NBER WORKING PAPER SERIES CURRENT ACCOUNT FACT AND FICTION David Backus Espen Henriksen
... adjustment, and the way in which the burden of adjustment is allocated across Europe and Asia all have enormous implications for global exchange rates. Each scenario for returning to balance poses, in turn, its own risks to financial markets and to general economic stability. ... In our view, any s ...
... adjustment, and the way in which the burden of adjustment is allocated across Europe and Asia all have enormous implications for global exchange rates. Each scenario for returning to balance poses, in turn, its own risks to financial markets and to general economic stability. ... In our view, any s ...
The IMF and the Brazilian Crisis
... dollar and the U.S. dollar would then be pegged to gold. The only reason to adjust the rates was in order to fix a ‘fundamental equilibrium’ and only with the IMF’s consent. This system is also known as the Bretton Woods system. After the war European and Japanese economies recovered and wanted to r ...
... dollar and the U.S. dollar would then be pegged to gold. The only reason to adjust the rates was in order to fix a ‘fundamental equilibrium’ and only with the IMF’s consent. This system is also known as the Bretton Woods system. After the war European and Japanese economies recovered and wanted to r ...
8k New Director Corlett - Preformed Line Products
... On October 27, 2004, the Board of Directors of Preformed Line Products Company (the “Company”) elected a new Director, Glenn E. Corlett, whose term will end at the 2005 annual meeting of shareholders. There are no arrangements or understandings between Mr. Corlett and any other person pursuant to wh ...
... On October 27, 2004, the Board of Directors of Preformed Line Products Company (the “Company”) elected a new Director, Glenn E. Corlett, whose term will end at the 2005 annual meeting of shareholders. There are no arrangements or understandings between Mr. Corlett and any other person pursuant to wh ...
Real exchange rates and international co-movement: news
... We develop a two-country, complete-market model with non-tradables that is able to reconcile these facts in a theoretical economy driven by sectoral productivity shocks. The main contribution of our work is to propose an alternative explanation to the Backus-Smith puzzle based on two main channels: ...
... We develop a two-country, complete-market model with non-tradables that is able to reconcile these facts in a theoretical economy driven by sectoral productivity shocks. The main contribution of our work is to propose an alternative explanation to the Backus-Smith puzzle based on two main channels: ...
international money transfer service is provided by bpn in
... a license to use the Western Union® brand.International Money Transfer transactions can be sent and picked up at most locations of Western Union agents, partners or representatives (collectively “Partners”) worldwide. Some locations are open 24 hours. 2. Regular money transfers are usually available ...
... a license to use the Western Union® brand.International Money Transfer transactions can be sent and picked up at most locations of Western Union agents, partners or representatives (collectively “Partners”) worldwide. Some locations are open 24 hours. 2. Regular money transfers are usually available ...
Does it matter how aggregates are measured?
... for the period prior to the single currency. Because member countries previously had separate currencies susceptible to revaluations and devaluations, aggregate time-series data for the Euro area do not exist, and have to be created from the individual countries’ records.1 There are four main aggreg ...
... for the period prior to the single currency. Because member countries previously had separate currencies susceptible to revaluations and devaluations, aggregate time-series data for the Euro area do not exist, and have to be created from the individual countries’ records.1 There are four main aggreg ...
Fall 2013
... Output can be used for consumption, investment ( it ) or government purchases ( gt ). Investment in period t becomes productive capital one period later, kt 1 (1 )kt it . Government spending is an exogenous random variable that, like the technology shock, follows a first order autoregressiv ...
... Output can be used for consumption, investment ( it ) or government purchases ( gt ). Investment in period t becomes productive capital one period later, kt 1 (1 )kt it . Government spending is an exogenous random variable that, like the technology shock, follows a first order autoregressiv ...
Securities and Exchange Board of India
... (a) "Single Clearing Price” is the price at which the shares are allocated to the successful bidders in a proportionate basis methodology. (b) “Multiple Clearing Prices” are the prices at which the shares are allocated to the successful bidders in a price priority methodology. (c) “Indicative Price” ...
