NBER WORKING PAPER SERIES AN INTEGRATED APPROACH
... foreign good that are imperfect substitutes. The domestic good is a composite of a continuum of differentiated goods, each produced by an associated monopolistically competitive firm at home. The home economy is small in the sense that it does not influence foreign output, the foreign price level or ...
... foreign good that are imperfect substitutes. The domestic good is a composite of a continuum of differentiated goods, each produced by an associated monopolistically competitive firm at home. The home economy is small in the sense that it does not influence foreign output, the foreign price level or ...
Preparing for the AP Macroeconomics Test Exam Content The AP
... (increasing the supply in this graph), causing the price of bonds to drop and the interest rates in the market to rise, then Consumption and investment spending decrease (AD slightly down)- this is crowding out Can also be used with FED and monetary policy Open market operations changes the supply ...
... (increasing the supply in this graph), causing the price of bonds to drop and the interest rates in the market to rise, then Consumption and investment spending decrease (AD slightly down)- this is crowding out Can also be used with FED and monetary policy Open market operations changes the supply ...
HKUMacroch01_5e
... The IMF also publishes, twice a year, the World Economic Outlook, an assessment of macroeconomic developments in various parts of the world. In the United States, an extremely good annual resource is the Economic Report of the President, prepared by the Council of Economic Advisors. Copyright © ...
... The IMF also publishes, twice a year, the World Economic Outlook, an assessment of macroeconomic developments in various parts of the world. In the United States, an extremely good annual resource is the Economic Report of the President, prepared by the Council of Economic Advisors. Copyright © ...
NBER WORKING PAPER SERIES G7 CURRENT ACCOUNT IMBALANCES: SUSTAINABILITY AND ADJUSTMENT
... than deficits financing investment, and (iii) there is little evidence that deficits in economies that run persistent deficits, have large net foreign debt positions, experience greater short-term capital flows, or are less open are accommodated by more extensive exchange rate adjustment or slower g ...
... than deficits financing investment, and (iii) there is little evidence that deficits in economies that run persistent deficits, have large net foreign debt positions, experience greater short-term capital flows, or are less open are accommodated by more extensive exchange rate adjustment or slower g ...
Why Was the Plaza Accord Unique?
... policy can ignore the exchange rate and focus exclusively on domestic inflation, using a Taylor rule. Since the turn of this century, researchers have developed dynamic stochastic general equilibrium models that include nominal rigidities, monopolistic competition, and producer-currency pricing (Obs ...
... policy can ignore the exchange rate and focus exclusively on domestic inflation, using a Taylor rule. Since the turn of this century, researchers have developed dynamic stochastic general equilibrium models that include nominal rigidities, monopolistic competition, and producer-currency pricing (Obs ...
Debt Composition and Balance Sheet Effects of Exchange and
... sharply after the crisis from about 24% to 31%. Foreign debt which was about 60% of total debt, increased to more than 70%. It is also interesting to see that the ratio of short term debt to sales abroad is much higher than 1, although it has been decreasing in recent years. In the years leading up ...
... sharply after the crisis from about 24% to 31%. Foreign debt which was about 60% of total debt, increased to more than 70%. It is also interesting to see that the ratio of short term debt to sales abroad is much higher than 1, although it has been decreasing in recent years. In the years leading up ...
the global imbalances: what is the problem
... sometimes suggested, the IMF plays no significant role in this process, nor do international meetings of politicians or central bank governors. This is a market in which governments and central banks are indeed participants or actors, but in a decentralised way. It is well known that for some years ...
... sometimes suggested, the IMF plays no significant role in this process, nor do international meetings of politicians or central bank governors. This is a market in which governments and central banks are indeed participants or actors, but in a decentralised way. It is well known that for some years ...
East Asia: Success and Crisis
... Some papers have defined contagion as the influence of “news” about the creditworthiness, etc. of a borrower on the spreads charged to the other borrowers or equity prices, after controlling for country specific macroeconomic fundamentals (Doukas, 1989,Kaminsky and Schmukler, 1998) 2. Other studies, ...
