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... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
... It is defined as the gap between the optimal area-wide interest rate, i∗EA,t , and the optimal interest rate that would prevail in country j, if it was able to follow a country-specific interest rate policy, i∗j,t . A negative value for Sj,t implies that actual monetary policy of the ECB for countr ...
stop-loss orders and price cascades in currency markets
... where stop-loss orders cluster. 6 This indicates that a trend can be prolonged by the execution of some stop-loss orders triggered by that trend, consistent with the paper’s main hypothesis. However, this result need not demonstrate that stop-loss orders are sometimes executed in "waves," as describ ...
... where stop-loss orders cluster. 6 This indicates that a trend can be prolonged by the execution of some stop-loss orders triggered by that trend, consistent with the paper’s main hypothesis. However, this result need not demonstrate that stop-loss orders are sometimes executed in "waves," as describ ...
IOSR Journal of Economics and Finance (IOSR-JEF) e-ISSN: 2321-5933, p-ISSN: 2321-5925. www.iosrjournals.org
... in India for the period 1990 -91 to 2000-01 using unit root tests, co integration and long run granger non causality test . Their study finds no causal linkage between the stock prices and the three macro economic variables, thereby concluding that Indian stock markets are approaching towards inform ...
... in India for the period 1990 -91 to 2000-01 using unit root tests, co integration and long run granger non causality test . Their study finds no causal linkage between the stock prices and the three macro economic variables, thereby concluding that Indian stock markets are approaching towards inform ...
The Effect of Authoritarian Regime Type on Exchange
... adopt divergent economic policies as a result. We apply this argument to one important area of foreign economic policy: exchange rate policy. Exchange rate policy is an ideal issue-area for examining the effect of authoritarian regimes on the global economy. The exchange rate, the price of foreign c ...
... adopt divergent economic policies as a result. We apply this argument to one important area of foreign economic policy: exchange rate policy. Exchange rate policy is an ideal issue-area for examining the effect of authoritarian regimes on the global economy. The exchange rate, the price of foreign c ...
global financial crisis and its effects on turkey
... billion debt and came to the brink of default in early 1995. An international loan led by IMF was given to Mexico. Mexico was solvent, but illiquid. The case that it was a liquidity crisis can be supported by the fact that after a decline in economic growth in 1995, economy recovered strongly in 199 ...
... billion debt and came to the brink of default in early 1995. An international loan led by IMF was given to Mexico. Mexico was solvent, but illiquid. The case that it was a liquidity crisis can be supported by the fact that after a decline in economic growth in 1995, economy recovered strongly in 199 ...
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... (SIT/Euro) and money supply (mil SIT) 4.1. Stationarity and integration tests The stationarity and integration test is conducted in two steps. First, the Augmented DickeyFuller unit root tests (not shown here) with and without a trend are performed. Test results suggest all series are integrated of ...
... (SIT/Euro) and money supply (mil SIT) 4.1. Stationarity and integration tests The stationarity and integration test is conducted in two steps. First, the Augmented DickeyFuller unit root tests (not shown here) with and without a trend are performed. Test results suggest all series are integrated of ...
INFLATION TARGETING IN DEVELOPING COUNTRIES Ferya KADIOĞLU Nilüfer ÖZDEMİR
... only failed to deliver their promised benefits, but also they helped to ...
... only failed to deliver their promised benefits, but also they helped to ...
The Japan-U.S. Exchange Rate, Productivity, and the
... appreciation was more muted, with the REER back at pre-Plaza levels by early 2007. In this paper, we focus on the movements of the yen on Japanese industries, and on the sectoral reallocation of Japanese employment. We show that the appreciation episodes of 1985 and 1995 have significantly hurt the ...
... appreciation was more muted, with the REER back at pre-Plaza levels by early 2007. In this paper, we focus on the movements of the yen on Japanese industries, and on the sectoral reallocation of Japanese employment. We show that the appreciation episodes of 1985 and 1995 have significantly hurt the ...
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... (SIT/Euro) and money supply (mil SIT) 4.1. Stationarity and integration tests The stationarity and integration test is conducted in two steps. First, the Augmented DickeyFuller unit root tests (not shown here) with and without a trend are performed. Test results suggest all series are integrated of ...
... (SIT/Euro) and money supply (mil SIT) 4.1. Stationarity and integration tests The stationarity and integration test is conducted in two steps. First, the Augmented DickeyFuller unit root tests (not shown here) with and without a trend are performed. Test results suggest all series are integrated of ...
Exchange Rates and Fundamentals: Closing a Two
... primarily driven by permanent shocks to the money supply differential, among other stationary shocks. This stringent theoretical prediction echoes the findings of NR. However, in contrast to the claim of NR, the permanent but cointegrated TFP shocks cannot be significant drivers of the random-walk nomi ...
... primarily driven by permanent shocks to the money supply differential, among other stationary shocks. This stringent theoretical prediction echoes the findings of NR. However, in contrast to the claim of NR, the permanent but cointegrated TFP shocks cannot be significant drivers of the random-walk nomi ...
Dynamics of Firms and Trade in General Equilibrium
... Columns 2 to 7 of Table 1 present suggestive evidence that heterogeneity in pro…tability rather than total sales is important for explaining the heterogeneous reaction of …rm exports to the real exchange rate. In columns 2 and 3 of Table 1, we split the …rms into a highpro…tability group (25%) and ...