... (a) "Single Clearing Price” is the price at which the shares are allocated to the successful bidders in a proportionate basis methodology. (b) “Multiple Clearing Prices” are the prices at which the shares are allocated to the successful bidders in a price priority methodology. (c) “Indicative Price” ...
NBER WORKING PAPER SERIES FRANCE AND THE BRETFON WOODS Michael D. Bordo
... mechanism to facilitate clearings, a depository for the collateral, and a place for international consultation.4 This plan was considered a first step toward a return to a gold standard because of the link between the dollar and gold. By pegging their currencies in terms of dollars. gold could be us ...
... mechanism to facilitate clearings, a depository for the collateral, and a place for international consultation.4 This plan was considered a first step toward a return to a gold standard because of the link between the dollar and gold. By pegging their currencies in terms of dollars. gold could be us ...
S h o u l d u n c... l e s s ? Chris Salmon and Ben Martin,
... interpretation, policy should be adjusted in response to deviations of forecast inflation from target. But as everyone knows forecasting is an uncertain business. The Bank of England’s response has been to publish a fan chart for the inflation forecast in each report since February 1996, conditional ...
... interpretation, policy should be adjusted in response to deviations of forecast inflation from target. But as everyone knows forecasting is an uncertain business. The Bank of England’s response has been to publish a fan chart for the inflation forecast in each report since February 1996, conditional ...
currency crises, capital-account liberalization, and selection bias
... the real exchange rate for all of the developing countries in their sample against the U.S. dollar. In defining the effective rate in terms of the three major nations likely to be main trading partners of most developing countries, our approach provides a broader measure than these other studies and ...
... the real exchange rate for all of the developing countries in their sample against the U.S. dollar. In defining the effective rate in terms of the three major nations likely to be main trading partners of most developing countries, our approach provides a broader measure than these other studies and ...
External Stability, Real Exchange Rate
... stability encompasses both the current and the capital account of the balance of payments, because CA imbalances may not cause disruptive exchange rate movements if they are complemented by sustainable capital inflows or outflows. In practice, however, the focus is primarily on CA imbalances and rea ...
... stability encompasses both the current and the capital account of the balance of payments, because CA imbalances may not cause disruptive exchange rate movements if they are complemented by sustainable capital inflows or outflows. In practice, however, the focus is primarily on CA imbalances and rea ...
Transition to Market Economies in Asia
... At the same time, most Asian transitional economies were able to take advantage of their close geographical proximity to the dynamic economies of East Asia (Japan, the Asian NIES and ASEAN). The merits of this are especially apparent in China and Vietnam. After the adoption of open-door policies, Ch ...
... At the same time, most Asian transitional economies were able to take advantage of their close geographical proximity to the dynamic economies of East Asia (Japan, the Asian NIES and ASEAN). The merits of this are especially apparent in China and Vietnam. After the adoption of open-door policies, Ch ...
Government Sector
... is approaching a dangerous zone (low FX reserves, risk of “dollarization”, heavy reliance on short term and volatile external capital flows, level of investment too low or too high, high budget deficit ….). - By performing scenario analyses: “What if ….” - Investors are losing confidence in the econ ...
... is approaching a dangerous zone (low FX reserves, risk of “dollarization”, heavy reliance on short term and volatile external capital flows, level of investment too low or too high, high budget deficit ….). - By performing scenario analyses: “What if ….” - Investors are losing confidence in the econ ...
mmi06 vanAarle 1941819 en
... inflation spillovers affect domestic prices via the price of imported raw-, intermediate and final goods used in the domestic production process. The strength of the foreign inflation and depreciation spillovers, depends not only on the intensity with which foreign goods are absorbed but also on the ...
... inflation spillovers affect domestic prices via the price of imported raw-, intermediate and final goods used in the domestic production process. The strength of the foreign inflation and depreciation spillovers, depends not only on the intensity with which foreign goods are absorbed but also on the ...
Banker for the World: Global Capital and America`s Financialization
... Banker for the World: Global Capital and America’s Financialization changes in practice had been broadly adopted. Moreover, the process of regulatory change was initiated in a peripheral and largely rural state rather than in a major banking center. The 1999 Gramm-Leach-Bliley Act, which eliminated ...
