Global Imbalances: In Midstream?
... thus to correct the externalities through taxes or subsidies, and limit the risks taken by domestic borrowers through prudential regulation or controls on capital flows. E. Systemic Risks In addition, if countries with external imbalances are large and capital flows liquid, imbalances may lead to sy ...
... thus to correct the externalities through taxes or subsidies, and limit the risks taken by domestic borrowers through prudential regulation or controls on capital flows. E. Systemic Risks In addition, if countries with external imbalances are large and capital flows liquid, imbalances may lead to sy ...
CHAPTER 16—MACROECONOMIC POLICY IN AN OPEN
... from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. ...
... from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. ...
chapter 1
... that aim to make a riskless profit out of discrepancies between interest-rate differentials and what is known as the forward discount or forward premium. Forward premium: forward rate>spot rate Forward discount: forward rate
... that aim to make a riskless profit out of discrepancies between interest-rate differentials and what is known as the forward discount or forward premium. Forward premium: forward rate>spot rate Forward discount: forward rate
Domestic securities markets and monetary policy in Latin America
... adoption of the policy rate as an operational instrument. There is also evidence that the introduction of an interest rate band has allowed a faster adjustment of interbank interest rates (Lahura (2006)). 12 The evidence suggests a strengthening of this channel in recent years in Mexico as well, as ...
... adoption of the policy rate as an operational instrument. There is also evidence that the introduction of an interest rate band has allowed a faster adjustment of interbank interest rates (Lahura (2006)). 12 The evidence suggests a strengthening of this channel in recent years in Mexico as well, as ...
Seigniorage of Fiat Money and the Maqasid al-Shari`ah - e
... The Part I paper2 highlighted the many problems faced in present day economies particularly by developing nations due to the very definition or the nature of money itself — i.e. fiat money that has no intrinsic value of its own, but nonetheless deemed ‘legal tender’. Since fiat money of today compri ...
... The Part I paper2 highlighted the many problems faced in present day economies particularly by developing nations due to the very definition or the nature of money itself — i.e. fiat money that has no intrinsic value of its own, but nonetheless deemed ‘legal tender’. Since fiat money of today compri ...
Capital account liberalisation strategy
... according to the letter and intention of the law. However, many are building up their own FX reserves (primarily in Icelandic banks) as a buffer/hedge that limits their conversion to krónur. With effective controls in place, exchange rate developments will be determined largely by current account fl ...
... according to the letter and intention of the law. However, many are building up their own FX reserves (primarily in Icelandic banks) as a buffer/hedge that limits their conversion to krónur. With effective controls in place, exchange rate developments will be determined largely by current account fl ...
W o r k
... that they should be one of the basic ingredients in any theory of international economic fluctuations. However, a second, more puzzling set of stylized facts was pointed out by Baxter and Stockman (1989). For a range of countries, they show that the statistical properties of most other macroeconomic ...
... that they should be one of the basic ingredients in any theory of international economic fluctuations. However, a second, more puzzling set of stylized facts was pointed out by Baxter and Stockman (1989). For a range of countries, they show that the statistical properties of most other macroeconomic ...
Pages: 64
... change is the result of the interaction between different groups of debtors and creditors, driven by their perceived economic, political and ideological interests. Among major motives for the MR change is the desire of economic players to have greater access to resources and to participate in the pr ...
... change is the result of the interaction between different groups of debtors and creditors, driven by their perceived economic, political and ideological interests. Among major motives for the MR change is the desire of economic players to have greater access to resources and to participate in the pr ...
Exchange Rate Regime Choice with Multiple Key Currencies
... goods favor a fixed exchange rate since exchange rate volatility increases their risks. In contrast, individuals generating income from the production of non-tradable goods and services ought to prefer flexible exchange rates, which allow governments to use monetary policy to stimulate domestic econ ...
... goods favor a fixed exchange rate since exchange rate volatility increases their risks. In contrast, individuals generating income from the production of non-tradable goods and services ought to prefer flexible exchange rates, which allow governments to use monetary policy to stimulate domestic econ ...
this PDF file - Tazkia Islamic Finance and Business Review
... of fiat money by employed maslahah-mursalah approach. Besides that, the study discussed law of gold as money in light maqashid sharia, and Siyasah Syar’iyya approach, determine the obstacles and barriers to gold dinar implementation on the current economic system and to provide appropriate model and ...
