Gold as International Reserves: A Barbarous Relic No More?

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Gold as International Reserves: A Barbarous Relic No More? by : Mr. Serkan Arslanalp

Download or read book Gold as International Reserves: A Barbarous Relic No More? written by Mr. Serkan Arslanalp and published by International Monetary Fund. This book was released on 2023-01-27 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: After moving slowly downward for the better part of four decades, central bank gold holdings have risen since the Global Financial Crisis. We identify 14 “active diversifiers,” defined as countries that purchased gold and raised its share in total reserves by at least 5 percentage points over the last two decades. In contrast to the diversification of foreign currency reserves, which has been undertaken by advanced and developing country central banks alike, active diversifiers into gold are exclusively emerging markets. We document two sets of factors contributing to this trend. First, gold appeals to central bank reserve managers as a safe haven in periods of economic, financial and geopolitical volatility, when the return on alternative financial assets is low. Second, the imposition of financial sanctions by the United States, United Kingdom, European Union and Japan, the main reserve-issuing economies, is associated with an increase in the share of central bank reserves held in the form of gold. There is some evidence that multilateral sanctions imposed by these, and other countries have a larger impact than unilateral sanctions on the share of reserves held in gold, since the latter leave scope for shifting reserves into the currencies of other non-sanctioning countries.

Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle

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Publisher : International Monetary Fund
ISBN 13 : 1498326773
Total Pages : 32 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle by : Eric Monnet

Download or read book Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle written by Eric Monnet and published by International Monetary Fund. This book was released on 2019-07-24 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why did monetary authorities hold large gold reserves under Bretton Woods (1944–1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves, following rules of the pre-WWII gold standard. The longer an institution spent in the gold standard (and the older the policymakers), the stronger the correlation between gold reserves and currency. Since dollars and gold were not perfect substitutes, the Bretton Woods system never worked as expected. Even after radical institutional change, history still shapes the decisions of policymakers.

Gold and the International Monetary System

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Publisher : Chatham House Report
ISBN 13 : 9781862032606
Total Pages : 0 pages
Book Rating : 4.0/5 (326 download)

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Book Synopsis Gold and the International Monetary System by : André Astrow

Download or read book Gold and the International Monetary System written by André Astrow and published by Chatham House Report. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "To assess what contribution, if any, gold could make to the current international monetary system in the wake of the global financial crisis, Chatham House set up a global Taskforce of experts in 2011. The Taskforce explored the advantages and disadvantages of reintroducing gold in the system and identified a number of possible scenarios for reform. For gold to play a more formal role in the international monetary system, it would be imperative that it neither hinders the system's performance nor creates unacceptable constraints on national economic policies; Although the discipline a gold standard imposes on monetary policy may have been helpful in limiting the reckless banking and excessive debt accumulation of the past decade, the rigidity of a fixed price for gold would likely have been a serious handicap with the onset of the financial crisis when a much more flexible monetary response was required; There is no clear-cut role for gold as a policy indicator. The historical behaviour of the gold price does not provide a particularly good indicator for either monetary or fiscal policy. In fact, since the financial crisis, the rise in the gold price has indicated the need for tighter policies which, if implemented, could have been deeply damaging; Gold can serve as a hedge against declining values of key fiat currencies, and can also be useful for central banks, but its role as a hedge is not cost free. Indeed, a major downside of holding gold is that its price can be extremely volatile. Also, it generates no yield, other than capital gains which are only realised when it is sold. Gold, therefore, can form part of a portfolio of assets that spreads valuation risk, but on the other hand, it is not very effective as a sole reserve asset."--Publisher description.

Central Bank Balances and Reserve Requirements

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Publisher : International Monetary Fund
ISBN 13 : 1455217905
Total Pages : 57 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Central Bank Balances and Reserve Requirements by : Mr.Simon Gray

Download or read book Central Bank Balances and Reserve Requirements written by Mr.Simon Gray and published by International Monetary Fund. This book was released on 2011-02-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.

In Defense of Public Debt

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Publisher : Oxford University Press
ISBN 13 : 0197577911
Total Pages : 321 pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis In Defense of Public Debt by : Barry Eichengreen

Download or read book In Defense of Public Debt written by Barry Eichengreen and published by Oxford University Press. This book was released on 2021-08-11 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debtsabout the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergenciesfrom wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governmentsnow more heavily indebted than beforefinally emerge from the crisis.

Lords of Finance

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Publisher : Penguin
ISBN 13 : 9781594201820
Total Pages : 584 pages
Book Rating : 4.2/5 (18 download)

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Book Synopsis Lords of Finance by : Liaquat Ahamed

Download or read book Lords of Finance written by Liaquat Ahamed and published by Penguin. This book was released on 2009 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that the stock market crash of 1929 and subsequent Depression occurred as a result of poor decisions on the part of four central bankers who jointly attempted to reconstruct international finance by reinstating the gold standard.

