From Closed to Open Economy Macroeconomics: The Real Exchange Rate and Capital Inflows India 1981-1994
... (PPP) and corrects ...
... (PPP) and corrects ...
(IS) Y
... Xn = Exports minus imports 6.1 Exports, X: A country exports domestic goods and services X = Xo Autonomous exports, constant Gross exports are exogenous, largely determined by the level of income in foreign countries. HUỲNH VĂN THỊNH [email protected] ...
... Xn = Exports minus imports 6.1 Exports, X: A country exports domestic goods and services X = Xo Autonomous exports, constant Gross exports are exogenous, largely determined by the level of income in foreign countries. HUỲNH VĂN THỊNH [email protected] ...
On Target? The International Experience with Achieving
... anchor and by the clarity of the commitment to this anchor. Exchange rate anchor regimes are clearly different. But full-fledged inflation targeting is also different from two other inflation-based regimes. First, there is what has been termed a “just do it” (Mishkin, 2000) or “implicit price stabil ...
... anchor and by the clarity of the commitment to this anchor. Exchange rate anchor regimes are clearly different. But full-fledged inflation targeting is also different from two other inflation-based regimes. First, there is what has been termed a “just do it” (Mishkin, 2000) or “implicit price stabil ...
FOCUS - Piazza
... from MIT in 1977. He taught at Harvard from 1977 to 1982 and has taught at MIT since 1983. He has frequently received the award for best teacher in the department of economics. He is currently on leave from MIT and serves as the Chief Economist at the International Monetary Fund. He has done researc ...
... from MIT in 1977. He taught at Harvard from 1977 to 1982 and has taught at MIT since 1983. He has frequently received the award for best teacher in the department of economics. He is currently on leave from MIT and serves as the Chief Economist at the International Monetary Fund. He has done researc ...
Bid-ask spread components on the foreign exchange market: The
... This thesis is written in order to obtain my second master’s degree in Business Engineering with a major in Finance. The subject was chosen because it had so many different elements in it which could provide me with the necessary variation during the whole period I worked on it and because I have a ...
... This thesis is written in order to obtain my second master’s degree in Business Engineering with a major in Finance. The subject was chosen because it had so many different elements in it which could provide me with the necessary variation during the whole period I worked on it and because I have a ...
P o l i c y Ta r... R e s e r v e B...
... indistinguishable in terms of their implications for trend ...
... indistinguishable in terms of their implications for trend ...
Exchange Rate Predictability in a Changing World
... that even when an unobservable is responsible for the actual change, it is common to attribute it to an observable macro variable or the scapegoat. Subsequently, this scapegoat variable influences trading behaviour and the exchange rate. Over time, fluctuations in exchange rates are then explained b ...
... that even when an unobservable is responsible for the actual change, it is common to attribute it to an observable macro variable or the scapegoat. Subsequently, this scapegoat variable influences trading behaviour and the exchange rate. Over time, fluctuations in exchange rates are then explained b ...
c Copyright by Amrita Dhar May 2016
... business cycles in U.S. GDP, to characterize capital flow episodes for a sample of emerging markets. This nonlinear model captures switches between different regimes and characterizes average flows in each regime. I use a three state Markov-switching model allowing the mean of the magnitude of the ...
... business cycles in U.S. GDP, to characterize capital flow episodes for a sample of emerging markets. This nonlinear model captures switches between different regimes and characterizes average flows in each regime. I use a three state Markov-switching model allowing the mean of the magnitude of the ...
MultiFractality in Foreign Currency Markets
... The standard hypothesis concerning the behavior of asset returns states that they follow a random walk in discrete time or a Brownian motion in continuous time. The Brownian motion process is characterized by a quantity, called the Hurst exponent, which is related to some fractal aspects of the proc ...
... The standard hypothesis concerning the behavior of asset returns states that they follow a random walk in discrete time or a Brownian motion in continuous time. The Brownian motion process is characterized by a quantity, called the Hurst exponent, which is related to some fractal aspects of the proc ...
No.333 / July 2010 IIIS Discussion Paper No. 333
... generally, borrowing countries suffered also through the dependence on external bond financing, because financial intermediaries, such as hedge funds, which were important investors in portfolio instruments were forced to reduce leverage because of withdrawals. Measures of gross and net external deb ...
... generally, borrowing countries suffered also through the dependence on external bond financing, because financial intermediaries, such as hedge funds, which were important investors in portfolio instruments were forced to reduce leverage because of withdrawals. Measures of gross and net external deb ...
