report - Standard Chartered Bank
... more balanced. The number of ‘up’ arrows, indicating a rapid rise in leverage metrics, has also declined significantly. Asia’s generally low household debt levels present opportunities for further credit extension. While policy makers in many countries have expressed concerns over corporate debt, th ...
... more balanced. The number of ‘up’ arrows, indicating a rapid rise in leverage metrics, has also declined significantly. Asia’s generally low household debt levels present opportunities for further credit extension. While policy makers in many countries have expressed concerns over corporate debt, th ...
ESLA1994-1995_en.pdf
... Source: ECLAC, on the basis of official figures. * The figures given for the gross domestic product and the population correspond to the countries appearing in table 1-2 (except Cuba), while those given for consumer prices refer to the countries listed in table 1-4. The data concerning gi oss nation ...
... Source: ECLAC, on the basis of official figures. * The figures given for the gross domestic product and the population correspond to the countries appearing in table 1-2 (except Cuba), while those given for consumer prices refer to the countries listed in table 1-4. The data concerning gi oss nation ...
the arab republic of egypt
... The Issuer accepts responsibility for the information contained in this Prospectus. To the best of the knowledge and belief of the Issuer (having made all reasonable enquiries and having taken all reasonable care to ensure that such is the case) the information contained in this Prospectus is in acc ...
... The Issuer accepts responsibility for the information contained in this Prospectus. To the best of the knowledge and belief of the Issuer (having made all reasonable enquiries and having taken all reasonable care to ensure that such is the case) the information contained in this Prospectus is in acc ...
The Employment Cost of Sovereign Default
... the vast literature on financial frictions, labor frictions and the interaction between the two. Following the original default framework of Eaton and Gersovitz (1981), recent papers study the quantitative dynamics of sovereign defaults. Arellano (2008) and Aguiar and Gopinath (2006) analyze soverei ...
... the vast literature on financial frictions, labor frictions and the interaction between the two. Following the original default framework of Eaton and Gersovitz (1981), recent papers study the quantitative dynamics of sovereign defaults. Arellano (2008) and Aguiar and Gopinath (2006) analyze soverei ...
Responding to Shocks and Maintaining Stability in the West
... macroeconomic shocks.1 A symmetric shock—that is, a shock affecting similarly all members of a monetary union—can in principle be addressed by the common monetary policy or by a coordinated fiscal policy response. Monetary policy, however, cannot address an asymmetric shock, for which a (national) f ...
... macroeconomic shocks.1 A symmetric shock—that is, a shock affecting similarly all members of a monetary union—can in principle be addressed by the common monetary policy or by a coordinated fiscal policy response. Monetary policy, however, cannot address an asymmetric shock, for which a (national) f ...
A Financial Optimization Approach to Quantitative
... strategies in a great number of simulated futures. This approach has a number of drawbacks, which might be handled by using a financial optimization approach based on Stochastic Programming. The objective of this master’s thesis is thus to apply financial optimization on the Swedish government’s str ...
... strategies in a great number of simulated futures. This approach has a number of drawbacks, which might be handled by using a financial optimization approach based on Stochastic Programming. The objective of this master’s thesis is thus to apply financial optimization on the Swedish government’s str ...
Demand for and Adequacy of International Reserves
... countries, there had been a growing consensus that the reserve levels of many Asian countries now far exceed all plausible estimates of what they need for liquidity purposes, or in other words, the reserve levels are substantially above optimal levels (Park and Estrada, 2009). Hence, particularly du ...
... countries, there had been a growing consensus that the reserve levels of many Asian countries now far exceed all plausible estimates of what they need for liquidity purposes, or in other words, the reserve levels are substantially above optimal levels (Park and Estrada, 2009). Hence, particularly du ...
ESSENTIALS OF INTERNATIONAL ECONOMICS:
... international monetary and financial sphere as an independent phenomenon, which is not connected directly with the external trade and the international factor flows ...
... international monetary and financial sphere as an independent phenomenon, which is not connected directly with the external trade and the international factor flows ...
S0600919_en.pdf
... covered in this report; for purposes of comparison between countries, however, these statistics are expressed in constant 2000 dollars. Thus, in some cases there may be apparent discrepancies with the information issued by individual countries. ...
... covered in this report; for purposes of comparison between countries, however, these statistics are expressed in constant 2000 dollars. Thus, in some cases there may be apparent discrepancies with the information issued by individual countries. ...
