THE RISE OF GERMAN PROTECTIONISM IN THE 1870S: A
... indemnity imposed by Bismarck on France following the 1870-1 Franco-Prussian War. The war indemnity, in essence a very large capital inflow, translated into a massive monetary and fiscal stimulus. This led in turn to fast growth, price inflation and other symptoms that are typically observed in epis ...
... indemnity imposed by Bismarck on France following the 1870-1 Franco-Prussian War. The war indemnity, in essence a very large capital inflow, translated into a massive monetary and fiscal stimulus. This led in turn to fast growth, price inflation and other symptoms that are typically observed in epis ...
Regional Economic Outlook: Western Hemisphere
... levels. Indeed some in Europe face market pressures and the need for substantial upfront fiscal action. In that context, policy interest rates in major reserve currency economies are likely to remain very low for quite some time, pushing private capital to the most attractive emerging economies and ...
... levels. Indeed some in Europe face market pressures and the need for substantial upfront fiscal action. In that context, policy interest rates in major reserve currency economies are likely to remain very low for quite some time, pushing private capital to the most attractive emerging economies and ...
Intra-day Seasonality in Activities of the Foreign Exchange Markets:
... global financial institutions are investing millions of dollars to build a real-time computer trading scheme. High-frequency, reliable data are the key in finding robust results for researchers or profitable schemes for businesses. The objective of this paper is to analyze intra-day patterns, or sea ...
... global financial institutions are investing millions of dollars to build a real-time computer trading scheme. High-frequency, reliable data are the key in finding robust results for researchers or profitable schemes for businesses. The objective of this paper is to analyze intra-day patterns, or sea ...
View/Open
... investigates the nature of different shocks (policy and non-policy shocks) on the current account to see whether the effect of these shocks dies out as the time passes, allowing the current account variable to revert back to some long trend following these shocks, or not. In other words, we will loo ...
... investigates the nature of different shocks (policy and non-policy shocks) on the current account to see whether the effect of these shocks dies out as the time passes, allowing the current account variable to revert back to some long trend following these shocks, or not. In other words, we will loo ...
Extreme Inflation: Dynamics and Stabilization
... policymakersmay offset the shock by corrective monetary and fiscal policies, ratherthan remainpassive or accommodatethe disturbance. Althoughsuch policies may slow growth,even to the pointof recession, they surelystandin the way of acceleratinginflation.Second, institutions may also enact stabilizin ...
... policymakersmay offset the shock by corrective monetary and fiscal policies, ratherthan remainpassive or accommodatethe disturbance. Althoughsuch policies may slow growth,even to the pointof recession, they surelystandin the way of acceleratinginflation.Second, institutions may also enact stabilizin ...
Final Year Project Template - Global Institute of Management and
... QDII① program to utilize the huge volume of foreign reserves to invest globally. ...
... QDII① program to utilize the huge volume of foreign reserves to invest globally. ...
Uncollateralized Overnight Loans Settled in LVTS
... their own clients (i.e. term deposit receipts) since these loans are not settled through LVTS. Overnight financing instruments that require an exchange of securities (i.e. repos) are not captured in our data because these transactions are cleared through a separate system operated by the Canadian De ...
... their own clients (i.e. term deposit receipts) since these loans are not settled through LVTS. Overnight financing instruments that require an exchange of securities (i.e. repos) are not captured in our data because these transactions are cleared through a separate system operated by the Canadian De ...
Full Text ( Final Version , 158kb )
... independent countries that also use another nation´s currency1. Furthermore, an important reason is that the country on one hand lacks of monetary and exchange rate policy as an instrument to adjust the economy, but on the other hand, presents a strong dependence on revenues -oil exportation and per ...
... independent countries that also use another nation´s currency1. Furthermore, an important reason is that the country on one hand lacks of monetary and exchange rate policy as an instrument to adjust the economy, but on the other hand, presents a strong dependence on revenues -oil exportation and per ...
