NBER WORKING. PAPER SERIES EQUILIBRIUM AND EXCHANGE RATES Rudiger Dornbusch
... The paper reviews theoretical develorents in the field of exchange rate theory and assesses the empirical evidence. Since the empirical evidence does not lend support to the nrdels that have been formulated, a number of reasons for that failure are suggested. These include the argument that the curr ...
... The paper reviews theoretical develorents in the field of exchange rate theory and assesses the empirical evidence. Since the empirical evidence does not lend support to the nrdels that have been formulated, a number of reasons for that failure are suggested. These include the argument that the curr ...
msci emerging market criteria
... Investors can execute all their FX hedging trades with counter party of their choice, based on best execution Banks are active players in the “inter-bank foreign exchange market”, quoting competitive prices in USD/PKR spot as well as forward ...
... Investors can execute all their FX hedging trades with counter party of their choice, based on best execution Banks are active players in the “inter-bank foreign exchange market”, quoting competitive prices in USD/PKR spot as well as forward ...
What Drives Movements in Exchange Rates?
... macroeconomic fundamentals have not had much success in either explaining or forecasting exchange rates, possibly owing to the simplifying assumptions employed. Notwithstanding this, researchers at the Bank of Canada have developed an exchange rate equation that has been relatively successful at tra ...
... macroeconomic fundamentals have not had much success in either explaining or forecasting exchange rates, possibly owing to the simplifying assumptions employed. Notwithstanding this, researchers at the Bank of Canada have developed an exchange rate equation that has been relatively successful at tra ...
Management & Engineering Contents lists available at SEI
... Interest rate marketization reflects the effect of resource allocation optimization. Interest rate marketization shall play a fundamental role in coordination with market and resources, in order to optimize resource allocation. Interest rate is also a reference price for many other products. The ref ...
... Interest rate marketization reflects the effect of resource allocation optimization. Interest rate marketization shall play a fundamental role in coordination with market and resources, in order to optimize resource allocation. Interest rate is also a reference price for many other products. The ref ...
China`s exchange rate policy
... other prices. A mirror image of this process is that the Chinese economy became more integrated with the world market. The ratio of total trade to GDP rose from 14% in 1978 to a peak of 46% in 1993 and 35% in 1996.2 Though the profile in Fig. 2 does not tell us whether the real exchange rate was in ...
... other prices. A mirror image of this process is that the Chinese economy became more integrated with the world market. The ratio of total trade to GDP rose from 14% in 1978 to a peak of 46% in 1993 and 35% in 1996.2 Though the profile in Fig. 2 does not tell us whether the real exchange rate was in ...
What Drives Movements in Exchange Rates?
... macroeconomic fundamentals have not had much success in either explaining or forecasting exchange rates, possibly owing to the simplifying assumptions employed. Notwithstanding this, researchers at the Bank of Canada have developed an exchange rate equation that has been relatively successful at tra ...
... macroeconomic fundamentals have not had much success in either explaining or forecasting exchange rates, possibly owing to the simplifying assumptions employed. Notwithstanding this, researchers at the Bank of Canada have developed an exchange rate equation that has been relatively successful at tra ...
chapter 15 exchange-rate adjustments and the balance of payments
... 12. Assume the Canadian demand elasticity for imports equals 1.2, while the foreign demand elasticity for Canadian exports equals 1.8. Responding to a trade deficit, suppose the Canadian dollar depreciates by 10 percent. For Canada, the depreciation would lead to a(n): a. Worsening trade balance—a l ...
... 12. Assume the Canadian demand elasticity for imports equals 1.2, while the foreign demand elasticity for Canadian exports equals 1.8. Responding to a trade deficit, suppose the Canadian dollar depreciates by 10 percent. For Canada, the depreciation would lead to a(n): a. Worsening trade balance—a l ...
Risk management through introduction of futures contracts in tea
... Who would manage the futures market? • In this scenario, the auction centers and associations may not be the ideal organizers of the futures exchange, having no experience in managing financial derivatives. • In India, an established stock exchange like National Stock Exchange may be more suitable. ...
... Who would manage the futures market? • In this scenario, the auction centers and associations may not be the ideal organizers of the futures exchange, having no experience in managing financial derivatives. • In India, an established stock exchange like National Stock Exchange may be more suitable. ...
