July 2016
... of 254.8 per cent which is relatively high in terms of emerging economies. As for the increment, since the global financial crisis, China’s debt ratio has been climbing rapidly, and leverage distribution among different economic sectors has been unequal (figure 37). In terms of both absolute levels ...
... of 254.8 per cent which is relatively high in terms of emerging economies. As for the increment, since the global financial crisis, China’s debt ratio has been climbing rapidly, and leverage distribution among different economic sectors has been unequal (figure 37). In terms of both absolute levels ...
A New Currency for the East African Community?
... established nation of South Sudan and the five countries in the African Great Lakes region in eastern Africa: Burundi, Kenya, Rwanda, Tanzania and Uganda. The institution was originally established in 1967, disappeared in 1977 and was officially revived again on 7 July 2000. In 2008, as a result of ...
... established nation of South Sudan and the five countries in the African Great Lakes region in eastern Africa: Burundi, Kenya, Rwanda, Tanzania and Uganda. The institution was originally established in 1967, disappeared in 1977 and was officially revived again on 7 July 2000. In 2008, as a result of ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... In the case of monetary policy shocks, the problem with the measure produced here is that the innovations in the Fed funds futures rates might be measuring innovations in the risk premium instead of shocks to monetary policy. The paper mentions that this problem is minimized by the way the measure o ...
... In the case of monetary policy shocks, the problem with the measure produced here is that the innovations in the Fed funds futures rates might be measuring innovations in the risk premium instead of shocks to monetary policy. The paper mentions that this problem is minimized by the way the measure o ...
NBER WORKING PAPER SERIES EXTERNAL ADJUSTMENT Maurice Obstfeld Working Paper
... risks. The resulting capital flight and the associated gold hemorrhage often led to a much more rapid and possibly bigger depreciation than would have occurred absent speculation. Sometimes, instead or in addition, capital controls were part of the policy response. The interwar experience heavily co ...
... risks. The resulting capital flight and the associated gold hemorrhage often led to a much more rapid and possibly bigger depreciation than would have occurred absent speculation. Sometimes, instead or in addition, capital controls were part of the policy response. The interwar experience heavily co ...
Exchange Rate Regime Choice in Historical Perspective
... direction of, the policies of the advanced countries and adopting domestic nominal anchors such as inflation targetting cum independent central banks; and on the other hand small very open emergers who may fare best with currency unions. ...
... direction of, the policies of the advanced countries and adopting domestic nominal anchors such as inflation targetting cum independent central banks; and on the other hand small very open emergers who may fare best with currency unions. ...
In Order to Form a More Perfect Monetary Union
... of the Federal Reserve Bank of Minneapolis. Subscriptions are available free of charge. Quarterly Review articles that are reprints or revisions of papers published elsewhere may not be reprinted without the written permission of the original publisher. All other Quarterly Review articles may be rep ...
... of the Federal Reserve Bank of Minneapolis. Subscriptions are available free of charge. Quarterly Review articles that are reprints or revisions of papers published elsewhere may not be reprinted without the written permission of the original publisher. All other Quarterly Review articles may be rep ...
Exchange rates and export performance: evidence from micro-data
... level trade behaviour, and the firm-level factors that might ...
... level trade behaviour, and the firm-level factors that might ...
The Capital Account and Pakistani Rupee Convertibility
... especially in the developing world. Reckless commercial bank lending led to the Latin American debt crisis of the 1980s, costing the entire region a whole decade of economic growth. Aggressive trade liberalization and an open capital account brought Mexico to its knees in 1994, when it was made to p ...
... especially in the developing world. Reckless commercial bank lending led to the Latin American debt crisis of the 1980s, costing the entire region a whole decade of economic growth. Aggressive trade liberalization and an open capital account brought Mexico to its knees in 1994, when it was made to p ...
the volatility of somalia`s unregulated exchange rates
... Historically, the monetary system of Somalia was stable and its national currency (Somali Shilling) had very strong value but Somali shilling started to depreciate after 1980s and its value reached to a very low level. Somalia’s central government collapsed in 1990 following three decades of stabili ...
