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... For the past few years, Mexico has benefited from large inflows of short-term foreign capital. It has been widely recognized that these large annual flows were unsustainable in the longer run. Furthermore, the resulting appreciation of the peso was actually hindering the desirable changes in trade s ...
... For the past few years, Mexico has benefited from large inflows of short-term foreign capital. It has been widely recognized that these large annual flows were unsustainable in the longer run. Furthermore, the resulting appreciation of the peso was actually hindering the desirable changes in trade s ...
Sources of Macroeconomic Imbalances in Malawi
... of consumption. Similarly, countries with ageing population may find it opportune to save today, i.e. run current account surpluses, to avoid a drop in consumption in the future. In addition, the sustainability of a current account deficit is a function of the ability of the country to attract forei ...
... of consumption. Similarly, countries with ageing population may find it opportune to save today, i.e. run current account surpluses, to avoid a drop in consumption in the future. In addition, the sustainability of a current account deficit is a function of the ability of the country to attract forei ...
Economics of Systemic Transformation
... With the evolution of the centrally-planned economy, such developments led to a rising malfunctioning of the economic mechanism and the entire socialist system in coping with the developmental problems. The malfunctioning in question was reflected in a steady increase of the so-called idle capacity o ...
... With the evolution of the centrally-planned economy, such developments led to a rising malfunctioning of the economic mechanism and the entire socialist system in coping with the developmental problems. The malfunctioning in question was reflected in a steady increase of the so-called idle capacity o ...
The Euro and Stock Markets in Hungary, Poland, and UK
... tests are conducted year by year. During the sample period, Poland and Hungary were in the process of converging towards the economies in the EU, and accession to the EU was achieved in May 2004. The potential structural breaks in the stock and foreign exchange markets may not be trivial. In much of ...
... tests are conducted year by year. During the sample period, Poland and Hungary were in the process of converging towards the economies in the EU, and accession to the EU was achieved in May 2004. The potential structural breaks in the stock and foreign exchange markets may not be trivial. In much of ...
Gross or Net International Financial Flows
... the global external imbalances, which have been a feature of the world economy for more than a decade, are an important, causal factor underlying the global financial crisis of the past two years.1 The claim is that net financial flows, which are the counterpart of net current account balances, resu ...
... the global external imbalances, which have been a feature of the world economy for more than a decade, are an important, causal factor underlying the global financial crisis of the past two years.1 The claim is that net financial flows, which are the counterpart of net current account balances, resu ...
Efficiency, non-linearity and chaos: evidences from BRICS foreign
... Das et al. (2007) has analyzed the presence of chaos in the foreign exchange markets of India and china by analyzing the bilateral daily exchange rates against US dollar. The methodology implemented was that of Largest Lyapunov Exponents. They estimated LLE’s for the original exchange rate series as ...
... Das et al. (2007) has analyzed the presence of chaos in the foreign exchange markets of India and china by analyzing the bilateral daily exchange rates against US dollar. The methodology implemented was that of Largest Lyapunov Exponents. They estimated LLE’s for the original exchange rate series as ...
by Ghosh, Qureshi and Tsangarides - Faculty Directory | Berkeley
... rate regime, a lag and interaction • Mis-specification orthogonal to regime interaction? • Why not include other determinants of external account (model-dependent: output, real exchange rate, more lags for RY ’89; relative wealth, non-tradeables, etc)? Rose: Comments on Ghosh, Qureshi and Tsangaride ...
... rate regime, a lag and interaction • Mis-specification orthogonal to regime interaction? • Why not include other determinants of external account (model-dependent: output, real exchange rate, more lags for RY ’89; relative wealth, non-tradeables, etc)? Rose: Comments on Ghosh, Qureshi and Tsangaride ...
International price dispersion in state-dependent
... Rogers (1996) provide a metric that has often been used to gauge the impact that national borders have on international relative price movements: the border between the United States and Canada increases the volatility of relative prices for two cities it separates by as much as 75,000 miles would i ...
