Choice Of Exchange Rate Regimes For Developing Countries
... legal and judicial systems, and prudent foreign exchange exposure of the banking sector and domestic businesses are also important requirements for an exchange rate regime to successfully maintain competitiveness and avoid a currency crisis. Selective marketbased controls on capital inflows can, in ...
... legal and judicial systems, and prudent foreign exchange exposure of the banking sector and domestic businesses are also important requirements for an exchange rate regime to successfully maintain competitiveness and avoid a currency crisis. Selective marketbased controls on capital inflows can, in ...
OCASSIONAL POLICY PAPER MEASURES FOR FINANCIAL
... Macroeconomic stability risks stem from the large size of potential inflows relative to the ability of the economy to absorb these flows. Large capital inflows may lead to excessive expansion of domestic demand, which is likely to be reflected in inflationary pressures, real exchange rate appreciati ...
... Macroeconomic stability risks stem from the large size of potential inflows relative to the ability of the economy to absorb these flows. Large capital inflows may lead to excessive expansion of domestic demand, which is likely to be reflected in inflationary pressures, real exchange rate appreciati ...
February 2003
... and slightly increased at the medium-term horizon. 1. Inflation The main reasons for the low inflation expectations at the one-year horizon are – as regards domestic factors – stable annual CPI (%) food prices and the strong exchange rate and – and as for II-03 1 year 3 years external factors – the ...
... and slightly increased at the medium-term horizon. 1. Inflation The main reasons for the low inflation expectations at the one-year horizon are – as regards domestic factors – stable annual CPI (%) food prices and the strong exchange rate and – and as for II-03 1 year 3 years external factors – the ...
NBER WORKING PAPER SERIES SMALL COUNTRIES IN MONETARY UNIONS: A TWO-TIER MODEL
... Earlier versions were presented to the RIP Seminar, Boston College and the International Economics Workshop, Harvard University. Comments from participants, especially Richard Cooper, are gratefully acknowledged. The research reported here is part of the NBER's research program in International Stud ...
... Earlier versions were presented to the RIP Seminar, Boston College and the International Economics Workshop, Harvard University. Comments from participants, especially Richard Cooper, are gratefully acknowledged. The research reported here is part of the NBER's research program in International Stud ...
The Law of One Price and Arbitrage on China`s Dual
... companies that are extensively traded stocks in both markets. This comparison was done on a 1.5 hours overlap of trading day, when both markets were open. All possible transaction costs were taken into account, and the quotes data rather than traded data were used. The result showed that there was a ...
... companies that are extensively traded stocks in both markets. This comparison was done on a 1.5 hours overlap of trading day, when both markets were open. All possible transaction costs were taken into account, and the quotes data rather than traded data were used. The result showed that there was a ...
2014-11 - University of Glasgow
... This paper demonstrates that all of the currency options available to an independent Scotland come with the price tag of an austerity programme. This is due to the need to accumulate foreign exchange ...
... This paper demonstrates that all of the currency options available to an independent Scotland come with the price tag of an austerity programme. This is due to the need to accumulate foreign exchange ...
NBER WORKING PAPER SERIES HOW MANY MONIES? A GENETIC APPROACH TO FINDING
... where O is a random shock, L is labor employed in period t, and 0 < /3 < 1 is the share of labor. Nominal wages are downward sticky . A simple formulation is to assume that the (log) of the nominal wage is set in order to obtain labor market equilibrium based on information available in period t — 1 ...
... where O is a random shock, L is labor employed in period t, and 0 < /3 < 1 is the share of labor. Nominal wages are downward sticky . A simple formulation is to assume that the (log) of the nominal wage is set in order to obtain labor market equilibrium based on information available in period t — 1 ...
© 21st Century Math Projects
... “shoppers” while the others are “sellers”. In the middle of the class period, these roles can switch. Shoppers are responsible for buying items from at least 8 different countries. The sellers should help the shoppers with the calculations. Google has exchange rates. X-Rates.com is also useful. © 21 ...
... “shoppers” while the others are “sellers”. In the middle of the class period, these roles can switch. Shoppers are responsible for buying items from at least 8 different countries. The sellers should help the shoppers with the calculations. Google has exchange rates. X-Rates.com is also useful. © 21 ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Abstract: While many scholars have carried out a lot of research on the impact of exchange rate volatility and price shocks on economic growth, this study departs from previous studies and seeks to provide suggestions for Nigerian policy makers on the attainment of an ideal exchange rate necessary t ...
... Abstract: While many scholars have carried out a lot of research on the impact of exchange rate volatility and price shocks on economic growth, this study departs from previous studies and seeks to provide suggestions for Nigerian policy makers on the attainment of an ideal exchange rate necessary t ...
Financial Globalization and Exchange Rates Philip R. Lane Gian Maria Milesi-Ferretti
... recent decades. This process has involved sharply rising foreign asset and liability positions, whether scaled by GDP or by domestic financial variables (Lane and Milesi-Ferretti 2003, Obstfeld and Taylor 2004). In addition to larger gross positions, financial globalization has also allowed a greate ...
... recent decades. This process has involved sharply rising foreign asset and liability positions, whether scaled by GDP or by domestic financial variables (Lane and Milesi-Ferretti 2003, Obstfeld and Taylor 2004). In addition to larger gross positions, financial globalization has also allowed a greate ...
NBER WORKING PAPER SERIES THE REAL EFFECTS OF FOREIGN OF CURRENCY SUBSTITUTION
... James Tobin, in his classic work on money and growth (1965), proposed that changes in the inflation rate might have a real economic effect even if ...
... James Tobin, in his classic work on money and growth (1965), proposed that changes in the inflation rate might have a real economic effect even if ...
