Full-text article - Federal Reserve Bank of Boston
... euro-denominated debt instruments that fulfill uniform area-wide eligibility criteria specified by the ECB. Tier two consists of additional euro-denominated marketable and nonmarketable assets that are of particular importance to national banking systems and financial markets. The establishment of t ...
... euro-denominated debt instruments that fulfill uniform area-wide eligibility criteria specified by the ECB. Tier two consists of additional euro-denominated marketable and nonmarketable assets that are of particular importance to national banking systems and financial markets. The establishment of t ...
An Institutional Framework for Comparing Emerging Market
... Historically, CBAs were set up in small open economies with limited expertise in monetary management, little experience in central banking, or weak financial systems.8 The smaller the economy and the higher its degree of openness, the lower is the cost of foregoing the exchange rate as an instrument ...
... Historically, CBAs were set up in small open economies with limited expertise in monetary management, little experience in central banking, or weak financial systems.8 The smaller the economy and the higher its degree of openness, the lower is the cost of foregoing the exchange rate as an instrument ...
Exchange Rates and Trade Balances under the Dollar Standard
... Clearly, he remains loyal to the elasticities model since he quotes “As James Meade (1951) emphasized more than 50 years ago, the classical remedy for an economy experiencing both domestic overheating and external surpluses is exchange rate appreciation, and neither reserve nor debt consideration a ...
... Clearly, he remains loyal to the elasticities model since he quotes “As James Meade (1951) emphasized more than 50 years ago, the classical remedy for an economy experiencing both domestic overheating and external surpluses is exchange rate appreciation, and neither reserve nor debt consideration a ...
If CAN THE FED CONTROL MONEY? Beriji W. Sprinkel
... phenomenon, then the simple answer to the question of whether the Fed can control money is—from my point of view—that I certainly hope so. I also believe that it is so. Not even monetarists would argue that it is all that simple, however. Some might say it is the money supply per unit of output that ...
... phenomenon, then the simple answer to the question of whether the Fed can control money is—from my point of view—that I certainly hope so. I also believe that it is so. Not even monetarists would argue that it is all that simple, however. Some might say it is the money supply per unit of output that ...
understanding exchange rate volatility without the contrivance of
... countries with volatile exchange rates also have high macroeconomic volatility?' This test exploits cross-country evidence from a given period of time, and is thus immune to time-speci®c effects like oil prices. The evidence is contained in Fig. 1, which contains standard deviations of exchange rate ...
... countries with volatile exchange rates also have high macroeconomic volatility?' This test exploits cross-country evidence from a given period of time, and is thus immune to time-speci®c effects like oil prices. The evidence is contained in Fig. 1, which contains standard deviations of exchange rate ...
Removal of exchange control by the Thatcher Government
... authorities conserve the gold and foreign currency reserves and maintain the UK’s balance of payment positions. Before 1979, the Exchange Control Act of 1947 had tightly regulated capital transactions (both direct and portfolio investment) of British residents with foreign territories. The scheduled ...
... authorities conserve the gold and foreign currency reserves and maintain the UK’s balance of payment positions. Before 1979, the Exchange Control Act of 1947 had tightly regulated capital transactions (both direct and portfolio investment) of British residents with foreign territories. The scheduled ...
Jim2 Multicurrency - Happen Business Accounting Software
... TOOLS – CURRENCY RATES This area is where the Exchange Rates for each currency are maintained. You can set exchange rates for each currency as often as you like – remembering that each change in rate will immediately become the default for all new purchases or payments in that currency. ...
... TOOLS – CURRENCY RATES This area is where the Exchange Rates for each currency are maintained. You can set exchange rates for each currency as often as you like – remembering that each change in rate will immediately become the default for all new purchases or payments in that currency. ...
NBER WORKING PAPER SERIES Jeffrey Frankel Working Paper 13050
... Is the rand a commodity currency, like the Australian and Canadian dollar are said to be (to pick two floaters)? That is, is it a currency that appreciates when prices of the mineral products that it produces are strong on world markets and depreciates when they are weak? ...
... Is the rand a commodity currency, like the Australian and Canadian dollar are said to be (to pick two floaters)? That is, is it a currency that appreciates when prices of the mineral products that it produces are strong on world markets and depreciates when they are weak? ...
