Japanese yen and East-Asian currencies: before and after the Asian
... determining the values of East Asian currencies has changed since the 1997 East Asian financial crisis. In particular, this paper focuses on the impact of the Japanese yen on the values of the Indonesian rupiah, the South Korean won, the Philippines peso and the Thai baht. The Malaysian ringgit whic ...
... determining the values of East Asian currencies has changed since the 1997 East Asian financial crisis. In particular, this paper focuses on the impact of the Japanese yen on the values of the Indonesian rupiah, the South Korean won, the Philippines peso and the Thai baht. The Malaysian ringgit whic ...
Exchange Rate Volatility and Democratization in Emerging Market
... Theoretically, these flows have been linked to contagion and volatility in the financial markets of emerging market economies (Calvo and Mendoza, 2000). And there is considerable anecdotal evidence that periods of financial instability are triggered by political events in young and incipient democra ...
... Theoretically, these flows have been linked to contagion and volatility in the financial markets of emerging market economies (Calvo and Mendoza, 2000). And there is considerable anecdotal evidence that periods of financial instability are triggered by political events in young and incipient democra ...
U.S. MartinJ. Bailey and George S. Tavias TRADE AND INVESTMENT UNDER FLOATING
... however, that this fact establishes that speculation was either irrational or insufficient. Overshooting: The Case of Sticky Prices Overshooting can occur in any portfolio model in which some markets do not adjust instantaneously. For example, Branson (1977), Dornbusch (1976), and Kouri (1976) have ...
... however, that this fact establishes that speculation was either irrational or insufficient. Overshooting: The Case of Sticky Prices Overshooting can occur in any portfolio model in which some markets do not adjust instantaneously. For example, Branson (1977), Dornbusch (1976), and Kouri (1976) have ...
ge07 Egert 4676541 en
... level of nontradable goods. If wages tend to equalize across the open and sheltered sectors, and prices in the sheltered sector are determined mainly by wage costs, the price of nontradable goods will be lower in the low-productivity country than in high-productivity countries. However, if the less ...
... level of nontradable goods. If wages tend to equalize across the open and sheltered sectors, and prices in the sheltered sector are determined mainly by wage costs, the price of nontradable goods will be lower in the low-productivity country than in high-productivity countries. However, if the less ...
mmi09 Beine2 9070836 en
... commodity and energy prices and the quick decrease in the size of the manufacturing sector show that there is a potential case for a Dutch disease in Canada. This has led a lot of policy makers to express big concerns about the seriousness of such a phenomenon in Canada. To what extent can we ascri ...
... commodity and energy prices and the quick decrease in the size of the manufacturing sector show that there is a potential case for a Dutch disease in Canada. This has led a lot of policy makers to express big concerns about the seriousness of such a phenomenon in Canada. To what extent can we ascri ...
Chapter 1 - Southwestern
... deposits are liabilities of banks. On the asset side, banks hold bonds, loans (which are claims against borrowers), and reserves of some of their deposits. Some bank reserves are held in cash and the rest in accounts at the central bank. Banks hold reserves in part to protect against daily excesses ...
... deposits are liabilities of banks. On the asset side, banks hold bonds, loans (which are claims against borrowers), and reserves of some of their deposits. Some bank reserves are held in cash and the rest in accounts at the central bank. Banks hold reserves in part to protect against daily excesses ...
Washington Consensus via IFIs - Law & Finance Institutional
... Originally, IMF was a special purpose lender for countries with balance of payment problems under older fixed rate currency exchange system Monitoring function only for countries in trouble under original system ...
... Originally, IMF was a special purpose lender for countries with balance of payment problems under older fixed rate currency exchange system Monitoring function only for countries in trouble under original system ...
Chapter 14
... full employment level YFE. – R is also fixed and independent of MS (depends on the supply and demand of saving in the economy and the inflation rate). **In the LR, the level of the MS does not influence the amount of real output nor the interest rate** ...
... full employment level YFE. – R is also fixed and independent of MS (depends on the supply and demand of saving in the economy and the inflation rate). **In the LR, the level of the MS does not influence the amount of real output nor the interest rate** ...
