The Collapse of the Argentine Economy
... viewed the Argentine peg as unsustainable (Anderson, 1999). Historically, larger economies have failed to maintain fixed exchange rates for more than a decade. Economists cite the loss of monetary independence, which reduces the ability of a country to respond to external shocks, as the primary draw ...
... viewed the Argentine peg as unsustainable (Anderson, 1999). Historically, larger economies have failed to maintain fixed exchange rates for more than a decade. Economists cite the loss of monetary independence, which reduces the ability of a country to respond to external shocks, as the primary draw ...
Lecture 1
... 1. Real versus nominal exchange rates 2. Exchange rate policy and welfare 3. The scourge of overvaluation 4. From exchange rate policy to economic growth 5. Exchange rate regimes To float or not to float ...
... 1. Real versus nominal exchange rates 2. Exchange rate policy and welfare 3. The scourge of overvaluation 4. From exchange rate policy to economic growth 5. Exchange rate regimes To float or not to float ...
External Sector Policies
... 1) Real versus nominal exchange rates 2) Exchange rate policy and welfare 3) The scourge of overvaluation 4) From exchange and trade policies to economic growth 5) Exchange rate regimes To float or not to float ...
... 1) Real versus nominal exchange rates 2) Exchange rate policy and welfare 3) The scourge of overvaluation 4) From exchange and trade policies to economic growth 5) Exchange rate regimes To float or not to float ...
THE OPTIMAL LEVEL OF RESERVES
... The Mexican Experience The mechanisms adopted allowed for a fast buildup of international reserves and promoted orderly conditions in the foreign exchange market in face of different shocks. This contributed to the development of a deep foreign exchange market. International Reserves and Foreign Ex ...
... The Mexican Experience The mechanisms adopted allowed for a fast buildup of international reserves and promoted orderly conditions in the foreign exchange market in face of different shocks. This contributed to the development of a deep foreign exchange market. International Reserves and Foreign Ex ...
Milton Friedman: Major Scientific Books and Articles "Professor
... Ideas of Milton Friedman • Positive economics is in principle independent of any particular ethical position or normative judgments … it deals with “what is,” not with “what ought to be.” • The ultimate goal of a positive science is … a theory or hypothesis that yields valid and meaningful predicti ...
... Ideas of Milton Friedman • Positive economics is in principle independent of any particular ethical position or normative judgments … it deals with “what is,” not with “what ought to be.” • The ultimate goal of a positive science is … a theory or hypothesis that yields valid and meaningful predicti ...
NBER WORKING PAPER SERIES THE LOGIC OF CURRENCY CRISES Maurice Obstfeld
... self—fulfilling attacks may occur. In earlier work, Gros (1992) studies a dynamic model in which realignment is driven by Interest rates and self-fulfilling attacks are possible. While Gros did not explicitly cast his model in a setting of policy optimization, it would not be hard to rationalize his ...
... self—fulfilling attacks may occur. In earlier work, Gros (1992) studies a dynamic model in which realignment is driven by Interest rates and self-fulfilling attacks are possible. While Gros did not explicitly cast his model in a setting of policy optimization, it would not be hard to rationalize his ...
The Feasibility and the Path Selection of Renminbi Regionalization
... 3.1.1Free liquidity of production elements in East Asian area is gradually enhanced The more easily Capital and labor flow, the more likely these countries compose optimum currency area. The elimination of tariff barriers and free movement of commodities, services, labour and capital within the comm ...
... 3.1.1Free liquidity of production elements in East Asian area is gradually enhanced The more easily Capital and labor flow, the more likely these countries compose optimum currency area. The elimination of tariff barriers and free movement of commodities, services, labour and capital within the comm ...
PALMA_Anglo-Portuguese Trade And Monetary Transmission
... side, there is a lot of exports from Portugal to England, especially of cotton (hence a colonial re-export), but there is an additional complication with American independence in 1776 England was cut of from such source (notice only in 1783 do we see this new country in the database). The success of ...
