trade effects of monetary agreements: evidence for oecd countries
... 1930s, policy makers thought that international monetary stability was an essential factor in order to promote trade flows. With this aim, the Bretton Woods (BW) system was created in 1944 as a mechanism to ensure international payments and exchange rate stability among national currencies facilitat ...
... 1930s, policy makers thought that international monetary stability was an essential factor in order to promote trade flows. With this aim, the Bretton Woods (BW) system was created in 1944 as a mechanism to ensure international payments and exchange rate stability among national currencies facilitat ...
Engineering Good Times: Fiscal Manipulation in a Global Economy
... an economy typified by some degree of price rigidity, i.e., all economies in practice, flexible exchange rates allow prices to adjust more quickly to international shocks. 32 This means that such shocks result in lower volatility in the domestic market when the exchange rate is flexible than when it ...
... an economy typified by some degree of price rigidity, i.e., all economies in practice, flexible exchange rates allow prices to adjust more quickly to international shocks. 32 This means that such shocks result in lower volatility in the domestic market when the exchange rate is flexible than when it ...
NBER WORKING PAPER SERIES GLOBAL ECONOMIC ARCHITECTURE
... Practically all the increase in reserves-GDP holding has taken place in developing countries, mostly concentrating in East Asia. The magnitude of the changes during the last twenty years is mind-boggling: global reserves increased from about 1 trillion US dollar in 1990, to more than 5 trillion US d ...
... Practically all the increase in reserves-GDP holding has taken place in developing countries, mostly concentrating in East Asia. The magnitude of the changes during the last twenty years is mind-boggling: global reserves increased from about 1 trillion US dollar in 1990, to more than 5 trillion US d ...
How Does the Flow of Remittances Affect the Trade
... have high-income elasticity. This suggests either that these imports are consumer durables and luxury goods or that they are undertaken by higher income groups. Conversely, Bouhga-Hagbe (2004) found in the case of Morocco that remittances almost covered the trade deficit and explained the observed s ...
... have high-income elasticity. This suggests either that these imports are consumer durables and luxury goods or that they are undertaken by higher income groups. Conversely, Bouhga-Hagbe (2004) found in the case of Morocco that remittances almost covered the trade deficit and explained the observed s ...
No.286 / March 2009 Fiscal Shocks and The Real Exchange Rate
... the same as those used in the benchmark variable. The former retrospectively includes Slovenia as an EMU country, while we exclude Slovenia from the output and fiscal measures, since its inclusion would be problematic in terms of data availability prior to the mid 1990s. ...
... the same as those used in the benchmark variable. The former retrospectively includes Slovenia as an EMU country, while we exclude Slovenia from the output and fiscal measures, since its inclusion would be problematic in terms of data availability prior to the mid 1990s. ...
Financial Market Failures and Systemic Risk
... unprecedented magnitude. For the first time, these attacks occurred without the dollar playing a major role. For the first time also, hedging strategies made an extensive use of currency options. The Lira was an early example of the new mood among currency traders. In the early 90's, after the Itali ...
... unprecedented magnitude. For the first time, these attacks occurred without the dollar playing a major role. For the first time also, hedging strategies made an extensive use of currency options. The Lira was an early example of the new mood among currency traders. In the early 90's, after the Itali ...
Corr with XReal-time
... countries from 1973 to 2006. While real-time data is not available during the post-Bretton Woods period for most of the countries, they construct output gaps as deviations from “quasi-revised” trends in potential output, where the trends, while incorporating data revisions, are updated each period s ...
... countries from 1973 to 2006. While real-time data is not available during the post-Bretton Woods period for most of the countries, they construct output gaps as deviations from “quasi-revised” trends in potential output, where the trends, while incorporating data revisions, are updated each period s ...
The Phillips Curve and the Role of Monetary
... better able to explain the persistent swings observed in the data. Juselius and Juselius (2012) give the following rationale. Under IKE, nominal interest rates exhibit strong persistence due to a nonstationary uncertainty premium, whereas in ation rates are more stable over time due to international ...
... better able to explain the persistent swings observed in the data. Juselius and Juselius (2012) give the following rationale. Under IKE, nominal interest rates exhibit strong persistence due to a nonstationary uncertainty premium, whereas in ation rates are more stable over time due to international ...
consumer confidence and economic growth
... The response of consumer confidence to a shock in GDP will initially lead to a drop in consumer confidence in the first and second quarters, however, the consumer confidence will trend towards positive as the lag increases. This justifies the CCI variable as a lagging indicator and supports our beli ...
... The response of consumer confidence to a shock in GDP will initially lead to a drop in consumer confidence in the first and second quarters, however, the consumer confidence will trend towards positive as the lag increases. This justifies the CCI variable as a lagging indicator and supports our beli ...
Sweden: 2015 Article IV Consultation--Press Release
... rates, cutting the repo rate in three steps to -0.35 percent. It is also purchasing 135 billion Swedish Kronor in government bonds in 2015, some 20 percent of the outstanding stock, and further purchases are planned in the first half of 2016. Migration inflows to Sweden have surged to over 1.5 perce ...
... rates, cutting the repo rate in three steps to -0.35 percent. It is also purchasing 135 billion Swedish Kronor in government bonds in 2015, some 20 percent of the outstanding stock, and further purchases are planned in the first half of 2016. Migration inflows to Sweden have surged to over 1.5 perce ...
ABB LTD (Form: 6-K, Received: 09/11/2015 10:44:22)
... value. The market for ABB’s offering in these segments totals more than $600 billion a year and is now expected to grow 2.5-4.5 percent a year in the period from 2015 to 2020, influenced mainly by more moderate emerging markets growth and the slower development of oil and gas. Technology innovation ...