Capital account liberalisation strategy
... possible violations of the Rules on Foreign Exchange. Such monitoring requires access to a range of data that will be obtained both within the CBI’s systems and from other sources. Such data access must be continuous; i.e., it must not be dependent on the CBI’s requesting it on a case-by-case basis. ...
... possible violations of the Rules on Foreign Exchange. Such monitoring requires access to a range of data that will be obtained both within the CBI’s systems and from other sources. Such data access must be continuous; i.e., it must not be dependent on the CBI’s requesting it on a case-by-case basis. ...
U.S.-C R : T C
... the U.S. current account deficit still reached a peak of 3.4 percent of GDP in 1987, at which time the G-6 met in Paris to reverse course and intervene to stem the dollar’s slide (see Cline 2005). Currency intervention is often sterilized and has no permanent effect on the real exchange rate. The do ...
... the U.S. current account deficit still reached a peak of 3.4 percent of GDP in 1987, at which time the G-6 met in Paris to reverse course and intervene to stem the dollar’s slide (see Cline 2005). Currency intervention is often sterilized and has no permanent effect on the real exchange rate. The do ...
Currency crises and monetary policy in an economy with credit
... then implies that the currency must depreciate in the current period as well. In other words, if people believe that the currency will depreciate, it may indeed depreciate. Multiple short-run equilibria in the market for foreign exchange are thus possible. A currency crisis occurs either when expect ...
... then implies that the currency must depreciate in the current period as well. In other words, if people believe that the currency will depreciate, it may indeed depreciate. Multiple short-run equilibria in the market for foreign exchange are thus possible. A currency crisis occurs either when expect ...
foreign exchange rate regimes and foreign exchange markets in
... transformation of their economies.6 As regards the availability of the data necessary for our analysis, we focus on 18 representatives. For reasons of historical comparison there are included both countries which, during the period under examination, had already completed their transformation by joi ...
... transformation of their economies.6 As regards the availability of the data necessary for our analysis, we focus on 18 representatives. For reasons of historical comparison there are included both countries which, during the period under examination, had already completed their transformation by joi ...
Exam revision term one File
... Susi leaves Thailand and travels to Indonesia. She has 20 000 THB and uses these to buy Indonesian rupiah (IDR). The exchange rate is 3.28352 THB buys 1000 IDR. (b) ...
... Susi leaves Thailand and travels to Indonesia. She has 20 000 THB and uses these to buy Indonesian rupiah (IDR). The exchange rate is 3.28352 THB buys 1000 IDR. (b) ...
View/Open
... banking and financial institutions to act in a particular and desired manner. Open market operations entail purchases or sales of government securities by the SARB in a secondary market for securities. These are not new issues by the Treasury, but are bonds previously bought by someone other than th ...
... banking and financial institutions to act in a particular and desired manner. Open market operations entail purchases or sales of government securities by the SARB in a secondary market for securities. These are not new issues by the Treasury, but are bonds previously bought by someone other than th ...
NBER WORKING PAPER SERIES SHORT-RUN INDEPENDENCE OF MONETARY
... This paper develops an alternative theoretical framework in which monetary disturbances may play an important role in affecting interest rates and exchange rates. Unlike most previous research on the real effects of monetary shocks that has focused on a onesector macroeconomic model (such as [6] and ...
... This paper develops an alternative theoretical framework in which monetary disturbances may play an important role in affecting interest rates and exchange rates. Unlike most previous research on the real effects of monetary shocks that has focused on a onesector macroeconomic model (such as [6] and ...
Exchange Rates, Balance of Payments, and International Debt
... 4. Continuing the yap example, what might the yap government be forced to do if it did not have a sufficient quantity of yaps on reserve to eliminate the excess demand? • The yap government might be forced to borrow yaps from another country, or even agree to increase the exchange rate ($ per yap). ...
... 4. Continuing the yap example, what might the yap government be forced to do if it did not have a sufficient quantity of yaps on reserve to eliminate the excess demand? • The yap government might be forced to borrow yaps from another country, or even agree to increase the exchange rate ($ per yap). ...
