Working NBER WORKING PAPER SERIES
... therefore, is to increase domestic income and the domestic interest rate and to create a balance of payments surplus. ...
... therefore, is to increase domestic income and the domestic interest rate and to create a balance of payments surplus. ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... of trade, rather than any change in the transfer necessitated by interest payments on global debt positions. A few further points merit mention, both by way of introduction to the present analysis and clarification of our earlier (2000a) paper. First, our framework should not be thought of as asking ...
... of trade, rather than any change in the transfer necessitated by interest payments on global debt positions. A few further points merit mention, both by way of introduction to the present analysis and clarification of our earlier (2000a) paper. First, our framework should not be thought of as asking ...
Chapter 7
... unemployment rate that is estimated to prevail in the long-run macroeconomic equilibrium Should not reflect cyclical unemployment When seasonally adjusted, the natural rate should include only frictional and structural unemployment. ...
... unemployment rate that is estimated to prevail in the long-run macroeconomic equilibrium Should not reflect cyclical unemployment When seasonally adjusted, the natural rate should include only frictional and structural unemployment. ...
Impact of the CAP Reforms on the U.S. – EU Cereal Trade Sector
... U.S. exports show substantial increase since the ratio of U.S. exports to total exports to EU was significant in most cases. Price elasticities of demand indicate the degree to which consumers will increase their purchases in response to decline in domestic prices in the EU. ...
... U.S. exports show substantial increase since the ratio of U.S. exports to total exports to EU was significant in most cases. Price elasticities of demand indicate the degree to which consumers will increase their purchases in response to decline in domestic prices in the EU. ...
Chapter 15 PowerPoint Presentation
... Two major accounting challenges arise when companies have international operations: ...
... Two major accounting challenges arise when companies have international operations: ...
A country`s government runs a budget deficit when which of the
... would shift to the left, increasing the price level. e. The aggregate demand curve would shift to the left, increasing the price level. 48. Under a flexible exchange-rate system, the Indian rupee will appreciate against the Japanese yen when a. India’s inflation rate exceeds Japan’s b. India has a t ...
... would shift to the left, increasing the price level. e. The aggregate demand curve would shift to the left, increasing the price level. 48. Under a flexible exchange-rate system, the Indian rupee will appreciate against the Japanese yen when a. India’s inflation rate exceeds Japan’s b. India has a t ...
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... statistical significance of other financial deepening variables after stock market development index was included in regression equation. According to the authors stock market development was more influential than other financial deepening indicators on the growth of the economy. 2. Stock market dev ...
... statistical significance of other financial deepening variables after stock market development index was included in regression equation. According to the authors stock market development was more influential than other financial deepening indicators on the growth of the economy. 2. Stock market dev ...
German Monetary Policy in the Second Half
... out of a grand failure of the free market model (Hetzel 2002). Similarly, very few economists understood the price level as a monetary phenomenon, that is, something under the control of the central bank. Instead, professional and private opinion held that powerful labor unions and large corporation ...
... out of a grand failure of the free market model (Hetzel 2002). Similarly, very few economists understood the price level as a monetary phenomenon, that is, something under the control of the central bank. Instead, professional and private opinion held that powerful labor unions and large corporation ...
Convergence analysis of Russia and Belarus economies in
... However, extrapolation of the main criteria for optimum currency areas to realworld processes of monetary integration for a certain group of countries helps you to find the answers in formation of future monetary system structure for the device specifically for the specifically studied country. 1.1 ...
... However, extrapolation of the main criteria for optimum currency areas to realworld processes of monetary integration for a certain group of countries helps you to find the answers in formation of future monetary system structure for the device specifically for the specifically studied country. 1.1 ...
The Phillips Curve and the Role of Monetary
... exhibit strong persistence due to a nonstationary uncertainty premium, whereas in ation rates are more stable over time due to international competitiveness. This implies that the Fisher eect does not hold as a stationary condition. The uncertainty premium is generally related to the concept of a ...
... exhibit strong persistence due to a nonstationary uncertainty premium, whereas in ation rates are more stable over time due to international competitiveness. This implies that the Fisher eect does not hold as a stationary condition. The uncertainty premium is generally related to the concept of a ...
macronotes - Houston H. Stokes Page
... Goal of the Notes: Allow the student to have an outline of the key ideas and solutions to the problems. Since the notes are distributed in WORD® 97 format, students can edit the notes. I. Fundamentals of Macroeconomics: Chapter 1 The Macroeconomy: Growth and Fluctuations Macroeconomics studies the a ...
... Goal of the Notes: Allow the student to have an outline of the key ideas and solutions to the problems. Since the notes are distributed in WORD® 97 format, students can edit the notes. I. Fundamentals of Macroeconomics: Chapter 1 The Macroeconomy: Growth and Fluctuations Macroeconomics studies the a ...
DETERMINANTS OF SHARE PRICES AT KARACHI STOCK
... affect on share prices. One instinctively feels that the price of the common shares of a company at a point of time will be governed by its past earnings and its future growth prospective. As dividend is a direct measurement tool of the precedent earnings of an organization, price will be determined ...
