The Meltdown of the Indonesian Economy in 1997-1998
... the current account deficit rose to 3.6 percent in 1995 and 3.7 percent in 1996. This deterioration did not only reflect higher investment. Table 1 shows that the widening current account deficit between 1990 and 1996 was the result of both an increase in overall investment— from 28.4 to 33.4 percen ...
... the current account deficit rose to 3.6 percent in 1995 and 3.7 percent in 1996. This deterioration did not only reflect higher investment. Table 1 shows that the widening current account deficit between 1990 and 1996 was the result of both an increase in overall investment— from 28.4 to 33.4 percen ...
FRBSF E L
... “objectives and plans with respect to the ranges of growth or diminution of monetary and credit aggregates for the upcoming twelve months, taking account of past and prospective developments in production, employment, and prices.” The Full Employment and Balanced Growth Act of 1978 added a requireme ...
... “objectives and plans with respect to the ranges of growth or diminution of monetary and credit aggregates for the upcoming twelve months, taking account of past and prospective developments in production, employment, and prices.” The Full Employment and Balanced Growth Act of 1978 added a requireme ...
HOW TO SAVE THE EURO AND THE EUROPEAN UNION?
... issuing. It will increase the assets of money issuers. Currencies of the EU countries will be able to free from such illness as inflation. The volume of stable, not subjected to inflation monetary aggregate will increase. Capitals of commercial banks will start increasing as well. The answers to al ...
... issuing. It will increase the assets of money issuers. Currencies of the EU countries will be able to free from such illness as inflation. The volume of stable, not subjected to inflation monetary aggregate will increase. Capitals of commercial banks will start increasing as well. The answers to al ...
Maintaining financial stability: the experience of Thailand
... private sector demand was subdued by balance sheet constraints and risk aversion. But now, with the recovery of private demand, fiscal policy has shifted back to a balanced budget, while rather buoyant tax receipts with economic recovery have resulted in a cash surplus for the government, which sho ...
... private sector demand was subdued by balance sheet constraints and risk aversion. But now, with the recovery of private demand, fiscal policy has shifted back to a balanced budget, while rather buoyant tax receipts with economic recovery have resulted in a cash surplus for the government, which sho ...
the case - Economic History Society
... for the success or failure of various attempts to adjustment and stabilization prices. Second, will be the evolution of qualitative restrictions (inflationary habits, democracy) and quantitative (external opening, Balance of Payments crisis) that allowed the CB to execute monetary policy with bias t ...
... for the success or failure of various attempts to adjustment and stabilization prices. Second, will be the evolution of qualitative restrictions (inflationary habits, democracy) and quantitative (external opening, Balance of Payments crisis) that allowed the CB to execute monetary policy with bias t ...
as a Powerpoint presentation
... were announced with the intention to stabilize the situation, but initially with the clear hope and intent not to provide actual financing. Positive announcements were however followed repeatedly by the German refusal to provide help, destabilizing expectations further, increasing the risk of defaul ...
... were announced with the intention to stabilize the situation, but initially with the clear hope and intent not to provide actual financing. Positive announcements were however followed repeatedly by the German refusal to provide help, destabilizing expectations further, increasing the risk of defaul ...
Postwar Iraq's Financial System: Building from Scratch Looney, Robert 2005
... Other than one small private bank, the Iraqi Islamic Bank for Development and Investment, Islamic banking was for all practical purposes non-existent. In March 2003, the banking system had the equivalent of some $2 billion in assets, of which over 85-90 percent was in the two state banks. These asse ...
... Other than one small private bank, the Iraqi Islamic Bank for Development and Investment, Islamic banking was for all practical purposes non-existent. In March 2003, the banking system had the equivalent of some $2 billion in assets, of which over 85-90 percent was in the two state banks. These asse ...
Financial stability analysis using aggregated data
... funding and, at the same time, a large exposure of the lender vis-à-vis the region. At the beginning of 2000 the index was always below 100, indicating both the lower indebtedness of Latin American countries to the United States (the average for the zone as a whole dropped from over 32% in the crisi ...
... funding and, at the same time, a large exposure of the lender vis-à-vis the region. At the beginning of 2000 the index was always below 100, indicating both the lower indebtedness of Latin American countries to the United States (the average for the zone as a whole dropped from over 32% in the crisi ...
