CHAPTER 2 NATIONAL INCOME ACCOUNTING Chapter Outline
... GDP tend to be unreliable, since much of the data used to prepare them is based on estimates rather than direct measurement. In addition, some data, such as unreported activity, may never enter the GDP figure. Estimates of how much actual economic activity cannot be measured in the official GDP figu ...
... GDP tend to be unreliable, since much of the data used to prepare them is based on estimates rather than direct measurement. In addition, some data, such as unreported activity, may never enter the GDP figure. Estimates of how much actual economic activity cannot be measured in the official GDP figu ...
WHY FOREIGN SAVINGS FAIL TO CAUSE GROWTH Luiz Carlos Bresser-Pereira Paulo Gala
... are capital poor, current account deficits (foreign savings), financed either by loans or by foreign direct investments, will not usually increase the rate of capital accumulation or will have little impact on it in so far as current account deficits will be associated with appreciated exchange rate ...
... are capital poor, current account deficits (foreign savings), financed either by loans or by foreign direct investments, will not usually increase the rate of capital accumulation or will have little impact on it in so far as current account deficits will be associated with appreciated exchange rate ...
Currency Crises, Capital Account Liberalization
... The appropriate pace of deregulation of domestic financial markets also has been of concern, even in many industrial countries. The United States, Japan, and Sweden, among others, all have experienced some domestic financial instability following deregulation of domestic financial institutions. ...
... The appropriate pace of deregulation of domestic financial markets also has been of concern, even in many industrial countries. The United States, Japan, and Sweden, among others, all have experienced some domestic financial instability following deregulation of domestic financial institutions. ...
Extension: GNI and living standards
... To compare living standards, we do not only need to know about the level of income received by residents. What we really want to know is what people can buy with their income. In other words, we want to measure the relative purchasing power of income in different countries. When we translate from lo ...
... To compare living standards, we do not only need to know about the level of income received by residents. What we really want to know is what people can buy with their income. In other words, we want to measure the relative purchasing power of income in different countries. When we translate from lo ...
The Asian Crises Reexamined
... with the popular view that premature liberalization of capital controls was a major cause of the Asian crises. In reviewing the quantitative measures of capital controls used in recent studies, we were surprised to find that most of the studies classified Asian crises countries such as Thailand and ...
... with the popular view that premature liberalization of capital controls was a major cause of the Asian crises. In reviewing the quantitative measures of capital controls used in recent studies, we were surprised to find that most of the studies classified Asian crises countries such as Thailand and ...
The Euro and Stock Markets in Hungary, Poland, and UK
... tests are conducted year by year. During the sample period, Poland and Hungary were in the process of converging towards the economies in the EU, and accession to the EU was achieved in May 2004. The potential structural breaks in the stock and foreign exchange markets may not be trivial. In much of ...
... tests are conducted year by year. During the sample period, Poland and Hungary were in the process of converging towards the economies in the EU, and accession to the EU was achieved in May 2004. The potential structural breaks in the stock and foreign exchange markets may not be trivial. In much of ...
NBER WORKING PAPER SERIES FINANCIAL LIBERALIZATIONS IN LATIN-AMERICA IN THE 1990s:
... characterized by a reversal of declining self-financing ratios around the time of the crisis episode. The financial opening of the 1990s in Argentina is associated with a sizable drop in the self-financing ratio, from about 0.92 to 0.88. This drop ends with the sudden stop, which led to a partial re ...
... characterized by a reversal of declining self-financing ratios around the time of the crisis episode. The financial opening of the 1990s in Argentina is associated with a sizable drop in the self-financing ratio, from about 0.92 to 0.88. This drop ends with the sudden stop, which led to a partial re ...
Consequences of a current account surplus
... and help make exports more attractive. This can improve the current account position, but it may take considerable time to have effect. To attain low inflation, supply side policies can help reduce costs and increase productivity. For example, privatization and deregulation can help reduce costs. Ho ...
... and help make exports more attractive. This can improve the current account position, but it may take considerable time to have effect. To attain low inflation, supply side policies can help reduce costs and increase productivity. For example, privatization and deregulation can help reduce costs. Ho ...
International diversification of investment portfolios
... large as the international stock market in tenos of market capitalization value and is perhaps more integrated than the latter, international diversification of bond portfolios has received much less attention. This seems to mirror the fact that, in general, more empirical work has been done applyi ...
... large as the international stock market in tenos of market capitalization value and is perhaps more integrated than the latter, international diversification of bond portfolios has received much less attention. This seems to mirror the fact that, in general, more empirical work has been done applyi ...
The Validity of the International Fisher Hypothesis in Turkish Economy
... economy, disinflation program and the positive global conjuncture. This study encompasses the data from the Turkish economy between 1975 and 2014, because of availability of the data set. In this context, the validity of International Fisher Hypothesis is tested using Generalized Method of Moments ( ...
... economy, disinflation program and the positive global conjuncture. This study encompasses the data from the Turkish economy between 1975 and 2014, because of availability of the data set. In this context, the validity of International Fisher Hypothesis is tested using Generalized Method of Moments ( ...
Fixing Argentina - Arlindo Correia
... For presentation at ESEADE, Buenos Aires, April 2-3, 2002 This paper available at http://www.cato.org SUMMARY Argentina’s currency crisis and economic depression have been caused by the bad policies of its government—not by banks, foreign investors, the IMF (despite the bad advice it has given), or ...
... For presentation at ESEADE, Buenos Aires, April 2-3, 2002 This paper available at http://www.cato.org SUMMARY Argentina’s currency crisis and economic depression have been caused by the bad policies of its government—not by banks, foreign investors, the IMF (despite the bad advice it has given), or ...
