Statutory Issue Paper No. 81 Foreign Currency Transactions and
... summarized and recorded as a net asset or liability with an offsetting adjustment made directly to surplus. Current statutory guidance for life and accident and health insurers provides that fluctuations in the values of assets and liabilities be summarized and recorded as a net asset or liability w ...
... summarized and recorded as a net asset or liability with an offsetting adjustment made directly to surplus. Current statutory guidance for life and accident and health insurers provides that fluctuations in the values of assets and liabilities be summarized and recorded as a net asset or liability w ...
Monetary Unions, External Shocks and Economic Performance
... that of most works on the subject. Instead of analyzing whether the Latin American countries satisfy the traditional OCA criteria, such as facing similar external shocks across countries, I analyze the empirical evidence on the economic performance of countries “without a currency of their own,” and ...
... that of most works on the subject. Instead of analyzing whether the Latin American countries satisfy the traditional OCA criteria, such as facing similar external shocks across countries, I analyze the empirical evidence on the economic performance of countries “without a currency of their own,” and ...
The Internationalization of the Renminbi
... by the US Federal Reserve to stimulate the economy cannot be managed once the economy picks up speed.3 China’s concerns over the instability of the dollar’s value are no doubt reasonable. Nor is China alone in its concerns. With the exception of two brief episodes, the US dollar has performed poorly ...
... by the US Federal Reserve to stimulate the economy cannot be managed once the economy picks up speed.3 China’s concerns over the instability of the dollar’s value are no doubt reasonable. Nor is China alone in its concerns. With the exception of two brief episodes, the US dollar has performed poorly ...
Currency Unions, Product Introductions, and the Real Exchange Rate
... are not surprising in a world with barriers to arbitrage such as transport costs. A large body of literature, however, documents its surprisingly large failure for many traded goods and tries to explain the resulting volatility in the relative price of consumption across countries, or the real excha ...
... are not surprising in a world with barriers to arbitrage such as transport costs. A large body of literature, however, documents its surprisingly large failure for many traded goods and tries to explain the resulting volatility in the relative price of consumption across countries, or the real excha ...
Economic Policy in Dollarized Economies with Special Review of
... World War II, the number of currencies has grown dramatically. Following inadequate economic policies, the existence of a great number of currencies proved to be misguided. In the last decade, a reverse trend has emerged – the number of world currencies has been reducing. Many economists, especially ...
... World War II, the number of currencies has grown dramatically. Following inadequate economic policies, the existence of a great number of currencies proved to be misguided. In the last decade, a reverse trend has emerged – the number of world currencies has been reducing. Many economists, especially ...
A Currency Boards: Once and Future Monetary Regimes?
... the boards’ stock of reserve assets for very long. These regulations also can specify minimum values for reserve requirements that prevent the money multiplier from rising very high. This linking of banks’ credit to reserve assets is most important when a currency board is supposed to limit a moneta ...
... the boards’ stock of reserve assets for very long. These regulations also can specify minimum values for reserve requirements that prevent the money multiplier from rising very high. This linking of banks’ credit to reserve assets is most important when a currency board is supposed to limit a moneta ...
Net debt supply shocks in the euro area and the - ECB
... further when the ECB began its purchases in March 2015. The downward impact on yields has been partly explained by policy-makers in terms of a “creation of scarcity” and by a reduction in the “overall duration risk borne by the market” (Cœuré, 2015). The first channel refers to the fact that the APP ...
... further when the ECB began its purchases in March 2015. The downward impact on yields has been partly explained by policy-makers in terms of a “creation of scarcity” and by a reduction in the “overall duration risk borne by the market” (Cœuré, 2015). The first channel refers to the fact that the APP ...
mmi-stein 221784 en
... interest rates between the two countries should converge to a stationary mean. As long as there are current account deficits, the foreign debt and associated interest payments rise. If the current account deficit/foreign debt exceeds the growth rate of real GDP, then the ratio of the debt/GDP and th ...
... interest rates between the two countries should converge to a stationary mean. As long as there are current account deficits, the foreign debt and associated interest payments rise. If the current account deficit/foreign debt exceeds the growth rate of real GDP, then the ratio of the debt/GDP and th ...
