exchange rate regimes for developing and emerging markets
... remaining regimes falling in a continuum in between. These include managed float, pegs, target zones, etc. 2.1 Fixed Exchange Rate Regimes A fixed exchange rate system is one in which exchange rates are maintained at fixed levels. Each country has its currency fixed against another currency. It ma ...
... remaining regimes falling in a continuum in between. These include managed float, pegs, target zones, etc. 2.1 Fixed Exchange Rate Regimes A fixed exchange rate system is one in which exchange rates are maintained at fixed levels. Each country has its currency fixed against another currency. It ma ...
Exchange rate stabilization in developed and
... the motivation and effects of sterilized foreign exchange intervention in Germany, Japan and the US, i.e. in large countries issuing international currencies. This research on foreign exchange intervention has been traditionally based on the institutional setting of independent monetary policy makin ...
... the motivation and effects of sterilized foreign exchange intervention in Germany, Japan and the US, i.e. in large countries issuing international currencies. This research on foreign exchange intervention has been traditionally based on the institutional setting of independent monetary policy makin ...
Economic commentaries 3/2012
... Statoil. All oil and gas producers on the Norwegian continental shelf, with the exception of Petoro which is a state‐owned oil company, pay tax to the government on the oil and gas they produce and sell. In somewhat simplified terms, these companies have to pay a 78 per ...
... Statoil. All oil and gas producers on the Norwegian continental shelf, with the exception of Petoro which is a state‐owned oil company, pay tax to the government on the oil and gas they produce and sell. In somewhat simplified terms, these companies have to pay a 78 per ...
The Political Economy of French Monetary Policy Florin Aftalion*
... The technique used consists of forecasting for the coming year changes in gold and foreign reserves of the Central Bank and Treasury financing needs. Given a target increase for the money supply, the desired growth of loans to the economy can be set as a difference (see Appendix). However, a problem ...
... The technique used consists of forecasting for the coming year changes in gold and foreign reserves of the Central Bank and Treasury financing needs. Given a target increase for the money supply, the desired growth of loans to the economy can be set as a difference (see Appendix). However, a problem ...
View/Open
... Although it is widely accepted that local competition is aggressive in the Italian and Spanish domestic markets, it is not clear how much competition there is between Italian and Spanish exporter groups in international markets. On one hand, market segmentation may have prevented the strong domestic ...
... Although it is widely accepted that local competition is aggressive in the Italian and Spanish domestic markets, it is not clear how much competition there is between Italian and Spanish exporter groups in international markets. On one hand, market segmentation may have prevented the strong domestic ...
THE ROLE OF INTEREST RATES IN BUSINESS CYCLE
... The imports-to-GDP ratio is large in Thailand, amounting to 57 per cent of GDP. The share of goods imported from the United States is 5 per cent of GDP; the rest of the goods are imported from RoW. The United States is a much less open economy with an imports-to-GDP ratio of 12 per cent of GDP. The ...
... The imports-to-GDP ratio is large in Thailand, amounting to 57 per cent of GDP. The share of goods imported from the United States is 5 per cent of GDP; the rest of the goods are imported from RoW. The United States is a much less open economy with an imports-to-GDP ratio of 12 per cent of GDP. The ...
NBER WORKING PAPERS SERIES THE FRANC ZONE IN AFRICA
... Paper presented at the CEPR/OECD conference on lnternational Dimensions to Structural Adjustment: Implications for Developing Country Agriculture." April 22-23, 1991. Paris. Dani Rodrik's work was supported by an NBER Olin Fellowship. We thank Jim de Melo for inspiration, and Larry Ball, Emil-Maria ...
... Paper presented at the CEPR/OECD conference on lnternational Dimensions to Structural Adjustment: Implications for Developing Country Agriculture." April 22-23, 1991. Paris. Dani Rodrik's work was supported by an NBER Olin Fellowship. We thank Jim de Melo for inspiration, and Larry Ball, Emil-Maria ...
Management of Capital Flows in India: 1990-2011
... Learning from the Latin American debt crisis of the 1980s and the Asian Crisis of the 1990s, India adopted a calibrated approach towards management of capital flows. In particular, it prioritized the liberalization of non-debt creating flows including FDI and portfolio flows. While FDI was favored d ...
