Some thoughts on the Inflation Outlook and Monetary Policy
... A relevant issue is how rapidly the Bank should seek to return inflation to the midpoint of the target band. There are important trade-offs here that can come at the expense of unnecessary volatility in output, interest rates, and the exchange rate – outcomes that, under the PTA, the Bank is require ...
... A relevant issue is how rapidly the Bank should seek to return inflation to the midpoint of the target band. There are important trade-offs here that can come at the expense of unnecessary volatility in output, interest rates, and the exchange rate – outcomes that, under the PTA, the Bank is require ...
ECON 202: APPLIED INTERNATIONAL MACROECONOMICS
... b. How strongly can the investment committee rely on these forecasts? 2. The university’s endowment fund takes a 10-year perspective on returns and risk. It is deciding whether to invest in the country you are studying. The investment committee needs to know a. Is the economy well-managed and stable ...
... b. How strongly can the investment committee rely on these forecasts? 2. The university’s endowment fund takes a 10-year perspective on returns and risk. It is deciding whether to invest in the country you are studying. The investment committee needs to know a. Is the economy well-managed and stable ...
Does Money Still Matter for Monetary Policy?
... system, the IOR rate should determine the fed funds rate, rather than the quantity of reserves alone as described in the opening paragraph of this essay. With excess reserves at an all-time high, measures of money have a renewed purpose, as outlined by Richmond Fed economists Huberto Ennis and Alexa ...
... system, the IOR rate should determine the fed funds rate, rather than the quantity of reserves alone as described in the opening paragraph of this essay. With excess reserves at an all-time high, measures of money have a renewed purpose, as outlined by Richmond Fed economists Huberto Ennis and Alexa ...
Jochen Garcke, Thomas Gerstner and Michael Griebel Intraday
... and solved on a certain sequence of conventional grids. The sparse grid solution is then obtained by a linear combination of the solutions from the different grids. It turns out that this method scales only linearly with the number of data points to be treated [11]. Thus, this approach is well suite ...
... and solved on a certain sequence of conventional grids. The sparse grid solution is then obtained by a linear combination of the solutions from the different grids. It turns out that this method scales only linearly with the number of data points to be treated [11]. Thus, this approach is well suite ...
Central bank`s objectives and structure
... Council members from various kinds of pressure, precisely determines the conditions for the appointment and removal from office, and guards against the conflict of interest Financial: revenues and expenditures of the CNB are solely determined by the nature of the monetary and exchange rate policie ...
... Council members from various kinds of pressure, precisely determines the conditions for the appointment and removal from office, and guards against the conflict of interest Financial: revenues and expenditures of the CNB are solely determined by the nature of the monetary and exchange rate policie ...
WORKING PAPER SERIES Estimates of Fundamental Real
... inherited from the first stage of transition may impose a serious financial constraint on the domestic economy. Only if a country was fortunate enough to start the pre-accession period with a low level of external indebtedness can trade deficits be financed easily and a stronger real exchange rate t ...
... inherited from the first stage of transition may impose a serious financial constraint on the domestic economy. Only if a country was fortunate enough to start the pre-accession period with a low level of external indebtedness can trade deficits be financed easily and a stronger real exchange rate t ...
A General Equilibrium Perspective of Aggregate Import Demand
... relationship says nothing about the direction of causation. Specifically, it does not follow that always and everywhere goods markets drive asset markets or, equivalently, that financial transactions accommodate the autonomous transactions in goods and services. Rather, the circular flow relationshi ...
... relationship says nothing about the direction of causation. Specifically, it does not follow that always and everywhere goods markets drive asset markets or, equivalently, that financial transactions accommodate the autonomous transactions in goods and services. Rather, the circular flow relationshi ...
Fluctuations in the Yen/Dollar Exchange Rate, East Asian Business
... we first reestimate eq. (1) using updated data for 1980-2002. Both Kwan and McKinnon-Schnabl use the growth rate of the United States as ∆y ( t ) on the grounds that for the EA countries as a whole the United States has been the single most important export market. However, as some EA countries trad ...
... we first reestimate eq. (1) using updated data for 1980-2002. Both Kwan and McKinnon-Schnabl use the growth rate of the United States as ∆y ( t ) on the grounds that for the EA countries as a whole the United States has been the single most important export market. However, as some EA countries trad ...
The Credit Channel in Middle Income Countries
... debt in foreign currency. Along the equilibrium path the amplification mechanism works as follows. An increase in the domestic lending rate leads to higher debt service obligations and thus implies that firms can now borrow less at each level of net worth. Lower borrowing results in lower investment ...
... debt in foreign currency. Along the equilibrium path the amplification mechanism works as follows. An increase in the domestic lending rate leads to higher debt service obligations and thus implies that firms can now borrow less at each level of net worth. Lower borrowing results in lower investment ...
The Euro after three years
... In sum, the performance of the real economy in the Euro’s first three years gives no indication that the ECB’s policy has been detrimental to the other macroeconomic targets in the Euro area. The slowdown in activity can be clearly related to a strong supply shock. Again the ECB followed the mainstr ...
... In sum, the performance of the real economy in the Euro’s first three years gives no indication that the ECB’s policy has been detrimental to the other macroeconomic targets in the Euro area. The slowdown in activity can be clearly related to a strong supply shock. Again the ECB followed the mainstr ...
