Price-level targeting as a monetary policy strategy
... tionships as well as the central bank’s monet- ...
... tionships as well as the central bank’s monet- ...
2014-2018 - Mauritius Country Strategy Paper
... transitioning from a Low Income into an upper Middle Income Country (MIC). Strong institutions in a politically stable and thriving business environment and effective use of trade preferences particularly with Europe and India have been instrumental in driving growth and facilitating an impressive e ...
... transitioning from a Low Income into an upper Middle Income Country (MIC). Strong institutions in a politically stable and thriving business environment and effective use of trade preferences particularly with Europe and India have been instrumental in driving growth and facilitating an impressive e ...
DEBT SUSTAINABILITY FRAMEWORK
... • Domestic public debt is significant in some LICs • It carries higher risks due to shorter maturities and higher interest rates than external public debt • Methodology is being developed to prepare DSAs for total public debt • A DSA for domestic public debt should be done at the same time as that f ...
... • Domestic public debt is significant in some LICs • It carries higher risks due to shorter maturities and higher interest rates than external public debt • Methodology is being developed to prepare DSAs for total public debt • A DSA for domestic public debt should be done at the same time as that f ...
Download (PDF)
... according to an expectations-augmented Phillips curve. πit of inflation expected to prevail during time period t, which is formed according to the hypothesis of adaptive expectations at (the end of) time period t − 1 (equation (5)). εi ∈ [0, 1] are positive parameters determining the speed of adjust ...
... according to an expectations-augmented Phillips curve. πit of inflation expected to prevail during time period t, which is formed according to the hypothesis of adaptive expectations at (the end of) time period t − 1 (equation (5)). εi ∈ [0, 1] are positive parameters determining the speed of adjust ...
US equities
... any investment or other specific product. The analysis contained herein does not constitute a personal recommendation or take into account the particular investment objectives, investment strategies, financial situation and needs of any specific recipient. It is based on numerous assumptions. Differ ...
... any investment or other specific product. The analysis contained herein does not constitute a personal recommendation or take into account the particular investment objectives, investment strategies, financial situation and needs of any specific recipient. It is based on numerous assumptions. Differ ...
Krugman on Keynes
... Keynes’s appreciation of the power of the reigning orthodoxy also explains the measured pace of his writing. “The composition of this book,” wrote Keynes in the preface, “has been for the author a long struggle of escape, and so must the reading of it be.” Step by step, Keynes set out to liberate e ...
... Keynes’s appreciation of the power of the reigning orthodoxy also explains the measured pace of his writing. “The composition of this book,” wrote Keynes in the preface, “has been for the author a long struggle of escape, and so must the reading of it be.” Step by step, Keynes set out to liberate e ...
Introduction by Paul Krugman to The General Theory of Employment
... He knew that he had to offer a coherent, carefully reasoned challenge to the reigning orthodoxy to change peoples’ minds. In Book I, as Keynes gives us a first taste of what he’s going to do, he writes of Malthus, whose intuition told him that general failures of demand were possible, but had no mod ...
... He knew that he had to offer a coherent, carefully reasoned challenge to the reigning orthodoxy to change peoples’ minds. In Book I, as Keynes gives us a first taste of what he’s going to do, he writes of Malthus, whose intuition told him that general failures of demand were possible, but had no mod ...
Introduction by Paul Krugman to The General Theory of Employment
... universities that had planned to adopt the book for their courses cancelled their orders, and sales of the book, which was initially very successful, collapsed. Professors at Yale University, to their credit, continued to assign the book; their reward was to be attacked by the young William F. Buckl ...
... universities that had planned to adopt the book for their courses cancelled their orders, and sales of the book, which was initially very successful, collapsed. Professors at Yale University, to their credit, continued to assign the book; their reward was to be attacked by the young William F. Buckl ...
The sustainability of public finances lies at the core of sound
... of currency crisis being systematically linked to the size of hidden deficits for Malaysia, Indonesia, Korea, Philippines and Thailand. This is particularly important considering that all of these countries exhibited either small budget deficits or surpluses. ...
