Misalignment of Exchange Rates

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Author :
Publisher : University of Chicago Press
ISBN 13 : 0226507254
Total Pages : 332 pages
Book Rating : 4.2/5 (265 download)

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Book Synopsis Misalignment of Exchange Rates by : Richard C. Marston

Download or read book Misalignment of Exchange Rates written by Richard C. Marston and published by University of Chicago Press. This book was released on 2008-04-15 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists writing on flexible exchange rates in the 1960s foresaw neither the magnitude nor the persistence of the changes in real exchange rates that have occurred in the last fifteen years. Unexpectedly large movements in relative prices have lead to sharp changes in exports and imports, disrupting normal trading relations and causing shifts in employment and output. Many of the largest changes are not equilibrium adjustments to real disturbances but represent instead sustained departures from long-run equilibrium levels, with real exchange rates remaining "misaligned" for years at a time. Contributors to Misalignment of Exchange Rates address a series of questions about misalignment. Several papers investigate the causes of misalignment and the extent to which observed movements in real exchange rates can be attributed to misalignment. These studies are conducted both empirically, through the experiences of the United States, Great Britain, Japan, and the countries of the European Monetary System, and theoretically, through models of imperfect competition. Attention is then turned to the effects of misalignment, especially on employment and production, and to detailed estimates of the effects of changes in exchange rates on several industries, including the U.S. auto industry. In response to the contention that there is significant "hysteresis" in the adjustment of employment and production to changes in exchange rates, contributors also attempt to determine whether the effects of misalignment can be reversed once exchange rates return to earlier levels. Finally, the issue of how to avoid—or at least control—misalignment through macroeconomic policy is confronted.

Measuring Misalignment

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451854250
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Measuring Misalignment by : Menzie David Chinn

Download or read book Measuring Misalignment written by Menzie David Chinn and published by International Monetary Fund. This book was released on 1999-09-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of purchasing power parity (PPP) is used to evaluate whether eight East Asian currencies were overvalued on the eve of the 1997 crises. The Johansen and Horvath-Watson cointegration test procedures are applied to bilateral and multilateral exchange rates, deflated using CPIs, producer price indices (PPIs), and price indices of export goods. The second deflator yields the greatest evidence of “stationarity.” The study find’s that the Malaysian, Philippines, and Thai currencies were overvalued, while the Korean and Indonesian were substantially undervalued. Mixed results were obtained for the others. Measures of the equilibrium rate based on time trends in CPI-deflated rates typically suggest larger overvaluations.

Exchange Rate Misalignment

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451864000
Total Pages : 31 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Exchange Rate Misalignment by : Mr.Atsushi Iimi

Download or read book Exchange Rate Misalignment written by Mr.Atsushi Iimi and published by International Monetary Fund. This book was released on 2006-06-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Botswana's successive currency devaluations and recent move from a fixed to a crawling peg exchange rate regime raise the question of whether the exchange rate might be misaligned with economic fundamentals. This paper, applying the behavioral equilibrium exchange rate (BEER) approach, analyzes the behavior of the real exchange rate for the period 1985-2004. It finds that the pula was undervalued in the later 1980s but overvalued in recent years. Some policy lessons from experiences in other countries with crawling peg arrangements are therefore considered in the context of Botswana.

Analysis of Angular Misalignment Errors in Mounting Linear Acclerometers to Anatomical Subjects. Technical Report

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Author :
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Analysis of Angular Misalignment Errors in Mounting Linear Acclerometers to Anatomical Subjects. Technical Report by : Arnold K. Johnson

Download or read book Analysis of Angular Misalignment Errors in Mounting Linear Acclerometers to Anatomical Subjects. Technical Report written by Arnold K. Johnson and published by . This book was released on 1977 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exchange Rate Misalignment

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Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Exchange Rate Misalignment by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy

Download or read book Exchange Rate Misalignment written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy and published by . This book was released on 1986 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exchange Rate Misalignment and Growth: A Myth?

