2012 review - Bank of Botswana
... Diamond sector to remain a key sector in Botswana… Botswana is one of the leading producers of diamonds both in carats and value. The diamond sector represents approximately one fourth of total value added, and an average of 73% of exports of goods over the past decade. Although global production ha ...
... Diamond sector to remain a key sector in Botswana… Botswana is one of the leading producers of diamonds both in carats and value. The diamond sector represents approximately one fourth of total value added, and an average of 73% of exports of goods over the past decade. Although global production ha ...
fiscal multipliers in recession and expansion
... SVAR coefficients the multipliers for unanticipated government purchases.2 In contrast to Auerbach and Gorodnichenko (2011) focusing only on the U.S. macroeconomic time series, in this paper we use data on multiple countries available from the OECD, for which consistent measures of actual and foreca ...
... SVAR coefficients the multipliers for unanticipated government purchases.2 In contrast to Auerbach and Gorodnichenko (2011) focusing only on the U.S. macroeconomic time series, in this paper we use data on multiple countries available from the OECD, for which consistent measures of actual and foreca ...
Quantitative Easing in a Small Open Economy: An International
... term premium that is likely to move with the global term premium, which is taken as exogenous by the small open economy. The strong co-movement between domestic and foreign term premia is also consistent with the evidence presented in literature. The left panel in Figure 2 shows term premium estima ...
... term premium that is likely to move with the global term premium, which is taken as exogenous by the small open economy. The strong co-movement between domestic and foreign term premia is also consistent with the evidence presented in literature. The left panel in Figure 2 shows term premium estima ...
GREECE 2013 ARTICLE IV CONSULTATION
... In the midst of a sharp and socially painful recession, Greece is making important progress in overcoming deep-seated problems. Progress on fiscal adjustment has been exceptional by any standard, with the cyclically-adjusted primary balance having improved cumulatively by about 15 percent of GDP dur ...
... In the midst of a sharp and socially painful recession, Greece is making important progress in overcoming deep-seated problems. Progress on fiscal adjustment has been exceptional by any standard, with the cyclically-adjusted primary balance having improved cumulatively by about 15 percent of GDP dur ...
Review of the African Development Bank`s Capital Resource
... 8. As a result of the Bank’s increased lending, the utilization of its financial resources has been faster than anticipated in the MTS and a breach of some of its prudential limits is projected by the end of 2010. This is following the infusion of contingent capital by two Non Regional Member Countr ...
... 8. As a result of the Bank’s increased lending, the utilization of its financial resources has been faster than anticipated in the MTS and a breach of some of its prudential limits is projected by the end of 2010. This is following the infusion of contingent capital by two Non Regional Member Countr ...
PRIVATE SECTOR ASSESSMENT OF BAHAMAS
... purchasing power parity exchange rates) in 2010-13.3 Due to the low or negative rates of economic growth recorded since 2005, unemployment has been relatively high, meaning that job creation and labour market reform is a fundamental objective. The unemployment rate increased steadily from 6.9% in 20 ...
... purchasing power parity exchange rates) in 2010-13.3 Due to the low or negative rates of economic growth recorded since 2005, unemployment has been relatively high, meaning that job creation and labour market reform is a fundamental objective. The unemployment rate increased steadily from 6.9% in 20 ...
Comments on Paul Davidson`s “Full Employment, Open Economy
... The purpose of such a Taylor rule, in a macroeconomic framework, is to make the interest rate endogenous. It shows that, when output increases, or inflation increases, the interest rate will go up. It will do this not because the demand for money increases relative to a fixed supply but because of a ...
... The purpose of such a Taylor rule, in a macroeconomic framework, is to make the interest rate endogenous. It shows that, when output increases, or inflation increases, the interest rate will go up. It will do this not because the demand for money increases relative to a fixed supply but because of a ...
EN EN Table of Contents 1. Introduction 2. Overview of capital loan
... This working document is published in parallel with the report of the Commission to the European Parliament and the Council on guarantees covered by the EU budget at 31 December 2015. It provides further information on the risk borne by the EU budget related to Member States and third countries. An ...