... of currency crisis being systematically linked to the size of hidden deficits for Malaysia, Indonesia, Korea, Philippines and Thailand. This is particularly important considering that all of these countries exhibited either small budget deficits or surpluses. ...
NBER WORKING PAPER SERIES RECESSION Joshua Aizenman
... correlated with net portfolio inflows in any quarter of 2008 or during 2009Q1. The percentage changes in banking sector stocks and in stock market indices are significantly correlated with net capital inflows in both the crisis quarters, i.e. countries with higher net capital inflows during crisis q ...
... correlated with net portfolio inflows in any quarter of 2008 or during 2009Q1. The percentage changes in banking sector stocks and in stock market indices are significantly correlated with net capital inflows in both the crisis quarters, i.e. countries with higher net capital inflows during crisis q ...
SP227: Lost at Sea: The Euro Needs a Euro Treasury
... credibility of monetary and fiscal policies would add stability to the policy regime. Macroeconomic policies focused on price stability and constrained by balanced-budget rules suggest themselves as “sound”, on this view. Arguably, the preoccupations of OCA theory have been of rather limited value ...
... credibility of monetary and fiscal policies would add stability to the policy regime. Macroeconomic policies focused on price stability and constrained by balanced-budget rules suggest themselves as “sound”, on this view. Arguably, the preoccupations of OCA theory have been of rather limited value ...
Principles of Economics, Case and Fair,9e
... 20.1 Introduction International trade is a major part of today’s world economy. When people in different countries buy from and sell to each other, an exchange of currencies must also take place. The main difference between a domestic transaction and an international transaction concerns currency ex ...
... 20.1 Introduction International trade is a major part of today’s world economy. When people in different countries buy from and sell to each other, an exchange of currencies must also take place. The main difference between a domestic transaction and an international transaction concerns currency ex ...
Cross-Currency Exposures to the Swiss Franc*
... This paper relates to a growing literature on the role of the Swiss Franc in international balance sheets and international financial flows. Recent contributions include Auer (2015), Auer and Tille (2015), Habib and Stracca (2013) and Nitschka (2014) focusing on the safe heaven role of securities de ...
... This paper relates to a growing literature on the role of the Swiss Franc in international balance sheets and international financial flows. Recent contributions include Auer (2015), Auer and Tille (2015), Habib and Stracca (2013) and Nitschka (2014) focusing on the safe heaven role of securities de ...
mmi12-Benassy-Quere 17769011 en
... change of status from best to worst in class has questioned traditional analyses of fiscal sustainability. The Stability and Growth Pact has been revamped to account for excess leverage in the private sector and cumulated losses in competitiveness. Furthermore, in times of a financial crisis, the go ...
... change of status from best to worst in class has questioned traditional analyses of fiscal sustainability. The Stability and Growth Pact has been revamped to account for excess leverage in the private sector and cumulated losses in competitiveness. Furthermore, in times of a financial crisis, the go ...
Dealing with Debt - Scholars at Harvard
... of the menu in the years to come. In the event, there is ample precedent for orthodox and heterodox choices in the record of central government debt consolidations across 22 advanced economies since the Napoleonic War. The choices are generally more generous and more diverse for debt that is governe ...
... of the menu in the years to come. In the event, there is ample precedent for orthodox and heterodox choices in the record of central government debt consolidations across 22 advanced economies since the Napoleonic War. The choices are generally more generous and more diverse for debt that is governe ...
THE LAGS IN EFFECT OF MONETARY POLICY: A CASE STUDY
... that there is a significant impact of short term real interest rate on output. One percentage point rise in the short term real interest rate reduced output growth by one-fifth to one-quarter percent in the first year. While for the second and third year these estimates were found to be one-third an ...
... that there is a significant impact of short term real interest rate on output. One percentage point rise in the short term real interest rate reduced output growth by one-fifth to one-quarter percent in the first year. While for the second and third year these estimates were found to be one-third an ...
