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The Anatomy Of An International Monetary Regime
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Book Synopsis The Anatomy of an International Monetary Regime by : Giulio M. Gallarotti
Download or read book The Anatomy of an International Monetary Regime written by Giulio M. Gallarotti and published by Oxford University Press, USA. This book was released on 1995 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: He challenges traditional assumptions about the period, arguing that cooperation among nations or central banks was not a principal factor in either the origin or stability of the system, and that neither the British state nor the Bank of England were the leaders or managers of the gold standard.
Book Synopsis The Anatomy of the VAT by : Mr.Michael Keen
Download or read book The Anatomy of the VAT written by Mr.Michael Keen and published by International Monetary Fund. This book was released on 2013-05-16 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out some tools for understanding the performance of the value added tax (VAT). Applying a decomposition of VAT revenues (as a share of GDP) to the universe of VATs over the last twenty years, it emerges that developments have been driven much less by changes in standard rates than by changes in ‘C-efficiency’ (an indicator of the departure of the VAT from a perfectly enforced tax levied at a uniform rate on all consumption). Decomposing C-efficiency into a ‘policy gap’ (in turn divided into effects of rate differentiation and exemption) and a ‘compliance’ gap (reflecting imperfect implementation), results pieced together for EU members suggest that the former are in almost all cases far larger than the latter, with rate differentiation and exemptions playing roles that differ quite widely across countries.
Book Synopsis Anatomy and Consequences of Exchange Control Regimes by :
Download or read book Anatomy and Consequences of Exchange Control Regimes written by and published by . This book was released on 1978 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Evolution of the International Monetary System by : Robert Triffin
Download or read book The Evolution of the International Monetary System written by Robert Triffin and published by . This book was released on 1964 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Anatomy of the Transmission of Macroprudential Policies by : Viral V. Acharya
Download or read book The Anatomy of the Transmission of Macroprudential Policies written by Viral V. Acharya and published by International Monetary Fund. This book was released on 2020-05-22 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze how regulatory constraints on household leverage—in the form of loan-to-income and loan-to-value limits—a?ect residential mortgage credit and house prices as well as other asset classes not directly targeted by the limits. Supervisory loan level data suggest that mortgage credit is reallocated from low-to high-income borrowers and from urban to rural counties. This reallocation weakens the feedback loop between credit and house prices and slows down house price growth in “hot” housing markets. Consistent with constrained lenders adjusting their portfolio choice, more-a?ected banks drive this reallocation and substitute their risk-taking into holdings of securities and corporate credit.
Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Book Synopsis Globalization in Historical Perspective by : Michael D. Bordo
Download or read book Globalization in Historical Perspective written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-11-01 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.
Book Synopsis Monetary Policy Transmission in Emerging Markets and Developing Economies by : Mr.Luis Brandao-Marques
Download or read book Monetary Policy Transmission in Emerging Markets and Developing Economies written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2020-02-21 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Book Synopsis A Retrospective on the Bretton Woods System by : Michael D. Bordo
Download or read book A Retrospective on the Bretton Woods System written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-12-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.
Book Synopsis Transatlantic Politics and the Transformation of the International Monetary System by : Michelle Frasher
Download or read book Transatlantic Politics and the Transformation of the International Monetary System written by Michelle Frasher and published by Routledge. This book was released on 2013-09-05 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: With original archival documents and interviews from the US and Europe, Michelle Frasher brings the reader into the negotiating room with American, German, and French officials as they confronted the collapse of the Bretton Woods monetary system and made decisions that affected the course of European integration and the contemporary neoliberal order. She identifies crisis as the catalyst for change in international monetary policies, but argues that the causes of crisis originated from a multitude of factors such as market speculation, American hegemony, institutional flaws, and ideational conflicts among the leaders themselves. Far from a planned and consensual process, this book shows that the transformation to neoliberalism was riddled with discord and fret with trial and error. She argues that the resulting currency regime allowed governments to entrench themselves in national interests and facilitated the "marketization" of the state, where states have became both clients and participants in the financialized global economy—to the detriment of international stability. Frasher’s is the first work to connect the 1960s and 1970s to the difficulties of inter-state and inter-market cooperation that have plagued the system in the last decades, and it puts the 2008 debacle into historical perspective.
Book Synopsis An Anatomy of Credit Booms by : Mr.Marco Terrones
Download or read book An Anatomy of Credit Booms written by Mr.Marco Terrones and published by International Monetary Fund. This book was released on 2008-09-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also find that credit booms are larger in emerging economies, particularly in the nontradables sector; most emerging markets crises are associated with credit booms; and credit booms in emerging economies are often preceded by large capital inflows but not by financial reforms or productivity gains.
