Document
... Measuring the rate of inflation Index The cost of today’s market basket of goods expressed as a percentage of the cost of the same market basket during a base year Market Basket Representative bundle of goods and services Base Year The point of reference for comparison of prices in other years ...
... Measuring the rate of inflation Index The cost of today’s market basket of goods expressed as a percentage of the cost of the same market basket during a base year Market Basket Representative bundle of goods and services Base Year The point of reference for comparison of prices in other years ...
GreekDebt
... • Total Measures meant to save about 6.7 Billion • A series of riots and strikes have occurred over last 3o days as laws introduced. • News on 3/2/10 indicates the the Eurosystem Central Bank expects more austerity measures. Sources (in order) : http://www.nytimes.com/2010/02/25/world/europe/25gree ...
... • Total Measures meant to save about 6.7 Billion • A series of riots and strikes have occurred over last 3o days as laws introduced. • News on 3/2/10 indicates the the Eurosystem Central Bank expects more austerity measures. Sources (in order) : http://www.nytimes.com/2010/02/25/world/europe/25gree ...
Modelling the Impact of Changes in the Interest Rates on the
... power in predicting the magnitude and direction of swings in the business cycle is inferior and restricted to the use of short-term interest rates on their own. Whereas the econometric model tries to capture all possible linkages on the demand-side, yield curve analysis is useful in assessing the im ...
... power in predicting the magnitude and direction of swings in the business cycle is inferior and restricted to the use of short-term interest rates on their own. Whereas the econometric model tries to capture all possible linkages on the demand-side, yield curve analysis is useful in assessing the im ...
The Effect of Capital Controls on Interest Rate Differentials
... on interest differentials explicitly considering that investors’ entry and exit decisions —and hence their investment horizon— are contingent on the state of the economy and part of a dynamic optimization process that takes into account entry and exit costs as well as the stochastic process followe ...
... on interest differentials explicitly considering that investors’ entry and exit decisions —and hence their investment horizon— are contingent on the state of the economy and part of a dynamic optimization process that takes into account entry and exit costs as well as the stochastic process followe ...
Economics and Political Economy
... decreases from 10.5% to 8.01%. Both of these changes in the measurements of fit indicate that the combination of these four explanatory variables in the previous year explain slightly less than a third of the variation in the growth rate of the current period nominal GDP. Additionally, the coefficie ...
... decreases from 10.5% to 8.01%. Both of these changes in the measurements of fit indicate that the combination of these four explanatory variables in the previous year explain slightly less than a third of the variation in the growth rate of the current period nominal GDP. Additionally, the coefficie ...
Mathematical Analysis of the Transmission Mechanism of Monetary
... channels how the monetary policy decisions are transmitted to the real economy. The mechanism of the transmission of the monetary decisions through these channels to the real economy is called the monetary policy transmission mechanism. There have to be fulfilled several conditions in order for the ...
... channels how the monetary policy decisions are transmitted to the real economy. The mechanism of the transmission of the monetary decisions through these channels to the real economy is called the monetary policy transmission mechanism. There have to be fulfilled several conditions in order for the ...
Unconventional Central Bank Measures for Emerging
... The database shows that most of emerging economy central banks took liquidity easing measures but the use of credit and quantitative easing measures has been rare (Box 1). All but a handful of the emerging economies implemented domestic liquidity easing measures, and most injected foreign exchange l ...
... The database shows that most of emerging economy central banks took liquidity easing measures but the use of credit and quantitative easing measures has been rare (Box 1). All but a handful of the emerging economies implemented domestic liquidity easing measures, and most injected foreign exchange l ...
Unemployment in East and West Europe - Deep Blue
... unemployment, inflow, outflow and vacancies in the six economies. In the left panel of the table we give the real GDP growth, as well as unemployment, inflow and vacancies expressed as a share of the labor force in each country. In the right panel we provide the inflow rate, outflow rate and U/V rat ...
... unemployment, inflow, outflow and vacancies in the six economies. In the left panel of the table we give the real GDP growth, as well as unemployment, inflow and vacancies expressed as a share of the labor force in each country. In the right panel we provide the inflow rate, outflow rate and U/V rat ...
DP2007/09 Local linear impulse responses for a small open economy
... and the exchange rate provide a minimal domain whose behaviour needs to be modelled for New Zealand monetary policy purposes. We thus include in our model: real gross domestic product (GDP); the consumers price index (CPI) excluding goods and services tax effects and interest charges; the 90 day ban ...
... and the exchange rate provide a minimal domain whose behaviour needs to be modelled for New Zealand monetary policy purposes. We thus include in our model: real gross domestic product (GDP); the consumers price index (CPI) excluding goods and services tax effects and interest charges; the 90 day ban ...
Lecture
... Aid works if measured correctly Distinction between fast impact aid (infrastructure projects) and slow impact aid ...
... Aid works if measured correctly Distinction between fast impact aid (infrastructure projects) and slow impact aid ...
NBER WORKING PAPER SERIES Jean Boivin Marc P. Giannoni
... countries. In particular, we …nd larger responses of long-term interest rates in Italy and in Spain, which contribute to larger contractions of consumption in these two countries. Also, restrictive monetary policy in the EA tended to trigger a depreciation of the lira and the peseta, and a smaller ...
... countries. In particular, we …nd larger responses of long-term interest rates in Italy and in Spain, which contribute to larger contractions of consumption in these two countries. Also, restrictive monetary policy in the EA tended to trigger a depreciation of the lira and the peseta, and a smaller ...
Estimating New Zealand’s neutral interest rate AN2015/05 September 2015
... These estimates suggest the nominal neutral 90-day interest rate sits between 3.8 and 4.9 percent currently. The mean of these indicators is 4.3 percent. The Bank currently judges that the nominal neutral 90-day interest rate sits at 4.5 percent - within the range of estimates and close to the mean ...
