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An International Comparison Of Prices And Exchange Rates
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Book Synopsis International and Interarea Comparisons of Income, Output, and Prices by : Alan Heston
Download or read book International and Interarea Comparisons of Income, Output, and Prices written by Alan Heston and published by University of Chicago Press. This book was released on 2000-01-14 with total page 537 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists wish to compare prices, real income, and output across countries and regions for many purposes. In the past, such comparisons were made in nominal terms, or by using exchange rates across countries, ignoring differences in price levels and thus distorting the results. Great progress has been made in interspatial comparisons in the past thirty years, but descriptions and discussions of the new measures have been scattered in unpublished or inaccessible papers. International and Interarea Comparisons of Income, Output, and Prices includes discussions of developments in the United Nations International Comparison Program, the largest effort in this field, and in the ICOP program on the production side, including efforts in both to extend the comparisons to the formerly planned economies. Other papers in this volume explore new programs on interspatial comparisons within the United States. There are also theoretical papers on how interspatial comparisons should be made and several examples of uses of such comparisons.
Book Synopsis International Comparisons of Real Product and Purchasing Power by : Irving B. Kravis
Download or read book International Comparisons of Real Product and Purchasing Power written by Irving B. Kravis and published by Johns Hopkins University Press. This book was released on 1978 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of the United Nations International Comparison Project (ICP) is to compare the purchasing power of currencies and the real gross domestic product (GDP) per capita of different countries. It is well known that the usual method of converting the GDPs of different countries to a common currency, usually U.S. dollars, at existing exchange rates is misleading because exchange rates do not necessarily reflect the purchasing power of currencies. The ICP has found that the purchasing power of a country's currency over GDP can be as much as three times its dollar exchange rate, and thus the real GDP per capita is three times the value shown in an exchange-rate conversion. The unsatisfactory nature of exchange-rate conversions has become even clearer in the past few years under the new regime of managed floating rates. Changes in exchange rates of as much as 20 percent within the space of a year have not been unusual even among major currencies.
Book Synopsis Measuring the Real Size of the World's Economy by : World Bank
Download or read book Measuring the Real Size of the World's Economy written by World Bank and published by World Bank Publications. This book was released on 2013 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This work is a product of the staff of The World Bank with external contributions"--T.p. verso.
Book Synopsis Currencies, Commodities and Consumption by : Kenneth W. Clements
Download or read book Currencies, Commodities and Consumption written by Kenneth W. Clements and published by Cambridge University Press. This book was released on 2013-01-31 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.
Book Synopsis Eurostat-OECD Methodological Manual on Purchasing Power Parities (2012 Edition) by : OECD
Download or read book Eurostat-OECD Methodological Manual on Purchasing Power Parities (2012 Edition) written by OECD and published by OECD Publishing. This book was released on 2012-11-30 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual gives a complete, detailed and up-to-date description of the Eurostat-OECD PPP Programme, including its organisation, the various surveys carried out by participating countries and the ways PPPs are calculated and disseminated. It also provides guidance on the use of PPPs.
Book Synopsis World Product and Income by : Irving B. Kravis
Download or read book World Product and Income written by Irving B. Kravis and published by Johns Hopkins University Press. This book was released on 1982 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of the International Comparison Programme by : United Nations. Statistical Office
Download or read book Handbook of the International Comparison Programme written by United Nations. Statistical Office and published by New York : United Nations. This book was released on 1992 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes the International Comparison Programme which intends to produce estimates, comparable in real terms, for the gross domestic product. Provides guidance for those working in national statistical offices on the Programme.
