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 ...
Economic Policy in Dollarized Economies with Special Review of
... World War II, the number of currencies has grown dramatically. Following inadequate economic policies, the existence of a great number of currencies proved to be misguided. In the last decade, a reverse trend has emerged – the number of world currencies has been reducing. Many economists, especially ...
... World War II, the number of currencies has grown dramatically. Following inadequate economic policies, the existence of a great number of currencies proved to be misguided. In the last decade, a reverse trend has emerged – the number of world currencies has been reducing. Many economists, especially ...
What are the causes of financial crisis?
... With pegged exchange rates, there is an alternative school of thought that currency values should be pegged to gold or some other standard of value and kept stable. Those who view exchange rates in these terms may saw the cause of the currency crises in the Asian countries as excessive expansion of ...
... With pegged exchange rates, there is an alternative school of thought that currency values should be pegged to gold or some other standard of value and kept stable. Those who view exchange rates in these terms may saw the cause of the currency crises in the Asian countries as excessive expansion of ...
The Japanese yen as an international currency*
... The Japanese Council on Foreign Exchange and Other Transactions (1999) pointed out some needs to internationalize the Japanese yen from international perspectives as well as from Japanese domestic perspectives. It stressed that internationalization of the Japanese yen would contribute to both the st ...
... The Japanese Council on Foreign Exchange and Other Transactions (1999) pointed out some needs to internationalize the Japanese yen from international perspectives as well as from Japanese domestic perspectives. It stressed that internationalization of the Japanese yen would contribute to both the st ...
Political Contagion in Currency Crises
... Theoretically, this appears relevant for Asian countries with significant exports to Japan or the United States. However, the trade magnitudes are probably still too small to explain contagion beginning in Thailand, even when both bilateral trade and third-market trade are included. An analogous arg ...
... Theoretically, this appears relevant for Asian countries with significant exports to Japan or the United States. However, the trade magnitudes are probably still too small to explain contagion beginning in Thailand, even when both bilateral trade and third-market trade are included. An analogous arg ...
© 21st Century Math Projects
... A.) Student will complete “Money Changers” which will practice the type of problems and develop the thinking necessary to complete the project. B.) Students will complete “World Traveler” where they develop functions and inverse to convert currency. Students will track spending and remaining conscio ...
... A.) Student will complete “Money Changers” which will practice the type of problems and develop the thinking necessary to complete the project. B.) Students will complete “World Traveler” where they develop functions and inverse to convert currency. Students will track spending and remaining conscio ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... 7%, and then enters into a swap to convert the dollar loan into INR. The counterparty of the swap may likely be an Indian company (Party B) that requires $2 million in U.S. funds. Likewise, the Indian company will be able to attain a cheaper borrowing rate domestically than abroad – let's say that t ...
... 7%, and then enters into a swap to convert the dollar loan into INR. The counterparty of the swap may likely be an Indian company (Party B) that requires $2 million in U.S. funds. Likewise, the Indian company will be able to attain a cheaper borrowing rate domestically than abroad – let's say that t ...
NBER WORKING PAPER SERIES ECONOMIC EFFECTS OF CURRENCY UNIONS Silvana Tenreyro
... underlying assumption in these studies is that currency unions are randomly assigned. As suggested before, unmeasured characteristics might create spurious links between currencyunion status and bilateral trade. For example, compatibility in legal systems, greater cultural links, better infrastructu ...
... underlying assumption in these studies is that currency unions are randomly assigned. As suggested before, unmeasured characteristics might create spurious links between currencyunion status and bilateral trade. For example, compatibility in legal systems, greater cultural links, better infrastructu ...
Current Evidence on the Resource Costs of Irredeemable Paper Money
... 1972–present. The former period represents the zenith of the international gold standard in the decades leading up to World War I. The latter period is instructive because it provides two distinct subperiods of increased gold investment, interspersed by a sub-period of declining gold prices and slac ...
... 1972–present. The former period represents the zenith of the international gold standard in the decades leading up to World War I. The latter period is instructive because it provides two distinct subperiods of increased gold investment, interspersed by a sub-period of declining gold prices and slac ...
