. Industrialization by import substitution and government spending in the infrastructure started with the first ...
document
... The BRL, ZAR, KRW, IDR show the highest correlation with market uncertainty and volatility (VIX) while the USD benefits from financial distress and economic turmoil. ...
... The BRL, ZAR, KRW, IDR show the highest correlation with market uncertainty and volatility (VIX) while the USD benefits from financial distress and economic turmoil. ...
Glossary of key terms in international economics
... Covariance A measure of how two variables fluctuate about their means together. Covered return The domestic currency value of a foreign investment when the foreign currency proceeds are sold in the forward market. Crawling peg system The system under which par values or exchange rates are changed by ...
... Covariance A measure of how two variables fluctuate about their means together. Covered return The domestic currency value of a foreign investment when the foreign currency proceeds are sold in the forward market. Crawling peg system The system under which par values or exchange rates are changed by ...
HustedMelvin_c21
... Assumes price level is fixed in short run but flexible in the long run Allows for pricing to market behavior in which firms practice price discrimination across countries ...
... Assumes price level is fixed in short run but flexible in the long run Allows for pricing to market behavior in which firms practice price discrimination across countries ...
High-level Regional Policy Dialogue on
... minorities who are relatively dominant in the economy. The implication of massive capital flight caused a sharp depreciation of the Rupiah. While weak macroeconomic policies did not play a central role in causing the crisis in Indonesia, the pegged exchange rate encoura ...
... minorities who are relatively dominant in the economy. The implication of massive capital flight caused a sharp depreciation of the Rupiah. While weak macroeconomic policies did not play a central role in causing the crisis in Indonesia, the pegged exchange rate encoura ...
PDF
... currencies was fixed. Following its collapse in 1973, economists’ interest shifted towards the impact of exchange rate volatility, especially on trade and investment. In spite of a vast literature on the matter, the effect of floating exchange rates on trade remains controversial (Krugman and Obstfe ...
... currencies was fixed. Following its collapse in 1973, economists’ interest shifted towards the impact of exchange rate volatility, especially on trade and investment. In spite of a vast literature on the matter, the effect of floating exchange rates on trade remains controversial (Krugman and Obstfe ...
Insert title here
... – The Fed serves as a financial agent for the Treasury Department and other government agencies. The Fed sells, transfers, and redeems government securities. Also, the Fed handles funds raised from selling T-bills, T-notes, and Treasury bonds. ...
... – The Fed serves as a financial agent for the Treasury Department and other government agencies. The Fed sells, transfers, and redeems government securities. Also, the Fed handles funds raised from selling T-bills, T-notes, and Treasury bonds. ...
Insert title here
... – The Fed serves as a financial agent for the Treasury Department and other government agencies. The Fed sells, transfers, and redeems government securities. Also, the Fed handles funds raised from selling T-bills, T-notes, and Treasury bonds. ...
... – The Fed serves as a financial agent for the Treasury Department and other government agencies. The Fed sells, transfers, and redeems government securities. Also, the Fed handles funds raised from selling T-bills, T-notes, and Treasury bonds. ...
An International Rule System to Avoid Financial Instability
... loss of confidence among banks in the years 2007-2008 indicate that risk is far from having disappeared. The impact is massive, affecting the US and Europe (Schmidt, Smith and Walter 2008): the collapse of the German Industrie Kreditbank in August 2007; losses at some German state banks; the going u ...
... loss of confidence among banks in the years 2007-2008 indicate that risk is far from having disappeared. The impact is massive, affecting the US and Europe (Schmidt, Smith and Walter 2008): the collapse of the German Industrie Kreditbank in August 2007; losses at some German state banks; the going u ...
This work is licensed under a Creative Commons Atiribiiiion-NonCommercial- NoDerivs 3.0 Licence.
... To get to the "equilibrium" price of foreign exchange one. needs estimates of protection to various activities and'estimates of elasticities of foreign supply and demand for imports and exports of the country in question. Estimates of the undervaluation of foreign exchange due to protection are made ...
... To get to the "equilibrium" price of foreign exchange one. needs estimates of protection to various activities and'estimates of elasticities of foreign supply and demand for imports and exports of the country in question. Estimates of the undervaluation of foreign exchange due to protection are made ...
A Working Solution to the Question of Nominal GDP
... M1 and MZM are drawn from the Federal Reserve Bank of St. Louis’ FRED database; Anderson and Jones (2011) describe their construction in detail. With quite similar results, not shown, we also replicated the analysis using Anderson and Jones’ Divisia M2 series, as well as the much broader, Divisia M ...
