NBER WORKING PAPER SERIES EXCHANGE RATE VOLATILITY AND PRODUCTIVITY
... country’s de facto degree of exchange rate ‡exibility is interacted with its level of …nancial development the results prove both robust and highly signi…cant. We consider various measures of exchange rate ‡exibility, including the volatility of the real e¤ective exchange rate and the exchange rate ...
... country’s de facto degree of exchange rate ‡exibility is interacted with its level of …nancial development the results prove both robust and highly signi…cant. We consider various measures of exchange rate ‡exibility, including the volatility of the real e¤ective exchange rate and the exchange rate ...
301LONU4K2
... Challenges of Doing Business in Emerging Markets (cont.) • Poor physical infrastructure: Basic elements of infrastructure, such as high-quality roads, drainage systems, sewers, and electrical utilities, are often sorely lacking in emerging markets. • Partner availability and qualifications: Given e ...
... Challenges of Doing Business in Emerging Markets (cont.) • Poor physical infrastructure: Basic elements of infrastructure, such as high-quality roads, drainage systems, sewers, and electrical utilities, are often sorely lacking in emerging markets. • Partner availability and qualifications: Given e ...
FRBSF E L CONOMIC ETTER
... few zoning complications or because there is an abundance of open land on which to build new structures. Again, holding all other features of the economy constant, we would expect that vacancy rates would tend to be high in this type of market. Favorable economic developments, such as high employmen ...
... few zoning complications or because there is an abundance of open land on which to build new structures. Again, holding all other features of the economy constant, we would expect that vacancy rates would tend to be high in this type of market. Favorable economic developments, such as high employmen ...
Is Numérairology the Future of Monetary Economics?
... however. Central Banks throughout the world are committed to the pursuit of price stability, often (though not always, as the case of the US demonstrates) through the adoption and pursuit of a low and stable target for the rate of inflation.3 With the world-wide decline in long-run risk-free real in ...
... however. Central Banks throughout the world are committed to the pursuit of price stability, often (though not always, as the case of the US demonstrates) through the adoption and pursuit of a low and stable target for the rate of inflation.3 With the world-wide decline in long-run risk-free real in ...
Practice Problems on NIPA and Key Prices
... 7- Explain the differences among the nominal interest rate, the real interest rate, and the expected real interest rate. Which interest rate concept is the most important for the decisions made by borrowers and lenders? Why? The nominal interest rate is the rate at which the nominal (or dollar) valu ...
... 7- Explain the differences among the nominal interest rate, the real interest rate, and the expected real interest rate. Which interest rate concept is the most important for the decisions made by borrowers and lenders? Why? The nominal interest rate is the rate at which the nominal (or dollar) valu ...
Chapter 33 — TRADEOFF BETWEEN INFLATION AND
... If the Fed acts on its belief that the natural rate of unemployment is 6 percent, when the natural rate is in fact 5.5 percent, the result will be a spiraling down of the inflation rate, as shown in Figure 33-16. Starting from a point on the long-run Phillips curve, with an unemployment rate of 5.5 ...
... If the Fed acts on its belief that the natural rate of unemployment is 6 percent, when the natural rate is in fact 5.5 percent, the result will be a spiraling down of the inflation rate, as shown in Figure 33-16. Starting from a point on the long-run Phillips curve, with an unemployment rate of 5.5 ...
Chapter 7 B
... inflation. Interest payments may be less than the inflation rate. Borrowers are paying back money that have less purchasing power for the lender. If inflation is predictable, the effects of inflation may be less severe, since wage and pension contracts may have inflation clauses built in, and intere ...
... inflation. Interest payments may be less than the inflation rate. Borrowers are paying back money that have less purchasing power for the lender. If inflation is predictable, the effects of inflation may be less severe, since wage and pension contracts may have inflation clauses built in, and intere ...
The Euro: `As bad as gold`? - Lund University Publications
... Great Depression (Obstfeld and Rogoff, 1996, p.627). With only American data to work with, it is not surprising that economists came to different conclusions as to the origins and the transmission mechanisms of the economic crisis. Friedman and Schwartz (1963) accused the Federal Reserve of being re ...