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Author :
Publisher : International Monetary Fund
ISBN 13 : 148433602X
Total Pages : 15 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Exchange Rate Misalignment and Growth: A Myth? by : Carlos Goncalves

Download or read book Exchange Rate Misalignment and Growth: A Myth? written by Carlos Goncalves and published by International Monetary Fund. This book was released on 2017-12-21 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of real exchange rate movements on GDP growth is a hotly debated issue both in policy and academic circles. In this paper, we provide evidence suggesting that the association between exchange rate misalignment and growth for a broad panel of countries is very weak. Controlling for country fixed effects, time effects and initial GDP, a more depreciated currency is associated with higher growth if one does not exclude outliers. However, this positive association always vanishes after controling for the savings rate. Importantly, this applies for both a large panel of countries and for the emerging economies subsample.

Exchange rate misalignment in Pakistan and its general equilibrium distributional implications

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Author :
Publisher : Intl Food Policy Res Inst
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4./5 ( download)

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Book Synopsis Exchange rate misalignment in Pakistan and its general equilibrium distributional implications by : Debowicz, Dario

Download or read book Exchange rate misalignment in Pakistan and its general equilibrium distributional implications written by Debowicz, Dario and published by Intl Food Policy Res Inst. This book was released on with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent findings in the growth literature suggest that developing countries need to keep a devalued exchange rate to stimulate their economic growth. Building on these findings, we econometrically evaluate to what ex-tent the real exchange rate of Pakistan has been aligned with its economic fundamentals, and find that the Pa-kistan rupee has been significantly and systematically overvalued during the last years. We then simulate the general equilibrium effects of an eventual re-alignment of the real exchange rate with economic fundamen-tals, and find not only an expected increase in the relative size of the tradable sector - where productivity in-creases tend to be faster – but also an associated improvement in the income of the poorest groups.

Exchange Rate Misalignment

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Author :
Publisher : World Bank Publications
ISBN 13 : 019521126X
Total Pages : 638 pages
Book Rating : 4.1/5 (952 download)

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Book Synopsis Exchange Rate Misalignment by : Lawrence E. Hinkle

Download or read book Exchange Rate Misalignment written by Lawrence E. Hinkle and published by World Bank Publications. This book was released on 1999 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study cautiously identifies exchange rate misalignment as an important element in most of the exchange rate crises that plagued the developing world during the last decade. Given that the increasing integration of world capital markets, has escalated the costs of such crises, a broad consensus emerged in recent years, that the overriding objective of exchange rate policy in developing countries, should be to avoid episodes of prolonged, and substantial misalignment, i.e., situations in which the actual real exchange rate differs significantly from its long-run equilibrium value. It was the Bank's involvement in one such misalignment episode, that eventually led to this book. Following an overview on the concepts and measurement of exchange rate misalignment, its impact on the purchasing power parity, and the relationship between the external real exchange rate (RER), and the two-good internal RER for tradables non-tradables, the study presents methodologies - empirical applications - for estimating the RER equilibrium. The study reaches an optimistic conclusion - that enough is known to identify cases of misalignment, and be able to sound clear warning signals. The implication for exchange rate policy is that ignorance about the empirical value of the equilibrium exchange rate, cannot be used to clinch arguments for extreme exchange arrangements, such as clean floats, currency boards, and "dollarization."

Misalignment

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Author :
Publisher : Aspen Publishers
ISBN 13 : 9781543829563
Total Pages : 1194 pages
Book Rating : 4.8/5 (295 download)

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Book Synopsis Misalignment by : Joel  Seligman

