Balance of Trade
... however, the country has run large annual trade deficits,
peaking at $753 billion — 5.6 percent of GDP — in 2006.
Falling imports brought the deficit to a nineyear low of $381 billion during the 2007-09
recession, but the gap widened to $560 billion in 2011. Rising oil prices added about
$100 billio ...
Final accounts of non trading organisation
... Total subscription received during the year
Add=subscription received in advance at the
beginning of year
Add=subscription outstanding at the end of
Less=subscription received in advance at the
end of year
Less= subscription outstanding at the
beginning of the year.
INDONESIA UNDER EMBARGO UNTIL 07.00 GMT, WEDNESDAY, 6 AUGUST 2014
... To restore the current account surplus, the Government provided tax breaks to labour-intensive
industries that export at least 30% of their production while increasing taxes on luxury goods
imports. The fuel subsidy cut in mid-2013 also constrained the import bill, despite triggering high
Ashoka Mody Franziska Ohnsorge Damiano Sandri 22 February 2012
... In doing so, we follow the large consumption and saving literature and interpret our regressors as
reasonable determinants of household saving rates.
Concerns about endogeneity cannot be dismissed. For example, there might be some reverse
causality from savings to unemployment, in so far as an exoge ...
Long Term Outlook for the Economy
... • Other problems, such as Credit Default Swaps
($62 trillion last year, now $30+ trillion) are much
• The Credit Crisis is a major de-leveraging of the
financial excesses that have built up in the last 30
years. It should take at least a decade to fix.
march market commentary
... The risk of a mild recession - especially in the US - early in 2008 has increased but on balance appears unlikely and we expect GDP of around 2% for the industrialised
economies. Moderating growth in the developing world means current inflationary pressures should abate. Central banks are primed to ...
How far we`ve come, how little we`ve changed
... We believe the result of the Fed’s action may be higher prices and higher interest rates in the near future. With
the money supply and credit having doubled without a commensurate increase in output (gross domestic product)
we believe prices will adjust upward due to more dollars chasing the same am ...
Rodrigo de RATO Y FIGAREDO
... neighbors but also beggar their own people. And
it is no coincidence that economic depression in
the inter-war period both fed and was fueled by
a resurgence of nationalism. We live today in an
internationally integrated, globalized world, but we
are not immune from nationalism. You can see it
in so ...
... • 2004 home ownership rate peaked an all
time high of 70%
• Individuals began using homes as an
• Federal Reserve Interest rate increase
offset by countries like Germany, Japan
In chapter 1 we discussed in broad outline some of the institutions
... penalty of law, for the correctness of the accounting statements. More reform is
possible including the structure that accounting firms should not act both as
consultants and auditor.
The real consequences of the crisis for the US economy are at the present hard
to fathom. The flight of investors fr ...
... » Tail risk of break-up/FRAGEMTATION appears very low
» Euro zone recovery VERY SLOW in light of persistently high unemployment and
» Greece is moving into recovery, encouraging market optimism and foreign
CONSOLIDATED PRIVATE DEBT, % OF GDP
EUROSTAT MACROECONOMICS I ...
STATEMENT TO PARLIAMENTARY COMMITTEE
... in international credit markets in coming to our decision. Here, Mr Chairman, it is worth taking
a few moments to set out some history.
For some years now, many long-term observers, market participants and officials have been
troubled by very narrow pricing for risk. In other words, it has been easi ...
Transmission mechanism of monetary policy
... Affects saving and investment decisions
Changes in interest rates affect saving and investment decisions of households and firms. For example,
everything else being equal, higher interest rates make it less attractive to take out loans for financing
consumption or investment.
In addition, consumptio ...
Should the Riksbank issue e-krona?
... Should the Riksbank issue e-krona?
• The printing press made it possible to print
banknotes in its time – our current technology
enables electronic payments
• E-krona – a complement to banknotes and
coins – not intended to replace them
Curriculum at a Glance Personal Finance Grade 9
... Explore how spending, saving and values impact your finances.
Set financial goals that are specific and measurable.
Apply strategies to be mindful about spending decisions.
Create a spending plan to reach your goals.
Figure out ways to maintain a positive cash flow
Chapter 9: Sources of Capital
... health of the economy.
The SAVINGS RATE is
the percentage of
income that is not
Tells about wages
Tells about economic
Personal Finance Economics
... – Saving
• The absence of spending
• For investment to occur, people must save
» The act of redirecting resources from being consumed
today so that they may create benefits in the future.
» Saving = Investing
Global saving glut
Global saving glut (also global savings glut, GSG, cash hoarding, dead cash, dead money, glut of excess intended saving, shortfall of investment intentions), describes a situation in which desired saving exceeds desired investment. By 2005 Ben Bernanke, chairman of the Federal Reserve, the central bank of the United States, expressed concern about the ""significant increase in the global supply of saving"" and its implications for monetary policies, particularly in the United States. Although Bernanke's analyses focused on events in 2003 to 2007 that led to the 2007–2009 financial crisis, regarding GSG countries and the United States, excessive saving by the non-financial corporate sector (NFCS) is an ongoing phenomenon, affecting many countries. Bernanke's ""celebrated (if sometimes disputed)"" global saving glut (GSG) hypothesis argued that increased capital inflows to the United States from GSG countries were an important reason that U.S. longer-term interest rates from 2003 to 2007 were lower than expected.Alan Greenspan testifying at the Financial Crisis Inquiry Commission in 2010 explained, ""Whether it was a glut of excess intended saving, or a shortfall of investment intentions, the result was the same: a fall in global real long-term interest rates and their associated capitalization rates. Asset prices, particularly house prices, in nearly two dozen countries accordingly moved dramatically higher. U.S. house price gains were high by historical standards but no more than average compared to other countries.""An 2007 Organisation for Economic Co-operation and Development (OECD) report noted that the ""excess of gross saving over fixed investment (i.e. net lending) in the ""aggregate OECD corporate sector"" had been unusually large since 2002. In a 2006 International Monetary Fund report, it was observed that, ""since the bursting of the equity marketbubble in the early 2000s, companies in many industrial countries have moved from their traditional position of borrowing funds to finance their capital expenditures to running financial surpluses that they are now lending to other sectors of the economy."" David Wessell in a Wall Street Journal article observed that, ""[c]ompanies, which normally borrow other folks’ savings in order to invest, have turned thrifty. Even companies enjoying strong profits and cash flow are building cash hoards, reducing debt and buying back their own shares—instead of making investment bets."" Although the hypothesis of excess cash holdings or cash hoarding has been used by the Organisation for Economic Co-operation and Development (OECD), the International Monetary Fund and the media Wall Street Journal, Forbes, Canadian Broadcasting Corporation, the concept itself has been disputed and criticized as conceptually flawed in articles and reports published by the Hoover Institute, the Max-Planck Institute and the CATO Institute among others. Ben Bernanke used the phrase ""global savings glut"" in 2005 linking it to the U.S. current account deficit.In their July 2012 report Standard and Poors described the ""fragile equilibrium that currently exists in the global corporate credit landscape."" U.S. nonfinancial corporate sector NFCS firms continued to hoard a ""record amount of cash"" with large profitable investment-grade companies and technology and health care industries (with significant amounts of cash overseas), holding most of the wealth.By January 2013, NFCS firms in Europe had over 1 trillion euros of cash on their balance sheets, a record high in nominal terms.