NBER WORKING PAPER SERIES THE DOLLAR AND ITS DISCONTENTS Olivier Jeanne
... classes that were the most directly affected by the crisis, such as asset-backed securities or corporate bonds. Foreign private and official investors, who had diversified their holdings of US securities in the decades preceding the crisis, rushed back to the safety of Treasury debt after 2008. Figu ...
... classes that were the most directly affected by the crisis, such as asset-backed securities or corporate bonds. Foreign private and official investors, who had diversified their holdings of US securities in the decades preceding the crisis, rushed back to the safety of Treasury debt after 2008. Figu ...
Chapter 18
... The Long-Term Financing Decision • To make the long-term financing decision, the MNC must determine the amount of funds needed, forecast the price (interest rate) at which the bond may be issued, and forecast the exchange rates of the borrowed currency for the times when it has to make paymen ...
... The Long-Term Financing Decision • To make the long-term financing decision, the MNC must determine the amount of funds needed, forecast the price (interest rate) at which the bond may be issued, and forecast the exchange rates of the borrowed currency for the times when it has to make paymen ...
PPT
... driving the fundamentals that influence the shadow rate. Monetary model: may be mispecified as a model of the process driving the shadow-rate fundamentals. This may explain the relatively low explanatory power of the model. Equivalence proposition does not imply an exclusive focus on financial volat ...
... driving the fundamentals that influence the shadow rate. Monetary model: may be mispecified as a model of the process driving the shadow-rate fundamentals. This may explain the relatively low explanatory power of the model. Equivalence proposition does not imply an exclusive focus on financial volat ...
SP204: The Political Economy of European Monetary Union
... The call for establishing a monetary union was first made by the Commission in October, 1964. However, as noted above, the ‘harmonious relationships’ and operations of the common agricultural policy exerted little concern for substantive policy co-ordination. It took the unilateral measures in Novem ...
... The call for establishing a monetary union was first made by the Commission in October, 1964. However, as noted above, the ‘harmonious relationships’ and operations of the common agricultural policy exerted little concern for substantive policy co-ordination. It took the unilateral measures in Novem ...
figure 1 - Hoover Institution
... Intervention under Volcker & Greenspan ● At this point, the U.S. Treasury was typically leading the foreign exchange operations, often with broad G7 support. ~ Boehne (FRB-Phil.) in an apparent reference to the Jurgensen Report, suggested the policy makers must be contemplating some other policy ch ...
... Intervention under Volcker & Greenspan ● At this point, the U.S. Treasury was typically leading the foreign exchange operations, often with broad G7 support. ~ Boehne (FRB-Phil.) in an apparent reference to the Jurgensen Report, suggested the policy makers must be contemplating some other policy ch ...
The new currency boards and discretion: empirical
... fluctuations. Moreover, it is argued that for countries with relatively high external debt (like Bulgaria with 78% of GDP) and large annual service obligations, the inclusion of government reserves in the liabilities side and their backing with international reserves help enhance CB credibility. Con ...
... fluctuations. Moreover, it is argued that for countries with relatively high external debt (like Bulgaria with 78% of GDP) and large annual service obligations, the inclusion of government reserves in the liabilities side and their backing with international reserves help enhance CB credibility. Con ...
Free Full Text ( Final Version , 1mb )
... banks. Quantitative methods, mostly statistics based on selected United Stated macro economic indicators such U.S. public debt, money supply, current account etc., in related to the world economic such as world GDP, world reserve, long term commodities price etc.. These relationships will be calcula ...
... banks. Quantitative methods, mostly statistics based on selected United Stated macro economic indicators such U.S. public debt, money supply, current account etc., in related to the world economic such as world GDP, world reserve, long term commodities price etc.. These relationships will be calcula ...
Rebalancing the Global Economy Stefan Collignon
... developments.2 Unless these opposing views are brought together, managing the global economy will remain an empty wish. This paper presents a new approach to an old problem and it shows how making use of the euro could contribute to a win-win solution for the global economy. Global imbalances matter ...
... developments.2 Unless these opposing views are brought together, managing the global economy will remain an empty wish. This paper presents a new approach to an old problem and it shows how making use of the euro could contribute to a win-win solution for the global economy. Global imbalances matter ...
The Federal Reserve System
... a profit incentive to keep their reserves as close to the required reserve level as possible • Because banks continually seek to keep excess reserves at a minimum, they run the risk of falling below reserve requirements ...