Download or read book Misalignment written by Joel  Seligman and published by Aspen Publishers. This book was released on 2020-07-22 with total page 1194 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Misalignment: The New Financial Order and the Failure of Financial Regulation, Joel Seligman provides a broad account of banking, insurance, and securities regulation from the beginning of the United States through the 2007-2009 financial crisis and concludes with a plan for a fundamentally different approach to financial regulation that is more likely to avoid financial meltdowns in the future and minimize financial perturbations. The history of financial regulation in the United States is a history of crisis reaction. Before the New Deal, uncoordinated regulatory systems were established in banking and insurance. In the New Deal period, the U.S. achieved a long-stable model of financial regulation that atomized financial firms and substantially increased investor and depositor protection. After World War II, the New Deal financial regulatory model deteriorated and vast areas of finance evolved outside of regulation. No event better crystalized this deterioration than the financial debacle of 2007-2009. How was such a debacle possible in a nation whose financial regulatory system was long considered the finest in the world? More than any other cause, the misalignment of the Treasury, Federal Reserve System, and regulatory systems designed in earlier crises to address specific industries was overwhelmed by a New Financial Order, financial supermarkets that operated in several financial fields simultaneously. The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was at best a partial response to the greatest financial calamity in our history since the 1929-1932 stock market crash. The failure of Dodd-Frank to address the structure of financial regulation was its most conspicuous weakness. Misalignment proposes a plan for a different approach to financial regulation designed to avoid economic failures in the future and minimize financial disorder.

The Alignment Problem: Machine Learning and Human Values

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Author :
Publisher : W. W. Norton & Company
ISBN 13 : 039363583X
Total Pages : 459 pages
Book Rating : 4.3/5 (936 download)

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Book Synopsis The Alignment Problem: Machine Learning and Human Values by : Brian Christian

Download or read book The Alignment Problem: Machine Learning and Human Values written by Brian Christian and published by W. W. Norton & Company. This book was released on 2020-10-06 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: A jaw-dropping exploration of everything that goes wrong when we build AI systems and the movement to fix them. Today’s “machine-learning” systems, trained by data, are so effective that we’ve invited them to see and hear for us—and to make decisions on our behalf. But alarm bells are ringing. Recent years have seen an eruption of concern as the field of machine learning advances. When the systems we attempt to teach will not, in the end, do what we want or what we expect, ethical and potentially existential risks emerge. Researchers call this the alignment problem. Systems cull résumés until, years later, we discover that they have inherent gender biases. Algorithms decide bail and parole—and appear to assess Black and White defendants differently. We can no longer assume that our mortgage application, or even our medical tests, will be seen by human eyes. And as autonomous vehicles share our streets, we are increasingly putting our lives in their hands. The mathematical and computational models driving these changes range in complexity from something that can fit on a spreadsheet to a complex system that might credibly be called “artificial intelligence.” They are steadily replacing both human judgment and explicitly programmed software. In best-selling author Brian Christian’s riveting account, we meet the alignment problem’s “first-responders,” and learn their ambitious plan to solve it before our hands are completely off the wheel. In a masterful blend of history and on-the ground reporting, Christian traces the explosive growth in the field of machine learning and surveys its current, sprawling frontier. Readers encounter a discipline finding its legs amid exhilarating and sometimes terrifying progress. Whether they—and we—succeed or fail in solving the alignment problem will be a defining human story. The Alignment Problem offers an unflinching reckoning with humanity’s biases and blind spots, our own unstated assumptions and often contradictory goals. A dazzlingly interdisciplinary work, it takes a hard look not only at our technology but at our culture—and finds a story by turns harrowing and hopeful.

Rotating Machinery

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Publisher : CRC Press
ISBN 13 : 9780824750527
Total Pages : 248 pages
Book Rating : 4.7/5 (55 download)

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Book Synopsis Rotating Machinery by : Robert B. McMillan

Download or read book Rotating Machinery written by Robert B. McMillan and published by CRC Press. This book was released on 2003-12-02 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and practical understanding of unbalance and misalignment in rotating equipment is presented here. These two conditions account for the vast majority of problems with rotating equipment encountered in the real world.;Numerous examples and solutions are included to assist in understanding the various concepts. Included is information on vibration and how it is used to determine the operational integrity of rotating machinery. Also detailed are the relationships between various vibration characteristics which provide an understanding of the forces generated within operating machinery when conditions of unbalance and misalignment are present. Resonance and beat frequencies are detailed along with sources and cures.;Also covered are proper inspection procedures, single plane and dual plane methods of balancing rotating equipment, the three circle method of balancing slow speed fans, advanced rim and face method of precision alignment, and the reverse indicator method of alignment plus much more to fortify the learning experience.