A Simple, Structural, and Empirical Model of the Antipodean Transmission Mechanism ∗
... across the Tasman Sea. This issue is of importance for the conduct of policy since Australia is at once New Zealand’s largest trading partner and her main competitor on export markets. Because of that and their close economic as well as geographic proximity, I treat both economies are well integrate ...
... across the Tasman Sea. This issue is of importance for the conduct of policy since Australia is at once New Zealand’s largest trading partner and her main competitor on export markets. Because of that and their close economic as well as geographic proximity, I treat both economies are well integrate ...
schnabl mmi08 6642029 en
... of the Chinese yuan (Goldstein 2003, Cheung, Chinn and Fujii 2005, Cline 2005, Frankel 2006, McKinnon and Schnabl 2006, Goodfriend and Prasad 2007). Proponents of a flexible yuan have stressed the need for macroeconomic flexibility in the economic catch-up process of the Chinese economy (Goldstein 2 ...
... of the Chinese yuan (Goldstein 2003, Cheung, Chinn and Fujii 2005, Cline 2005, Frankel 2006, McKinnon and Schnabl 2006, Goodfriend and Prasad 2007). Proponents of a flexible yuan have stressed the need for macroeconomic flexibility in the economic catch-up process of the Chinese economy (Goldstein 2 ...
The Capital Account and Pakistani Rupee Convertibility
... However, the process came to a sudden halt just a few months later. FCAs—which were freely allowed and had become popular with both resident and nonresident Pakistanis—were frozen literally overnight. This was a clumsy and poorly managed response to the imposition of severe economic and financial sa ...
... However, the process came to a sudden halt just a few months later. FCAs—which were freely allowed and had become popular with both resident and nonresident Pakistanis—were frozen literally overnight. This was a clumsy and poorly managed response to the imposition of severe economic and financial sa ...
determinants of the choice of exchange rate regime in resource
... The main objective of this research is to address these questions by focusing on the speci c determinants of the choice of exchange rate regime in RRCs. Given the nature of the dependent variable, which is a categorical variable that de nes dierent exchange rate regimes, we run multinomial logit re ...
... The main objective of this research is to address these questions by focusing on the speci c determinants of the choice of exchange rate regime in RRCs. Given the nature of the dependent variable, which is a categorical variable that de nes dierent exchange rate regimes, we run multinomial logit re ...
PAGE ONE Economics - Economic Research
... Even when you have money available to purchase goods and services, as in the accountant/ mechanic example, money’s ability to serve its functions has limits. High rates of inflation, for example, make money less useful in many ways. First, when inflation rates are very high, the longer you hold mone ...
... Even when you have money available to purchase goods and services, as in the accountant/ mechanic example, money’s ability to serve its functions has limits. High rates of inflation, for example, make money less useful in many ways. First, when inflation rates are very high, the longer you hold mone ...
Lecture slides, April 14
... • Coefficient on inßation is larger than one. This secures stability of model: — If ut+1 > 0, output and inßation increase — This increases the real interest rate, when the nominal rate responds by more than one to inßation — This reduces output and inßation, and brings back the economy to long-run eq ...
... • Coefficient on inßation is larger than one. This secures stability of model: — If ut+1 > 0, output and inßation increase — This increases the real interest rate, when the nominal rate responds by more than one to inßation — This reduces output and inßation, and brings back the economy to long-run eq ...
Modelling Monetary Transmission and Policy in China
... benchmark rate. Rural cooperatives were allowed twice the benchmark rate. The floor remains at 0.9 times the benchmark rate. Required reserves have been used by the PBC more often than interest rates. Initially, the requirement was differentiated by type of deposits. Later on, it was made uniform ac ...
... benchmark rate. Rural cooperatives were allowed twice the benchmark rate. The floor remains at 0.9 times the benchmark rate. Required reserves have been used by the PBC more often than interest rates. Initially, the requirement was differentiated by type of deposits. Later on, it was made uniform ac ...
Do China and oil exporters influence major currency configurations?
... It is of course difficult to gauge to what extent the magnitude of these estimates is economically relevant. Calculating the cumulated effect of EME statements by year shows that statements by EME officials led to an appreciation of the euro against the US dollar by as much as 7 percentage points i ...