Book Synopsis Handbook of Exchange Rates by : Jessica James
Download or read book Handbook of Exchange Rates written by Jessica James and published by John Wiley & Sons. This book was released on 2012-05-29 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Handbook of Exchange Rates “This book is remarkable. I expect it to become the anchor reference for people working in the foreign exchange field.” —Richard K. Lyons, Dean and Professor of Finance, Haas School of Business, University of California Berkeley “It is quite easily the most wide ranging treaty of expertise on the forex market I have ever come across. I will be keeping a copy close to my fingertips.” —Jim O’Neill, Chairman, Goldman Sachs Asset Management How should we evaluate the forecasting power of models? What are appropriate loss functions for major market participants? Is the exchange rate the only means of adjustment? Handbook of Exchange Rates answers these questions and many more, equipping readers with the relevant concepts and policies for working in today’s international economic climate. Featuring contributions written by leading specialists from the global financial arena, this handbook provides a collection of original ideas on foreign exchange (FX) rates in four succinct sections: • Overview introduces the history of the FX market and exchange rate regimes, discussing key instruments in the trading environment as well as macro and micro approaches to FX determination. • Exchange Rate Models and Methods focuses on forecasting exchange rates, featuring methodological contributions on the statistical methods for evaluating forecast performance, parity relationships, fair value models, and flow–based models. • FX Markets and Products outlines active currency management, currency hedging, hedge accounting; high frequency and algorithmic trading in FX; and FX strategy-based products. • FX Markets and Policy explores the current policies in place in global markets and presents a framework for analyzing financial crises. Throughout the book, topics are explored in-depth alongside their founding principles. Each chapter uses real-world examples from the financial industry and concludes with a summary that outlines key points and concepts. Handbook of Exchange Rates is an essential reference for fund managers and investors as well as practitioners and researchers working in finance, banking, business, and econometrics. The book also serves as a valuable supplement for courses on economics, business, and international finance at the upper-undergraduate and graduate levels.
Book Synopsis The Global Gold Market and the International Monetary System from the late 19th Century to the Present by : S. Bott
Download or read book The Global Gold Market and the International Monetary System from the late 19th Century to the Present written by S. Bott and published by Springer. This book was released on 2013-10-06 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using an inter-disciplinary and global approach this book examines the different roles gold played in the international economy from the late 19th century until today. It gives a complete and comprehensive overview of the many facets of the global gold market's organization from the extraction of this precious metal to its consumption.
Book Synopsis The Evolution of the International Monetary Fund by : Frank Allan Southard
Download or read book The Evolution of the International Monetary Fund written by Frank Allan Southard and published by . This book was released on 1979 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Meeting Globalization's Challenges by : Luís Catão
Download or read book Meeting Globalization's Challenges written by Luís Catão and published by Princeton University Press. This book was released on 2019-11-05 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the US, in Europe, and throughout the world, globalization, in tandem with technological progress, has left a massive number of people behind, feeling dispossessed, disenfranchised, and angry. Leading the charge of "hyperglobalization" during the second half of the last century, and enforcing the Western framework of austerity in the developing world has been the International Monetary Fund. Along with the World Bank and WTO, many consider the IMF one of the most consequential institutions to have pushed the world economy blindly towards excessive globalization, while not adequately considering its powerful negative consequences. In October 2017, however, the IMF convened with some of the world's most celebrated economists and experts on trade and globalization to have an honest discussion on the most pressing concerns the world faces today as a result of globalization, and how to address the extensive challenges it has created. Edited by chief economist Maurice Obstfeld and senior economist Luis Catao of the IMF, the book brings together a team of respected senior economists with the most promising younger scholars to address five major themes: how globalization affects economic growth and social welfare; potential political implications of an honest discussion of globalization, and that "free trade may not be politically viable"; free trade's role in global inequality; how workers adjust or not when they're dislocated by globalization; and how trade policy influences the way countries develop their economies and societies. The book could represent a historic milestone at which the world's top economists and policymakers have an unprecedented, honest debate about the real costs and consequences of globalization"--
Book Synopsis Exchange Rate Regimes by : Atish R. Ghosh
Download or read book Exchange Rate Regimes written by Atish R. Ghosh and published by MIT Press. This book was released on 2002 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.
Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens
Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