Lost at Sea: The Euro Needs a Euro Treasury
... “disciplined” national fiscal policies. Between 1999 and 2008 the European Union’s (EU) policy authorities never tired of boasting what a marvelous success story the euro was and what plentiful benefits it was bringing to Europe, and supposedly the world at large too. Remarkably, even as the global ...
... “disciplined” national fiscal policies. Between 1999 and 2008 the European Union’s (EU) policy authorities never tired of boasting what a marvelous success story the euro was and what plentiful benefits it was bringing to Europe, and supposedly the world at large too. Remarkably, even as the global ...
exchange rate
... The Open Economy With Flexible Exchange Rates The Effects of Exchange Rates on the Economy Exchange Rates and Prices The depreciation of a country’s currency tends to increase its price level. Monetary Policy with Flexible Exchange Rates A cheaper dollar is a good thing if the goal of the monetary e ...
... The Open Economy With Flexible Exchange Rates The Effects of Exchange Rates on the Economy Exchange Rates and Prices The depreciation of a country’s currency tends to increase its price level. Monetary Policy with Flexible Exchange Rates A cheaper dollar is a good thing if the goal of the monetary e ...
Garrison Lect-1. 4 Hayek and Friedman
... Friedman allows for a possible effect on interest rates: Holders of cash will…bid up the price of assets. If the extra demand is initially directed at a particular class of assets, say, government securities, or commercial paper, or the like, the result will be to pull the prices of such assets out ...
... Friedman allows for a possible effect on interest rates: Holders of cash will…bid up the price of assets. If the extra demand is initially directed at a particular class of assets, say, government securities, or commercial paper, or the like, the result will be to pull the prices of such assets out ...
WORKING PAPER SERIES Centre for Competitive Advantage in the Global Economy
... crisis of 2008/9. To restore order to public sector finances, Europe has put in train programmes of Fiscal Consolidation - mandatory for those countries in receipt of emergency Troika support. As the effects of Fiscal Consolidation have proved controversial - both in terms of the stated objectives a ...
... crisis of 2008/9. To restore order to public sector finances, Europe has put in train programmes of Fiscal Consolidation - mandatory for those countries in receipt of emergency Troika support. As the effects of Fiscal Consolidation have proved controversial - both in terms of the stated objectives a ...
Design and Implementation of a Common Currency Area in the East
... been high over the decades since independence and various regional groupings have been formed. Those initiatives were stimulated by the generally small size of individual economies leading to a desire to exploit economies of scale in production and distribution, as well as having more influence on t ...
... been high over the decades since independence and various regional groupings have been formed. Those initiatives were stimulated by the generally small size of individual economies leading to a desire to exploit economies of scale in production and distribution, as well as having more influence on t ...
The National Debt: Who Bears Its Burden?
... Although economists have long recognized that a national debt imposes an inescapable burden on a nation, they have debated whether the burden is borne by the generation who contracts the debt or is shifted forward to future generations. There has also been some controversy over the nature of the bur ...
... Although economists have long recognized that a national debt imposes an inescapable burden on a nation, they have debated whether the burden is borne by the generation who contracts the debt or is shifted forward to future generations. There has also been some controversy over the nature of the bur ...
MS Word - of Planning Commission
... public sector which includes the Central and State Governments, local authorities and public enterprises. An analysis of trends in savings and investment for each of these sectors throws light on emerging constraints and help to identify likely problems in the years ahead. The sectoral breakdown of ...
... public sector which includes the Central and State Governments, local authorities and public enterprises. An analysis of trends in savings and investment for each of these sectors throws light on emerging constraints and help to identify likely problems in the years ahead. The sectoral breakdown of ...
AP Government and Politics - United States: Monetry and
... Some programs are automatic, such as unemployment, while others are ad hoc. The same points can be made on the revenue side. The opposite types of activities can be utilized to slow economic expansion during periods of inflation. ...
... Some programs are automatic, such as unemployment, while others are ad hoc. The same points can be made on the revenue side. The opposite types of activities can be utilized to slow economic expansion during periods of inflation. ...
