tipec 04/1 - Trent University
... of the US; over 40% of Canada’s GNP now consist of exports, and over 80% of these exports go to the US. NAMU was portrayed as an obvious next step in the process of North American economic integration that began with the introduction of the Canada-US Free Trade Agreement in 1989. Although the debate ...
... of the US; over 40% of Canada’s GNP now consist of exports, and over 80% of these exports go to the US. NAMU was portrayed as an obvious next step in the process of North American economic integration that began with the introduction of the Canada-US Free Trade Agreement in 1989. Although the debate ...
On the Link between Dollarization and Inflation: Evidence
... in higher and more volatile inflation, for a given level of budget deficit (Nicholas 1974, Rojas-Suarez 1992);2 (ii) reduces the monetary authorities’ control over domestic liquidity both by increasing the component over which little direct influence can be exerted and by rendering money demand less ...
... in higher and more volatile inflation, for a given level of budget deficit (Nicholas 1974, Rojas-Suarez 1992);2 (ii) reduces the monetary authorities’ control over domestic liquidity both by increasing the component over which little direct influence can be exerted and by rendering money demand less ...
On the Link between Dollarization and Inflation: Evidence from Turkey* by
... in higher and more volatile inflation, for a given level of budget deficit (Nicholas 1974, Rojas-Suarez 1992);2 (ii) reduces the monetary authorities’ control over domestic liquidity both by increasing the component over which little direct influence can be exerted and by rendering money demand less ...
... in higher and more volatile inflation, for a given level of budget deficit (Nicholas 1974, Rojas-Suarez 1992);2 (ii) reduces the monetary authorities’ control over domestic liquidity both by increasing the component over which little direct influence can be exerted and by rendering money demand less ...
S01070561_en.pdf
... possible to protect their market share through further devaluations of the local currency. These regimes have, for the most part, been successful in reducing inflation (at least at first), but not in establishing a regime of sustained growth. When first implemented, most of these regimes have promot ...
... possible to protect their market share through further devaluations of the local currency. These regimes have, for the most part, been successful in reducing inflation (at least at first), but not in establishing a regime of sustained growth. When first implemented, most of these regimes have promot ...
Chapter 5: Financial markets - Rémi Bazillier
... Central banks change the supply of money by buying or selling bonds in the bond market If a central bank wants to increase the supply of money, they buy bonds and pay for them by creating money If a central bank wants to decrease the supply of money, they sell bonds and removes from the circulation ...
... Central banks change the supply of money by buying or selling bonds in the bond market If a central bank wants to increase the supply of money, they buy bonds and pay for them by creating money If a central bank wants to decrease the supply of money, they sell bonds and removes from the circulation ...
Figure I-1. The IS Curve Output Interest Rate IS
... Figure I-7. The Effects of Simultaneous Changes in Fiscal and Monetary Policy that Leave Output Unchanged ...
... Figure I-7. The Effects of Simultaneous Changes in Fiscal and Monetary Policy that Leave Output Unchanged ...
9 Exports, Imports, and International Investment M
... goods relative to foreign prices will work in the opposite direction. The prices of U.S. tradable goods can change relative to the price of foreign goods in two ways: first, and obviously, if the U.S. inflation rate is lower or higher than the average inflation rate of trading partners; and second, ...
... goods relative to foreign prices will work in the opposite direction. The prices of U.S. tradable goods can change relative to the price of foreign goods in two ways: first, and obviously, if the U.S. inflation rate is lower or higher than the average inflation rate of trading partners; and second, ...
Europe`s Great Depression: coordination failure after the First World
... or the ‘eternal triangle’, policy-makers in small economies have to choose one of the following four policy regimes as illustrated in Figure 2. It is noteworthy that in any case the choices of policy-makers will be interdependent. As we will see, policy-makers experimented with all four options duri ...
... or the ‘eternal triangle’, policy-makers in small economies have to choose one of the following four policy regimes as illustrated in Figure 2. It is noteworthy that in any case the choices of policy-makers will be interdependent. As we will see, policy-makers experimented with all four options duri ...