Chinese Exporters, Exchange Rate Exposure, and the
... This section documents the distribution of exports and imports both by currency and by market. Two forms of …rm exchange rate exposure are analyzed. Direct exposure is the net position in a currency on a …rm’s books, i.e. the di¤erence between revenues in the currency and costs in the currency. Indi ...
... This section documents the distribution of exports and imports both by currency and by market. Two forms of …rm exchange rate exposure are analyzed. Direct exposure is the net position in a currency on a …rm’s books, i.e. the di¤erence between revenues in the currency and costs in the currency. Indi ...
Which Anchor Will Hold?
... McKinnon and Schnabl (2004). Rogoff (2001), however, argues that despite the transactions benefits of having a single world anchor currency, an equilibrium with two or three major currencies might still preferable because it provides a critical check on the center country’s incentives to misbehave, ...
... McKinnon and Schnabl (2004). Rogoff (2001), however, argues that despite the transactions benefits of having a single world anchor currency, an equilibrium with two or three major currencies might still preferable because it provides a critical check on the center country’s incentives to misbehave, ...
Form 19b-4 - NASDAQTrader.com
... band that have no open interest. The Exchange has found that this requirement is an administrative burden and does not believe that the restriction is justified. Rule 1034, Minimum Increments, currently prescribes the minimum trading increment for all U.S. dollar-settled FCO. This rule will now appl ...
... band that have no open interest. The Exchange has found that this requirement is an administrative burden and does not believe that the restriction is justified. Rule 1034, Minimum Increments, currently prescribes the minimum trading increment for all U.S. dollar-settled FCO. This rule will now appl ...
A Study on a Currency peg in the GCC Region with a Special Focus
... one currency and the value can be determined of one currency with respect to another currency. This is helpful especially when there are two different countries which are entering into a trading contract. The currency in which exchange would be made can be decided by the countries beforehand. This ...
... one currency and the value can be determined of one currency with respect to another currency. This is helpful especially when there are two different countries which are entering into a trading contract. The currency in which exchange would be made can be decided by the countries beforehand. This ...
Regional currency areas and the use of foreign currencies
... de-linked its currency from the US dollar when it became clear that the peg could not be sustained. On the other hand, experience shows that even if these arrangements may be sustainable, they may not always be beneficial. The decision by the government of Botswana to move away from linking its curr ...
... de-linked its currency from the US dollar when it became clear that the peg could not be sustained. On the other hand, experience shows that even if these arrangements may be sustainable, they may not always be beneficial. The decision by the government of Botswana to move away from linking its curr ...
chapter 16 exchange-rate systems
... Appreciate in value relative to other currencies b. Depreciate in value relative to other currencies c. Be officially devalued by the government d. Be officially revalued by the government 22. Under a floating exchange-rate system, if the U.S. dollar depreciates against the Swiss franc: a. American ...
... Appreciate in value relative to other currencies b. Depreciate in value relative to other currencies c. Be officially devalued by the government d. Be officially revalued by the government 22. Under a floating exchange-rate system, if the U.S. dollar depreciates against the Swiss franc: a. American ...
Working Paper 12-10: The Dollar and Its Discontents
... was indeed very low and is likely to continue to be low in the future. To illustrate, I find that the consumption-based cumulated return that China received on its dollar reserves in the 2000s was negative, and equal to minus 17 percent. That is, by investing the equivalent of 100 units of Chinese c ...
... was indeed very low and is likely to continue to be low in the future. To illustrate, I find that the consumption-based cumulated return that China received on its dollar reserves in the 2000s was negative, and equal to minus 17 percent. That is, by investing the equivalent of 100 units of Chinese c ...
NBER WORKING PAPER SERIES THE DOLLAR AND ITS DISCONTENTS Olivier Jeanne
... US dollar assets, but US Treasury debt played its role of safe haven. The government debt crisis in the euro area has durably reduced the competition that US Treasury debt faces in maintaining its status as the main global safe asset. And the data suggest that there is little risk of an imminent sh ...
... US dollar assets, but US Treasury debt played its role of safe haven. The government debt crisis in the euro area has durably reduced the competition that US Treasury debt faces in maintaining its status as the main global safe asset. And the data suggest that there is little risk of an imminent sh ...