Bank of England Quarterly Bulletin Summer 2006
... achieve this by setting interest rates at the appropriate level. Financial stability entails detecting risks to the financial system as a whole through the Bank’s surveillance and market intelligence functions and working alongside other UK public authorities to reduce them. While the main focus for ...
... achieve this by setting interest rates at the appropriate level. Financial stability entails detecting risks to the financial system as a whole through the Bank’s surveillance and market intelligence functions and working alongside other UK public authorities to reduce them. While the main focus for ...
An exchange-rate-centred monetary policy system
... the band is reached, or allow the S$NEER to breach the band before intervening. Insofar as possible, it refrains from intervening and allows market forces to determine the level of the Singapore dollar exchange rate within the policy band. The timing, magnitude and frequency of its intervention oper ...
... the band is reached, or allow the S$NEER to breach the band before intervening. Insofar as possible, it refrains from intervening and allows market forces to determine the level of the Singapore dollar exchange rate within the policy band. The timing, magnitude and frequency of its intervention oper ...
International Coordination Jeffrey Frankel 2015 Asia Economic Policy Conference
... should assess spillover effects from their own actions…For example, this would mean that while exiting from unconventional policies, central banks would pay attention to conditions in emerging markets…” ...
... should assess spillover effects from their own actions…For example, this would mean that while exiting from unconventional policies, central banks would pay attention to conditions in emerging markets…” ...
International monetary policy transmission
... their policy interest rates. In fixed exchange rate regimes with free capital mobility, such as Hong Kong SAR, Saudi Arabia and the United Arab Emirates, the link between advanced and EME policy rates is largely direct and automatic. In China, notwithstanding capital controls and progressive liberal ...
... their policy interest rates. In fixed exchange rate regimes with free capital mobility, such as Hong Kong SAR, Saudi Arabia and the United Arab Emirates, the link between advanced and EME policy rates is largely direct and automatic. In China, notwithstanding capital controls and progressive liberal ...
Preparing for natural disasters - where does the Reserve Bank fit in
... New Zealand economic policy New Zealand is exposed to a range of different kinds of natural disasters, including storms, floods, volcanic eruption and earthquakes. The last-mentioned probably feature more in our consciousness than the others because of the tremendous havoc earthquakes can cause, and ...
... New Zealand economic policy New Zealand is exposed to a range of different kinds of natural disasters, including storms, floods, volcanic eruption and earthquakes. The last-mentioned probably feature more in our consciousness than the others because of the tremendous havoc earthquakes can cause, and ...
The Swiss National Bank 1907–2007
... information outside the areas covered by the main offices. The discontinuation of noncore business began hesitantly at the end of the 1970s, but was subsequently pursued more decisively and concluded in the 1990s. The non-core businesses were either abolished altogether (supporting ailing industries ...
... information outside the areas covered by the main offices. The discontinuation of noncore business began hesitantly at the end of the 1970s, but was subsequently pursued more decisively and concluded in the 1990s. The non-core businesses were either abolished altogether (supporting ailing industries ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: NBER International Seminar on Macroeconomics
... confronted with a wide range of assessments of fiscal policy effectiveness, often arising from exactly the same modeling approach (Wieland 2008). This translates into a low confidence in policy proposals. That is, quite clearly, an important point in politics, that is, in reasoning approaches in the ...
... confronted with a wide range of assessments of fiscal policy effectiveness, often arising from exactly the same modeling approach (Wieland 2008). This translates into a low confidence in policy proposals. That is, quite clearly, an important point in politics, that is, in reasoning approaches in the ...
4 Lectures on the €uropean crisis
... especially concerned to maintain unit labor costs at internationally competitive levels. Actors in such sectors are also especially sensitive to signals from the central bank, however, because the restrictive monetary policies that the bank wields not only depress the level of economic activity but ...
... especially concerned to maintain unit labor costs at internationally competitive levels. Actors in such sectors are also especially sensitive to signals from the central bank, however, because the restrictive monetary policies that the bank wields not only depress the level of economic activity but ...
