PDF
... restricted. It was felt that this change in quota policy would be sufficient to reduce bid prices over time, as producers realized that the capital gains previously experienced from quota ownership had been eliminated. As illustrated in Figure 1, while this policy change halted the rapid escalation ...
... restricted. It was felt that this change in quota policy would be sufficient to reduce bid prices over time, as producers realized that the capital gains previously experienced from quota ownership had been eliminated. As illustrated in Figure 1, while this policy change halted the rapid escalation ...
PHD thesis - Neven Vidakovic
... 4.2.5.1. Stable exchange rate, conduct of the monetary policy and the role of the foreign debt ................. 126 4.2.5.2. Conduct of the monetary policy under the variable exchange rate ................................................. 133 ...
... 4.2.5.1. Stable exchange rate, conduct of the monetary policy and the role of the foreign debt ................. 126 4.2.5.2. Conduct of the monetary policy under the variable exchange rate ................................................. 133 ...
Stylized Facts for Business Cycles in Turkey Harun ALP Yusuf Soner BAŞKAYA
... consumption compared to output are important characteristics of Turkish economy business cycles, as observed in other developing countries. Second, based on the observation that average duration of business cycles in Turkey is 20 quarters for 1987-2009 period, we estimate the optimal smoothing param ...
... consumption compared to output are important characteristics of Turkish economy business cycles, as observed in other developing countries. Second, based on the observation that average duration of business cycles in Turkey is 20 quarters for 1987-2009 period, we estimate the optimal smoothing param ...
Why Public-Private Partnerships Don`t Work
... to access the trillions of dollars held by pension funds, insurance companies and other institutional investors. To access these funds, governments are advised to do a whole lot of PPPs at the same time in order to create a pool of assets that can then be bundled and sold on to long-term investors. ...
... to access the trillions of dollars held by pension funds, insurance companies and other institutional investors. To access these funds, governments are advised to do a whole lot of PPPs at the same time in order to create a pool of assets that can then be bundled and sold on to long-term investors. ...
Chapter VIII (pdf format)
... At the firm level, currency risk is called exposure. The globalization of the business environment has turned exposure into a general management responsibility. Exposure is traditionally divided in three areas: transaction exposure, economic exposure, and translation exposure (balance sheet exposure ...
... At the firm level, currency risk is called exposure. The globalization of the business environment has turned exposure into a general management responsibility. Exposure is traditionally divided in three areas: transaction exposure, economic exposure, and translation exposure (balance sheet exposure ...
View/Open
... purchasers would recognize that the resale value of the quota was restricted. It was felt that this change in quota policy would be sufficient to reduce bid prices over time, as producers began to realize that the capital gains previously experienced from quota ownership had dissipated. As illustrat ...
... purchasers would recognize that the resale value of the quota was restricted. It was felt that this change in quota policy would be sufficient to reduce bid prices over time, as producers began to realize that the capital gains previously experienced from quota ownership had dissipated. As illustrat ...
Arbitrage in the foreign exchange market
... short-term arbitrage opportunities to arise, inviting traders to exploit them, and hence be quickly eliminated. Also, microstructure theory shows how price differences may occur for identical assets in markets that are less than fully centralized, segmented or with an imperfect degree of transparenc ...
... short-term arbitrage opportunities to arise, inviting traders to exploit them, and hence be quickly eliminated. Also, microstructure theory shows how price differences may occur for identical assets in markets that are less than fully centralized, segmented or with an imperfect degree of transparenc ...
Three Essays on the Impacts of Risk and Uncertainty on Foreign
... (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 developing regions (see Harsch, 2005).3 Most countries in Africa are characterized with l ...
... (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 developing regions (see Harsch, 2005).3 Most countries in Africa are characterized with l ...
Day Trading the Currency Market
... technical and fundamental drivers as well as actionable trading strategies. There is something for everyone in this book, as it is designed for both the beginner and the advanced trader. In this book, I try to accomplish two major goals: to touch on the basics of the FX market and the currency chara ...
... technical and fundamental drivers as well as actionable trading strategies. There is something for everyone in this book, as it is designed for both the beginner and the advanced trader. In this book, I try to accomplish two major goals: to touch on the basics of the FX market and the currency chara ...
5. The impact of real interest rates in the euro area
... latter two is to abstract from the effect of transitory shocks to current inflation, which may cause current inflation to be a distorted measure of expected inflation. 4 It is also sometimes argued that depending on the issue of interest one should use a particular price index, for example, a CPI if ...
... latter two is to abstract from the effect of transitory shocks to current inflation, which may cause current inflation to be a distorted measure of expected inflation. 4 It is also sometimes argued that depending on the issue of interest one should use a particular price index, for example, a CPI if ...
Estimating and interpreting probability density functions
... community, the BIS decided to organise a one-day workshop on estimation and interpretation of PDFs. The workshop was held in Basel on 14 June 1999 and organised by Gabriele Galati of the BIS and William Melick of Kenyon College, Ohio; it brought together experts from central banks, academia and the ...
... community, the BIS decided to organise a one-day workshop on estimation and interpretation of PDFs. The workshop was held in Basel on 14 June 1999 and organised by Gabriele Galati of the BIS and William Melick of Kenyon College, Ohio; it brought together experts from central banks, academia and the ...
NBER WORKING PAPER SERIES EXTERNAL ADJUSTMENT AND THE GLOBAL CRISIS
... We subsequently examine how external adjustment has taken place. Have real exchange rate movements contributed through an expenditure-switching channel? Or has expenditure reduction been the primary mechanism for the closing of excessive deficits? Has the adjustment experience differed between count ...
... We subsequently examine how external adjustment has taken place. Have real exchange rate movements contributed through an expenditure-switching channel? Or has expenditure reduction been the primary mechanism for the closing of excessive deficits? Has the adjustment experience differed between count ...
NBER WORKING PAPER SERIES
... the issue of terms of trade (TOT) volatility in emerging economies. An important aspect of this discussion relates to whether these price increases are permanent or transitory, and how they affect a country’s degree of international competitiveness. In many countries – Brazil being a prime example – ...
... the issue of terms of trade (TOT) volatility in emerging economies. An important aspect of this discussion relates to whether these price increases are permanent or transitory, and how they affect a country’s degree of international competitiveness. In many countries – Brazil being a prime example – ...
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.