Migrant Remittances, Financial Globalization, and Exchange Rate
... (broadly construed) as a constraint on exchange rate policy: countries with more open capital accounts are more likely to float their currencies, because to do otherwise implies a loss of domestic monetary policy autonomy (Cohen 1993; Leblang 1999; Broz 2002). I confront this conventional wisdom wi ...
... (broadly construed) as a constraint on exchange rate policy: countries with more open capital accounts are more likely to float their currencies, because to do otherwise implies a loss of domestic monetary policy autonomy (Cohen 1993; Leblang 1999; Broz 2002). I confront this conventional wisdom wi ...
Mizuho Dealer`s Eye
... to widen the FRB’s options with an eye on lessening the impact on the market when rates are finally lifted. A glance at the global situation suggests the FRB will find it hard to lift rates this year, so market participants may move to liquidate their dollar long positions. U.S. monetary policy will ...
... to widen the FRB’s options with an eye on lessening the impact on the market when rates are finally lifted. A glance at the global situation suggests the FRB will find it hard to lift rates this year, so market participants may move to liquidate their dollar long positions. U.S. monetary policy will ...
Slide 1
... Connolly and De Silveira, 1979; Modeste (1981) to Argentinian data; an empirical study on Korean data by Kim (1985); Thornton (1995) to Costa Rican database; Pontines and Siregar (2006) to Singaporean data; and Feridun (2009) to Turkish dataset ...
... Connolly and De Silveira, 1979; Modeste (1981) to Argentinian data; an empirical study on Korean data by Kim (1985); Thornton (1995) to Costa Rican database; Pontines and Siregar (2006) to Singaporean data; and Feridun (2009) to Turkish dataset ...
Monetary Policy and Uncertainty in an Empirical Small Open Economy Model PRELIMINARY
... as being particularly important follows directly from the fact that: the degree of price stickiness interacts with strategic complementarities to give rise to more persistent and variable in‡ation; habit formation in large part determines the dynamic properties of output; and the elasticity of labor ...
... as being particularly important follows directly from the fact that: the degree of price stickiness interacts with strategic complementarities to give rise to more persistent and variable in‡ation; habit formation in large part determines the dynamic properties of output; and the elasticity of labor ...
Current Research Journal of Economic Theory 4(4): 120-131, 2012 ISSN: 2042-485X
... and elaborated by Blanchard and Quah (1989), Vaubel (1978) and Krugman (1993), among others. The OCA theory focuses on whether or not the existence of a single currency in a particular geographical region would maximize economic efficiency. In other words, are the costs of forming a common currency ...
... and elaborated by Blanchard and Quah (1989), Vaubel (1978) and Krugman (1993), among others. The OCA theory focuses on whether or not the existence of a single currency in a particular geographical region would maximize economic efficiency. In other words, are the costs of forming a common currency ...
Food and Fuel Prices—Recent Developments, Macroeconomic
... Financial conditions have temporarily added to upward price pressure earlier this year. In particular, the drop in real policy interest rates and U.S. dollar depreciation likely contributed to the rising prices of oil and other commodities through their impact on physical oil demand and supply. In c ...
... Financial conditions have temporarily added to upward price pressure earlier this year. In particular, the drop in real policy interest rates and U.S. dollar depreciation likely contributed to the rising prices of oil and other commodities through their impact on physical oil demand and supply. In c ...
Chap010
... Countries agreed to peg their currencies to US$ which was convertible to gold at $35/oz. Agreed not to engage in competitive devaluations for trade purposes and defend their currencies Weak currencies could be devalued up to 10% w/o approval IMF and World Bank created ...
... Countries agreed to peg their currencies to US$ which was convertible to gold at $35/oz. Agreed not to engage in competitive devaluations for trade purposes and defend their currencies Weak currencies could be devalued up to 10% w/o approval IMF and World Bank created ...
Download paper (PDF)
... other variables in two regions. In terms of the notation in our empirical framework, all these variables would either be included in Ct or be linear combinations of the elements of Ct . The dynamic evolution of these variables can be approximated by a VAR of the form (1).9 The existing approaches th ...
... other variables in two regions. In terms of the notation in our empirical framework, all these variables would either be included in Ct or be linear combinations of the elements of Ct . The dynamic evolution of these variables can be approximated by a VAR of the form (1).9 The existing approaches th ...
Currency Crises
... management created by implicit or explicit government guarantees against failure. These examples illustrate how emerging markets as well as industrial countries often have not been able to make credible commitments to fixed exchange rates for an extended period. Although it is technically feasible f ...
... management created by implicit or explicit government guarantees against failure. These examples illustrate how emerging markets as well as industrial countries often have not been able to make credible commitments to fixed exchange rates for an extended period. Although it is technically feasible f ...
Brazil`s Derivatives Markets
... This report is a study of Brazil’s derivatives markets, the important role they play in the economy, and how they are used by the Brazilian Central Bank (BCB) in the conduct of macroeconomic policy. The first part of the report focuses on providing an analytical description of the derivatives market ...
... This report is a study of Brazil’s derivatives markets, the important role they play in the economy, and how they are used by the Brazilian Central Bank (BCB) in the conduct of macroeconomic policy. The first part of the report focuses on providing an analytical description of the derivatives market ...
A Currency Union Or An Exchange Rate Union
... determined by GDP and the trade volume of the country that uses this currency. The weights of the Chinese yuan, the Japanese yen and the Korean won are expected to be substantial. The introduction of the ACU is expected to help to stabilize the fluctuation of the 13 currencies in the region. The ACU ...
... determined by GDP and the trade volume of the country that uses this currency. The weights of the Chinese yuan, the Japanese yen and the Korean won are expected to be substantial. The introduction of the ACU is expected to help to stabilize the fluctuation of the 13 currencies in the region. The ACU ...
China`s Quarterly GDP Accounting Method by Expenditure
... Based on the trial accounting experiences for the recent years, Dept. of National Accounts of NBS has improved the accounting method for China’s quarterly GDP by expenditure approach, so that it is basically identical with 1993 SNA in the aspects of accounting scope, accounting principle, item class ...
... Based on the trial accounting experiences for the recent years, Dept. of National Accounts of NBS has improved the accounting method for China’s quarterly GDP by expenditure approach, so that it is basically identical with 1993 SNA in the aspects of accounting scope, accounting principle, item class ...
Exchange rate anomalies in the industrial countries: A solution with
... In this paper we extend the structural VAR approach of Sims and Zha, 1995 to an open economy and show that it can be used to explain the e!ects of monetary policy on exchange rates. Previous work, using an &unrestricted VAR' approach, provided evidence of an exchange rate puzzle (Grilli and Roubini, ...
... In this paper we extend the structural VAR approach of Sims and Zha, 1995 to an open economy and show that it can be used to explain the e!ects of monetary policy on exchange rates. Previous work, using an &unrestricted VAR' approach, provided evidence of an exchange rate puzzle (Grilli and Roubini, ...
Working NBER WORKING PAPER SERIES
... less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. ...
... less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. ...
Form 19b-4 - NASDAQTrader.com
... band that have no open interest. The Exchange has found that this requirement is an administrative burden and does not believe that the restriction is justified. Rule 1034, Minimum Increments, currently prescribes the minimum trading increment for all U.S. dollar-settled FCO. This rule will now appl ...
... band that have no open interest. The Exchange has found that this requirement is an administrative burden and does not believe that the restriction is justified. Rule 1034, Minimum Increments, currently prescribes the minimum trading increment for all U.S. dollar-settled FCO. This rule will now appl ...
1 - EcoMod
... DSGE model is structural and has the characteristics of a general equilibrium model. Apart from the fact that the equations are interpreted based on economic theory, the main variables of interest are also endogenous and depend on each other. In addition, the model is stochastic since random shocks ...
... DSGE model is structural and has the characteristics of a general equilibrium model. Apart from the fact that the equations are interpreted based on economic theory, the main variables of interest are also endogenous and depend on each other. In addition, the model is stochastic since random shocks ...
PDF:321KB
... imported products. After this, they make marginal improvements in products and processes and finally begin innovating and inventing. Importing Japanese capital goods that embody advanced technologies thus facilitates learning and productivity growth in the region. While almost 50 percent of Japan’s ...
... imported products. After this, they make marginal improvements in products and processes and finally begin innovating and inventing. Importing Japanese capital goods that embody advanced technologies thus facilitates learning and productivity growth in the region. While almost 50 percent of Japan’s ...
Purchasing power parity
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.