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Regulating international finance and the diversity of capitalism
... Asian region—with G20 member countries China, Japan and Korea—for the global economy and the negotiations on regulating global finance in the G20, it is necessary to include at least the East Asian countries in our analysis. After being outsourced to development or regional studies for too long, it ...
... Asian region—with G20 member countries China, Japan and Korea—for the global economy and the negotiations on regulating global finance in the G20, it is necessary to include at least the East Asian countries in our analysis. After being outsourced to development or regional studies for too long, it ...
Project Syndicate, September 2012. Since the integration of
... household savings rate in China and the U.S. were roughly level at about 5 percent. By 2007, China’s household savings rate rose to a staggering 30% while the U.S’s fell to 2.5%. The pattern is not uncharacteristic of other industrialized countries compared to emerging markets over the last two deca ...
... household savings rate in China and the U.S. were roughly level at about 5 percent. By 2007, China’s household savings rate rose to a staggering 30% while the U.S’s fell to 2.5%. The pattern is not uncharacteristic of other industrialized countries compared to emerging markets over the last two deca ...
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... manage its own resources solely for its own benefit and as it sees fit. A coordination agreement may limit sovereignty that may induce the central bank to act in ways not in the best interests of the domestic country, particularly in the short run. Other countries in the agreement may not be trust ...
... manage its own resources solely for its own benefit and as it sees fit. A coordination agreement may limit sovereignty that may induce the central bank to act in ways not in the best interests of the domestic country, particularly in the short run. Other countries in the agreement may not be trust ...
On the feasibility of a monetary union in the Southern Africa
... a monetary union one can proceed quickly without any type of Maastricht-type convergence requirement or gradually by requiring potential members to satisfy certain requirements. It so happens that the theory of optimum currency areas does not provide guidance on specific convergence requirements. T ...
... a monetary union one can proceed quickly without any type of Maastricht-type convergence requirement or gradually by requiring potential members to satisfy certain requirements. It so happens that the theory of optimum currency areas does not provide guidance on specific convergence requirements. T ...
Exchange Rate Policy
... 2. Exchange rate policy poses a dilemma: there are economic payoffs to stable exchange rates, but the policies used to fix the exchange rate have costs. Exchange market intervention requires large reserves, and exchange controls distort incentives. If monetary policy is used to help fix the exchange ...
... 2. Exchange rate policy poses a dilemma: there are economic payoffs to stable exchange rates, but the policies used to fix the exchange rate have costs. Exchange market intervention requires large reserves, and exchange controls distort incentives. If monetary policy is used to help fix the exchange ...
The Theoretical Basis of an Integrating Currency Area. The
... of the opposite opinions are hidden, especially when we consider the timeless question of reasons for the financial crisis. This was so in the 19th and 20th centuries and it is so also today…”. J. Żyżyński (2010, p. 7) has some interesting remarks about the weakness of theoretical explanations: “So ...
... of the opposite opinions are hidden, especially when we consider the timeless question of reasons for the financial crisis. This was so in the 19th and 20th centuries and it is so also today…”. J. Żyżyński (2010, p. 7) has some interesting remarks about the weakness of theoretical explanations: “So ...
Ronald McKinnon and Gunther Schnabl
... of 1990s to being a net importer today. China’s smaller East Asian industrial competitors such as Taiwan, Korea, and Singapore face fairly difficult readjustment problems. However, China is a huge importer of primary products and industrial raw materials and runs large import surpluses with the ASEA ...
... of 1990s to being a net importer today. China’s smaller East Asian industrial competitors such as Taiwan, Korea, and Singapore face fairly difficult readjustment problems. However, China is a huge importer of primary products and industrial raw materials and runs large import surpluses with the ASEA ...
chinese mercantilism: currency wars and how the east was
... “messing” up the East Asian fixed exchange rate “agreement” should not be underestimated. If most countries have their currencies fixed, and overvalued, there is a consumer loss all around, but there is little possibility of a crisis - or a currency war. Several implications for exchange rate polici ...
... “messing” up the East Asian fixed exchange rate “agreement” should not be underestimated. If most countries have their currencies fixed, and overvalued, there is a consumer loss all around, but there is little possibility of a crisis - or a currency war. Several implications for exchange rate polici ...
