Inflation Targeting
... behind the forecasts, and the motivation for its policy decisions. Some inflation-targeting central banks also provide some information on, or even forecasts of, its likely future policy decisions. This high degree of transparency is exceptional in view of the history of central banking. Traditional ...
... behind the forecasts, and the motivation for its policy decisions. Some inflation-targeting central banks also provide some information on, or even forecasts of, its likely future policy decisions. This high degree of transparency is exceptional in view of the history of central banking. Traditional ...
99095115I_en.pdf
... the fact that these goals are not made explicit, even though the Central Bank is the institution responsible for managing both systems, a factor that minimizes the likelihood of the kind of policy coordination problems seen in certain countries where exchange-rate policy is conducted by the governme ...
... the fact that these goals are not made explicit, even though the Central Bank is the institution responsible for managing both systems, a factor that minimizes the likelihood of the kind of policy coordination problems seen in certain countries where exchange-rate policy is conducted by the governme ...
Temi di discussione
... rate determination partly explain this circumstance. This contrasts with a recent research strand, which focuses on the role of money as an indicator of macroeconomic development in closed-economy models (Trecroci and Vega; 2000, Amato and Swansson; 2001, Dotsey and Hornstein; 2003). This paper prov ...
... rate determination partly explain this circumstance. This contrasts with a recent research strand, which focuses on the role of money as an indicator of macroeconomic development in closed-economy models (Trecroci and Vega; 2000, Amato and Swansson; 2001, Dotsey and Hornstein; 2003). This paper prov ...
Currency Boards - Cato Institute
... ABSTRACT: In contrast to central banks, currency boards are rulebound monetary institutions without discretionary monetary policies. Currency boards first appeared in the mid-nineteenth century, were widespread prior to World War II, were replaced by central banks after the war, and have made someth ...
... ABSTRACT: In contrast to central banks, currency boards are rulebound monetary institutions without discretionary monetary policies. Currency boards first appeared in the mid-nineteenth century, were widespread prior to World War II, were replaced by central banks after the war, and have made someth ...
03 RA Mundell - rivista Politica Economica
... monetary system. Dollar prices had become «world» prices and money increasingly came to mean the dollar. The gold standard that had been reinstated in the 1920s broke down not because of a mistake in setting the dollar-sterling exchange rate, but because gold liquidity at the post-war dollar price l ...
... monetary system. Dollar prices had become «world» prices and money increasingly came to mean the dollar. The gold standard that had been reinstated in the 1920s broke down not because of a mistake in setting the dollar-sterling exchange rate, but because gold liquidity at the post-war dollar price l ...
A Fast-Track East African Community Monetary Union?
... Next is to carry out the cointegration analysis. A separate VECM is set up for each variable. To select the appropriate lag length, the Akaike Information Criterion (AIC) and the Hannan-Quinn Information Criterion (HQIC) are used. For each VECM, the five submodels (model 0, 1*, 1, 2*, and 2) describ ...
... Next is to carry out the cointegration analysis. A separate VECM is set up for each variable. To select the appropriate lag length, the Akaike Information Criterion (AIC) and the Hannan-Quinn Information Criterion (HQIC) are used. For each VECM, the five submodels (model 0, 1*, 1, 2*, and 2) describ ...
A Strategy for Resolving Europe`s Problem Loans
... the FSI Compilation Guide (IMF, 2006) recommends reporting loans as non-performing when (i) payments of principal and interest are past due by three months (90 days) or more, or (ii) interest payments equal to three months (90 days) interest or more have been capitalized (reinvested into the princip ...
... the FSI Compilation Guide (IMF, 2006) recommends reporting loans as non-performing when (i) payments of principal and interest are past due by three months (90 days) or more, or (ii) interest payments equal to three months (90 days) interest or more have been capitalized (reinvested into the princip ...
the political economy of international monetary relations
... Caribbean have similarly tied their currencies to the U.S. dollar, and others are considering this link. Another type of regional fixed-rate system involves the linking of a number of regional currencies to one another, often as a step toward adoption of a common currency. This has been the case wi ...
... Caribbean have similarly tied their currencies to the U.S. dollar, and others are considering this link. Another type of regional fixed-rate system involves the linking of a number of regional currencies to one another, often as a step toward adoption of a common currency. This has been the case wi ...