Israel Economic Review Vol. 10, No. 1 (2012), 00–11 Israel
... eleven members of the European Union upped the ante by choosing a solution that required more, rather than less cooperation. On Jaunuary 1, 1999 they created a common currency area (European Monetary Union: EMU) that effectively imposed a fixed exchange rate among all member countries. Participants ...
... eleven members of the European Union upped the ante by choosing a solution that required more, rather than less cooperation. On Jaunuary 1, 1999 they created a common currency area (European Monetary Union: EMU) that effectively imposed a fixed exchange rate among all member countries. Participants ...
Presentation to Chapman University, Orange, CA
... the Federal Reserve. Throughout I will focus on monetary policy and not address payments systems, regulation of financial institutions, or other activities of central banks. At this point, I should emphasize that the views expressed here today are entirely my own, and do not necessarily reflect thos ...
... the Federal Reserve. Throughout I will focus on monetary policy and not address payments systems, regulation of financial institutions, or other activities of central banks. At this point, I should emphasize that the views expressed here today are entirely my own, and do not necessarily reflect thos ...
Basel III liquidity risk
... liquidity problems despite sound levels. In times of stress it is quickly turn assets into cash overall capital levels. stress, difficult to for all but the most liquid, high credit quality securities in preferred currencies. This flight to quality may force a bank in need of cash to accept substant ...
... liquidity problems despite sound levels. In times of stress it is quickly turn assets into cash overall capital levels. stress, difficult to for all but the most liquid, high credit quality securities in preferred currencies. This flight to quality may force a bank in need of cash to accept substant ...
Reserve Accumulation: Implications for Global Capital Flows and
... domestic currency assets into dollars or other reserve currencies. The attempt to satisfy this demand by drawing down the central bank’s reserve holdings can sharply reduce these holdings, redoubling the incentive for investors to buy foreign assets before the domestic currency weakens. A large stoc ...
... domestic currency assets into dollars or other reserve currencies. The attempt to satisfy this demand by drawing down the central bank’s reserve holdings can sharply reduce these holdings, redoubling the incentive for investors to buy foreign assets before the domestic currency weakens. A large stoc ...
Why the United Kingdom Should Join the Eurozone
... Since then it may have fallen by another 7% or so, following the unexpected 150 basis points cut in bank rate in November 2008. This is good news for all those who try to produce things in the United Kingdom in competition with foreign producers. But this relief comes after a ten-year period of over ...
... Since then it may have fallen by another 7% or so, following the unexpected 150 basis points cut in bank rate in November 2008. This is good news for all those who try to produce things in the United Kingdom in competition with foreign producers. But this relief comes after a ten-year period of over ...
International Finance I
... • It was founded in 1944, the World Bank Group is one of the world's largest sources of development assistance. • The Bank provided US$19.5 billion in loans to its client countries in fiscal year 2002, • It is now working in more than 100 developing economies • The World Bank is owned by more than 1 ...
... • It was founded in 1944, the World Bank Group is one of the world's largest sources of development assistance. • The Bank provided US$19.5 billion in loans to its client countries in fiscal year 2002, • It is now working in more than 100 developing economies • The World Bank is owned by more than 1 ...
Evaluating development efforts
... payments developments. They also learned, or re-learned, that episodes of real exchange rate appreciation could have devastating effects on the real economy if not driven by sustainable long-term increases in productivity (the Balassa-Samuelson effect). Last but not least, they learned that domesti ...
... payments developments. They also learned, or re-learned, that episodes of real exchange rate appreciation could have devastating effects on the real economy if not driven by sustainable long-term increases in productivity (the Balassa-Samuelson effect). Last but not least, they learned that domesti ...
Notice to Members 07-17 - April 2007
... appropriate federal agencies and parties must be consulted and the following factors must be considered when imposing special measures:5 (1) whether other nations or multilateral groups have taken similar action; (2) if any special measure being imposed would create a significant competitive disadva ...
... appropriate federal agencies and parties must be consulted and the following factors must be considered when imposing special measures:5 (1) whether other nations or multilateral groups have taken similar action; (2) if any special measure being imposed would create a significant competitive disadva ...
Bank for International Settlements
The Bank for International Settlements (BIS; French: Banque des règlements internationaux, BRI) is an international company limited by shares owned by central banks which ""fosters international monetary and financial cooperation and serves as a bank for central banks"".The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.