... value. The market for ABB’s offering in these segments totals more than $600 billion a year and is now expected to grow 2.5-4.5 percent a year in the period from 2015 to 2020, influenced mainly by more moderate emerging markets growth and the slower development of oil and gas. Technology innovation ...
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... day of a given month following the end of a payment period. On the opening of new ISINs, Nykredit may fix due dates other than the first calendar day of a given month. Addition and accrual of interest may be adjusted as a result of changes in market conventions. ...
... day of a given month following the end of a payment period. On the opening of new ISINs, Nykredit may fix due dates other than the first calendar day of a given month. Addition and accrual of interest may be adjusted as a result of changes in market conventions. ...
CHINA: A MARKET ECONOMY?
... Reliance on this methodology increases the likelihood that Commerce will find that dumping occurred because the import price is set low by the centralized non-market forces of the exporting country, while the normal value to which the import price is compared to will be higher because it is set by t ...
... Reliance on this methodology increases the likelihood that Commerce will find that dumping occurred because the import price is set low by the centralized non-market forces of the exporting country, while the normal value to which the import price is compared to will be higher because it is set by t ...
Chapter 31 - Patrick Crowley
... deficit with Japan.” © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
... deficit with Japan.” © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
Return of Premium Term
... survey on return of premium riders and most of the respondents indicated that their state does require a demonstration of compliance with the Standard Nonforfeiture Law. The reinsurers have not been very active in the return of premium market mainly because the rider premium is based on persistency ...
... survey on return of premium riders and most of the respondents indicated that their state does require a demonstration of compliance with the Standard Nonforfeiture Law. The reinsurers have not been very active in the return of premium market mainly because the rider premium is based on persistency ...
Is Cash still King?
... The drivers for Central banks adopting a negative rate policy are primarily towards improving the supply of credit and boosting consumer spending by influencing interest rates on retail lending. When accompanied by other measures such as quantitative easing, these combined actions help stimulate cre ...
... The drivers for Central banks adopting a negative rate policy are primarily towards improving the supply of credit and boosting consumer spending by influencing interest rates on retail lending. When accompanied by other measures such as quantitative easing, these combined actions help stimulate cre ...
Compendium “Monetary Policy Frameworks and
... The Governing Council meets twice a month, with the first meeting of each month being almost exclusively devoted to an assessment of the overall economic and monetary situation and the risks to price stability, followed by an evaluation of the monetary policy stance and interest rate decisions. The ...
... The Governing Council meets twice a month, with the first meeting of each month being almost exclusively devoted to an assessment of the overall economic and monetary situation and the risks to price stability, followed by an evaluation of the monetary policy stance and interest rate decisions. The ...
China Africa ...17 juin
... Since the “open door” policy launched in 1978, China has made big efforts around the world to secure the raw materials needed to sustain its high growth rate and to diversify its exports. This effort accelerated from 1999 when China adopted the “go out” policy. As part of this policy, China turned t ...
... Since the “open door” policy launched in 1978, China has made big efforts around the world to secure the raw materials needed to sustain its high growth rate and to diversify its exports. This effort accelerated from 1999 when China adopted the “go out” policy. As part of this policy, China turned t ...
Sources of macroeconomic fluctuations in Venezuela
... mechanisms to smooth income and share risk, such as trading futures, options and commodity linked bonds of oil exports in international markets; or to implement selfinsurance mechanisms, such as macroeconomic stabilization funds2. On the other hand, if most fluctuations are associated to domestic de ...
... mechanisms to smooth income and share risk, such as trading futures, options and commodity linked bonds of oil exports in international markets; or to implement selfinsurance mechanisms, such as macroeconomic stabilization funds2. On the other hand, if most fluctuations are associated to domestic de ...
Republic of Croatia: 2015 Article IV Consultation
... out. Employment has stabilized and corporate profits are recovering. Tailwinds from a favorable external environment have helped, notably lower energy prices, stronger euro area growth, and ample domestic and external liquidity that contain debt servicing costs. However, stronger exports, industrial ...
... out. Employment has stabilized and corporate profits are recovering. Tailwinds from a favorable external environment have helped, notably lower energy prices, stronger euro area growth, and ample domestic and external liquidity that contain debt servicing costs. However, stronger exports, industrial ...
Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages
... deliberately on a period of time when we know there was a major financial/economic crisis that affected a large number of countries. That is, we make no attempt at all to model the timing of the crisis. We consider the latter to be a more challenging objective than ours, which is merely to dete ...
... deliberately on a period of time when we know there was a major financial/economic crisis that affected a large number of countries. That is, we make no attempt at all to model the timing of the crisis. We consider the latter to be a more challenging objective than ours, which is merely to dete ...
A Tale of Two Cycles: Co-Fluctuations Between UK
... between business cycle symmetry and monetary integration is straightforward: the former is exogenous to monetary policy and determines the desirability of the latter. Official thinking reflects this view. According to the stated policy of the current UK government (the first of the Treasury’s ‘five ...
... between business cycle symmetry and monetary integration is straightforward: the former is exogenous to monetary policy and determines the desirability of the latter. Official thinking reflects this view. According to the stated policy of the current UK government (the first of the Treasury’s ‘five ...
Monetary Darwinism: The Political Economy of
... opportunities in foreign markets. This elasticity of investment suggests the existence of extensive information regarding local investment conditions in foreign markets. Well-informed markets enhanced capital flows which were the principal adjustment device under the gold standard.8 Similarly, apply ...
... opportunities in foreign markets. This elasticity of investment suggests the existence of extensive information regarding local investment conditions in foreign markets. Well-informed markets enhanced capital flows which were the principal adjustment device under the gold standard.8 Similarly, apply ...