Trade, exchange rates and income distribution
... forces, or may be attributed to high costs of entry and control of world markets by international companies that are the main vehicle for world trade, extending their reach through mergers and acquisitions. In modern oligopolistic markets the instruments of market control are branding and, increasin ...
... forces, or may be attributed to high costs of entry and control of world markets by international companies that are the main vehicle for world trade, extending their reach through mergers and acquisitions. In modern oligopolistic markets the instruments of market control are branding and, increasin ...
PDF
... Under the fixed-rate regime the Bank would have been forced to defend the currency, with a domestic recession as the likely result. The net effect of the Bank’s response was to cushion the impact on the domestic economy and to absorb the shock on the exchange rate. Crucially, interest rates were not ...
... Under the fixed-rate regime the Bank would have been forced to defend the currency, with a domestic recession as the likely result. The net effect of the Bank’s response was to cushion the impact on the domestic economy and to absorb the shock on the exchange rate. Crucially, interest rates were not ...
3. External and Internal Balance
... and 3.1.8 ) – in spring 1999 the koruna attacked the level of 38.0 CZK/EUR (average monthly exchange rate in April was 37.997) and closed under the psychological limit of 29.0 CZK/EUR in the end of 2005 (December average 28.975). Moreover, since early 2006 we can observe further strong appreciation, ...
... and 3.1.8 ) – in spring 1999 the koruna attacked the level of 38.0 CZK/EUR (average monthly exchange rate in April was 37.997) and closed under the psychological limit of 29.0 CZK/EUR in the end of 2005 (December average 28.975). Moreover, since early 2006 we can observe further strong appreciation, ...
PIIE Briefing 16-5: China`s New Economic Frontier: Overcoming
... China’s economy is at a pivotal moment, as it faces both imminent and long-term challenges that may significantly hamper the robust growth it has enjoyed in recent decades. Income inequality, increased debt, an aging population, shrinking labor force, and a slow transition from manufacturing to serv ...
... China’s economy is at a pivotal moment, as it faces both imminent and long-term challenges that may significantly hamper the robust growth it has enjoyed in recent decades. Income inequality, increased debt, an aging population, shrinking labor force, and a slow transition from manufacturing to serv ...
Financial Performance
... 1. Detailed intervention data often are kept secret; and 2. The risk-premium and signaling hypotheses rest on effects that one might expect to vary across time and across countries. ...
... 1. Detailed intervention data often are kept secret; and 2. The risk-premium and signaling hypotheses rest on effects that one might expect to vary across time and across countries. ...
Thinking Like an Economist
... resources that could otherwise have been used to produce goods and services. Individuals reduce money holdings, which is inconvenient and misallocates the individual’s personal resources of time, energy, and leisure. In the case of hyperinflation, inflation over 100%, the currency system breaks ...
... resources that could otherwise have been used to produce goods and services. Individuals reduce money holdings, which is inconvenient and misallocates the individual’s personal resources of time, energy, and leisure. In the case of hyperinflation, inflation over 100%, the currency system breaks ...
Inflation and the Consumer Price Index Review for AP
... my salary can be adjusted by at least 3 percent so that my purchasing power does not fall. This cost of living adjustment doesn't hurt my employer so long as the prices of the firm's output and any other inputs also increase by 3 percent. Many unions and government employees have cost of living rais ...
... my salary can be adjusted by at least 3 percent so that my purchasing power does not fall. This cost of living adjustment doesn't hurt my employer so long as the prices of the firm's output and any other inputs also increase by 3 percent. Many unions and government employees have cost of living rais ...
Empirical Research on RMB Equilibrium Exchange Rate
... China’s dual exchange rate system allowed a market rate in the swap centers and an official rate to exist simultaneously. On January 1st 1994, the dual exchange rate system was abolished, and the official rate (5.8 RMB/USD) was devaluate about 50% and unified with the market rate (8.7 RMB/USD). From ...
