PROFESSIONAL BIOGRAPHY Allan H. Meltzer The Allan H. Meltzer
... An Analysis of Federal Reserve Monetary Policymaking, Washington, Banking and Currency Committee, 1964 (with Karl Brunner). The sections of this report have been published separately as well as under the titles Analysis of the Federal Reserve Approach to Policymaking (Feb., 1964), The Federal Reserv ...
... An Analysis of Federal Reserve Monetary Policymaking, Washington, Banking and Currency Committee, 1964 (with Karl Brunner). The sections of this report have been published separately as well as under the titles Analysis of the Federal Reserve Approach to Policymaking (Feb., 1964), The Federal Reserv ...
the appropriateness of intermediate monetary
... this arrangement, these countries were expected to maintain fixed exchange rates against the United States (US) dollar, within a band. Most of these countries also imposed exchange controls on their capital accounts to protect their economies from international inflation. Also in the 1970s, culminat ...
... this arrangement, these countries were expected to maintain fixed exchange rates against the United States (US) dollar, within a band. Most of these countries also imposed exchange controls on their capital accounts to protect their economies from international inflation. Also in the 1970s, culminat ...
Demand Imbalances, Exchange Rate Misalignment and Monetary Policy
... European Central Bank and CEPR Sylvain Leduc Federal Reserve Bank of San Francisco This version: November 2010 Abstract In standard open macro models with incomplete markets, inward-looking monetary policies like strict inflation targeting may result in (rather than correcting) misalignments in asse ...
... European Central Bank and CEPR Sylvain Leduc Federal Reserve Bank of San Francisco This version: November 2010 Abstract In standard open macro models with incomplete markets, inward-looking monetary policies like strict inflation targeting may result in (rather than correcting) misalignments in asse ...
CURRENCY BOARDS Steve H. Hanke and Kurt Schuler
... A sound currency serves as a satisfactory store of value, medium of exchange, and unit of account. An unsound currency such as the ruble does not fulfill any of those functions. An unsound currency is not a reliable store of value because inflation makes its value highly unpredictable. As a result, ...
... A sound currency serves as a satisfactory store of value, medium of exchange, and unit of account. An unsound currency such as the ruble does not fulfill any of those functions. An unsound currency is not a reliable store of value because inflation makes its value highly unpredictable. As a result, ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... from an idealized single, global market.10 These real-world features and frictions raise cautionary flags about a more complacent view of global imbalances and the large shocks—including uneven economic and fiscal expansions—that have accompanied them. The key question from the mainstream is not if ...
... from an idealized single, global market.10 These real-world features and frictions raise cautionary flags about a more complacent view of global imbalances and the large shocks—including uneven economic and fiscal expansions—that have accompanied them. The key question from the mainstream is not if ...
Master of Science in Economics and Business Administration
... supervision of financial institutions, etc. India has already made visible progress on these fronts [...] While there are risks associated with full capital account convertibility, resisting liberalisation over an extended period may prove futile and counterproductive. As the economy gets more globa ...
... supervision of financial institutions, etc. India has already made visible progress on these fronts [...] While there are risks associated with full capital account convertibility, resisting liberalisation over an extended period may prove futile and counterproductive. As the economy gets more globa ...
Central banking in an open economy: Rist and
... was representative of the critics from English economists towards French economists: “I daresay I have chosen Mr. Hawtrey‟s articles as typical of the English attitude towards French policy, because he is considered, on this side of the Channel, as the strongest critic of this policy and one of the ...
... was representative of the critics from English economists towards French economists: “I daresay I have chosen Mr. Hawtrey‟s articles as typical of the English attitude towards French policy, because he is considered, on this side of the Channel, as the strongest critic of this policy and one of the ...
The History of Money - Dr. Francisco J. Collazo
... market in all other commodities more liquid. David Graeber’s View of the Barter System: In his book Deb: “The First 5000 Years,” anthropologist David Graeber refutes the suggestion that money was invented to replace the barter system and lacks supporting evidence. His research indicates that 'gift e ...
... market in all other commodities more liquid. David Graeber’s View of the Barter System: In his book Deb: “The First 5000 Years,” anthropologist David Graeber refutes the suggestion that money was invented to replace the barter system and lacks supporting evidence. His research indicates that 'gift e ...
laura a. wolff - Pearson Higher Education
... 19. The requirement that borrowing nations change their policies so that the economic crisis cannot recur as a condition of taking a loan __________________ 20. The right of nations to pursue domestic policies that they perceive to be in their national interest and to be free from the intervention o ...