Essay Questions
... central banks tried to have sharp fluctuations in the balance of payments. central banks tried to avoid sharp fluctuations in the current account of the balance of payments. central banks tried to avoid sharp fluctuations in the trade account of the balance of payments. central banks tried to avoid ...
... central banks tried to have sharp fluctuations in the balance of payments. central banks tried to avoid sharp fluctuations in the current account of the balance of payments. central banks tried to avoid sharp fluctuations in the trade account of the balance of payments. central banks tried to avoid ...
Essay Questions
... central banks tried to have sharp fluctuations in the balance of payments. central banks tried to avoid sharp fluctuations in the current account of the balance of payments. central banks tried to avoid sharp fluctuations in the trade account of the balance of payments. central banks tried to avoid ...
... central banks tried to have sharp fluctuations in the balance of payments. central banks tried to avoid sharp fluctuations in the current account of the balance of payments. central banks tried to avoid sharp fluctuations in the trade account of the balance of payments. central banks tried to avoid ...
Non deliverable forwards: 2013 and beyond
... deliverability: 14,375 for all six currencies; 3,260 for BRL; 4,811 for CNY; 12,534 for INR; 920 for KRW; 154 for RUB; 572 for TWD. The critical value for p = .0005 is 12, so all are highly statistically significant. Sources: Triennial Central Bank Survey; authors’ calculations ...
... deliverability: 14,375 for all six currencies; 3,260 for BRL; 4,811 for CNY; 12,534 for INR; 920 for KRW; 154 for RUB; 572 for TWD. The critical value for p = .0005 is 12, so all are highly statistically significant. Sources: Triennial Central Bank Survey; authors’ calculations ...
- ANU Repository
... the Governor of the Bank himself in this gigantic swindle. These docu ments led to the arrest and imprisonment of the Governor of the Bank, although he was soon exonerated. There was an interesting tail piece to this story— the counsel for the accused argued that at the time the economy was in need ...
... the Governor of the Bank himself in this gigantic swindle. These docu ments led to the arrest and imprisonment of the Governor of the Bank, although he was soon exonerated. There was an interesting tail piece to this story— the counsel for the accused argued that at the time the economy was in need ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... gold by contracting the money supply. In this way, surplus and deficit countries shared adjustment of the balance of payments under the classical gold standard in inverse proportion to the size of their monetary economies. As a practical matter, there was no other method of adjustment under the clas ...
... gold by contracting the money supply. In this way, surplus and deficit countries shared adjustment of the balance of payments under the classical gold standard in inverse proportion to the size of their monetary economies. As a practical matter, there was no other method of adjustment under the clas ...
1990:1-1999:4 - Amherst College
... foreign shocks may require, particularly in countries targeting measures of consumer prices, a contractionary monetary policy when the real economy is already weak. This potential problem causes some (see Ball [2000] and Woglom [2000]) to argue that in open economies with inflation targets, it is pa ...
... foreign shocks may require, particularly in countries targeting measures of consumer prices, a contractionary monetary policy when the real economy is already weak. This potential problem causes some (see Ball [2000] and Woglom [2000]) to argue that in open economies with inflation targets, it is pa ...
Currency Boards
... set up in principle in the Bank Charter Act of 1844, where the Issue Department of the Bank of England acted as a currency board. For this reason, many of the British colonies in Africa, Asia and the Caribbean used currency boards at the introduction of their own currencies. However, as colonies bec ...
... set up in principle in the Bank Charter Act of 1844, where the Issue Department of the Bank of England acted as a currency board. For this reason, many of the British colonies in Africa, Asia and the Caribbean used currency boards at the introduction of their own currencies. However, as colonies bec ...
Adaptational Pressure, Domestic Politics and the Evolution of the
... countries. The Treaty of Rome mentioned price stability and the external stability of the currencies as the“common, general objectives of economic policy in the Community” (Article 104). The stop-and-go patterns of the monetary cooperation throughout the 1970s and 1980s did not prevent Europe from s ...
... countries. The Treaty of Rome mentioned price stability and the external stability of the currencies as the“common, general objectives of economic policy in the Community” (Article 104). The stop-and-go patterns of the monetary cooperation throughout the 1970s and 1980s did not prevent Europe from s ...
Gold standard, deflation and depression: The
... that held foreign exchange could earn interest on it and the international gold standard was able to function with comparatively small gold reserves in the vaults of the centre countries. But as confidence in the gold parities began to weaken, central banks turned in their foreign exchange holdings ...