... of fiat money by employed maslahah-mursalah approach. Besides that, the study discussed law of gold as money in light maqashid sharia, and Siyasah Syar’iyya approach, determine the obstacles and barriers to gold dinar implementation on the current economic system and to provide appropriate model and ...
Economic Effects of Currency Unions ∗ Silvana Tenreyro Robert J. Barro
... the independent decisions of these countries to peg —explicitly or de facto— to a third currency, notably that of a main anchor. Our approach is to use this component of the exchange rate regime as an IV in regressions of bilateral outcomes. We illustrate the methodology with one specific applicatio ...
... the independent decisions of these countries to peg —explicitly or de facto— to a third currency, notably that of a main anchor. Our approach is to use this component of the exchange rate regime as an IV in regressions of bilateral outcomes. We illustrate the methodology with one specific applicatio ...
View/Open
... allow us to examine the effect on agriculture exports of the devaluations in 1971 and 1973, the movement to floating exchange rates in 1973, the loose monetary policy from 1977-1979, and the tight monetary policy of the early 1980's. The oil shocks of 1973-74 and 1979-80 and the world recession of 1 ...
... allow us to examine the effect on agriculture exports of the devaluations in 1971 and 1973, the movement to floating exchange rates in 1973, the loose monetary policy from 1977-1979, and the tight monetary policy of the early 1980's. The oil shocks of 1973-74 and 1979-80 and the world recession of 1 ...
Thomas Plümper Department of Government, University of Essex Eric Neumayer
... trast, individuals generating income from the production of non-tradable goods and services ought to prefer flexible exchange rates, which allow governments to use monetary policy to stimulate domestic economic activity. As these authors readily admit (e.g., Frieden et al. 2008: 5), their theory la ...
... trast, individuals generating income from the production of non-tradable goods and services ought to prefer flexible exchange rates, which allow governments to use monetary policy to stimulate domestic economic activity. As these authors readily admit (e.g., Frieden et al. 2008: 5), their theory la ...
STUDY GUIDE FINAL ECO41 FALL 2011 UDAYAN ROY The final
... Which of the following is accurate? a. As the left panel of the figure above shows, an increase in the supply of money reduces the interest rate, provided the price level and the real GNP are unchanged. b. As the right panel of the figure above shows, an increase in the supply of money raises the in ...
... Which of the following is accurate? a. As the left panel of the figure above shows, an increase in the supply of money reduces the interest rate, provided the price level and the real GNP are unchanged. b. As the right panel of the figure above shows, an increase in the supply of money raises the in ...
Gold Price Modeling Using System Dynamics
... Figure 2 demonstrates all six major factors that affect inflow and outflow of gold price stock. The first five factors are the reinforced ones which increase gold price. (1) Consumer Price Index (CPI), the index used to measure inflation rate calculated from percent change in the overall goods and s ...
... Figure 2 demonstrates all six major factors that affect inflow and outflow of gold price stock. The first five factors are the reinforced ones which increase gold price. (1) Consumer Price Index (CPI), the index used to measure inflation rate calculated from percent change in the overall goods and s ...
International Economics, 10e (Krugman/Obstfeld/Melitz) Chapter 21
... A) the inflation rates of member countries converging to the low German levels, a result that was not matched by similar countries who did not fix their exchange rates. B) the inflation rates of member countries failing to converge to the low German levels. C) the inflation rates of member countries ...
... A) the inflation rates of member countries converging to the low German levels, a result that was not matched by similar countries who did not fix their exchange rates. B) the inflation rates of member countries failing to converge to the low German levels. C) the inflation rates of member countries ...
Searching for financial stability: the Mexican Moritz Cruz
... century was the first one in adopting as a strategy to prevent similar events the accumulation of international reserves, following once more the orthodox advice. This strategy has been applied, however, at no free cost. Some studies have shown that the excess of international reserves has a cost o ...
