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... With the start of the year 1999 the European Monetary Union went into effect with its central institution, the European Central Bank, and its single currency, the euro. After more than a year in existence, the euro has depreciated by more than 17% against the US dollar. In some quarters this has rai ...
... With the start of the year 1999 the European Monetary Union went into effect with its central institution, the European Central Bank, and its single currency, the euro. After more than a year in existence, the euro has depreciated by more than 17% against the US dollar. In some quarters this has rai ...
Macroeconomic Policies: New Issues of Interdependence
... turning to hedge funds, searching for uncorrelated asset classes with a focus on absolute (rather than benchmark‐oriented) returns. These new actors may require policy attention as they have probably introduced amplifiers to global credit cycles, with potentially harmful effe ...
... turning to hedge funds, searching for uncorrelated asset classes with a focus on absolute (rather than benchmark‐oriented) returns. These new actors may require policy attention as they have probably introduced amplifiers to global credit cycles, with potentially harmful effe ...
Capital Flows to Central and Eastern Europe Philip R. Lane
... net external position. Nevertheless, given the large trade deficits several of these countries are currently running, the needed shift in the trade balance is substantial, particularly for the Baltic countries, Bulgaria, and Romania. Faster export growth, lower spreads on external debt, higher EU tr ...
... net external position. Nevertheless, given the large trade deficits several of these countries are currently running, the needed shift in the trade balance is substantial, particularly for the Baltic countries, Bulgaria, and Romania. Faster export growth, lower spreads on external debt, higher EU tr ...
The Global Competitiveness Index 2012–2013: Country Profile
... competitiveness, with a fiscal deficit nearing 9 percent in 2011, an increase of 5 percentage points in public debt amounting to 82.5 percent of GDP in 2011 (127th) and a comparatively low national savings rate (12.9 percent of GDP in 2011, 113th). As the second-placed Asian economy behind Singapore ...
... competitiveness, with a fiscal deficit nearing 9 percent in 2011, an increase of 5 percentage points in public debt amounting to 82.5 percent of GDP in 2011 (127th) and a comparatively low national savings rate (12.9 percent of GDP in 2011, 113th). As the second-placed Asian economy behind Singapore ...
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... Effects of the US dollar depreciation on the US current account deficit VAR models and data Ogawa and Kudo (2007) investigated how the US dollar depreciation would affect the US current account deficit. In this context we simulated how much depreciation of the US dollar was needed for current accoun ...
... Effects of the US dollar depreciation on the US current account deficit VAR models and data Ogawa and Kudo (2007) investigated how the US dollar depreciation would affect the US current account deficit. In this context we simulated how much depreciation of the US dollar was needed for current accoun ...
8. Financial statements - Australian Reinsurance Pool Corporation
... nature of principal and interest on the principal outstanding, and in which case the financial asset is to be carried at amortised cost. Where an entity's objective for holding a financial asset changes, so should the accounting treatment. The sale of a financial asset for portfolio management, cred ...
... nature of principal and interest on the principal outstanding, and in which case the financial asset is to be carried at amortised cost. Where an entity's objective for holding a financial asset changes, so should the accounting treatment. The sale of a financial asset for portfolio management, cred ...
Classification of Financial Assets and Liabilities
... 4.13. For gold bullion, there is no corresponding liability. Transactions in gold bullion, excluding those among monetary authorities and international financial institutions, are treated as transactions in nonfinancial assets. When a monetary authority purchases gold bullion for inclusion in reserv ...
... 4.13. For gold bullion, there is no corresponding liability. Transactions in gold bullion, excluding those among monetary authorities and international financial institutions, are treated as transactions in nonfinancial assets. When a monetary authority purchases gold bullion for inclusion in reserv ...
Comprehensive Growth Strategy - Indonesia
... Since 2013, considering increasing uncertainties in the global economy, the Government’s short-‐term focus is to promote economic stability. Specifically, it is acknowledged on the need to manage current account ...
... Since 2013, considering increasing uncertainties in the global economy, the Government’s short-‐term focus is to promote economic stability. Specifically, it is acknowledged on the need to manage current account ...
NBER WORKING PAPER SERIES WHAT'S NEXT FOR THE DOLLAR? Martin S. Feldstein
... The real trade weighted value of the dollar fell 11 percent against the Federal Reserve Bank’s index of major currencies during the 12 months through May 2011 and 31 percent during the past ten years. Four strong market forces are likely to cause further declines over the next several years: a portf ...
... The real trade weighted value of the dollar fell 11 percent against the Federal Reserve Bank’s index of major currencies during the 12 months through May 2011 and 31 percent during the past ten years. Four strong market forces are likely to cause further declines over the next several years: a portf ...
On the concept of locational competition
... order to finance the public good there. It is therefore not correct to state that locational competition will lead to a zero supply of public goods. 12. Policy competition in the provision of public goods and in taxes has an important institutional aspect. This is the issue of fiscal equivalence [Ol ...
... order to finance the public good there. It is therefore not correct to state that locational competition will lead to a zero supply of public goods. 12. Policy competition in the provision of public goods and in taxes has an important institutional aspect. This is the issue of fiscal equivalence [Ol ...
Liquidity in the foreign exchange market for EUR/NOK by Kathrine
... In this Commentary we will take a closer look at liquidity conditions in the market for the EUR/NOK. We assess the relationship between liquidity conditions and the spot exchange rate and look at liquidity conditions in EUR/NOK compared to other currency pairs, like EUR/SEK. Historical liquidity co ...
... In this Commentary we will take a closer look at liquidity conditions in the market for the EUR/NOK. We assess the relationship between liquidity conditions and the spot exchange rate and look at liquidity conditions in EUR/NOK compared to other currency pairs, like EUR/SEK. Historical liquidity co ...
