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Author :
Publisher : "la Caixa"
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4./5 ( download)
Download or read book Non Tradable Goods and The Real Exchange Rate written by and published by "la Caixa". This book was released on with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr. Haroon Mumtaz
Publisher : International Monetary Fund
ISBN 13 : 1451895534
Total Pages : 43 pages
Book Rating : 4.4/5 (518 download)
Download or read book PPP Strikes Back written by Mr. Haroon Mumtaz and published by International Monetary Fund. This book was released on 2003-04-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate half-life fall dramatically, to little more than one year, or significantly below Rogoff''s "consensus view" of three to five years. We show that corrected estimates are consistent with plausible nominal rigidities, thus, arguably, solving the PPP puzzle.
Author : Michael B. Devereux
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.3/5 ( download)
Download or read book Consumption and Real Exchange Rates in Professional Forecasts written by Michael B. Devereux and published by . This book was released on 2010 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard models of international risk sharing with complete asset markets predict a positive association between relative consumption growth and real exchange-rate depreciation across countries. The striking lack of evidence for this link the consumption/real-exchange-rate anomaly or Backus-Smith puzzle - has prompted research on risk-sharing indicators with incomplete asset markets. That research generally implies that the association holds in forecasts, rather than realizations. Using professional forecasts for 28 countries for 1990-2008 we find no such association, thus deepening the puzzle. Independent evidence on the weak link between forecasts for consumption and real interest rates suggests that the presence of 'hand-to-mouth' consumers may help to resolve the anomaly.
Author : Mr.Luis Brandao-Marques
Publisher : International Monetary Fund
ISBN 13 : 1513529730
Total Pages : 54 pages
Book Rating : 4.5/5 (135 download)
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.
Author : Ben Bernanke
Publisher : Mit Press
ISBN 13 : 9780262025034
Total Pages : 418 pages
Book Rating : 4.0/5 (25 download)
Download or read book NBER Macroeconomics Annual 2000 written by Ben Bernanke and published by Mit Press. This book was released on 2001-02-19 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: The NBER Macroeconomics Annual presents, extends, and applies pioneering work in macroeconomics and stimulates work by macroeconomists on important policy issues. Each paper in the Annual is followed by comments and discussion.
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 777 pages
Book Rating : 4.:/5 (661 download)
Download or read book Economic Consumption written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-11-06 with total page 777 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Economic Consumption The act of satisfying one's immediate needs and desires through the utilization of available resources is known as consumption. It stands in contrast to investing, which can be defined as making expenditures with the intention of acquiring future revenue. Consumption is a fundamental notion in economics, in addition to being researched in a wide variety of other fields within the social sciences. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Consumption (economics) Chapter 2: Keynesian economics Chapter 3: Macroeconomics Chapter 4: IS-LM model Chapter 5: Consumer choice Chapter 6: Aggregate demand Chapter 7: Normal good Chapter 8: Marginal propensity to consume Chapter 9: Law of demand Chapter 10: Consumption function Chapter 11: Revealed preference Chapter 12: Goods Chapter 13: Average propensity to consume Chapter 14: Permanent income hypothesis Chapter 15: Consumption smoothing Chapter 16: Multiplier (economics) Chapter 17: Keynesian cross Chapter 18: Absolute income hypothesis Chapter 19: Random walk model of consumption Chapter 20: Preference (economics) Chapter 21: Index of economics articles (II) Answering the public top questions about economic consumption. (III) Real world examples for the usage of economic consumption in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of economic consumption Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of economic consumption.
Author : Jessica James
Publisher : John Wiley & Sons
ISBN 13 : 1118445775
Total Pages : 674 pages
Book Rating : 4.1/5 (184 download)
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.
Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1589068203
Total Pages : 248 pages
Book Rating : 4.5/5 (89 download)
Download or read book IMF Staff Papers, Volume 56, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2009-07-31 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies of the impact of trade openness on growth are based either on crosscountry analysis—which lacks transparency—or case studies—which lack statistical rigor. This paper applies a transparent econometric method drawn from the treatment evaluation literature (matching estimators) to make the comparison between treated (that is, open) and control (that is, closed) countries explicit while remaining within a statistical framework. Matching estimators highlight that common cross-country evidence is based on rather far-fetched country comparisons, which stem from the lack of common support of treated and control countries in the covariate space. The paper therefore advocates paying more attention to appropriate sample restriction in crosscountry macro research.
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 755 pages
Book Rating : 4.8/5 (9 download)
Download or read book Economics written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-10-29 with total page 755 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Economics The study of the production, distribution, and consumption of different products and services is the focus of the social science known as economics. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Economics Chapter 2: Microeconomics Chapter 3: Macroeconomics Chapter 4: Kenneth Arrow Chapter 5: Monetary base Chapter 6: Neutrality of money Chapter 7: John Eatwell, Baron Eatwell Chapter 8: Liquidity preference Chapter 9: Richard Kahn, Baron Kahn Chapter 10: Neoclassical synthesis Chapter 11: The New Palgrave Dictionary of Economics Chapter 12: Lawrence E. Blume Chapter 13: Involuntary unemployment Chapter 14: Peter Kenneth Newman Chapter 15: Scarcity Chapter 16: Demographic economics Chapter 17: History of macroeconomic thought Chapter 18: Murray Milgate Chapter 19: Ross Starr Chapter 20: Non-convexity in economics Chapter 21: Convexity in economics (II) Answering the public top questions about economics. (III) Real world examples for the usage of economics in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of economics Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of economics.
Author : Jonathan J. Adams
Publisher : International Monetary Fund
ISBN 13 : 1484336496
Total Pages : 48 pages
Book Rating : 4.4/5 (843 download)
Download or read book Why are Countries’ Asset Portfolios Exposed to Nominal Exchange Rates? written by Jonathan J. Adams and published by International Monetary Fund. This book was released on 2017-12-22 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most countries hold large gross asset positions, lending in domestic currency and borrowing in foreign. Thus, their balance sheets are exposed to nominal exchange rates. We argue that when asset markets are incomplete, nominal exchange rate exposure allows countries to partially insure against shocks that move real exchange rates. We demonstrate that asset market incompleteness can simultaneously generate realistic gross asset positions and resolve the Backus-Smith puzzle: that relative consumptions and real exchange rates correlate negatively. We also show that local perturbation methods that use stabilizing endogenous discount factors are inaccurate when average and steady state interest rates differ. To address this, we develop a novel global solution method to accurately solve the model.
Author :
Publisher : PediaPress
ISBN 13 :
Total Pages : 1231 pages
Book Rating : 4./5 ( download)
Download or read book Financial Derivatives written by and published by PediaPress. This book was released on with total page 1231 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jesper Lindé
Publisher : International Monetary Fund
ISBN 13 : 1484306112
Total Pages : 54 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Macroeconomic Effects of Trade Tariffs written by Jesper Lindé and published by International Monetary Fund. This book was released on 2017-07-07 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the robustness of the Lerner symmetry result in an open economy New Keynesian model with price rigidities. While the Lerner symmetry result of no real effects of a combined import tariff and export subsidy holds up approximately for a number of alternative assumptions, we obtain quantitatively important long-term deviations under complete international asset markets. Direct pass-through of tariffs and subsidies to prices and slow exchange rate adjustment can also generate significant short-term deviations from Lerner. Finally, we quantify the macroeconomic costs of a trade war and find that they can be substantial, with permanently lower income and trade volumes. However, a fully symmetric retaliation to a unilaterally imposed border adjustment tax can prevent any real or nominal effects.
