PIIE Briefing 16-5: China`s New Economic Frontier: Overcoming
... China’s economy is at a pivotal moment, as it faces both imminent and long-term challenges that may significantly hamper the robust growth it has enjoyed in recent decades. Income inequality, increased debt, an aging population, shrinking labor force, and a slow transition from manufacturing to serv ...
... China’s economy is at a pivotal moment, as it faces both imminent and long-term challenges that may significantly hamper the robust growth it has enjoyed in recent decades. Income inequality, increased debt, an aging population, shrinking labor force, and a slow transition from manufacturing to serv ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Liberalization of the capital account is taken up in section 6.4. The key result of this section concerns the short-term effect of liberalization on the real exchange rate. When the prereform domestic interest rate exceeds the depreciation-adjusted world rate, the removal of impediments to private c ...
... Liberalization of the capital account is taken up in section 6.4. The key result of this section concerns the short-term effect of liberalization on the real exchange rate. When the prereform domestic interest rate exceeds the depreciation-adjusted world rate, the removal of impediments to private c ...
Zimbabwe’s Black Market for Foreign Exchange Albert Makochekanwa
... exchange constraint through its effects on capital flight and the recorded current account balance. ... Controlling inflation could become more difficult under high premium regimes (p.508)” The negative effects of the parallel exchange rate were also echoed by Kiguel and O’Connel (1995) when they sa ...
... exchange constraint through its effects on capital flight and the recorded current account balance. ... Controlling inflation could become more difficult under high premium regimes (p.508)” The negative effects of the parallel exchange rate were also echoed by Kiguel and O’Connel (1995) when they sa ...
Slide 1
... `Price stability is defined as a year-on-year increase in the HarmonizedIndex of Consumer Prices (HICP) for the euro area of below 2%. Price stability is to be maintained over the medium term´ `The governing council agreed that in the pursuit of price stability it will aim to maintain inflation rate ...
... `Price stability is defined as a year-on-year increase in the HarmonizedIndex of Consumer Prices (HICP) for the euro area of below 2%. Price stability is to be maintained over the medium term´ `The governing council agreed that in the pursuit of price stability it will aim to maintain inflation rate ...
editing method for the bulletin of the transilvania university
... rigorous exposition of David Hume’s “price-specie flow mechanism”, which ...
... rigorous exposition of David Hume’s “price-specie flow mechanism”, which ...
Chapter 26 Money and the Level of Income
... b. If the money supply does not change, then the Fed will have no effect on the interest rate. c. If the interest rate does not change, there is little reason to expect investment to change. Even if the interest rate does decrease, business may be reluctant to borrow when the demand for output is l ...
... b. If the money supply does not change, then the Fed will have no effect on the interest rate. c. If the interest rate does not change, there is little reason to expect investment to change. Even if the interest rate does decrease, business may be reluctant to borrow when the demand for output is l ...
Quantity of Money
... Nominal Interest Rates- the percentage increase in money that the borrower pays including inflation. Nominal = real interest rate + expected inflation Real Interest Rates-The percentage increase in purchasing power that a borrower pays. (adjusted for inflation) Real = nominal interest rate - expecte ...
... Nominal Interest Rates- the percentage increase in money that the borrower pays including inflation. Nominal = real interest rate + expected inflation Real Interest Rates-The percentage increase in purchasing power that a borrower pays. (adjusted for inflation) Real = nominal interest rate - expecte ...
Indian Currency, Exchange Rate Regime and Policy (PDF
... After independence the Frozen series (1947 to 1950) was introduced during the transition period of establishing the Indian republic. Coins completely made up of pure nickel were issued. As per this series Re.1 was equal to 16 annas, 1 anna was equal to 4 pice and 1 pice to 3 pies. The Anna series, i ...
... After independence the Frozen series (1947 to 1950) was introduced during the transition period of establishing the Indian republic. Coins completely made up of pure nickel were issued. As per this series Re.1 was equal to 16 annas, 1 anna was equal to 4 pice and 1 pice to 3 pies. The Anna series, i ...