... Some papers have defined contagion as the influence of “news” about the creditworthiness, etc. of a borrower on the spreads charged to the other borrowers or equity prices, after controlling for country specific macroeconomic fundamentals (Doukas, 1989,Kaminsky and Schmukler, 1998) 2. Other studies, ...
AP® Macroeconomics: Syllabus 1
... output, environmental conditions, civil liberties, or leisure time available. • International comparisons of absolute GDP figures usually use the current exchange rate so that the figures have a common denominator (U.S. dollars), but foreign exchange rates may not be a good indicator of the relativ ...
... output, environmental conditions, civil liberties, or leisure time available. • International comparisons of absolute GDP figures usually use the current exchange rate so that the figures have a common denominator (U.S. dollars), but foreign exchange rates may not be a good indicator of the relativ ...
Assessment Schedule – 2011
... years that despite a strengthening NZ$ (up to $0.80 against the $US in April 2011) the payout received by farmers has remained favourable. They would not be looking to change their production, as they have committed financially and physically to this product, and any other product produced would nee ...
... years that despite a strengthening NZ$ (up to $0.80 against the $US in April 2011) the payout received by farmers has remained favourable. They would not be looking to change their production, as they have committed financially and physically to this product, and any other product produced would nee ...
Schedule
... years that despite a strengthening NZ$ (up to $0.80 against the $US in April 2011) the payout received by farmers has remained favourable. They would not be looking to change their production, as they have committed financially and physically to this product, and any other product produced would nee ...
... years that despite a strengthening NZ$ (up to $0.80 against the $US in April 2011) the payout received by farmers has remained favourable. They would not be looking to change their production, as they have committed financially and physically to this product, and any other product produced would nee ...
A Simple, Structural, and Empirical Model of the Antipodean Transmission Mechanism ∗
... no effects on world shocks. Long-run restrictions, on the other hand, are derived from theoretical predictions that ‘demand shocks’ have no long run effects on macroeconomic variables, unlike, say, supply shocks. This approach has been used by, amongst other, Dungey and Pagan (2000) and Buckle et al. ...
... no effects on world shocks. Long-run restrictions, on the other hand, are derived from theoretical predictions that ‘demand shocks’ have no long run effects on macroeconomic variables, unlike, say, supply shocks. This approach has been used by, amongst other, Dungey and Pagan (2000) and Buckle et al. ...
BFH system
... and demand that determines the value of the unit of account. Under both fiat money and an ordinary commodity standard, the unit's value is determined by supply of and demand for money or a monetary commodity, with the demand being wholly (for fiat money) or largely (for commodity money) of a monetar ...
... and demand that determines the value of the unit of account. Under both fiat money and an ordinary commodity standard, the unit's value is determined by supply of and demand for money or a monetary commodity, with the demand being wholly (for fiat money) or largely (for commodity money) of a monetar ...
A Currency Union Or An Exchange Rate Union
... experienced a dramatic growth in the intra-regional trade since 1980. Table 2 lists the shares of trade with the major trading partners for China, Japan, Korea and Taiwan. The share of China in the trade of other economies has increased tremendously over time. China was ranked as 27th in 1989 among ...
... experienced a dramatic growth in the intra-regional trade since 1980. Table 2 lists the shares of trade with the major trading partners for China, Japan, Korea and Taiwan. The share of China in the trade of other economies has increased tremendously over time. China was ranked as 27th in 1989 among ...
NBER WORKING PAPER SERIES DOMESTIC AND FOREIGN DISTURBANCES IN AN OPTIMIZING
... where f(9) is the firm's production function, assumed to possess the usual neoclassical property of positive, but diminishing, marginal product of labor. The domestic government's budget constraint, expressed in real terms is ...
... where f(9) is the firm's production function, assumed to possess the usual neoclassical property of positive, but diminishing, marginal product of labor. The domestic government's budget constraint, expressed in real terms is ...
DP2010/10 Does the Kiwi fly when the Kangaroo
... interest rates and other asset prices, such as the equity prices and the exchange rate. This “events analysis” literature goes back to the seminal piece by Kuttner (2001). Kuttner (2001) uses the changes in the Federal Funds Futures rate (adjusted for the number of the days left in the month) on the ...