© 21st Century Math Projects
... “shoppers” while the others are “sellers”. In the middle of the class period, these roles can switch. Shoppers are responsible for buying items from at least 8 different countries. The sellers should help the shoppers with the calculations. Google has exchange rates. X-Rates.com is also useful. © 21 ...
... “shoppers” while the others are “sellers”. In the middle of the class period, these roles can switch. Shoppers are responsible for buying items from at least 8 different countries. The sellers should help the shoppers with the calculations. Google has exchange rates. X-Rates.com is also useful. © 21 ...
why is investment so weak?
... across countries. Among the large euro area member states, activity in Spain and Italy in particular is well below the pre-crisis level, but, as far as Spain is concerned, this should be viewed in the light of strong overheating, among other factors, in the period 2005-07. In other countries, e.g. F ...
... across countries. Among the large euro area member states, activity in Spain and Italy in particular is well below the pre-crisis level, but, as far as Spain is concerned, this should be viewed in the light of strong overheating, among other factors, in the period 2005-07. In other countries, e.g. F ...
Dual Currency Investment – Important Facts Statement
... RMB Conversion Limitation Risk (if applicable) – RMB investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies ...
... RMB Conversion Limitation Risk (if applicable) – RMB investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies ...
Should Gold-Exporters Peg Their Currencies to
... currency board is a good idea after all (and others to wonder if Argentina should go all the way to full dollarization). But perhaps more thought should be given to what anchor the peso has been pegged to, rather than the tightness of the peg. Consider on the other hand, Chile, a country where expor ...
... currency board is a good idea after all (and others to wonder if Argentina should go all the way to full dollarization). But perhaps more thought should be given to what anchor the peso has been pegged to, rather than the tightness of the peg. Consider on the other hand, Chile, a country where expor ...
Exchange Rate Pass-Through to Import Prices in the
... evolved considerably over time. After a long period of debate over the law of one price and convergence across countries, beginning in the late 1980s exchange rate pass-through studies emphasized industrial organization and the role of segmentation and price discrimination across geographically dist ...
... evolved considerably over time. After a long period of debate over the law of one price and convergence across countries, beginning in the late 1980s exchange rate pass-through studies emphasized industrial organization and the role of segmentation and price discrimination across geographically dist ...
explaining and forecasting euro area exports which competitiveness
... using export prices, this measure has the convenient property of focusing on the cost side of the traded goods sector. It would therefore also account for lower profit margins in case of pricingto-market behaviour. Although this indicator has become rather popular in the debate on price competitive ...
... using export prices, this measure has the convenient property of focusing on the cost side of the traded goods sector. It would therefore also account for lower profit margins in case of pricingto-market behaviour. Although this indicator has become rather popular in the debate on price competitive ...
Exchange Rate Regime Choice with Multiple Key Currencies
... In the empirical section of this paper we test the predictions of our theory with respect to exchange rate regime choice with multiple key currencies. We find that imports from the country issuing the key currency and imports from countries that have already pegged to that currency explain a countr ...
... In the empirical section of this paper we test the predictions of our theory with respect to exchange rate regime choice with multiple key currencies. We find that imports from the country issuing the key currency and imports from countries that have already pegged to that currency explain a countr ...
Thomas Plümper Department of Government, University of Essex Eric Neumayer
... In the empirical section of this paper we test the predictions of our theory with respect to exchange rate regime choice with multiple key currencies. We find that imports from the country issuing the key currency and imports from countries that have already pegged to that currency explain a countr ...
... In the empirical section of this paper we test the predictions of our theory with respect to exchange rate regime choice with multiple key currencies. We find that imports from the country issuing the key currency and imports from countries that have already pegged to that currency explain a countr ...
International status and usage of the euro
The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and replaced minor currencies tied to the pre-euro currencies, such as in Monaco. Four small states have been given a formal right to use the euro, and to mint their own coins, but all other usage has been unofficial outside the eurozone (the EU states who have adopted the euro). With or without an agreement these countries, unlike those in the eurozone, do not participate in the European Central Bank or the Euro Group.Its international usage has also grown as a trading currency, acting as an economic or political alternative to using the United States dollar. Its increasing usage in this sense has led to its becoming the only significant challenger to the US dollar as the world's main reserve currency.