Euro50 Group Meeting - Lorenzo Bini Smaghi
... Unfortunately, the reality appears to be quite different. Emerging Asian economies have not yet exited and do not seem to be in the mood to exit first, despite the stronger pace of their recovery, at least compared with that of the US. They continue to maintain strongly accommodative monetary polici ...
... Unfortunately, the reality appears to be quite different. Emerging Asian economies have not yet exited and do not seem to be in the mood to exit first, despite the stronger pace of their recovery, at least compared with that of the US. They continue to maintain strongly accommodative monetary polici ...
Foreign Exchange Intervention Since the Plaza Accord
... analysis, because it includes all government actions that affect the relative supplies of currencies. The burst of intervention with the Louvre Accord is not particularly noticeable compared with official flows after 2000. These massive flows appear to be strongly correlated with the rise of imbalan ...
... analysis, because it includes all government actions that affect the relative supplies of currencies. The burst of intervention with the Louvre Accord is not particularly noticeable compared with official flows after 2000. These massive flows appear to be strongly correlated with the rise of imbalan ...
27.4 Flexible Exchange Rates
... Copyright © 2002 Thomson Learning, Inc. Thomson Learning™ is a trademark used herein under license. ALL RIGHTS RESERVED. Instructors of classes adopting EXPLORING ECONOMICS, Second Edition by Robert L. Sexton as an assigned textbook may reproduce material from this publication for classroom use or i ...
... Copyright © 2002 Thomson Learning, Inc. Thomson Learning™ is a trademark used herein under license. ALL RIGHTS RESERVED. Instructors of classes adopting EXPLORING ECONOMICS, Second Edition by Robert L. Sexton as an assigned textbook may reproduce material from this publication for classroom use or i ...
Monetary unions, external shocks and economic performance: A Latin American perspective
... around the world have been published.4 Most of these works have analyzed empirically whether particular groups of countries — including Latin American nations — satisfy the traditional and basic criteria for joining a monetary union. In particular, most of these studies have analyzed: (a) the synchr ...
... around the world have been published.4 Most of these works have analyzed empirically whether particular groups of countries — including Latin American nations — satisfy the traditional and basic criteria for joining a monetary union. In particular, most of these studies have analyzed: (a) the synchr ...
Dollarization in Latin America Barry Comerford, Emmet Ryan and Marton Gyongyosi
... Let us examine the economic history of the continent in question. Why is it that Latin American countries seem forced to choose between two extremes - to float or to fix their exchange rates? In short, many intermediate possibilities have already been tried with limited success. In the 1960s there w ...
... Let us examine the economic history of the continent in question. Why is it that Latin American countries seem forced to choose between two extremes - to float or to fix their exchange rates? In short, many intermediate possibilities have already been tried with limited success. In the 1960s there w ...
NBER WORKING PAPER SERIES MONETARY UNIONS, EXTERNAL SHOCKS AND ECONOMIC
... policy makers have asked about the optimal number of currencies in the world economy. They have analyzed whether different countries satisfy the traditional “optimal currency area” criteria. These include, among other: (a) the synchronization of the business cycle; (b) the degree of factor mobility; ...
... policy makers have asked about the optimal number of currencies in the world economy. They have analyzed whether different countries satisfy the traditional “optimal currency area” criteria. These include, among other: (a) the synchronization of the business cycle; (b) the degree of factor mobility; ...
TRADING RULE PROFITS AND FOREIGN EXCHANGE MARKET
... It is well known that after the Bretton Woods agreement ended, many exchange rate regimes in developed countries went from fixed to floating, generating more variability in the nominal price of the domestic currency in terms of a foreign currency. In some periods this variability increased in such ...
... It is well known that after the Bretton Woods agreement ended, many exchange rate regimes in developed countries went from fixed to floating, generating more variability in the nominal price of the domestic currency in terms of a foreign currency. In some periods this variability increased in such ...
Exchange rate or inflation targeting in monetary policy?
... rate. It was the recent Nobel laureate Robert Mundell (1961) who first systematically stated the conditions that make a fixed exchange rate or monetary union a more attractive option than a flexible exchange rate. Firstly, there has to be a sufficient level of external trade for the gain from peggin ...
