Thirty Years of Current Account Imbalances, Current Account
... peaks at 60 percent of GDP.9 In trying to explain the lack of empirical success of intertemporal models a number of authors have compiled a list of (inadequate) assumptions that can account for the observed discrepancies between theory and reality. These include nonseparable preferences, less than p ...
... peaks at 60 percent of GDP.9 In trying to explain the lack of empirical success of intertemporal models a number of authors have compiled a list of (inadequate) assumptions that can account for the observed discrepancies between theory and reality. These include nonseparable preferences, less than p ...
NBER WORKING PAPER SERIES THIRTY YEARS OF CURRENT ACCOUNT IMBALANCES,
... distributed although the more slowly it happens, the better. But, clearly, if the euro has to bear the lion's share of the adjustment in the dollar, that is going to create a lot more difficulties than if it is more evenly distributed; than if the Asian currencies--not just China but all the Asian c ...
... distributed although the more slowly it happens, the better. But, clearly, if the euro has to bear the lion's share of the adjustment in the dollar, that is going to create a lot more difficulties than if it is more evenly distributed; than if the Asian currencies--not just China but all the Asian c ...
Dealing with large and volatile capital flows and the role of the IMF
... In the context of the current international policy debate on how to deal with large, volatile capital flows and the related work in progress at the G20, the OECD and the IMF, this paper provides analytical background material and considers the role that the Fund could play in assisting its members i ...
... In the context of the current international policy debate on how to deal with large, volatile capital flows and the related work in progress at the G20, the OECD and the IMF, this paper provides analytical background material and considers the role that the Fund could play in assisting its members i ...
central bank interventions, communication and interest rate policy in
... The empirical literature on the effectiveness of – mostly sterilized – foreign exchange (FX) interventions in developed market economies remains fairly mixed despite the recent emergence of some more supportive evidence.1 In this context, Canales-Kirjenko (2003) argues that foreign exchange interven ...
... The empirical literature on the effectiveness of – mostly sterilized – foreign exchange (FX) interventions in developed market economies remains fairly mixed despite the recent emergence of some more supportive evidence.1 In this context, Canales-Kirjenko (2003) argues that foreign exchange interven ...
A Factor-Augmented Vector Autoregression Analysis of Business
... the past half century. In the 1980s and 1990s, leading up to the Asian financial crisis of 1997– 1998, economies in the region kept stable exchange rates, especially vis-à-vis the United States (US) dollar, to support exports, a key driver of growth for many of them. However, de facto currency pegs ...
... the past half century. In the 1980s and 1990s, leading up to the Asian financial crisis of 1997– 1998, economies in the region kept stable exchange rates, especially vis-à-vis the United States (US) dollar, to support exports, a key driver of growth for many of them. However, de facto currency pegs ...
International Monetary Review
... October 2015 Vol. 2, No. 4 markets. We must prepare for such events. Given the seriousness of the debt problems facing some of the developed economies, many developing countries have already faced a fall in exports, experienced speculative capital flows replacing more stable FDI, and Trade Financin ...
... October 2015 Vol. 2, No. 4 markets. We must prepare for such events. Given the seriousness of the debt problems facing some of the developed economies, many developing countries have already faced a fall in exports, experienced speculative capital flows replacing more stable FDI, and Trade Financin ...
US Intervention in the Exchange Market for DM, 1977-80
... they consider to be inappropriate. By eliminating such a special case, we can get a better idea of their general approach to smoothing the exchange rate. In a longer-term context, intervention on November 1, 1978, may be considered a reaction to the declines in the value of the dollar that had taken ...
... they consider to be inappropriate. By eliminating such a special case, we can get a better idea of their general approach to smoothing the exchange rate. In a longer-term context, intervention on November 1, 1978, may be considered a reaction to the declines in the value of the dollar that had taken ...
Ch. 21 - Weber State University
... (b) An exchange-rate target has the disadvantage of weakening the accountability of policymakers, particularly in emerging market countries, because the public finds it harder to ascertain the central bank’s policy actions. (c) Since an exchange-rate target requires the central bank to tighten monet ...
... (b) An exchange-rate target has the disadvantage of weakening the accountability of policymakers, particularly in emerging market countries, because the public finds it harder to ascertain the central bank’s policy actions. (c) Since an exchange-rate target requires the central bank to tighten monet ...
A Development-focused Allocation of the Special Drawing Rights
... reckoned that when borrowing for reserves becomes difficult, many poor nations are obliged to make consumption and investment decisions that harm future growth and development. This is one of the reasons for the growing calls for multilateral finance institutions to be innovative in increasing the f ...