... century was the first one in adopting as a strategy to prevent similar events the accumulation of international reserves, following once more the orthodox advice. This strategy has been applied, however, at no free cost. Some studies have shown that the excess of international reserves has a cost o ...
Foreign currency assets and chargeable gains
... There is an exception for investment companies which have made a designated currency election. These companies will be required to use their designated currency if the designated currency is the functional currency the company would have had if it was a standalone entity. If the designated currency ...
... There is an exception for investment companies which have made a designated currency election. These companies will be required to use their designated currency if the designated currency is the functional currency the company would have had if it was a standalone entity. If the designated currency ...
Tilburg University Stability of Monetary Unions
... In his classical contribution, Mundell (1961) presents an example of a two-country world in which both countries are exposed to asymmetric demand shocks. In both countries, nominal wages are sticky and labor mobility is low. In the presence of asymmetric shocks, the countries can adjust the exchange ...
... In his classical contribution, Mundell (1961) presents an example of a two-country world in which both countries are exposed to asymmetric demand shocks. In both countries, nominal wages are sticky and labor mobility is low. In the presence of asymmetric shocks, the countries can adjust the exchange ...
NBER WORKING PAPER SERIES ADJUSTMENT IN THE WORLD ECONOMY
... deficit. Changes in budget deficits can in principle be reflected in changes in domestic investment rather than in changes in the external ...
... deficit. Changes in budget deficits can in principle be reflected in changes in domestic investment rather than in changes in the external ...
Public Choice Theory and the Transition Market Economy in Eastern
... Even with limited market reform, both types of centrally-planned economies were ultimately based on the principles of social ownership of the means of production and extensive central planning. Application of these principles led to fixed prices for all raw materials, products, and services, strict ...
... Even with limited market reform, both types of centrally-planned economies were ultimately based on the principles of social ownership of the means of production and extensive central planning. Application of these principles led to fixed prices for all raw materials, products, and services, strict ...
If You`re So Smart: John Maynard Keynes and Currency Speculation
... high volume of speculative activity on foreign exchange markets both in the interwar years and today is difficult to reconcile with the view that currency trading yields no returns at all. There are two kinds of currency speculators: discretionary, fundamentals-based traders who rely on their own an ...
... high volume of speculative activity on foreign exchange markets both in the interwar years and today is difficult to reconcile with the view that currency trading yields no returns at all. There are two kinds of currency speculators: discretionary, fundamentals-based traders who rely on their own an ...
Module - 13 Foreign Exchange Quotations
... Bill Selling Rate: Suppose an Indian importer has raised a bill to the foreign exporter. On the maturity of the bill, the Indian importer has to pay to the foreign counterpart through the bank. In this case, the bill selling rate would be applicable. In bill selling, the bank will pay foreign curren ...
... Bill Selling Rate: Suppose an Indian importer has raised a bill to the foreign exporter. On the maturity of the bill, the Indian importer has to pay to the foreign counterpart through the bank. In this case, the bill selling rate would be applicable. In bill selling, the bank will pay foreign curren ...
Simulation of Exchange Rates of Nigerian Naira
... an historical high of 157.85 in September of 2011 and a record low of 0.53 in October of 1980 with a depreciation rate of 4.78 percent against the US Dollar during the last 12 months of the year 2011 [29]. Different currencies are in use in different countries and their relation to each other is kno ...
... an historical high of 157.85 in September of 2011 and a record low of 0.53 in October of 1980 with a depreciation rate of 4.78 percent against the US Dollar during the last 12 months of the year 2011 [29]. Different currencies are in use in different countries and their relation to each other is kno ...
NBER WORKING PAPER SERIES MONETARY POLICY AND THE DOLLAR Peter L. Rousseau
... times of contracting for goods and paying for them are also eliminated, and could well increase trade among the member countries. For example, Rose (2000) estimates that the volume of trade within currency unions is three times greater than the members would conduct in the absence of a union. Though ...
... times of contracting for goods and paying for them are also eliminated, and could well increase trade among the member countries. For example, Rose (2000) estimates that the volume of trade within currency unions is three times greater than the members would conduct in the absence of a union. Though ...