Portugal: Ex Post Evaluation of Exceptional Access Under the
... program aimed to address the problems that had made Portugal vulnerable to changes in market confidence. It sought to strengthen growth by improving competitiveness, secure fiscal sustainability, and bring Portugal’s large private sector debt under control. The program was a qualified success. The c ...
... program aimed to address the problems that had made Portugal vulnerable to changes in market confidence. It sought to strengthen growth by improving competitiveness, secure fiscal sustainability, and bring Portugal’s large private sector debt under control. The program was a qualified success. The c ...
colgate-palmolive company
... practices, local statutory requirements and, in certain cases, voluntary termination arrangements. Employee-Related Costs also include pension and other retiree benefit enhancements amounting to $8 for the three months ended March 31, 2015 , which are reflected as Charges against assets within Emplo ...
... practices, local statutory requirements and, in certain cases, voluntary termination arrangements. Employee-Related Costs also include pension and other retiree benefit enhancements amounting to $8 for the three months ended March 31, 2015 , which are reflected as Charges against assets within Emplo ...
Exchange Rates and the Foreign Exchange Market: An Asset
... n the first years of the millennium, Americans flocked to Paris to enjoy French cuisine while shopping for designer clothing and other specialties. When measured in terms of dollars, prices in France were so much lower than they had been a few years before that a shopper’s savings could offset the c ...
... n the first years of the millennium, Americans flocked to Paris to enjoy French cuisine while shopping for designer clothing and other specialties. When measured in terms of dollars, prices in France were so much lower than they had been a few years before that a shopper’s savings could offset the c ...
Real Effects of Inflation through the Redistribution
... similar in spirit to ours: what would be the present value change in the government budget, as of 1994, if there was a permanent 10 percentage point increase in inflation? They find a sizeable effect, about as large as 1994 GDP. However, most of this effect is accounted for by incomplete indexation ...
... similar in spirit to ours: what would be the present value change in the government budget, as of 1994, if there was a permanent 10 percentage point increase in inflation? They find a sizeable effect, about as large as 1994 GDP. However, most of this effect is accounted for by incomplete indexation ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Reducing Inflation: Motivation and Strategy
... discussed in section 3.2 implies that the likely cost of reducing inflation from 2% to zero is equal to between 4% and 6% of the initial GDP. Even using the upper limit of 6% implies that the benefits of disinflation outweigh the costs if the annual benefit of lower inflation exceeds x* = 6.0/38.5 = ...
... discussed in section 3.2 implies that the likely cost of reducing inflation from 2% to zero is equal to between 4% and 6% of the initial GDP. Even using the upper limit of 6% implies that the benefits of disinflation outweigh the costs if the annual benefit of lower inflation exceeds x* = 6.0/38.5 = ...
The Impact of Higher Interest Rates on the Cost of Servicing
... Many analysts believe that interest rates will begin to rise in 2015–16 in the United States, which would put upward pressure on Canadian rates.4 Although the medium-term budget outlooks of the federal and provincial governments do factor in an expected increase in interest rates, the rates are assu ...
... Many analysts believe that interest rates will begin to rise in 2015–16 in the United States, which would put upward pressure on Canadian rates.4 Although the medium-term budget outlooks of the federal and provincial governments do factor in an expected increase in interest rates, the rates are assu ...
An Assessment of Reserve Adequacy in Caribbean Economies
... ratio, the greater the confidence in the domestic currency, especially under a fixed exchange rate regime. This indicator is especially relevant if money demand is not stable and financial systems are weak (Sehgal and Sharma, 2008). The difficulties in measuring capital flight have resulted in a lac ...
... ratio, the greater the confidence in the domestic currency, especially under a fixed exchange rate regime. This indicator is especially relevant if money demand is not stable and financial systems are weak (Sehgal and Sharma, 2008). The difficulties in measuring capital flight have resulted in a lac ...
S0701051_en.pdf
... The national accounts data presented in this edition of the Overview are based on the official figures issued by the countries covered in this report; for purposes of comparison between countries, however, these statistics are expressed in constant 2000 dollars. Thus, in some cases there may be app ...
... The national accounts data presented in this edition of the Overview are based on the official figures issued by the countries covered in this report; for purposes of comparison between countries, however, these statistics are expressed in constant 2000 dollars. Thus, in some cases there may be app ...