... Rogers (1996) provide a metric that has often been used to gauge the impact that national borders have on international relative price movements: the border between the United States and Canada increases the volatility of relative prices for two cities it separates by as much as 75,000 miles would i ...
Shocked by the world! Introducing the three block open economy FAVAR ∗
... of total trade to world GDP has increased significantly1 , while liberalisation of economic policies and financial markets have boosted financial integration. At the same time different regions of the world experience different growth paths, their own shocks and display heterogeneity in response to ...
... of total trade to world GDP has increased significantly1 , while liberalisation of economic policies and financial markets have boosted financial integration. At the same time different regions of the world experience different growth paths, their own shocks and display heterogeneity in response to ...
Chapter 7 12
... $50,000 cash. Unfortunately her will requires that the Alcan stock not be sold for one year and the $50,000 cash must be entirely invested in one of the stocks shown in Table 7.8. What is the safest attainable portfolio under these restrictions? Safest” means lowest risk; in a portfolio context, thi ...
... $50,000 cash. Unfortunately her will requires that the Alcan stock not be sold for one year and the $50,000 cash must be entirely invested in one of the stocks shown in Table 7.8. What is the safest attainable portfolio under these restrictions? Safest” means lowest risk; in a portfolio context, thi ...
NEWMONT MINING CORP /DE/ (Form: 8-K
... DENVER, July 25, 2012 – Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) announced the election of J. Kofi Bucknor to its Board of Directors (the “Board”). “Mr. Bucknor is a well-respected Ghanaian economist and businessman who will bring significant financial and governmental exp ...
... DENVER, July 25, 2012 – Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) announced the election of J. Kofi Bucknor to its Board of Directors (the “Board”). “Mr. Bucknor is a well-respected Ghanaian economist and businessman who will bring significant financial and governmental exp ...
View/Open
... $28.5 billion in 1996 to $40.9 billion in 2001. At its zenith in 2000, textile imports from the major Asian exporters amounted to $34.8 billion. U.S. textile imports from China alone rose from $8.81 billion to $10.24 billion during the period. Trade in textiles and apparel has historically been gove ...
... $28.5 billion in 1996 to $40.9 billion in 2001. At its zenith in 2000, textile imports from the major Asian exporters amounted to $34.8 billion. U.S. textile imports from China alone rose from $8.81 billion to $10.24 billion during the period. Trade in textiles and apparel has historically been gove ...
THE IMF Lecture 6 LIUC 2010 1
... financial affairs, by strengthening their capacity in both human and institutional resources, and to design appropriate macroeconomic, financial, and structural policies. Contributes to the effectiveness of the IMF's surveillance and lending programs, and is an important complement to these other ...
... financial affairs, by strengthening their capacity in both human and institutional resources, and to design appropriate macroeconomic, financial, and structural policies. Contributes to the effectiveness of the IMF's surveillance and lending programs, and is an important complement to these other ...
Unconventional Monetary Policies-
... rational runs and the collapse of confidence, by offering key backstops.6 First, liquidity provision was extended to a wider set of recipients. In the United States (U.S.), these included nonbank entities such as securities firms and money market mutual funds. Second, targeted funding was provided t ...
... rational runs and the collapse of confidence, by offering key backstops.6 First, liquidity provision was extended to a wider set of recipients. In the United States (U.S.), these included nonbank entities such as securities firms and money market mutual funds. Second, targeted funding was provided t ...
How Important Is the Shock-Absorbing Role of the
... can expect ongoing changes in the economies of the ACs in the period to accession and beyond, we will maintain the assumption that the lessons that can be learned from past economic developments are relevant for the likely consequences of enlargement. The main source of costs are asymmetric (or idio ...
... can expect ongoing changes in the economies of the ACs in the period to accession and beyond, we will maintain the assumption that the lessons that can be learned from past economic developments are relevant for the likely consequences of enlargement. The main source of costs are asymmetric (or idio ...