The Case for Gold

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Publisher : Cato Institute
ISBN 13 : 0932790313
Total Pages : 341 pages
Book Rating : 4.9/5 (327 download)

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Book Synopsis The Case for Gold by : Ron Paul

Download or read book The Case for Gold written by Ron Paul and published by Cato Institute. This book was released on 1982 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Euro

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Publisher : Yale University Press
ISBN 13 : 0300173903
Total Pages : 632 pages
Book Rating : 4.3/5 (1 download)

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Book Synopsis The Euro by : David Marsh

Download or read book The Euro written by David Marsh and published by Yale University Press. This book was released on 2011-08-23 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first comprehensive political and economic account of the birth and development of the Euro. Today the Euro is the supranational currency for sixteen European countries and the world's second-largest reserve currency. David Marsh tells the story of the rivalries, intrigues, and deal making that brought about a currency for Europe, and he analyzes the achievements and shortcomings of its first decade of existence. While the Euro represents a remarkable triumph of political will, great pressures are building on the single currency. Drawing on more than 100 interviews with leading figures associated with the Euro, and scores of secret documents from international archives, Marsh underscores the Euro's importance for the global economy, in particular for U.S. and British economic and political agendas. Hidden facts and fresh insights from The Euro --How the legacy of France and Germany's tortuous relations affects the Euro--Why the United Kingdom is unlikely to accept the Euro before 2025--The impact on the Euro of the U.S. credit crisis--How the Euro has rebounded against the aspirations of its founders--How Italy and Spain have massively lost competitiveness--Why radical changes must be adopted to prevent a European upheaval

The Future of the SDR in Light of Changes in the International Monetary System

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Publisher : International Monetary Fund
ISBN 13 : 9781557756046
Total Pages : 474 pages
Book Rating : 4.7/5 (56 download)

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Book Synopsis The Future of the SDR in Light of Changes in the International Monetary System by : Mr.James M. Boughton

Download or read book The Future of the SDR in Light of Changes in the International Monetary System written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 1996-09-26 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book edited by Michael Mussa, James M. Boughton, and Peter Isard, records the proceedings of a seminar held at the IMF in March 1996 on the future of the special drawing right (SDR), given changes in the international monetary system since the inception of the SDR. The seminar focuses on the differences in opinion in the international community on the desirability or feasibility of an additional allocation of SDRs.

The Battle of Bretton Woods

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Publisher : Princeton University Press
ISBN 13 : 0691149097
Total Pages : 480 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Battle of Bretton Woods by : Benn Steil

Download or read book The Battle of Bretton Woods written by Benn Steil and published by Princeton University Press. This book was released on 2013-02-24 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.

Government Finance Statistics Manual 2014

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Publisher : International Monetary Fund
ISBN 13 : 1498379214
Total Pages : 470 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Government Finance Statistics Manual 2014 by : Mrs.Sage De Clerck

Download or read book Government Finance Statistics Manual 2014 written by Mrs.Sage De Clerck and published by International Monetary Fund. This book was released on 2015-03-10 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.

The Rise and Fall of the Gold Standard

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Publisher : Hassell Street Press
ISBN 13 : 9781014744333
Total Pages : 208 pages
Book Rating : 4.7/5 (443 download)

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Book Synopsis The Rise and Fall of the Gold Standard by : Sir Charles Morgan-Webb

Download or read book The Rise and Fall of the Gold Standard written by Sir Charles Morgan-Webb and published by Hassell Street Press. This book was released on 2021-09-09 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

The Map and the Territory

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Publisher : Penguin
ISBN 13 : 1101638745
Total Pages : 402 pages
Book Rating : 4.1/5 (16 download)

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Book Synopsis The Map and the Territory by : Alan Greenspan

Download or read book The Map and the Territory written by Alan Greenspan and published by Penguin. This book was released on 2013-10-22 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. No one with any meaningful role in economic decision making in the world saw beforehand the storm for what it was. How had our models so utterly failed us? To answer this question, Alan Greenspan embarked on a rigorous and far-reaching multiyear examination of how Homo economicus predicts the economic future, and how it can predict it better. Economic risk is a fact of life in every realm, from home to business to government at all levels. Whether we’re conscious of it or not, we make wagers on the future virtually every day, one way or another. Very often, however, we’re steering by out-of-date maps, when we’re not driven by factors entirely beyond our conscious control. The Map and the Territory is nothing less than an effort to update our forecasting conceptual grid. It integrates the history of economic prediction, the new work of behavioral economists, and the fruits of the author’s own remarkable career to offer a thrillingly lucid and empirically based grounding in what we can know about economic forecasting and what we can’t.The book explores how culture is and isn't destiny and probes what we can predict about the world's biggest looming challenges, from debt and the reform of the welfare state to natural disasters in an age of global warming. No map is the territory, but Greenspan’s approach, grounded in his trademark rigor, wisdom, and unprecedented context, ensures that this particular map will assist in safe journeys down many different roads, traveled by individuals, businesses, and the state.

