投影片 1
... Y = C + I + G + NX A closed economy: no international trade Y = C + I + G → Y – C – G =I (2) GDP = Y = national income Y= C + G + S → National Saving ：S= Y – C - G → (3) For the economy as a whole, S = I ...
... Y = C + I + G + NX A closed economy: no international trade Y = C + I + G → Y – C – G =I (2) GDP = Y = national income Y= C + G + S → National Saving ：S= Y – C - G → (3) For the economy as a whole, S = I ...
a. Depositors become concerned about the safety of depository
... Assume the economy is initially in equilibrium at point E. If the Fed wrongly believes that the natural rate of unemployment is higher and acts to bring the economy back to its supposed potential, it will decrease the money supply. This will cause the interest rate to rise from r1 to r2, causing the ...
... Assume the economy is initially in equilibrium at point E. If the Fed wrongly believes that the natural rate of unemployment is higher and acts to bring the economy back to its supposed potential, it will decrease the money supply. This will cause the interest rate to rise from r1 to r2, causing the ...
1 Economic Fundamentals on Exchange Rates under Different
... opportunities to study the different behaviors or roles, if any, of managed float and free floating exchange rate regimes. Since the regime change has occurred in relatively recent period, it provides the unique opportunity to empirically verify whether the advantages or disadvantages of different r ...
... opportunities to study the different behaviors or roles, if any, of managed float and free floating exchange rate regimes. Since the regime change has occurred in relatively recent period, it provides the unique opportunity to empirically verify whether the advantages or disadvantages of different r ...
The US dollar: Safe haven
... Reference period: April 1973 – August 2006 No. of observations: 401 ...
... Reference period: April 1973 – August 2006 No. of observations: 401 ...
U.S. MartinJ. Bailey and George S. Tavias TRADE AND INVESTMENT UNDER FLOATING
... however, that this fact establishes that speculation was either irrational or insufficient. Overshooting: The Case of Sticky Prices Overshooting can occur in any portfolio model in which some markets do not adjust instantaneously. For example, Branson (1977), Dornbusch (1976), and Kouri (1976) have ...
... however, that this fact establishes that speculation was either irrational or insufficient. Overshooting: The Case of Sticky Prices Overshooting can occur in any portfolio model in which some markets do not adjust instantaneously. For example, Branson (1977), Dornbusch (1976), and Kouri (1976) have ...
Monetary policy rules in economies with traded and non
... consisting of the data from all four countries; the responses derived using individual country data are remarkably similar (not shown), notwithstanding larger standard errors. The IRFs from the pooled sample indicate that output in the traded sector contracts much more sharply than output in the non ...
... consisting of the data from all four countries; the responses derived using individual country data are remarkably similar (not shown), notwithstanding larger standard errors. The IRFs from the pooled sample indicate that output in the traded sector contracts much more sharply than output in the non ...
PDF
... of microfounclations presents problems at many levels. They ignore the intertemporal budget constraints central to any coherent picture of the current account and fiscal policy. They provide no clear description of how monetary policy affects production decisions. Because it embodies no meaningful w ...
... of microfounclations presents problems at many levels. They ignore the intertemporal budget constraints central to any coherent picture of the current account and fiscal policy. They provide no clear description of how monetary policy affects production decisions. Because it embodies no meaningful w ...
14.02 Quiz 1 Solutions Fall 2004 Multiple
... increases in such a way that output is constant in equilibrium (assume c1<1). These policy changes will produce ...
... increases in such a way that output is constant in equilibrium (assume c1<1). These policy changes will produce ...
NBER WORKING PAPER SERIES ASPECTS OF THE OPTIMAL MANAGEMENT OF EXCHANGE RATES
... for the attainment of its policy goals: a '' policy--the optimal intervention index and an policy--the optimal stock of money at the beginning of each period. The general optimization procedure would then solve simultaneously for the optimal combination of M and y so as to minimize the loss function ...
... for the attainment of its policy goals: a '' policy--the optimal intervention index and an policy--the optimal stock of money at the beginning of each period. The general optimization procedure would then solve simultaneously for the optimal combination of M and y so as to minimize the loss function ...
ECON 105 Macroeconomics Study Questions K. Wainwright Part II
... A) An increase in government spending causes the AE curve to shift upwards, leading to a higher GDP. B) An increase in personal consumption leads to an upward shift in the AE curve and thereby increases real GDP. C) An decrease in imports causes the AE curve to shift upwards, leading to a higher int ...
... A) An increase in government spending causes the AE curve to shift upwards, leading to a higher GDP. B) An increase in personal consumption leads to an upward shift in the AE curve and thereby increases real GDP. C) An decrease in imports causes the AE curve to shift upwards, leading to a higher int ...
Level 3 - Application
... a) The rent of the organisations building b) The rent of the company c) The cost that a business must pay whether a product or service is used or not d) The cost that a business must pay for the goods or services that they have used 3) A Code of Conduct is: a) A written legal document that sets out ...
... a) The rent of the organisations building b) The rent of the company c) The cost that a business must pay whether a product or service is used or not d) The cost that a business must pay for the goods or services that they have used 3) A Code of Conduct is: a) A written legal document that sets out ...