An Anchor of Gold - Federal Reserve Bank of Richmond
... amounts of gold into circulation, causing a “monetary shock” and a rise in the price level of goods. In addition, mining and minting gold is costly. Economist Milton Friedman once estimated that the resource price of producing gold and maintaining a full gold coin standard for the United States woul ...
... amounts of gold into circulation, causing a “monetary shock” and a rise in the price level of goods. In addition, mining and minting gold is costly. Economist Milton Friedman once estimated that the resource price of producing gold and maintaining a full gold coin standard for the United States woul ...
Lecture Notes 7 - Metropolitan State University
... try to influence growth, unemployment and inflation. Monetary policy generally has the same goals that fiscal policy does. Monetary policy is generally conducted by a country’s central bank. A central bank serves the following roles: 1. It regulates a country’s banks 2. It serves as a bank for banks ...
... try to influence growth, unemployment and inflation. Monetary policy generally has the same goals that fiscal policy does. Monetary policy is generally conducted by a country’s central bank. A central bank serves the following roles: 1. It regulates a country’s banks 2. It serves as a bank for banks ...
NBER WORKING PAPER SERIES COORDINATION OF MONETARY AND Warwick J. Mckibbin
... preserve a given peg. The so-called "N-i problem" underlines the fact that in a fixed regime of N countries, only N-i countries need to undertake the obligation ...
... preserve a given peg. The so-called "N-i problem" underlines the fact that in a fixed regime of N countries, only N-i countries need to undertake the obligation ...
A theory of the currency denomination of international trade
... model by allowing firms to take the invoicing decisions of other firms into account. This leads to strategic complementarities. Market share of the exporting country then becomes a critical factor. We consider both a two-country and multi-country version of the partial equilibrium model. The latter ...
... model by allowing firms to take the invoicing decisions of other firms into account. This leads to strategic complementarities. Market share of the exporting country then becomes a critical factor. We consider both a two-country and multi-country version of the partial equilibrium model. The latter ...
the volatility of somalia`s unregulated exchange rates
... Historically, the monetary system of Somalia was stable and its national currency (Somali Shilling) had very strong value but Somali shilling started to depreciate after 1980s and its value reached to a very low level. Somalia’s central government collapsed in 1990 following three decades of stabili ...
... Historically, the monetary system of Somalia was stable and its national currency (Somali Shilling) had very strong value but Somali shilling started to depreciate after 1980s and its value reached to a very low level. Somalia’s central government collapsed in 1990 following three decades of stabili ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... imaginary world free of market frictions. A brief discussion of adjustment mechanisms under the classical gold standard occupies section 4.3. Section 4.4 then describes how the central economic and financial features of the postwar world mandated rapid adjustment for deficit countries and at the sam ...
... imaginary world free of market frictions. A brief discussion of adjustment mechanisms under the classical gold standard occupies section 4.3. Section 4.4 then describes how the central economic and financial features of the postwar world mandated rapid adjustment for deficit countries and at the sam ...
The correlation of Demand and Supply shocks
... Production factors mobility, especially labor force (Mundell, 1961) - can reduce the need to adjust real factor prices, and the nominal exchange rate, between countries in response to disturbances. The level of economic openness (McKinnon, 1963, Alesina and Barro, 2002). Production and consump ...
... Production factors mobility, especially labor force (Mundell, 1961) - can reduce the need to adjust real factor prices, and the nominal exchange rate, between countries in response to disturbances. The level of economic openness (McKinnon, 1963, Alesina and Barro, 2002). Production and consump ...
Lecture 12 - uni
... economic agents expect monetary authorities to do in the future. • If expectations were to remain unchanged there is the temptation to abuse this fact by attempting to boost the economy through discretionary expansionary monetary policy. • If expectations will incorporate the expected outcome of suc ...
... economic agents expect monetary authorities to do in the future. • If expectations were to remain unchanged there is the temptation to abuse this fact by attempting to boost the economy through discretionary expansionary monetary policy. • If expectations will incorporate the expected outcome of suc ...
Lecture 12 - Goethe
... economic agents expect monetary authorities to do in the future. • If expectations were to remain unchanged there is the temptation to abuse this fact by attempting to boost the economy through discretionary expansionary monetary policy. • If expectations will incorporate the expected outcome of suc ...
