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... borrow. This could be the case, for instance, if co-ordination problems among international investors long in short term debt issued by a country lead to liquidity runs similar to bank runs. When markets co-ordinate on an equilibrium characterised by a run, the debtor country is forced to come up qu ...
... borrow. This could be the case, for instance, if co-ordination problems among international investors long in short term debt issued by a country lead to liquidity runs similar to bank runs. When markets co-ordinate on an equilibrium characterised by a run, the debtor country is forced to come up qu ...
Open-Economy Macroeconomics: Basic Concepts
... value of a currency as measured by the amount of foreign currency it can buy. • Depreciation (貨幣貶值) refers to a decrease in the value of a currency as measured by the amount of foreign currency it can buy. • If one N.T. dollar buys more foreign currency, there is an appreciation of the N.T. dollar. ...
... value of a currency as measured by the amount of foreign currency it can buy. • Depreciation (貨幣貶值) refers to a decrease in the value of a currency as measured by the amount of foreign currency it can buy. • If one N.T. dollar buys more foreign currency, there is an appreciation of the N.T. dollar. ...
Role of the IMF in the Global Financial Crisis Miranda Xafa
... 2007b). However, the focus of this advice was not sharp enough to prompt policy action, and policymakers in the still-booming global economy were less receptive to the warnings. The fact that the crisis originated in the advanced countries, normally outside the purview of the Fund’s crisis preventio ...
... 2007b). However, the focus of this advice was not sharp enough to prompt policy action, and policymakers in the still-booming global economy were less receptive to the warnings. The fact that the crisis originated in the advanced countries, normally outside the purview of the Fund’s crisis preventio ...
Exchange Rates and the International Financial
... globalization) is not without its perils. Some periods, such as the early 2000s, were relatively tranquil, while others saw crisis after crisis. The 1930s saw the gold standard and the international trading regime collapse. The 1970s saw the collapse of the fixed-exchange-rate system, oil embargoes, ...
... globalization) is not without its perils. Some periods, such as the early 2000s, were relatively tranquil, while others saw crisis after crisis. The 1930s saw the gold standard and the international trading regime collapse. The 1970s saw the collapse of the fixed-exchange-rate system, oil embargoes, ...
99095115I_en.pdf
... supporting external competitiveness and maintaining financial stability. By reviewing the proceedings of the Central Bank of Brazil Monetary Policy Committee (copom) and the inflation reports, it is possible to form some hypotheses about these objectives.4 References to the effects of the exchange r ...
... supporting external competitiveness and maintaining financial stability. By reviewing the proceedings of the Central Bank of Brazil Monetary Policy Committee (copom) and the inflation reports, it is possible to form some hypotheses about these objectives.4 References to the effects of the exchange r ...
On the feasibility of a monetary union in the Southern Africa
... The issue of currency union is attracting a lot of attention among economists and policy makers. Currency union arrangements typically take the form of a number of independent countries coming together to adopt a single currency. The attraction of joining currency union is supported by the claim tha ...
... The issue of currency union is attracting a lot of attention among economists and policy makers. Currency union arrangements typically take the form of a number of independent countries coming together to adopt a single currency. The attraction of joining currency union is supported by the claim tha ...
Modern Money Theory 101: A Reply to Critics
... theoretical elements are summarized by saying that monetarily sovereign governments are always solvent, and can afford to buy anything for sale in their domestic unit of account even though they may face inflationary and political constraints.3 MMT has also provided policy insights with respect to ...
... theoretical elements are summarized by saying that monetarily sovereign governments are always solvent, and can afford to buy anything for sale in their domestic unit of account even though they may face inflationary and political constraints.3 MMT has also provided policy insights with respect to ...
Why Canada Needs a Flexible Exchange Rate
... Canada has operated under a flexible exchange rate for all but 10 of the last 50 years. This makes us very unusual; indeed, no other country during the post-war period has been as devoted to the flexible exchange rate system. Most countries have preferred to tie their currencies to that of another t ...
... Canada has operated under a flexible exchange rate for all but 10 of the last 50 years. This makes us very unusual; indeed, no other country during the post-war period has been as devoted to the flexible exchange rate system. Most countries have preferred to tie their currencies to that of another t ...
NBER WORKING PAPER SERIES A LONG RUN VIEW Michael D. Bordo
... (e.g., London, Paris, and Berlin) was denominated in the currency of the financial leaders. Private and sovereign debt contracts often demanded repayment in a fixed weight of precious metal such as gold. However this was by no means the rule within this period. Many emerging markets managed to plac ...
... (e.g., London, Paris, and Berlin) was denominated in the currency of the financial leaders. Private and sovereign debt contracts often demanded repayment in a fixed weight of precious metal such as gold. However this was by no means the rule within this period. Many emerging markets managed to plac ...
Reserve currency
A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves. The reserve currency is commonly used in international transactions and often considered a hard currency or safe-haven currency. People who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than people in other nations because they don't need to exchange their currency to do so.By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency, and the world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year. However, the U.S. dollar's status as a reserve currency, by increasing in value, hurts U.S. exporters.