What Is Monetary Policy?
... Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall · Macroeconomics · R. Glenn Hubbard, Anthony Patrick O’Brien, 3e. ...
... Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall · Macroeconomics · R. Glenn Hubbard, Anthony Patrick O’Brien, 3e. ...
Approaching storm. Report on transformation Central and Eastern Europe and the eurozone crisis
... Bulgaria and Slovenia, while the situation in Belarus is made complicated by a huge dependence on exports to Russia. Another type of problem may be caused by an export monoculture (excessive dependence on a single type of exported goods), especially if the market for those goods is very sensitive to ...
... Bulgaria and Slovenia, while the situation in Belarus is made complicated by a huge dependence on exports to Russia. Another type of problem may be caused by an export monoculture (excessive dependence on a single type of exported goods), especially if the market for those goods is very sensitive to ...
mmi12-DeGrauwe 17822147 en
... empirical puzzles. First, during the period 2000-‐2008 the spreads were very close to zero indicating that the default risks were perceived to be practically zero for all the Eurozone ...
... empirical puzzles. First, during the period 2000-‐2008 the spreads were very close to zero indicating that the default risks were perceived to be practically zero for all the Eurozone ...
pdf · 209.2 KB
... France remained major sources of uncertainty and continued to weigh on economic activity. In developed economies, the economic recovery gained further momentum throughout the quarter, supported by an uptick in consumer confidence as well as improvements in domestic demand, manufacturing activity and ...
... France remained major sources of uncertainty and continued to weigh on economic activity. In developed economies, the economic recovery gained further momentum throughout the quarter, supported by an uptick in consumer confidence as well as improvements in domestic demand, manufacturing activity and ...
Financial Results for the year ended 30 June 2014
... The main drivers behind the result were a significant acceleration of revenue growth in the second half of the financial year and tightly managed expenses throughout the period. Particularly pleasing was the performance of The Star, where the expanded facilities are gaining traction and customers ar ...
... The main drivers behind the result were a significant acceleration of revenue growth in the second half of the financial year and tightly managed expenses throughout the period. Particularly pleasing was the performance of The Star, where the expanded facilities are gaining traction and customers ar ...
implications of EMU for global macroeconomic and financial stability
... The argument is that the more integrated, more liquid and broader financial markets that EMU is helping to create in the euro area could increase risk diversification possibilities not only within the euro area but also in the world at large. The broadening of euro area financial markets makes them ...
... The argument is that the more integrated, more liquid and broader financial markets that EMU is helping to create in the euro area could increase risk diversification possibilities not only within the euro area but also in the world at large. The broadening of euro area financial markets makes them ...
Technology Transfer and the Restructuring of New Market
... The paper is an attempt to generalise some empirical evidence on the relationship between technology transfer and structural adjustment in the new market economies in Central and Eastern Europe. The Polish experience in 1989-1994 is selected as a point of reference. It is argued that ten stylised fa ...
... The paper is an attempt to generalise some empirical evidence on the relationship between technology transfer and structural adjustment in the new market economies in Central and Eastern Europe. The Polish experience in 1989-1994 is selected as a point of reference. It is argued that ten stylised fa ...
DOLLARISATION AND THE UNDERGROUND ECONOMY
... the issuing country) or of foreign currency at the moment it crosses the border is the basic direct method. In open countries with high foreign currency inflows (high with respect to GDP) from tourism and transfers from expatriates (which because of geographical propinquity often arrive in the form ...
... the issuing country) or of foreign currency at the moment it crosses the border is the basic direct method. In open countries with high foreign currency inflows (high with respect to GDP) from tourism and transfers from expatriates (which because of geographical propinquity often arrive in the form ...
The relationship between carry trade currencies and
... pairs, grouped by interest differentials, and two equity indexes, the S&P 500 and FTSE All-World, along with data for the VIX volatility index, for the 2003-2012 period. The data was collected from Thomson Reuters Datastream and the selected ten year span was divided into three different periods. Th ...