Implementing AML/CFT Measures in the Precious Minerals Sector

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Publisher : International Monetary Fund
ISBN 13 : 1498338038
Total Pages : 31 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Implementing AML/CFT Measures in the Precious Minerals Sector by : Mr.Emmanuel Mathias

Download or read book Implementing AML/CFT Measures in the Precious Minerals Sector written by Mr.Emmanuel Mathias and published by International Monetary Fund. This book was released on 2014-11-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The trade in precious metals and stones has been linked to illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and the financing of terrorism. In addition, the extraction of precious minerals and the subsequent trade in these resources, if properly managed, present significant revenue opportunities, particularly for countries facing development needs. Building on staff expertise in anti-money laundering and combating the financing of terrorism (AML/CFT) and technical support and analytical advice on the management of natural resources, this note is a reference guide to aid countries in using the AML/CFT framework to help combat crime related to and affecting the precious minerals sector while raising revenue.

Blood and Earth

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Publisher : Random House
ISBN 13 : 0812995775
Total Pages : 305 pages
Book Rating : 4.8/5 (129 download)

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Book Synopsis Blood and Earth by : Kevin Bales

Download or read book Blood and Earth written by Kevin Bales and published by Random House. This book was released on 2016-01-19 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: For readers of such crusading works of nonfiction as Katherine Boo’s Beyond the Beautiful Forevers and Tracy Kidder’s Mountains Beyond Mountains comes a powerful and captivating examination of two entwined global crises: environmental destruction and human trafficking—and an inspiring, bold plan for how we can solve them. A leading expert on modern-day slavery, Kevin Bales has traveled to some of the world’s most dangerous places documenting and battling human trafficking. In the course of his reporting, Bales began to notice a pattern emerging: Where slavery existed, so did massive, unchecked environmental destruction. But why? Bales set off to find the answer in a fascinating and moving journey that took him into the lives of modern-day slaves and along a supply chain that leads directly to the cellphones in our pockets. What he discovered is that even as it destroys individuals, families, and communities, new forms of slavery that proliferate in the world’s lawless zones also pose a grave threat to the environment. Simply put, modern-day slavery is destroying the planet. The product of seven years of travel and research, Blood and Earth brings us dramatic stories from the world’s most beautiful and tragic places, the environmental and human-rights hotspots where this crisis is concentrated. But it also tells the stories of some of the most common products we all consume—from computers to shrimp to jewelry—whose origins are found in these same places. Blood and Earth calls on us to recognize the grievous harm we have done to one another, put an end to it, and recommit to repairing the world. This is a clear-eyed and inspiring book that suggests how we can begin the work of healing humanity and the planet we share. Praise for Blood and Earth “A heart-wrenching narrative . . . Weaving together interviews, history, and statistics, the author shines a light on how the poverty, chaos, wars, and government corruption create the perfect storm where slavery flourishes and environmental destruction follows. . . . A clear-eyed account of man’s inhumanity to man and Earth. Read it to get informed, and then take action.”—Kirkus Reviews (starred review) “[An] exposé of the global economy’s ‘deadly dance’ between slavery and environmental disaster . . . Based on extensive travels through eastern Congo’s mineral mines, Bangladeshi fisheries, Ghanian gold mines, and Brazilian forests, Bales reveals the appalling truth in graphic detail. . . . Readers will be deeply disturbed to learn how the links connecting slavery, environmental issues, and modern convenience are forged.”—Publishers Weekly “This well-researched and vivid book studies the connection between slavery and environmental destruction, and what it will take to end both.”—Shelf Awareness (starred review) “This is a remarkable book, demonstrating once more the deep links between the ongoing degradation of the planet and the ongoing degradation of its most vulnerable people. It’s a bracing reminder that a mentality that allows throwaway people also allows a throwaway earth.”—Bill McKibben, author of Eaarth: Making a Life on a Tough New Planet

When China Rules the World

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Publisher : Penguin
ISBN 13 : 1101151455
Total Pages : 631 pages
Book Rating : 4.1/5 (11 download)

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Book Synopsis When China Rules the World by : Martin Jacques

Download or read book When China Rules the World written by Martin Jacques and published by Penguin. This book was released on 2009-11-12 with total page 631 pages. Available in PDF, EPUB and Kindle. Book excerpt: Greatly revised and expanded, with a new afterword, this update to Martin Jacques’s global bestseller is an essential guide to understanding a world increasingly shaped by Chinese power Soon, China will rule the world. But in doing so, it will not become more Western. Since the first publication of When China Rules the World, the landscape of world power has shifted dramatically. In the three years since the first edition was published, When China Rules the World has proved to be a remarkably prescient book, transforming the nature of the debate on China. Now, in this greatly expanded and fully updated edition, boasting nearly 300 pages of new material, and backed up by the latest statistical data, Martin Jacques renews his assault on conventional thinking about China’s ascendancy, showing how its impact will be as much political and cultural as economic, changing the world as we know it. First published in 2009 to widespread critical acclaim - and controversy - When China Rules the World: The End of the Western World and the Birth of a New Global Order has sold a quarter of a million copies, been translated into eleven languages, nominated for two major literary awards, and is the subject of an immensely popular TED talk.

The inflation crisis, and how to resolve it

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Author :
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164261
Total Pages : 198 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis The inflation crisis, and how to resolve it by : Henry Hazlitt

Download or read book The inflation crisis, and how to resolve it written by Henry Hazlitt and published by Ludwig von Mises Institute. This book was released on 1978 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: