Speech at The Euro and the Dollar in a Globalized... U.C. Santa Cruz, Santa Cruz, CA
... By Janet L. Yellen, President and CEO of the Federal Reserve Bank of San Francisco For delivery on Saturday, May 27, 2006, 9:00 PM Pacific Time Monetary Policy in a Global Environment My topic tonight is globalization and the conduct of U.S. monetary policy. At issue is whether globalization has alt ...
... By Janet L. Yellen, President and CEO of the Federal Reserve Bank of San Francisco For delivery on Saturday, May 27, 2006, 9:00 PM Pacific Time Monetary Policy in a Global Environment My topic tonight is globalization and the conduct of U.S. monetary policy. At issue is whether globalization has alt ...
monetary ingration and country risk of the eu newcomers bulgaria
... The recent EU accession, which has enlarged the Union to 27 member states, has brought Bulgaria and Romania even more to the focus of European and international investors. While the economic integration and the advancement of the institutional framework that the EU accession has brought the two new ...
... The recent EU accession, which has enlarged the Union to 27 member states, has brought Bulgaria and Romania even more to the focus of European and international investors. While the economic integration and the advancement of the institutional framework that the EU accession has brought the two new ...
National income accounting:
... 1. If the CPI (=consumper price index) in 2006 was 100 and in 2007 was 104.5, and your nominal hourly wage was 110 kronor in 2006 and was 112 in 2007. What was the inflation rate between 2006 and 2007? By how many percent did the nominal wage increase? How the real wage develop, in percentage terms. ...
... 1. If the CPI (=consumper price index) in 2006 was 100 and in 2007 was 104.5, and your nominal hourly wage was 110 kronor in 2006 and was 112 in 2007. What was the inflation rate between 2006 and 2007? By how many percent did the nominal wage increase? How the real wage develop, in percentage terms. ...
According to the treaty of European Union (Maastricht Treaty), a
... same directions. That implies that the supervision of monetary policy is a matter of common concern. Primary goal of stabilization policy in the Treaty on European Union is price stability. Stabilization policy to expand employment may produce a high and unstable inflation, and is inconsistent with ...
... same directions. That implies that the supervision of monetary policy is a matter of common concern. Primary goal of stabilization policy in the Treaty on European Union is price stability. Stabilization policy to expand employment may produce a high and unstable inflation, and is inconsistent with ...
Carbaugh Intl Econ 8e Chapter 17
... a BOP deficit, a currency devaluation would encourage exports and help boost domestic ...
... a BOP deficit, a currency devaluation would encourage exports and help boost domestic ...
Reading Ch 1 Money Growth (M2 Annual Rate) and the Business
... According to Sperling-Kudlow we should have had a sharp rebound post 2Q09 similar to the pattern of recovery after the sharp recessions of 1974-5 and 1981-2. But the rate of real M2 growth after those two recessions was far higher than 2Q09-2Q12. Given the relatively low rate of money growth after 2 ...
... According to Sperling-Kudlow we should have had a sharp rebound post 2Q09 similar to the pattern of recovery after the sharp recessions of 1974-5 and 1981-2. But the rate of real M2 growth after those two recessions was far higher than 2Q09-2Q12. Given the relatively low rate of money growth after 2 ...
Monetary policy and forward guidance in the UK
... inflation pressures appear relatively well contained and consistent with a return to target then it is only when there has been a sustained recovery that has eaten significantly into slack that policy will be tightened. And in fact although I think the, relatively modest, tightening in effective mon ...
... inflation pressures appear relatively well contained and consistent with a return to target then it is only when there has been a sustained recovery that has eaten significantly into slack that policy will be tightened. And in fact although I think the, relatively modest, tightening in effective mon ...
Differences in Canadian and US Income Levels, 1961 to
... 3 The Canada/US Purchasing Power Parity Rate Going from estimating income within one country to comparing across countries with different currencies and prices requires an appropriate exchange rate to convert Canadian and American incomes to a common currency. Market-based exchange rates are an obv ...
... 3 The Canada/US Purchasing Power Parity Rate Going from estimating income within one country to comparing across countries with different currencies and prices requires an appropriate exchange rate to convert Canadian and American incomes to a common currency. Market-based exchange rates are an obv ...
A Tour of The World
... Can Europe reduce its unemployment rate? Should the United States reduce its trade deficit? ...
... Can Europe reduce its unemployment rate? Should the United States reduce its trade deficit? ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Exchange Rate Theory and Practice
... with the rest of the world. 3. The sources and types of economic disturbances giving rise to fluctuations in exchange rates. To some extent the analysis will follow that of the literature on fixed versus flexible exchange rates, of which Mundell’s (1963) study is representative. But the decision to ...
... with the rest of the world. 3. The sources and types of economic disturbances giving rise to fluctuations in exchange rates. To some extent the analysis will follow that of the literature on fixed versus flexible exchange rates, of which Mundell’s (1963) study is representative. But the decision to ...
Crises in Asia or Crisis of Globalisation? Heribert Dieter November 1998
... essence forced the government to take over the debt of failing private borrowers. The argument was that the credit of the country would be impaired unless the government stood behind its domestic firms. It might have been expected that the lenders' interest in being repaid would be sufficient for th ...
... essence forced the government to take over the debt of failing private borrowers. The argument was that the credit of the country would be impaired unless the government stood behind its domestic firms. It might have been expected that the lenders' interest in being repaid would be sufficient for th ...
Rebalancing Act: Global Imbalances in a Changing World
... persistent current account imbalances lasting through much of the period, a condition which offers some possible parallels to today’s situation. Beginning in the nineteenth century, improvements in shipping and communications technology and widespread adoption of the gold standard led to a surge in ...
... persistent current account imbalances lasting through much of the period, a condition which offers some possible parallels to today’s situation. Beginning in the nineteenth century, improvements in shipping and communications technology and widespread adoption of the gold standard led to a surge in ...
Bank of England Inflation Report August 2009
... (a) Chart 5.7 represents a cross-section of the CPI inflation fan chart in 2011 Q3 for the market interest rate projection. It has been conditioned on the assumption that the stock of purchased assets financed by the issuance of central bank reserves reaches £175 billion and remains there throughout ...
... (a) Chart 5.7 represents a cross-section of the CPI inflation fan chart in 2011 Q3 for the market interest rate projection. It has been conditioned on the assumption that the stock of purchased assets financed by the issuance of central bank reserves reaches £175 billion and remains there throughout ...
How Important Are Foreign Shocks in Small Open
... question empirically using the data from one of the EU new members, Slovakia. More specifically, we estimate two-country VAR model and assess the relative importance of euro area shocks for Slovak economy. Slovakia will join the euro area in January 2009 and therefore, it is of great interest to pol ...
... question empirically using the data from one of the EU new members, Slovakia. More specifically, we estimate two-country VAR model and assess the relative importance of euro area shocks for Slovak economy. Slovakia will join the euro area in January 2009 and therefore, it is of great interest to pol ...
The Business Cycle in the Philippines
... and 1997-2000 with initially very erratic but over time smoother fluctuations. In resemblance with industrialized countries, investment turns out to be the most volatile and consumption the least volatile national expenditure component, potentially pointing at Keynes’ assertion of “animal spirits” o ...
... and 1997-2000 with initially very erratic but over time smoother fluctuations. In resemblance with industrialized countries, investment turns out to be the most volatile and consumption the least volatile national expenditure component, potentially pointing at Keynes’ assertion of “animal spirits” o ...
A Review of Philippine Monetary Policy Towards An Alternative Monetary... Joseph Lim 3-D 12
... interpret large trade deficits as ‘overspending’ and require monetary and fiscal tightness. Thus, although monetary targeting is supposed to target only one variable – inflation – it is also affected by foreign exchange depletion and capital outflows during crises. ...
... interpret large trade deficits as ‘overspending’ and require monetary and fiscal tightness. Thus, although monetary targeting is supposed to target only one variable – inflation – it is also affected by foreign exchange depletion and capital outflows during crises. ...
Cyclical patterns of the spanish economy
... that of output, are weakly countercyclical and tend to move with a one period lead. By component, both exports and imports are highly volatile. While exports are weakly procyclica1 and lead output by two or three periods, imports are strongly procyclica1 and lead output by just one period. The fact ...
... that of output, are weakly countercyclical and tend to move with a one period lead. By component, both exports and imports are highly volatile. While exports are weakly procyclica1 and lead output by two or three periods, imports are strongly procyclica1 and lead output by just one period. The fact ...