... 19. The requirement that borrowing nations change their policies so that the economic crisis cannot recur as a condition of taking a loan __________________ 20. The right of nations to pursue domestic policies that they perceive to be in their national interest and to be free from the intervention o ...
ge14 Fidrmuc
... expanding exports (Bussière et al., 2008) and large foreign direct investment (FDI) flows (Eichengreen & Tong, 2005). Not surprisingly, growth in the world’s most populous country has changed the distribution of economic activities across the world. According to the International Monetary Fund (IMF) ...
... expanding exports (Bussière et al., 2008) and large foreign direct investment (FDI) flows (Eichengreen & Tong, 2005). Not surprisingly, growth in the world’s most populous country has changed the distribution of economic activities across the world. According to the International Monetary Fund (IMF) ...
money and exchange-rate regimes
... is placed under discussion by “Say’s Law of Markets”, the principle accepted by those who see money as neutral and markets as self-regulating, but neglected by others. The view on whether markets know better than governments is related to the conception of money being adopted, and is also embodied i ...
... is placed under discussion by “Say’s Law of Markets”, the principle accepted by those who see money as neutral and markets as self-regulating, but neglected by others. The view on whether markets know better than governments is related to the conception of money being adopted, and is also embodied i ...
PDF file - AgEcon Search
... of the Sudanese pound and its currency regime. Exchange rate of the Sudanese pound against US dollars has appreciated to about 21% in 2006/07, raising many concerns about the competitiveness of the Sudanese agricultural exports. In analyzing the ...
... of the Sudanese pound and its currency regime. Exchange rate of the Sudanese pound against US dollars has appreciated to about 21% in 2006/07, raising many concerns about the competitiveness of the Sudanese agricultural exports. In analyzing the ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... hoc measures were taken to stem the deteriorating tide of the Nigerian economy from the late 1970s to early 1980s, it was until 1986 that a comprehensive economic adjustment programme was put in place to restructure the economy. Exchange rate reform was a major component of this economic reform agen ...
... hoc measures were taken to stem the deteriorating tide of the Nigerian economy from the late 1970s to early 1980s, it was until 1986 that a comprehensive economic adjustment programme was put in place to restructure the economy. Exchange rate reform was a major component of this economic reform agen ...
Currency Invoicing of US Imports - Department of Economics
... of total output. Since, the profit function is concave in the foreign price, less fluctuations in foreign and domestic revenue is more desirable. Since the fluctuations are largest when exports are invoiced in a third currency, invoicing in either the importer’s or the exporter’s currency dominates ...
... of total output. Since, the profit function is concave in the foreign price, less fluctuations in foreign and domestic revenue is more desirable. Since the fluctuations are largest when exports are invoiced in a third currency, invoicing in either the importer’s or the exporter’s currency dominates ...
Topic H
... level of risk may depend upon various factors, including the scale of operations of the business and the degree to which its proprietors or shareholders are risk-averse. • (b) Secondly, a business may wish to avoid particular kinds of risks. For example, a business may be averse to taking risks with ...
... level of risk may depend upon various factors, including the scale of operations of the business and the degree to which its proprietors or shareholders are risk-averse. • (b) Secondly, a business may wish to avoid particular kinds of risks. For example, a business may be averse to taking risks with ...
Implementation Gold Dinar: Is It Feasible?
... exchanged for Ringgit. This business look like profitable business but it can be loses due to currency fluctuation. Hence, it is crucial for businesses to manage this foreign exchange risk so that they may focus on what they are good at and eliminate or minimize a risk that is not their trade. The G ...
... exchanged for Ringgit. This business look like profitable business but it can be loses due to currency fluctuation. Hence, it is crucial for businesses to manage this foreign exchange risk so that they may focus on what they are good at and eliminate or minimize a risk that is not their trade. The G ...
Fixing Argentina Executive Summary by Kurt Schuler No. 445
... equal to its monetary liabilities, overvaluation in this sense could not occur, because a peso was simply a kind of coatroom ticket to a dollar. At times during the life of the convertibility system, the central bank held pure foreign reserves (that is, not counting Argentine government bonds) that ...