... China’s dual exchange rate system allowed a market rate in the swap centers and an official rate to exist simultaneously. On January 1st 1994, the dual exchange rate system was abolished, and the official rate (5.8 RMB/USD) was devaluate about 50% and unified with the market rate (8.7 RMB/USD). From ...
Black Money, Corruption and Demonetisation Martin Patrick Chief
... In 2011, Corruption3 Perception Index ranked India 94 among 176 countries with a score of 36. India’s rank has now improved to 76. It is not at a satisfactory achievement, as it is evident that cross-border flow of money derived from criminal or corrupt activities is around $1.5 trillion annually. N ...
... In 2011, Corruption3 Perception Index ranked India 94 among 176 countries with a score of 36. India’s rank has now improved to 76. It is not at a satisfactory achievement, as it is evident that cross-border flow of money derived from criminal or corrupt activities is around $1.5 trillion annually. N ...
Is Numérairology the Future of Monetary Economics?
... the bakers’ guild would have a non-trivial monetary stabilisation policy role. The welfare significance of the numéraire when there are nominal wage or price rigidities survives even in a cashless economy, interpreted here as in Woodford (2003) as the limit of an economy in which central bank curren ...
... the bakers’ guild would have a non-trivial monetary stabilisation policy role. The welfare significance of the numéraire when there are nominal wage or price rigidities survives even in a cashless economy, interpreted here as in Woodford (2003) as the limit of an economy in which central bank curren ...
Chapter 27, 28, & 29
... Based on its revenue/worker(mrp) vs. its costs(mrc) firms determine how many workers to hire (mrp=mrc). Based on their Marginal Benefit vs. Marginal Cost workers determine whether or not they will work for this wage (msc=msb). ...
... Based on its revenue/worker(mrp) vs. its costs(mrc) firms determine how many workers to hire (mrp=mrc). Based on their Marginal Benefit vs. Marginal Cost workers determine whether or not they will work for this wage (msc=msb). ...
Macroeconomics, Spring 2009, Exam 3, several versions
... Fed begins buying government securities more slowly than before, permanently reducing the rate of excessive money growth from 5% per year down to 2% per year. Evaluate the following statements, and then choose the best answer. 1) Even if it was not discussed in lecture, there is no reason to believe ...
... Fed begins buying government securities more slowly than before, permanently reducing the rate of excessive money growth from 5% per year down to 2% per year. Evaluate the following statements, and then choose the best answer. 1) Even if it was not discussed in lecture, there is no reason to believe ...
Chapter 4 -- The IS/LM Model
... Considering Additional Behavior (Curve #2) Extra behavior -- decisions to hold money and financial assets. The Demand for Money -- The decision of how much of total wealth should be held as money (I.e. currency and checkable deposits). ...
... Considering Additional Behavior (Curve #2) Extra behavior -- decisions to hold money and financial assets. The Demand for Money -- The decision of how much of total wealth should be held as money (I.e. currency and checkable deposits). ...
Does the Kiwi fly when the Kangaroo jumps?
... while the other way around is not the case. Ehrmann et al. [2005] find similar cross country/region spill-overs between the US and the euro area. In addition to Kearns and Manners [2006], the response of the New Zealand dollar has also been investigated by Karagedikli and Siklos [2008] (2008), and C ...
... while the other way around is not the case. Ehrmann et al. [2005] find similar cross country/region spill-overs between the US and the euro area. In addition to Kearns and Manners [2006], the response of the New Zealand dollar has also been investigated by Karagedikli and Siklos [2008] (2008), and C ...
Money and Contracts
... IN THE UNITED STATES In this section I document the relationship between the rate of interest on prime business loans and the rate of interest on treasury bills in the post-war United States. The evidence that I present is important to my theoretical arguments because I shall suggest that monetary p ...
... IN THE UNITED STATES In this section I document the relationship between the rate of interest on prime business loans and the rate of interest on treasury bills in the post-war United States. The evidence that I present is important to my theoretical arguments because I shall suggest that monetary p ...
