1 How was the Quantitative Easing Program of the 1930s Unwound
... the start of the recession in 2008, short-term interest rates quickly hit the zero lower bound and central banks considered non-traditional monetary policies to stimulate their economies. These policies led to a massive buildup of excess reserves and have not quickly dispersed after QE ended. Since ...
... the start of the recession in 2008, short-term interest rates quickly hit the zero lower bound and central banks considered non-traditional monetary policies to stimulate their economies. These policies led to a massive buildup of excess reserves and have not quickly dispersed after QE ended. Since ...
monetary policy transmission mechanism onto the real economy
... So that monetary policy decision-makers to be able to properly assess the magnitude and sense of the measures taken, it is essential to understanding the monetary policy transmission channels to the real economy. Over time, for instance in the works of authors Belke and Polleit, were stroked the mon ...
... So that monetary policy decision-makers to be able to properly assess the magnitude and sense of the measures taken, it is essential to understanding the monetary policy transmission channels to the real economy. Over time, for instance in the works of authors Belke and Polleit, were stroked the mon ...
Assessing the Impact of Exchange Rate Risk on Banks Performance
... Prior to the monetary-approach emphasis of the 1970s, it was common to emphasize international trade flows as primary determinants of exchange rates. This was due, in part, to the fact that governments maintained tight restrictions on international flows of financial capital. The role of exchange ra ...
... Prior to the monetary-approach emphasis of the 1970s, it was common to emphasize international trade flows as primary determinants of exchange rates. This was due, in part, to the fact that governments maintained tight restrictions on international flows of financial capital. The role of exchange ra ...
Impact of the Euro adoption on the Economy of Latvia
... tuations of the euro and the US dollar are likely to occur also in the future, an inference can be made that the lats peg to the euro will completely eliminate lats fluctuations relative to euro, while Latvia's exporters to the countries of the US dollar bloc are likely to experience an 8.2% increa ...
... tuations of the euro and the US dollar are likely to occur also in the future, an inference can be made that the lats peg to the euro will completely eliminate lats fluctuations relative to euro, while Latvia's exporters to the countries of the US dollar bloc are likely to experience an 8.2% increa ...
Lecture 1 International Economics Introduction and
... – Court blocks seizure of luxury autos bound for China. Seizures had been in response to car companies trying to block re-exports of cars by a small Tennessee company. – China has become Germany's largest trading partner, as exports-plus-imports with China in 2016 surpassed both France and the US. ...
... – Court blocks seizure of luxury autos bound for China. Seizures had been in response to car companies trying to block re-exports of cars by a small Tennessee company. – China has become Germany's largest trading partner, as exports-plus-imports with China in 2016 surpassed both France and the US. ...
current politics and economics of europe
... governance and globalization. Monetary unification also raises practical implications; monetary policy has an effect on adjacent areas of policy-making and to the overall performance of the economy. The practical and theoretical significance of monetary union provided the impetus for the conference ...
... governance and globalization. Monetary unification also raises practical implications; monetary policy has an effect on adjacent areas of policy-making and to the overall performance of the economy. The practical and theoretical significance of monetary union provided the impetus for the conference ...
International Trade Finance and the Cost Channel of Monetary
... (NOEM) paradigm of Obstfeld et al. (1996).7 The world economy is assumed to consist of two countries of equal size. Households have preferences over domestic and foreign goods and supply labor to firms elastically. There are two sets of firms in each economy– production firms and trade firms. Prices ...
... (NOEM) paradigm of Obstfeld et al. (1996).7 The world economy is assumed to consist of two countries of equal size. Households have preferences over domestic and foreign goods and supply labor to firms elastically. There are two sets of firms in each economy– production firms and trade firms. Prices ...
The Interactions of Strength of Governments and Alternative
... They were enshrined in the Bretton Woods international monetary system to avoid the perceived disadvantages of both fixed and freely flexible exchange rate regimes. This compromise system worked well so long as international capital mobility was low, but as capital controls were relaxed and capital ...
... They were enshrined in the Bretton Woods international monetary system to avoid the perceived disadvantages of both fixed and freely flexible exchange rate regimes. This compromise system worked well so long as international capital mobility was low, but as capital controls were relaxed and capital ...
