Title: The Political Economy of Monetary Institutions: An
... mobile capital) have each been held out as ways of increasing the credibility of ex ante policy announcements and, thereby, reducing the inflationary bias of monetary policy. The argument that these institutions are chosen as a response to the same economic problem, however, raises some issues about ...
... mobile capital) have each been held out as ways of increasing the credibility of ex ante policy announcements and, thereby, reducing the inflationary bias of monetary policy. The argument that these institutions are chosen as a response to the same economic problem, however, raises some issues about ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... too vague to meet my definition of full-fledged coordination. The exchange rate obligations were explicit; the corresponding policy commitments were implicit. The latter became somewhat tighter, however, as the Bretton Woods system evolved. The International Monetary Fund (IMF) began to attach stric ...
... too vague to meet my definition of full-fledged coordination. The exchange rate obligations were explicit; the corresponding policy commitments were implicit. The latter became somewhat tighter, however, as the Bretton Woods system evolved. The International Monetary Fund (IMF) began to attach stric ...
S0701099_en.pdf
... steady-state values at different rates. Does the term “sustainable” refer to the current values of the more slowly-adjusting predetermined variables (which are “sustained” in the sense that they will change very slowly over time), or does it refer to the steady-state values of such variables (which ...
... steady-state values at different rates. Does the term “sustainable” refer to the current values of the more slowly-adjusting predetermined variables (which are “sustained” in the sense that they will change very slowly over time), or does it refer to the steady-state values of such variables (which ...
Currency Crises and Collapses
... Euromoneyreferredto the economic change as "spectacular."7 But it was not complete without full success on the issue of disinflation. In June 1979, after a year and a half of the tablita exchange rate policy, the governmentaddressedthe inflationissue with an even more determinedprogramof exchange ra ...
... Euromoneyreferredto the economic change as "spectacular."7 But it was not complete without full success on the issue of disinflation. In June 1979, after a year and a half of the tablita exchange rate policy, the governmentaddressedthe inflationissue with an even more determinedprogramof exchange ra ...
Dynamics of Firms and Trade in General Equilibrium
... period suggest that a general equilibrium linkage may be important in order to understand the dynamics of trade and exchange rates in Japan, where intermediate goods trade is increasingly more important in imports and exports. In contrast to the results using aggregate data, recent empirical studie ...
... period suggest that a general equilibrium linkage may be important in order to understand the dynamics of trade and exchange rates in Japan, where intermediate goods trade is increasingly more important in imports and exports. In contrast to the results using aggregate data, recent empirical studie ...
Exchange Rate Volatility and Exports: The Case of Colombia
... between exchange rate volatility and exports. As Clark et al. (2004) note, however, this impact is estimated to be economically small and is “…by no means a robust, universal finding.” Coric and Pugh (2010) provide a more comprehensive survey of the literature, which largely employs country-level a ...
... between exchange rate volatility and exports. As Clark et al. (2004) note, however, this impact is estimated to be economically small and is “…by no means a robust, universal finding.” Coric and Pugh (2010) provide a more comprehensive survey of the literature, which largely employs country-level a ...
CHAPTER 14—EXCHANGE-RATE ADJUSTMENTS AND THE
... 17. The shift in focus toward imperfectly competitive markets in domestic and international trade questions the concept of: a. Official exchange rates b. Complete currency pass-through c. Exchange arbitrage ...
... 17. The shift in focus toward imperfectly competitive markets in domestic and international trade questions the concept of: a. Official exchange rates b. Complete currency pass-through c. Exchange arbitrage ...
New Zealand`s Exchange Rate Cycles: Evidence and
... This is calculated as the highest point in the series, minus the lowest point in the series, divided by the lowest point in the series, and multiplied by 100. This effectively gives the range, in percentage form, in which the exchange rate has moved over the series. The peak/trough analysis involves ...
... This is calculated as the highest point in the series, minus the lowest point in the series, divided by the lowest point in the series, and multiplied by 100. This effectively gives the range, in percentage form, in which the exchange rate has moved over the series. The peak/trough analysis involves ...
New Zealand`s Exchange Rate Cycles: Evidence and Drivers
... This is calculated as the highest point in the series, minus the lowest point in the series, divided by the lowest point in the series, and multiplied by 100. This effectively gives the range, in percentage form, in which the exchange rate has moved over the series. The peak/trough analysis involves ...