The Fiscal and Monetary History of Colombia: 1963-2012 1 Introduction
... central government and its sources of financing during the period between 1963 and 2012. The paper identifies three periods in which primary deficits were financed mainly with foreign debt (1963-1975), monetary emission (1976-1991) and domestic debt (1991-2012). A detailed analysis of these periods ...
... central government and its sources of financing during the period between 1963 and 2012. The paper identifies three periods in which primary deficits were financed mainly with foreign debt (1963-1975), monetary emission (1976-1991) and domestic debt (1991-2012). A detailed analysis of these periods ...
Balance of Payments: Accounts and Analysis
... reduction in foreign liabilities is recorded on the debit side, with a negative sign (-) A reduction in foreign assets is recorded on the credit side, with a positive sign (+) Due to this convention, An increase in foreign reserves is recorded on the debit side, i.e., with a negative sign (-) ...
... reduction in foreign liabilities is recorded on the debit side, with a negative sign (-) A reduction in foreign assets is recorded on the credit side, with a positive sign (+) Due to this convention, An increase in foreign reserves is recorded on the debit side, i.e., with a negative sign (-) ...
OCR Economics: Macroeconomics 1
... output has actually fallen. A recession is defined as two successive quarters of negative growth. Since the credit crunch of 2007–08, the UK has experienced a recession on two occasions, giving rise to the term ‘double-dip recession’. It narrowly avoided going into recession again in 2013, which wou ...
... output has actually fallen. A recession is defined as two successive quarters of negative growth. Since the credit crunch of 2007–08, the UK has experienced a recession on two occasions, giving rise to the term ‘double-dip recession’. It narrowly avoided going into recession again in 2013, which wou ...
F CHAPTER 1. REGIONAL ECONOMIC DEVELOPMENTS AND PROSPECTS
... So the positive and negative impacts of China on global inflation apparently cancel each other out. Countering the downward pressure on export prices and wages from low-cost production in China and the managed value of the yuan are raising world commodity prices due to high demand from China. It is ...
... So the positive and negative impacts of China on global inflation apparently cancel each other out. Countering the downward pressure on export prices and wages from low-cost production in China and the managed value of the yuan are raising world commodity prices due to high demand from China. It is ...
Chapter 12
... According to the quantity theory of money, V is relatively stable over time, or at least is independent of changes in the money supply, M. If, in addition, Y is interpreted as potential GDP and potential GDP is constant, then any percentage change in M will cause an equal percentage change in P. For ...
... According to the quantity theory of money, V is relatively stable over time, or at least is independent of changes in the money supply, M. If, in addition, Y is interpreted as potential GDP and potential GDP is constant, then any percentage change in M will cause an equal percentage change in P. For ...
The Poolean Consensus Model: The Strategic Scope of Monetary
... process of continuing price increases, i.e. inflation. However, only the latter can also trigger positive inflation expectations and/or changes therein. Even if all major central banks should have abandoned any money supply control (which is not the case at all in the current crisis), it would remai ...
... process of continuing price increases, i.e. inflation. However, only the latter can also trigger positive inflation expectations and/or changes therein. Even if all major central banks should have abandoned any money supply control (which is not the case at all in the current crisis), it would remai ...
NBER WORKING PAPER SERIES AREAS Pierre-Richard Agenor
... of two monetary arrangements: a system of independent national currencies and a single currency area. They find that the presence of country-specific shocks may either reduce or enhance the benefits of a single currency area, depending on the importance of exchange rate adjustment relative to risksh ...
... of two monetary arrangements: a system of independent national currencies and a single currency area. They find that the presence of country-specific shocks may either reduce or enhance the benefits of a single currency area, depending on the importance of exchange rate adjustment relative to risksh ...
No.253 / June 2008 Exposure in External Balance Sheets
... Svensson 1989, Neumeyer 1998 and Kim 2002). Most recently, the new macro-…nance literature in which cross-border portfolio positions are endogenously determined has also emphasised the potential role played by nominal assets and liabilities in contributing to international risk sharing. The mechanis ...
... Svensson 1989, Neumeyer 1998 and Kim 2002). Most recently, the new macro-…nance literature in which cross-border portfolio positions are endogenously determined has also emphasised the potential role played by nominal assets and liabilities in contributing to international risk sharing. The mechanis ...