... Historically, the monetary system of Somalia was stable and its national currency (Somali Shilling) had very strong value but Somali shilling started to depreciate after 1980s and its value reached to a very low level. Somalia’s central government collapsed in 1990 following three decades of stabili ...
EXCHANGE RATE ECONOMICS: 1986 NATIONAL BUREAU OF ECONOMIC RESEARCH Cambridge, MA 02138
... relative supply of domestic debt, then the cumulative imbalance would require an increase in the relative yield on domestic securities or a change in the relative valuation via exchange rate changes. A depreciation would be a means of correcting on increase in the relative supply of domestic securit ...
... relative supply of domestic debt, then the cumulative imbalance would require an increase in the relative yield on domestic securities or a change in the relative valuation via exchange rate changes. A depreciation would be a means of correcting on increase in the relative supply of domestic securit ...
Chapter 1: An Introduction to Corporate Finance
... like the Chicago Mercantile Exchange (CME) Group • Western barley and canola futures trade on ICE Canada (an exchange) • Major financial futures contracts like those for bankers’ acceptances (BAX), two and 10 year Government of Canada bonds (CGZ) and the S&P/TSX 60 Index (SXF) trade on the Montreal ...
... like the Chicago Mercantile Exchange (CME) Group • Western barley and canola futures trade on ICE Canada (an exchange) • Major financial futures contracts like those for bankers’ acceptances (BAX), two and 10 year Government of Canada bonds (CGZ) and the S&P/TSX 60 Index (SXF) trade on the Montreal ...
Jochen Garcke, Thomas Gerstner and Michael Griebel Intraday
... a regression problem. Here, the D features are derived from a delay embedding of the data [24, 29]. For example, approximations of first or second derivatives at each time step of the exchange rate under consideration can be used. Furthermore, we investigate especially the additional use of tick dat ...
... a regression problem. Here, the D features are derived from a delay embedding of the data [24, 29]. For example, approximations of first or second derivatives at each time step of the exchange rate under consideration can be used. Furthermore, we investigate especially the additional use of tick dat ...
china`s foreign exchange black market and exchange flight
... the government does not provide the needed foreign currency, they must resort to the black market. Also expectation of inflation and negative real interest rates lure people to switch renminbi to foreign currencies to preserve their wealth. Enterprises. Private and state enterprises resort to the fo ...
... the government does not provide the needed foreign currency, they must resort to the black market. Also expectation of inflation and negative real interest rates lure people to switch renminbi to foreign currencies to preserve their wealth. Enterprises. Private and state enterprises resort to the fo ...
understanding exchange rate volatility without the contrivance of
... We provide two kinds of evidence. First, we compare the volatility of the leftand right-hand sides of (3) for a number of different countries. We ask `Do countries with volatile exchange rates also have high macroeconomic volatility?' This test exploits cross-country evidence from a given period of ...
... We provide two kinds of evidence. First, we compare the volatility of the leftand right-hand sides of (3) for a number of different countries. We ask `Do countries with volatile exchange rates also have high macroeconomic volatility?' This test exploits cross-country evidence from a given period of ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Exchange Rate Theory and Practice
... upper and lower limits and can have the limits changed. And, as recent experience has made clear, most cases of floating rates involve a significant degree of management via central bank intervention in the exchange market. Furthermore, the existence of generalized floating among the major world cur ...
... upper and lower limits and can have the limits changed. And, as recent experience has made clear, most cases of floating rates involve a significant degree of management via central bank intervention in the exchange market. Furthermore, the existence of generalized floating among the major world cur ...
CHF: Is the minimum rate in danger?
... We do, however, still emphasise that there is definitely a risk that the minimum rate will be given up. Whether the risk is the highest in the short or the long term is, however, uncertain. In the short term, an early exit would limit the losses of the SNB. In the long term, an exit may prove to be ...