The euro in the `currency war` - Centre for Economic Policy Research
... became de facto more restrictive than the other major central banks in 2013. This contributed to the relative strength of the euro over that period. As of early 2014, deflationary pressures are tangible. Inflation at constant tax rates stood at an annual level of 1% between April and November 2013 – ...
... became de facto more restrictive than the other major central banks in 2013. This contributed to the relative strength of the euro over that period. As of early 2014, deflationary pressures are tangible. Inflation at constant tax rates stood at an annual level of 1% between April and November 2013 – ...
I. Macroeconomic Outlook Central Bank of the Republic of Turkey
... The global economy displayed a moderate growth in 2014 while the discrepancies continue between recovery trends of countries. Inflation in advanced economies hovers below the target rates owing to the fall in commodity prices, especially oil prices. In emerging markets, however, inflation rates disp ...
... The global economy displayed a moderate growth in 2014 while the discrepancies continue between recovery trends of countries. Inflation in advanced economies hovers below the target rates owing to the fall in commodity prices, especially oil prices. In emerging markets, however, inflation rates disp ...
Dollarization in Cambodia: Causes and Policy Implications
... producing money exceeds (is below) its value, seigniorage is negative (positive). The cost of seigniorage can be estimated as a one-time stock cost from the amount of new foreign currency that is being acquired, or as a continuing flow cost in terms of seigniorage revenue foregone (Bogetić, 2000). G ...
... producing money exceeds (is below) its value, seigniorage is negative (positive). The cost of seigniorage can be estimated as a one-time stock cost from the amount of new foreign currency that is being acquired, or as a continuing flow cost in terms of seigniorage revenue foregone (Bogetić, 2000). G ...
Mobile termination rates in the EU15 European jurisdictions
... PPP (purchasing power parity) exchange rates are widely used by international organisations as an alternative to monetary exchange rates when making international economic comparisons. They are, in effect, “real” exchange rates, based on a comparison of the relative purchasing power of each country’ ...
... PPP (purchasing power parity) exchange rates are widely used by international organisations as an alternative to monetary exchange rates when making international economic comparisons. They are, in effect, “real” exchange rates, based on a comparison of the relative purchasing power of each country’ ...
Assessing the economic merits of joining the Euro
... monetary policy are ineffective at influencing GDP in the long run due to a vertical aggregate supply curve. So taken into account these two facts, why should a country consider giving up it monetary independence? • In reality, macroeconomic policy has an important role to play. Economies often expe ...
... monetary policy are ineffective at influencing GDP in the long run due to a vertical aggregate supply curve. So taken into account these two facts, why should a country consider giving up it monetary independence? • In reality, macroeconomic policy has an important role to play. Economies often expe ...
Exchange rates and export performance: evidence from micro-data
... researchers to consider a wide range of possible interactions ...
... researchers to consider a wide range of possible interactions ...
14.02 PRINCIPLES OF MACROECONOMICS Fall 2003- Quiz Three READ INSTRUCTIONS FIRST:
... 5. In Country A, the growth rate of nominal GDP per capita is 5 per cent. In Country B, the growth rate of real GDP (NB: real GDP, not real GDP per capita) is 3 per cent. In Country C the growth rate of real GDP per capita is 4 per cent. If population growth and inflation is positive in all three c ...
... 5. In Country A, the growth rate of nominal GDP per capita is 5 per cent. In Country B, the growth rate of real GDP (NB: real GDP, not real GDP per capita) is 3 per cent. In Country C the growth rate of real GDP per capita is 4 per cent. If population growth and inflation is positive in all three c ...
-1- Draft: 10/14 THE DEMISE OF THE DOLLAR? PLUS ÇA
... same scale. The euro zone, combining the financial sectors of all its members, was initially expected to pose a serious competitive challenge to the dollar. But its early promise has remained largely unrealized, and after a fast early start has even regressed under the pressure of Europe’s sovereign ...
... same scale. The euro zone, combining the financial sectors of all its members, was initially expected to pose a serious competitive challenge to the dollar. But its early promise has remained largely unrealized, and after a fast early start has even regressed under the pressure of Europe’s sovereign ...
