Non-Wasteful Government Spending in an Estimated Open
... exchange rate in the context of Japanese …scal policy. Japan’s current account surplus position is considered to have helped maintain stability in the Japanese Government Bond (JGB) market, despite the high level of government debt.9 If expansionary …scal policy appreciates the real exchange rate an ...
... exchange rate in the context of Japanese …scal policy. Japan’s current account surplus position is considered to have helped maintain stability in the Japanese Government Bond (JGB) market, despite the high level of government debt.9 If expansionary …scal policy appreciates the real exchange rate an ...
The growth of house prices in Australian capital cities
... markets have occurred, eg. Adelaide, Hobart and Darwin showed little evidence of a boom in prices in the late 1980s. Despite a high level of interest in the behaviour of property markets, there appears to be no general consensus about what factors are the main causes of fluctuations in residential p ...
... markets have occurred, eg. Adelaide, Hobart and Darwin showed little evidence of a boom in prices in the late 1980s. Despite a high level of interest in the behaviour of property markets, there appears to be no general consensus about what factors are the main causes of fluctuations in residential p ...
How the Economic Machine Works – Leveragings and
... spending (i.e. total $ funded by the rates of growth in money and credit) being faster than the rate of growth in the capacity to produce (i.e. total Q) leading to price (P) increases until b) the rate of growth in spending is curtailed by tight money and credit, at which time a recession occurs. In ...
... spending (i.e. total $ funded by the rates of growth in money and credit) being faster than the rate of growth in the capacity to produce (i.e. total Q) leading to price (P) increases until b) the rate of growth in spending is curtailed by tight money and credit, at which time a recession occurs. In ...
What Have we Learnt about Monetary Integration
... Mundell II, asymmetric shocks A number of countries in EMU have recently experienced large losses of competitiveness: an asymmetric shock • The Great Recession of 2008 was an asymmetric shock • This phenomenon will lead to the need to adjust in many countries.2 In particular, the countries that hav ...
... Mundell II, asymmetric shocks A number of countries in EMU have recently experienced large losses of competitiveness: an asymmetric shock • The Great Recession of 2008 was an asymmetric shock • This phenomenon will lead to the need to adjust in many countries.2 In particular, the countries that hav ...
Macroeconomic variables and stock market: US review
... more attention only after 1986. Macroeconomic factors with an impact on share prices are e.g. interest rates, inflation, GDP, money supply (stock), flow of international capital, foreign exchange rates and political and economic shocks, as said by Veselá (2010). Kohout (2010) believes that the most ...
... more attention only after 1986. Macroeconomic factors with an impact on share prices are e.g. interest rates, inflation, GDP, money supply (stock), flow of international capital, foreign exchange rates and political and economic shocks, as said by Veselá (2010). Kohout (2010) believes that the most ...
Adaptive Learning and Survey Data
... An important exception is work by Keane and Runkle (1990), which fails to reject the rational expectations hypothesis. ...
... An important exception is work by Keane and Runkle (1990), which fails to reject the rational expectations hypothesis. ...
Free Full text
... The purpose of this paper is to examine the inflation dynamics in Malawi quantitatively, with a focus on the pass-through of exchange rate and policy-related determinants of headline inflation. Malawi’s economy is dominated by rain-fed agriculture which accounts for 30 percent of GDP, and food infla ...
... The purpose of this paper is to examine the inflation dynamics in Malawi quantitatively, with a focus on the pass-through of exchange rate and policy-related determinants of headline inflation. Malawi’s economy is dominated by rain-fed agriculture which accounts for 30 percent of GDP, and food infla ...
Slide 1
... The last 19 years have been full of turmoil from the economic and financial point of view. Considering the number of financial crises that have taken place and the unfolding of the current financial crisis that began in 2007, I considered the phenomenon of Sudden Stop an important issue, especially ...
... The last 19 years have been full of turmoil from the economic and financial point of view. Considering the number of financial crises that have taken place and the unfolding of the current financial crisis that began in 2007, I considered the phenomenon of Sudden Stop an important issue, especially ...
The Yen and Its East Asian Neighbors 1980
... that the rupiah and the peso are both managed tightly in terms of their U.S. dollar exchange rates over a short time horizon, while they have shown significant trend depreciation over a longer horizon (table 7.2); their exchange rate systems may more appropriately be classified as crawling pegs to t ...
... that the rupiah and the peso are both managed tightly in terms of their U.S. dollar exchange rates over a short time horizon, while they have shown significant trend depreciation over a longer horizon (table 7.2); their exchange rate systems may more appropriately be classified as crawling pegs to t ...
A Model of the Twin Ds: Optimal Default and Devaluation ∗ S. Na
... of the economy reaches 20 percent of the labor force. Further, the model predicts that economies whose currencies are pegged can support significantly less external debt than economies in which the exchange rate floats optimally. The reason is that in fixed-exchange rate economies the incentives to ...
