Experience with the monetary policy framework in
... extent to counteract the build-up of financial imbalances that may pose a threat to long-run economic stability. The marked decline in global real interest rates in recent decades has reduced the room for manoeuvre in monetary policy and the ability to respond to major adverse shocks. In the light o ...
... extent to counteract the build-up of financial imbalances that may pose a threat to long-run economic stability. The marked decline in global real interest rates in recent decades has reduced the room for manoeuvre in monetary policy and the ability to respond to major adverse shocks. In the light o ...
IMF Regional Economic Outlook: Western Hemisphere
... Latin America, and are likely to persist for some time. Monetary policies in advanced countries are apt to remain accommodative for an extended period, given sluggish growth, high unemployment, and fiscal drags—in turn, implying that external financing for the region will continue to be abundant and ...
... Latin America, and are likely to persist for some time. Monetary policies in advanced countries are apt to remain accommodative for an extended period, given sluggish growth, high unemployment, and fiscal drags—in turn, implying that external financing for the region will continue to be abundant and ...
MGS 726 Global Economic Environment
... endowments, such as the relative amounts of labor and capital within a country. The Ricardian model makes the following assumptions: 1. Labor is the only primary input to production 2. The relative ratios of labor at which the production of one good can be traded off for another differ between count ...
... endowments, such as the relative amounts of labor and capital within a country. The Ricardian model makes the following assumptions: 1. Labor is the only primary input to production 2. The relative ratios of labor at which the production of one good can be traded off for another differ between count ...
L - cerge-ei
... high correlation with a number of monetary variables suggests that a monetary explanation can better explain the rapid changes in barter indicators. This is emphasized in a number of empirical works like Bevan et al (2001), Brana and Maurel (2000), Commander et al (2000), Linz and Krueger (1998), an ...
... high correlation with a number of monetary variables suggests that a monetary explanation can better explain the rapid changes in barter indicators. This is emphasized in a number of empirical works like Bevan et al (2001), Brana and Maurel (2000), Commander et al (2000), Linz and Krueger (1998), an ...
ECB`s core inflation forecast is still too optimistic
... Disclaimer related to distribution in the United States This research report was created by Danske Bank A/S and is distributed in the United States by Danske Markets Inc., a U.S. registered broker-dealer and subsidiary of Danske Bank A/S, pursuant to SEC Rule 15a-6 and related interpretations issued ...
... Disclaimer related to distribution in the United States This research report was created by Danske Bank A/S and is distributed in the United States by Danske Markets Inc., a U.S. registered broker-dealer and subsidiary of Danske Bank A/S, pursuant to SEC Rule 15a-6 and related interpretations issued ...
T National Prosperity Is No Mystery
... discounting treasury bills and instead discounted only sound commercia1 paper (or “real bills”). Interest rates fell as low as 13 percent in late 1924. Tax receipts increased dramatically, but that was the result of monetary stability, not the cause. Monetary reform fared the government fiscal crisi ...
... discounting treasury bills and instead discounted only sound commercia1 paper (or “real bills”). Interest rates fell as low as 13 percent in late 1924. Tax receipts increased dramatically, but that was the result of monetary stability, not the cause. Monetary reform fared the government fiscal crisi ...
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... variety in country adjustment patterns has been more complex than the simple dichotomy of export: orientation or import subscitution (see Corbo and de Melo 1986 for adjustment in Latin American countries, and Lin 1986 for East Asian countries). In part:icula.r, in a.ddition Co differences in commerc ...
... variety in country adjustment patterns has been more complex than the simple dichotomy of export: orientation or import subscitution (see Corbo and de Melo 1986 for adjustment in Latin American countries, and Lin 1986 for East Asian countries). In part:icula.r, in a.ddition Co differences in commerc ...
NBER WORKING PAPER SERIES A FISCAL FRAMEWORK FOR OF INTEREST RATE BEHAVIOR IN
... is not particularly serious in these papers which investigate interest rate behavior in the United States. But for smaller more open economies this omission could be significant. 3/ This parity condition represents equilibrium for domestic investors but not necessarily for foreign investors. Simulta ...
... is not particularly serious in these papers which investigate interest rate behavior in the United States. But for smaller more open economies this omission could be significant. 3/ This parity condition represents equilibrium for domestic investors but not necessarily for foreign investors. Simulta ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... The government balance sheet is a measure of the government’s financial position at a point in time. Government balance sheet management is concerned with how the balance sheet may move through time. Managing the risks affecting the government balance sheet can assist in avoiding, or at least amelior ...
... The government balance sheet is a measure of the government’s financial position at a point in time. Government balance sheet management is concerned with how the balance sheet may move through time. Managing the risks affecting the government balance sheet can assist in avoiding, or at least amelior ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Note that the two factors-the terms-of-trade decline of primary commodities and relatively low productivity growth in the primary sector-are probably the reverse of the pattern at the end of the nineteenth century. In the earlier period, enormous advances in railways, ocean transport, refrigeration, ...
