On the Benefits of Capital Account Liberalization for Emerging
... and while this benefit can be significant, it is not very large when compared to the benefits of alternative policies that reduce domestic distortions or increase domestic productivity. This leads us to think that the second category of benefits-in terms of incentives to reform or good policies-shou ...
... and while this benefit can be significant, it is not very large when compared to the benefits of alternative policies that reduce domestic distortions or increase domestic productivity. This leads us to think that the second category of benefits-in terms of incentives to reform or good policies-shou ...
Chapter 05 The United States in the Global Economy
... 54. Renee earns $500 per hour in the courtroom as a trial lawyer; she can type up her legal documents at a rate of 80 words per minute. Christopher has no training as a trial lawyer, but can type legal documents at a rate of 50 words per minute for a wage of $30 per hour. Based on the theory of comp ...
... 54. Renee earns $500 per hour in the courtroom as a trial lawyer; she can type up her legal documents at a rate of 80 words per minute. Christopher has no training as a trial lawyer, but can type legal documents at a rate of 50 words per minute for a wage of $30 per hour. Based on the theory of comp ...
Is Numérairology the Future of Monetary Economics?
... sufficient speed and flexibility to set the own rate of interest on bread. If in addition money wages or prices were sticky in terms of the bread numéraire, the bakers’ guild would have a non-trivial monetary stabilisation policy role. The welfare significance of the numéraire when there are nominal ...
... sufficient speed and flexibility to set the own rate of interest on bread. If in addition money wages or prices were sticky in terms of the bread numéraire, the bakers’ guild would have a non-trivial monetary stabilisation policy role. The welfare significance of the numéraire when there are nominal ...
FROM STANDARD TO David I. Fand A RANDOM-WALK MONETARY
... keep it relatively flat, or whether to decelerate money stock growth. Policymakers focus primarily on current economic conditions and immediate political pressures. Future money growth rates are left unspecified, and the monetary officials who will be in charge when the time comes will either accele ...
... keep it relatively flat, or whether to decelerate money stock growth. Policymakers focus primarily on current economic conditions and immediate political pressures. Future money growth rates are left unspecified, and the monetary officials who will be in charge when the time comes will either accele ...
influence of liquidity on profitability - e
... costs related to storing and insuring them – the higher the level of inventories, the higher the costs of keeping them. Moreover, in case of inventories stored for a long time the company may bear the costs resulting from their deterioration or aging, experiencing the loss amounting to their total ...
... costs related to storing and insuring them – the higher the level of inventories, the higher the costs of keeping them. Moreover, in case of inventories stored for a long time the company may bear the costs resulting from their deterioration or aging, experiencing the loss amounting to their total ...
Free Full text
... review have been favorable and economic outlook for 2016‒17 remains positive. Focus. Discussions centered on the 2017 budget to offset the fiscal initiatives announced in early 2016. The stance of monetary policy and the adequacy of external reserves level were discussed in the context of the strong ...
... review have been favorable and economic outlook for 2016‒17 remains positive. Focus. Discussions centered on the 2017 budget to offset the fiscal initiatives announced in early 2016. The stance of monetary policy and the adequacy of external reserves level were discussed in the context of the strong ...
The Role of the Bank Balance-Sheet Channel for the Transmission of
... measure of aggregate BBS shocks for each debtor country. We then decompose these aggregate shocks into indirect BBS shocks arising through third party countries (common-creditor shocks), and BBS shocks arising through economic and financial developments in the countries where creditor banks are loca ...
... measure of aggregate BBS shocks for each debtor country. We then decompose these aggregate shocks into indirect BBS shocks arising through third party countries (common-creditor shocks), and BBS shocks arising through economic and financial developments in the countries where creditor banks are loca ...
From quantity to sustainable quality Increasing intellectual capital
... measure of well-being it can no longer be used as a sole yardstick of country or regional progress. Commission announced that pilot of an environmental index will be proposed in 2010 that will assess progress in the main fields of environmental policy and protection. The index will cover areas such ...
... measure of well-being it can no longer be used as a sole yardstick of country or regional progress. Commission announced that pilot of an environmental index will be proposed in 2010 that will assess progress in the main fields of environmental policy and protection. The index will cover areas such ...
The Drivers and Dynamics of Illicit Financial Flows from India: 1948
... illicit flows and how they are likely to interact. An important finding in this study is that illicit flows from India are more likely to have been driven by a complex interplay of structural factors and governance issues than they are by poor macroeconomic policies. Hence, in order to curtail such ...