... that held foreign exchange could earn interest on it and the international gold standard was able to function with comparatively small gold reserves in the vaults of the centre countries. But as confidence in the gold parities began to weaken, central banks turned in their foreign exchange holdings ...
Fixed Exchange Rate and the Autonomy of Monetary
... 1972. Finally, the central bank of the Comoros issues the Comorian franc. Thus, the name “CFA franc zone” is misleading—besides the Comorian and French francs there are two distinct CFA francs within the zone. The zone is derived from international cooperation between France and several African coun ...
... 1972. Finally, the central bank of the Comoros issues the Comorian franc. Thus, the name “CFA franc zone” is misleading—besides the Comorian and French francs there are two distinct CFA francs within the zone. The zone is derived from international cooperation between France and several African coun ...
Financial Stability Report October 2004 Contents
... which is running a large fiscal deficit, and US households. The current imbalance is unlikely to be sustainable in the long term and, absent an increase in the US saving rate, adjustment most likely will occur through a weakening currency and/or higher real interest rates. ...
... which is running a large fiscal deficit, and US households. The current imbalance is unlikely to be sustainable in the long term and, absent an increase in the US saving rate, adjustment most likely will occur through a weakening currency and/or higher real interest rates. ...
Effects of Monetary and Macroprudential Policies on Financial
... aftermath of the GFC, they were actively used in the United States (but also in other countries) for many decades prior to the early 1990’s.4 In particular, they were deployed either jointly with monetary policy actions to affect monetary conditions—the correlation between two policies varies betwee ...
... aftermath of the GFC, they were actively used in the United States (but also in other countries) for many decades prior to the early 1990’s.4 In particular, they were deployed either jointly with monetary policy actions to affect monetary conditions—the correlation between two policies varies betwee ...
Bulletin Contents Volume 76 No. 2, June 2013
... It conducts a counterfactual exercise that maps the Reserve Bank’s new macro-prudential policy framework on to financial system developments over the period. It finds that, with the benefit of hindsight, there would have been a compelling case for macro-prudential intervention from 2005 onwards to a ...
... It conducts a counterfactual exercise that maps the Reserve Bank’s new macro-prudential policy framework on to financial system developments over the period. It finds that, with the benefit of hindsight, there would have been a compelling case for macro-prudential intervention from 2005 onwards to a ...
Chapter II (pdf format)
... (1) The central bank needs a large stock of the domestic currency to buy the foreign currency whenever there is a tendency for the market price of the foreign currency to go down. This is an easy requirement, since the central bank has the machine that prints domestic currency. (2) The central bank ...
... (1) The central bank needs a large stock of the domestic currency to buy the foreign currency whenever there is a tendency for the market price of the foreign currency to go down. This is an easy requirement, since the central bank has the machine that prints domestic currency. (2) The central bank ...
Seychelles
... spike in annual inflation to 5.8 percent in March, inflation has started to decline. 2 Supported by low international energy and food prices, appreciation of the Seychelles Rupee against the U.S. dollar, and tight monetary policy stance throughout the year, inflation is expected to recede to 4.4 per ...
... spike in annual inflation to 5.8 percent in March, inflation has started to decline. 2 Supported by low international energy and food prices, appreciation of the Seychelles Rupee against the U.S. dollar, and tight monetary policy stance throughout the year, inflation is expected to recede to 4.4 per ...
Monetary Policy Strategies for Emerging Market Countries
... most capital transactions was set at 1.4 pesos/dollar, while a floating exchange was created for all other transactions. Announcements that banks would (eventually) be required to repay their dollar deposit liabilities in full, while bank loan assets of under $100,000 would be converted into pesos ( ...
... most capital transactions was set at 1.4 pesos/dollar, while a floating exchange was created for all other transactions. Announcements that banks would (eventually) be required to repay their dollar deposit liabilities in full, while bank loan assets of under $100,000 would be converted into pesos ( ...
1 - EconStor
... indeed exceptionally large or just a manifestation of a general pattern where larger countries tend to endow their central banks with larger MPCs. Despite the considerable interest in MPC size, there is surprisingly little evidence about the cross-country variation in central bank boards and their d ...
... indeed exceptionally large or just a manifestation of a general pattern where larger countries tend to endow their central banks with larger MPCs. Despite the considerable interest in MPC size, there is surprisingly little evidence about the cross-country variation in central bank boards and their d ...
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.