Modern Currency Wars: The United States versus Japan
... After World War I and much debate, in 1925 the British Chancellor of the Exchequer, Winston Churchill, tried to restore an international standard by pegging the price of gold at £4.86 per ounce—its pre-1914 parity. Many other nations followed suit. But in late 1926, France, which had inflated and de ...
... After World War I and much debate, in 1925 the British Chancellor of the Exchequer, Winston Churchill, tried to restore an international standard by pegging the price of gold at £4.86 per ounce—its pre-1914 parity. Many other nations followed suit. But in late 1926, France, which had inflated and de ...
Reserve Accumulation: Implications for Global Capital Flows and
... and public sector investors. For private investors, the objective is straightforward: to maximize expected returns relative to perceived risk. For example, a Japanese investor will consider yield differentials, expected exchange rate changes, and potential exchange rate volatility in deciding whethe ...
... and public sector investors. For private investors, the objective is straightforward: to maximize expected returns relative to perceived risk. For example, a Japanese investor will consider yield differentials, expected exchange rate changes, and potential exchange rate volatility in deciding whethe ...
Chapter 16 Output and the Exchange Rate: the Short-Run
... Permanent shifts in the money supply cause sharper exchange rate movements and therefore have stronger short-run effects on output than transitory shifts. If exports and imports adjust gradually to real exchange rate changes, the current account may follow a J-curve pattern after a real currency dep ...
... Permanent shifts in the money supply cause sharper exchange rate movements and therefore have stronger short-run effects on output than transitory shifts. If exports and imports adjust gradually to real exchange rate changes, the current account may follow a J-curve pattern after a real currency dep ...
Newsletter 30/2013
... "The price elasticity of demand for condoms - A field experiment on supply-side barriers to condom use in rural Zambia" Over two decades of behavior change education in developing countries have increased knowledge about HIV/AIDS and other sexually transmitted infections in Sub-Saharan Africa. Never ...
... "The price elasticity of demand for condoms - A field experiment on supply-side barriers to condom use in rural Zambia" Over two decades of behavior change education in developing countries have increased knowledge about HIV/AIDS and other sexually transmitted infections in Sub-Saharan Africa. Never ...
NBER WORKING PAPER SERIES MONOPOLISTIC COMPETITION AND DEVIATIONS FROM PPP Joshua Aizenman
... between the U. S. and its major trade partners tends to behave according to a random walk, whereas changes in goods prices demonstrate considerable ...
... between the U. S. and its major trade partners tends to behave according to a random walk, whereas changes in goods prices demonstrate considerable ...
Competition and Regulation in Trading Arenas
... nefariously, some broker-dealers may use this information to trade ahead of the larger trade--front running. In this environment, institutions are naturally reluctant to display a bid or an offer of size to the market, even though if their orders are anonymous. Institutions will go to great length ...
... nefariously, some broker-dealers may use this information to trade ahead of the larger trade--front running. In this environment, institutions are naturally reluctant to display a bid or an offer of size to the market, even though if their orders are anonymous. Institutions will go to great length ...
Chapter 16: Foreign Exchange Derivative Markets
... As international trade and investing have increased over time, so has the need to exchange currencies. Foreign exchange markets consist of a global telecommunications network among the large commercial banks that serve as financial intermediaries for such exchange. These banks are located in New Yor ...
... As international trade and investing have increased over time, so has the need to exchange currencies. Foreign exchange markets consist of a global telecommunications network among the large commercial banks that serve as financial intermediaries for such exchange. These banks are located in New Yor ...
Non deliverable forwards: 2013 and beyond
... turnover from the early 2000s (Ma et al (2004), Kim and Song (2010)). Since April 2013, NDF trading has been affected by investors’ and borrowers’ hedging in anticipation of a reduction in global monetary easing. Over the last several years, investors poured large sums into emerging market local cur ...
... turnover from the early 2000s (Ma et al (2004), Kim and Song (2010)). Since April 2013, NDF trading has been affected by investors’ and borrowers’ hedging in anticipation of a reduction in global monetary easing. Over the last several years, investors poured large sums into emerging market local cur ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... flight, not least because the lack of financial resources for appropriate economic development has pushed Nigeria and most other Sub-Sahara Africa (SSA) countries into external borrowing to augment domestic resources in their quest for economic growth. According to Lawson (2007), capital flight from ...
