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Chapter 13 Exchange Rates, Business Cycles, and Macroeconomic
... If all countries produce the same good (or the same set of goods) and goods are freely traded among countries, so that the real exchange rate equals one, then the relationship between domestic and foreign prices and the nominal exchange rate is (a) P = PFor / enom. (b) P = enom / PFor. (c) enom = P ...
... If all countries produce the same good (or the same set of goods) and goods are freely traded among countries, so that the real exchange rate equals one, then the relationship between domestic and foreign prices and the nominal exchange rate is (a) P = PFor / enom. (b) P = enom / PFor. (c) enom = P ...
NBER WORKING PAPER SERIES INTERNATIONAL BORROWING, CAPITAL CONTROLS AND THE EXCHANGE RATE:
... in terms of output and employment. Unlike other countries in the region, the crisis was not caused by fiscal imbalances, but triggered by a deteriorating international environment, a misaligned exchange rate and a weak financial system. Indeed, it started before Mexico announced that it could not me ...
... in terms of output and employment. Unlike other countries in the region, the crisis was not caused by fiscal imbalances, but triggered by a deteriorating international environment, a misaligned exchange rate and a weak financial system. Indeed, it started before Mexico announced that it could not me ...
Real Exchange Rates for the Year 2000
... data from the International Financial Statistics (IFS) published by the IMF and the Quarterly National Accounts (QNA) and Monthly Economic Indicators (MEI) published by the OECD. The series are extracted for the G7 countries (Japan, the United States, Canada, the United Kingdom, France, Italy, and G ...
... data from the International Financial Statistics (IFS) published by the IMF and the Quarterly National Accounts (QNA) and Monthly Economic Indicators (MEI) published by the OECD. The series are extracted for the G7 countries (Japan, the United States, Canada, the United Kingdom, France, Italy, and G ...
Slowdown in growth in the emerging market economies
... market economies of eastern Europe, the reduced pace of growth reflects a return to more normal circumstances, now that the high rates of growth seen immediately prior to the financial crisis have proven to be unsustainable. More moderate investment levels and neglect of the economic policy reform c ...
... market economies of eastern Europe, the reduced pace of growth reflects a return to more normal circumstances, now that the high rates of growth seen immediately prior to the financial crisis have proven to be unsustainable. More moderate investment levels and neglect of the economic policy reform c ...
Exchange Rate Theories
... international reserve flows, yet some sterilization is possible, in which case b will lie between 0 and 1. Evidence has, in fact, suggested both extremes as well as intermediate values for b. It is reasonable to interpret the evidence regarding sterilization as indicating that central banks are able ...
... international reserve flows, yet some sterilization is possible, in which case b will lie between 0 and 1. Evidence has, in fact, suggested both extremes as well as intermediate values for b. It is reasonable to interpret the evidence regarding sterilization as indicating that central banks are able ...
Chapter 16 Output and the Exchange Rate in the Short Run
... If the representative basket of European goods and services costs 40 euros, the representative U.S. basket costs $50, and the dollar/euro exchange rate is $0.90 per euro, then the price of the European basket in terms of U.S. basket is ...
... If the representative basket of European goods and services costs 40 euros, the representative U.S. basket costs $50, and the dollar/euro exchange rate is $0.90 per euro, then the price of the European basket in terms of U.S. basket is ...
Unconventional Central Bank Measures for Emerging
... unconventional measures are with only a few exceptions not being used to address the more fundamental macroeconomic challenges facing emerging economies. The minimal macroeconomic role for unconventional measures can be attributed to the lower degree of financial stress that emerging economies are e ...
... unconventional measures are with only a few exceptions not being used to address the more fundamental macroeconomic challenges facing emerging economies. The minimal macroeconomic role for unconventional measures can be attributed to the lower degree of financial stress that emerging economies are e ...
Freeing the World from the Free Market Economy
... level needs include security (namely the feeling that one can act without fear of immediate change). Economic stability crosses both of these levels, restricting, when it is not present, the willingness and ability for humankind to reach its full potential or self-actualization. For this reason, eco ...
... level needs include security (namely the feeling that one can act without fear of immediate change). Economic stability crosses both of these levels, restricting, when it is not present, the willingness and ability for humankind to reach its full potential or self-actualization. For this reason, eco ...
chapter 14 File
... in relative prices between countries Countries with relatively high inflation rates will tend to have currencies that depreciate over time Countries with relatively low inflation rates will tend to have currencies that appreciate over time Depreciation is the market’s way of compensating for differe ...