... pairs, grouped by interest differentials, and two equity indexes, the S&P 500 and FTSE All-World, along with data for the VIX volatility index, for the 2003-2012 period. The data was collected from Thomson Reuters Datastream and the selected ten year span was divided into three different periods. Th ...
Global Business Today, 5e
... The most common controls to restrict FDI are ownership restraints and performance requirements. The rationale underlying ownership restraints is twofold: • first, foreign firms are often excluded from certain sectors on the grounds of national security or competition • second, ownership restraints s ...
... The most common controls to restrict FDI are ownership restraints and performance requirements. The rationale underlying ownership restraints is twofold: • first, foreign firms are often excluded from certain sectors on the grounds of national security or competition • second, ownership restraints s ...
No.1 - BNR
... money based on two major characteristics of money - the medium of exchange and the store of value. He referred to these characteristics of money as ‘object’ of transaction, and ‘object’ of security. In other words, “Pigou’s basic reasons for the demand for money balances were the ‘objects’ of the pr ...
... money based on two major characteristics of money - the medium of exchange and the store of value. He referred to these characteristics of money as ‘object’ of transaction, and ‘object’ of security. In other words, “Pigou’s basic reasons for the demand for money balances were the ‘objects’ of the pr ...
The impact of monetary policy on particular sectors of the economy
... Figure 10. Poland household credit ........................................................................................ 86 Figure 11. Inflation in Poland 1991-2002 ............................................................................... 87 Figure 12. Poland inflation rate ................ ...
... Figure 10. Poland household credit ........................................................................................ 86 Figure 11. Inflation in Poland 1991-2002 ............................................................................... 87 Figure 12. Poland inflation rate ................ ...
S2011925_en.pdf
... Eastern Caribbean Currency Union (ECCU) posted negative growth in 2009 due to the decline in tourist arrivals, offshore banking and other related services such as construction. At the same time, even though lesser effects on growth were felt by those countries which benefited from robust commodity p ...
... Eastern Caribbean Currency Union (ECCU) posted negative growth in 2009 due to the decline in tourist arrivals, offshore banking and other related services such as construction. At the same time, even though lesser effects on growth were felt by those countries which benefited from robust commodity p ...
24/01/2013 - EXEL Industries
... We will continue our international expansion and consolidate our presence in the gardening segment with the acquisition of HOZELOCK in October 2012. We have begun 2013 with the same level of determination and pragmatism that marked our approach in 2012, focusing on our three operating priorities. > ...
... We will continue our international expansion and consolidate our presence in the gardening segment with the acquisition of HOZELOCK in October 2012. We have begun 2013 with the same level of determination and pragmatism that marked our approach in 2012, focusing on our three operating priorities. > ...
Français: FIFO Español: FIFO
... Fixed exchange rate system: A system where the exchange rates of the participating currencies are tied to (i.e. fixed in terms of) some common standard, such as gold, another country’s currency, a basket of currencies, etc. Limited fluctuations from such common standards may be allowed, leading to a ...
... Fixed exchange rate system: A system where the exchange rates of the participating currencies are tied to (i.e. fixed in terms of) some common standard, such as gold, another country’s currency, a basket of currencies, etc. Limited fluctuations from such common standards may be allowed, leading to a ...
Accounting for Financial Instruments: Difficulties with Fair Value
... (“Focus” 2012). They believed the threshold required to record credit impairments was much too high and that it resulted in the delayed losses (“Focus” 2010). The Boards agreed to take immediate, separate action on those issues, but emphasized the need for a common, long-term solution in the end (“ ...
... (“Focus” 2012). They believed the threshold required to record credit impairments was much too high and that it resulted in the delayed losses (“Focus” 2010). The Boards agreed to take immediate, separate action on those issues, but emphasized the need for a common, long-term solution in the end (“ ...
Why doesn’t Capital Flow from Rich to Poor Countries? An
... We use capital inflows data from three different sources. Two of our data sets are Kraay, Loayza, Serven, and Ventura (2000) (KLSV) and Lane and Milesi-Ferretti (2001) (LM). These authors construct estimates of foreign assets and liabilities and their subcomponents for different countries in the sev ...