... This working document is published in parallel with the report of the Commission to the European Parliament and the Council on guarantees covered by the EU budget at 31 December 2015. It provides further information on the risk borne by the EU budget related to Member States and third countries. An ...
Graph no. 2.2.1
... CZK out of a total debt of 1,105.8 billion CZK) and this especially involves long-term bonds (884.7 billion CZK). The high nominal value of the consolidated debt of the government sector of the Czech Republic, which increased by 43% in comparison with 2003, logically influenced the size of the yearl ...
... CZK out of a total debt of 1,105.8 billion CZK) and this especially involves long-term bonds (884.7 billion CZK). The high nominal value of the consolidated debt of the government sector of the Czech Republic, which increased by 43% in comparison with 2003, logically influenced the size of the yearl ...
External financing and economic activity in the euro area
... and prices because means of payments that were hoarded get back into circulation, this may not necessarily be the case. Accordingly, one would at least expect that the average effect of changes in other sources of financing on macroeconomic variables is orders of magnitude smaller than the direct on ...
... and prices because means of payments that were hoarded get back into circulation, this may not necessarily be the case. Accordingly, one would at least expect that the average effect of changes in other sources of financing on macroeconomic variables is orders of magnitude smaller than the direct on ...
Monetary Policy Interim Report
... Thus, reliance of growth on domestic demand is declining. The changes in the external balance are gradually reversing an earlier trend of many years during which the growth of domestic demand was the main driver of GDP growth, whereas the change in external demand made a negative contribution. Since ...
... Thus, reliance of growth on domestic demand is declining. The changes in the external balance are gradually reversing an earlier trend of many years during which the growth of domestic demand was the main driver of GDP growth, whereas the change in external demand made a negative contribution. Since ...
Bohn-01April-screen 326805 en
... relative to recent ones. In the real series, debts from WWI become noticeable, but pre-1916 values look negligible relative to current debt. The real series shows that debt growth from 1950-80 was entirely nominal, whereas the post-1980 debt growth was real. Figure 3 displays the ratio of U.S. publi ...
... relative to recent ones. In the real series, debts from WWI become noticeable, but pre-1916 values look negligible relative to current debt. The real series shows that debt growth from 1950-80 was entirely nominal, whereas the post-1980 debt growth was real. Figure 3 displays the ratio of U.S. publi ...
Optimum Currency Area Theory and EMU
... Figure 4:3 Indicators of Strictness of Employment Protection Legislation 2013 .................... 32 Figure 4:4 Fiscal Criterion: US vs. the Eurozone .................................................................... 34 Figure 4:5 Openness to Trade 2013 ........................................... ...
... Figure 4:3 Indicators of Strictness of Employment Protection Legislation 2013 .................... 32 Figure 4:4 Fiscal Criterion: US vs. the Eurozone .................................................................... 34 Figure 4:5 Openness to Trade 2013 ........................................... ...
learning units 1 to 11 with section references to the chapters of
... about a R200 note). In other words, its value is based on confidence. ...
... about a R200 note). In other words, its value is based on confidence. ...
the eurozone between austerity and default
... has been the imposition of austerity across the periphery, but also across much of the core. This turn of policy has major social costs and could prove highly damaging to European economies. Chapter 4 shows that austerity compresses the only element of aggregate demand that has demonstrated any dyna ...
... has been the imposition of austerity across the periphery, but also across much of the core. This turn of policy has major social costs and could prove highly damaging to European economies. Chapter 4 shows that austerity compresses the only element of aggregate demand that has demonstrated any dyna ...
mmi14-Schularick 19104681 en
... in the case of Germany, Japan, and the U.K. shooting past 200%). In the reconstruction boom of the Bretton Woods era, public debt levels gradually declined over the thirty years following the end of the war, reaching a nadir of about 30%–40% debt to GDP around the mid-1970s. Since the late 1970s, p ...
... in the case of Germany, Japan, and the U.K. shooting past 200%). In the reconstruction boom of the Bretton Woods era, public debt levels gradually declined over the thirty years following the end of the war, reaching a nadir of about 30%–40% debt to GDP around the mid-1970s. Since the late 1970s, p ...
