EXCHANGE RATE AND INFLATION: A CASE OF
... and pricing-to-market in the domestic market. The tradables markets are very segmented, having effects on the exchange rate in such a way that they control its variation, even though nontradables push it up. With pricing-to-market at retail level, consumers will be insulated from exchange rate effec ...
... and pricing-to-market in the domestic market. The tradables markets are very segmented, having effects on the exchange rate in such a way that they control its variation, even though nontradables push it up. With pricing-to-market at retail level, consumers will be insulated from exchange rate effec ...
Price Levels and the Exchange Rate in the Long Run
... costs and official barriers to trade (such as tariffs), identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency. For example, if the dollar/pound exchange rate is $1.50 per pound, a sweater that sells for $45 in New York ...
... costs and official barriers to trade (such as tariffs), identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency. For example, if the dollar/pound exchange rate is $1.50 per pound, a sweater that sells for $45 in New York ...
Macroeconomic Indicators
... in HK these are called Clearing Balances. When check/electronic transfer requires payment from one bank to another, the transaction is finalized with a debit of one banks account and a corresponding credit to another. ...
... in HK these are called Clearing Balances. When check/electronic transfer requires payment from one bank to another, the transaction is finalized with a debit of one banks account and a corresponding credit to another. ...
NBER WORKING PAPER SERiES ThADE POLICY, EXCHANGE RATES AND GROWTH Sebastian Edwards
... reforms during the 1970s as a failure. This view has been clearly synthesized by Lance Taylor (1991, p. 119) who has argued that the "trade liberalization strategy is intellectually moribund" and that there are "no great benefits (plus some costs) in following open trade and capital market strategie ...
... reforms during the 1970s as a failure. This view has been clearly synthesized by Lance Taylor (1991, p. 119) who has argued that the "trade liberalization strategy is intellectually moribund" and that there are "no great benefits (plus some costs) in following open trade and capital market strategie ...
NBER WORKING PAPER SERIES MONETARY POLICIES IN INTERDEPENDENT ECONOMIES WITH STOCHASTIC DISTURBANCES:
... the direct shift effect.12 At the same time, the foreign monetary authority should contract its money supply, doing so by an amount which exactly matches the interactive component of the domestic authority's response. ...
... the direct shift effect.12 At the same time, the foreign monetary authority should contract its money supply, doing so by an amount which exactly matches the interactive component of the domestic authority's response. ...
... institutional structure of debt markets in emerging market countries now interacts with the currency devaluations to propel the economies into full-fledged financial crises. Because so many firms in these countries have debt denominated in foreign currencies, depreciation of their currencies results ...
Obstacles to Implementing Lessons from the 1997-1998 East Asian Crises & Social Af
... Second, private sector debt exploded in the 1990s, especially from abroad, not least because of the efforts of debt-pushers keen to secure higher returns from the fast-growing region.3 Commercial banks’ foreign liabilities also increased quickly, as the ratio of loans to gross national product rose ...
... Second, private sector debt exploded in the 1990s, especially from abroad, not least because of the efforts of debt-pushers keen to secure higher returns from the fast-growing region.3 Commercial banks’ foreign liabilities also increased quickly, as the ratio of loans to gross national product rose ...
IE-UFRJ Discussion Paper - Instituto de Economia
... A second, and for our purposes more relevant point raised by the structuralist authors, is the relation between external conditions and inflation. Latin American economies face persistent deficits on the current account due to low diversification of production and concentration in resource based exp ...
... A second, and for our purposes more relevant point raised by the structuralist authors, is the relation between external conditions and inflation. Latin American economies face persistent deficits on the current account due to low diversification of production and concentration in resource based exp ...
Is the exchange rate of RMB a major reason leading
... 5. How China control inflow and outflow of RMB so as to control the exchange rate Before 2009, there are strict government controls that prohibited almost all export of RMB or use of it in international transactions. Transactions between Chinese companies and foreign companies were generally in US ...
... 5. How China control inflow and outflow of RMB so as to control the exchange rate Before 2009, there are strict government controls that prohibited almost all export of RMB or use of it in international transactions. Transactions between Chinese companies and foreign companies were generally in US ...
CHAPTER 18
... Operating Strategies after the FDI Decision • Although an investment agreement creates obligations on the part of both foreign investor and host government, conditions change and agreements are often revised in the light of such changes • The firm that sticks rigidly to the legal interpretation of ...
... Operating Strategies after the FDI Decision • Although an investment agreement creates obligations on the part of both foreign investor and host government, conditions change and agreements are often revised in the light of such changes • The firm that sticks rigidly to the legal interpretation of ...
Asset Substitutes, Money Demand and the Inflation Process in Brazil
... (subsidiesto commercial banks for particularloans). Some direct loans and passthroughs are backed by bona fide loans, while others have been made with little expectation of repayment. Thus it is difficult to measure the implicit transfer accomplished through central bank programs. When the monetary ...
... (subsidiesto commercial banks for particularloans). Some direct loans and passthroughs are backed by bona fide loans, while others have been made with little expectation of repayment. Thus it is difficult to measure the implicit transfer accomplished through central bank programs. When the monetary ...
NBER WORKING PAPER SERIES RE-EVALUATING SWEDISH MEMBERSHIP IN EMU: Ulf Söderström
... The data are presented in Figures 1–8, while Tables 1–3 show sample means, standard deviations and correlations with the Euro area for the two subperiods. The main impression is that there is strong comovement of business cycles across Europe. Most countries experienced an expansion in 1997–2000 wit ...
