Foreign Exchange Market Organization in Selected
... trading in “exotic” currencies, as those of developing economies are known in the market. C. Predominantly Against U.S. Dollars The U.S. dollar is the most traded foreign currency in developing economies.9 It is even the most traded foreign currency in several countries applying for European Union m ...
... trading in “exotic” currencies, as those of developing economies are known in the market. C. Predominantly Against U.S. Dollars The U.S. dollar is the most traded foreign currency in developing economies.9 It is even the most traded foreign currency in several countries applying for European Union m ...
Monetary Policy and Economic Growth of Nigeria
... channels of transmissions have been broadly examined under the monetarist and Keynesian schools of thought. The monetarist postulates that change in the money supply leads directly to a change in the real magnitude of money. Describing this transmission mechanism, (Friedman and Schwartz. 1963) say a ...
... channels of transmissions have been broadly examined under the monetarist and Keynesian schools of thought. The monetarist postulates that change in the money supply leads directly to a change in the real magnitude of money. Describing this transmission mechanism, (Friedman and Schwartz. 1963) say a ...
Does exchange rate depreciation have contractionary effects on firm
... We address the severe data limitations on firms’ foreign currency exposures. The breakdown required by most generally accepted accounting principles (GAAP) ignores some relevant details, such as currency composition, residual maturity and market of issuance. When this information is included in ...
... We address the severe data limitations on firms’ foreign currency exposures. The breakdown required by most generally accepted accounting principles (GAAP) ignores some relevant details, such as currency composition, residual maturity and market of issuance. When this information is included in ...
Day-of-the-week Anomaly: An illusion or a Reality? Evidence from
... After the first calendar effect detected by Field (1931), who investigated the pattern of the Dow Jone industrial average from 1915 to 1930, to ascertain whether the conventional Wall Street wisdom was true. For the 717 weekend data he studied, he discovered that Saturday’s prices tend to rise in $. ...
... After the first calendar effect detected by Field (1931), who investigated the pattern of the Dow Jone industrial average from 1915 to 1930, to ascertain whether the conventional Wall Street wisdom was true. For the 717 weekend data he studied, he discovered that Saturday’s prices tend to rise in $. ...
Monetary Policy Alternatives at the Zero Bound: February, 2013 Christopher Hanes
... York exchanges; and interest-paying interbank deposits (Haney, Logan and Gavens 1932; United States Senate 1931 part 1, 1048; Turner 1931). The U.S. and most of its international trading partners were in an international gold standard system. Monetary authorities exchanged currency and central bank ...
... York exchanges; and interest-paying interbank deposits (Haney, Logan and Gavens 1932; United States Senate 1931 part 1, 1048; Turner 1931). The U.S. and most of its international trading partners were in an international gold standard system. Monetary authorities exchanged currency and central bank ...
56a68c3071b7663b2065966b2f51ef12
... The effect of real income on an exchange rate. British productivity increase 10%, lead to 10% increase in real British national income, if the money supply is not change, the price must decline 10%, eventually, leading to a rise in the value of pounds. A 10% decline in US real income should raise e ...
... The effect of real income on an exchange rate. British productivity increase 10%, lead to 10% increase in real British national income, if the money supply is not change, the price must decline 10%, eventually, leading to a rise in the value of pounds. A 10% decline in US real income should raise e ...
The Demand for Money in Tanzania
... operator, is the inflation rate, is the rate of nominal depreciation, and z is a vector of other determinants (Ericsson 1998).1 As alternative scale variables, we consider real GDP and gross national expenditure (GNE); both serve as proxies for the transactions demand for money.2 The two varia ...
... operator, is the inflation rate, is the rate of nominal depreciation, and z is a vector of other determinants (Ericsson 1998).1 As alternative scale variables, we consider real GDP and gross national expenditure (GNE); both serve as proxies for the transactions demand for money.2 The two varia ...
Economic Premise - World Bank Group
... financial reasons. For example, in the case of China, which has been among the most vocal in calling for an enhanced role for the SDR, heavy accumulation of reserves was a clear consequence of policies to promote export-led growth. That those reserves were overwhelmingly denominated in U.S. dollars ...