... Note that the two factors-the terms-of-trade decline of primary commodities and relatively low productivity growth in the primary sector-are probably the reverse of the pattern at the end of the nineteenth century. In the earlier period, enormous advances in railways, ocean transport, refrigeration, ...
Currency Mismatch: New Database and Indicators for Latin America
... the three indicators proposed by Eichengreen, Hausmann and Panizza (2007) have been inappropriately employed as proxies for currency mismatch. These indicators do not represent good proxies because they only consider the liability side of the balance sheet: The greater the proportion of foreign cur ...
... the three indicators proposed by Eichengreen, Hausmann and Panizza (2007) have been inappropriately employed as proxies for currency mismatch. These indicators do not represent good proxies because they only consider the liability side of the balance sheet: The greater the proportion of foreign cur ...
NBER WORKING PAPER SERIES LONG-RUN DETERMINANTS OF INFLATION Filippo Altissimo
... factor can account for a sizeable fraction of the dispersion in national inflation rates. This is particularly the case for the Non-Energy Industrial goods categories, even if the cross-country dispersion of the inflation rates of items in this category is relatively quite low. Moreover, this also a ...
... factor can account for a sizeable fraction of the dispersion in national inflation rates. This is particularly the case for the Non-Energy Industrial goods categories, even if the cross-country dispersion of the inflation rates of items in this category is relatively quite low. Moreover, this also a ...
Research China: Financial stress on the rise again
... Note: CNH money-market rates reflect the liquidity situation in the offshore market. China has used this market to control short selling of the offshore yuan by occasionally pushing up the cost of funding short CNH positions. It can do this by tightening liquidity in the market. In January 2017 it l ...
... Note: CNH money-market rates reflect the liquidity situation in the offshore market. China has used this market to control short selling of the offshore yuan by occasionally pushing up the cost of funding short CNH positions. It can do this by tightening liquidity in the market. In January 2017 it l ...
The transmission of US shocks to Latin America
... occurred through the trade balance and real exchange rate adjustments. The last decade, however, has witnessed a remarkable process of financial liberalization in many LDC countries and a substantial increase in the financial interdependencies of Latin America with the USA. One is therefore curious ...
... occurred through the trade balance and real exchange rate adjustments. The last decade, however, has witnessed a remarkable process of financial liberalization in many LDC countries and a substantial increase in the financial interdependencies of Latin America with the USA. One is therefore curious ...
Derivatives and their feedback effects on the spot markets
... method of avoiding destabilising effects. Moreover, regulatory measures such as price ranges or trading halts can help to defuse crisis situations. ...
... method of avoiding destabilising effects. Moreover, regulatory measures such as price ranges or trading halts can help to defuse crisis situations. ...
Stories of the Twentieth Century for the Twenty
... booms often have led to crashes, and while this pattern recurred just east of the euro zone, the retrenchment elsewhere in the developing world was milder. Following the September 2008 Lehman Brothers failure, financial flows to emerging markets certainly contracted abruptly, world export demand col ...
... booms often have led to crashes, and while this pattern recurred just east of the euro zone, the retrenchment elsewhere in the developing world was milder. Following the September 2008 Lehman Brothers failure, financial flows to emerging markets certainly contracted abruptly, world export demand col ...
Regional Monetary Cooperation and Growth
... intraregional trade transactions using a virtual unit of account, the Sucre, and permitting the use of domestic currencies of the member countries for final clearing and settlement. The main objectives of the SUCRE initiative, namely to foster trade expansion, to balance trade among member countries ...
... intraregional trade transactions using a virtual unit of account, the Sucre, and permitting the use of domestic currencies of the member countries for final clearing and settlement. The main objectives of the SUCRE initiative, namely to foster trade expansion, to balance trade among member countries ...
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... Note that in assessing the contributions to the economy by these two criteria, trade-offs may be allowed to take into consideration the contribution of different crop mixes to other objectives such as food security. ...
... Note that in assessing the contributions to the economy by these two criteria, trade-offs may be allowed to take into consideration the contribution of different crop mixes to other objectives such as food security. ...
A Balance Sheet Approach to Financial Crisis - Mark Allen
... in part on the composition of the country’s stock of liabilities and assets. The country’s aggregate balance sheet—the external liabilities and liquid external assets of all sectors of the economy—is vital. But it is often equally important to look inside an economy and to examine the balance sheet ...
... in part on the composition of the country’s stock of liabilities and assets. The country’s aggregate balance sheet—the external liabilities and liquid external assets of all sectors of the economy—is vital. But it is often equally important to look inside an economy and to examine the balance sheet ...