Book Synopsis Exchange Rate Misalignment in Developing Countries by : Sebastian Edwards
Download or read book Exchange Rate Misalignment in Developing Countries written by Sebastian Edwards and published by Johns Hopkins University Press. This book was released on 1988 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
Book Synopsis Flexible Exchange Rates for a Stable World Economy by : Joseph E. Gagnon
Download or read book Flexible Exchange Rates for a Stable World Economy written by Joseph E. Gagnon and published by Peterson Institute. This book was released on 2011 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Book Synopsis 2017 International Comparison Program in Asia and the Pacific by : Asian Development Bank
Download or read book 2017 International Comparison Program in Asia and the Pacific written by Asian Development Bank and published by Asian Development Bank. This book was released on 2020-05-01 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication provides estimates of purchasing power parities (PPPs) and real expenditures for 22 economies in Asia and the Pacific. These are summary regional results from the 2017 cycle of the International Comparison Program (ICP), a global statistical initiative carried out under the auspices of the United Nations Statistical Commission. The report provides estimates of PPPs, real expenditures for total and per capita gross domestic product (GDP) and its component expenditures derived using PPPs, and price level indexes showing relative costs of living. The PPPs enable comparison in real terms across economies by removing the price level differences among them.
Book Synopsis Understanding National Accounts Second Edition by : Lequiller François
Download or read book Understanding National Accounts Second Edition written by Lequiller François and published by OECD Publishing. This book was released on 2014-10-20 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an update of OECD 2006 "Understanding National Accounts". It contains new data, new chapters and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010.
Book Synopsis Dominant Currency Paradigm: A New Model for Small Open Economies by : Camila Casas
Download or read book Dominant Currency Paradigm: A New Model for Small Open Economies written by Camila Casas and published by International Monetary Fund. This book was released on 2017-11-22 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Book Synopsis Purchasing Power Parity and Real Exchange Rates by : Mark P. Taylor
Download or read book Purchasing Power Parity and Real Exchange Rates written by Mark P. Taylor and published by Routledge. This book was released on 2013-09-13 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term Purchasing Power Parity may date from the early twentieth century, when it was coined by the Swedish economist Gustav Cassel, but the underlying concept had been enjoying varying degrees of success since its development in sixteenth century Spain. Even towards the end of the twentieth century, and especially since the breakdown of the Bretton Woods system of fixed exchange rates, PPP and the stability of real exchange rates continued to be the subject of academic debate. This volume brings together essays covering aspects of current thinking on Purchasing Power Parity, from the various ways in which to test for its existence, to its appearance in different economies around the world, to examinations of the explanations given when PPP does not appear to hold This book was published as a special issue of Applied Financial Economics. The academic editor of this journal is Mark P. Taylor.
Book Synopsis Exchange Rate Economics by : Ronald MacDonald
Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Book Synopsis A Tract on Monetary Reform by : John Maynard Keynes
Download or read book A Tract on Monetary Reform written by John Maynard Keynes and published by Cosimo Classics. This book was released on 1923 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The long run is a misleading guide to current affairs. In the long run we are all dead." -John Maynard Keynes, A Tract on Monetary Reform (1923) A Tract on Monetary Reform (1923), by British economist John Maynard Keynes, is a masterly analysis of the world monetary situation at the beginning of the twentieth century. Keynes stated the importance of stable domestic prices and a stable currency for a strong economy, while arguing against the gold standard, which at that time was used for the US dollar and many other currencies. Britain abandoned the gold standard in 1931-after it had re-established it in 1925-and the United States abandoned the gold standard in 1933. A Tract on Monetary Reform is essential reading for anyone interested in Keynes' theories and for students of economics or economic history.
Book Synopsis Making Choices in Health by : World Health Organization
Download or read book Making Choices in Health written by World Health Organization and published by World Health Organization. This book was released on 2003 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Guide, in Part I, begins with a brief description of generalized CEA and how it relates to the two questions raised above. It then considers issues relating to study design, estimating costs, assessing health effects, discounting, uncertainty and sensitivity analysis, and reporting results. Detailed discussions of selected technical issues and applications are provided in a series of background papers, originally published in journals, but included in this book for easy reference in Part II." (from the back cover).
Book Synopsis The Theory And Empirics Of Exchange Rates by : Imad A Moosa
Download or read book The Theory And Empirics Of Exchange Rates written by Imad A Moosa and published by World Scientific. This book was released on 2009-07-15 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exchange rate economics is an important field of investigation for academics, professionals and policy-makers. This book provides a comprehensive survey of the theory of and empirical evidence on the determination and effects of exchange rates. The exposition utilizes both diagrammatic and mathematical representations of the underlying models. The book is a comprehensive reference for those engaged in this field of research.