... financial reasons. For example, in the case of China, which has been among the most vocal in calling for an enhanced role for the SDR, heavy accumulation of reserves was a clear consequence of policies to promote export-led growth. That those reserves were overwhelmingly denominated in U.S. dollars ...
A cash rate system for implementing monetary policy
... and end of the transmission mechanism closer together. Specifically, expectations about future monetary policy acRESERVE BANK OF NEW ZEALAND: Bulletin Vol. 62 No. 1 ...
... and end of the transmission mechanism closer together. Specifically, expectations about future monetary policy acRESERVE BANK OF NEW ZEALAND: Bulletin Vol. 62 No. 1 ...
NBER WORKING PAPER SERIES EXCESS CAPACITY, MONOPOLISTIC COMPETITION, AND INTERNATIONAL TRANSMISSION
... monetary policy shocks. ...
... monetary policy shocks. ...
Chapter 15
... • LOP does not hold for non-traded items such as services, only freely-traded goods • LOP does not hold for differentiated products • LOP and PPP may not hold in the short run ...
... • LOP does not hold for non-traded items such as services, only freely-traded goods • LOP does not hold for differentiated products • LOP and PPP may not hold in the short run ...
Prices and Exchange Rates: A Theory of Disconnect
... consumer import prices (Engel, 2002).1 This empirical regularity is usually interpreted as implying that the effect of nominal exchange rates on quantities traded between countries, the so-called expenditure-switching effect of exchange rates, is negligible: if exchange rate movements do not affect ...
... consumer import prices (Engel, 2002).1 This empirical regularity is usually interpreted as implying that the effect of nominal exchange rates on quantities traded between countries, the so-called expenditure-switching effect of exchange rates, is negligible: if exchange rate movements do not affect ...
Another View on an Old Inflation
... made by Jones (1953), Duncan-Jones (1990), and others. However, historians have over the last decades consistently suggested -though not in terms of compound annual rates- that prices rose considerably within a much shorter period of time, spanning perhaps the last three quarters of a century or qua ...
... made by Jones (1953), Duncan-Jones (1990), and others. However, historians have over the last decades consistently suggested -though not in terms of compound annual rates- that prices rose considerably within a much shorter period of time, spanning perhaps the last three quarters of a century or qua ...
mmi14-Urosevic 19106720 en
... globalization helped improve quality, scope, and efficiency of financial services in Europe and many other regions of the world. At the same time, past two decades witnessed, also, a dramatic increase in frequency, severity and geographic reach of financial crises.2 The recent financial and economic cris ...
... globalization helped improve quality, scope, and efficiency of financial services in Europe and many other regions of the world. At the same time, past two decades witnessed, also, a dramatic increase in frequency, severity and geographic reach of financial crises.2 The recent financial and economic cris ...
3AECO – 6 Exchange rates - Economics Teachers` Association of
... between buyers and sellers but not within other countries. Australian producers of exports want to be paid in AUD while Japanese buyers of Australian exports pay in Yen. Somehow Yen must be converted into AUD (exchanged for AUD). • The problem is solved through foreign exchange markets (markets in c ...
... between buyers and sellers but not within other countries. Australian producers of exports want to be paid in AUD while Japanese buyers of Australian exports pay in Yen. Somehow Yen must be converted into AUD (exchanged for AUD). • The problem is solved through foreign exchange markets (markets in c ...
German Monetary Policy in the Second Half
... 11 The sum of government and private unilateral transfers and capital outflows was $6.8 billion in 1949. The figure fell to around $4 billion in the mid-1950s, but rose again to almost $7 billion in 1957 (U.S. Historical Statistics, Part 2, Series U 1-25, “Balance of International Payments: 1790 to ...
... 11 The sum of government and private unilateral transfers and capital outflows was $6.8 billion in 1949. The figure fell to around $4 billion in the mid-1950s, but rose again to almost $7 billion in 1957 (U.S. Historical Statistics, Part 2, Series U 1-25, “Balance of International Payments: 1790 to ...