... Learning from the Latin American debt crisis of the 1980s and the Asian Crisis of the 1990s, India adopted a calibrated approach towards management of capital flows. In particular, it prioritized the liberalization of non-debt creating flows including FDI and portfolio flows. While FDI was favored d ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... 4.1 Introduction This paper reviews exchange rate arrangements that deviate from unrestricted convertibility at uniform fixed or flexible exchange rates. Broadly, these alternatives are called “multiple exchange rate practices,” which are formally defined by International Monetary Fund (1981, 2 3 ) ...
... 4.1 Introduction This paper reviews exchange rate arrangements that deviate from unrestricted convertibility at uniform fixed or flexible exchange rates. Broadly, these alternatives are called “multiple exchange rate practices,” which are formally defined by International Monetary Fund (1981, 2 3 ) ...
Net capital flows and real exchange rate depreciation effects on the business cycle in emerging market:
... registered as Foreign Direct Investment (FDI). Specifically, the financial account includes the purchases and sales of domestic and foreign assets divided into FDI, portfolio investment (i.e. trade in stock and bonds) and other investment (e.g. transactions in currency and bank deposits). As a resul ...
... registered as Foreign Direct Investment (FDI). Specifically, the financial account includes the purchases and sales of domestic and foreign assets divided into FDI, portfolio investment (i.e. trade in stock and bonds) and other investment (e.g. transactions in currency and bank deposits). As a resul ...
THE CENTRAL BANK OF THE REPUBLIC OF TURKEY 2000–01 FINANCIAL CRISIS
... The crisis of 2000–01, which was more severe than that of 1994, raises a multitude of questions. What were the reasons behind the events of 2000–01? Why did the crisis erupt in the midst of the IMF-supported stabilization pro- gram? What are the lessons that can be drawn? By answering these questio ...
... The crisis of 2000–01, which was more severe than that of 1994, raises a multitude of questions. What were the reasons behind the events of 2000–01? Why did the crisis erupt in the midst of the IMF-supported stabilization pro- gram? What are the lessons that can be drawn? By answering these questio ...
Financial Frictions and Unconventional Monetary Policy in Emerging
... the U.S. have been followed by capital outflows from emerging economies, raising concerns about macro and financial vulnerabilities in these economies. This evolving scenario is also fueling debate on how policy should respond to these and similar adverse shocks when they materialize. The central is ...
... the U.S. have been followed by capital outflows from emerging economies, raising concerns about macro and financial vulnerabilities in these economies. This evolving scenario is also fueling debate on how policy should respond to these and similar adverse shocks when they materialize. The central is ...
Download attachment
... Proceedings of Applied International Business Conference 2008 interest rate by RBF gave rise to speculations about the currency devaluation (Narayan, 2006; Narayan and Narayan, 2007). The next section undertakes a quantitative analysis of real exchange rate. 3. Review of empirical research on real ...
... Proceedings of Applied International Business Conference 2008 interest rate by RBF gave rise to speculations about the currency devaluation (Narayan, 2006; Narayan and Narayan, 2007). The next section undertakes a quantitative analysis of real exchange rate. 3. Review of empirical research on real ...
Abstract
... Non-traded inputs Refer to the inputs which cannot be exported and cannot be obtained through imports. Regarding to production of handmade carpet, labor, plans, equipment and tools of carpet weaving, overhead cost (including rent, electricity and water), and the process of carpet accomplishment (pai ...
... Non-traded inputs Refer to the inputs which cannot be exported and cannot be obtained through imports. Regarding to production of handmade carpet, labor, plans, equipment and tools of carpet weaving, overhead cost (including rent, electricity and water), and the process of carpet accomplishment (pai ...
OCA criteria - Erasmus University Thesis Repository
... over the years, terms of trade will stay reasonably stable too (Fleming, 1971). Different inflation rates cause variations in terms of trade, because when the inflation rate changes, this influences the flow of goods, because of the changes in the price of imports and exports. This causes the curren ...
... over the years, terms of trade will stay reasonably stable too (Fleming, 1971). Different inflation rates cause variations in terms of trade, because when the inflation rate changes, this influences the flow of goods, because of the changes in the price of imports and exports. This causes the curren ...
Costs, Benefits, and Constraints of the Basket Currency Regime
... currency against the US dollar would be doubled while foreign exchange risks of the home currency against the yen would be halved under the currency basket peg system. The regression analysis of the actual capital inflows found that the responsiveness of capital flows to the foreign exchange risk a ...