... economic agents expect monetary authorities to do in the future. • If expectations were to remain unchanged there is the temptation to abuse this fact by attempting to boost the economy through discretionary expansionary monetary policy. • If expectations will incorporate the expected outcome of suc ...
RATE I Maurice Obsfeld AN
... assumption made below is that an economy-wide nominal wage is determined in advance of the period in which it is to prevail, with workers agreeing to supply all the labor required by employers during this period.5 Expected real wages rise gradually over time whenever the demand for labor by firms pe ...
... assumption made below is that an economy-wide nominal wage is determined in advance of the period in which it is to prevail, with workers agreeing to supply all the labor required by employers during this period.5 Expected real wages rise gradually over time whenever the demand for labor by firms pe ...
Why should the global reserve system be reformed?
... This system must be reformed. The central currency of the system as well as its alternatives lack what should be the essence of reserve currencies: a stable value. The system also contributes to the generation of payments imbalances, which can be reflected alternatively in inflationary or recessiona ...
... This system must be reformed. The central currency of the system as well as its alternatives lack what should be the essence of reserve currencies: a stable value. The system also contributes to the generation of payments imbalances, which can be reflected alternatively in inflationary or recessiona ...
IRRI-6 Weekly
... The amount of margin payable by members in respect of their outstanding IRRI-6 Rice futures contracts shall be determined by the Exchange. The Exchange will adjust margin requirements as and when volatility in the underlying changes. Margin shall be calculated on a gross basis on all open positions ...
... The amount of margin payable by members in respect of their outstanding IRRI-6 Rice futures contracts shall be determined by the Exchange. The Exchange will adjust margin requirements as and when volatility in the underlying changes. Margin shall be calculated on a gross basis on all open positions ...
Chapter 4: Financial Markets
... no interest. There are two types of money: currency and checkable deposits. Bonds, pay a positive interest rate, i, but they cannot be used for transactions. Wealth = Money + Bonds – How much of your saving should you hold as money? Depends on your level of ...
... no interest. There are two types of money: currency and checkable deposits. Bonds, pay a positive interest rate, i, but they cannot be used for transactions. Wealth = Money + Bonds – How much of your saving should you hold as money? Depends on your level of ...
Foreign Currency Transactions
... Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. ...
... Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. ...
International Aspects of U.S. Monetary and Fiscal Policy Paul Krugman* Introduction
... Since 1980 U.S. rr~acroeconomic policy has diverged from that of other major industrial countries. While most countries responded to the inflationary impact of the 1979 oil shock by tightening their fiscal policies, the influence of supply-side doctrine has led the United States into a dramatic fisc ...
... Since 1980 U.S. rr~acroeconomic policy has diverged from that of other major industrial countries. While most countries responded to the inflationary impact of the 1979 oil shock by tightening their fiscal policies, the influence of supply-side doctrine has led the United States into a dramatic fisc ...
Capital Flows and Financial Crises - E-Prints Complutense
... reasons for the emerging economies to adopt this kind of anchored exchangerate regime were: (1) the will to fight inflation (Mexico since 1987, Argentina since 1991 and Turkey since 1999) and/or (2) the desire to attract more foreign capital (East Asia since the early 1990s). The anchor, in fact, al ...
... reasons for the emerging economies to adopt this kind of anchored exchangerate regime were: (1) the will to fight inflation (Mexico since 1987, Argentina since 1991 and Turkey since 1999) and/or (2) the desire to attract more foreign capital (East Asia since the early 1990s). The anchor, in fact, al ...
Document
... Governments think expansion can reduce unemployment in the long run. They give low weight to price stability, or have high discount rates (e.g., political business cycle). Plans to set non-inflationary monetary policy are perceived by the public to be time-inconsistent. Governments want seig ...
... Governments think expansion can reduce unemployment in the long run. They give low weight to price stability, or have high discount rates (e.g., political business cycle). Plans to set non-inflationary monetary policy are perceived by the public to be time-inconsistent. Governments want seig ...