... Banker for the World: Global Capital and America’s Financialization changes in practice had been broadly adopted. Moreover, the process of regulatory change was initiated in a peripheral and largely rural state rather than in a major banking center. The 1999 Gramm-Leach-Bliley Act, which eliminated ...
Lecture15 - UCSB Economics
... 1. foreigners sell their US securities 2. foreigners exchange their US $ proceeds for Yen 3. Supply of dollars shifts and price of the dollar falls ...
... 1. foreigners sell their US securities 2. foreigners exchange their US $ proceeds for Yen 3. Supply of dollars shifts and price of the dollar falls ...
This PDF is a selection from a published volume from... Research Volume Title: International Dimensions of Monetary Policy
... dynamics from currency volatility, thus helping central banks maintain a low and stable headline inflation. On the other hand, stable import prices and low exchange rate pass-through can also stem from nominal frictions impeding desired markup adjustment, thus interfering with equilibrium movements ...
... dynamics from currency volatility, thus helping central banks maintain a low and stable headline inflation. On the other hand, stable import prices and low exchange rate pass-through can also stem from nominal frictions impeding desired markup adjustment, thus interfering with equilibrium movements ...
The Libyan Asset Freeze and Its Application to Foreign Government
... 7. See Hoffman & Giddy, Lessons from the Iranian Experience: National Currencies as InternationalMoney, 3 J. COMP. CORP. L. & SEC. REG. 73, 76 (1981) (defining a Eurodollar account as a dollar-denominated bank deposit held in a bank outside the United States). 8. See Exec. Order No. 12,170, 3 C.F.R. ...
... 7. See Hoffman & Giddy, Lessons from the Iranian Experience: National Currencies as InternationalMoney, 3 J. COMP. CORP. L. & SEC. REG. 73, 76 (1981) (defining a Eurodollar account as a dollar-denominated bank deposit held in a bank outside the United States). 8. See Exec. Order No. 12,170, 3 C.F.R. ...
Cuba and Vietnam after the Collapse of the Soviet Union
... trading system, Viet Nam’s economy was quite closed to international trade, with the average of exports and imports accounting for less than ten percent of GDP. From this low base, it was possible to expand exports dramatically in the short run, as discussed below. On the other hand, trade accounte ...
... trading system, Viet Nam’s economy was quite closed to international trade, with the average of exports and imports accounting for less than ten percent of GDP. From this low base, it was possible to expand exports dramatically in the short run, as discussed below. On the other hand, trade accounte ...
current politics and economics of europe
... belief that a fixed exchange rate would: (a) best serve the nations of Europe after the collapse of the Bretton Woods system of fixed exchange rates; and (b) facilitate Europe’s most central unified policy, the Common Agricultural Policy (CAP). The immediate result was the ‘snake’ – a system of fixe ...
... belief that a fixed exchange rate would: (a) best serve the nations of Europe after the collapse of the Bretton Woods system of fixed exchange rates; and (b) facilitate Europe’s most central unified policy, the Common Agricultural Policy (CAP). The immediate result was the ‘snake’ – a system of fixe ...
Market Makers
... 614D. A Market Maker wishing to conduct Options Hedging Short Selling shall notify the Exchange of its intention. A Market Maker may also apply to the Exchange to register one or more Exchange Participants as its Options Hedging Participants which will conduct on its behalf Options Hedging Transact ...
... 614D. A Market Maker wishing to conduct Options Hedging Short Selling shall notify the Exchange of its intention. A Market Maker may also apply to the Exchange to register one or more Exchange Participants as its Options Hedging Participants which will conduct on its behalf Options Hedging Transact ...
Pass-through of exchange rates and import prices to domestic
... expressed concern that as emerging market economies have recovered from the 199798 crisis, the resulting higher import prices have led to greater in‡ationary pressures in the industrialized economies. In fact, the European Central Bank has cited the possible in‡ationary e¤ects of the weak euro as o ...
... expressed concern that as emerging market economies have recovered from the 199798 crisis, the resulting higher import prices have led to greater in‡ationary pressures in the industrialized economies. In fact, the European Central Bank has cited the possible in‡ationary e¤ects of the weak euro as o ...