Financial globalization and exchange rates
... Training Network Programme (Contract No. HPRN–CT–1999–00067). The views in this paper do not necessarily reflect those of the International Monetary Fund. ...
... Training Network Programme (Contract No. HPRN–CT–1999–00067). The views in this paper do not necessarily reflect those of the International Monetary Fund. ...
Session # Presentation Title
... Session No. AD248 The Euro is Here and it Means Business! Michael G. McKenna Globalization Strategist Global Products Group Sybase, Inc. [email protected] ...
... Session No. AD248 The Euro is Here and it Means Business! Michael G. McKenna Globalization Strategist Global Products Group Sybase, Inc. [email protected] ...
Review of Exchange Arrangements, Restrictions, and Controls
... See Fischer, 2001. Eichengreen and Razo-Garcia, 2006, find that the polarization is complete in advanced countries. However, while most high-income countries have either hard pegs or independently floating arrangements, there is a more mixed picture among emerging market and developing countries. ...
... See Fischer, 2001. Eichengreen and Razo-Garcia, 2006, find that the polarization is complete in advanced countries. However, while most high-income countries have either hard pegs or independently floating arrangements, there is a more mixed picture among emerging market and developing countries. ...
Time Consistency of Monetary Policy in Separating Exchange Markets
... adopting separate exchange markets will be given as follows. The government operates a dual exchange rate system by fixing the foreign bonds held by the private sector at a particular volume. There exist two exchange rates: a market-determined rate for capital account transactions called a financial ...
... adopting separate exchange markets will be given as follows. The government operates a dual exchange rate system by fixing the foreign bonds held by the private sector at a particular volume. There exist two exchange rates: a market-determined rate for capital account transactions called a financial ...
Currency collapses and output dynamics
... Public authorities tend to resist sharp depreciations in their economy’s exchange rate, presumably because they fear that they would be very costly in terms of foregone output.2 This article presents new evidence on the relationship between currency collapses, defined as large nominal depreciations ...
... Public authorities tend to resist sharp depreciations in their economy’s exchange rate, presumably because they fear that they would be very costly in terms of foregone output.2 This article presents new evidence on the relationship between currency collapses, defined as large nominal depreciations ...
International Conference on Economic and Social Studies, 10
... Dutch Disease is the model, which tries to explain the contradictory relationship between the greater exploitation of natural resources and a decline in the sector of natural resources. Theory suggests that an increase in foreign inflows currency from export of natural resources is associated with o ...
... Dutch Disease is the model, which tries to explain the contradictory relationship between the greater exploitation of natural resources and a decline in the sector of natural resources. Theory suggests that an increase in foreign inflows currency from export of natural resources is associated with o ...
A Currency Boards: Once and Future Monetary Regimes?
... board’s obligation to trade its currency for the reserve currency at the prescribed rate of exchange. A currency board guarantees its commitment to maintain its fixed rate of exchange by backing its liabilities with a prescribed amount of foreign exchange assets, mostly denominated in its reserve cu ...
... board’s obligation to trade its currency for the reserve currency at the prescribed rate of exchange. A currency board guarantees its commitment to maintain its fixed rate of exchange by backing its liabilities with a prescribed amount of foreign exchange assets, mostly denominated in its reserve cu ...
Post-EMS Exchange Risk Trends: A Comparative Perspective
... price of volatility and the time-varying volatility of returns. In order to study these components, we employ two approaches: on the one hand, we compare two periods (before and after introduction of the euro) with the whole period. Thus, we estimate the DEM, BP and JY risk by using GARCH-M type mod ...
... price of volatility and the time-varying volatility of returns. In order to study these components, we employ two approaches: on the one hand, we compare two periods (before and after introduction of the euro) with the whole period. Thus, we estimate the DEM, BP and JY risk by using GARCH-M type mod ...
1 Economic Fundamentals on Exchange Rates under Different
... Malaysia, Indonesia and Korea among others, resort to the free floating exchange rate system. They abandoned the hard or soft peg exchange rate systems to adopt the free floating exchange rate system mainly because of their inability to maintain the pegs. Among many other factors of economic crisis, ...
... Malaysia, Indonesia and Korea among others, resort to the free floating exchange rate system. They abandoned the hard or soft peg exchange rate systems to adopt the free floating exchange rate system mainly because of their inability to maintain the pegs. Among many other factors of economic crisis, ...
An Introduction to International Money and Foreign Exchange Markets
... monetary equilibrium. Before we do that, however, it is good to review the five main players on the money market. These are: ...
... monetary equilibrium. Before we do that, however, it is good to review the five main players on the money market. These are: ...
BUSINESS COMBINATIONS
... securities. Analysis of the remaining equity securities is discussed later in this chapter. ...
... securities. Analysis of the remaining equity securities is discussed later in this chapter. ...
SERIES PRICING TO MARKET JAPANESE MANUFACTURING Richard
... Japanese manufacturing firms during the 1980s usIng an unusually detailed set of export and domestic price data published by the Bank of Japan. ...
... Japanese manufacturing firms during the 1980s usIng an unusually detailed set of export and domestic price data published by the Bank of Japan. ...
Slides for Chapter 9 - Columbia University
... What is the world share of GDP of high income, middle-income, and low-income economies? Comparisons of the size of economies (in $) tend to overstate the size of rich countries and understate the size of poor countries. Look at the next chart. It shows that in 2011, middle-income countries produced ...
... What is the world share of GDP of high income, middle-income, and low-income economies? Comparisons of the size of economies (in $) tend to overstate the size of rich countries and understate the size of poor countries. Look at the next chart. It shows that in 2011, middle-income countries produced ...