Did the Indian capital controls work as a tool of macroeconomic
... capital controls was put in place. Under this framework, the goal of capital controls was to avoid a balance of payment crises. Private capital flows would finance the current account deficit, thus shifting away from the reliance on official debt and overseas aid (Reddy, 2000). The need for capital ...
... capital controls was put in place. Under this framework, the goal of capital controls was to avoid a balance of payment crises. Private capital flows would finance the current account deficit, thus shifting away from the reliance on official debt and overseas aid (Reddy, 2000). The need for capital ...
On the trade impact of nominal exchange rate volatility
... the US, France). Two countries that have chosen to peg to the same anchor will therefore experience low bilateral exchange rate variability. I turn this observation into an identification strategy by first estimating the probability that two countries are pegged to the same anchor, and then using th ...
... the US, France). Two countries that have chosen to peg to the same anchor will therefore experience low bilateral exchange rate variability. I turn this observation into an identification strategy by first estimating the probability that two countries are pegged to the same anchor, and then using th ...
The Sterling Devaluation of 1967, the International
... demand was intended not only to reduce imports but also to turn the tide in favour of sterling by providing a demonstration of Labour’s determination to take undesirable steps to defend the pound. It underpinned a modified economic strategy for the period to 1970 designed to balance annual surpluses ...
... demand was intended not only to reduce imports but also to turn the tide in favour of sterling by providing a demonstration of Labour’s determination to take undesirable steps to defend the pound. It underpinned a modified economic strategy for the period to 1970 designed to balance annual surpluses ...
Public Sector Stability and Balance of Payments Crises in Selected
... Accordingly, the article’s primary aim is to provide an empirical characterization of the twin deficit problem and to consider some policy implications of a possible twin deficit as well as any evidence of the Horioka-Feldstein puzzle in the different blocks of transition economies (CEE, SEE and CIS ...
... Accordingly, the article’s primary aim is to provide an empirical characterization of the twin deficit problem and to consider some policy implications of a possible twin deficit as well as any evidence of the Horioka-Feldstein puzzle in the different blocks of transition economies (CEE, SEE and CIS ...
Public Sector Stability and Balance of Payments Crisis
... Accordingly, the article’s primary aim is to provide an empirical characterization of the twin deficit problem and to consider some policy implications of a possible twin deficit as well as any evidence of the Horioka-Feldstein puzzle in the different blocks of transition economies (CEE, SEE and CIS ...
... Accordingly, the article’s primary aim is to provide an empirical characterization of the twin deficit problem and to consider some policy implications of a possible twin deficit as well as any evidence of the Horioka-Feldstein puzzle in the different blocks of transition economies (CEE, SEE and CIS ...
Impact of the Euro adoption on the Economy of Latvia
... share of the euro bloc countries in total exports of Latvia several times exceeds that of the US dollar bloc countries and is going to grow further with the EU enlargement, positive effects are likely to exceed potential losses. Growth in Latvia's exports to euro bloc countries will push up total ex ...
... share of the euro bloc countries in total exports of Latvia several times exceeds that of the US dollar bloc countries and is going to grow further with the EU enlargement, positive effects are likely to exceed potential losses. Growth in Latvia's exports to euro bloc countries will push up total ex ...
exchange rate pass-through in india
... for various macroeconomic factors that determine prices in an open economy. In that sense, the results thus arrived in the earlier study might be inappropriate. The present study derives its justification from such deficiencies in the existing literature. The main objective of this paper is to estim ...
... for various macroeconomic factors that determine prices in an open economy. In that sense, the results thus arrived in the earlier study might be inappropriate. The present study derives its justification from such deficiencies in the existing literature. The main objective of this paper is to estim ...
early warning indicators for developed countries - ECB
... At first glance, the literature on early warning indicators of economic crises might seem extensive. A number of influential studies look, for example, at currency and twin crises in emerging economies and at debt and banking crises in large cross-country data sets. However, studies focusing on earl ...
