Managing Sustainable Growth
... CHF/HRK rate rose more than a 15% in a day. This happened because Croatian currency (Kuna – HRK) is virtually pegged to Euro, and Croatian monetary system can be described as quasi-currency board. It was the second substantial increase in the CHF/HRK rate. The first occurred in August 2011, which le ...
... CHF/HRK rate rose more than a 15% in a day. This happened because Croatian currency (Kuna – HRK) is virtually pegged to Euro, and Croatian monetary system can be described as quasi-currency board. It was the second substantial increase in the CHF/HRK rate. The first occurred in August 2011, which le ...
If Exchange Rates Are Random Walks Then Almost Everything We
... data on exchange rates imply nearly the opposite: fluctuations in interest rates are associated with nearly one-for-one changes in conditional variances and nearly no changes in conditional means. In this sense standard monetary models capture essentially none of what is going on in the data. We thu ...
... data on exchange rates imply nearly the opposite: fluctuations in interest rates are associated with nearly one-for-one changes in conditional variances and nearly no changes in conditional means. In this sense standard monetary models capture essentially none of what is going on in the data. We thu ...
Current Research Journal of Economic Theory 4(4): 120-131, 2012 ISSN: 2042-485X
... optimal currency area. The study also emphasizes the alternative techniques of adjustment to asymmetric disturbances for economies in the sub-region. The findings reveal that there is relatively high degree of symmetry in the responses of the economies to external disturbances, while about 90% of th ...
... optimal currency area. The study also emphasizes the alternative techniques of adjustment to asymmetric disturbances for economies in the sub-region. The findings reveal that there is relatively high degree of symmetry in the responses of the economies to external disturbances, while about 90% of th ...
Exchange rate volatility and economic performance in Peru: A firm
... therefore, aggregate demand. As a result, through this “balance-sheet effect”, currency depreciations have contractionary effects in the economy. To understand this channel, on the theoretical side, a large body of literature is being developed around what is known as the “open economy Bernanke-Gert ...
... therefore, aggregate demand. As a result, through this “balance-sheet effect”, currency depreciations have contractionary effects in the economy. To understand this channel, on the theoretical side, a large body of literature is being developed around what is known as the “open economy Bernanke-Gert ...
Currency Crises, Capital Account Liberalization
... The appropriate pace of deregulation of domestic financial markets also has been of concern, even in many industrial countries. The United States, Japan, and Sweden, among others, all have experienced some domestic financial instability following deregulation of domestic financial institutions. ...
... The appropriate pace of deregulation of domestic financial markets also has been of concern, even in many industrial countries. The United States, Japan, and Sweden, among others, all have experienced some domestic financial instability following deregulation of domestic financial institutions. ...
International trends in productivity and unit labor costs in manufacturing
... 4.4 percent in manufacturing in the United States in 1985 . This exceeded the rates of gain recorded by Canada and 7 of 9 European countries studied-France, Italy, the United Kingdom, Denmark, the Netherlands, Norway, and Sweden . However, two major trade competitors, Japan and West Germany, along w ...
... 4.4 percent in manufacturing in the United States in 1985 . This exceeded the rates of gain recorded by Canada and 7 of 9 European countries studied-France, Italy, the United Kingdom, Denmark, the Netherlands, Norway, and Sweden . However, two major trade competitors, Japan and West Germany, along w ...
The Effects of the Euro on Intra-Euro Area Exports
... no significant aggregate effect on the Irish exports to euro area countries relative to the rest of the Irish trading partners. However, when we relax the assumption of homogeneous euro effects over the analysed period, we find that the impact of the euro on exports to euro area countries relativ ...
... no significant aggregate effect on the Irish exports to euro area countries relative to the rest of the Irish trading partners. However, when we relax the assumption of homogeneous euro effects over the analysed period, we find that the impact of the euro on exports to euro area countries relativ ...
1 Is a Change in the Renminbi Exchange Rate in China`s Interest?1
... interest differential into the uncovered interest differential and the relative purchasing power parity differential, they find that a downward trend in the former is mainly responsible for the shrinking real interest differential vis-a-vis the United States. The persistence of these differentials c ...
... interest differential into the uncovered interest differential and the relative purchasing power parity differential, they find that a downward trend in the former is mainly responsible for the shrinking real interest differential vis-a-vis the United States. The persistence of these differentials c ...
Chapter 6
... a good or service abroad it is called an export. Imports and exports may be final goods, such as coffee from Brazil, intermediate goods, such as tin from Thailand, or they may be services, like entertainment from the Vienna Boy's Choir or the movie Rambo. In summary, there are a vast array of import ...
... a good or service abroad it is called an export. Imports and exports may be final goods, such as coffee from Brazil, intermediate goods, such as tin from Thailand, or they may be services, like entertainment from the Vienna Boy's Choir or the movie Rambo. In summary, there are a vast array of import ...
Introducing the Monetary Time Series of Southeastern Europe
... system – was to reduce the silver content of the silver coins from 900/1000 to 835/1000; in other words, full-bodied coins were turned into token coins in order to retain them in circulation. But solving one problem only created another one. As coins circulated freely among these four countries, the ...
... system – was to reduce the silver content of the silver coins from 900/1000 to 835/1000; in other words, full-bodied coins were turned into token coins in order to retain them in circulation. But solving one problem only created another one. As coins circulated freely among these four countries, the ...
is a monetary union in caricom desirable?
... based on scale economy and on the defects of competitiveness caused by the differentiation of the products” (DeGrauwe (1999)). So the European countries exchange similar goods, this closeness of productive structures reduce the probability that demand or supply shocks occur. On the contrary, for Eic ...
... based on scale economy and on the defects of competitiveness caused by the differentiation of the products” (DeGrauwe (1999)). So the European countries exchange similar goods, this closeness of productive structures reduce the probability that demand or supply shocks occur. On the contrary, for Eic ...
Exchange Rate Devaluation and Reshuffling of Global Jobs
... the imported intermediate good denominated in a foreign currency. If the imported intermediate good is a raw material that cannot be domestically produced, then the devaluation may be contractionary, due to the domestic price increase (Findlay and Rodriguez, 1979; Gylfason and Schmid, 1983). Otherwi ...
... the imported intermediate good denominated in a foreign currency. If the imported intermediate good is a raw material that cannot be domestically produced, then the devaluation may be contractionary, due to the domestic price increase (Findlay and Rodriguez, 1979; Gylfason and Schmid, 1983). Otherwi ...
Currency
A currency (from Middle English: curraunt, ""in circulation"", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.Other definitions of the term ""currency"" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency arose with the popularity of computers and the Internet.