Two Economic Crisis and Dollarization for Cambodia, Laos, and
... average market exchange rate for the exchange rate, and the foreign currency deposits and domestic currency (M1 and M2) for the holdings of foreign currency, are collected from the International Financial Statistics(IFS) provided by the International Monetary Fund(IMF). It is important to understand ...
... average market exchange rate for the exchange rate, and the foreign currency deposits and domestic currency (M1 and M2) for the holdings of foreign currency, are collected from the International Financial Statistics(IFS) provided by the International Monetary Fund(IMF). It is important to understand ...
Polish Hyperinflation And Stabilization 1989-1990
... Since 1985, these have been the type of processes which could be seen in Poland. Since 1985, the price inflation rate has been rising (from 15 % in 1985 to 244 % in 1989) and at the same time, shortages have been intensifying. This apparent paradox can easily be explained given the differential dyna ...
... Since 1985, these have been the type of processes which could be seen in Poland. Since 1985, the price inflation rate has been rising (from 15 % in 1985 to 244 % in 1989) and at the same time, shortages have been intensifying. This apparent paradox can easily be explained given the differential dyna ...
Assessing the Advantages of EMU-Enlargement for the
... The two accession groups are separated according to their entrance into accession negotiations (1998 for Accession Group I; 2000 for Accession Group II). Comparing their results with those EMU-members with the lowest per-capita income allows to determine the advantages of fixing in relative terms. T ...
... The two accession groups are separated according to their entrance into accession negotiations (1998 for Accession Group I; 2000 for Accession Group II). Comparing their results with those EMU-members with the lowest per-capita income allows to determine the advantages of fixing in relative terms. T ...
NBER WORKING PAPER SERIES MONETARY POLICIES IN INTERDEPENDENT ECONOMIES WITH STOCHASTIC DISTURBANCES:
... Finally, two alternative forms of monetary regimes are considered, namely, ...
... Finally, two alternative forms of monetary regimes are considered, namely, ...
Inflation Targeting in India: Issues and Prospects Raghbendra Jha
... Some authors have argued that for transition economies undergoing sustained financial liberalization and integration in world financial markets IT is an attractive monetary policy framework. Consequently there is pressure for such economies to adopt IT. This paper evaluates the case for IT in India. ...
... Some authors have argued that for transition economies undergoing sustained financial liberalization and integration in world financial markets IT is an attractive monetary policy framework. Consequently there is pressure for such economies to adopt IT. This paper evaluates the case for IT in India. ...
PDF
... The results of unit root tests and cointegration, the estimates for matrix A0 and the forecast errors variance decomposition are shown in tables 1 thru 9 in the Appendix. An error correction procedure was applied to the VARS model (Enders, 2004) because DF – GLS unit root tests indicated that all s ...
... The results of unit root tests and cointegration, the estimates for matrix A0 and the forecast errors variance decomposition are shown in tables 1 thru 9 in the Appendix. An error correction procedure was applied to the VARS model (Enders, 2004) because DF – GLS unit root tests indicated that all s ...
Historia-COLOMBIA TRADE POLICY-version mar06
... ECLAC (The United Nations Economic Commission for Latin America and the Caribbean) between the fifties and sixties. This view contrasts with previous work of Latin American historiography and has also been questioned more recently by North-American authors (see Coatsworth and Williamson (2002), Clem ...
... ECLAC (The United Nations Economic Commission for Latin America and the Caribbean) between the fifties and sixties. This view contrasts with previous work of Latin American historiography and has also been questioned more recently by North-American authors (see Coatsworth and Williamson (2002), Clem ...
... when characterizing the classification of regime. In the literature, there are two types of classification options. The first option is a “de jure” classification, which is also IMF’s classification that is based on the publicly stated commitment of the central bank. Every IMF member country is requ ...
Abstract
... opportunities. This industry is also capable to compete in international arena and has very important role in maintaining and enhancing competitive ability of industry, introduction of the Iran economy to world economy and expanding of small and medium enterprises. This paper aim to investigate the ...
... opportunities. This industry is also capable to compete in international arena and has very important role in maintaining and enhancing competitive ability of industry, introduction of the Iran economy to world economy and expanding of small and medium enterprises. This paper aim to investigate the ...
The Internationalization of Emerging Economy
... of the region’s finances and by extension international finance. On the other hand, there are demerits associated with the internationalization of a currency. As a country’s currency is used by economic entities in other countries, speculative funds could flow into the home country through external ...
... of the region’s finances and by extension international finance. On the other hand, there are demerits associated with the internationalization of a currency. As a country’s currency is used by economic entities in other countries, speculative funds could flow into the home country through external ...
Foreign exchange reserves - how much is enough?
... it is the underlying strength of the economy, and the ability to earn foreign exchange which are vital. In the Caribbean many countries consistently post current account deficits and rely on capital inflows to offset these deficits. However, where current account deficits become very large, dependen ...
... it is the underlying strength of the economy, and the ability to earn foreign exchange which are vital. In the Caribbean many countries consistently post current account deficits and rely on capital inflows to offset these deficits. However, where current account deficits become very large, dependen ...