... We use capital inflows data from three different sources. Two of our data sets are Kraay, Loayza, Serven, and Ventura (2000) (KLSV) and Lane and Milesi-Ferretti (2001) (LM). These authors construct estimates of foreign assets and liabilities and their subcomponents for different countries in the sev ...
Assessing the Equilibrium Exchange Rate of the Cyprus Pound at
... Exchange rate policy in Cyprus was historically geared towards maintaining macroeconomic stability through the linkage of the Cyprus pound with a currency anchor, either a single currency or a basket of currencies. The currency anchor changed several times. During the period of 1963 – 1972 the Cypru ...
... Exchange rate policy in Cyprus was historically geared towards maintaining macroeconomic stability through the linkage of the Cyprus pound with a currency anchor, either a single currency or a basket of currencies. The currency anchor changed several times. During the period of 1963 – 1972 the Cypru ...
How to Access Trade Finance: A guide for exporting SMEs
... The current global economic and financial crisis is not conducive to the business development of small firms, especially those with international markets. Millions of these enterprises, considered the backbone of an economy, have collapsed. Small and medium-sized enterprises (SMEs) in developing cou ...
... The current global economic and financial crisis is not conducive to the business development of small firms, especially those with international markets. Millions of these enterprises, considered the backbone of an economy, have collapsed. Small and medium-sized enterprises (SMEs) in developing cou ...
Macroeconomic Management When Policy Space is Constrained
... debt-to-GDP ratios weigh on many countries. Demographic pressures are driving up public spending. An adequate framework that credibly ensures long-term budget sustainability and manages public sector balance sheet risks would provide room for fiscal stimulus. ...
... debt-to-GDP ratios weigh on many countries. Demographic pressures are driving up public spending. An adequate framework that credibly ensures long-term budget sustainability and manages public sector balance sheet risks would provide room for fiscal stimulus. ...
NBER WORKING PAPER SERIES SHARING THE BURDEN: David Cook
... Our results in fact show that the response of policy interest rates in a global liquidity trap are piecewise functions of the degree of trade-openness, as measure by the parameter of ‘home bias’ in preferences. When preferences are identical, trade is fully open, and a global liquidity trap is assoc ...
... Our results in fact show that the response of policy interest rates in a global liquidity trap are piecewise functions of the degree of trade-openness, as measure by the parameter of ‘home bias’ in preferences. When preferences are identical, trade is fully open, and a global liquidity trap is assoc ...
Follow the money - Bretton Woods Project
... infrastructure and climate While the World Bank and the IFC are leaders in this area, they are not the only public institutions that promote financial deepening or provide finance to the private financial sector in developing countries. A host of development finance institutions (DFIs) now operate i ...
... infrastructure and climate While the World Bank and the IFC are leaders in this area, they are not the only public institutions that promote financial deepening or provide finance to the private financial sector in developing countries. A host of development finance institutions (DFIs) now operate i ...
macroeconomic effects of exchange rate volatility in zambia
... The study of persistent variability in the exchange rate post-1973 remains an active subject of empirical investigation due to the adverse effects a volatile exchange rate can potentially impose on the economy. Policymakers are interested in exchange rate volatility for formulating suitable macroeco ...
... The study of persistent variability in the exchange rate post-1973 remains an active subject of empirical investigation due to the adverse effects a volatile exchange rate can potentially impose on the economy. Policymakers are interested in exchange rate volatility for formulating suitable macroeco ...
EMU Break-up
... Once again our purpose is not to assess the probability of EMU break-up, but its impact. Calibrating the impact remains challenging, but it is now essential to make informed investment decisions. We evaluate two boundary cases: a Greek exit and a complete break-up. Although there are many permutatio ...
... Once again our purpose is not to assess the probability of EMU break-up, but its impact. Calibrating the impact remains challenging, but it is now essential to make informed investment decisions. We evaluate two boundary cases: a Greek exit and a complete break-up. Although there are many permutatio ...
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.