... reckoned that when borrowing for reserves becomes difficult, many poor nations are obliged to make consumption and investment decisions that harm future growth and development. This is one of the reasons for the growing calls for multilateral finance institutions to be innovative in increasing the f ...
predicting currency markets behavior after scheduled
... is a more realistic one, as it deals with real world constraints and traders behavior. This method performs a simulated ruled based trading activity over real prices and values the final results. Our goal is to understand whether it is possible or not to capture reaction of prices after scheduled ne ...
... is a more realistic one, as it deals with real world constraints and traders behavior. This method performs a simulated ruled based trading activity over real prices and values the final results. Our goal is to understand whether it is possible or not to capture reaction of prices after scheduled ne ...
Capital Flows and Real Exchange Rates in Emerging Asian Countries
... The swift and strong rebound of capital inflows in emerging Asian countries after the current global financial crisis has added new impetus to the debate on how countries receive benefits from capital inflows and avoid costs that are associated with them. One of the unfavorable side effects of “too ...
... The swift and strong rebound of capital inflows in emerging Asian countries after the current global financial crisis has added new impetus to the debate on how countries receive benefits from capital inflows and avoid costs that are associated with them. One of the unfavorable side effects of “too ...
Property or Currency? The Tax Dilemma Behind Bitcoin
... successfully at a high volume for a long period of time. Eventually, Silk Road was shut down by the FBI in October 2013, and the owner, Ross William Ulbricht, was arrested.54 The FBI subsequently seized 26,000 of Ulbricht’s Bitcoins, which were worth approximately $3.6 million USD at the time.55 As ...
... successfully at a high volume for a long period of time. Eventually, Silk Road was shut down by the FBI in October 2013, and the owner, Ross William Ulbricht, was arrested.54 The FBI subsequently seized 26,000 of Ulbricht’s Bitcoins, which were worth approximately $3.6 million USD at the time.55 As ...
International Monetary Review
... actions, Mario Draghi, the ECB president, said last August: ―The fundamentals for a weaker exchange rate are today much better than they were two or three months ago. ….Other central banks have been reducing their exposure to the euro.‖ Over the past 12 months, eurozone countries have recorded a rea ...
... actions, Mario Draghi, the ECB president, said last August: ―The fundamentals for a weaker exchange rate are today much better than they were two or three months ago. ….Other central banks have been reducing their exposure to the euro.‖ Over the past 12 months, eurozone countries have recorded a rea ...
Australian Government Foreign Exchange Risk Management
... 3.1 Identifying and Measuring Exposures Identification and measurement of exposures enables GGS entities to better understand their foreign currency exposures and report to the Australian Government. The streamlined reporting requirements from 1 July 2006 mean that only those GGS entities that have ...
... 3.1 Identifying and Measuring Exposures Identification and measurement of exposures enables GGS entities to better understand their foreign currency exposures and report to the Australian Government. The streamlined reporting requirements from 1 July 2006 mean that only those GGS entities that have ...
Competition in the Cryptocurrency Market
... exchanges. In the exchanges, sellers benefit from a larger number of buyers, and buyers benefit from a larger number of sellers (so-called positive cross-side effects). However, sellers would prefer a lower number of other sellers, since they compete for buyers. Similarly, buyers would prefer a lowe ...
... exchanges. In the exchanges, sellers benefit from a larger number of buyers, and buyers benefit from a larger number of sellers (so-called positive cross-side effects). However, sellers would prefer a lower number of other sellers, since they compete for buyers. Similarly, buyers would prefer a lowe ...
FX Options and Structured Products
... solve and can serve as incentives to further research and testing. Solutions to the exercises are not part of this book, however they will be published on the web page of the book, www.mathfinance.com/FXOptions/. ...
... solve and can serve as incentives to further research and testing. Solutions to the exercises are not part of this book, however they will be published on the web page of the book, www.mathfinance.com/FXOptions/. ...
Are twin currency and debt crises special?
... Krugman, 1979; Flood and Garber, 1984) focused on fundamental economic weaknesses such as excessive fiscal and monetary policies as major causes of the breakdown of fixed exchange rate regimes. Following the EMS crisis (1992-93), private devaluation expectations, which affect a government’s policy d ...
... Krugman, 1979; Flood and Garber, 1984) focused on fundamental economic weaknesses such as excessive fiscal and monetary policies as major causes of the breakdown of fixed exchange rate regimes. Following the EMS crisis (1992-93), private devaluation expectations, which affect a government’s policy d ...
International Reserves and Foreign Currency Liquidity
... exchange guarantees, and on contractual provisions in debt instruments that allow creditors to demand early payment in the face of changing economic conditions. • Publicly available information on reserves generally did not take account of unused unconditional lines of credit, which could represent ...
... exchange guarantees, and on contractual provisions in debt instruments that allow creditors to demand early payment in the face of changing economic conditions. • Publicly available information on reserves generally did not take account of unused unconditional lines of credit, which could represent ...