... At first glance, the literature on early warning indicators of economic crises might seem extensive. A number of influential studies look, for example, at currency and twin crises in emerging economies and at debt and banking crises in large cross-country data sets. However, studies focusing on earl ...
The euro as an international reserve currency: macroeconomic
... This process came abruptly to a halt in 2010 with the emergence of the sovereign debt crisis that has severely dented the expectations of the euro’s future. But if the solution to the crisis renews the confidence in European institutions, that may also give a new boost to its role as an internationa ...
... This process came abruptly to a halt in 2010 with the emergence of the sovereign debt crisis that has severely dented the expectations of the euro’s future. But if the solution to the crisis renews the confidence in European institutions, that may also give a new boost to its role as an internationa ...
The Impact of Foreign-Currency Movements on Equity
... The U.S. dollar has staged an impressive rally over the past year. Although it has taken a bit of a breather recently, there are reasons to expect the dollar to remain strong, at least over the next year or two. The U.S. Federal Reserve is likely to raise rates in the next 12 months, which would be ...
... The U.S. dollar has staged an impressive rally over the past year. Although it has taken a bit of a breather recently, there are reasons to expect the dollar to remain strong, at least over the next year or two. The U.S. Federal Reserve is likely to raise rates in the next 12 months, which would be ...
Exchange rate regimes in Latin America
... The benefits of a managed floating regime are that it provides the same flexibility to absorb unexpected shocks as a pure floating regime, while also entitling the monetary authority to intervene in the foreign exchange market and influence the determination of the NER. In developing countries, this ...
... The benefits of a managed floating regime are that it provides the same flexibility to absorb unexpected shocks as a pure floating regime, while also entitling the monetary authority to intervene in the foreign exchange market and influence the determination of the NER. In developing countries, this ...
The role of asymmetric information among investors in
... in addition to their public signal. Every period investors decide how much to invest in domestic bonds, foreign bonds, and their non-asset income. I assume that this non-asset income depends on exchange rates, thus creating some hedging demand in the foreign exchange market. Investors also make use ...
... in addition to their public signal. Every period investors decide how much to invest in domestic bonds, foreign bonds, and their non-asset income. I assume that this non-asset income depends on exchange rates, thus creating some hedging demand in the foreign exchange market. Investors also make use ...
Causes of and Remedies for the People`s Republic of China`s
... The current account surplus of the People’s Republic of China (PRC), as well as the high rate of its gross domestic product (GDP) has been at the center of numerous international economic policy debates in recent years. Some western politicians have blamed the PRC for its huge current account surplu ...
... The current account surplus of the People’s Republic of China (PRC), as well as the high rate of its gross domestic product (GDP) has been at the center of numerous international economic policy debates in recent years. Some western politicians have blamed the PRC for its huge current account surplu ...
Workbook for Currency Derivatives Certification Examination
... documented history suggests that sometime in 1870 countries agreed to value their currencies against value of currency of other country using gold as the benchmark for valuation. As per this process, central banks issue paper currency and hold equivalent amount of gold in their reserve. The value of ...
... documented history suggests that sometime in 1870 countries agreed to value their currencies against value of currency of other country using gold as the benchmark for valuation. As per this process, central banks issue paper currency and hold equivalent amount of gold in their reserve. The value of ...
Why are some exchange rates more volatile than others? Evidence from
... stability, by reducing the likelihood of speculative attacks against the currency. Clark et al (2004) collected data for almost all IMF-member countries, and found that less ‡exible exchange rate regimes do not necessarily guarantee reduced real exchange rate volatility. It could be argued that peg ...
... stability, by reducing the likelihood of speculative attacks against the currency. Clark et al (2004) collected data for almost all IMF-member countries, and found that less ‡exible exchange rate regimes do not necessarily guarantee reduced real exchange rate volatility. It could be argued that peg ...
Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary
... over the period 2000–2011. In the early 2000s, these countries enjoyed large capital inflows, which, through their expansionary effect on domestic absorption, led to sizable appreciations in hourly wages. With the onset of the global recession in 2008, capital inflows dried up and aggregate demand col ...
... over the period 2000–2011. In the early 2000s, these countries enjoyed large capital inflows, which, through their expansionary effect on domestic absorption, led to sizable appreciations in hourly wages. With the onset of the global recession in 2008, capital inflows dried up and aggregate demand col ...
Chapter 10 8e SM
... debt covenants requiring them to stay below a maximum debt to equity ratio, may find it necessary to hedge their balance sheet exposure so as to avoid negative translation adjustments being reported. If the U.S. dollar is the functional currency or an operation is located in a high inflation country ...
... debt covenants requiring them to stay below a maximum debt to equity ratio, may find it necessary to hedge their balance sheet exposure so as to avoid negative translation adjustments being reported. If the U.S. dollar is the functional currency or an operation is located in a high inflation country ...
the prerequisites for progress towards a single currency in the
... Although relatively little progress has been made in other regional organisations in Africa, there is nothing in the criteria set out for the MHP that could be interpreted as being damaging to the interests of non-member countries or as currently conflicting with the objectives of other regional gr ...
... Although relatively little progress has been made in other regional organisations in Africa, there is nothing in the criteria set out for the MHP that could be interpreted as being damaging to the interests of non-member countries or as currently conflicting with the objectives of other regional gr ...
Document
... and affect the economy through an exchange rate change channel. An increase in the base rate may cause the base currency to appreciate against all other currencies (that float) meaning that any floating country will depreciate against the base. While interest rates in base countries may have an effe ...
... and affect the economy through an exchange rate change channel. An increase in the base rate may cause the base currency to appreciate against all other currencies (that float) meaning that any floating country will depreciate against the base. While interest rates in base countries may have an effe ...
CHAPTER VI CURRENCY RISK MANAGEMENT: FUTURES AND
... initial margin can be posted in the form of interest-bearing assets, such as Treasury bills. This allows market participants to reduce the opportunity costs associated with margin requirements. A futures contract is marked-to-market daily at the settlement price. The settlement price is an exchange' ...
... initial margin can be posted in the form of interest-bearing assets, such as Treasury bills. This allows market participants to reduce the opportunity costs associated with margin requirements. A futures contract is marked-to-market daily at the settlement price. The settlement price is an exchange' ...
PDF
... shocks raising unemployment in one region relative to another elicit labor flows from the former to the latter, unemployment may return to normal levels before significant costs have been incurred even if the authorities lack policy instruments useful for expediting adjustment. Blanchard and Katz (1 ...
... shocks raising unemployment in one region relative to another elicit labor flows from the former to the latter, unemployment may return to normal levels before significant costs have been incurred even if the authorities lack policy instruments useful for expediting adjustment. Blanchard and Katz (1 ...
70 Working Paper The benefits and costs of monetary union in Southern Africa:
... Selected macroeconomic indicators of the SADC economies are presented in Table 2, and trade indicators are presented in Tables 3 and 4. These indicators merit several comments. First, SADC economies differ markedly in size and structure (Table 2). South Africa, by far the largest economy (accountin ...
... Selected macroeconomic indicators of the SADC economies are presented in Table 2, and trade indicators are presented in Tables 3 and 4. These indicators merit several comments. First, SADC economies differ markedly in size and structure (Table 2). South Africa, by far the largest economy (accountin ...
(TZS) versus the US Dollar (USD) and other major world currenc
... TPSF also spoke to members of the business community who are exporters. As stakeholders who are always impacted by changes in the value of the TZS they had a longer term outlook with regards to Tanzania’s export strategy. They said that rather than relying on imported inputs whose price is always su ...
... TPSF also spoke to members of the business community who are exporters. As stakeholders who are always impacted by changes in the value of the TZS they had a longer term outlook with regards to Tanzania’s export strategy. They said that rather than relying on imported inputs whose price is always su ...