... in relative prices between countries Countries with relatively high inflation rates will tend to have currencies that depreciate over time Countries with relatively low inflation rates will tend to have currencies that appreciate over time Depreciation is the market’s way of compensating for differe ...
Management of Capital Flows in India: 1990-2011
... Asymmetric intervention, unless sterilized, often leads to a sharp increase in reserve money and fuels inflationary pressure. We evaluate the magnitude of sterilization, using empirical tools. We find that between 1998 and 2004, most of the concomitant rise in international reserves was offset by co ...
... Asymmetric intervention, unless sterilized, often leads to a sharp increase in reserve money and fuels inflationary pressure. We evaluate the magnitude of sterilization, using empirical tools. We find that between 1998 and 2004, most of the concomitant rise in international reserves was offset by co ...
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. ...
Globalization without global money: the double role of the dollar as
... commodities (by 33.5 percent). In order to lay the ground for an oil price increase as areaction to the ongoing dollar depreciation, Saudi Arabia gave up its role as a "swing producer" by the end of 1985 and flooded the oil market with additional supply. The idea was for Saudi Arabia deliberate1yto ...
... commodities (by 33.5 percent). In order to lay the ground for an oil price increase as areaction to the ongoing dollar depreciation, Saudi Arabia gave up its role as a "swing producer" by the end of 1985 and flooded the oil market with additional supply. The idea was for Saudi Arabia deliberate1yto ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... In doing this, however, they tended to follow different strategies and paths. While some countries relaxed bank lending only, other countries allowed only long-term capital movements, and yet others—such as Chile—used market-based mechanisms to slow down the rate at which capital was flowing into the ...
... In doing this, however, they tended to follow different strategies and paths. While some countries relaxed bank lending only, other countries allowed only long-term capital movements, and yet others—such as Chile—used market-based mechanisms to slow down the rate at which capital was flowing into the ...
Currency Wars, Coordination, and Capital Controls
... work, in particular by Helène Rey, suggests that US monetary policy affects financial systems in other countries through other channels than the exchange rate.7 This may seem puzzling for countries which let the exchange rate float and do not rely on FX intervention: In this case, if we assume that ...
... work, in particular by Helène Rey, suggests that US monetary policy affects financial systems in other countries through other channels than the exchange rate.7 This may seem puzzling for countries which let the exchange rate float and do not rely on FX intervention: In this case, if we assume that ...
Document
... Two possible systems for fixing the exchange rates: • Reserve currency standard – Central banks peg the prices of their currencies in terms of a reserve currency. – The currency central banks hold in their international reserves. ...
... Two possible systems for fixing the exchange rates: • Reserve currency standard – Central banks peg the prices of their currencies in terms of a reserve currency. – The currency central banks hold in their international reserves. ...
An interest rate defense of a fixed exchange rate?
... see that this requires a departure from uncovered interest parity (UIP), which was a basic KFG building block. UIP implies that the domestic currency interest rate is the passive reflection of devaluation expectations. There is, therefore, no room for active interest rate policy. A policy-responsive ...
... see that this requires a departure from uncovered interest parity (UIP), which was a basic KFG building block. UIP implies that the domestic currency interest rate is the passive reflection of devaluation expectations. There is, therefore, no room for active interest rate policy. A policy-responsive ...
A Flop And A debAcle: InsIde the IMF`s GlobAl RebAlAncInG Acts
... For those who share this view — and I count myself among them — the story that unfolds in this monograph is dispiriting. It is a detailed account of initiatives led by the IMF to address the imbalances in the years prior to the crisis. Based on interviews with scores of policy makers who were involv ...
... For those who share this view — and I count myself among them — the story that unfolds in this monograph is dispiriting. It is a detailed account of initiatives led by the IMF to address the imbalances in the years prior to the crisis. Based on interviews with scores of policy makers who were involv ...
Make Your Publication Visible
... time. A huge fraction of trade is denominated in a foreign currency, typically one of the main currencies of the industrialized world in particular US dollar (Auboin, 2012). While this currency might have been adopted originally for its stability and reliability, it might still be subject to severe ...
... time. A huge fraction of trade is denominated in a foreign currency, typically one of the main currencies of the industrialized world in particular US dollar (Auboin, 2012). While this currency might have been adopted originally for its stability and reliability, it might still be subject to severe ...
General interest publications about the euro | European Commission
... capital available for investment and allows investors to spread risks more widely. ...
... capital available for investment and allows investors to spread risks more widely. ...