Political Institutions and Exchange-Rate
... choice of de facto exchange-rate regimes typically tell us only how policy-makers behave in normal times. An equally important question is how the authorities behave when market pressure on their currency makes the maintenance of exchange-rate stability increasingly difficult and costly. It is during ...
... choice of de facto exchange-rate regimes typically tell us only how policy-makers behave in normal times. An equally important question is how the authorities behave when market pressure on their currency makes the maintenance of exchange-rate stability increasingly difficult and costly. It is during ...
A Guide to the London Precious Metals Markets
... Delivery List for Platinum and Palladium Plates and Ingots, which is available on the LPPM website. Loco London is a concept that is perhaps the most important aspect of the London bullion market as it represents the basis for international trading and settlement in gold and silver. As with London G ...
... Delivery List for Platinum and Palladium Plates and Ingots, which is available on the LPPM website. Loco London is a concept that is perhaps the most important aspect of the London bullion market as it represents the basis for international trading and settlement in gold and silver. As with London G ...
London Precious Metals Markets Guide
... Delivery List for Platinum and Palladium Plates and Ingots, which is available on the LPPM website. Loco London is a concept that is perhaps the most important aspect of the London bullion market as it represents the basis for international trading and settlement in gold and silver. As with London G ...
... Delivery List for Platinum and Palladium Plates and Ingots, which is available on the LPPM website. Loco London is a concept that is perhaps the most important aspect of the London bullion market as it represents the basis for international trading and settlement in gold and silver. As with London G ...
OTC guide - London Bullion Market Association
... Delivery List for Platinum and Palladium Plates and Ingots, which is available on the LPPM website. Loco London is a concept that is perhaps the most important aspect of the London bullion market as it represents the basis for international trading and settlement in gold and silver. As with London G ...
... Delivery List for Platinum and Palladium Plates and Ingots, which is available on the LPPM website. Loco London is a concept that is perhaps the most important aspect of the London bullion market as it represents the basis for international trading and settlement in gold and silver. As with London G ...
NBER WORKING PAPER SERIES THE U.S. CURRENT ACCOUNT DEFICIT Charles Engel
... country. A household could, for example, have a home bias in consumption, in which it gives greater weight in preferences to goods produced in its own country. There could be nontraded goods, so that only home-country households consume home-country ...
... country. A household could, for example, have a home bias in consumption, in which it gives greater weight in preferences to goods produced in its own country. There could be nontraded goods, so that only home-country households consume home-country ...
2.07 Clearing Rules Cash Market
... executed pursuant to the detailed provisions of the Business Terms of CCP.A exclusively between CCP.A and the respective clearing member (direct clearing member or general clearing member) that is the contractual partner for one of these transactions. (3) Should an exchange member not be authorized ...
... executed pursuant to the detailed provisions of the Business Terms of CCP.A exclusively between CCP.A and the respective clearing member (direct clearing member or general clearing member) that is the contractual partner for one of these transactions. (3) Should an exchange member not be authorized ...
Inflation Report 1/2003
... and the krone exchange rate depreciates in line with the forward exchange rate. A further fall in interest rates may fuel optimism and increase household purchasing power. This might hold up consumption growth. A weaker krone will probably reduce the extent of downscaling in the internationally expo ...
... and the krone exchange rate depreciates in line with the forward exchange rate. A further fall in interest rates may fuel optimism and increase household purchasing power. This might hold up consumption growth. A weaker krone will probably reduce the extent of downscaling in the internationally expo ...
NBER WORKING PAPER SERIES EXPLAINING DEVIATIONS FROM UNCOVERED INTEREST PARITY Robert E. Cumby
... forward speculation. We consider the U.S. dollar relative to five currencies, the U.K. pound sterling, Deutsche mark, Canadian dollar, Swiss franc, and French franc, over the period January 1974 to December 1986. ...
... forward speculation. We consider the U.S. dollar relative to five currencies, the U.K. pound sterling, Deutsche mark, Canadian dollar, Swiss franc, and French franc, over the period January 1974 to December 1986. ...
Initiative for Policy Dialogue Working Paper Series Resilience
... large capital outflows through a mix of nominal depreciation, reserve loss, and higher interest rates. While measures of foreign exchange pressure are frequently used to capture these effects during crises and to define crisis episodes as periods when such pressure is above a certain threshold (see ...
... large capital outflows through a mix of nominal depreciation, reserve loss, and higher interest rates. While measures of foreign exchange pressure are frequently used to capture these effects during crises and to define crisis episodes as periods when such pressure is above a certain threshold (see ...
Monetary Policy Rules for Managing Aid Surges in Africa
... facing government that reflects the ‘imperfectly open’ capital account structures pervasive in much of Sub-Saharan Africa. Thus, the private sector engages in currency substitution but neither it nor the public sector has direct access to world capital markets. Hence, domestic government debt, which ...