... flight, not least because the lack of financial resources for appropriate economic development has pushed Nigeria and most other Sub-Sahara Africa (SSA) countries into external borrowing to augment domestic resources in their quest for economic growth. According to Lawson (2007), capital flight from ...
A Study of the Real Interest Rate Differential Mode and
... towards the end of 2011. While it could be easy to compel ourselves to see positive correlations (which don’t exist/exist for alternative reasons) in the period studied, the reality of economic events in the same period must be accounted for when critiquing the models. Toward the latter end of 2011 ...
... towards the end of 2011. While it could be easy to compel ourselves to see positive correlations (which don’t exist/exist for alternative reasons) in the period studied, the reality of economic events in the same period must be accounted for when critiquing the models. Toward the latter end of 2011 ...
THE IMPACT OF EXCHANGE RATE MOVEMENTS ON TRADE
... naira exchange rate while resorting to discretionary foreign exchange controls which drove up the parallel market premium to over 100 per cent at times and damaged domestic industry and agriculture. Other price and interest rate controls, mandatory credit allocation schemes and commodity boards furt ...
... naira exchange rate while resorting to discretionary foreign exchange controls which drove up the parallel market premium to over 100 per cent at times and damaged domestic industry and agriculture. Other price and interest rate controls, mandatory credit allocation schemes and commodity boards furt ...
Chapter 13 Exchange Rates, Business Cycles, and Macroeconomic
... Compared with a system of fixed exchange rates, currency unions are beneficial because they (a) restrict what countries can do with fiscal policy. (b) allow exchange rates to float. (c) allow every country to have an independent monetary policy. (d) eliminate the possibility of speculative attacks. ...
... Compared with a system of fixed exchange rates, currency unions are beneficial because they (a) restrict what countries can do with fiscal policy. (b) allow exchange rates to float. (c) allow every country to have an independent monetary policy. (d) eliminate the possibility of speculative attacks. ...
Declaration on the selected option for the annual fee for the
... We the undersigned, acting on behalf of /Applicant's name and place of business/, entered into the register of entrepreneurs maintained by the District Court in /place, department number/ Commercial Department of the National Court Register under the number KRS /KRS number/ (“the Sharing Party”) dec ...
... We the undersigned, acting on behalf of /Applicant's name and place of business/, entered into the register of entrepreneurs maintained by the District Court in /place, department number/ Commercial Department of the National Court Register under the number KRS /KRS number/ (“the Sharing Party”) dec ...
The Role of Currency Board Regime during Economic Crisis
... Fatas and Rose (2001) add that fixed exchange rate regime is associated with stricter fiscal policy because of the credibility role of economic policy. Since many exchange rate devaluations are associated with fiscal deficit and severe problems of credibility for government and Central Banks, tighte ...
... Fatas and Rose (2001) add that fixed exchange rate regime is associated with stricter fiscal policy because of the credibility role of economic policy. Since many exchange rate devaluations are associated with fiscal deficit and severe problems of credibility for government and Central Banks, tighte ...
LF and FEM
... together to determine equilibrium, and then the effects of shifts in demand and supply are analyzed. • The two markets are linked together and r, NCO, EP/P*, and NX are jointly determined. • Different policies and situations are then analyzed and their affect on r, NCO, EP/P*, and NX identified. ...
... together to determine equilibrium, and then the effects of shifts in demand and supply are analyzed. • The two markets are linked together and r, NCO, EP/P*, and NX are jointly determined. • Different policies and situations are then analyzed and their affect on r, NCO, EP/P*, and NX identified. ...
Global Imbalances and the Transition to a Symmetric World
... 3. The causes of the USA external deficit (2): the “Bretton Woods II” hypothesis The second explanation of the US external imbalances mentioned above, the “Bretton Woods II” (BWII) hypothesis, was forcefully expounded in a series of papers by Dooley et al (2003, 2009) and is based on the existence o ...
... 3. The causes of the USA external deficit (2): the “Bretton Woods II” hypothesis The second explanation of the US external imbalances mentioned above, the “Bretton Woods II” (BWII) hypothesis, was forcefully expounded in a series of papers by Dooley et al (2003, 2009) and is based on the existence o ...