... affect on share prices. One instinctively feels that the price of the common shares of a company at a point of time will be governed by its past earnings and its future growth prospective. As dividend is a direct measurement tool of the precedent earnings of an organization, price will be determined ...
eee06-Stazka2 3772739 en
... real – and nominal, if prices are sticky – depreciation when the nominal rate is floating entail reserve losses under fixed rates. Faced with reserve losses that, if large enough, could create a balance of payments crisis and a forced devaluation, countries that choose a pegged exchange rate system ...
... real – and nominal, if prices are sticky – depreciation when the nominal rate is floating entail reserve losses under fixed rates. Faced with reserve losses that, if large enough, could create a balance of payments crisis and a forced devaluation, countries that choose a pegged exchange rate system ...
Dynamics of the Trade Balance: The Turkish J-Curve
... several months in advance. But the real depreciation will make the predetermined level of imports to cost more in domestic currency units, thus value of imports rise where the value of exports do not change much, which will worsen the trade balance immediately after the real depreciation. However as ...
... several months in advance. But the real depreciation will make the predetermined level of imports to cost more in domestic currency units, thus value of imports rise where the value of exports do not change much, which will worsen the trade balance immediately after the real depreciation. However as ...
Turnover Rate and Speculative Bubble: Empirical Study
... Secondly, due to lack of short selling mechanism in A share market, it causes rational investors can’t effectively stabilize the stock price. This also leads to speculative bubble in A share market. In addition, the turnover rate of A share market is high. The most significant external manifestation ...
... Secondly, due to lack of short selling mechanism in A share market, it causes rational investors can’t effectively stabilize the stock price. This also leads to speculative bubble in A share market. In addition, the turnover rate of A share market is high. The most significant external manifestation ...
International monetary systems
... liberal international system with the freedom for governments to pursue domestic policies aimed at promoting full employment and social wellbeing.[11] The principal architects of the new system, John Maynard Keynes and Harry Dexter White, created a plan which was endorsed by the 42 countries attendi ...
... liberal international system with the freedom for governments to pursue domestic policies aimed at promoting full employment and social wellbeing.[11] The principal architects of the new system, John Maynard Keynes and Harry Dexter White, created a plan which was endorsed by the 42 countries attendi ...
External Stability, Real Exchange Rate
... adjustment to external imbalances can be most efficiently obtained via RER adjustment, rather than via income/output/expenditure adjustment. Relative price movements cause expenditure switching between domestic and foreign-produced goods, and can occur while the economy is operating at close to full ...
... adjustment to external imbalances can be most efficiently obtained via RER adjustment, rather than via income/output/expenditure adjustment. Relative price movements cause expenditure switching between domestic and foreign-produced goods, and can occur while the economy is operating at close to full ...
PDF
... issues and 21st-century challenges. It will feature a new cross-cutting issues which were not previously included in trade agreement; such as making the regulatory system of TPP countries more compatible, so United States companies can operate more seamlessly in TPP markets and help small and medium ...
... issues and 21st-century challenges. It will feature a new cross-cutting issues which were not previously included in trade agreement; such as making the regulatory system of TPP countries more compatible, so United States companies can operate more seamlessly in TPP markets and help small and medium ...
22-30 Latin American Financial Crises (cont.)
... balance of payment crisis may result along with a debt crisis. – Official international reserves may quickly be depleted because governments and private institutions need to pay for their debts with foreign funds, forcing the central bank to abandon the fixed exchange rate. ...
... balance of payment crisis may result along with a debt crisis. – Official international reserves may quickly be depleted because governments and private institutions need to pay for their debts with foreign funds, forcing the central bank to abandon the fixed exchange rate. ...
Nominal GDP Targeting for Middle-Income Countries
... condition a < b holds, the necessary condition easily follows; nominal GDP targeting dominates. (The results asserted in the last three paragraphs are derived in Frankel, 1995a,b, 2011; and Bhandari and Frankel, 2014). The original Taylor Rule from Taylor (1993), which is still the form in which it ...
... condition a < b holds, the necessary condition easily follows; nominal GDP targeting dominates. (The results asserted in the last three paragraphs are derived in Frankel, 1995a,b, 2011; and Bhandari and Frankel, 2014). The original Taylor Rule from Taylor (1993), which is still the form in which it ...
Sterilisation, Capital Mobility and Interest Rate Determination for
... pressure on the domestic interest rate is driven by three factors. These are considered briefly in turn. The first factor influencing the effect of ∆f on it is sterilisation. (1+λ) = 0 implies that λ = -1 and that there is complete sterilisation of reserve flows as a change in reserves is fully offs ...
... pressure on the domestic interest rate is driven by three factors. These are considered briefly in turn. The first factor influencing the effect of ∆f on it is sterilisation. (1+λ) = 0 implies that λ = -1 and that there is complete sterilisation of reserve flows as a change in reserves is fully offs ...
Short-Term Capital Flows, The Real Economy and Income
... None the less, debate has focussed on the appropriate combination of institutional reform and macroeconomic policy required to reduce this instability, rather than on the economic consequences of the instability itself. This seems unwise, not just because such fluctuations might notionally have no n ...
... None the less, debate has focussed on the appropriate combination of institutional reform and macroeconomic policy required to reduce this instability, rather than on the economic consequences of the instability itself. This seems unwise, not just because such fluctuations might notionally have no n ...
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.