... Columns 2 to 7 of Table 1 present suggestive evidence that heterogeneity in pro…tability rather than total sales is important for explaining the heterogeneous reaction of …rm exports to the real exchange rate. In columns 2 and 3 of Table 1, we split the …rms into a highpro…tability group (25%) and ...
Sterilisation, Capital Mobility and Interest Rate Determination for
... Contemporaneous Relationship In the context of the model in Section 2, the overall effect on the domestic ...
... Contemporaneous Relationship In the context of the model in Section 2, the overall effect on the domestic ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... touches the maximum and minimum level. The volatility of stock price can be observed from its fluctuation from the mean. Why we Study volatility in stock market and capital flows? The capital flow may have different effects on exchange rate and stock market volatility. Large capital inflows can dama ...
... touches the maximum and minimum level. The volatility of stock price can be observed from its fluctuation from the mean. Why we Study volatility in stock market and capital flows? The capital flow may have different effects on exchange rate and stock market volatility. Large capital inflows can dama ...
Foreign Bank Account Reporting
... • The regulations provide that the appropriate value of specified foreign financial assets for purposes of Form 8938 reporting is each such asset’s highest fair market value during the year, and must be reported in U.S. dollars. If the asset is denominated in foreign currency, the maximum value is f ...
... • The regulations provide that the appropriate value of specified foreign financial assets for purposes of Form 8938 reporting is each such asset’s highest fair market value during the year, and must be reported in U.S. dollars. If the asset is denominated in foreign currency, the maximum value is f ...
eui working papers - Cadmus - European University Institute
... assumed to be unconcerned about whether the currency they demand is fundamentally undervalued or overvalued. On the other hand, ’informed traders’ can act either as buyers or sellers, depending on their opinion about the intrinsic value of the security and–given the uncoordinated and decentralized t ...
... assumed to be unconcerned about whether the currency they demand is fundamentally undervalued or overvalued. On the other hand, ’informed traders’ can act either as buyers or sellers, depending on their opinion about the intrinsic value of the security and–given the uncoordinated and decentralized t ...
The Central Bank of Turkey (CBT) adopted a formal inflation-targeting... the beginning of 2006. Accordingly, the end-year inflation target for... Ankara, January 22, 2007
... The volatility in the exchange rates in May and June, coupled with other costpush factors such as strong commodity prices and rising food prices, has led to a serious deterioration in inflation expectations. Central Bank of Turkey implemented a two-pillar package as a reaction to the volatility in t ...
... The volatility in the exchange rates in May and June, coupled with other costpush factors such as strong commodity prices and rising food prices, has led to a serious deterioration in inflation expectations. Central Bank of Turkey implemented a two-pillar package as a reaction to the volatility in t ...
Mexico - Banco de México
... Mexico has faced a complex global environment over the last year, characterized by a rise in global financial market volatility and the collapse of oil prices. Nonetheless, the economy has continued to grow at a moderate pace, and capital outflow pressures have been limited. The flexible exchange ra ...
... Mexico has faced a complex global environment over the last year, characterized by a rise in global financial market volatility and the collapse of oil prices. Nonetheless, the economy has continued to grow at a moderate pace, and capital outflow pressures have been limited. The flexible exchange ra ...
Unit 10 - Virginia Council on Economic Education
... the same time, US producers may be forced out of business because they cannot produce at those lower prices (e.g. few shoes, textiles, televisions are produced in the U.S. today.) Greater connectivity through the Internet and otherwise allows businesses to hire skilled people in other countries to d ...
... the same time, US producers may be forced out of business because they cannot produce at those lower prices (e.g. few shoes, textiles, televisions are produced in the U.S. today.) Greater connectivity through the Internet and otherwise allows businesses to hire skilled people in other countries to d ...
Uncleared margin rules: Currency investors brace for change
... Uncleared margin rules Currency investors brace for change The currency market is one of the largest and most liquid financial market with an average daily volume of $5.1 trillion.1 Participants in this market include corporations, pension funds, financial institutions, central banks and many others ...
... Uncleared margin rules Currency investors brace for change The currency market is one of the largest and most liquid financial market with an average daily volume of $5.1 trillion.1 Participants in this market include corporations, pension funds, financial institutions, central banks and many others ...
Chapter 2
... • Because goods and services are bought and sold with prices attached, economists have a lot of quantitative data to work with • The real exchange rate is the relative price at which two countries’ goods exchange for each other – calculated by adjusting the nominal exchange rate for changes in the p ...
... • Because goods and services are bought and sold with prices attached, economists have a lot of quantitative data to work with • The real exchange rate is the relative price at which two countries’ goods exchange for each other – calculated by adjusting the nominal exchange rate for changes in the p ...
2005 WSJ Article List
... “Deutsche Bank Plans Investment Banking Push” (C3) – One of the world’s largest bank continues to deemphasize its historical core business because of uncompetitive home-market conditions for banks “Carlyle Agrees to Buy 24.9% Stake In China Pacific Life Insurance” (C4) – Further evidence of the inte ...
... “Deutsche Bank Plans Investment Banking Push” (C3) – One of the world’s largest bank continues to deemphasize its historical core business because of uncompetitive home-market conditions for banks “Carlyle Agrees to Buy 24.9% Stake In China Pacific Life Insurance” (C4) – Further evidence of the inte ...