The impact of the price of oil and the US dollar exchange rate on
... also the relationship between coffee prices and the exchange rate between the US dollar and national currencies of the selected exporting countries. This analysis will cover the period from January 1990 to December 2014. This period corresponds to the era of free trade following the abandonment of t ...
... also the relationship between coffee prices and the exchange rate between the US dollar and national currencies of the selected exporting countries. This analysis will cover the period from January 1990 to December 2014. This period corresponds to the era of free trade following the abandonment of t ...
76135150I_en.pdf
... the mid-1982 crisis; during those years, very substantial real appreciation took place. The currency crisis of 1982 was followed by some months of experimentation, with a succession of policies being followed. In 1983 a crawling peg was adopted again, and this policy was maintained with some variati ...
... the mid-1982 crisis; during those years, very substantial real appreciation took place. The currency crisis of 1982 was followed by some months of experimentation, with a succession of policies being followed. In 1983 a crawling peg was adopted again, and this policy was maintained with some variati ...
Volume 68 No. 4, December 2005 Contents
... oil and refined petroleum (relative to total supply) are comparatively high, but not as high as in Japan or some European countries. The GDP data are expressed in US dollars at market exchange rates. If they are adjusted for differences in purchasing power across countries, New Zealand’s relative oil ...
... oil and refined petroleum (relative to total supply) are comparatively high, but not as high as in Japan or some European countries. The GDP data are expressed in US dollars at market exchange rates. If they are adjusted for differences in purchasing power across countries, New Zealand’s relative oil ...
Circular flow of economic activity through a simple market economy
... Increase in price of a complementary good. An increase in the price of a complementary good such as beer increases the cost of a beer and pizza meal, decreasing the demand for pizza. Decrease in population. A decrease in the number of people means that there are fewer pizza consumers, so the market ...
... Increase in price of a complementary good. An increase in the price of a complementary good such as beer increases the cost of a beer and pizza meal, decreasing the demand for pizza. Decrease in population. A decrease in the number of people means that there are fewer pizza consumers, so the market ...
Economic environment
... Suriname is a small, mining-based economy, highly dependent on trade and on a limited basket of goods for export. As a result, Suriname's economy is susceptible to fluctuations in world prices and demand for alumina, its main export. Until recently, poor macroeconomic management, probably exacerbate ...
... Suriname is a small, mining-based economy, highly dependent on trade and on a limited basket of goods for export. As a result, Suriname's economy is susceptible to fluctuations in world prices and demand for alumina, its main export. Until recently, poor macroeconomic management, probably exacerbate ...
Betting the House
... macroeconomics (Obstfeld and Taylor 2004). Broadly speaking, when countries peg to some base currency they effectively import the base economy’s monetary policy, even if it ...
... macroeconomics (Obstfeld and Taylor 2004). Broadly speaking, when countries peg to some base currency they effectively import the base economy’s monetary policy, even if it ...
NBER WORKING PAPER SERIES THE MICRO-MACRO DISCONNECT OF PURCHASING POWER PARITY
... There are distinct advantages of the EIU data that make it appealing for our time-series study. It is the most extensive survey of retail prices conducted by a single organization on a global scale that is ongoing over a long period. Most existing micro-price surveys are too infrequent to be useable ...
... There are distinct advantages of the EIU data that make it appealing for our time-series study. It is the most extensive survey of retail prices conducted by a single organization on a global scale that is ongoing over a long period. Most existing micro-price surveys are too infrequent to be useable ...
Chapter 30
... Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department, Harcourt College Publishers, ...
... Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department, Harcourt College Publishers, ...
Crises in Asia or Crisis of Globalisation? Heribert Dieter November 1998
... Without going into a detailed analysis of the ways these institutional investors work, it seems fair to say that they have not contributed to a greater stability of the world financial system. Rather, they have made financial markets significantly more volatile. The fear of being beaten by other fun ...
... Without going into a detailed analysis of the ways these institutional investors work, it seems fair to say that they have not contributed to a greater stability of the world financial system. Rather, they have made financial markets significantly more volatile. The fear of being beaten by other fun ...
econometric testing of purchasing power parity in less developed
... Sixteen LDCs are examined from different regions of the world (East Asia and Pacific Region; Latin America and Caribbean Region; Sub-Saharan Africa Region; Central Asia Region; and lastly from South Asia Region). As a proxy for the world economy, the US economy variables are taken into account. The ...
... Sixteen LDCs are examined from different regions of the world (East Asia and Pacific Region; Latin America and Caribbean Region; Sub-Saharan Africa Region; Central Asia Region; and lastly from South Asia Region). As a proxy for the world economy, the US economy variables are taken into account. The ...
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... The IMF has traditionally viewed the financial difficulties of economies requiring adjustment as problems originating from high demand, with a relatively stable supply. Only recently has the IMF begun to supplement its demand-management approach with programs that focus on the supply side of the eco ...
... The IMF has traditionally viewed the financial difficulties of economies requiring adjustment as problems originating from high demand, with a relatively stable supply. Only recently has the IMF begun to supplement its demand-management approach with programs that focus on the supply side of the eco ...
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... A. Choice of Variables, Variable Description, and Data Sources Economic theory and previous studies suggest a number of economic influences and particular variables that may influence current values of farmland. The revenue generating aspects of farmland are well recognized as being important factor ...
... A. Choice of Variables, Variable Description, and Data Sources Economic theory and previous studies suggest a number of economic influences and particular variables that may influence current values of farmland. The revenue generating aspects of farmland are well recognized as being important factor ...
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.