... Great Depression (Obstfeld and Rogoff, 1996, p.627). With only American data to work with, it is not surprising that economists came to different conclusions as to the origins and the transmission mechanisms of the economic crisis. Friedman and Schwartz (1963) accused the Federal Reserve of being re ...
Technology and Employment in an Open Underdeveloped Economy 01/2006 Prabhat Patnaik
... are much higher than those prevailing either in the first world or in the rest of the third world. Secondly, in both these economies this high growth phase has been associated with “opening up” to international trade. Thirdly, in both these economies there has been, precisely during this period, a r ...
... are much higher than those prevailing either in the first world or in the rest of the third world. Secondly, in both these economies this high growth phase has been associated with “opening up” to international trade. Thirdly, in both these economies there has been, precisely during this period, a r ...
Ch 17
... Active Versus Passive Policymaking • Active (Discretionary) Policymaking – All actions on the part of monetary and fiscal policymakers that are undertaken in response to or in anticipation of some change in the overall economy – Examples are monetary and fiscal policy ...
... Active Versus Passive Policymaking • Active (Discretionary) Policymaking – All actions on the part of monetary and fiscal policymakers that are undertaken in response to or in anticipation of some change in the overall economy – Examples are monetary and fiscal policy ...
Section 1.3: Advantages of monetary economy over
... There are many different measures of general price level. The most common ones are consumer price index (CPI), producer price index (PPI), and GDP deflator. They differ by the composition of the baskets of goods and services from which they are constructed. Consumer price index is based on the baske ...
... There are many different measures of general price level. The most common ones are consumer price index (CPI), producer price index (PPI), and GDP deflator. They differ by the composition of the baskets of goods and services from which they are constructed. Consumer price index is based on the baske ...
Middle East and North Africa Area Note
... billion dollar (compared to the 84 billion dollar in the same timeframe of the previous year); at the same time, they have issued securities for 25 billion dollar on the internal market and for 17.5 billion dollar on the international markets, also drawing from loans in foreign banks for 10 billion ...
... billion dollar (compared to the 84 billion dollar in the same timeframe of the previous year); at the same time, they have issued securities for 25 billion dollar on the internal market and for 17.5 billion dollar on the international markets, also drawing from loans in foreign banks for 10 billion ...
Pass Workbook - University of Queensland
... 2. What is Gross Domestic Product? Explain the concept in terms of what, where and when goods are produced. ...
... 2. What is Gross Domestic Product? Explain the concept in terms of what, where and when goods are produced. ...
Slide 1
... What happens on impact? Yt is unaffected and still grows at the rate of n, and yt is unaffected. But savings decrease and consumption increases. There is full crowding out. What happens in the longer run? During a transitional period Yt grows more slowly than at the rate of n and yt falls down to a ...
... What happens on impact? Yt is unaffected and still grows at the rate of n, and yt is unaffected. But savings decrease and consumption increases. There is full crowding out. What happens in the longer run? During a transitional period Yt grows more slowly than at the rate of n and yt falls down to a ...
The Phillips Curve and the Short-Run Aggregate Supply Curve This
... and inflation and shows how that relationship can be used to derive the short-run aggregate supply curve. The Phillips Curve A. A.W. Phillips found that unemployment was negatively related to wage growth in the United Kingdom. 1. Other economists have found this same negative relationship in many ot ...
... and inflation and shows how that relationship can be used to derive the short-run aggregate supply curve. The Phillips Curve A. A.W. Phillips found that unemployment was negatively related to wage growth in the United Kingdom. 1. Other economists have found this same negative relationship in many ot ...
PDF
... In 1978. China beganapl"ogram of modernisation andeeonomic rerorm$~Opening up totbe outside world has been a major part of this program. The processor economic refooos undertaken since 1978 bas been the major factor behind China's strong economic perfonnance over the past decade. Theserefonnsfirstbe ...
... In 1978. China beganapl"ogram of modernisation andeeonomic rerorm$~Opening up totbe outside world has been a major part of this program. The processor economic refooos undertaken since 1978 bas been the major factor behind China's strong economic perfonnance over the past decade. Theserefonnsfirstbe ...