... of the economy reaches 20 percent of the labor force. Further, the model predicts that economies whose currencies are pegged can support significantly less external debt than economies in which the exchange rate floats optimally. The reason is that in fixed-exchange rate economies the incentives to ...
Trade Liberalization: Why So Much Controversy?
... Many developing countries pursued import substitution industrialization strategies in the three decades that followed World War II, but by the mid-1980s, most developing countries were seeking to reduce their import protection and liberalize trade. Three developments had raised doubts about the long ...
... Many developing countries pursued import substitution industrialization strategies in the three decades that followed World War II, but by the mid-1980s, most developing countries were seeking to reduce their import protection and liberalize trade. Three developments had raised doubts about the long ...
Obstfeld Working Paper No. 1692
... return must b e based, not on a comparison of Eurocurrenc y rates, but on a comparison of nominal yi elds on 'onshore" and "offshor e" assets denominated i n the same cu rrency——for example, large dol lar certi ficates ...
... return must b e based, not on a comparison of Eurocurrenc y rates, but on a comparison of nominal yi elds on 'onshore" and "offshor e" assets denominated i n the same cu rrency——for example, large dol lar certi ficates ...
I F M What Is the
... because both the Danish and Japanese governments are committed to the convertibility of their respective currencies. Neither country restricts the exchange of its national currency into another national money, and this greatly facilitates international trade. Fortunately, widespread convertibility n ...
... because both the Danish and Japanese governments are committed to the convertibility of their respective currencies. Neither country restricts the exchange of its national currency into another national money, and this greatly facilitates international trade. Fortunately, widespread convertibility n ...
Zimbabwe: Challenges and Policy Options after Hyperinflation African Department 10/3
... U.S. dollars, and the banking system and the Reserve Bank of Zimbabwe (RBZ) maintain accounting in U.S. dollars. In cash transactions, the U.S. dollar is the currency of choice, but the rand is prevalent in the South of the country, and it also circulates in the rest of the country, in particular co ...
... U.S. dollars, and the banking system and the Reserve Bank of Zimbabwe (RBZ) maintain accounting in U.S. dollars. In cash transactions, the U.S. dollar is the currency of choice, but the rand is prevalent in the South of the country, and it also circulates in the rest of the country, in particular co ...
The Transmission of Monetary Policy in Canada
... changes in interest rates and the exchange rate? And how will inflation and inflation expectations react to these actions? What can the central bank do to reduce uncertainty? First, it can try to reduce the uncertainty of the public and of financial markets about its responses to the various shocks. ...
... changes in interest rates and the exchange rate? And how will inflation and inflation expectations react to these actions? What can the central bank do to reduce uncertainty? First, it can try to reduce the uncertainty of the public and of financial markets about its responses to the various shocks. ...
3) The unemployment rate minus cyclical unemployment
... wages which leads to short run disequilibrium. 33) c. Real business cycle theory uses the idea of supply shocks. 34) d. Government spending is a demand change (coriorgornx) which can be utilized by Keynesian or Misperception theory ...
... wages which leads to short run disequilibrium. 33) c. Real business cycle theory uses the idea of supply shocks. 34) d. Government spending is a demand change (coriorgornx) which can be utilized by Keynesian or Misperception theory ...
A Study of the J-Curve for Seven Selected Latin American Countries
... recent real appreciation from 84.89 to 103.65 hurt net exports significantly. Our investigation shows that there is lack of evidence of a J-curve for Colombia due to positive adjustments in the short run and negative adjustments in the long run. Other countries show different responses of the trade ...
... recent real appreciation from 84.89 to 103.65 hurt net exports significantly. Our investigation shows that there is lack of evidence of a J-curve for Colombia due to positive adjustments in the short run and negative adjustments in the long run. Other countries show different responses of the trade ...
conditions for documentary credits.
... Unless otherwise instructed, all charges and fees are to be paid by the party initiating the transaction. If necessary, charges expressed in euro will be converted into foreign currency at the prevailing rates of exchange. Correspondent’s charges are credited additionally unless otherwise agreed. Ou ...
... Unless otherwise instructed, all charges and fees are to be paid by the party initiating the transaction. If necessary, charges expressed in euro will be converted into foreign currency at the prevailing rates of exchange. Correspondent’s charges are credited additionally unless otherwise agreed. Ou ...
Jacob A. Frenkel Joshua Aizenman Working Paper No. 1329
... brium. Thus, it is shown that with a sufficient number of feedback rules for monetary policy there may be no need to introduce wage indexation. By the same token it is also shown that an economy that is not able to choose freely an exchange rate regime can still eliminate the welfare loss by supplem ...
... brium. Thus, it is shown that with a sufficient number of feedback rules for monetary policy there may be no need to introduce wage indexation. By the same token it is also shown that an economy that is not able to choose freely an exchange rate regime can still eliminate the welfare loss by supplem ...
NIGERIA Financial Services Cluster Analysis and Recommendations
... agriculture, accounting for approximately 35% of GDP. A large portion of this is subsistence farming ...
... agriculture, accounting for approximately 35% of GDP. A large portion of this is subsistence farming ...