The international monetary and financial system: its Achilles heel
... as an international currency. Just like its alternative, this view stresses potential deflationary forces, as countries are induced to build up precautionary balances. This perspective, too, ends up highlighting the role of current accounts, although it places considerably more emphasis on the susta ...
... as an international currency. Just like its alternative, this view stresses potential deflationary forces, as countries are induced to build up precautionary balances. This perspective, too, ends up highlighting the role of current accounts, although it places considerably more emphasis on the susta ...
schnabl mmi08 6642029 en
... of the Chinese yuan (Goldstein 2003, Cheung, Chinn and Fujii 2005, Cline 2005, Frankel 2006, McKinnon and Schnabl 2006, Goodfriend and Prasad 2007). Proponents of a flexible yuan have stressed the need for macroeconomic flexibility in the economic catch-up process of the Chinese economy (Goldstein 2 ...
... of the Chinese yuan (Goldstein 2003, Cheung, Chinn and Fujii 2005, Cline 2005, Frankel 2006, McKinnon and Schnabl 2006, Goodfriend and Prasad 2007). Proponents of a flexible yuan have stressed the need for macroeconomic flexibility in the economic catch-up process of the Chinese economy (Goldstein 2 ...
Advanced Accounting Project Group #3
... Costco’s operating segments are divided or identified based on geographic locations. These locations include USA, Mexico, Canada, UK, Japan, and many other countries. On Costco’s financial statements, they broke it up into United States, Canada, and other International Operating Locations. According ...
... Costco’s operating segments are divided or identified based on geographic locations. These locations include USA, Mexico, Canada, UK, Japan, and many other countries. On Costco’s financial statements, they broke it up into United States, Canada, and other International Operating Locations. According ...
Monetary Policy and Global Banking
... in their domestic currency and rely on synthetic funding to lend in foreign currencies. This has an effect on how internal capital markets are used, which leads to contrary effects of monetary policy for the domestic and foreign lending of global banks. Although, unlike Ivashina, Scharfstein, and St ...
... in their domestic currency and rely on synthetic funding to lend in foreign currencies. This has an effect on how internal capital markets are used, which leads to contrary effects of monetary policy for the domestic and foreign lending of global banks. Although, unlike Ivashina, Scharfstein, and St ...
... the two-currency reserve system we seem to be moving towards (Stiglitz, 2006:260). The IMF could provide this fiat money to act as reserves, which countries could exchange for currency in times of crisis. This system would alleviate the growing problem of a global system reliant on the increasing de ...
Local versus Producer Currency Pricing: Evidence from
... of policy debates. One such debate is on whether the European monetary union (EMU) has economic justi…cations. The strongest objection to the EMU comes from Feldstein (1993, 1997) and Obstfeld (1997), who echo the views expressed by Friedman (1953) and Mundell (1961) on the stabilizing power of exch ...
... of policy debates. One such debate is on whether the European monetary union (EMU) has economic justi…cations. The strongest objection to the EMU comes from Feldstein (1993, 1997) and Obstfeld (1997), who echo the views expressed by Friedman (1953) and Mundell (1961) on the stabilizing power of exch ...
Zimbabwe Monetary Policy 1998-2012: From Hyperinflation to
... private sector to the public sector? The goal is to better understand how such policy failures occur, and to learn lessons so that similar disasters do not occur in the future in Zimbabwe or elsewhere. This paper explores the dual exchange rate markets that existed during the 2000 to 2008 period to ...
... private sector to the public sector? The goal is to better understand how such policy failures occur, and to learn lessons so that similar disasters do not occur in the future in Zimbabwe or elsewhere. This paper explores the dual exchange rate markets that existed during the 2000 to 2008 period to ...
should the southeast asian countries form a currency union?
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
should the southeast asian countries form a currency union?
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
Currency Wars
... the conversion of dollars into gold. The country was in the midst of a crisis, the result of an ongoing currency war that had destroyed faith in the U.S. dollar, and the president had determined that extreme measures were necessary. Today we are engaged in a new currency war, and another crisis of c ...
... the conversion of dollars into gold. The country was in the midst of a crisis, the result of an ongoing currency war that had destroyed faith in the U.S. dollar, and the president had determined that extreme measures were necessary. Today we are engaged in a new currency war, and another crisis of c ...
The Benefits and Costs of Renminbi Internationalization
... China (PRC), the renminbi (RMB), has been increasingly used in trade settlements and other cross-border financial transactions, indicating that the currency structure of the multipolar system may take a different form. Although some researchers early in this century argued that the PRC should push f ...
... China (PRC), the renminbi (RMB), has been increasingly used in trade settlements and other cross-border financial transactions, indicating that the currency structure of the multipolar system may take a different form. Although some researchers early in this century argued that the PRC should push f ...
The Relationship Between Foreign Exchange
... calls for exchange of one country’s currency for another. International trade is directly linked trading of goods and services, foreign direct investment, long term investment portfolio flows, hedge funds, mutual funds and the safe haven status of currencies. In economies such as US and the Europea ...