... a profit incentive to keep their reserves as close to the required reserve level as possible • Because banks continually seek to keep excess reserves at a minimum, they run the risk of falling below reserve requirements ...
a Floating Rate - Bank of Canada
... save the Bretton Woods system failed. By 1973, all major currencies were floating against the U.S. dollar. The strength of the Canadian dollar against its U.S. counterpart during this period concerned the authorities, who feared the impact of a higher dollar on Canada’s export industries at a time o ...
... save the Bretton Woods system failed. By 1973, all major currencies were floating against the U.S. dollar. The strength of the Canadian dollar against its U.S. counterpart during this period concerned the authorities, who feared the impact of a higher dollar on Canada’s export industries at a time o ...
How to leave a single currency
... In a fixed exchange regime, any major idiosyncratic economic shocks to the production of a country have to be met by explicit domestic policy action and adjustments in the country concerned. Such corrective policies are inevitably slow relative to the immediate adjustment a flexible exchange rate me ...
... In a fixed exchange regime, any major idiosyncratic economic shocks to the production of a country have to be met by explicit domestic policy action and adjustments in the country concerned. Such corrective policies are inevitably slow relative to the immediate adjustment a flexible exchange rate me ...
Curriculum Introduction and Lesson Correlation Section
... Standard 3: Describe how to use different payment methods. Twelfth-grade expectation 1: Demonstrate skill in basic financial tasks, including scheduling bill payments, writing a check, reconciling a checking/debit account statement, and monitoring printed and/or online account statements for accurac ...
... Standard 3: Describe how to use different payment methods. Twelfth-grade expectation 1: Demonstrate skill in basic financial tasks, including scheduling bill payments, writing a check, reconciling a checking/debit account statement, and monitoring printed and/or online account statements for accurac ...
Currency Futures, Forex Futures
... fixed exchange rates make the producers more disciplined, i.e. they are forced to keep up with the quality of their production and to control the costs of the production to stay competitive compared to international enterprisers. This advantage of fixed exchange rates allows the government to decrea ...
... fixed exchange rates make the producers more disciplined, i.e. they are forced to keep up with the quality of their production and to control the costs of the production to stay competitive compared to international enterprisers. This advantage of fixed exchange rates allows the government to decrea ...
measuring the gains from currency union membership in southern
... integration to a common market. In the South African Development Community (SADC), for example, the plan is to have a free trade agreement by 2008, a customs union by 2010, a common market by 2015, a monetary union by 2016 and a single currency by 2018 (McCarthy 2008). Yet the history of African eco ...
... integration to a common market. In the South African Development Community (SADC), for example, the plan is to have a free trade agreement by 2008, a customs union by 2010, a common market by 2015, a monetary union by 2016 and a single currency by 2018 (McCarthy 2008). Yet the history of African eco ...
foreign currency option - Dixie State University
... • By taking a short position on the Mexican peso, Amber locks-in the right to sell 500,000 Mexican pesos at maturity at a set price above their current spot price • Using the quotes from the table, Amber sells one March contract for 500,000 pesos at the settle price: ...
... • By taking a short position on the Mexican peso, Amber locks-in the right to sell 500,000 Mexican pesos at maturity at a set price above their current spot price • Using the quotes from the table, Amber sells one March contract for 500,000 pesos at the settle price: ...
Chapter # 15
... Advantage of Discount Lending Performing the role of lender of last resort, therefore strengthening financial institutions. Disadvantages of Discount Lending 1. Creating confusion about the intentions of the central bank through the announcement of discount rate changes. 2. Setting the discount rat ...
... Advantage of Discount Lending Performing the role of lender of last resort, therefore strengthening financial institutions. Disadvantages of Discount Lending 1. Creating confusion about the intentions of the central bank through the announcement of discount rate changes. 2. Setting the discount rat ...
EST RATES AND CURRENCY PRICES IBI A TW@C~UNTRY
... remainder of the paper considers a variety of alternative monetary arrangements for this same world economy. In all models studied, the use of ‘money’ or ‘currency’ will be motivated by a constraint imposed on all tratders to the effect that goods can be purchased onIy with currency accumulated in a ...
... remainder of the paper considers a variety of alternative monetary arrangements for this same world economy. In all models studied, the use of ‘money’ or ‘currency’ will be motivated by a constraint imposed on all tratders to the effect that goods can be purchased onIy with currency accumulated in a ...
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.