... equal to its monetary liabilities, overvaluation in this sense could not occur, because a peso was simply a kind of coatroom ticket to a dollar. At times during the life of the convertibility system, the central bank held pure foreign reserves (that is, not counting Argentine government bonds) that ...
Monetary Policy Management in Nigeria in the Context of Uncertainty
... situation and Policy Objectives which have remained broadly the same over the years - Price stability; sound financial system, balance of payments viability and economic growth and development. ...
... situation and Policy Objectives which have remained broadly the same over the years - Price stability; sound financial system, balance of payments viability and economic growth and development. ...
Net capital flows and real exchange rate depreciation effects on the business cycle in emerging market:
... measure the rate between the domestic currency and the foreign currencies in which EMs tend to have denominated their foreign liabilities. Thus, an advantage of using this index is precisely its focus on the real exchange rate between borrowers and lenders, which has been the centre of discussion in ...
... measure the rate between the domestic currency and the foreign currencies in which EMs tend to have denominated their foreign liabilities. Thus, an advantage of using this index is precisely its focus on the real exchange rate between borrowers and lenders, which has been the centre of discussion in ...
Reconciling Switzerland`s minimum exchange rate and current
... The massive Swiss franc appreciation left the SNB with few options to combat the restrictive monetary conditions. As a result of the response to the global financial crisis of 2008/2009, our policy rate was already at the lower bound. In August 2011, in a first step to counter the excessively tight ...
... The massive Swiss franc appreciation left the SNB with few options to combat the restrictive monetary conditions. As a result of the response to the global financial crisis of 2008/2009, our policy rate was already at the lower bound. In August 2011, in a first step to counter the excessively tight ...
An Introduction to International Money and Foreign Exchange Markets
... system consists of the central bank together with the commercial banks. Table 1.1 lists the top ten commercial banks in the USA as of 31 March 2004, ranked by consolidated assets. It shows, for example, that the largest bank has assets worth almost $ 700 billion, that some banks have large assets ab ...
... system consists of the central bank together with the commercial banks. Table 1.1 lists the top ten commercial banks in the USA as of 31 March 2004, ranked by consolidated assets. It shows, for example, that the largest bank has assets worth almost $ 700 billion, that some banks have large assets ab ...
The Renminbi and Exchange Rate Regimes in East Asia
... The recent rise of the PRC as the world’s largest trading nation (measured by trade value) and second largest economic power (measured by GDP) has been accompanied by the PRC’s greater economic influence over emerging economies in East Asia.1 The dependence of these economies on the PRC through trad ...
... The recent rise of the PRC as the world’s largest trading nation (measured by trade value) and second largest economic power (measured by GDP) has been accompanied by the PRC’s greater economic influence over emerging economies in East Asia.1 The dependence of these economies on the PRC through trad ...
Two Economic Crisis and Dollarization for Cambodia, Laos, and
... currency), of the banking sector. There is no necessary one on one relation between the level of F and that of the actual stock of foreign currency(the U.S. dollar), but we may assume implicitly that the FCD changes proportionally in response to changes of the actual stock of U.S. dollars in the eco ...
... currency), of the banking sector. There is no necessary one on one relation between the level of F and that of the actual stock of foreign currency(the U.S. dollar), but we may assume implicitly that the FCD changes proportionally in response to changes of the actual stock of U.S. dollars in the eco ...
Fundamentals, Contagion and Currency Crises
... Non-structural models of currency crises fall into two broad categories: those based on non-parametric tests and those based on probit regressions. The nonparametric approach was popularised by Eichengreen, Rose and Wyplosz (1995). Using quarterly data for members of the exchange rate mechanism (ERM ...
... Non-structural models of currency crises fall into two broad categories: those based on non-parametric tests and those based on probit regressions. The nonparametric approach was popularised by Eichengreen, Rose and Wyplosz (1995). Using quarterly data for members of the exchange rate mechanism (ERM ...
Inflation, exchange rates and the role of monetary policy in
... year of economic collapse, social disorder and widespread emigration. The turnaround began in 1992 when stabilisation measures were introduced through a one-year reform programme. Under this programme, annual inflation was to be reduced to below 20 per cent. (At one point in autumn 1992, inflation w ...
... year of economic collapse, social disorder and widespread emigration. The turnaround began in 1992 when stabilisation measures were introduced through a one-year reform programme. Under this programme, annual inflation was to be reduced to below 20 per cent. (At one point in autumn 1992, inflation w ...