A VAR Model of Monetary Policy and
... existing models of business cycle fails to capture this fact. This implies that frictions embodied in these models are not sufficient to take account of the fact of the rise in net funds by the business sector after a contractionary monetary policy shock. Thus these models provide incomplete explana ...
... existing models of business cycle fails to capture this fact. This implies that frictions embodied in these models are not sufficient to take account of the fact of the rise in net funds by the business sector after a contractionary monetary policy shock. Thus these models provide incomplete explana ...
currency boards for developing countries
... Since the final breakup of the Bretton Woods monetary system in 1973, the gap that once existed between the currencies of developed and developing countries has widened into a gulf. During the Bretton Woods system and the "classical," pre-1914 gold standard, and to a lesser extent also between the w ...
... Since the final breakup of the Bretton Woods monetary system in 1973, the gap that once existed between the currencies of developed and developing countries has widened into a gulf. During the Bretton Woods system and the "classical," pre-1914 gold standard, and to a lesser extent also between the w ...
High Inflation: Causes and Consequences
... Argentina made several unsuccessful attempts at stabilization before initiating its April 1991 program, which still endures; Bolivia enjoyed an immediate and lasting end to inflation in mid-1985; and Mexico experienced a gradual and lasting end to inflation, while Brazil has yet to control inflation ...
... Argentina made several unsuccessful attempts at stabilization before initiating its April 1991 program, which still endures; Bolivia enjoyed an immediate and lasting end to inflation in mid-1985; and Mexico experienced a gradual and lasting end to inflation, while Brazil has yet to control inflation ...
interest rate - Universität Bamberg
... • Money in excess of M0 translates into balance of payment deficits and gold outflows • If money is in short supply (left of A = M0), balance of payments is in surplus and gold flows in • Point A may correspond to a point with imbalances in current and capital account, e.g. a point where the current ...
... • Money in excess of M0 translates into balance of payment deficits and gold outflows • If money is in short supply (left of A = M0), balance of payments is in surplus and gold flows in • Point A may correspond to a point with imbalances in current and capital account, e.g. a point where the current ...
Chapters 13 14 15
... the mid-1940s with 8.55 billion percent per month; and Hungary during the same approximate time period at 4.19 quintillion percent per month. Other more moderate examples include Eastern European countries in the period of economic transition in the early 1990s and in Bolivia and Peru in 1985 and 19 ...
... the mid-1940s with 8.55 billion percent per month; and Hungary during the same approximate time period at 4.19 quintillion percent per month. Other more moderate examples include Eastern European countries in the period of economic transition in the early 1990s and in Bolivia and Peru in 1985 and 19 ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
... With respect to the environmental matters at the Company’s Glen Cove, New York site, previously disclosed in Note 14, Contingencies and Commitments to the Company’s consolidated financial statements included in the Company’s 2012 Form 10-K, the New York State Department of Environmental Conservation ...
... With respect to the environmental matters at the Company’s Glen Cove, New York site, previously disclosed in Note 14, Contingencies and Commitments to the Company’s consolidated financial statements included in the Company’s 2012 Form 10-K, the New York State Department of Environmental Conservation ...
70 Working Paper The benefits and costs of monetary union in Southern Africa:
... to the years 2004-2008: 11 (1) single digit inflation rate by 2008; (2) fiscal deficit-to-GDP ratio below 5 per cent by 2008; (3) public debt-to-GDP ratio below 60 per cent (no specific year stipulated); (4) current-account deficit-to-GDP ratio not greater than 9 per cent (no specific year stipulate ...
... to the years 2004-2008: 11 (1) single digit inflation rate by 2008; (2) fiscal deficit-to-GDP ratio below 5 per cent by 2008; (3) public debt-to-GDP ratio below 60 per cent (no specific year stipulated); (4) current-account deficit-to-GDP ratio not greater than 9 per cent (no specific year stipulate ...