... M1 and MZM are drawn from the Federal Reserve Bank of St. Louis’ FRED database; Anderson and Jones (2011) describe their construction in detail. With quite similar results, not shown, we also replicated the analysis using Anderson and Jones’ Divisia M2 series, as well as the much broader, Divisia M ...
Targeting Inflation in Dollarized Economies(2)
... relationship. Using a bivariate VAR model and two different sub-samples (1994:03 – 2004:12 and 1999:01 – 2004:12), we find evidence of Granger causality from the real bilateral exchange rate to nonperforming loans (NPLs) in Peru, but not in Chile (see Figures 5.8a and 5.8b). This is consistent with ...
... relationship. Using a bivariate VAR model and two different sub-samples (1994:03 – 2004:12 and 1999:01 – 2004:12), we find evidence of Granger causality from the real bilateral exchange rate to nonperforming loans (NPLs) in Peru, but not in Chile (see Figures 5.8a and 5.8b). This is consistent with ...
PDF file - AgEcon Search
... by raising the domestic prices of imported goods relative to the price of domestically produced goods, devaluation shifts the demand from imported goods to domestically produced goods. This is what is referred to as the expenditure switching effect of ...
... by raising the domestic prices of imported goods relative to the price of domestically produced goods, devaluation shifts the demand from imported goods to domestically produced goods. This is what is referred to as the expenditure switching effect of ...
Eric Helleiner, The Southern Side of Embedded
... Federal Reserve officials also insisted that central banks be equipped with strong powers to promote the development of their national economies.6 Central banks set up with Kemmerer’s advice had usually been expected to influence the money supply through mechanisms such as discount rate changes and ...
... Federal Reserve officials also insisted that central banks be equipped with strong powers to promote the development of their national economies.6 Central banks set up with Kemmerer’s advice had usually been expected to influence the money supply through mechanisms such as discount rate changes and ...
Monetary Policy Transmission
... The Fed’s choice of policy instrument (which is the same choice as that made by most other major central banks) is a short-term interest rate. Given this choice, the exchange rate and the quantity of money find their own equilibrium values. The specific interest rate that the Fed targets is the fede ...
... The Fed’s choice of policy instrument (which is the same choice as that made by most other major central banks) is a short-term interest rate. Given this choice, the exchange rate and the quantity of money find their own equilibrium values. The specific interest rate that the Fed targets is the fede ...
An investigating Zeros Elimination of the National
... have become millionaires. Therefore, the nostalgia that makes people remember the past memories of their own pockets to pay less money to buy goods however, the positive economic effects of such action to be sure with this action, it should be done side-effective policies such as anti-inflation poli ...
... have become millionaires. Therefore, the nostalgia that makes people remember the past memories of their own pockets to pay less money to buy goods however, the positive economic effects of such action to be sure with this action, it should be done side-effective policies such as anti-inflation poli ...
LCcarG715_en.pdf
... seen as the outcome of the interaction of flow supplies and demands. Alternatively, it may be determined like an asset in the sense that “its present value depends on expected future returns to holding assets valued in home or foreign money” (Eatwell and Taylor, 2000, p. 62). In the first case, the ...
... seen as the outcome of the interaction of flow supplies and demands. Alternatively, it may be determined like an asset in the sense that “its present value depends on expected future returns to holding assets valued in home or foreign money” (Eatwell and Taylor, 2000, p. 62). In the first case, the ...
REAL VERSUS NOMINAL CONVERGENCE IN ROMANIA
... this evolution in the future. The quasi-fiscal deficits and high public expenditures which must be budgeted in the future oblige to maintain the present public deficit in more close limits than the ones set by the Maastricht Treaty. There are also criteria where Romania’s position is not that comfor ...
... this evolution in the future. The quasi-fiscal deficits and high public expenditures which must be budgeted in the future oblige to maintain the present public deficit in more close limits than the ones set by the Maastricht Treaty. There are also criteria where Romania’s position is not that comfor ...
Capital Account Liberalisation and China`s Effect on Global Capital
... types of private capital flows – direct, portfolio investment and other – have been liberalised at different rates and restrictions on inflows have generally been eased before those on outflows. Despite formal restrictions, leakages have increased. Foreign direct investment (FDI) has dominated capit ...
... types of private capital flows – direct, portfolio investment and other – have been liberalised at different rates and restrictions on inflows have generally been eased before those on outflows. Despite formal restrictions, leakages have increased. Foreign direct investment (FDI) has dominated capit ...
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.