Systemic Challenges in the International Monetary System
... pressure on deficit than on surplus countries to adjust expectations and external financing needs, as well as payments imbalances, and the liberalization of inter- by the openness of its capital account (e.g. Rey, 2013; national capital flows has introduced new forms of Ghosh et al., 2014). In boom ...
... pressure on deficit than on surplus countries to adjust expectations and external financing needs, as well as payments imbalances, and the liberalization of inter- by the openness of its capital account (e.g. Rey, 2013; national capital flows has introduced new forms of Ghosh et al., 2014). In boom ...
Money Demand, the Equilibrium Interest Rate, and Monetary Policy
... and the Price Level • The total demand for money in the economy depends on the total dollar volume of transactions made. • The total dollar volume of transactions, in turn, depends on the total number of transactions, and the average transaction amount. ...
... and the Price Level • The total demand for money in the economy depends on the total dollar volume of transactions made. • The total dollar volume of transactions, in turn, depends on the total number of transactions, and the average transaction amount. ...
An Introduction to International Money and Foreign Exchange Markets
... This study into the fundamentals of the international money and foreign exchange markets was undertaken while I was visiting professor at the University of Adelaide, Australia, July – November, 2004. I am grateful to the University of Adelaide for its hospitality which made this visit possible and t ...
... This study into the fundamentals of the international money and foreign exchange markets was undertaken while I was visiting professor at the University of Adelaide, Australia, July – November, 2004. I am grateful to the University of Adelaide for its hospitality which made this visit possible and t ...
Oil price volatility and exchange rate of USA dollar on
... component. This effect was found in the forest product such as forest products import or export quantity (Kim et al., 2003, Kim 2008, Koonnathamdee 2009 and Daigneault et al. 2008). There, exchange rate to rial had related to point of paper or wood products. Responses of forest products to exchange ...
... component. This effect was found in the forest product such as forest products import or export quantity (Kim et al., 2003, Kim 2008, Koonnathamdee 2009 and Daigneault et al. 2008). There, exchange rate to rial had related to point of paper or wood products. Responses of forest products to exchange ...
Putting the Cart Before the Horse? Capital Account Liberalization and
... Like their counterparts in many other emerging market economies, Chinese policymakers are facing a complex set of questions related to the desirability and appropriate mode of implementing exchange rate flexibility and capital account liberalization. The Chinese authorities have stated publicly that ...
... Like their counterparts in many other emerging market economies, Chinese policymakers are facing a complex set of questions related to the desirability and appropriate mode of implementing exchange rate flexibility and capital account liberalization. The Chinese authorities have stated publicly that ...
The Double Play: Simultaneous Speculative Attacks on Currency
... various phenomena that occur in the very short term money and asset markets during a speculative attack. Under normal circumstances, given the monetary authority’s preference, it will do all it can to maintain the exchange rate, i.e. raise interest rates as high as needed, intervene using its reserv ...
... various phenomena that occur in the very short term money and asset markets during a speculative attack. Under normal circumstances, given the monetary authority’s preference, it will do all it can to maintain the exchange rate, i.e. raise interest rates as high as needed, intervene using its reserv ...
DP2001/03 Would adopting the Australian dollar provide superior monetary policy in New Zealand?
... Rather than tackle all of this relatively large and complex problem we have focused our attention on the monetary policy channel, given that seems to be the area that has generated most of the debate. This allows us to simplify the problem considerably. The standard FPS model is used to represent th ...
... Rather than tackle all of this relatively large and complex problem we have focused our attention on the monetary policy channel, given that seems to be the area that has generated most of the debate. This allows us to simplify the problem considerably. The standard FPS model is used to represent th ...
Prasad-uce05-s 405386 en
... ways to get around capital controls. In addition, the experiences of numerous emerging market countries have shown the risks associated with maintaining a fixed exchange rate in tandem with a capital account that is open in either de jure or de facto terms, especially if there are weaknesses in the ...
... ways to get around capital controls. In addition, the experiences of numerous emerging market countries have shown the risks associated with maintaining a fixed exchange rate in tandem with a capital account that is open in either de jure or de facto terms, especially if there are weaknesses in the ...
CHAPTER 1
... important policy issues in an objective manner. You may have formed opinions about these issues after reading or seeing reports of low wages and poor working conditions offered by multinational corporations in developing countries. Making the Connection 183 offers a powerful description of the alter ...