Advanced Macroeconomics - Juridica – Kolegji Evropian
... 5.15 Effects of the real business cycle on prices, employment and output 5.16 Labor demand and supply in two periods 5.17 The production function and adjustments in employment and wages 6.1 Inflation and tax revenues 6.2 Tax rates and tax revenues 6.3 Output and price levels with the effect of aggre ...
... 5.15 Effects of the real business cycle on prices, employment and output 5.16 Labor demand and supply in two periods 5.17 The production function and adjustments in employment and wages 6.1 Inflation and tax revenues 6.2 Tax rates and tax revenues 6.3 Output and price levels with the effect of aggre ...
Bank Indonesia Jakarta
... exchange position is converted into IDR by using the spot rate on the day when the risk is calculated. Forward foreign exchange positions cover all positions in forward agreements, which exchange a certain amount of one currency for another at a future date. To calculate the market value of the posi ...
... exchange position is converted into IDR by using the spot rate on the day when the risk is calculated. Forward foreign exchange positions cover all positions in forward agreements, which exchange a certain amount of one currency for another at a future date. To calculate the market value of the posi ...
University of Lethbridge — Department of Economics
... A) the long-run Phillips curve shifts leftward and the short-run Phillips curve does not change. B) the short-run Phillips curve shifts rightward and the long-run Phillips curve does not change. C) the short-run and long-run Phillips curves both shift leftward. D) the short-run and long-run Phillips ...
... A) the long-run Phillips curve shifts leftward and the short-run Phillips curve does not change. B) the short-run Phillips curve shifts rightward and the long-run Phillips curve does not change. C) the short-run and long-run Phillips curves both shift leftward. D) the short-run and long-run Phillips ...
The Effects of Macroeconomic Aggregates on Fertility Decisions
... is undoubtedly important, but its beyond the scope of this paper. To reconcile economic theory of fertility decisions with the above findings (some of them are certainly surprising), I consider a business cycle model in which households derive direct utility from children in addition to leisure and ...
... is undoubtedly important, but its beyond the scope of this paper. To reconcile economic theory of fertility decisions with the above findings (some of them are certainly surprising), I consider a business cycle model in which households derive direct utility from children in addition to leisure and ...
university of maiduguri - Unimaid, Centre for Distance Learning
... According to Keynes full employment means absence of involuntary unemployment. In other wards full employment is a situation in which all willing and capable hands in an economy have a fairly gainful employment. Keynes assumes that “with a given organization, equipment and techniques, real wages and ...
... According to Keynes full employment means absence of involuntary unemployment. In other wards full employment is a situation in which all willing and capable hands in an economy have a fairly gainful employment. Keynes assumes that “with a given organization, equipment and techniques, real wages and ...
(Ir)relevance of the NRU for Policy Making
... frequency movements of unemployment which arise from changes in the permanent components of its determinants. This compartmentalisation implies that the unemployment rate evolves around the NRU from which it only temporarily deviates. In other words, the natural rate serves as an attractor for the ...
... frequency movements of unemployment which arise from changes in the permanent components of its determinants. This compartmentalisation implies that the unemployment rate evolves around the NRU from which it only temporarily deviates. In other words, the natural rate serves as an attractor for the ...
Causality Relationships between the Twin Deficits in the Regional
... co-movement between the budget deficit and the current account deficit in the United States (Abell, 1990; Gordon, 1986; Laney, 1984; McKinnon, 1980, 1990; Miller and Russek, 1989).1 Since the switch of the century in the United States the recurrence of huge fiscal and trade deficits have revived pub ...
... co-movement between the budget deficit and the current account deficit in the United States (Abell, 1990; Gordon, 1986; Laney, 1984; McKinnon, 1980, 1990; Miller and Russek, 1989).1 Since the switch of the century in the United States the recurrence of huge fiscal and trade deficits have revived pub ...
Dreher ge08 6483485 en
... policies longer than they would otherwise do (Bandow 1994).2 In fact, availability of IMF money may deteriorate economic policy even before it has been disbursed. According to the "moralhazard hypothesis," IMF lending may be interpreted as a (subsidized) income insurance against adverse shocks (Vaub ...
