The Bretton Woods International Monetary System
... After twenty years of floating exchange rates, there is now considerable interest, among those concerned over its perceived shortcomings, in an eventual return by the world to a fixed exchange rate regime. This interest has been enhanced by the apparent success of the European Monetary System (EMS) ...
... After twenty years of floating exchange rates, there is now considerable interest, among those concerned over its perceived shortcomings, in an eventual return by the world to a fixed exchange rate regime. This interest has been enhanced by the apparent success of the European Monetary System (EMS) ...
No Slide Title
... Notes: "H" means translation at the historic rate (prevailing when the position is first created), "C" means translation at the current rate (prevailing on the date of consolidation). "Mixed H" refers to sums of terms added at various moments in time, at the then prevailing rate. "Average" means an ...
... Notes: "H" means translation at the historic rate (prevailing when the position is first created), "C" means translation at the current rate (prevailing on the date of consolidation). "Mixed H" refers to sums of terms added at various moments in time, at the then prevailing rate. "Average" means an ...
Leaving the euro: A practical guide
... indebtedness. Often it is the same countries that suffer acutely from both the financial and economic problems. As a result of poor competitiveness and/or the burden of excessive debt, several members of the euro-zone suffer from a chronic shortage of aggregate demand, which results in high levels o ...
... indebtedness. Often it is the same countries that suffer acutely from both the financial and economic problems. As a result of poor competitiveness and/or the burden of excessive debt, several members of the euro-zone suffer from a chronic shortage of aggregate demand, which results in high levels o ...
Choice Of Exchange Rate Regimes For Developing Countries
... legal and judicial systems, and prudent foreign exchange exposure of the banking sector and domestic businesses are also important requirements for an exchange rate regime to successfully maintain competitiveness and avoid a currency crisis. Selective marketbased controls on capital inflows can, in ...
... legal and judicial systems, and prudent foreign exchange exposure of the banking sector and domestic businesses are also important requirements for an exchange rate regime to successfully maintain competitiveness and avoid a currency crisis. Selective marketbased controls on capital inflows can, in ...
Rating the Rating Agencies - Peterson Institute for International
... perform much worse for both currency and banking crises than do the better indicators of economic fundamentals. The noise-to-signal ratio is higher than one for both types of crises, suggesting a similar incidence of good signals and false alarms. Hence, not surprisingly, the marginal contribution t ...
... perform much worse for both currency and banking crises than do the better indicators of economic fundamentals. The noise-to-signal ratio is higher than one for both types of crises, suggesting a similar incidence of good signals and false alarms. Hence, not surprisingly, the marginal contribution t ...
Exchange Rates and Monetary Policy Uncertainty
... constrained financiers with short investment horizons intermediate global demand for currencies. These financiers can actively engage in currency trading, but have a downward-sloping demand for risk taking, which limits their risk-bearing capacity. Such a limit can arise for a variety of reasons, su ...
... constrained financiers with short investment horizons intermediate global demand for currencies. These financiers can actively engage in currency trading, but have a downward-sloping demand for risk taking, which limits their risk-bearing capacity. Such a limit can arise for a variety of reasons, su ...
I F M What Is the
... and fiscal policies and to avoid, as far as possible, putting restrictions on exchanging domestic for foreign currency and on making payments to other members. Its members have given the IMF some authority over their payments policies because these policies are of paramount importance to the flow of ...
... and fiscal policies and to avoid, as far as possible, putting restrictions on exchanging domestic for foreign currency and on making payments to other members. Its members have given the IMF some authority over their payments policies because these policies are of paramount importance to the flow of ...
The Federal Reserve sets the nation`s monetary policy to promote
... est rates would increase if the Federal Reserve surprised market participants by announcing an increase in the federal funds rate, or if some event prompted market participants to believe that the Federal Reserve was going to be holding the federal funds rate at higher levels than had been anticipat ...
... est rates would increase if the Federal Reserve surprised market participants by announcing an increase in the federal funds rate, or if some event prompted market participants to believe that the Federal Reserve was going to be holding the federal funds rate at higher levels than had been anticipat ...
NBER WORKING PAPER SERIES OPTIMAL HOLDINGS OF INTERNATIONAL RESERVES:
... Stop times relative to tranquil times. With these expected costs at hand, a measure of the opportunity cost of holding reserves, a calculation of the average size of capital account reversals, and an assumption on the degree of risk aversion of the government, they obtain a level of optimal reserves ...
... Stop times relative to tranquil times. With these expected costs at hand, a measure of the opportunity cost of holding reserves, a calculation of the average size of capital account reversals, and an assumption on the degree of risk aversion of the government, they obtain a level of optimal reserves ...
NBER WORKING PAPER SERIES THE U.S. CURRENT ACCOUNT AND THE DOLLAR
... There are two main forces behind the large U.S. current account deficits: First, an increase in the U.S. demand for foreign goods, partly because of relatively higher U.S. growth, partly because of shifts in demand away from U.S. goods towards foreign goods. Second, an increase in the foreign deman ...
... There are two main forces behind the large U.S. current account deficits: First, an increase in the U.S. demand for foreign goods, partly because of relatively higher U.S. growth, partly because of shifts in demand away from U.S. goods towards foreign goods. Second, an increase in the foreign deman ...
Document
... (http://research.stlouisfed.org/fred2/categories/13) offers tables as well as graphs for a limited number of countries. The graphs show the number of units of foreign currency that can be purchased for one US dollar for a five (or more) year period. The New York Federal Reserve provides daily repo ...
... (http://research.stlouisfed.org/fred2/categories/13) offers tables as well as graphs for a limited number of countries. The graphs show the number of units of foreign currency that can be purchased for one US dollar for a five (or more) year period. The New York Federal Reserve provides daily repo ...
The Money Supply Process and Monetary Policy
... The Money Supply Process In the fall of 1998, Edward Boehne, a Federal Reserve executive, knew the Fed had goofed. When he checked into a hotel in a small town in Pennsylvania, the clerk looked at his title and said, “You didn’t do enough.” By mid-November 1998, the Fed had intervened three times to ...
... The Money Supply Process In the fall of 1998, Edward Boehne, a Federal Reserve executive, knew the Fed had goofed. When he checked into a hotel in a small town in Pennsylvania, the clerk looked at his title and said, “You didn’t do enough.” By mid-November 1998, the Fed had intervened three times to ...
NBER WORKING PAPER SERIES CURRENCY MISALIGNMENTS AND OPTIMAL MONETARY POLICY: A REEXAMINATION
... A sophisticated extension of this work is the recent paper by Corsetti, Dedola, and Leduc (2007). That paper extends earlier work in several dimensions, including staggered price setting. But it does not directly address the issue of whether currency misalignments belong in the targeting rule along ...
... A sophisticated extension of this work is the recent paper by Corsetti, Dedola, and Leduc (2007). That paper extends earlier work in several dimensions, including staggered price setting. But it does not directly address the issue of whether currency misalignments belong in the targeting rule along ...
R e s e r v e B... Vo l u m e 6 4 ... C o n t e n t s
... the earnings of operating businesses). The debt can be ...
... the earnings of operating businesses). The debt can be ...
The International Monetary Fund and Current Account
... gives rise to a spread of more than 2 percent between buying and selling rates for spot exchange transactions between the member's currency and any other member's currency would be considered a multiple currency practice and would require the prior approval of the Fund." ...
... gives rise to a spread of more than 2 percent between buying and selling rates for spot exchange transactions between the member's currency and any other member's currency would be considered a multiple currency practice and would require the prior approval of the Fund." ...
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.