Currency Devaluations And Implications Of The
... rate. This gives rise to the need of developing economic models which can be used to explore the relative size of the competing effects that follow from devaluations. Since the major portion of this thesis involves the effects of devaluations on demand and supply sides of the economy, caused by the ...
... rate. This gives rise to the need of developing economic models which can be used to explore the relative size of the competing effects that follow from devaluations. Since the major portion of this thesis involves the effects of devaluations on demand and supply sides of the economy, caused by the ...
The Currency Market and its Satellites
... Also US traders still do this; so they use unnatural one for e.g. CHF but natural quote for GBP etc ...
... Also US traders still do this; so they use unnatural one for e.g. CHF but natural quote for GBP etc ...
Inflation targeting, economic performance, and income distribution: a
... Inflation targeting has become today a fashionable monetary policy strategy in a number of countries. Indeed, since the adoption of inflation targeting in New Zealand in 1990, a host of countries have adopted an inflation targeting regime. This regime and the relevant monetary policy strategy gravit ...
... Inflation targeting has become today a fashionable monetary policy strategy in a number of countries. Indeed, since the adoption of inflation targeting in New Zealand in 1990, a host of countries have adopted an inflation targeting regime. This regime and the relevant monetary policy strategy gravit ...
Accounting for Real Exchange Rates using Micro
... exported and items which are produced only for domestic consumption. The literature refers to items in the …rst two categories as traded goods and items in the last category as non-traded goods. The use of the term goods is misleading in the sense that some services are traded and some goods are not ...
... exported and items which are produced only for domestic consumption. The literature refers to items in the …rst two categories as traded goods and items in the last category as non-traded goods. The use of the term goods is misleading in the sense that some services are traded and some goods are not ...
Arbitrage in the foreign exchange market
... the same as the foreign lending (borrowing) interest rate when the latter is adjusted to fully hedge for exchange rate risk. Following Deardoff (1979), a number of studies refer to this LOP condition to describe the absence of ‘one-way arbitrage’, in the form of ‘owner arbitrage’ and ‘borrower arbit ...
... the same as the foreign lending (borrowing) interest rate when the latter is adjusted to fully hedge for exchange rate risk. Following Deardoff (1979), a number of studies refer to this LOP condition to describe the absence of ‘one-way arbitrage’, in the form of ‘owner arbitrage’ and ‘borrower arbit ...
Inflation Targeting in Transition Economies Experience and Prospects
... is, control inflation—rather than on what it cannot do through monetary policy—for example, raise output growth, lower unemployment, or increase external competitiveness. How well were the transition economies prepared for the introduction of inflation targeting? In the literature, a relatively long ...
... is, control inflation—rather than on what it cannot do through monetary policy—for example, raise output growth, lower unemployment, or increase external competitiveness. How well were the transition economies prepared for the introduction of inflation targeting? In the literature, a relatively long ...
How Independent Should a Central Bank Be?
... The rate of inflation in the consumer price index over the past three years has been low and stable, averaging 2.8 percent and never exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemploym ...
... The rate of inflation in the consumer price index over the past three years has been low and stable, averaging 2.8 percent and never exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemploym ...
Regional monetary integration in the member states of the Gulf
... member states, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). This paper focuses on selected macroeconomic and institutional issues and key policy choices which are likely to arise in the GCC’s process of monetary integration. It does not however assess the pot ...
... member states, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). This paper focuses on selected macroeconomic and institutional issues and key policy choices which are likely to arise in the GCC’s process of monetary integration. It does not however assess the pot ...
Three Essays on the Impacts of Risk and Uncertainty on Foreign
... 3% o f world FDI inflows while all other regions experienced a significant increase (WIR , 2005). In general, FDI to African countries still remains small when compared to other developing regions despite the fact that Africa has the highest rate o f return on investment when compared to other deve ...
... 3% o f world FDI inflows while all other regions experienced a significant increase (WIR , 2005). In general, FDI to African countries still remains small when compared to other developing regions despite the fact that Africa has the highest rate o f return on investment when compared to other deve ...
Robert Barro and Jong-Wha Lee IMF Programs: Who Is Chosen and What Are the Effects? (Second IMF Research Conference).
... analogous variables for other important countries, such as France, Germany and the United Kingdom, but find no additional effects.) We find that, as an international organization influenced by the dominating power of the United States, the IMF apparently takes politics into account when making decis ...
... analogous variables for other important countries, such as France, Germany and the United Kingdom, but find no additional effects.) We find that, as an international organization influenced by the dominating power of the United States, the IMF apparently takes politics into account when making decis ...
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.