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... 23. Which of the following is mentioned in the text as a possible means by which the government may attempt to improve its balance of trade position (increase its exports or reduce its imports). a. It could attempt to reduce its home currency's value. b. The government could require firms to engage ...
... 23. Which of the following is mentioned in the text as a possible means by which the government may attempt to improve its balance of trade position (increase its exports or reduce its imports). a. It could attempt to reduce its home currency's value. b. The government could require firms to engage ...
Rethinking Financial Deepening: Stability and Growth
... the ratio of private credit to GDP and market capitalization to GDP—are rough proxies that do not necessarily capture how well finance accomplishes these various functions. This needs to be taken into account when interpreting empirical results. ...
... the ratio of private credit to GDP and market capitalization to GDP—are rough proxies that do not necessarily capture how well finance accomplishes these various functions. This needs to be taken into account when interpreting empirical results. ...
Thailand`s investment-driven boom and crisis
... The raw data in panels (b), (c), and (d) of Fig. 1 appear to support this view. Panel (b) shows that in 1985 Thailand experienced a large depreciation of the nominal effective exchange rate between 1985 and 1987, because the baht depreciated relative to the dollar in 1985 and because the dollar, to ...
... The raw data in panels (b), (c), and (d) of Fig. 1 appear to support this view. Panel (b) shows that in 1985 Thailand experienced a large depreciation of the nominal effective exchange rate between 1985 and 1987, because the baht depreciated relative to the dollar in 1985 and because the dollar, to ...
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... today neutralize the impact of reserve changes on the money supply and thus prevent the movement of reserves resulting from a payments imbalance from having an equilibrating effect on either income or prices. Acknowledging these facts, economists have come to regard "external balance"—that is, bala ...
... today neutralize the impact of reserve changes on the money supply and thus prevent the movement of reserves resulting from a payments imbalance from having an equilibrating effect on either income or prices. Acknowledging these facts, economists have come to regard "external balance"—that is, bala ...
NBER WORKING PAPER SERIES MULTILATERAL ECONOMIC COOPERATION AND THE INTERNATIONAL
... discretionary stimulus measures such as temporary increases in government spending or tax cuts which have been traditionally considered instruments of stabilization policy. They were also used during the crisis with a view to support economic activity. The most widely discussed measures include the ...
... discretionary stimulus measures such as temporary increases in government spending or tax cuts which have been traditionally considered instruments of stabilization policy. They were also used during the crisis with a view to support economic activity. The most widely discussed measures include the ...
The Great Recession, ‘Rainy Day’ Funds, and Countercyclical Fiscal Policy... Latin America
... United States, the crisis spread internationally very quickly. Developing countries in particular were affected through various channels, both financial and real. The financial channels include sharp contractions in domestic asset prices and capital outflows, while the real channels include reductio ...
... United States, the crisis spread internationally very quickly. Developing countries in particular were affected through various channels, both financial and real. The financial channels include sharp contractions in domestic asset prices and capital outflows, while the real channels include reductio ...
LPL Financial Security Site
... Because of their narrow focus, specialty sector investing, such as healthcare, financials, or energy, will be subject to greater volatility than investing more broadly across many sectors and companies. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a n ...
... Because of their narrow focus, specialty sector investing, such as healthcare, financials, or energy, will be subject to greater volatility than investing more broadly across many sectors and companies. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a n ...
Outlook 2017 > Gauging Market Milestones
... Because of their narrow focus, specialty sector investing, such as healthcare, financials, or energy, will be subject to greater volatility than investing more broadly across many sectors and companies. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a n ...
... Because of their narrow focus, specialty sector investing, such as healthcare, financials, or energy, will be subject to greater volatility than investing more broadly across many sectors and companies. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a n ...
Krugman-Obstfeld-ch12
... – This makes the balance of payments accounts seldom balance in practice. – Account keepers force the two sides to balance by adding to the accounts a statistical discrepancy. – It is very difficult to allocate this discrepancy among the current, capital, and financial accounts. ...
... – This makes the balance of payments accounts seldom balance in practice. – Account keepers force the two sides to balance by adding to the accounts a statistical discrepancy. – It is very difficult to allocate this discrepancy among the current, capital, and financial accounts. ...
** Macroeconomic Stability of Centralized and Decentralized Exchange: Anthropological Data ** This paper revisits an anthropological and historical data set I used years ago, and tests implications about macro-economic stability. It is a companion piece to the "Reciprocal Networks" piece mentioned in the previous section.
... while all Storehouse civilizations on this list also used commercial money, not all monetary systems had significant Storehouse Exchange. By calling the latter mixed case a Monetary system, we are able to make the following distinctions: [Please Place Table 1 about here.] The overall record looks im ...
... while all Storehouse civilizations on this list also used commercial money, not all monetary systems had significant Storehouse Exchange. By calling the latter mixed case a Monetary system, we are able to make the following distinctions: [Please Place Table 1 about here.] The overall record looks im ...
Basque Institutional and Financial Framework
... Local Government Committee This council works as an early warning system for local self-government. Whenever a bill affects to the local autonomy, the council issues an early warning. ...
... Local Government Committee This council works as an early warning system for local self-government. Whenever a bill affects to the local autonomy, the council issues an early warning. ...
Global Collateral - Cowles Foundation
... et al. (2012) show that during the 2000s European investors purchased U.S. asset-backed securities and similar securities. European expansion was financed by increasing liabilities, while in contrast emerging economies financed their purchases of U.S. assets using current account surpluses. Second, ...
... et al. (2012) show that during the 2000s European investors purchased U.S. asset-backed securities and similar securities. European expansion was financed by increasing liabilities, while in contrast emerging economies financed their purchases of U.S. assets using current account surpluses. Second, ...
