The Contribution of Economic Fundamentals to Movements in
... predictable component of changes in observed fundamentals is relatively small compared to the unpredictable component--most of the information about future fundamentals is contained in exchange rates rather than observable fundamentals. This makes identification of the separate contribution of expe ...
... predictable component of changes in observed fundamentals is relatively small compared to the unpredictable component--most of the information about future fundamentals is contained in exchange rates rather than observable fundamentals. This makes identification of the separate contribution of expe ...
Capital Inflows and Exchange Rate Volatility in Korea
... The global financial markets have experienced significant turmoil since the 2008 U.S. financial crisis. Not only have the global financial shocks affected advanced economies, but they have also spilled over to emerging countries such as Brazil, Russia and Korea, affecting their financial markets and ...
... The global financial markets have experienced significant turmoil since the 2008 U.S. financial crisis. Not only have the global financial shocks affected advanced economies, but they have also spilled over to emerging countries such as Brazil, Russia and Korea, affecting their financial markets and ...
Slide 1
... While challenges remain, the Dubai economy is on a much sounder footing especially as much of the excesses and speculative elements of the economy have been weeded out. What Dubai is now left with is an unparalleled logistics, commercial, retail, communications and transportation infrastructure in t ...
... While challenges remain, the Dubai economy is on a much sounder footing especially as much of the excesses and speculative elements of the economy have been weeded out. What Dubai is now left with is an unparalleled logistics, commercial, retail, communications and transportation infrastructure in t ...
Lectures on International Money
... for its original value. Or the issuing institution can attempt to make money by issuing coins with less gold content, but sell the coin for its original value. This is called debasing the currency. In fact, debasing might lead to currency crises—people will try to store the coins with high gold con ...
... for its original value. Or the issuing institution can attempt to make money by issuing coins with less gold content, but sell the coin for its original value. This is called debasing the currency. In fact, debasing might lead to currency crises—people will try to store the coins with high gold con ...
Globalizing Capital: A History of the International Monetary System
... may choose to do likewise to obtain technical advice and ease the exchange of data files, even if a technologically incompatible alternative exists (think Linux or Leopard) that is more reliable and easier to learn when used in isolation. These synergistic effects influence the costs and benefits of th ...
... may choose to do likewise to obtain technical advice and ease the exchange of data files, even if a technologically incompatible alternative exists (think Linux or Leopard) that is more reliable and easier to learn when used in isolation. These synergistic effects influence the costs and benefits of th ...
Extracting Inflation from Stock Returns to Test Purchasing Power Parity
... PPP holds, then changes in the exchange rate must equal the concurrent inflation differential between two countries. Empirically, the two are at most weakly correlated (Rogoff, 1996). Furthermore, changes in exchange rates are extremely volatile, with a yearly standard deviation typically on the ord ...
... PPP holds, then changes in the exchange rate must equal the concurrent inflation differential between two countries. Empirically, the two are at most weakly correlated (Rogoff, 1996). Furthermore, changes in exchange rates are extremely volatile, with a yearly standard deviation typically on the ord ...
The Effect of Exchange Rate Volatility on Productivity of Korean
... Previous studies explicitly show that the exchange rate volatility has a negative effect on investment, employment, and growth (Aghion et al. 2009; Aizenman and Marion 1999; Chong and Gradstein 2009; Serven 2003). Some studies also provide channels through which the exchange rate volatility works it ...
... Previous studies explicitly show that the exchange rate volatility has a negative effect on investment, employment, and growth (Aghion et al. 2009; Aizenman and Marion 1999; Chong and Gradstein 2009; Serven 2003). Some studies also provide channels through which the exchange rate volatility works it ...
Is the International Diversification Potential
... indices and (2) foreign stocks that are listed and traded in the US. I examine the first group since this is the standard approach in the international diversification literature, while I study the second group since some have argued that US-listed foreign stocks are the more natural diversification ...
... indices and (2) foreign stocks that are listed and traded in the US. I examine the first group since this is the standard approach in the international diversification literature, while I study the second group since some have argued that US-listed foreign stocks are the more natural diversification ...
Working NBER WORKING PAPER SERIES
... process that would operate if reserve losses (or gains) were allowed to affect the money supply, or to the long run equilibrium that would be established if this process were allowed to operate, or to the longer run consequences of changes in supplies of securities necessarily associated with polici ...
... process that would operate if reserve losses (or gains) were allowed to affect the money supply, or to the long run equilibrium that would be established if this process were allowed to operate, or to the longer run consequences of changes in supplies of securities necessarily associated with polici ...
The Impact of Hedging on Firm Value
... some kind of exposure to the exchange rate makes the foreign exchange risk first in importance to the Brazilian firms, exactly the type of environment where the hedging policy would generate more significant gains. 4 In this way, in emerging countries like Brazil, the identification of the impact of ...
... some kind of exposure to the exchange rate makes the foreign exchange risk first in importance to the Brazilian firms, exactly the type of environment where the hedging policy would generate more significant gains. 4 In this way, in emerging countries like Brazil, the identification of the impact of ...
When and Why Worry About Real Exchange Rate Appreciation?
... country’s wealth much faster than by closing the domestic manufacturing markets and export raw materials only, allowing the country to increase its technological degree of sophistication in the process. Other views link undervalued exchange rates to higher growth through different channels. Dooley, ...