Tango with the Gringo:The hard peg and real misalignment in Argentina

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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4./5 ( download)

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Book Synopsis Tango with the Gringo:The hard peg and real misalignment in Argentina by : Enrique Alberola

Download or read book Tango with the Gringo:The hard peg and real misalignment in Argentina written by Enrique Alberola and published by World Bank Publications. This book was released on 2013 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1990 and 2001 the Argentine peso appreciated by 80 percent in real terms, and its overvaluation has been singled out as one of the main suspects in the debate on the causes of the Argentina collapse of late 2001. This paper assesses the degree of real misalignment in Argentina over the Convertibility period using a model in which the equilibrium real exchange rate is defined as the value consistent with (i) a balance of payments position where any current account imbalance is financed by a sustainable flow of international capital (external equilibrium), and (ii) traded/nontraded sector productivity differentials (internal equilibrium). Empirical implementation of the model suggests that the initial real appreciation of the peso, between 1990 and 1993, was consistent with the productivity increases that Argentina enjoyed following the stabilization of the economy after the hyperinflation of the late 1980s. But after 1996 a widening gap opened between the observed real exchange rate and that consistent with a sustainable net foreign asset position. Our estimates indicate that in 2001 the peso was overvalued by over 50 percent. The model allows us to assess how much of the overvaluation resulted from Argentina's inadequate choice of anchor currency and how much from a divergence of fundamentals between the U.S. and Argentina, ultimately due to the maintenance of policies inconsistent with the peg. We find that both factors played a role in the overvaluation accumulated between 1977 and 2001 that preceded the collapse of the Convertibility regime.

Oral Health-related Quality of Life

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Publisher : Quintessence Publishing (IL)
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Oral Health-related Quality of Life by : Marita Rohr Inglehart

Download or read book Oral Health-related Quality of Life written by Marita Rohr Inglehart and published by Quintessence Publishing (IL). This book was released on 2002 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: ABSTRACT: Helping patients achieve an optimal quality of life through patient-centered treatment planning should be the ultimate goal of all oral health care providers. However, this issue extends beyond the realm of the individual clinician's office. This text presents quality-of-life research from various fields, including psychology, public health, and general health care; discusses how a patient-centered approach can be applied to basic oral and craniofacial research, clinical dental practice, community dental health issues, and dental education; and addresses how oral health-related quality of life relates to treating and understanding different patient populations, such as children with special needs, medically compromised patients, patients with oral cancer, and patients with chronic facial pain. Also discussed is how factors such as race/ethnicity, gender, and age can affect oral health-related quality-of-life concerns and treatment strategies. Finally, the book offers an outlook on the role that oral health-related quality of life will play in future research and dental education.

Electromagnetic Analysis and Condition Monitoring of Synchronous Generators

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119636078
Total Pages : 708 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis Electromagnetic Analysis and Condition Monitoring of Synchronous Generators by : Jawad Faiz

Download or read book Electromagnetic Analysis and Condition Monitoring of Synchronous Generators written by Jawad Faiz and published by John Wiley & Sons. This book was released on 2022-12-28 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electromagnetic Analysis and Condition Monitoring of Synchronous Generators Discover an insightful and complete overview of electromagnetic analysis and fault diagnosis in large synchronous generators In Electromagnetic Analysis and Condition Monitoring of Synchronous Generators, a team of distinguished engineers delivers a comprehensive review of the electromagnetic analysis and fault diagnosis of synchronous generators. Beginning with an introduction to several types of synchronous machine structures, the authors move on to the most common faults found in synchronous generators and their impacts on performance. The book includes coverage of different modeling tools, including the finite element method, winding function, and magnetic equivalent circuit, as well as various types of health monitoring systems focusing on the magnetic field, voltage, current, shaft flux, and vibration. Finally, Electromagnetic Analysis and Condition Monitoring of Synchronous Generators covers signal processing tools that can help identify hidden patterns caused by faults and machine learning tools enabling automated condition monitoring. The book also includes: A thorough introduction to condition monitoring in electric machines and its importance to synchronous generators Comprehensive explorations of the classification of synchronous generators, including armature arrangement, machine construction, and applications Practical discussions of different types of electrical and mechanical faults in synchronous generators, including short circuit faults, eccentricity faults, misalignment, core-related faults, and broken damper bar faults In-depth examinations of the modeling of healthy and faulty synchronous generators, including analytical and numerical methods Perfect for engineers working in electrical machine analysis, maintenance, and fault detection, Electromagnetic Analysis and Condition Monitoring of Synchronous Generators is also an indispensable resource for professors and students in electrical power engineering.