... important policy issues in an objective manner. You may have formed opinions about these issues after reading or seeing reports of low wages and poor working conditions offered by multinational corporations in developing countries. Making the Connection 183 offers a powerful description of the alter ...
Speech by Tsvetan Manchev, BNB Deputy Governor, Member of the
... of the Bulgarian National Bank as “maintaining the price stability by ensuring the stability of the national currency and pursuing a monetary policy in accord with the provisions of this law”. This new definition of the main goal is not in contradiction with maintaining the currency board regime unt ...
... of the Bulgarian National Bank as “maintaining the price stability by ensuring the stability of the national currency and pursuing a monetary policy in accord with the provisions of this law”. This new definition of the main goal is not in contradiction with maintaining the currency board regime unt ...
PDF
... slightly affected as well. Therefore, the following discussion holds relatively the same, whether the restrictions have been imposed or not. Overall estimations are satisfactory in terms of that the estimated scale flexibilities are negative (implying normal goods), uncompensated own price flexibili ...
... slightly affected as well. Therefore, the following discussion holds relatively the same, whether the restrictions have been imposed or not. Overall estimations are satisfactory in terms of that the estimated scale flexibilities are negative (implying normal goods), uncompensated own price flexibili ...
What Drives Movements in Exchange Rates?
... increased investment, and greater net wealth offsetting whatever negative factors were at play in the earlier part of the sample period. Chart B1 also shows the predicted value of the exchange rate for a modified version of the AvN equation (MAvN), which includes an extra variable that allows the pa ...
... increased investment, and greater net wealth offsetting whatever negative factors were at play in the earlier part of the sample period. Chart B1 also shows the predicted value of the exchange rate for a modified version of the AvN equation (MAvN), which includes an extra variable that allows the pa ...
What Drives Movements in Exchange Rates?
... increased investment, and greater net wealth offsetting whatever negative factors were at play in the earlier part of the sample period. Chart B1 also shows the predicted value of the exchange rate for a modified version of the AVN equation (MAVN), which includes an extra variable that allows the pa ...
... increased investment, and greater net wealth offsetting whatever negative factors were at play in the earlier part of the sample period. Chart B1 also shows the predicted value of the exchange rate for a modified version of the AVN equation (MAVN), which includes an extra variable that allows the pa ...
CURRENCY COMPETITION VERSUS GOVERNMENTAL MONEY MONOPOLIES Roland Vaubel
... question which cannot be answered as long as free currency competition from private issuers is not permitted.’8 Monetary history does not provide a clear answer (Vaubel 1978a, pp. 387—401). Whether “Subsidies may be justified even if marginal cost pricing is not the aim (because the additional taxat ...
... question which cannot be answered as long as free currency competition from private issuers is not permitted.’8 Monetary history does not provide a clear answer (Vaubel 1978a, pp. 387—401). Whether “Subsidies may be justified even if marginal cost pricing is not the aim (because the additional taxat ...
International Accounting Standard 29 Financial Reporting in Hyperinflationary Economies Scope
... to changes in the general level of prices or to increases in specific prices of recognized assets or liabilities. The exception to this are those assets and liabilities that the entity is required, or chooses, to measure at fair value. For example, property, plant and equipment may be revalued to fa ...
... to changes in the general level of prices or to increases in specific prices of recognized assets or liabilities. The exception to this are those assets and liabilities that the entity is required, or chooses, to measure at fair value. For example, property, plant and equipment may be revalued to fa ...
Trade, Prices, and the Exchange Rate with Heterogeneous
... where cjN is the household j’s consumption of the nontraded good and cjT (ω) is its consumption of the differentiated variety ω ∈ Ω, where Ω is the continuum set of differentiated varieties sold at Home. The varieties can be Home or Foreign-produced. Parameters α and η stand for the level of substi ...
... where cjN is the household j’s consumption of the nontraded good and cjT (ω) is its consumption of the differentiated variety ω ∈ Ω, where Ω is the continuum set of differentiated varieties sold at Home. The varieties can be Home or Foreign-produced. Parameters α and η stand for the level of substi ...