... side, there is a lot of exports from Portugal to England, especially of cotton (hence a colonial re-export), but there is an additional complication with American independence in 1776 England was cut of from such source (notice only in 1783 do we see this new country in the database). The success of ...
the choice of exchange rate regime
... domestic monetary aggregates will prevent the exchange rate depreciating, not be affected by external flows, may be tempted into inflationary and a monetary policy can be budgetary and monetary policies. pursued which is independent of, and does not need to have regard to, monetary policy in other c ...
... domestic monetary aggregates will prevent the exchange rate depreciating, not be affected by external flows, may be tempted into inflationary and a monetary policy can be budgetary and monetary policies. pursued which is independent of, and does not need to have regard to, monetary policy in other c ...
1. INTRODUCTION WHAT IS INTERNATIONAL ECONOMICS ABOUT
... policies usually affect other countries as well. When West Germany rai sed taxes and interest rates in 1981, all of Europe went into a recession; when the United States imposed a tariff on imports of lumber during 1986, the Canadian lumber industry experienced a crisis. Differences in goals between ...
... policies usually affect other countries as well. When West Germany rai sed taxes and interest rates in 1981, all of Europe went into a recession; when the United States imposed a tariff on imports of lumber during 1986, the Canadian lumber industry experienced a crisis. Differences in goals between ...
Will Asian Mercantilism Meet its
... policies that help sustain the savings surpluses. It turns out that about half of the overall surplus is in Asia, while the remainder is divided roughly equally between the oil exporters and western Europe. The United States is not the only significant deficit country. But it is much the most import ...
... policies that help sustain the savings surpluses. It turns out that about half of the overall surplus is in Asia, while the remainder is divided roughly equally between the oil exporters and western Europe. The United States is not the only significant deficit country. But it is much the most import ...
Currency Futures, Forex Futures
... fixed exchange rates make the producers more disciplined, i.e. they are forced to keep up with the quality of their production and to control the costs of the production to stay competitive compared to international enterprisers. This advantage of fixed exchange rates allows the government to decrea ...
... fixed exchange rates make the producers more disciplined, i.e. they are forced to keep up with the quality of their production and to control the costs of the production to stay competitive compared to international enterprisers. This advantage of fixed exchange rates allows the government to decrea ...
GLOBALIZATION OF CAPITAL AND TERMS OF TRADE MOVEMENTS Prabhat Patnaik
... if wealth-holders did not consider it to be "as good as gold", cannot simply function. Of course the dominant currency is not the only currency in terms of which wealth is held. There are several other currencies too which constitute receptacles of wealth. But a condition for their doing so is that ...
... if wealth-holders did not consider it to be "as good as gold", cannot simply function. Of course the dominant currency is not the only currency in terms of which wealth is held. There are several other currencies too which constitute receptacles of wealth. But a condition for their doing so is that ...
Parkin-Bade Chapter 34
... Nominal exchange rate is the value of the U.S. dollar expressed in units of foreign currency per U.S. dollar. The real exchange rate is the relative price of foreignproduced goods and services. It is a measure of the quantity of real GDP of other countries that we get for a unit of U.S. real GDP. ...
... Nominal exchange rate is the value of the U.S. dollar expressed in units of foreign currency per U.S. dollar. The real exchange rate is the relative price of foreignproduced goods and services. It is a measure of the quantity of real GDP of other countries that we get for a unit of U.S. real GDP. ...
Reserve Accumulation: Implications for Global Capital Flows and
... securities out of their portfolio or by issuing domestic currency securities in their own name (for example, central bank bills). The result is to drain the cash injected into the economy by the reserve purchase, leaving the monetary base unchanged. Table 2 provides a simple example of how sterilize ...
... securities out of their portfolio or by issuing domestic currency securities in their own name (for example, central bank bills). The result is to drain the cash injected into the economy by the reserve purchase, leaving the monetary base unchanged. Table 2 provides a simple example of how sterilize ...
Rumen_5_ALTERNATIVI_br2_2016
... currency that formally stabilized as the exchange rate to the US dollar remained constant until the official stabilization of the lev in 1928 (Russenov(ed),1983, p. 771). 1.2. Post-war Attempts for Gold Standard Restoration In 1922 a conference was held in Genoa with 34 participating countries that ...