... illicit flows and how they are likely to interact. An important finding in this study is that illicit flows from India are more likely to have been driven by a complex interplay of structural factors and governance issues than they are by poor macroeconomic policies. Hence, in order to curtail such ...
Recent studies have found that PEFM is more likely in new
... In an analysis of speculative attacks in ninety developing countries, Leblang (2003) finds that governments are most likely to defend the value of their currency prior to an election, and argues that governments’ greater commitment to their exchange rate peg reduces the likelihood of a pre-electoral ...
... In an analysis of speculative attacks in ninety developing countries, Leblang (2003) finds that governments are most likely to defend the value of their currency prior to an election, and argues that governments’ greater commitment to their exchange rate peg reduces the likelihood of a pre-electoral ...
completing conditions to implement monetary policy under inflation
... Human factor takes charge of statistics, analysis and communication. The training in econometrics, macro-economic understanding and building suitable forecasting models is important in forecasting inflation. Policy makers must have certain knowledge about the transmission channels of monetary policy ...
... Human factor takes charge of statistics, analysis and communication. The training in econometrics, macro-economic understanding and building suitable forecasting models is important in forecasting inflation. Policy makers must have certain knowledge about the transmission channels of monetary policy ...
Money Management Institute (MMI)
... interconnectedness, substitutability, complexity, and global (cross-jurisdictional) activities. After setting forth the general conceptual and operational frameworks for identifying NBNI G-SIFIs, the Document discusses sector-specific methodologies, including one for asset managers. Rather than addr ...
... interconnectedness, substitutability, complexity, and global (cross-jurisdictional) activities. After setting forth the general conceptual and operational frameworks for identifying NBNI G-SIFIs, the Document discusses sector-specific methodologies, including one for asset managers. Rather than addr ...
2010 - GuocoLand Limited
... for the SoHo units. We have todate achieved successful sales of about 80% of these units. The 5-star Guoman Hotel Shanghai was opened for business in July 2010. The Guoman brand is associated with deluxe properties and exceptional service standards, and the hotel’s opening is its first outside of th ...
... for the SoHo units. We have todate achieved successful sales of about 80% of these units. The 5-star Guoman Hotel Shanghai was opened for business in July 2010. The Guoman brand is associated with deluxe properties and exceptional service standards, and the hotel’s opening is its first outside of th ...
BNR ECONOMIC REVIEW Vol. 9
... Furthermore, changes in technology which affects preferences of economic agents in terms of financial products affects also their portfolio management which in turn influences money multiplier (Goodhart, 1989; Kigabo; 2014). In the above context, the objective of this paper is to assess the possible ...
... Furthermore, changes in technology which affects preferences of economic agents in terms of financial products affects also their portfolio management which in turn influences money multiplier (Goodhart, 1989; Kigabo; 2014). In the above context, the objective of this paper is to assess the possible ...
Economic Developments in Portuguese
... coupled with a decline in business profitability. In 2015 and early 2016, the dollarisation of the banking system reversed the downward trend seen in recent years, which, given foreign exchange market developments, may pose risks to financial stability (loans in foreign currency accounted for 34.8 p ...
... coupled with a decline in business profitability. In 2015 and early 2016, the dollarisation of the banking system reversed the downward trend seen in recent years, which, given foreign exchange market developments, may pose risks to financial stability (loans in foreign currency accounted for 34.8 p ...
What is the Wealth of a Nation?
... “analysts” opined that these same stocks were worth only about 60% of what they had been worth in early 2000. And so it goes for the other markets. What are we to conclude from these remarkable data? Can we trust the financial markets at all to put realistic values on real and financial assets? The ...
... “analysts” opined that these same stocks were worth only about 60% of what they had been worth in early 2000. And so it goes for the other markets. What are we to conclude from these remarkable data? Can we trust the financial markets at all to put realistic values on real and financial assets? The ...
the relationship betweeen financial leverage and
... Businesses deploy a number of strategies to improve profitability, including streamlining processes, outsourcing and integrating new technologies. Financial leverage offers an alternative way to increase profits by financing a portion of the business through loans or by issuing stock. Akhtar (2012) ...
... Businesses deploy a number of strategies to improve profitability, including streamlining processes, outsourcing and integrating new technologies. Financial leverage offers an alternative way to increase profits by financing a portion of the business through loans or by issuing stock. Akhtar (2012) ...
This PDF is a selection from a published volume
... relative prices, that is, by the internal real exchange rate. This was a consequence of the assumptions it employed: strong homogeneity in international goods markets, where purchasing power parity (PPP) is dominant and the only source of heterogeneity is the distinction between tradables and non-tr ...