What drives Financial Distress Risk and Default
... system which is better able to prevent target firms from excessive distress and defaults. Our results indeed suggest that larger capital market, particularly debt markets, are associated with an decreasing effect on financial distress risk. However, we do not find supporting results that this also l ...
... system which is better able to prevent target firms from excessive distress and defaults. Our results indeed suggest that larger capital market, particularly debt markets, are associated with an decreasing effect on financial distress risk. However, we do not find supporting results that this also l ...
1 SWEEZY AND THE MONTHLY REVIEW ON CAPITALISM AND
... now out of control. Hence monetary policy aimed at control of the money supply was stabilising the economy at low levels of output and employment, but was unable to stem inflation. Non-financial firms were now much more fully engaged with the financial markets. But this engagement consisted of wides ...
... now out of control. Hence monetary policy aimed at control of the money supply was stabilising the economy at low levels of output and employment, but was unable to stem inflation. Non-financial firms were now much more fully engaged with the financial markets. But this engagement consisted of wides ...
Government Bonds in Domestic and Foreign Currency
... particularly emerging economies, borrowing in foreign currency can be less expensive than in domestic currency (or at least appear to be so). But foreign currency debt exposes governments and firms to exchange rate risk, as their revenues typically relate to local currency values. This mismatch incr ...
... particularly emerging economies, borrowing in foreign currency can be less expensive than in domestic currency (or at least appear to be so). But foreign currency debt exposes governments and firms to exchange rate risk, as their revenues typically relate to local currency values. This mismatch incr ...
global financial crisis and restructuring of global economy
... commodity markets coupled with doubts about the monetary policy to be pursued by developed nations, many developing nations became uncertain about the policy they themselves have to pursue. • With fewer funds available for development, the GFC has become a crisis of poverty for humanity. The social ...
... commodity markets coupled with doubts about the monetary policy to be pursued by developed nations, many developing nations became uncertain about the policy they themselves have to pursue. • With fewer funds available for development, the GFC has become a crisis of poverty for humanity. The social ...
Chapter 2--International Flow of Funds - College Test bank
... http://collegetestbank.eu/Test-Bank-International-Financial-Management-11th-Edition-Jeff-Madura 31. Also known as the "central banks' central bank," the ____ attempts to facilitate cooperation among countries with regard to international transactions and provides assistance to countries experiencing ...
... http://collegetestbank.eu/Test-Bank-International-Financial-Management-11th-Edition-Jeff-Madura 31. Also known as the "central banks' central bank," the ____ attempts to facilitate cooperation among countries with regard to international transactions and provides assistance to countries experiencing ...
What is the Appropriate Size of the Banking System?
... outgrown the real economy. Beck, Degryse and Kneer (2012) criticise previous studies for neglecting the fact that during the last decades the financial sector has gradually extended its scope beyond traditional intermediation activities. To capture this trend in their study, Beck et al (2012) split ...
... outgrown the real economy. Beck, Degryse and Kneer (2012) criticise previous studies for neglecting the fact that during the last decades the financial sector has gradually extended its scope beyond traditional intermediation activities. To capture this trend in their study, Beck et al (2012) split ...
Macroeconomic crises and Macroeconomic Models Daniel Heymann July- August 2010
... scandals…But probably these frauds could never have become so great without the original starters of real opportunities to invest lucratively. There is always a very real basis for the „new era‟ psychology before it runs away with all its victims” (I. Fisher, 1933). ...
... scandals…But probably these frauds could never have become so great without the original starters of real opportunities to invest lucratively. There is always a very real basis for the „new era‟ psychology before it runs away with all its victims” (I. Fisher, 1933). ...
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... does say, however, is that the reform policies favored by the multilaterals included encouraging foreign direct investment and the liberalization of domestic capital markets. Legally speaking -- and as the IMF documented year after year --, during most of the post World War II era the vast majority ...
... does say, however, is that the reform policies favored by the multilaterals included encouraging foreign direct investment and the liberalization of domestic capital markets. Legally speaking -- and as the IMF documented year after year --, during most of the post World War II era the vast majority ...
Exchange Rates - Carleton University
... predetermined indicators or events that deem adjustment necessary 12 . The main objective is to allow adjustments in accordance with the parity in a less abrupt fashion than an adjustable peg. For example, under an adjustable peg, when authorities deem a change necessary the change can be very abrup ...
... predetermined indicators or events that deem adjustment necessary 12 . The main objective is to allow adjustments in accordance with the parity in a less abrupt fashion than an adjustable peg. For example, under an adjustable peg, when authorities deem a change necessary the change can be very abrup ...
The Norwegian banking crisis
... The Norwegian banking crisis lasted from 1988 to 1993, and banks accounting for almost sixty per cent of bank lending to the non-…nancial domestic sector were in trouble. The crisis peaked in the autumn of 1991 with the second and fourth largest banks in Norway (with a combined market share of 24%) ...
... The Norwegian banking crisis lasted from 1988 to 1993, and banks accounting for almost sixty per cent of bank lending to the non-…nancial domestic sector were in trouble. The crisis peaked in the autumn of 1991 with the second and fourth largest banks in Norway (with a combined market share of 24%) ...
mmi12-DeNicolo 17765236 en
... The 2007-2009 financial crisis has spurred renewed efforts in systemic risk modeling. Bisias et al. (2012) provide an extensive survey of the models currently available to measure and track indicators of systemic financial risk. However, three limitations of current modeling emerge from this survey. ...
... The 2007-2009 financial crisis has spurred renewed efforts in systemic risk modeling. Bisias et al. (2012) provide an extensive survey of the models currently available to measure and track indicators of systemic financial risk. However, three limitations of current modeling emerge from this survey. ...
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.