Link to Text - Johns Hopkins University
... hyperinflations in 1922-3 and immediately after the Second World War, and since then have had one of the world's soundest currencies. As West Germany's first prime minister, Konrad Adenauer, said, "Safeguarding the currency forms the prime condition for maintaining a market economy and, ultimately, ...
... hyperinflations in 1922-3 and immediately after the Second World War, and since then have had one of the world's soundest currencies. As West Germany's first prime minister, Konrad Adenauer, said, "Safeguarding the currency forms the prime condition for maintaining a market economy and, ultimately, ...
The euro as an international reserve currency: macroeconomic
... in official foreign currency reserves and that provide liquidity services to households, as they facilitate transactions for consumption purposes. We initially consider one internationally traded bond, issued by the US government and denominated in US dollars, and four government bonds (one for each ...
... in official foreign currency reserves and that provide liquidity services to households, as they facilitate transactions for consumption purposes. We initially consider one internationally traded bond, issued by the US government and denominated in US dollars, and four government bonds (one for each ...
Submissions on EMU from leading academics
... engineering can be useful nonetheless. If one wishes to control a variable, for instance inflation or the budget deficit, one can attempt to do so by writing down a feedback rule which changes a relevant instrument in order to correct a deviation of the targeted variable from its target value. It is ...
... engineering can be useful nonetheless. If one wishes to control a variable, for instance inflation or the budget deficit, one can attempt to do so by writing down a feedback rule which changes a relevant instrument in order to correct a deviation of the targeted variable from its target value. It is ...
Stories of the Twentieth Century for the Twenty
... systemic banking crises in the 1980s and 1990s. Around the same time, European countries also went through currency devaluation crises, in some cases related to banking crises. While painful, these crises were less frequent and generally less devastating than widespread cataclysms such as the 1980s ...
... systemic banking crises in the 1980s and 1990s. Around the same time, European countries also went through currency devaluation crises, in some cases related to banking crises. While painful, these crises were less frequent and generally less devastating than widespread cataclysms such as the 1980s ...
National Bank of the Republic of Macedonia
... interest among both the central banks and the research and academic society. From a central bank perspective it is important to have accurate measure of the course and intensity of monetary policy changes, as it allows monetary authorities to appropriately define future monetary policy decisions. Th ...
... interest among both the central banks and the research and academic society. From a central bank perspective it is important to have accurate measure of the course and intensity of monetary policy changes, as it allows monetary authorities to appropriately define future monetary policy decisions. Th ...
Exchange rate regimes in Latin America
... In Mexico, there was a severe balance of payments crisis in 1976, forcing the authorities to devalue for the first time in more than twenty years. After a year of sequential adjustments, the NER was fixed again in early 1977. The next big external shock came in 1979, when the U.S. Federal Reserve dr ...
... In Mexico, there was a severe balance of payments crisis in 1976, forcing the authorities to devalue for the first time in more than twenty years. After a year of sequential adjustments, the NER was fixed again in early 1977. The next big external shock came in 1979, when the U.S. Federal Reserve dr ...
John_Maynard_Keynes_Narrates_the_Great_Depression_Gide
... Settlements to have a positive effect on confidence, a foreshadowing of his emphasis at Bretton Woods ...
... Settlements to have a positive effect on confidence, a foreshadowing of his emphasis at Bretton Woods ...
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... said. This is particularly important to avoid ill-designed policy responses by frustrated countries such as trade protectionism - based on (more or less justified) accusations of beggar-thy-neighbour behaviour of trading partners. In the last decades, the economic literature on the relationship betw ...
... said. This is particularly important to avoid ill-designed policy responses by frustrated countries such as trade protectionism - based on (more or less justified) accusations of beggar-thy-neighbour behaviour of trading partners. In the last decades, the economic literature on the relationship betw ...
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... Zimbabwe. Talking about the redenomination, Zimbabwe is one country that is quite aggressive conduct of its currency redenomination. Recorded in the last 4 years, due to hyper inflation, Zimbabwe have been 3 times to the currency redenomination. Zimbabwe's main mistake was doing redenomination when ...