... currency that formally stabilized as the exchange rate to the US dollar remained constant until the official stabilization of the lev in 1928 (Russenov(ed),1983, p. 771). 1.2. Post-war Attempts for Gold Standard Restoration In 1922 a conference was held in Genoa with 34 participating countries that ...
Chapter 10 - University of San Diego Home Pages
... In competitive markets free of transportation costs and trade barriers, identical products sold in different countries must sell for the same price when their price is expressed in terms of the same currency. Example: US/French exchange rate: $1 = FFr 5. A jacket selling for $50 in New York should r ...
... In competitive markets free of transportation costs and trade barriers, identical products sold in different countries must sell for the same price when their price is expressed in terms of the same currency. Example: US/French exchange rate: $1 = FFr 5. A jacket selling for $50 in New York should r ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... breakdown in that system. Before the war London had been ...
... breakdown in that system. Before the war London had been ...
Exchange Rate Regimes and Policies
... 1. Real versus nominal exchange rates 2. Exchange rate policy and welfare 3. The scourge of overvaluation 4. From exchange rate policy to economic growth 5. Exchange rate regimes To float or not to float ...
... 1. Real versus nominal exchange rates 2. Exchange rate policy and welfare 3. The scourge of overvaluation 4. From exchange rate policy to economic growth 5. Exchange rate regimes To float or not to float ...
Analysis of Convergence Criteria in a Proposed Monetary Union: A
... increases trade and vice-versa. Kilic, Bayar and Arica in their 2014 study of the effects of European Economic and Monetary Union on inflows of foreign direct investments to the Eurozone concluded that the Union contributes to the inflow of foreign direct investment into the Eurozone by reducing the ...
... increases trade and vice-versa. Kilic, Bayar and Arica in their 2014 study of the effects of European Economic and Monetary Union on inflows of foreign direct investments to the Eurozone concluded that the Union contributes to the inflow of foreign direct investment into the Eurozone by reducing the ...
Dollarization Versus a National Currency
... Palestinian State would issue its own currency with presumably the Palestinian Monetary Authority (PMA) as the implementer of an independent monetary policy or whether an externally issued currency would serve as the official legal tender for economic transactions. The latter option would be a de fa ...
... Palestinian State would issue its own currency with presumably the Palestinian Monetary Authority (PMA) as the implementer of an independent monetary policy or whether an externally issued currency would serve as the official legal tender for economic transactions. The latter option would be a de fa ...
Europe Will Form a Momentary Union Eventually
... not without their fears and fictions, and to this day full monetary union seems distant. By integrating, it is hoped the countries will have political, economic, and social progress without restrictions on the movement of goods, services, capital, and people. The countries are expected to be strengt ...
... not without their fears and fictions, and to this day full monetary union seems distant. By integrating, it is hoped the countries will have political, economic, and social progress without restrictions on the movement of goods, services, capital, and people. The countries are expected to be strengt ...
Changing views on how best to conduct monetary
... There are many aspects to this, but perhaps the most crucial is the empirical framework. All monetary policy decisions must be based on some idea of how decisions will affect the real world. In short, policymakers must conduct their policy within the framework of a model. This is not a statement tha ...
... There are many aspects to this, but perhaps the most crucial is the empirical framework. All monetary policy decisions must be based on some idea of how decisions will affect the real world. In short, policymakers must conduct their policy within the framework of a model. This is not a statement tha ...
Zuzana Kucerova
... might work effectively enough. But if regions cut across national boundaries or if countries are multiregional, then the argument for feasible exchange rates is only valid if currencies are reorganized on a regional basis.“ ...
... might work effectively enough. But if regions cut across national boundaries or if countries are multiregional, then the argument for feasible exchange rates is only valid if currencies are reorganized on a regional basis.“ ...
open economy
... transaction is an exchange. When a seller country transfers a good or service to a buyer country, the buyer country gives up some asset to pay for this good or service. The value of that asset equals the value of the good or service sold. When we add everything up, the net value of goods and service ...
... transaction is an exchange. When a seller country transfers a good or service to a buyer country, the buyer country gives up some asset to pay for this good or service. The value of that asset equals the value of the good or service sold. When we add everything up, the net value of goods and service ...