Word format - The Econ Page
... 13. As discussed in class, what is the basic idea behind the Law of Comparative Advantage? a. although individuals have unlimited wants, this Law allows those wants to be satisfied b. focus on what you're good at, cooperate with others, and it’s possible to consume more c. one nation can become more ...
... 13. As discussed in class, what is the basic idea behind the Law of Comparative Advantage? a. although individuals have unlimited wants, this Law allows those wants to be satisfied b. focus on what you're good at, cooperate with others, and it’s possible to consume more c. one nation can become more ...
AP Macroeconomics Unit III Fall 2011
... • Savers (paper assets lose value over time when interest rate is lower than inflation rate) ...
... • Savers (paper assets lose value over time when interest rate is lower than inflation rate) ...
Competitiveness of Swiss companies
... the second part of my remarks. In the short term, the answer is obvious: an appreciation makes Swiss companies less competitive on prices than their foreign rivals (cf. chart 8). It becomes harder for them to sell their products and services at a price that covers the costs involved. The increased p ...
... the second part of my remarks. In the short term, the answer is obvious: an appreciation makes Swiss companies less competitive on prices than their foreign rivals (cf. chart 8). It becomes harder for them to sell their products and services at a price that covers the costs involved. The increased p ...
CON/2016/49 - ECB
... authorised by central banks, as this volatility does not always appear to be related to economic or financial factors. Other concerns are that: (a) unlike the holders of legally established currencies, the holders of virtual currency units typically have no guarantee that they will be able to exchan ...
... authorised by central banks, as this volatility does not always appear to be related to economic or financial factors. Other concerns are that: (a) unlike the holders of legally established currencies, the holders of virtual currency units typically have no guarantee that they will be able to exchan ...
inflation and exchange rate depreciation: a
... output. They also view an increase in the demand for money as a rise in the demand for products and services; which becomes inflationary as prices increase. The theory further emphasizes that the control of inflation requires a necessary and sufficient condition, the control of money supply such tha ...
... output. They also view an increase in the demand for money as a rise in the demand for products and services; which becomes inflationary as prices increase. The theory further emphasizes that the control of inflation requires a necessary and sufficient condition, the control of money supply such tha ...
Midterm 2
... possible. Use the back of the pages if necessary. 1. Write out the growth accounting equation. Describe how the equation was used to try to determine what may have caused the growth slowdown in the United States from 3.7 percent per year in 1948-1973 to 1.55 percent per year from 1973-1982. (A simil ...
... possible. Use the back of the pages if necessary. 1. Write out the growth accounting equation. Describe how the equation was used to try to determine what may have caused the growth slowdown in the United States from 3.7 percent per year in 1948-1973 to 1.55 percent per year from 1973-1982. (A simil ...
mmi13 Benassy-Quere new 19076037 en
... the literature.4 Asea and Corden (1994), Asea and Mendoza (1994) and Turnovsky and Sen (1995) study the BS effect within a model with two production factors: labour and capital. Asea and Corden (1994) and Asea and Mendoza (1994) examine the implications of incorporating a demand side in the BS frame ...
... the literature.4 Asea and Corden (1994), Asea and Mendoza (1994) and Turnovsky and Sen (1995) study the BS effect within a model with two production factors: labour and capital. Asea and Corden (1994) and Asea and Mendoza (1994) examine the implications of incorporating a demand side in the BS frame ...
Fix What Broke: Building an Orderly and Ethical International Monetary System Judy Shelton
... work out arrangements for a new international monetary and financial order. Less than four weeks earlier, on June 6, 1944 (termed “D-Day”), more than 160,000 Allied troops had landed on the beaches of Normandy to battle against heavily entrenched Nazi forces. The outcome of the war was far from bein ...
... work out arrangements for a new international monetary and financial order. Less than four weeks earlier, on June 6, 1944 (termed “D-Day”), more than 160,000 Allied troops had landed on the beaches of Normandy to battle against heavily entrenched Nazi forces. The outcome of the war was far from bein ...
The advantages of a small European Monetary Union
... From this it can be deduced that the inflation rates that are typical for each country, even over long periods oftime, are the result of national preferences rather than mistaken economic policies. Consequently, all speculation about future changes in behaviour must be regarded as highly uncertain, ...
... From this it can be deduced that the inflation rates that are typical for each country, even over long periods oftime, are the result of national preferences rather than mistaken economic policies. Consequently, all speculation about future changes in behaviour must be regarded as highly uncertain, ...
Earlier versions of
... The paper provides a theoretical framework for analysing policy formation among independent authorities operating in an interdependent environment. This is then applied to the analysis of optimal monetary policy in a stochastic two—country model with rational expectations. The main conclusions are 1 ...
... The paper provides a theoretical framework for analysing policy formation among independent authorities operating in an interdependent environment. This is then applied to the analysis of optimal monetary policy in a stochastic two—country model with rational expectations. The main conclusions are 1 ...
The euro-dollar exchange rate and Dutch imports and exports
... In the literature the following variables, which might influence the volume of imports and exports, often appear: GDP, import prices and export prices, domestic prices, world market prices and the exchange rate. The last variable can be put in the model as a nominal rate, or as real rate (nominal ra ...
... In the literature the following variables, which might influence the volume of imports and exports, often appear: GDP, import prices and export prices, domestic prices, world market prices and the exchange rate. The last variable can be put in the model as a nominal rate, or as real rate (nominal ra ...
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.