... Zimbabwe. Talking about the redenomination, Zimbabwe is one country that is quite aggressive conduct of its currency redenomination. Recorded in the last 4 years, due to hyper inflation, Zimbabwe have been 3 times to the currency redenomination. Zimbabwe's main mistake was doing redenomination when ...
The Asian Crises Reexamined
... resulted in ill-conceived reforms such as the IMF’s ill-fated Contingent Credit Line. We focus on the events in Asia in 1997, but use the plural crises rather than the more common crisis for two reasons. One is to stress that there were both currency and financial crises and these acted to reinforce ...
... resulted in ill-conceived reforms such as the IMF’s ill-fated Contingent Credit Line. We focus on the events in Asia in 1997, but use the plural crises rather than the more common crisis for two reasons. One is to stress that there were both currency and financial crises and these acted to reinforce ...
the short-term effect of economic releases on the exchange rate
... determination of prices. Researchers began examining the effects of economic releases1 on exchange rate movements in the early 1980s. However, their studies have often been quite contradictory. Ever since Meese and Rogoff (1983) failed to connect foreign exchange prices and fundamentals, researchers ...
... determination of prices. Researchers began examining the effects of economic releases1 on exchange rate movements in the early 1980s. However, their studies have often been quite contradictory. Ever since Meese and Rogoff (1983) failed to connect foreign exchange prices and fundamentals, researchers ...
The Equilibrium Exchange Rate: Alternative Concepts and
... in this framework. For example, the FEER can incorporate the impact of a potential difference in productivity growth between the two economies. This is the well-known Balassa-Samuelson effect. In this case, it becomes similar to the so-called adjusted purchasingpower-parity (PPP) approach (which adj ...
... in this framework. For example, the FEER can incorporate the impact of a potential difference in productivity growth between the two economies. This is the well-known Balassa-Samuelson effect. In this case, it becomes similar to the so-called adjusted purchasingpower-parity (PPP) approach (which adj ...
Exchange Rate Management within the Middle East
... countries been choosing the appropriate exchange rate arrangements? The question is complex. A great deal of research has been devoted to improving our understanding of how exchange rate regime choices are made, with two major branches of research emerging. The first branch has produced models of ex ...
... countries been choosing the appropriate exchange rate arrangements? The question is complex. A great deal of research has been devoted to improving our understanding of how exchange rate regime choices are made, with two major branches of research emerging. The first branch has produced models of ex ...
Tight Money in a Post-Crisis Defense of the Exchange Rate: What
... adverse effects of depreciation on the net worth of domestic financial institutions and firms (see Lane and others 1999). Because many firms and banks in the crisis countries had severe currency mismatches on their balance sheets, the imf feared that an excessive depreciation of the currency would e ...
... adverse effects of depreciation on the net worth of domestic financial institutions and firms (see Lane and others 1999). Because many firms and banks in the crisis countries had severe currency mismatches on their balance sheets, the imf feared that an excessive depreciation of the currency would e ...
The Libyan Asset Freeze and Its Application to Foreign Government
... establishment of a managed account system, -consisting of a current account with the New York office, and a call account with the London office.34 The LAFB, however, rejected the managed account proposal. 3 Bankers Trust Company revived the managed account system proposal in 1980 and reached an agre ...
... establishment of a managed account system, -consisting of a current account with the New York office, and a call account with the London office.34 The LAFB, however, rejected the managed account proposal. 3 Bankers Trust Company revived the managed account system proposal in 1980 and reached an agre ...
The duration of fixed exchange rate regimes Sébastien Wälti Trinity College Dublin
... regimes. These studies differ along several dimensions: exchange rate regime classification, identification of an exit, type of exit, time period, sample of countries, econometric methodology, and explanatory variables. The source of data varies greatly across studies. In turn, the procedure for the ...
... regimes. These studies differ along several dimensions: exchange rate regime classification, identification of an exit, type of exit, time period, sample of countries, econometric methodology, and explanatory variables. The source of data varies greatly across studies. In turn, the procedure for the ...