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 415 pages
Book Rating : 4.2/5 (22 download)
Download or read book Engineering Economics written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-12-17 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Engineering Economics For information on how engineering economics can be utilized in the field of civil engineering, please refer to the section on engineering economics. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Engineering economics Chapter 2: Perfect competition Chapter 3: Opportunity cost Chapter 4: Cash flow Chapter 5: Net present value Chapter 6: Index of economics articles Chapter 7: Fixed capital Chapter 8: Cost Chapter 9: Health economics Chapter 10: Valuation (finance) Chapter 11: Cost of capital Chapter 12: Rate of profit Chapter 13: Business valuation Chapter 14: Equivalent annual cost Chapter 15: International business Chapter 16: Minimum acceptable rate of return Chapter 17: Profit (economics) Chapter 18: Constant capital Chapter 19: Surplus value Chapter 20: Glossary of economics Chapter 21: Engineering economics (civil engineering) (II) Answering the public top questions about engineering economics. (III) Real world examples for the usage of engineering economics in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of engineering economics. (eBook only). Who will benefit Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of engineering economics.
Author :
Publisher : "la Caixa"
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4./5 ( download)
Download or read book Cointegrated TFP Processes and International Business Cycles written by and published by "la Caixa". This book was released on with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 875 pages
Book Rating : 4.:/5 (661 download)
Download or read book Science Branches written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-11-07 with total page 875 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Science Branches The sciences, often known as scientific areas or scientific disciplines, are typically subdivided into the following three primary categories:The study of formal systems, such as those that fall within the categories of logic and mathematics, that employ an a priori methodology, as opposed to an empirical one, is referred to as the formal sciences.The study of natural occurrences is referred to as the natural sciences. There are two primary sub-disciplines that make up natural science: the physical sciences and the life sciences.The study of human behavior in relation to society and culture is referred to as the social sciences. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Branches of science Chapter 2: Sociology Chapter 3: Economic policy Chapter 4: Macroeconomics Chapter 5: Keynesian economics Chapter 6: Theory Chapter 7: Theoretical chemistry Chapter 8: Natural science Chapter 9: Reductionism Chapter 10: Social science Chapter 11: Interdisciplinarity Chapter 12: History of the social sciences Chapter 13: Musicology Chapter 14: Political science Chapter 15: Branches of physics Chapter 16: Discourse analysis Chapter 17: Behavioural sciences Chapter 18: Philosophy of social science Chapter 19: European studies Chapter 20: Fiscal policy Chapter 21: Phillips curve (II) Answering the public top questions about science branches. (III) Real world examples for the usage of science branches in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of science branches Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of science branches.
Author : V. V. Chari
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (318 download)
Download or read book Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates? written by V. V. Chari and published by . This book was released on 2000 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central puzzle in international business cycles is that real exchange rates are volatile and persistent. The most popular story for real exchange rate fluctuations is that they are generated by monetary shocks interacting with sticky goods prices. We quantify this story and find that it can account for some of the observed properties of real exchange rates. When prices are held fixed for at least one year, risk aversion is high and preferences are separable in leisure, the model generates real exchange rates that are as volatile as in the data. The model also generates real exchange rates that are persistent, but less so than in the data. If monetary shocks are correlated across countries, then the comovements in aggregates across countries are broadly consistent with those in the data. Making asset markets incomplete or introducing sticky wages does not measurably change the results.
Author : Mr.Eugenio M Cerutti
Publisher : International Monetary Fund
ISBN 13 : 1484395212
Total Pages : 36 pages
Book Rating : 4.4/5 (843 download)
Download or read book Covered Interest Parity Deviations: Macrofinancial Determinants written by Mr.Eugenio M Cerutti and published by International Monetary Fund. This book was released on 2019-01-16 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial drivers of the variation in CIP deviations have also become significant. The variation in CIP deviations seems to be associated with multiple factors, not only regulatory changes. Most of these do not display a uniform importance across currency pairs and time, and some are associated with possible temporary considerations (such as asynchronous monetary policy cycles).