... relative prices, that is, by the internal real exchange rate. This was a consequence of the assumptions it employed: strong homogeneity in international goods markets, where purchasing power parity (PPP) is dominant and the only source of heterogeneity is the distinction between tradables and non-tr ...
The Real Sterling Crisis
... • But we have subsequently learned, if we did not know it beforehand, that, left to their own devices, the financial markets may systematically misprice financial variables, and that they may behave in a reckless way in the pursuit of individual short-term gain that puts the long-term stability of t ...
... • But we have subsequently learned, if we did not know it beforehand, that, left to their own devices, the financial markets may systematically misprice financial variables, and that they may behave in a reckless way in the pursuit of individual short-term gain that puts the long-term stability of t ...
free sample here
... behind Pax's decisions to expand operations in particular areas. Rashid Ahl focuses on early expansion to China, which occurred after China began to make its market more accessible to foreign companies. Markus Teller focuses on Pax's expansion to Eastern Europe, which was motivated by increased indu ...
... behind Pax's decisions to expand operations in particular areas. Rashid Ahl focuses on early expansion to China, which occurred after China began to make its market more accessible to foreign companies. Markus Teller focuses on Pax's expansion to Eastern Europe, which was motivated by increased indu ...
NBER WORKING PAPER SERIES ARE ALL BANKING CRISES ALIKE? THE JAPANESE EXPERIENCE
... Several common features of countries experiencing banking problems emerge from numerous case studies. A recent IMF (1998) report summarizes this literature and identifies several general categories of problems frequently associated with financial crises: unsustainable macroeconomic policies, weaknes ...
... Several common features of countries experiencing banking problems emerge from numerous case studies. A recent IMF (1998) report summarizes this literature and identifies several general categories of problems frequently associated with financial crises: unsustainable macroeconomic policies, weaknes ...
Risky Banks and Macroprudential Policy for Emerging Economies Gabriel Cuadra Victoria Nuguer
... the discussion of the Basel Agreements. As a result of the financial crisis, the Federal Reserve and other central banks introduced a set of so-called “unconventional” monetary policies. In particular, the Fed started to intervene directly in the credit market, lending to non-financial institutions ...
... the discussion of the Basel Agreements. As a result of the financial crisis, the Federal Reserve and other central banks introduced a set of so-called “unconventional” monetary policies. In particular, the Fed started to intervene directly in the credit market, lending to non-financial institutions ...
The Politics of Transgovernmental Network Participation
... by global rules, and therefore the greater their interest in ensuring their jurisdiction gets involved in international regulatory efforts (Singer 2007). We test our domestic politics argument in a novel dataset of network membership for financial securities and insurance cooperation. Created in 198 ...
... by global rules, and therefore the greater their interest in ensuring their jurisdiction gets involved in international regulatory efforts (Singer 2007). We test our domestic politics argument in a novel dataset of network membership for financial securities and insurance cooperation. Created in 198 ...
apers g P orkin al Bank W
... Bean (2004) and Kohn (2006) discuss the implications of transmission lags for the use of monetary policy in the face of asset price bubbles. ...
... Bean (2004) and Kohn (2006) discuss the implications of transmission lags for the use of monetary policy in the face of asset price bubbles. ...
Global financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.A series of currency devaluations and oil crises in the 1970s led most countries to float their currencies. The world economy became increasingly financially integrated in the 1980s and 1990s due to capital account liberalization and financial deregulation. A series of financial crises in Europe, Asia, and Latin America followed with contagious effects due to greater exposure to volatile capital flows. The global financial crisis, which originated in the United States in 2007, quickly propagated among other nations and is recognized as the catalyst for the worldwide Great Recession. A market adjustment to Greece's noncompliance with its monetary union in 2009 ignited a sovereign debt crisis among European nations known as the Eurozone crisis.A country's decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. Both individuals and groups may participate in the global financial system. Consumers and international businesses undertake consumption, production, and investment. Governments and intergovernmental bodies act as purveyors of international trade, economic development, and crisis management. Regulatory bodies establish financial regulations and legal procedures, while independent bodies facilitate industry supervision. Research institutes and other associations analyze data, publish reports and policy briefs, and host public discourse on global financial affairs.While the global financial system is edging toward greater stability, governments must deal with differing regional or national needs. Some nations are trying to orderly discontinue unconventional monetary policies installed to cultivate recovery, while others are expanding their scope and scale. Emerging market policymakers face a challenge of precision as they must carefully institute sustainable macroeconomic policies during extraordinary market sensitivity without provoking investors to retreat their capital to stronger markets. Nations' inability to align interests and achieve international consensus on matters such as banking regulation has perpetuated the risk of future global financial catastrophes.