... country’s wealth much faster than by closing the domestic manufacturing markets and export raw materials only, allowing the country to increase its technological degree of sophistication in the process. Other views link undervalued exchange rates to higher growth through different channels. Dooley, ...
What Determines Bilateral Trade Flows? - bu people
... where sin is industry n’s share of country i’s GDP. This indicator takes on values between 0 and 1. If a bilateral pair have the same sectoral structure this indicator is 1. The indicator takes on the value zero if both countries are specialized in production, i.e., sin = 0 whenever sjn > 0. ...
... where sin is industry n’s share of country i’s GDP. This indicator takes on values between 0 and 1. If a bilateral pair have the same sectoral structure this indicator is 1. The indicator takes on the value zero if both countries are specialized in production, i.e., sin = 0 whenever sjn > 0. ...
PDF
... the Philippines was calculated to determine whether government policies are creating incentives or disincentives to adopt more integrated pest management methods. Calculations found that direct price policies, primarily through an import tariff, tax pesticide use while an overvalued exchange rate su ...
... the Philippines was calculated to determine whether government policies are creating incentives or disincentives to adopt more integrated pest management methods. Calculations found that direct price policies, primarily through an import tariff, tax pesticide use while an overvalued exchange rate su ...
risks in securities trading - Maiestas
... According to the Liechtenstein Banking Ordinance, banks are required to provide their clients with a general description of the type and risks of the financial instruments before carrying out services. This description must contain the characteristics of the type of financial instrument concerned as ...
... According to the Liechtenstein Banking Ordinance, banks are required to provide their clients with a general description of the type and risks of the financial instruments before carrying out services. This description must contain the characteristics of the type of financial instrument concerned as ...
Chapter 10 8e SM
... in a high inflation country, remeasurement gains and losses are reported in income. Companies might want to hedge their balance sheet exposure in this situation to avoid the adverse impact remeasurement losses can have on consolidated income and earnings per share. The paradox in hedging balance she ...
... in a high inflation country, remeasurement gains and losses are reported in income. Companies might want to hedge their balance sheet exposure in this situation to avoid the adverse impact remeasurement losses can have on consolidated income and earnings per share. The paradox in hedging balance she ...
NBER WORKING PAPER SERIES THE EXCHANGE RATE AS A TOOL OF COMMERCIAL POLICY
... of their net asset holdings and of the domestic real interest rate. Equilibrium in the balance of payments requires that this difference between income and spending by domestic residents equal the current account balance which is the trade balance determined by the real sector model of section 2 ...
... of their net asset holdings and of the domestic real interest rate. Equilibrium in the balance of payments requires that this difference between income and spending by domestic residents equal the current account balance which is the trade balance determined by the real sector model of section 2 ...
NBER WORKING PAPER SERIES DEVALUATION CRISES AND THE MACROECONOMIC CONSEQUENCES
... values following the implementation of adjustment measures. The model is derived from well-articulated micro foundations and distinguishes between equilibrium and disequilibrium movements in real exchange rates. ...
... values following the implementation of adjustment measures. The model is derived from well-articulated micro foundations and distinguishes between equilibrium and disequilibrium movements in real exchange rates. ...
Multinational Finance
... The Impact of News Events The U.S. government reports that U.S. money supply M1 increased by $1 billion more than expected in the most recent quarter This would appear to result in a larger supply of dollars and hence a lower value for the dollar. However, the increase in the money supply has alrea ...
... The Impact of News Events The U.S. government reports that U.S. money supply M1 increased by $1 billion more than expected in the most recent quarter This would appear to result in a larger supply of dollars and hence a lower value for the dollar. However, the increase in the money supply has alrea ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... and labor productivity relative to their levels prior to stabilization. Productivity further increased in 1990, along with a process of restructuring and rationalization of operations in business and activity. Rise in wages beyond productivity. Coupled with wage controls, the devaluation and rises i ...
... and labor productivity relative to their levels prior to stabilization. Productivity further increased in 1990, along with a process of restructuring and rationalization of operations in business and activity. Rise in wages beyond productivity. Coupled with wage controls, the devaluation and rises i ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... with the (within- month mean square changes in) Federal Funds Futures Rate. In my opinion, this identification strategy is more fortunate than are the previous two. The reason is that the federal funds rate is to a large extent under the control of the monetary authority. It represents, after all, t ...
... with the (within- month mean square changes in) Federal Funds Futures Rate. In my opinion, this identification strategy is more fortunate than are the previous two. The reason is that the federal funds rate is to a large extent under the control of the monetary authority. It represents, after all, t ...
THE EFFECTS OF EURO ADOPTION ON THE SLOVAK ECONOMY
... should also indirectly experience benefits arising from euro for the entire economy. Higher profits and better financial situation of enterprises after joining the euro area will also improve credit portfolio of banks. Loss of independent monetary policy is considered to be the most significant cost ...
... should also indirectly experience benefits arising from euro for the entire economy. Higher profits and better financial situation of enterprises after joining the euro area will also improve credit portfolio of banks. Loss of independent monetary policy is considered to be the most significant cost ...
ANZ EMERGING MARKETS FOREIGN EXCHANGE GUIDE
... Can be illiquid, as auctions to provide liquidity are only ...
... Can be illiquid, as auctions to provide liquidity are only ...