... This is calculated as the highest point in the series, minus the lowest point in the series, divided by the lowest point in the series, and multiplied by 100. This effectively gives the range, in percentage form, in which the exchange rate has moved over the series. The peak/trough analysis involves ...
Corporate Bond Trading on a Limit Order Book Exchange by
... Our sample period is 2014 and we investigate 402 c-bonds denominated in NIS (New Israeli Shekels), of 143 firms, with a minimum market value of at least 100M NIS (approximately $28M during 2014).4 The market cap of these bonds was 95.3% of the TASE c-bond market cap. We use a unique and proprietary ...
... Our sample period is 2014 and we investigate 402 c-bonds denominated in NIS (New Israeli Shekels), of 143 firms, with a minimum market value of at least 100M NIS (approximately $28M during 2014).4 The market cap of these bonds was 95.3% of the TASE c-bond market cap. We use a unique and proprietary ...
FX Options and Structured Products
... solve and can serve as incentives to further research and testing. Solutions to the exercises are not part of this book, however they will be published on the web page of the book, www.mathfinance.com/FXOptions/. ...
... solve and can serve as incentives to further research and testing. Solutions to the exercises are not part of this book, however they will be published on the web page of the book, www.mathfinance.com/FXOptions/. ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Exchange Rates and International Macroeconomics
... markets, yet we distinguish between situations of short-run equilibrium, contingent on predetermined values of some variables, and long-run or full equilibrium. The distinction arises due to the multisectoral framework combined with the assumption that factor reallocation, in particular changes in s ...
... markets, yet we distinguish between situations of short-run equilibrium, contingent on predetermined values of some variables, and long-run or full equilibrium. The distinction arises due to the multisectoral framework combined with the assumption that factor reallocation, in particular changes in s ...
read... - Solidarity Movement for a New Ethiopia
... to rationally allocate the scarce resources. With such a belief system, the economy will be abused by political pressure groups, such as his regional surrogates and political cadres. Unfortunately, markets don’t like coercion, and such interference in the market system will be replete of shortages ...
... to rationally allocate the scarce resources. With such a belief system, the economy will be abused by political pressure groups, such as his regional surrogates and political cadres. Unfortunately, markets don’t like coercion, and such interference in the market system will be replete of shortages ...
SME Exchanges in Emerging Market Economies
... See Edinburgh Group, “Growing the Global Economy through SMEs”; Enterprise and Industry Publications, European Commission, “The New SME Definition”; Reserve Bank of India, “Micro, Small and Medium Enterprises.” ...
... See Edinburgh Group, “Growing the Global Economy through SMEs”; Enterprise and Industry Publications, European Commission, “The New SME Definition”; Reserve Bank of India, “Micro, Small and Medium Enterprises.” ...
Does Equity Derivatives Trading Affect the Systematic Risk of the
... has been written on the volatility effects of futures trading. Numerous empirical studies have found that beta estimates can be biased because of nonsynchronous trading and market frictions such as thin trading, trading delays, and price adjustment delays. This can cause the beta estimate to be bias ...
... has been written on the volatility effects of futures trading. Numerous empirical studies have found that beta estimates can be biased because of nonsynchronous trading and market frictions such as thin trading, trading delays, and price adjustment delays. This can cause the beta estimate to be bias ...
Informed Trading in Parallel Auction and Dealer Markets
... better able to identify informed traders. Gramming, Schiereck, and Theissen (2001) examine the relation of degree of trader anonymity and the probability of informed trading on the two parallel markets at the Frankfurt Stock Exchange. Both these studies are based on the concept that the non-anonymo ...
... better able to identify informed traders. Gramming, Schiereck, and Theissen (2001) examine the relation of degree of trader anonymity and the probability of informed trading on the two parallel markets at the Frankfurt Stock Exchange. Both these studies are based on the concept that the non-anonymo ...
EXCHANGE RATE AND INFLATION: A CASE OF
... policy decisions are at stake. This is so because higher inflation volatility means higher uncertainty, affecting inflation expectations, a crucial variable in decisions under an inflation-targeting regime. It is possible to classify the literature in two groups: those authors to whom there is no c ...
... policy decisions are at stake. This is so because higher inflation volatility means higher uncertainty, affecting inflation expectations, a crucial variable in decisions under an inflation-targeting regime. It is possible to classify the literature in two groups: those authors to whom there is no c ...