NBER WORKING PAPER SERIES CURRENT ACCOUNT DYNAMICS AND MONETARY POLICY Andrea Ferrero
... adjustments could potentially create a complex balancing act for the Federal Reserve. Even if such a circumstance is remote, it is certainly worth exploring policy options under this kind of worst-case scenario. In this paper, accordingly, we explore the implications of current account imbalances fo ...
... adjustments could potentially create a complex balancing act for the Federal Reserve. Even if such a circumstance is remote, it is certainly worth exploring policy options under this kind of worst-case scenario. In this paper, accordingly, we explore the implications of current account imbalances fo ...
The Exchange Rate and the Interest Rate Differential in Kenya: A
... low and declining. That is, the economy has been on a deflationary trend since 1994, save for a few blips in 1997, and the exchange rate has been volatile. The paper analyses the relationship between real exchange rate movements and the real interest rate differential and their implications for shor ...
... low and declining. That is, the economy has been on a deflationary trend since 1994, save for a few blips in 1997, and the exchange rate has been volatile. The paper analyses the relationship between real exchange rate movements and the real interest rate differential and their implications for shor ...
NBER WORKING PAPER SERIES CURRENT ACCOUNT DYNAMICS AND MONETARY POLICY Andrea Ferrero
... adjustments could potentially create a complex balancing act for the Federal Reserve. Even if such a circumstance is remote, it is certainly worth exploring policy options under this kind of worst-case scenario. In this paper, accordingly, we explore the implications of current account imbalances fo ...
... adjustments could potentially create a complex balancing act for the Federal Reserve. Even if such a circumstance is remote, it is certainly worth exploring policy options under this kind of worst-case scenario. In this paper, accordingly, we explore the implications of current account imbalances fo ...
Inflation Targeting and the Liquidity Trap Bennett T. McCallum Carnegie Mellon University and
... framework. When one turns to empirically-oriented issues, however, it becomes important to work with a model that reflects more closely the properties of actual economies. Consequently, an open-economy model with slow price level adjustments and inertia in consumption demand is specified in Section ...
... framework. When one turns to empirically-oriented issues, however, it becomes important to work with a model that reflects more closely the properties of actual economies. Consequently, an open-economy model with slow price level adjustments and inertia in consumption demand is specified in Section ...
Exchange rate regimes in Latin America
... of inflation occurred in a context of rapid growth and robust external accounts- is a clear example of this. However, although a crawling band regime is much more flexible than a currency board, both Chile and Colombia found that it lacked enough flexibility to deal with capital flows and by the lat ...
... of inflation occurred in a context of rapid growth and robust external accounts- is a clear example of this. However, although a crawling band regime is much more flexible than a currency board, both Chile and Colombia found that it lacked enough flexibility to deal with capital flows and by the lat ...
BUSINESS COMBINATIONS
... securities depend on management intent, which refers to management’s objectives regarding disposition of securities. This intent rule can result in identical debt securities being separately classified into one or any combination of all three classes of trading, held-to-maturity, and available-for ...
... securities depend on management intent, which refers to management’s objectives regarding disposition of securities. This intent rule can result in identical debt securities being separately classified into one or any combination of all three classes of trading, held-to-maturity, and available-for ...
The Gold Standard, the Euro, and the Debt Crisis
... exchange rates of the participating countries moved within narrow limits approximating their respective gold points without the support of exchange restrictions, import quotas, or related controls.8 The authorities of the participating countries maintained these fixed prices by being willing to buy ...
... exchange rates of the participating countries moved within narrow limits approximating their respective gold points without the support of exchange restrictions, import quotas, or related controls.8 The authorities of the participating countries maintained these fixed prices by being willing to buy ...
Bruna(216)..pdf
... dynamics of the optimal main interest rate is influenced by the instability level of the economy structure and to what extent the central bank’s policy is consistent. The instability of the optimal main interest rate also results from the fact to what extent the inflation cycle, business cycle and r ...
... dynamics of the optimal main interest rate is influenced by the instability level of the economy structure and to what extent the central bank’s policy is consistent. The instability of the optimal main interest rate also results from the fact to what extent the inflation cycle, business cycle and r ...