Group of Twenty IMF Note on Global Prospects and Policy Challenges
... The global recovery has weakened further amid increasing financial turbulence and falling asset prices. Activity softened towards the end of 2015 and the valuation of risky assets has dropped sharply, especially in advanced economies, increasing the likelihood of a further weakening of the outlook. ...
... The global recovery has weakened further amid increasing financial turbulence and falling asset prices. Activity softened towards the end of 2015 and the valuation of risky assets has dropped sharply, especially in advanced economies, increasing the likelihood of a further weakening of the outlook. ...
hohenheimer diskussionsbeiträge
... trading partner countries will result in a depreciation of the foreign currency which in turn weakens the domestic price competitiveness. The resulting drop in demand for domestic export goods will deteriorate the current account. This increases the cost of the exchange rate commitment and makes a d ...
... trading partner countries will result in a depreciation of the foreign currency which in turn weakens the domestic price competitiveness. The resulting drop in demand for domestic export goods will deteriorate the current account. This increases the cost of the exchange rate commitment and makes a d ...
FX-Adjusted Local Currency Spreads CEME
... cycle and economic indicators fall into the first category. Technical trading rules and order flow indicators fall into the second category.5 Fundamental variables account for very little of the observed variation in exchange rates for developed countries’ currencies over short-time horizons up to o ...
... cycle and economic indicators fall into the first category. Technical trading rules and order flow indicators fall into the second category.5 Fundamental variables account for very little of the observed variation in exchange rates for developed countries’ currencies over short-time horizons up to o ...
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... (Poland and Cyprus are significantly below average, however). Approximately 60 percent of the acceding countries’ imports and exports is with EU countries. A significant share of EU trade with the acceding countries is intra-industry, clearly reflecting cumulated foreign direct investment (FDI) by E ...
... (Poland and Cyprus are significantly below average, however). Approximately 60 percent of the acceding countries’ imports and exports is with EU countries. A significant share of EU trade with the acceding countries is intra-industry, clearly reflecting cumulated foreign direct investment (FDI) by E ...
Is China or India more financially open?
... finances into global markets. Were either to suffer anything like the Asian financial crisis of the late 1990s, it would be bad news for the world at large. It is as if these economies were travelling a road lined with memorials to victims of previous accidents. How China and India manage capital fl ...
... finances into global markets. Were either to suffer anything like the Asian financial crisis of the late 1990s, it would be bad news for the world at large. It is as if these economies were travelling a road lined with memorials to victims of previous accidents. How China and India manage capital fl ...
A G-Ppp Analysis to the Eac Monetary Integration Process
... This is because the mobility of factors provides a substitute for exchange rate flexibility in undertaking adjustment when a disturbance occurs (Mundell, 1961). According to Mundell (1961), if a negative asymmetric demand shock hits one of the members of an optimum currency area, the labor will move ...
... This is because the mobility of factors provides a substitute for exchange rate flexibility in undertaking adjustment when a disturbance occurs (Mundell, 1961). According to Mundell (1961), if a negative asymmetric demand shock hits one of the members of an optimum currency area, the labor will move ...
the concept of fts anylysis in forecasting trends of exchange rate
... accuracy of forecasts indicate that these forecasts are more often wrong than correct. This confirms the thesis about the unpredictability of future foreign currency exchange rates and the need to seek new methods of forecasting, or to improve the existing ones. In the light of the theory of exchang ...
... accuracy of forecasts indicate that these forecasts are more often wrong than correct. This confirms the thesis about the unpredictability of future foreign currency exchange rates and the need to seek new methods of forecasting, or to improve the existing ones. In the light of the theory of exchang ...
Currency Regimes, Capital Flows, and Crises
... Open-economy macroeconomics, by contrast, has a long history of thinking about and trying to model sudden crises, usually involving – although not necessarily restricted to – speculative attacks on currencies. Models in this area are generally grouped by “generation,” reflecting the evolution of app ...
... Open-economy macroeconomics, by contrast, has a long history of thinking about and trying to model sudden crises, usually involving – although not necessarily restricted to – speculative attacks on currencies. Models in this area are generally grouped by “generation,” reflecting the evolution of app ...