... calls for exchange of one country’s currency for another. International trade is directly linked trading of goods and services, foreign direct investment, long term investment portfolio flows, hedge funds, mutual funds and the safe haven status of currencies. In economies such as US and the Europea ...
Exchange Rate Pass-Through to Import Prices in the
... evolved considerably over time. After a long period of debate over the law of one price and convergence across countries, beginning in the late 1980s exchange rate pass-through studies emphasized industrial organization and the role of segmentation and price discrimination across geographically dist ...
... evolved considerably over time. After a long period of debate over the law of one price and convergence across countries, beginning in the late 1980s exchange rate pass-through studies emphasized industrial organization and the role of segmentation and price discrimination across geographically dist ...
Managing Capital Flows in Asia: An Overview of Key Issues
... transactions. Meanwhile, economic policy and structural changes from the standpoint of developing economies can be categorized into two broad groups: those that are country-specific, or “pull” factors; and those that are external to the country and beyond its control, or “push” factors. One set of “ ...
... transactions. Meanwhile, economic policy and structural changes from the standpoint of developing economies can be categorized into two broad groups: those that are country-specific, or “pull” factors; and those that are external to the country and beyond its control, or “push” factors. One set of “ ...
international financial crises
... notes the lion is also on his knees. And he says, “Mister Lion, Sir. I am praying because this is very, very bad. But why, Mister Lion, Sir, are you praying?” And the lion said, “I’m not praying, I’m saying grace.” That is surely not what international financial crises are about. ...
... notes the lion is also on his knees. And he says, “Mister Lion, Sir. I am praying because this is very, very bad. But why, Mister Lion, Sir, are you praying?” And the lion said, “I’m not praying, I’m saying grace.” That is surely not what international financial crises are about. ...
Does exchange rate depreciation have contractionary effects on firm
... decisions. For instance, Hubbard (1998) shows that it can have a stronger impact in the case of low net worth firms than for high net worth firms. And negative shocks to the net worth of firms that are financiallyconstrained raise the cost of external funding and reduce the incentives to invest, bec ...
... decisions. For instance, Hubbard (1998) shows that it can have a stronger impact in the case of low net worth firms than for high net worth firms. And negative shocks to the net worth of firms that are financiallyconstrained raise the cost of external funding and reduce the incentives to invest, bec ...
Currency Unions, Product Introductions, and the Real Exchange Rate
... are not surprising in a world with barriers to arbitrage such as transport costs. A large body of literature, however, documents its surprisingly large failure for many traded goods and tries to explain the resulting volatility in the relative price of consumption across countries, or the real excha ...
... are not surprising in a world with barriers to arbitrage such as transport costs. A large body of literature, however, documents its surprisingly large failure for many traded goods and tries to explain the resulting volatility in the relative price of consumption across countries, or the real excha ...
This PDF is a selection from a published volume from... Economic Research
... to follow the usual cyclical patterns but with no long-run trend. Both the dollar and the euro will slowly depreciate in real terms against the managed periphery currencies. That our forecasts have been on target for the last three years may be a matter of good analysis or good fortune. But it has, ...
... to follow the usual cyclical patterns but with no long-run trend. Both the dollar and the euro will slowly depreciate in real terms against the managed periphery currencies. That our forecasts have been on target for the last three years may be a matter of good analysis or good fortune. But it has, ...
Ho(313).pdf
... of growth in some countries.xvii Papell and Theodoridis’s (1998) study on openness, exchange rates and prices found stronger evidence of PPP for countries with less exchange rate volatility, and shorter distance from other countries but not for countries with greater openness to trade. Theoreticall ...
... of growth in some countries.xvii Papell and Theodoridis’s (1998) study on openness, exchange rates and prices found stronger evidence of PPP for countries with less exchange rate volatility, and shorter distance from other countries but not for countries with greater openness to trade. Theoreticall ...
China`s African financial engagement, real
... world to secure the raw materials needed to sustain its high growth rate and to diversify its exports. This effort accelerated from 1999 when China adopted the “go out” policy. As part of this policy, China turned to Africa following the first China/Africa Cooperation Forum in 2000. Since then China ...
... world to secure the raw materials needed to sustain its high growth rate and to diversify its exports. This effort accelerated from 1999 when China adopted the “go out” policy. As part of this policy, China turned to Africa following the first China/Africa Cooperation Forum in 2000. Since then China ...
Exchange Rates as Exchange Rate Common Factors"
... We identify the euro/dollar, Swiss-franc/dollar and yen/dollar exchange rates as empirical counterparts to three common factors extracted from a panel of 27 exchange rates against the U.S. dollar. Due to the euro’s and yen’s dominance in foreign exchange trading and the safe-haven role of the yen an ...
... We identify the euro/dollar, Swiss-franc/dollar and yen/dollar exchange rates as empirical counterparts to three common factors extracted from a panel of 27 exchange rates against the U.S. dollar. Due to the euro’s and yen’s dominance in foreign exchange trading and the safe-haven role of the yen an ...