... The data are presented in Figures 1–8, while Tables 1–3 show sample means, standard deviations and correlations with the Euro area for the two subperiods. The main impression is that there is strong comovement of business cycles across Europe. Most countries experienced an expansion in 1997–2000 wit ...
Real currency appreciation in accession countries
... The papers of Halpern/Wyplosz (1997), Krajnyák/Zettelmeyer (1998) and Begg HW DO (1999) argue that an initial real undervaluation accounts for part of the real appreciation in the first half of the 1990s. They observe a sharp real depreciation for some transition countries at the time they gave up ...
... The papers of Halpern/Wyplosz (1997), Krajnyák/Zettelmeyer (1998) and Begg HW DO (1999) argue that an initial real undervaluation accounts for part of the real appreciation in the first half of the 1990s. They observe a sharp real depreciation for some transition countries at the time they gave up ...
UNHAPPY FAMILIES ARE ALL ALIKE: MINSKYAN CYCLES
... to more recent experiences, the dramatic one of the so-called “credible EMS” between 1987 and 1992 (Frankel and Phillips, 1992). All these experiences occurred, at different points in time, in Europe, and they all ended up in the same way: the “strong currency policy”, whatever its intended motivati ...
... to more recent experiences, the dramatic one of the so-called “credible EMS” between 1987 and 1992 (Frankel and Phillips, 1992). All these experiences occurred, at different points in time, in Europe, and they all ended up in the same way: the “strong currency policy”, whatever its intended motivati ...
1st Quarter 2016 - Deloitte University Press
... Europe, and that business investment is weak. He discusses various policy levers that might boost investment in the future. Next, Patricia Buckley offers her thoughts on the US economy. She notes that the recent decision by the Federal Reserve to raise short-term interest rates for the first time in ...
... Europe, and that business investment is weak. He discusses various policy levers that might boost investment in the future. Next, Patricia Buckley offers her thoughts on the US economy. She notes that the recent decision by the Federal Reserve to raise short-term interest rates for the first time in ...
pertemuan 6 analisis makro dan evaluasi micro
... • The basic valuation model and concepts apply globally • While the models and concepts are the same, the input values can and will vary dramatically across countries • The valuation of non-domestic markets will almost certainly be more onerous because of several additional variables or constraints ...
... • The basic valuation model and concepts apply globally • While the models and concepts are the same, the input values can and will vary dramatically across countries • The valuation of non-domestic markets will almost certainly be more onerous because of several additional variables or constraints ...
Ultra Easy Monetary Policy and the Law of Unintended Consequences
... In this paper, an attempt is made to evaluate the desirability of ultra easy monetary policy by weighing up the balance of the desirable short run effects and the undesirable longer run effects – the unintended consequences. In Section B, it is suggested that there are grounds to be ...
... In this paper, an attempt is made to evaluate the desirability of ultra easy monetary policy by weighing up the balance of the desirable short run effects and the undesirable longer run effects – the unintended consequences. In Section B, it is suggested that there are grounds to be ...
NBER WORKING PAPER SERIES THE EXCHANGE RATE AS A TOOL OF COMMERCIAL POLICY
... fiscal expansion, financed by an increase in government debt, is also shown to appreciate the real exchange rate in the short run, even though private agents correctly forecast the future taxes that will be necessary to pay the interest ...
... fiscal expansion, financed by an increase in government debt, is also shown to appreciate the real exchange rate in the short run, even though private agents correctly forecast the future taxes that will be necessary to pay the interest ...
Interest Rates and the Exchange Rate: A Non
... the positive effect coming from deposits becomes gradually smaller. This implies that as long as deposit demand is more elastic than cash demand for low domestic interest rates, initially money demand will rise with the interest rate since the demand deposit effect dominates. However, beyond a certai ...
... the positive effect coming from deposits becomes gradually smaller. This implies that as long as deposit demand is more elastic than cash demand for low domestic interest rates, initially money demand will rise with the interest rate since the demand deposit effect dominates. However, beyond a certai ...
REAL RATE AND OUTPUT COST OF BRINGING DOWN INFLATION
... expectations mechanism for the labour market although we do not favour that ...
... expectations mechanism for the labour market although we do not favour that ...
This PDF is a selection from an out-of-print volume from the... of Economic Research Volume Title: International Economic Policy Coordination
... Temporary fiscal expansion in the home country — stylised model ...
... Temporary fiscal expansion in the home country — stylised model ...
Chapter 7
... Nominal Exchange Rates--Choosing a Definition: Nominal exchange rates (E): price of foreign currency in terms of domestic currency ...
... Nominal Exchange Rates--Choosing a Definition: Nominal exchange rates (E): price of foreign currency in terms of domestic currency ...
Capital Inflows and Exchange Rate Volatility in Korea
... The global financial markets have experienced significant turmoil since the 2008 U.S. financial crisis. Not only have the global financial shocks affected advanced economies, but they have also spilled over to emerging countries such as Brazil, Russia and Korea, affecting their financial markets and ...
... The global financial markets have experienced significant turmoil since the 2008 U.S. financial crisis. Not only have the global financial shocks affected advanced economies, but they have also spilled over to emerging countries such as Brazil, Russia and Korea, affecting their financial markets and ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Exchange Rates and International Macroeconomics
... markets, yet we distinguish between situations of short-run equilibrium, contingent on predetermined values of some variables, and long-run or full equilibrium. The distinction arises due to the multisectoral framework combined with the assumption that factor reallocation, in particular changes in s ...
... markets, yet we distinguish between situations of short-run equilibrium, contingent on predetermined values of some variables, and long-run or full equilibrium. The distinction arises due to the multisectoral framework combined with the assumption that factor reallocation, in particular changes in s ...