The Transmission of Oil and Food Prices to Consumer Prices
... importers. Due to strong population growth, the vulnerabilities will likely increase in the future. The region is the most food import dependent region in the world. Food dependency ratios, i.e. net imports over private consumption exceed 50 percent on average, with substantial variation across coun ...
... importers. Due to strong population growth, the vulnerabilities will likely increase in the future. The region is the most food import dependent region in the world. Food dependency ratios, i.e. net imports over private consumption exceed 50 percent on average, with substantial variation across coun ...
FIVE RECENT PARADOXES AND ANOMALIES OF ECONOMICS
... issues. The first one is concerned with the thesis that stability is a necessary though not a sufficient precondition for achieving high growth. The second issue is concerned with the thesis that the stabilisation policies adopted for realising high growth have themselves generated the crisis of gro ...
... issues. The first one is concerned with the thesis that stability is a necessary though not a sufficient precondition for achieving high growth. The second issue is concerned with the thesis that the stabilisation policies adopted for realising high growth have themselves generated the crisis of gro ...
Non-price competitiveness of exports from - ECB
... Such a rapid growth of exports cannot be explained by price factors only, i.e. assessing export performance of an emerging country by looking solely at its real effective exchange rate dynamics will clearly fall short of providing a satisfactory explanation and is not able to explain recent gains in ...
... Such a rapid growth of exports cannot be explained by price factors only, i.e. assessing export performance of an emerging country by looking solely at its real effective exchange rate dynamics will clearly fall short of providing a satisfactory explanation and is not able to explain recent gains in ...
Financialization and a New Paradigm for Financial Markets
... investment back in the pipeline whenever they wish to, in exchange for cash or replacement investments. The investments are said to be liquid. Liquidity is thought of as a major advantage for investors, one that can make capital less expensive for productive users of funds raised in the primary mark ...
... investment back in the pipeline whenever they wish to, in exchange for cash or replacement investments. The investments are said to be liquid. Liquidity is thought of as a major advantage for investors, one that can make capital less expensive for productive users of funds raised in the primary mark ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... their poor export performance, leading to sluggish expansion of trade. An exception to prove the rule was Brazil from 1967 to 1974, when swiftly rising exports led to an extraordinary growth of GDP. The sluggishness elsewhere contrasts sharply with the spectacular export increase achieved by East As ...
... their poor export performance, leading to sluggish expansion of trade. An exception to prove the rule was Brazil from 1967 to 1974, when swiftly rising exports led to an extraordinary growth of GDP. The sluggishness elsewhere contrasts sharply with the spectacular export increase achieved by East As ...
Kueh(205)..pdf
... currency subsequently lowers the capital requirements of foreign investments and enabling the Malaysian firms to gain capital easier. On the other hand, as the Ringgit Malaysia suffered steep depreciation from RM2.60/USD in July 1997 to RM4.70/USD in January 1998, the pegging of Ringgit Malaysia aga ...
... currency subsequently lowers the capital requirements of foreign investments and enabling the Malaysian firms to gain capital easier. On the other hand, as the Ringgit Malaysia suffered steep depreciation from RM2.60/USD in July 1997 to RM4.70/USD in January 1998, the pegging of Ringgit Malaysia aga ...
The Political Economy of Persistent Current Account Imbalances
... Some prefer consumption today, others postpone it to the future. In several papers, Kraay and Ventura (2000; 2003) build on this model to explain how countries react to income shocks by investing partly at home and partly abroad. 2 Despite criticism from many sides (Obstfeld, 2010) that US monetary ...
... Some prefer consumption today, others postpone it to the future. In several papers, Kraay and Ventura (2000; 2003) build on this model to explain how countries react to income shocks by investing partly at home and partly abroad. 2 Despite criticism from many sides (Obstfeld, 2010) that US monetary ...
Oil Prices and the Value of US Dollar: Theoretical Investigation and
... position.” (Coudert, Mihnon and Penot, 2008) In the same link (Amano and van Norden, 1998) examined whether a link exists between oil price shocks and the U.S. real effective exchange rate. They used the single-equation error correction and find that the two variables appear to be cointegrated and t ...