... policies longer than they would otherwise do (Bandow 1994).2 In fact, availability of IMF money may deteriorate economic policy even before it has been disbursed. According to the "moralhazard hypothesis," IMF lending may be interpreted as a (subsidized) income insurance against adverse shocks (Vaub ...
Lecture 6 - Universität Bamberg
... Lehrstuhl für Volkswirtschaftslehre, insbesondere Integration Europäischer Arbeitsmärkte Universität Bamberg | [email protected] | www.uni-bamberg.de/sowi/bruecker ...
... Lehrstuhl für Volkswirtschaftslehre, insbesondere Integration Europäischer Arbeitsmärkte Universität Bamberg | [email protected] | www.uni-bamberg.de/sowi/bruecker ...
Is the Crisis Problem Growing More Severe?
... financial system. It will be evident that these two sets of variables correspond to the two leading explanations for the recent Asian crisis, one which attributes its outbreak and severity to external economic policies (unsustainable currency pegs and precipitous capital-account liberalization), the ...
... financial system. It will be evident that these two sets of variables correspond to the two leading explanations for the recent Asian crisis, one which attributes its outbreak and severity to external economic policies (unsustainable currency pegs and precipitous capital-account liberalization), the ...
Quarterly Projection Model for India: Key Elements and Properties
... of businesses and households is not the very short-term rate of interest directly controlled by the central bank. They borrow at longer terms. Policy rate affects these rates more through the impact of the policy rates expected in the future, and hence the whole yield curve. This is reflected in the ...
... of businesses and households is not the very short-term rate of interest directly controlled by the central bank. They borrow at longer terms. Policy rate affects these rates more through the impact of the policy rates expected in the future, and hence the whole yield curve. This is reflected in the ...
The Federal Reserve Engages the World
... higher oil prices on US real economic activity. The easing continued until March 1974. The Committee ...
... higher oil prices on US real economic activity. The easing continued until March 1974. The Committee ...
PROBLEMS FOR CHAPTER 1
... 9. On the accompanying graph, illustrate (A) nominal per capita GDP and (B) real per capita GDP for each year. (The necessary data appear on the endpapers of this book.) (a) By what percentage did nominal per capita GDP increase in the 1990s? (b) By what percentage did real per capita GDP increase i ...
... 9. On the accompanying graph, illustrate (A) nominal per capita GDP and (B) real per capita GDP for each year. (The necessary data appear on the endpapers of this book.) (a) By what percentage did nominal per capita GDP increase in the 1990s? (b) By what percentage did real per capita GDP increase i ...
NBER WORKING PAPER SERIES THE U.S. CURRENT ACCOUNT DEFICIT Charles Engel
... country. A household could, for example, have a home bias in consumption, in which it gives greater weight in preferences to goods produced in its own country. There could be nontraded goods, so that only home-country households consume home-country ...
... country. A household could, for example, have a home bias in consumption, in which it gives greater weight in preferences to goods produced in its own country. There could be nontraded goods, so that only home-country households consume home-country ...
- users.monash.edu.au
... changing sources of tourism price competitiveness to be identified and analysed. They can be decomposed to determine the relative influences on destination competitiveness of exchange rate changes and domestic inflation rates (Dwyer, Forsyth and Rao 2002). It is helpful for both industry and governm ...
... changing sources of tourism price competitiveness to be identified and analysed. They can be decomposed to determine the relative influences on destination competitiveness of exchange rate changes and domestic inflation rates (Dwyer, Forsyth and Rao 2002). It is helpful for both industry and governm ...
Economics 101 Assignment #5 Name
... 2. Both Americans and Japanese believe that American goods are of higher quality than before 3. Both Americans and Japanese believe that the American dollar will depreciate in the near future 4. Laws change in Japan making it easier for Americans to buy or build companies in Japan 5. Interest rates ...
... 2. Both Americans and Japanese believe that American goods are of higher quality than before 3. Both Americans and Japanese believe that the American dollar will depreciate in the near future 4. Laws change in Japan making it easier for Americans to buy or build companies in Japan 5. Interest rates ...
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.