Progress Report on Inclusion of Enhanced Contractual Provisions in
... The enhanced CAC endorsed by the Executive Board includes a “single-limb” aggregated voting procedure designed to limit the ability of holdout creditors to undermine a restructuring. A “single limb” voting procedure enables bonds to be restructured on the basis of a single vote across all instrument ...
... The enhanced CAC endorsed by the Executive Board includes a “single-limb” aggregated voting procedure designed to limit the ability of holdout creditors to undermine a restructuring. A “single limb” voting procedure enables bonds to be restructured on the basis of a single vote across all instrument ...
Funding Strategies of Sovereign Debt Management: A Risk
... Guidelines for Public Debt Management published by the IMF and the World Bank in 2001: “The main objective of public debt management is to ensure that the government’s financing needs and its payment obligations are met at the lowest possible cost over the medium to long run, consistent with a prude ...
... Guidelines for Public Debt Management published by the IMF and the World Bank in 2001: “The main objective of public debt management is to ensure that the government’s financing needs and its payment obligations are met at the lowest possible cost over the medium to long run, consistent with a prude ...
Global Financial Markets and Instruments
... Globalization of trade implies ‗universalisation of the process of trade‘. In 1990, increased openness to international trade, under such headings as, ―outward orientation‖ or ―trade liberalization‖ has been advocated as an engine of economic growth and a road to development. The marginalization of ...
... Globalization of trade implies ‗universalisation of the process of trade‘. In 1990, increased openness to international trade, under such headings as, ―outward orientation‖ or ―trade liberalization‖ has been advocated as an engine of economic growth and a road to development. The marginalization of ...
Hedging and Speculating with Interest Rate Swaps
... been trying to improve our understanding of how firms use derivatives.1 The identifying assumption in nearly all of this literature has been that firms use derivatives for hedging. Thus, firm characteristics correlated with derivatives usage are interpreted as capturing the costs and benefits of hed ...
... been trying to improve our understanding of how firms use derivatives.1 The identifying assumption in nearly all of this literature has been that firms use derivatives for hedging. Thus, firm characteristics correlated with derivatives usage are interpreted as capturing the costs and benefits of hed ...
NBER WORKING PAPER SERIES INTERNATIONAL RESERVE HOLDINGS WITH Joshua Aizenman
... in international financial markets and faced new challenges. In the aftermath of the 199798 Asian financial crises, some observers have called on emerging markets to reduce short-term external debt relative to international reserve holdings in order to lower their vulnerability to crisis. Countries ...
... in international financial markets and faced new challenges. In the aftermath of the 199798 Asian financial crises, some observers have called on emerging markets to reduce short-term external debt relative to international reserve holdings in order to lower their vulnerability to crisis. Countries ...
IMF Staff Report 2016 Article IV Consultation Curacao and Sint
... countries within the Kingdom of the Netherlands, and considered and endorsed the staff appraisal without a meeting.1,2 The currency union of Curaçao and Sint Maarten has important strengths, including a high level of development, good infrastructure, and relatively low public debt, however, preservi ...
... countries within the Kingdom of the Netherlands, and considered and endorsed the staff appraisal without a meeting.1,2 The currency union of Curaçao and Sint Maarten has important strengths, including a high level of development, good infrastructure, and relatively low public debt, however, preservi ...
NBER WORKING PAPER SERIES INDIA’S EXPERIENCE WITH CAPITAL FLOWS: CURRENT ACCOUNT DEFICIT
... controls applicable on debt flows, and changing currency expectations. Through these policy initiatives, gross flows on the capital account grew from 15% of GDP in 1992-93 to 20% of GDP in 2003-04, along with sharp changes in the composition of flows. In 2003-04, gross portfolio flows amounted to as ...
... controls applicable on debt flows, and changing currency expectations. Through these policy initiatives, gross flows on the capital account grew from 15% of GDP in 1992-93 to 20% of GDP in 2003-04, along with sharp changes in the composition of flows. In 2003-04, gross portfolio flows amounted to as ...
AVVISO n. 198
... nominal annual interest rate in peso-denominated time deposits of more than Ps. 1.0 million from 30 to 35 days. ...
... nominal annual interest rate in peso-denominated time deposits of more than Ps. 1.0 million from 30 to 35 days. ...