PDF
... III. The Cost of Bon-owing and Credit Rationing The impact of fiscal restraints on debt issuance can in principle be investigated in analogous fashion. Models of credit rationing (e.g. Stiglitz and Weiss, 1981) suggest, however, that the relationship between debt and yields may be nonlinear, since a ...
... III. The Cost of Bon-owing and Credit Rationing The impact of fiscal restraints on debt issuance can in principle be investigated in analogous fashion. Models of credit rationing (e.g. Stiglitz and Weiss, 1981) suggest, however, that the relationship between debt and yields may be nonlinear, since a ...
spd04 Bohn-k 225540 en
... about 0.3% of GDP (col.2). The debt-GDP ratio, in contrast, has remained essentially constant (col.7), suggesting that (1 it ) /(1 J t ) 1 must have been negative on average. Col.4 confirms that the growth dividend has been enough to cover average interest changes and primary deficits. Economic g ...
... about 0.3% of GDP (col.2). The debt-GDP ratio, in contrast, has remained essentially constant (col.7), suggesting that (1 it ) /(1 J t ) 1 must have been negative on average. Col.4 confirms that the growth dividend has been enough to cover average interest changes and primary deficits. Economic g ...
Monetary policy, asset prices and actuarial practice
... Fisher was that an increase in the quantity of money – which may be caused by a reduction in central bank interest rates - does not decrease its velocity. There is a cost for individuals, industrial firms and financial institutions when they hold money because it bears no interest. If the quantity o ...
... Fisher was that an increase in the quantity of money – which may be caused by a reduction in central bank interest rates - does not decrease its velocity. There is a cost for individuals, industrial firms and financial institutions when they hold money because it bears no interest. If the quantity o ...
NBER WORKING PAPER SERIES DEBT RELIEF AND FISCAL SUSTAINABILITY Sebastian Edwards 8939
... the HIPC initiative can be found in the following IMF-maintained web site: http://www.imf.org/external/np/exr/facts/hipc.htm ...
... the HIPC initiative can be found in the following IMF-maintained web site: http://www.imf.org/external/np/exr/facts/hipc.htm ...
The Effect of Macroeconomic Variables on Market Risk
... higher profit compared to other forms of investment, such as bank deposits or government bonds, stock market, however, entails various degrees of risk. The reward for the risk is market premium – the value which represents the extra return that investors receive considering the risk from investing i ...
... higher profit compared to other forms of investment, such as bank deposits or government bonds, stock market, however, entails various degrees of risk. The reward for the risk is market premium – the value which represents the extra return that investors receive considering the risk from investing i ...
A Literature Overview of the Central Bank’s Knowledge Transparency M. Haluk GÜLER
... higherorder uncertainty where the agents are also uncertain about the ‘others’ expectations of others’ expectations’. Such a mechanism causes delays and rigidities in strategic decisions; thus, a transitory shock turns out to have highly persistent effects on the economy (Woodford 2001). Since trans ...
... higherorder uncertainty where the agents are also uncertain about the ‘others’ expectations of others’ expectations’. Such a mechanism causes delays and rigidities in strategic decisions; thus, a transitory shock turns out to have highly persistent effects on the economy (Woodford 2001). Since trans ...
Macroeconomics Chamberlin and Yueh
... • Given that much of the capital account constitutes shortterm financial flows, it may also account for the observed volatility in short term exchange rates. • Whereas PPP determines the exchange rate to arbitrage prices in the goods market, Uncovered Interest Parity (UIP) does a similar thing in th ...
... • Given that much of the capital account constitutes shortterm financial flows, it may also account for the observed volatility in short term exchange rates. • Whereas PPP determines the exchange rate to arbitrage prices in the goods market, Uncovered Interest Parity (UIP) does a similar thing in th ...
BEING KEYNESIAN IN THE SHORT TERM AND CLASSICAL IN
... stock, as well as prices. Short-term variables include demand (consumption and investment), output (or, what is equivalent, since productive capacity is given in the short term, the capacity utilization rates) and, possibly, inventories. For given values of capital stocks, the money stock, and price ...
... stock, as well as prices. Short-term variables include demand (consumption and investment), output (or, what is equivalent, since productive capacity is given in the short term, the capacity utilization rates) and, possibly, inventories. For given values of capital stocks, the money stock, and price ...