... facing government that reflects the ‘imperfectly open’ capital account structures pervasive in much of Sub-Saharan Africa. Thus, the private sector engages in currency substitution but neither it nor the public sector has direct access to world capital markets. Hence, domestic government debt, which ...
The Real Sterling Crisis
... economy. • Far from panicking about the lower pound, the UK authorities should be concerning themselves with the question of how they can ensure that the pound continues to trade at a competitive level in the future. • The exchange rate of the pound is vital to the success and health of the UK econo ...
... economy. • Far from panicking about the lower pound, the UK authorities should be concerning themselves with the question of how they can ensure that the pound continues to trade at a competitive level in the future. • The exchange rate of the pound is vital to the success and health of the UK econo ...
International Macroeconomics1
... Though conceptually important, capital-account transactions are believed to be generally small in the U.S. accounts. However, they are important to other countries. For instance, in July 2007 the U.S. Treasury Department announced that the United States, Germany, and Russia will provide debt relief ...
... Though conceptually important, capital-account transactions are believed to be generally small in the U.S. accounts. However, they are important to other countries. For instance, in July 2007 the U.S. Treasury Department announced that the United States, Germany, and Russia will provide debt relief ...
CHAPTER 14—EXCHANGE-RATE ADJUSTMENTS AND THE
... 47. The Marshall-Lerner condition suggests that depreciation of the franc leads to a worsening of France's trade account if the: a. Elasticity of demand for French exports is 0.4 while the French elasticity of demand for imports is 0.2 b. Elasticity of demand for French exports is 0.6 while the Fren ...
... 47. The Marshall-Lerner condition suggests that depreciation of the franc leads to a worsening of France's trade account if the: a. Elasticity of demand for French exports is 0.4 while the French elasticity of demand for imports is 0.2 b. Elasticity of demand for French exports is 0.6 while the Fren ...
Non-Wasteful Government Spending in an Estimated Open
... tend to suggest a non-wasteful nature of government spending. Kawaguchi et al. (2009) …nd a positive externality of public capital in Japan. Okubo (2008) concludes that the relationship between private and public consumption in Japan is not a substitute, which is consistent with the early …ndings b ...
... tend to suggest a non-wasteful nature of government spending. Kawaguchi et al. (2009) …nd a positive externality of public capital in Japan. Okubo (2008) concludes that the relationship between private and public consumption in Japan is not a substitute, which is consistent with the early …ndings b ...
Is Mercosur an Optimal Currency Area? A shock correlation
... In the first place, it could be the case that deeper economic integration makes the productive structures more similar, reducing the possible asymmetry of shocks. We show that the increase in intra-industry trade among countries in the region supports that view. Additionally, despite we do not know ...
... In the first place, it could be the case that deeper economic integration makes the productive structures more similar, reducing the possible asymmetry of shocks. We show that the increase in intra-industry trade among countries in the region supports that view. Additionally, despite we do not know ...
Chapter 10 8e SM
... there is an adverse (inflationary) impact on the debt to equity ratio. Companies with restrictive debt covenants requiring them to stay below a maximum debt to equity ratio, may find it necessary to hedge their balance sheet exposure so as to avoid negative translation adjustments being reported. If ...
... there is an adverse (inflationary) impact on the debt to equity ratio. Companies with restrictive debt covenants requiring them to stay below a maximum debt to equity ratio, may find it necessary to hedge their balance sheet exposure so as to avoid negative translation adjustments being reported. If ...
Purchasing power parity
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Purchasing power parity (PPP) is a component of some economic theories and is a technique used to determine the relative value of different currencies.Theories that invoke purchasing power parity assume that in some circumstances (for example, as a long-run tendency) it would cost exactly the same number of, say, US dollars to buy euros and then to use the proceeds to buy a market basket of goods as it would cost to use those dollars directly in purchasing the market basket of goods.The concept of purchasing power parity allows one to estimate what the exchange rate between two currencies would have to be in order for the exchange to be at par with the purchasing power of the two countries' currencies. Using that PPP rate for hypothetical currency conversions, a given amount of one currency thus has the same purchasing power whether used directly to purchase a market basket of goods or used to convert at the PPP rate to the other currency and then purchase the market basket using that currency. Observed deviations of the exchange rate from purchasing power parity are measured by deviations of the real exchange rate from its PPP value of 1.PPP exchange rates help to minimize misleading international comparisons that can arise with the use of market exchange rates. For example, suppose that two countries produce the same physical amounts of goods as each other in each of two different years. Since market exchange rates fluctuate substantially, when the GDP of one country measured in its own currency is converted to the other country's currency using market exchange rates, one country might be inferred to have higher real GDP than the other country in one year but lower in the other; both of these inferences would fail to reflect the reality of their relative levels of production. But if one country's GDP is converted into the other country's currency using PPP exchange rates instead of observed market exchange rates, the false inference will not occur.