... interest rates and other asset prices, such as the equity prices and the exchange rate. This “events analysis” literature goes back to the seminal piece by Kuttner (2001). Kuttner (2001) uses the changes in the Federal Funds Futures rate (adjusted for the number of the days left in the month) on the ...
NEMO: An Equation for the Canadian Dollar
... First, we need to ascertain the order of integration of the variables to ensure that our estimated equations are balanced.11 To do this, we use the modifications of the augmented Dicky-Fuller (1979) (ADF) and the PhillipsPerron (1988) (PP) tests that have better finite-sample properties. Elliott, Ro ...
... First, we need to ascertain the order of integration of the variables to ensure that our estimated equations are balanced.11 To do this, we use the modifications of the augmented Dicky-Fuller (1979) (ADF) and the PhillipsPerron (1988) (PP) tests that have better finite-sample properties. Elliott, Ro ...
9.1 Internal Balance and External Balance
... 9.1 Internal Balance and External Balance – In Quadrant I, the economy will meet the conflict between internal balance and external balance. » A contractionary expenditure changing policy will reduce output and income, decreasing the inflation and restoring internal balance. But reduced national in ...
... 9.1 Internal Balance and External Balance – In Quadrant I, the economy will meet the conflict between internal balance and external balance. » A contractionary expenditure changing policy will reduce output and income, decreasing the inflation and restoring internal balance. But reduced national in ...
20116822454122
... 9.1 Internal Balance and External Balance – In Quadrant I, the economy will meet the conflict between internal balance and external balance. » A contractionary expenditure changing policy will reduce output and income, decreasing the inflation and restoring internal balance. But reduced national in ...
... 9.1 Internal Balance and External Balance – In Quadrant I, the economy will meet the conflict between internal balance and external balance. » A contractionary expenditure changing policy will reduce output and income, decreasing the inflation and restoring internal balance. But reduced national in ...
A small open economy`s view on interest rate differential`s
... Our main objective is to investigate the uncovered interest rate parity in four currency pairs. This is of interest since the nominal exchange rates as financial instruments are by far the most popular ones, and therefore finding a condition that can help predict the change in the nominal exchange r ...
... Our main objective is to investigate the uncovered interest rate parity in four currency pairs. This is of interest since the nominal exchange rates as financial instruments are by far the most popular ones, and therefore finding a condition that can help predict the change in the nominal exchange r ...
Measures of Economic Performance
... – Where an increase in demand causes firms to raise prices in order to take advantage and increase profits – Causes an increase in AD (aggregate demand) ...
... – Where an increase in demand causes firms to raise prices in order to take advantage and increase profits – Causes an increase in AD (aggregate demand) ...
money and exchange-rate regimes
... sist. However, they do not doubt that the price mechanism is the most efficient means of resource allocation. It is the belief in the ultimately benign nature of the price mechanism, regardless of temporary imperfections and rigidities, that induce the “long-run neutral view” proponents to prescribe ...
... sist. However, they do not doubt that the price mechanism is the most efficient means of resource allocation. It is the belief in the ultimately benign nature of the price mechanism, regardless of temporary imperfections and rigidities, that induce the “long-run neutral view” proponents to prescribe ...
Exchange rate
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In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency. For example, an interbank exchange rate of 119 Japanese yen (JPY, ¥) to the United States dollar (US$) means that ¥119 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥119. In this case it is said that the price of a dollar in terms of yen is ¥119, or equivalently that the price of a yen in terms of dollars is $1/119.Exchange rates are determined in the foreign exchange market, which is open to a wide range of different types of buyers and sellers where currency trading is continuous: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday. The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.In the retail currency exchange market, a different buying rate and selling rate will be quoted by money dealers. Most trades are to or from the local currency. The buying rate is the rate at which money dealers will buy foreign currency, and the selling rate is the rate at which they will sell the currency. The quoted rates will incorporate an allowance for a dealer's margin (or profit) in trading, or else the margin may be recovered in the form of a commission or in some other way. Different rates may also be quoted for cash (usually notes only), a documentary form (such as traveler's cheques) or electronically (such as a credit card purchase). The higher rate on documentary transactions has been justified to compensate for the additional time and cost of clearing the document, while the cash is available for resale immediately. Some dealers on the other hand prefer documentary transactions because of the security concerns with cash.