... currency against the US dollar would be doubled while foreign exchange risks of the home currency against the yen would be halved under the currency basket peg system. The regression analysis of the actual capital inflows found that the responsiveness of capital flows to the foreign exchange risk a ...
ECONOMIC POLICY AND THE REAL EXCHANGE RATE: RUSSIA
... issue of new money by the Central Bank. Purchasing power has been diverted from the local market by the sale of bonds, and then shifted to the foreign exchange market to buy dollars. Quite analogously, the central government could create a budgetary surplus, and then use those funds to purchase fore ...
... issue of new money by the Central Bank. Purchasing power has been diverted from the local market by the sale of bonds, and then shifted to the foreign exchange market to buy dollars. Quite analogously, the central government could create a budgetary surplus, and then use those funds to purchase fore ...
Pass-through and Exposure
... results. Section VII concludes. II. BRIEF LITERATURE REVIEW Most previous studies of pass-through have been empirically oriented. Pass-through behavior has been studied extensively using export and import price data from the United States, Japan, Germany, and other countries. Some studies such as Ma ...
... results. Section VII concludes. II. BRIEF LITERATURE REVIEW Most previous studies of pass-through have been empirically oriented. Pass-through behavior has been studied extensively using export and import price data from the United States, Japan, Germany, and other countries. Some studies such as Ma ...
Essays on currency intervention, with particular reference to
... Most major currencies are free floating vis-à-vis other currencies, except renminbi. 3 There might possibly be some gains or losses from currency intervention in the foreign exchange market. For example, Gylfason and Schmid (1983) show that devaluation has positive output effects in a study of ten c ...
... Most major currencies are free floating vis-à-vis other currencies, except renminbi. 3 There might possibly be some gains or losses from currency intervention in the foreign exchange market. For example, Gylfason and Schmid (1983) show that devaluation has positive output effects in a study of ten c ...
A History of Yen Exchange Rates James R. Lothian* Fordham
... period, for the interwar period and the Japanese nineteenth century float are indeed greater than the standard deviations for the Bretton Woods and gold standard periods in most instances. 10 This, however, does not appear to be the full story. One hint that more is involved than a simple fixed-floa ...
... period, for the interwar period and the Japanese nineteenth century float are indeed greater than the standard deviations for the Bretton Woods and gold standard periods in most instances. 10 This, however, does not appear to be the full story. One hint that more is involved than a simple fixed-floa ...
The IMF Classification of Official Exchange Rate Regimes
... policy of managing floating, in which largely market forces determined their exchange rates, although with frequent central bank intervention. By contrast, the vast majority of countries in the developing world did not abandon the policy of determining an official exchange rate for their currencies. ...
... policy of managing floating, in which largely market forces determined their exchange rates, although with frequent central bank intervention. By contrast, the vast majority of countries in the developing world did not abandon the policy of determining an official exchange rate for their currencies. ...
Earlier versions of
... We derive optimal money supply rules in a model of considerable simplicity. Firstly, we consider two economies in which the deviation of actual output from ...
... We derive optimal money supply rules in a model of considerable simplicity. Firstly, we consider two economies in which the deviation of actual output from ...
Factors Influencing Emerging Market Central Banks` Decision
... emerging markets (“EMs”) over the last decade. This study focuses on EMs that have sufficiently flexible exchange rate regimes, for which the decision to intervene is not required for maintenance of the exchange rate regime (such as with a fixed exchange rate, basket peg, crawling peg, etc.). Thus, ...
... emerging markets (“EMs”) over the last decade. This study focuses on EMs that have sufficiently flexible exchange rate regimes, for which the decision to intervene is not required for maintenance of the exchange rate regime (such as with a fixed exchange rate, basket peg, crawling peg, etc.). Thus, ...
Currency Boards
... often these are government securities, so that the liquidity provided allows a means of financing the deficit. As discussed earlier this is not an option for most currency boards. The central bank has two means by which it can influence the liquidity of the banking system. The first option is to buy ...
... often these are government securities, so that the liquidity provided allows a means of financing the deficit. As discussed earlier this is not an option for most currency boards. The central bank has two means by which it can influence the liquidity of the banking system. The first option is to buy ...