Invoice Currency: puzzling evidence and new questions from Brazil
... internal accounting. Firms with Brazilian and foreign operations have their international intrafirm logistics accounted as exports and imports as they are different firms. Nonetheless, it is arguable that the accounting factor outweighs the commercial factor, so invoicing in the domestic currency wo ...
... internal accounting. Firms with Brazilian and foreign operations have their international intrafirm logistics accounted as exports and imports as they are different firms. Nonetheless, it is arguable that the accounting factor outweighs the commercial factor, so invoicing in the domestic currency wo ...
A Bayesian Look at New Open Economy Macroeconomics
... work on open economy DSGE models is largely based on two-country settings. 3 We believe that this paper is one of the first attempts to estimate a two-country model with Bayesian methods. 4 Using a maximum likelihood framework, Bergin (2004) is the closest precursor to our paper in terms of scope an ...
... work on open economy DSGE models is largely based on two-country settings. 3 We believe that this paper is one of the first attempts to estimate a two-country model with Bayesian methods. 4 Using a maximum likelihood framework, Bergin (2004) is the closest precursor to our paper in terms of scope an ...
Stock Prices, Exchange Rates, and Oil
... Oil is the main product in the most of Middle East countries -especially in the Gulf areasuch as Kuwait, Oman and Saudi Arabia. We can say that, without exaggeration, the oil is the main product that these countries export to the world, so that the oil price shocks have a crucial effect on the econo ...
... Oil is the main product in the most of Middle East countries -especially in the Gulf areasuch as Kuwait, Oman and Saudi Arabia. We can say that, without exaggeration, the oil is the main product that these countries export to the world, so that the oil price shocks have a crucial effect on the econo ...
Basic Exchange Rate Theories
... staff of the School of Economics for encouragement and friendship. This research is part of a preparation for a monograph with the working title International Economics: Theory, Application, and Policy (IETAP), to be published by Oxford University Press in due time as an update and extension of my e ...
... staff of the School of Economics for encouragement and friendship. This research is part of a preparation for a monograph with the working title International Economics: Theory, Application, and Policy (IETAP), to be published by Oxford University Press in due time as an update and extension of my e ...
BTI 2016 | Venezuela Country Report
... impartial and there are reasonable doubts as to whether the published results reflect voters’ preference. President Maduro’s razor-thin victory at the polls was tainted with evidence of fraud: the opposition presented over 200 substantiated allegations of violations of electoral rules by the governm ...
... impartial and there are reasonable doubts as to whether the published results reflect voters’ preference. President Maduro’s razor-thin victory at the polls was tainted with evidence of fraud: the opposition presented over 200 substantiated allegations of violations of electoral rules by the governm ...
MALAYSIA`S SEPTEMBER 1998 CONTROLS - G-24
... Malaysia than foreign bank borrowings, which were officially discouraged by the central bank authorities who generally required evidence of significant foreign exchange earnings from deployment of such external loans. Malaysia thus succeeded in attracting considerable capital inflows during the earl ...
... Malaysia than foreign bank borrowings, which were officially discouraged by the central bank authorities who generally required evidence of significant foreign exchange earnings from deployment of such external loans. Malaysia thus succeeded in attracting considerable capital inflows during the earl ...
NBER WORKING PAPER SERIES COUNTRY RISK, FOREIGN BORROWING AND SOCIAL DISCOUNT RATE IN
... equation (9), it is necessary to carefully analyze the meanings of weights ...
... equation (9), it is necessary to carefully analyze the meanings of weights ...
Monetary Policy after the Crisis 1. introduction Lars E.O. Svensson
... Is the financial crisis a reason to modify this framework of flexible inflation targeting? That depends on the causes of the crisis. As I see it, the financial crisis was caused by factors that had very little to do with monetary policy. These factors were the macro conditions, global imbalances tha ...
... Is the financial crisis a reason to modify this framework of flexible inflation targeting? That depends on the causes of the crisis. As I see it, the financial crisis was caused by factors that had very little to do with monetary policy. These factors were the macro conditions, global imbalances tha ...