Four Goals for Higher Job-Rich Growth
... FACT: The imbalance in our trade situation is evidenced by our negative trade balance with China, which rapidly outstripped the negative trade balance with all other trading partners FACT: There will be further decline over the next two years unless key domestic policy issues and the unfair trade si ...
... FACT: The imbalance in our trade situation is evidenced by our negative trade balance with China, which rapidly outstripped the negative trade balance with all other trading partners FACT: There will be further decline over the next two years unless key domestic policy issues and the unfair trade si ...
growth2
... higher physical or human capital per worker also tend to have higher production efficiency. ...
... higher physical or human capital per worker also tend to have higher production efficiency. ...
Document
... change in relative prices, but it can obscure them This occurs because of the greater uncertainty about the price of one good relative to another Since prices usually do not move in unison, tying a particular product’s price to the overall inflation rate may result in a price that is too high or too ...
... change in relative prices, but it can obscure them This occurs because of the greater uncertainty about the price of one good relative to another Since prices usually do not move in unison, tying a particular product’s price to the overall inflation rate may result in a price that is too high or too ...
SUMMARY Hyperinflation In the period between 1992 and 1994
... Thus, for example, on 13 January in the morning, street sellers "dealers" were selling the DM for 500,000, about noon for 600,000, and in the evening hours for 800,000 dinars. The noon „black“exchange rate of the DM was on 14 January 900,000, on 15 – 2,500,000, on 16 – 3,500,000, on 17 – 5,000,000, ...
... Thus, for example, on 13 January in the morning, street sellers "dealers" were selling the DM for 500,000, about noon for 600,000, and in the evening hours for 800,000 dinars. The noon „black“exchange rate of the DM was on 14 January 900,000, on 15 – 2,500,000, on 16 – 3,500,000, on 17 – 5,000,000, ...
growth, employment and redistribution a
... and structural adjustment under terms set by international agencies would be unavoidable. Leaving aside this risk, growth forecasts have already been revised downwards by most professional analysts. It is recognised that the burden of the adjustment in the short term will fall on monetary policy and ...
... and structural adjustment under terms set by international agencies would be unavoidable. Leaving aside this risk, growth forecasts have already been revised downwards by most professional analysts. It is recognised that the burden of the adjustment in the short term will fall on monetary policy and ...
Open Economy Macroeconomics: Basic Concepts
... 9. The student attends class. Life is far too short not to learn all you possibly can the first time around. See also, An Important Note About Unexcused Absences and Late Work, above. ...
... 9. The student attends class. Life is far too short not to learn all you possibly can the first time around. See also, An Important Note About Unexcused Absences and Late Work, above. ...
Economic Review no 2 - National Bank of Rwanda
... markets, resulted in the weakening of the dollar against major foreign currencies. The spread between the reference rate and the three-month rate widened during this period. On annual average, the American three-month rates stood at 5.3% in 2007, against 5.19% the previous year. ...
... markets, resulted in the weakening of the dollar against major foreign currencies. The spread between the reference rate and the three-month rate widened during this period. On annual average, the American three-month rates stood at 5.3% in 2007, against 5.19% the previous year. ...
The UK recession in context
... contribute to a structural fall in the consumption-income ratio (1) Solomou and Wu (2002) argue that the weather and agriculture may also have been important in driving cycles in the late 19th century, although its impact was less given its lower share in GDP. (2) This split between driver and non-d ...
... contribute to a structural fall in the consumption-income ratio (1) Solomou and Wu (2002) argue that the weather and agriculture may also have been important in driving cycles in the late 19th century, although its impact was less given its lower share in GDP. (2) This split between driver and non-d ...
C:\Documents and Settings\Ivan
... If we view this game as a simultaneous game (where the Fed and the Firm choose their actions simultaneously), the game has two Nash equilibria: (Raise M, Raise P) and (Don’t raise M, Don’t raise P). (Recall that a pair of actions, (s1,s2) is a Nash equilibrium if s1 is a best response to s2 and s2 ...
... If we view this game as a simultaneous game (where the Fed and the Firm choose their actions simultaneously), the game has two Nash equilibria: (Raise M, Raise P) and (Don’t raise M, Don’t raise P). (Recall that a pair of actions, (s1,s2) is a Nash equilibrium if s1 is a best response to s2 and s2 ...