... It is of course difficult to gauge to what extent the magnitude of these estimates is economically relevant. Calculating the cumulated effect of EME statements by year shows that statements by EME officials led to an appreciation of the euro against the US dollar by as much as 7 percentage points i ...
an evaluation of the contractionary devaluation
... Recently, many empirical studies resort to micro-level data to assess the impact of real exchange rate depreciations in the presence of currency mismatches. These studies have analyzed the impact of real exchange rate fluctuations on the dynamics of investment and employment. Bleakley and Cowan (200 ...
... Recently, many empirical studies resort to micro-level data to assess the impact of real exchange rate depreciations in the presence of currency mismatches. These studies have analyzed the impact of real exchange rate fluctuations on the dynamics of investment and employment. Bleakley and Cowan (200 ...
MONETARY SYSTEM Money Anything which has general
... Non Legal Tender Money – There is no legal compulsion to accept this money. It is also called optional money or Fiduciary Money (on the basis of trust). o E.g. – Nepalese currency at India – Nepal border may be used as but recipient is not legally bound to accept it. Fiat Money – Serves as money ...
... Non Legal Tender Money – There is no legal compulsion to accept this money. It is also called optional money or Fiduciary Money (on the basis of trust). o E.g. – Nepalese currency at India – Nepal border may be used as but recipient is not legally bound to accept it. Fiat Money – Serves as money ...
The Responses of U.S. Firms to Exchange Rate Fluctuations
... cannotprice-discriminateabroad-so thatpricedeviationsbetween, for example,the United States andGermanyfor U.S. productswill be arbitraged away-why does the process not work in reverse for German goods sold in the United States? DATA PROBLEMS. A fourth explanation is that the price data on which thes ...
... cannotprice-discriminateabroad-so thatpricedeviationsbetween, for example,the United States andGermanyfor U.S. productswill be arbitraged away-why does the process not work in reverse for German goods sold in the United States? DATA PROBLEMS. A fourth explanation is that the price data on which thes ...
Global Constraints on Central Banking: The Case of Turkey
... other words, all the barriers to the financial flows were lifted. In the 1980s, there were some attempts to let interest rates be determined within the banking system. In this vein, deposit rates were allowed to be determined by banking sector in the beginning of the 1980s though this was reversed i ...
... other words, all the barriers to the financial flows were lifted. In the 1980s, there were some attempts to let interest rates be determined within the banking system. In this vein, deposit rates were allowed to be determined by banking sector in the beginning of the 1980s though this was reversed i ...
Daily FX & Market Commentary
... This document is based on information provided by Citigroup Investment Research, Citigroup Global Markets, Citigroup Global Wealth Management and Citigroup Alternative Investments. It is provided for your information only. It is not intended as an offer or solicitation for the purchase or sale of an ...
... This document is based on information provided by Citigroup Investment Research, Citigroup Global Markets, Citigroup Global Wealth Management and Citigroup Alternative Investments. It is provided for your information only. It is not intended as an offer or solicitation for the purchase or sale of an ...
Practice Exam - Matthew H. Shapiro
... 30. (6 RP) A friend of yours needs to take out a 5 year loan to pay tuition. They can choose between two loans: One has a 3% interest for the duration of the loan. The other loan has an adjustable interest rate – it will change with the interest rate in the loanable funds market (currently 2.75%). B ...
... 30. (6 RP) A friend of yours needs to take out a 5 year loan to pay tuition. They can choose between two loans: One has a 3% interest for the duration of the loan. The other loan has an adjustable interest rate – it will change with the interest rate in the loanable funds market (currently 2.75%). B ...
International Conference on Economic and Social Studies, 10
... Dutch Disease is the model, which tries to explain the contradictory relationship between the greater exploitation of natural resources and a decline in the sector of natural resources. Theory suggests that an increase in foreign inflows currency from export of natural resources is associated with o ...
... Dutch Disease is the model, which tries to explain the contradictory relationship between the greater exploitation of natural resources and a decline in the sector of natural resources. Theory suggests that an increase in foreign inflows currency from export of natural resources is associated with o ...