... rate. It was the recent Nobel laureate Robert Mundell (1961) who first systematically stated the conditions that make a fixed exchange rate or monetary union a more attractive option than a flexible exchange rate. Firstly, there has to be a sufficient level of external trade for the gain from peggin ...
A General Equilibrium Perspective of Aggregate Import Demand
... The monetary approach to the balance of payments provides one conceptual framework for illustrating the influence of the financial sector on import demand. The basic premise of the monetary approach is that in a monetised economy the money demand function and the money supply process should play a c ...
... The monetary approach to the balance of payments provides one conceptual framework for illustrating the influence of the financial sector on import demand. The basic premise of the monetary approach is that in a monetised economy the money demand function and the money supply process should play a c ...
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... dollarized ones. Given the very small number of observations for the dollarized group, and the low quality of the data, these results are subject to stronger caveats than usual, and should be interpreted with care.9 III. Panama’s Experience with Dollarization Supporters of “dollarization” have point ...
... dollarized ones. Given the very small number of observations for the dollarized group, and the low quality of the data, these results are subject to stronger caveats than usual, and should be interpreted with care.9 III. Panama’s Experience with Dollarization Supporters of “dollarization” have point ...
The Impossible Trinity: Where does India stand?
... to a more flexible exchange rate regime that continued till 2013 July. In the summer of 2013 when the US Federal Reserve chairman Ben Bernanke announced a possible tapering of its Quantitative Easing (QE) program, large amounts of foreign capital fled India to safety driven by risk aversion thereby ...
... to a more flexible exchange rate regime that continued till 2013 July. In the summer of 2013 when the US Federal Reserve chairman Ben Bernanke announced a possible tapering of its Quantitative Easing (QE) program, large amounts of foreign capital fled India to safety driven by risk aversion thereby ...
How Did Takahashi Korekiyo Rescue Japan from the Great
... 103–8660, Japan, E–mail: [email protected]. ...
... 103–8660, Japan, E–mail: [email protected]. ...
MONETARY POLICY AND TRANSITION IN SOUTHEAST EUROPE
... currency deposits in the broader definition of money supply – M2. These indicators can be misleading, however. Foreign currency in circulation, in some of these countries, is a major component of currency and asset substitution, but it is unmeasured. Thus, we are constrained to foreign currency depo ...
... currency deposits in the broader definition of money supply – M2. These indicators can be misleading, however. Foreign currency in circulation, in some of these countries, is a major component of currency and asset substitution, but it is unmeasured. Thus, we are constrained to foreign currency depo ...
Jeffrey THE FOUNDING OF THE FED Cambridge, MA 02138
... and Financial Chronicle) reports numbers such as "6+com", which means that the rate on loans was six percent plus commmissions, or "6 nom", which means that a rate of 6 was posted but there was little or no trading at this rate. Macaulay adjusts the reported numbers using information from the text o ...
... and Financial Chronicle) reports numbers such as "6+com", which means that the rate on loans was six percent plus commmissions, or "6 nom", which means that a rate of 6 was posted but there was little or no trading at this rate. Macaulay adjusts the reported numbers using information from the text o ...
On floating exchange rates, currency depreciation and effective
... the state of supply and demand in the foreign exchange market, while managed exchange rates are those set by the economic authorities and may vary in accordance with their objectives. Managed exchange rates, of course, may require some kind of control over capital movements (Thirlwall 2003, p. 90; S ...
... the state of supply and demand in the foreign exchange market, while managed exchange rates are those set by the economic authorities and may vary in accordance with their objectives. Managed exchange rates, of course, may require some kind of control over capital movements (Thirlwall 2003, p. 90; S ...
international money and the future of the sdr
... The Transactions Demand for Money Prior to the twentieth century, writers on money were not concerned to identify the precise nature of what have come to be called demand functions for money. Rather, classical economists had a twofold concern, first with the relationship between the money stock and ...
... The Transactions Demand for Money Prior to the twentieth century, writers on money were not concerned to identify the precise nature of what have come to be called demand functions for money. Rather, classical economists had a twofold concern, first with the relationship between the money stock and ...