... These estimates suggest the nominal neutral 90-day interest rate sits between 3.8 and 4.9 percent currently. The mean of these indicators is 4.3 percent. The Bank currently judges that the nominal neutral 90-day interest rate sits at 4.5 percent - within the range of estimates and close to the mean ...
Review - CEPAL
... tic product; in Germany it was more than double the fall in the product, and in Great Britain it was likewise double the reduction in economic activity, though it was thus considerably less pronounced than in the other developed countries.6 As a result, the decline in money demand in the industriali ...
... tic product; in Germany it was more than double the fall in the product, and in Great Britain it was likewise double the reduction in economic activity, though it was thus considerably less pronounced than in the other developed countries.6 As a result, the decline in money demand in the industriali ...
The Fisher Relation in the Great Depression and the Great Recession
... so-called Keynesian revolution in the General Theory (1936), albeit advancing arguments that were not quite so far removed from Fisher’s own views on these matters as summarized in (1930), as he was inclined to claim.6 True, Keynes denied any direct effect at all of expected inflation on nominal int ...
... so-called Keynesian revolution in the General Theory (1936), albeit advancing arguments that were not quite so far removed from Fisher’s own views on these matters as summarized in (1930), as he was inclined to claim.6 True, Keynes denied any direct effect at all of expected inflation on nominal int ...
policy brief - Peterson Institute for International Economics
... (REER) of the dollar in October was 17 percent above its level in mid-2014. Given the two-year lag from the exchange rate signal to the trade outcome, the US current account deficit is on track to widen from 2.7 percent of GDP this year to nearly 4 percent by 2021. Yet market expectations of fiscal ...
... (REER) of the dollar in October was 17 percent above its level in mid-2014. Given the two-year lag from the exchange rate signal to the trade outcome, the US current account deficit is on track to widen from 2.7 percent of GDP this year to nearly 4 percent by 2021. Yet market expectations of fiscal ...
Reforming the International Monetary System A Stock
... pay an interest to the ICU on their Bancor balances. The system would encourage countries with a trade surplus to transfer liquidity to countries with a trade deficit, say through direct investment. In the current state of the model we don’t allow for capital mobility, other than FDI. Reforming the ...
... pay an interest to the ICU on their Bancor balances. The system would encourage countries with a trade surplus to transfer liquidity to countries with a trade deficit, say through direct investment. In the current state of the model we don’t allow for capital mobility, other than FDI. Reforming the ...
by Samuel GUERINEAU* and Sylviane GUILLAUMONT
... Deflation may reflect a great variety of factors. Declining prices are likely to go with falling demand. But when the decline is associated with an increase in output, it is likely that some supply shocks are leading to deflation. In the case of China, many factors have been suggested by the litera ...
... Deflation may reflect a great variety of factors. Declining prices are likely to go with falling demand. But when the decline is associated with an increase in output, it is likely that some supply shocks are leading to deflation. In the case of China, many factors have been suggested by the litera ...
NBER WORKING PAPER SERIES INFLUENCE OF FOREIGN DISTURBANCES?
... be robust across alternative priors and detrending methods. As comovement readily obtains when the model is calibrated with plausible parameter values, our …ndings indicate that the inability to reproduce international correlations in output — known as the quantity anomaly in Baxter and Crucini (199 ...
... be robust across alternative priors and detrending methods. As comovement readily obtains when the model is calibrated with plausible parameter values, our …ndings indicate that the inability to reproduce international correlations in output — known as the quantity anomaly in Baxter and Crucini (199 ...
The Macroeconomy: Unemployment, Inflation, and Deflation
... 15. When unanticipated deflation occurs, debtors are economically (worse, better) off. 16. The personal consumption expenditure index is a price index based on annual surveys of consumer _____________________. 17. The CPI and the PPI measure the cost of (an unchanging, a changing) basket of goods th ...
... 15. When unanticipated deflation occurs, debtors are economically (worse, better) off. 16. The personal consumption expenditure index is a price index based on annual surveys of consumer _____________________. 17. The CPI and the PPI measure the cost of (an unchanging, a changing) basket of goods th ...
11
Financial
Contagion:
The
Impact
of
Global
Disasters
Jory
Fong
... Definition 5: (Shift-) contagion occurs when the transmission channel intensifies or, more generally, changes after a shock in one market. The international transmission mechanism may strengthen in response to a crisis in one country. For instance, some channels of transmission might be active only ...
... Definition 5: (Shift-) contagion occurs when the transmission channel intensifies or, more generally, changes after a shock in one market. The international transmission mechanism may strengthen in response to a crisis in one country. For instance, some channels of transmission might be active only ...
Grad7
... form of money. Since r represents the opportunity cost of holding money, it also makes sense that Lr decreases as r increases. At low interest rates, a one percent increase in the interest rate would represent a large percentage increase in the cost of holding money. Thus, a small increase in the in ...
... form of money. Since r represents the opportunity cost of holding money, it also makes sense that Lr decreases as r increases. At low interest rates, a one percent increase in the interest rate would represent a large percentage increase in the cost of holding money. Thus, a small increase in the in ...
Exercise 6 (+additional question) in Mankiw
... cost of living increased for Abby? Compare this answer to your answers to parts (a) and (d). What does this example tell you about Laspeyres and Paasche price indices? Problem 2.8: Consider how each of the following events is likely to affect real GDP. Do you think the change in real GDP reflects a ...
... cost of living increased for Abby? Compare this answer to your answers to parts (a) and (d). What does this example tell you about Laspeyres and Paasche price indices? Problem 2.8: Consider how each of the following events is likely to affect real GDP. Do you think the change in real GDP reflects a ...
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.