Nontraded Goods, Market Segmentation, and Exchange Rates
... roles for nontraded goods: as final consumption and as an input into the production of final tradable goods (retail services). In addition to retail services, final tradable goods require the use of local and imported intermediate traded inputs. Intermediate traded goods and nontraded goods are prod ...
... roles for nontraded goods: as final consumption and as an input into the production of final tradable goods (retail services). In addition to retail services, final tradable goods require the use of local and imported intermediate traded inputs. Intermediate traded goods and nontraded goods are prod ...
Nontraded Goods, Market Segmentation, and Exchange Rates WP
... roles for nontraded goods: as final consumption and as an input into the production of final tradable goods (retail services). In addition to retail services, final tradable goods require the use of local and imported intermediate traded inputs. Intermediate traded goods and nontraded goods are prod ...
... roles for nontraded goods: as final consumption and as an input into the production of final tradable goods (retail services). In addition to retail services, final tradable goods require the use of local and imported intermediate traded inputs. Intermediate traded goods and nontraded goods are prod ...
Welcome to the Study Guide
... systems, heterodox economists’ policy prescriptions are usually much less specific than the policy prescriptions suggested by orthodox economists. In recognition of uncertainty within a complex system, such as our economic, social, and natural system, heterodox economists are likely to invoke the pr ...
... systems, heterodox economists’ policy prescriptions are usually much less specific than the policy prescriptions suggested by orthodox economists. In recognition of uncertainty within a complex system, such as our economic, social, and natural system, heterodox economists are likely to invoke the pr ...
Fluctuations in the Yen/Dollar Exchange Rate, East Asian Business
... countries have followed and still maintain de facto dollar pegs is, while widespread and often taken as a matter of fact, by no means incontrovertible. In Section 4, we look more closely at the relative impact of yen/dollar fluctuations and the global electronics cycle on the Asian countries’ export ...
... countries have followed and still maintain de facto dollar pegs is, while widespread and often taken as a matter of fact, by no means incontrovertible. In Section 4, we look more closely at the relative impact of yen/dollar fluctuations and the global electronics cycle on the Asian countries’ export ...
III. Analysis of International Investment Positions
... The methodologies used to construct data on external assets and liabilities can differ both across and within countries. For the purpose of cross-country comparisons, one particularly important factor in this regard is the methodology used to estimate the stock of FDI and portfolio equity investment ...
... The methodologies used to construct data on external assets and liabilities can differ both across and within countries. For the purpose of cross-country comparisons, one particularly important factor in this regard is the methodology used to estimate the stock of FDI and portfolio equity investment ...
International Financial Integration* Philip R. Lane Institute for International Integration Studies
... The methodologies used to construct data on external assets and liabilities can differ both across and within countries. For the purpose of cross-country comparisons, one particularly important factor in this regard is the methodology used to estimate the stock of FDI and portfolio equity investment ...
... The methodologies used to construct data on external assets and liabilities can differ both across and within countries. For the purpose of cross-country comparisons, one particularly important factor in this regard is the methodology used to estimate the stock of FDI and portfolio equity investment ...
Exchange Rates and Monetary Policy in Emerging Market Economies Michael B. Devereux
... monetary policies for emerging market economies. Should these economies attempt to peg their exchange rates to the US dollar via currency boards or dollarisation, or should they allow the exchange rates to float and follow instead a domestically oriented monetary policy geared towards inflation targ ...
... monetary policies for emerging market economies. Should these economies attempt to peg their exchange rates to the US dollar via currency boards or dollarisation, or should they allow the exchange rates to float and follow instead a domestically oriented monetary policy geared towards inflation targ ...
The Effect of Trade Liberalization on Firm Entry and Exit in Punjab
... Given the temporary nature of changes in the exchange rate, however, firms are unlikely to change their production activities at all. Baggs et al. (2009) conducted a firm-level analysis of Canadian manufacturing firms for the period 1986 to 1997, incorporating exchange rate data with respect to the ...
... Given the temporary nature of changes in the exchange rate, however, firms are unlikely to change their production activities at all. Baggs et al. (2009) conducted a firm-level analysis of Canadian manufacturing firms for the period 1986 to 1997, incorporating exchange rate data with respect to the ...