... position.” (Coudert, Mihnon and Penot, 2008) In the same link (Amano and van Norden, 1998) examined whether a link exists between oil price shocks and the U.S. real effective exchange rate. They used the single-equation error correction and find that the two variables appear to be cointegrated and t ...
PDF
... between the terms of trade and real exchange rate. Some studies have utilised commodity exports as a proxy for the terms of trade on the basis that most shocks come from this component within the terms of trade. In chronological order some key studies include: Clements and Freebairn (1990) – An anal ...
... between the terms of trade and real exchange rate. Some studies have utilised commodity exports as a proxy for the terms of trade on the basis that most shocks come from this component within the terms of trade. In chronological order some key studies include: Clements and Freebairn (1990) – An anal ...
Box 3 The Central Bank of Iceland forecasting record
... March 2001, when the inflation target was adopted. Inflation forecasts for the first quarter of the forecast horizon showed no tendency towards either over- or underforecasting. Forecasting errors can generally be expected to increase as forecasts extend further ahead in time. One- and two-year fore ...
... March 2001, when the inflation target was adopted. Inflation forecasts for the first quarter of the forecast horizon showed no tendency towards either over- or underforecasting. Forecasting errors can generally be expected to increase as forecasts extend further ahead in time. One- and two-year fore ...
View/Open
... The second class of definitions is based on changes in the real exchange rate and foreign reserves. For example, Eichengreen et al. (1995) define a currency crisis to include both the large depreciation and also speculative attacks that are successfully warded off by the authorities. They construct ...
... The second class of definitions is based on changes in the real exchange rate and foreign reserves. For example, Eichengreen et al. (1995) define a currency crisis to include both the large depreciation and also speculative attacks that are successfully warded off by the authorities. They construct ...
latin american - Alfaro
... economy had been expected to grow by over 4 percent in 2004, led by exports and construction. But new economic figures released on November 30 showed that growth in the third quarter was well under expectations. Ecuador and Peru share Colombia’s border, and some of its economic growth. Growth in Per ...
... economy had been expected to grow by over 4 percent in 2004, led by exports and construction. But new economic figures released on November 30 showed that growth in the third quarter was well under expectations. Ecuador and Peru share Colombia’s border, and some of its economic growth. Growth in Per ...
China`s evolving external wealth and rising creditor position, July 2009
... China is likely to remain a net lender in the next two decades. This conclusion stands in contrast to the predictions of Dollar and Kraay (2006), which suggest that China will within two decades turn into a large debtor, and are broadly consistent with the medium- and longterm predictions of McKibbi ...
... China is likely to remain a net lender in the next two decades. This conclusion stands in contrast to the predictions of Dollar and Kraay (2006), which suggest that China will within two decades turn into a large debtor, and are broadly consistent with the medium- and longterm predictions of McKibbi ...
The Gold Standard, the Euro, and the Debt Crisis
... lower nominal interest rates and longer economic horizons, thereby encouraging private investment and economic growth. The elimination of nominal exchange-rate fluctuations among the former currencies of members of the eurozone was expected to reduce exchange rate uncertainty and risk premia, loweri ...
... lower nominal interest rates and longer economic horizons, thereby encouraging private investment and economic growth. The elimination of nominal exchange-rate fluctuations among the former currencies of members of the eurozone was expected to reduce exchange rate uncertainty and risk premia, loweri ...
PDF
... differ markedly will there be the need for distinctive national macroeconomic policies and may the constraints of monetary union bind. These are not, of course, the only factors influencing the choice of international monetary arrangements. Mundell (1961) himself emphasized also the importance of fa ...
... differ markedly will there be the need for distinctive national macroeconomic policies and may the constraints of monetary union bind. These are not, of course, the only factors influencing the choice of international monetary arrangements. Mundell (1961) himself emphasized also the importance of fa ...