Monetary and Financial Policies in Emerging Markets
... reversals. Brazil, Indonesia, India, South Africa and Turkey –dubbed the Fragile Five were at the center of an emerging markets turmoil. These sharp retrenchments of capital ‡ows, known as sudden stops, posed a di¤erent policy trade-o¤s for these economies. They create pressure for countries to dep ...
... reversals. Brazil, Indonesia, India, South Africa and Turkey –dubbed the Fragile Five were at the center of an emerging markets turmoil. These sharp retrenchments of capital ‡ows, known as sudden stops, posed a di¤erent policy trade-o¤s for these economies. They create pressure for countries to dep ...
Monetary and Financial Policies in Emerging Markets
... reversals. Brazil, Indonesia, India, South Africa and Turkey –dubbed the Fragile Five were at the center of an emerging markets turmoil. These sharp retrenchments of capital ‡ows, known as sudden stops, posed a di¤erent policy trade-o¤s for these economies. They create pressure for countries to dep ...
... reversals. Brazil, Indonesia, India, South Africa and Turkey –dubbed the Fragile Five were at the center of an emerging markets turmoil. These sharp retrenchments of capital ‡ows, known as sudden stops, posed a di¤erent policy trade-o¤s for these economies. They create pressure for countries to dep ...
Chap11_12q_for print..
... C) expansionary shift in the LM curve. D) contractionary shift in the LM curve. 7. An increase in the money supply shifts the ______ curve to the right, and the aggregate demand curve ______ ______. A) IS; shifts to the right B) IS; does not shift C) LM: shifts to the right D) LM; does not ...
... C) expansionary shift in the LM curve. D) contractionary shift in the LM curve. 7. An increase in the money supply shifts the ______ curve to the right, and the aggregate demand curve ______ ______. A) IS; shifts to the right B) IS; does not shift C) LM: shifts to the right D) LM; does not ...
A MONETARY CONDITIONS INDEX FOR ALBANIA
... Patra and Pattanaik (1998) calculated for India a reduced form of money demand equation including the exchange rate impact. The weights of the exchange rate and of the interest rate were calculated from the coefficients derived from this equation. Hataiseree (1998) tried to evaluate the MCI for Thai ...
... Patra and Pattanaik (1998) calculated for India a reduced form of money demand equation including the exchange rate impact. The weights of the exchange rate and of the interest rate were calculated from the coefficients derived from this equation. Hataiseree (1998) tried to evaluate the MCI for Thai ...
An Analysis of Exchange Rate Volatility and
... associated exponential growth of cross-border financial transactions during the last three decades, important volatility and uncertainty has been seen in exchange rates (Arize, 1998). Academicians, policy makers, researchers and economists have always raised eyebrows with regards to the potential im ...
... associated exponential growth of cross-border financial transactions during the last three decades, important volatility and uncertainty has been seen in exchange rates (Arize, 1998). Academicians, policy makers, researchers and economists have always raised eyebrows with regards to the potential im ...
FRBSF E L CONOMIC ETTER
... of shaping private-sector expectations about the future path of short-term interest rates, which affect long-term interest rates and other asset prices, in order to achieve various macroeconomic objectives (McGough, Rudebusch, and Williams 2005). In the current situation, the FOMC (2009) has noted t ...
... of shaping private-sector expectations about the future path of short-term interest rates, which affect long-term interest rates and other asset prices, in order to achieve various macroeconomic objectives (McGough, Rudebusch, and Williams 2005). In the current situation, the FOMC (2009) has noted t ...
CHAPTER 23: The Art of Central Banking: Targets, Instruments and
... monetary policy are called operating instruments. They include variables such as the monetary base, government deposits, open market operations, and the overnight lending rate. Intermediate targets are a set of economic variables, such as various measures of monetary aggregates (M1, M2, and M2+) and ...
... monetary policy are called operating instruments. They include variables such as the monetary base, government deposits, open market operations, and the overnight lending rate. Intermediate targets are a set of economic variables, such as various measures of monetary aggregates (M1, M2, and M2+) and ...
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.