Macroeconomic Shocks, Housing Market and Banks` Performance
... There are already a couple of empirical works for the Venezuelan case that are directly related to this paper. For the housing market, Carvallo, Chirinos and Pagliacci (2012) claim that, due to changes in external conditions, a larger supply of loans to households has implied a greater banks’ expos ...
... There are already a couple of empirical works for the Venezuelan case that are directly related to this paper. For the housing market, Carvallo, Chirinos and Pagliacci (2012) claim that, due to changes in external conditions, a larger supply of loans to households has implied a greater banks’ expos ...
Central Bank Intervention and Exchange Rate Volatility in Zambia
... exchange rate imposes on the economy. A volatile exchange rate causes undesirable changes in aggregate and sectoral output, the price level, volume of international trade and foreign investment (Chipili, 2010). Many empirical tests regarding central bank intervention have been conducted on the deuts ...
... exchange rate imposes on the economy. A volatile exchange rate causes undesirable changes in aggregate and sectoral output, the price level, volume of international trade and foreign investment (Chipili, 2010). Many empirical tests regarding central bank intervention have been conducted on the deuts ...
Real Exchange Rates and Current Account
... The households own all factors of production, capital, skilled labor, and unskilled labor, and rent the factors to firm in a competitive market. To simplify the analysis, we consider a fixed labor supply, = ̄ for unskilled labor and = ̄ for skilled labor, in the text. The households have acces ...
... The households own all factors of production, capital, skilled labor, and unskilled labor, and rent the factors to firm in a competitive market. To simplify the analysis, we consider a fixed labor supply, = ̄ for unskilled labor and = ̄ for skilled labor, in the text. The households have acces ...
3 - Munich Personal RePEc Archive
... In particular, we specify a non-monetary DGE model driven by shocks to investment-specific technology (IST) and with a localized distribution services sector to show that a stylized model without nominal rigidities can match the stylized facts of the real exchange rate. The inclusion of a distributi ...
... In particular, we specify a non-monetary DGE model driven by shocks to investment-specific technology (IST) and with a localized distribution services sector to show that a stylized model without nominal rigidities can match the stylized facts of the real exchange rate. The inclusion of a distributi ...
Impacts of Government Debt, the Exchange Rate and Other
... gdp would increase real gdp by 0.2784 during 2000.q4–2008.q4 and reduce real gdp by 0.1814 during 2009.q1–2015.q4. A 1 real appreciation of the kuna would cause real gdp to rise by 0.2629. If German real gdp rises 1, Croatia’s real gdp would increase by 0.3883. The negative relationship of gov ...
... gdp would increase real gdp by 0.2784 during 2000.q4–2008.q4 and reduce real gdp by 0.1814 during 2009.q1–2015.q4. A 1 real appreciation of the kuna would cause real gdp to rise by 0.2629. If German real gdp rises 1, Croatia’s real gdp would increase by 0.3883. The negative relationship of gov ...
Cross-Country Causes and Consequences of the 2008 Crisis: Early
... • Real estate – Percentage Change in Real Estate Prices • Based on data from the BIS and augmented by an Asiaspecific study by Glindro, et al (2008). ...
... • Real estate – Percentage Change in Real Estate Prices • Based on data from the BIS and augmented by an Asiaspecific study by Glindro, et al (2008). ...
Exchange rate valuation and its impact on the real economy
... The relationship between exchange rate movements and the real economy has been a key focus of macroeconomic policy discussions in New Zealand in recent years. There has been considerable debate about the causes of the appreciation of the real exchange rate and the extent to which it reflects either ...
... The relationship between exchange rate movements and the real economy has been a key focus of macroeconomic policy discussions in New Zealand in recent years. There has been considerable debate about the causes of the appreciation of the real exchange rate and the extent to which it reflects either ...
Measuring Market Exposure - NYU Stern School of Business
... Booked vs. anticipated transactions Expected vs. unexpected changes; the "cost of hedging" Exposure and the parity assumptions: "We are not exposed in the long run" Currency of denomination vs currency of determination; compet., elasticities, etc. Copyright ©1999 Ian H. Giddy ...
... Booked vs. anticipated transactions Expected vs. unexpected changes; the "cost of hedging" Exposure and the parity assumptions: "We are not exposed in the long run" Currency of denomination vs currency of determination; compet., elasticities, etc. Copyright ©1999 Ian H. Giddy ...
A 200 - University High School
... In the circular flow diagram, which of the following is true? (No diagram provided on AP test for this question) a. Businesses pay wages, rent, interest, and profits to households in return for use of factors of production. b. Businesses purchase goods and services from households in return for mone ...
... In the circular flow diagram, which of the following is true? (No diagram provided on AP test for this question) a. Businesses pay wages, rent, interest, and profits to households in return for use of factors of production. b. Businesses purchase goods and services from households in return for mone ...
May 2004 U.S. Antidumping Enforcement and Macroeconomic
... first set of results below support this), the effect should go in the opposite direction on the probability of success for those industries which do file a case. An industry with negative indicators in a time of overall US expansion is better-placed to blame a significant part of its woes on unfairl ...
... first set of results below support this), the effect should go in the opposite direction on the probability of success for those industries which do file a case. An industry with negative indicators in a time of overall US expansion is better-placed to blame a significant part of its woes on unfairl ...
