Regional Monetary Arrangements
... Monetary arrangements have a lot to do with the degree of economic integration. But there are no straightforward ‘laws’ about the degree and depth of regional (economic) integration in the global political economy. Bela Balassa (1962) set out a logical roadmap which places a regional monetary arrang ...
... Monetary arrangements have a lot to do with the degree of economic integration. But there are no straightforward ‘laws’ about the degree and depth of regional (economic) integration in the global political economy. Bela Balassa (1962) set out a logical roadmap which places a regional monetary arrang ...
Outline
... answering short questions related to course readings, especially those about to be covered in class. You are encouraged to work with your classmates, and may give answers in groups of three or less. 2. Two short reports, due March 12 and April 16: Class participants will be asked to work through two ...
... answering short questions related to course readings, especially those about to be covered in class. You are encouraged to work with your classmates, and may give answers in groups of three or less. 2. Two short reports, due March 12 and April 16: Class participants will be asked to work through two ...
Changes in the investor base for Emerging Market public debt: What
... investors to manage their asset portfolios passively tracking the index, or, actively using the index as a performance benchmark. Institutional investors typically use indices to manage their exposures (see appendix for a list of indices in the EM debt space), therefore creating demand for countries ...
... investors to manage their asset portfolios passively tracking the index, or, actively using the index as a performance benchmark. Institutional investors typically use indices to manage their exposures (see appendix for a list of indices in the EM debt space), therefore creating demand for countries ...
Transmission of the Great Depression
... fared worse in the Depression than those without them. They took bank panics as exogenous in their econometric work, although they noted that banking panics in the Depression were a phenomenon of countries on the gold standard. Central banks in gold-standard countries were limited as lenders of last ...
... fared worse in the Depression than those without them. They took bank panics as exogenous in their econometric work, although they noted that banking panics in the Depression were a phenomenon of countries on the gold standard. Central banks in gold-standard countries were limited as lenders of last ...
The exchange rate effect of multi-currency risk arbitrage
... allows for a clear identification of the speculators' optimal positionsdincluding hedging demands. In December 2000, the most important provider of international equity indices, Morgan Stanley Capital Inc. (MSCI), announced publicly that it would substantially alter the composition of its global equi ...
... allows for a clear identification of the speculators' optimal positionsdincluding hedging demands. In December 2000, the most important provider of international equity indices, Morgan Stanley Capital Inc. (MSCI), announced publicly that it would substantially alter the composition of its global equi ...
Nominal Exchange Rates
... to its equilibrium, there is no need for intervention. • Any current account imbalance is exactly matched by an offsetting balance in capital/financial accounts. • If there is intervention, it is recorded as part of the financial account. ©The McGraw-Hill Companies, 2008 ...
... to its equilibrium, there is no need for intervention. • Any current account imbalance is exactly matched by an offsetting balance in capital/financial accounts. • If there is intervention, it is recorded as part of the financial account. ©The McGraw-Hill Companies, 2008 ...
the political economy of international monetary relations
... national currency is valued in foreign currencies. The exchange rate may itself be a target for policy, with a definite rate being set, or a clearly observable formula applied. Alternatively, the exchange rate may be actively managed, in conjunction with other components of monetary policy. Some go ...
... national currency is valued in foreign currencies. The exchange rate may itself be a target for policy, with a definite rate being set, or a clearly observable formula applied. Alternatively, the exchange rate may be actively managed, in conjunction with other components of monetary policy. Some go ...
Vehicle Currency Use in International Trade
... In which currency should exporters set the price of their goods? When selling to a foreign market, an exporting firm has three options. It can invoice the transaction in its own currency (producer’s currency pricing, PCP), in the currency of the destination country (local currency pricing, LCP), in ...
... In which currency should exporters set the price of their goods? When selling to a foreign market, an exporting firm has three options. It can invoice the transaction in its own currency (producer’s currency pricing, PCP), in the currency of the destination country (local currency pricing, LCP), in ...
Currency Contracts, Pass-Through, and Devaluation
... balance in 1971. Large movements of short-term capital also occurred as anxiety over the dollar increased. The result was imposition of an import surcharge and suspension of gold convertibility by the United States on August 15, 1971. Throughout the fall of 1971, the dollar depreciated on foreign ex ...
... balance in 1971. Large movements of short-term capital also occurred as anxiety over the dollar increased. The result was imposition of an import surcharge and suspension of gold convertibility by the United States on August 15, 1971. Throughout the fall of 1971, the dollar depreciated on foreign ex ...
International Coordination
... phased out -- provoked another sort of complaint from Indian Central Bank Governor Raghuram Rajan: “International monetary cooperation has broken down…The U.S. should worry about the effects of its policies on the rest of the world” (1/30/14). The monetary part of this paper considers both kinds of ...
... phased out -- provoked another sort of complaint from Indian Central Bank Governor Raghuram Rajan: “International monetary cooperation has broken down…The U.S. should worry about the effects of its policies on the rest of the world” (1/30/14). The monetary part of this paper considers both kinds of ...
The Effect of Exchange Rates on Statistical Decisions Author(s
... The important point to learn from example 4 is that the relative values of losses on disjoint events are hopelessly confounded with the probabilities of those events. It is meaningless to compare the numerical values of the losses that arise on different events without reference to the probabilities ...
... The important point to learn from example 4 is that the relative values of losses on disjoint events are hopelessly confounded with the probabilities of those events. It is meaningless to compare the numerical values of the losses that arise on different events without reference to the probabilities ...
Currency
A currency (from Middle English: curraunt, ""in circulation"", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.Other definitions of the term ""currency"" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency arose with the popularity of computers and the Internet.