... We do, however, still emphasise that there is definitely a risk that the minimum rate will be given up. Whether the risk is the highest in the short or the long term is, however, uncertain. In the short term, an early exit would limit the losses of the SNB. In the long term, an exit may prove to be ...
Document
... critical processes took different paths in the EMEs and the EZEs. A key differential factor relates to the existence or not of a lender of last resort (LOLR) able to dissipate the default risk on the debts in international currency issued during the booming phase. In the EMEs case, given the absence ...
... critical processes took different paths in the EMEs and the EZEs. A key differential factor relates to the existence or not of a lender of last resort (LOLR) able to dissipate the default risk on the debts in international currency issued during the booming phase. In the EMEs case, given the absence ...
The Foreign Exchange Market
... An exchange rate is the price—the price of one currency in terms of another. Like all prices, an exchange rate is determined in a market—the foreign exchange market. The U.S. dollar is demanded and supplied by thousands of traders every hour of every day. With many traders and no restrictions, the f ...
... An exchange rate is the price—the price of one currency in terms of another. Like all prices, an exchange rate is determined in a market—the foreign exchange market. The U.S. dollar is demanded and supplied by thousands of traders every hour of every day. With many traders and no restrictions, the f ...
Extra Questions Chapter 11 1. An increase in taxes lowers income
... A) increases to keep the exchange rate unchanged, thus augmenting the effect of government spending on income. B) decreases to keep the exchange rate unchanged, thus offsetting the effect of government spending on income. C) remains unchanged, and there is no effect of government spending on income. ...
... A) increases to keep the exchange rate unchanged, thus augmenting the effect of government spending on income. B) decreases to keep the exchange rate unchanged, thus offsetting the effect of government spending on income. C) remains unchanged, and there is no effect of government spending on income. ...
Real Exchange Rate, Monetary Policy, and Employment
... and non-tradable goods, capital goods and labor, and even exports and imports (via the costs of intermediate inputs and capital goods, for example). The exchange rate is an asset price, partially determines inflation rates through the cost side and as a monetary transmission vector, and can have sig ...
... and non-tradable goods, capital goods and labor, and even exports and imports (via the costs of intermediate inputs and capital goods, for example). The exchange rate is an asset price, partially determines inflation rates through the cost side and as a monetary transmission vector, and can have sig ...
PDF
... application would probably be impossible without the rich source of elasticity estimates provided by simulations using the models developed by USDA’s Economic Research Service (ERS) to help derive the Department’s long run commodity projections. ERS’s Country-Link System of models (CLS) contains 40 ...
... application would probably be impossible without the rich source of elasticity estimates provided by simulations using the models developed by USDA’s Economic Research Service (ERS) to help derive the Department’s long run commodity projections. ERS’s Country-Link System of models (CLS) contains 40 ...
Zuzana Kucerova
... „If we move across the spectrum from closed to open economies, flexible exchange rates become both less effective as a control device for external balance and more damaging to internal price level stability. In fact, if one were worried about unwanted speculative movements in a floating exchange rat ...
... „If we move across the spectrum from closed to open economies, flexible exchange rates become both less effective as a control device for external balance and more damaging to internal price level stability. In fact, if one were worried about unwanted speculative movements in a floating exchange rat ...
Macroeconomic policy
... • Currency crisis in 1998 • Alternative explanations of the crisis • Macroeconomic policy after the 1998 crisis ...
... • Currency crisis in 1998 • Alternative explanations of the crisis • Macroeconomic policy after the 1998 crisis ...
Foreign Exchange Risk
... • There are a number of instruments that can be used to hedge foreign exchange risk. • Chapter 8 deals with the forward markets, while Chapter 9 introduces foreign exchange futures, options, and swaps. ...
... • There are a number of instruments that can be used to hedge foreign exchange risk. • Chapter 8 deals with the forward markets, while Chapter 9 introduces foreign exchange futures, options, and swaps. ...