Kiss me deadly: From Finnish great depression to great recession
... transmission by the ravaged domestic financial system and the shocks originating within it, the collapse of Finnish–Soviet trade would have had a considerably smaller impact on Finnish GDP. It was the eponymous “deadly kiss” of the financial sector that turned the Finnish economy into a true film n ...
... transmission by the ravaged domestic financial system and the shocks originating within it, the collapse of Finnish–Soviet trade would have had a considerably smaller impact on Finnish GDP. It was the eponymous “deadly kiss” of the financial sector that turned the Finnish economy into a true film n ...
national bank of the republic of macedonia interset rate policy in the
... The interest rate is at the same time revenue and expenditure component in the balance of each banking institution. On one hand, the banks mobilize the free assets from the economic agents with surplus of assets with existence of certain structure of the interest rates, and for the banks this is a ...
... The interest rate is at the same time revenue and expenditure component in the balance of each banking institution. On one hand, the banks mobilize the free assets from the economic agents with surplus of assets with existence of certain structure of the interest rates, and for the banks this is a ...
Côte d`Ivoire - African Development Bank
... Now, all the banks established in Côte d'Ivoire have fairly stable balance sheet structures and the income statements for the last two years, in particular for 1995, are very satisfactory. The same observation may be made for the insurance and stock exchange sectors. There is a positive return on eq ...
... Now, all the banks established in Côte d'Ivoire have fairly stable balance sheet structures and the income statements for the last two years, in particular for 1995, are very satisfactory. The same observation may be made for the insurance and stock exchange sectors. There is a positive return on eq ...
Helicopters 101: your guide to monetary financing
... financing, post-war policy-makers clashed vehemently over the costs and benefits of continuing wartime policy. Monetization has also been widely used in developing economies but often conjures up images of hyperinflation brought about by populist leaders in developing countries. In modern times both ...
... financing, post-war policy-makers clashed vehemently over the costs and benefits of continuing wartime policy. Monetization has also been widely used in developing economies but often conjures up images of hyperinflation brought about by populist leaders in developing countries. In modern times both ...
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... The equilibrium real exchange rate and external debt interact in a dynamic manner. NATREX analysis concerns the equilibrium real exchange rate and is not the actual real exchange rate. The NATREX explains the fundamental determinants of the medium-run equilibrium and the dynamic trajectory of the re ...
... The equilibrium real exchange rate and external debt interact in a dynamic manner. NATREX analysis concerns the equilibrium real exchange rate and is not the actual real exchange rate. The NATREX explains the fundamental determinants of the medium-run equilibrium and the dynamic trajectory of the re ...
Security Master Plan Implementation - Phase I
... Modern Infrastructure in accordance with the most efficient international standards. Investment in infrastructure has resulted in lower cost of doing business, logistics and delivery of services. Modern telecommunication networks and highest internet penetration and utilization rates in the MENA r ...
... Modern Infrastructure in accordance with the most efficient international standards. Investment in infrastructure has resulted in lower cost of doing business, logistics and delivery of services. Modern telecommunication networks and highest internet penetration and utilization rates in the MENA r ...
Access to finance remains a key constraint, particularly for SMEs
... •SME’s can play a major role in economic development, particularly in emerging markets •Access to finance remains a key constraint however, particularly in MENA •IFC as part of G20 SME Finance sub-group recently completed a review of global SME finance practices and reviewed 164 different models sub ...
... •SME’s can play a major role in economic development, particularly in emerging markets •Access to finance remains a key constraint however, particularly in MENA •IFC as part of G20 SME Finance sub-group recently completed a review of global SME finance practices and reviewed 164 different models sub ...
![Outcomes: Investment [PDF 98 KB]](http://s1.studyres.com/store/data/014251067_1-ce0be2dea73cb5b186516a5de712a10d-300x300.png)
Outcomes: Investment [PDF 98 KB]
... OUTCOMES: INVESTMENT BENEFITS OF FOREIGN INVESTMENT TO AUSTRALIA As a large country with a relatively small population, Australia relies on foreign investment to supplement domestic capital. Foreign investment has helped Australia become the world’s 13th largest economy, with 25 years of uninterrupt ...
... OUTCOMES: INVESTMENT BENEFITS OF FOREIGN INVESTMENT TO AUSTRALIA As a large country with a relatively small population, Australia relies on foreign investment to supplement domestic capital. Foreign investment has helped Australia become the world’s 13th largest economy, with 25 years of uninterrupt ...
P a g e 1
... It's nothing new that some banks in the euro area are suffering from weak profitability. ...
... It's nothing new that some banks in the euro area are suffering from weak profitability. ...
HOW THE FLAWS OF BASEL II LED TO THE COLLAPSE OF BEAR
... advocates of this position assert that investment banks should be subject to the same regulatory oversight as any other business.16 Such oversight is often relaxed or entirely nonexistent. Nonetheless, every nation in the world subjects investment banks to some form of advanced regulatory supervisio ...
... advocates of this position assert that investment banks should be subject to the same regulatory oversight as any other business.16 Such oversight is often relaxed or entirely nonexistent. Nonetheless, every nation in the world subjects investment banks to some form of advanced regulatory supervisio ...
Financialization and the Crises of Capitalism
... Figure 3 presents net dividend and net interest payments as a share of net operating surplus for US non-financial corporations, 1960-2010. Starting in the 1980s and 1990s, managers increasingly distributed corporate profits to shareholders in the form of dividend payments. Until the mid-1980s, divid ...
... Figure 3 presents net dividend and net interest payments as a share of net operating surplus for US non-financial corporations, 1960-2010. Starting in the 1980s and 1990s, managers increasingly distributed corporate profits to shareholders in the form of dividend payments. Until the mid-1980s, divid ...
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.