PDF
... particular their effects on saving, consumption and investment flowing through to future income, become very important third round effects on the exchange rate. ...
... particular their effects on saving, consumption and investment flowing through to future income, become very important third round effects on the exchange rate. ...
Federal Reserve Bank of New York Staff Reports
... frequently - on average once every 20-21 months. The volatility of the real exchange rate is also much higher in the heterogeneous economy (by a factor that ranges from 2:5 to more than 5, depending on the speci…cation of the model). These results obtain in the absence of strategic complementaritie ...
... frequently - on average once every 20-21 months. The volatility of the real exchange rate is also much higher in the heterogeneous economy (by a factor that ranges from 2:5 to more than 5, depending on the speci…cation of the model). These results obtain in the absence of strategic complementaritie ...
application of the mundell-fleming model on a small open economy
... demand curve will cause an increase in the GDP with an adjustment to the price level. That is the money can influence real variables, but there will be some increase in prices as well. The Hick’s assumption of liquidity trap is strongly rejected. Furthemore all liquidity constraints are eliminated, ...
... demand curve will cause an increase in the GDP with an adjustment to the price level. That is the money can influence real variables, but there will be some increase in prices as well. The Hick’s assumption of liquidity trap is strongly rejected. Furthemore all liquidity constraints are eliminated, ...
Working Paper - Hans-Böckler
... Dutt (2003, 2006) on the other hand, focuses on the short- and long run effects of such a development,1 , the (un-)sustainability of “conspicuous” consumption was not explicitly addressed in both approaches. In contrast, the innovation of this paper is the explicit analysis of credit rationing to w ...
... Dutt (2003, 2006) on the other hand, focuses on the short- and long run effects of such a development,1 , the (un-)sustainability of “conspicuous” consumption was not explicitly addressed in both approaches. In contrast, the innovation of this paper is the explicit analysis of credit rationing to w ...
Leaving Certificate Economics
... This can be achieved by controlling market output. Central banks: Central banks occupy pivotal positions in the financial systems of their respective countries. In the UK for example, the Bank of England controls the supply of cash into the economic system and has the responsibility for setting offi ...
... This can be achieved by controlling market output. Central banks: Central banks occupy pivotal positions in the financial systems of their respective countries. In the UK for example, the Bank of England controls the supply of cash into the economic system and has the responsibility for setting offi ...
Considerations for South Sudan joining the East African Monetary
... The final motivation is particularly relevant for countries with histories of monetary instability: these countries may view the delegation of policy to a supra-national authority as a way to reduce ‘inflation bias’ – the tendency for political pressures to allow inflation to creep up to inefficien ...
... The final motivation is particularly relevant for countries with histories of monetary instability: these countries may view the delegation of policy to a supra-national authority as a way to reduce ‘inflation bias’ – the tendency for political pressures to allow inflation to creep up to inefficien ...
Inflation
... purchasing power of the cash balances held by the private sector—like a wealth tax. This tax is a drag on the economy—an "efficiency loss"— because it induces people and businesses to economize on cash balances, making it more difficult to participate in the money economy. Economic losses associated ...
... purchasing power of the cash balances held by the private sector—like a wealth tax. This tax is a drag on the economy—an "efficiency loss"— because it induces people and businesses to economize on cash balances, making it more difficult to participate in the money economy. Economic losses associated ...
PATTERNS OF FINANCIAL CAPITAL FLOWS AND
... real interest rates that are denominated in different currencies. The persistent diverging nature of the real rates of return across countries have been studied and documented in Frankel (1991, and 1993); Marston (1995); Halwood and MacDonald (1994); Blecker (1998) and Eatwell (1996). Finally it is ...
... real interest rates that are denominated in different currencies. The persistent diverging nature of the real rates of return across countries have been studied and documented in Frankel (1991, and 1993); Marston (1995); Halwood and MacDonald (1994); Blecker (1998) and Eatwell (1996). Finally it is ...
Print this article - The Clute Institute
... What is the Law of Demand? Using the concept of Law of Demand, indicate the potential quantity demanded of Christmas Trees at the various price points provided. ...
... What is the Law of Demand? Using the concept of Law of Demand, indicate the potential quantity demanded of Christmas Trees at the various price points provided. ...
2007:3 Alternative measures of inflation for monetary policy analysis
... referred to as “domestic inflation” and regarded as being solely determined by Swedish monetary policy and other domestic conditions. As the example of cucumbers indicates, this must be considered misleading. But even if it were possible to arrive at an exact classification of the goods in UND1X tha ...
... referred to as “domestic inflation” and regarded as being solely determined by Swedish monetary policy and other domestic conditions. As the example of cucumbers indicates, this must be considered misleading. But even if it were possible to arrive at an exact classification of the goods in UND1X tha ...
An electricity-backed currency proposal
... An economic risk is that the market represented by the asset backing a currency may become economically distorted by the central bank’s purchases. Ideally, the central bank should manage currency stability in Purchasing Power Parity (PPP) terms. An economic promise for electrical energy delivered us ...
... An economic risk is that the market represented by the asset backing a currency may become economically distorted by the central bank’s purchases. Ideally, the central bank should manage currency stability in Purchasing Power Parity (PPP) terms. An economic promise for electrical energy delivered us ...
Exchange rate
.jpg?width=300)
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.