Proceedings of the 15th International Ship and Offshore Structures Congress

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Author :
Publisher : Elsevier
ISBN 13 : 9780080541167
Total Pages : 860 pages
Book Rating : 4.5/5 (411 download)

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Book Synopsis Proceedings of the 15th International Ship and Offshore Structures Congress by : A.E Mansour

Download or read book Proceedings of the 15th International Ship and Offshore Structures Congress written by A.E Mansour and published by Elsevier. This book was released on 2003-06-26 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY FEATURES: Provides researchers in Ocean engineering with a thorough review of the latest research in the field Lengthy reports by leading experts A valuable resource for all interested in ocean engineering DESCRIPTION: The International Ship and Offshore Congress (ISSC) is a forum for the exchange of information by experts undertaking and applying marine structural research. These three volumes contain the eight technical committee reports, six Specialist Committee and 2 Special Task Committee reports which were presented for the 15th International Ship and Offshore Structures Congress (ISSC 2004) in San Diego USA, between 11th and 15th August 2003. Volume III will be published in 2004 and is to contain the discussion of the reports, the chairmen's reply, the text of the invited Lecture and the congress report of ISSC 2003.

Transnational Corporations

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Publisher : United Nations
ISBN 13 : 921047595X
Total Pages : 154 pages
Book Rating : 4.2/5 (14 download)

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Book Synopsis Transnational Corporations by : United Nations Conference on Trade and Development (UNCTAD)

Download or read book Transnational Corporations written by United Nations Conference on Trade and Development (UNCTAD) and published by United Nations. This book was released on 2019-06-03 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transnational Corporations is a policy-oriented journal for the publication of research on the activities of transnational corporations and their implication for economic development. Articles accepted for publication in this issue report on the following research themes: international tax

Advanced Engineering Solutions

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Publisher : Trans Tech Publications Ltd
ISBN 13 : 3038264318
Total Pages : 1010 pages
Book Rating : 4.0/5 (382 download)

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Book Synopsis Advanced Engineering Solutions by : Yu Hang Yang

Download or read book Advanced Engineering Solutions written by Yu Hang Yang and published by Trans Tech Publications Ltd. This book was released on 2014-07-30 with total page 1010 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of selected, peer reviewed papers from the 4th International Conference on Intelligent Structure and Vibration Control (ISVC) 2014, July 25-28, 2014, Chongqing, China. The 199 papers are grouped as follows: Chapter 1: Dynamics of Mechanisms and Machines, Chapter 2: Application of CAD in Mechanical Engineering, Chapter 3: Measure and Diagnosis, Algorithms and Methods for Processing Data and Signals, Chapter 4: Communication and Networks, Chapter 5: Network Security and Digital Surveillance, Chapter 6: Applied Information Technologies, Chapter 7: Multimedia Technologies, Chapter 8: Electronic Devices and Embedded Systems, Chapter 9: Mechatronics, Control and Automation, Chapter 10: Engineering Solutions for Energy Supply, Chapter 11: Building Materials and Technologies in Construction, Chapter 12: Mineral Processing, Chapter 13: Environmental Engineering and Technologies of Waste Treatment, Chapter 14: Transportation and Logistics, Chapter 15: Technologies for Sport Science, Chapter 16: Product Design and Engineering Management, Chapter 17: Researches in Area of Engineering Education