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Author : Giuseppe Tullio
Publisher : Springer
ISBN 13 : 1349050482
Total Pages : 148 pages
Book Rating : 4.3/5 (49 download)
Download or read book The Monetary Approach to External Adjustment written by Giuseppe Tullio and published by Springer. This book was released on 1981-06-18 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Augustine C. Arize
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1567507018
Total Pages : 275 pages
Book Rating : 4.5/5 (675 download)
Download or read book Balance of Payments Adjustment written by Augustine C. Arize and published by Bloomsbury Publishing USA. This book was released on 2000-01-30 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The five parts of this collection of essays systematically and thoroughly examine the two competing theories of balance of payments and adjustment, namely the Keynesian and the Monetary approaches. Each part deals with specific aspects of the two approaches. Part I surveys the theories behind these two approaches, looking at the presuppositions, main theory, and policy recommendations which they include. Part II examines the empirical literature and describes the numerous models which have been proposed. Part III critiques the two theories on their assumptions, policy advice and empirical modeling. Part IV compares and contrasts the two views, both theoretically and empirically. Empirical studies on different countries are performed to emphasize the differing set of accounts and variables of the two approaches. Part V considers the approaches in a regime of flexible exchange rates. Scholars, students and researchers will find this collection of great help in understanding the two approaches to balance of payments and adjustment.
Author : Mr.Fabio Ghironi
Publisher : International Monetary Fund
ISBN 13 : 1451874200
Total Pages : 46 pages
Book Rating : 4.4/5 (518 download)
Download or read book The Valuation Channel of External Adjustment written by Mr.Fabio Ghironi and published by International Monetary Fund. This book was released on 2009-12-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: International financial integration has greatly increased the scope for changes in a country's net foreign asset position through the valuation channel, namely capital gains and losses on external assets and liabilities. We examine this valuation channel in a dynamic equilibrium portfolio model with international trade in equity. By separating asset prices and quantities, we can characterize the first-order dynamics of valuation effects and the current account in macroeconomic dynamics. Specifically, we disentangle the roles of excess returns, capital gains, and portfolio adjustment for consumption risk sharing when financial markets are incomplete.
Author : Daniel R. Kane
Publisher : Routledge
ISBN 13 : 1351043544
Total Pages : 251 pages
Book Rating : 4.3/5 (51 download)
Download or read book Principles of International Finance written by Daniel R. Kane and published by Routledge. This book was released on 2018-03-15 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of International Finance, first published in 1988, provides a comprehensive introduction to international finance which is rapidly becoming an increasingly important branch of international economics. The book is structured so that it can easily be adopted as a complete one-semester course in international finance and is divided into the four major divisions of international finance: The Foreign Exchange Market and the Balance of Payments; Exchange Rate Systems; Equilibrium and the Adjustment Process and The Post-War International Financial System. This book is designed for economics and business undergraduates studying international finance for the first time. It is non-mathematical and presumes no more than a general background in macroeconomics.
Author : Jacob Frenkel
Publisher : Routledge
ISBN 13 : 1135043493
Total Pages : 389 pages
Book Rating : 4.1/5 (35 download)
Download or read book The Monetary Approach to the Balance of Payments written by Jacob Frenkel and published by Routledge. This book was released on 2013-07-18 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a return to the historical traditions of international monetary theory after some thirty years of departure from them – a departure occasioned by the international collapse of the 1930s, the Keynesian Revolution and a long period of war and post-war reconstruction in which the international monetary system was fragmented by exchange controls, currency inconvertibility and controls over international trade and capital movements.
Author : Anthony J. Makin
Publisher : Springer
ISBN 13 : 0230379095
Total Pages : 157 pages
Book Rating : 4.2/5 (33 download)
Download or read book International Capital Mobility and External Account Determination written by Anthony J. Makin and published by Springer. This book was released on 1994-08-16 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the causes, consequences and policy significance of international capital movements and nations' external account imbalances. Traditional theoretical approaches to balance of payments analysis, such as the classical, elasticities, absorption, monetary and Mundell-Fleming models are critically evaluated against an extended international macroeconomic accounting framework. More meaningful capital theoretic models then link saving, investment and foreign capital movements to highlight the macroeconomic gains from international capital mobility and international trade in saving.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451926316
Total Pages : 62 pages
Book Rating : 4.4/5 (519 download)
Download or read book Toward a Growth-Oriented Model of Financial Programming written by International Monetary Fund and published by International Monetary Fund. This book was released on 1987-01-01 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends the basic monetary model that underlies the monetary approach to the balance of payments to allow for the endogenous determination of the short-run growth rate of the economy. In the extended model domestic credit expansion affects not only the balance of payments but also the output growth rate, which bears implications for the formulation of credit ceilings. Furthermore, the amount of external financing can influence both the output growth rate and the balance of payments outcome, unlike with the basic model. An integrated treatment of exchange rate adjustment involving both absorption and elasticity effects is provided.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451951841
Total Pages : 30 pages
Book Rating : 4.4/5 (519 download)
Download or read book External Adjustment and the Optimal Demand for International Reserves written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-10-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a theoretical underpinning for the major determinants of optimal reserve demand in the case where fundamental disequilibrium constitutes a key element governing reserve management. Emphasis is given to the role of reserves to smooth the process of economic adjustment by financing part of external disequilibrium, as well as to meet temporary random fluctuations in the excess demand for foreign exchange. The analysis incorporates this financing aspect of reserve holdings into a simple inventory model and discusses the optimal stock of reserves in the context of the optimal mix of adjustment and financing.
Author : A. Sommariva
Publisher : Springer
ISBN 13 : 1349065919
Total Pages : 279 pages
Book Rating : 4.3/5 (49 download)
Download or read book German Macroeconomic History, 1880-1979 written by A. Sommariva and published by Springer. This book was released on 1987-06-18 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : A. Makin
Publisher : Springer
ISBN 13 : 0230504035
Total Pages : 213 pages
Book Rating : 4.2/5 (35 download)
Download or read book Global Finance and the Macroeconomy written by A. Makin and published by Springer. This book was released on 2016-01-08 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides new ways of analyzing the key issues in international finance and open economy macroeconomics. The topics covered include: financial globalization and the evolution of the international financial system; international macroeconomic accounting and measurement; early balance of payments approaches; the intertemporal model of international borrowing and lending; the significance of external deficits; the determinants of interest rate differentials and exchange rates; the effectiveness of monetary and fiscal policies; capital mobility and economic growth; and the causes of financial crisis in emerging economies.
Author : Ryota Nakatani
Publisher : International Monetary Fund
ISBN 13 : 1484331834
Total Pages : 36 pages
Book Rating : 4.4/5 (843 download)
Download or read book External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea written by Ryota Nakatani and published by International Monetary Fund. This book was released on 2017-12-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should resource-rich economies handle the balance of payments adjustment required after commodity price declines? This paper addresses the question theoretically by developing a simple two-period multi-sector model based on Nakatani (2016) to compare different exchange rate policies, and empirically by estimating elasticities of imports and commodity exports with respect to exchange rates using Papua New Guinean data. In the empirical part, using various econometric methods, I find the statistically significant elasticities of commodity exports to real exchange rates. In the theoretical part, by introducing the notion of a shadow exchange rate premium, I show how the rationing of foreign exchange reduces consumer welfare. Using the estimated elasticities and theoretical outcomes, I further discuss policy implications for resource-rich countries with a focus on Papua New Guinea.
Author : Jaewoo Lee
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (16 download)
Download or read book The Valuation Channel of External Adjustment written by Jaewoo Lee and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: International financial integration has greatly increased the scope for changes in a country''s net foreign asset position through the valuation channel, namely capital gains and losses on external assets and liabilities. We examine this valuation channel in a dynamic equilibrium portfolio model with international trade in equity. By separating asset prices and quantities, we can characterize the first-order dynamics of valuation effects and the current account in macroeconomic dynamics. Specifically, we disentangle the roles of excess returns, capital gains, and portfolio adjustment for consumption risk sharing when financial markets are incomplete.
Author : Ms.Joaquín Muns
Publisher : International Monetary Fund
ISBN 13 : 9780939934287
Total Pages : 232 pages
Book Rating : 4.9/5 (342 download)
Download or read book Adjustment, Conditionality, and International Financing written by Ms.Joaquín Muns and published by International Monetary Fund. This book was released on 1984-09-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Joaquín Muns, contains papers presented at a seminar in Viña del Mar, Chile, under the sponsorship of the Central Bank of Chile, the Federico Santa María University, and the IMF.
Author : A. Vasudevan
Publisher : Academic Foundation
ISBN 13 : 9788171883189
Total Pages : 328 pages
Book Rating : 4.8/5 (831 download)
Download or read book Money and Banking written by A. Vasudevan and published by Academic Foundation. This book was released on 2003 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Commendable Book Edited By Dr. A. Vasudevan, A Leading Monetary Economist, Focuses On Money, Monetary Policy And Banking Issues - Areas In Which The Reserve Bank`S Expertise Is Widely Recognised.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781557752772
Total Pages : 300 pages
Book Rating : 4.7/5 (527 download)
Download or read book The Monetary Approach to the Balance of Payments written by International Monetary Fund and published by International Monetary Fund. This book was released on 1977-09-15 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together several of the most important research papers on the monetary approach to the balance of payments prepared by IMF staff members. The 11 papers record, the contribution made by the IMF's staff to the development of the monetary approach, which is now widely accepted by academic economists and policymakers alike.
Author : Marin Muzhani
Publisher : Vernon Press
ISBN 13 : 1622734238
Total Pages : 386 pages
Book Rating : 4.6/5 (227 download)
Download or read book Fixed or Flexible Exchange Rates? History and Perspectives written by Marin Muzhani and published by Vernon Press. This book was released on 2018-05-15 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book compares and contrasts flexible versus fixed exchange rate regimes. Beginning with their theoretical justifications, it showcases their observed advantages and disadvantages as they played out in the currency crises of the 1990s and early 2000s across Asia, Europe and Latin America. An analysis of the drivers and implications of these crises singles out fast-paced liberalization and globalization as having played central roles. Moreover it sheds light on some of the factors contributing to the 2008 financial crisis and the key monetary events in its aftermath. An accessible, yet rigorous discussion, supported by extensive evidence, helps readers reach their own conclusions regarding the respective merits of alternative exchange rate systems.
Author : L. Gomes
Publisher : Springer
ISBN 13 : 0230375421
Total Pages : 362 pages
Book Rating : 4.2/5 (33 download)
Download or read book The International Adjustment Mechanism written by L. Gomes and published by Springer. This book was released on 1993-07-20 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the history of thought and policy on the international adjustment mechanism. Economics emerged as a discipline in its own right largely out of the accumulated reflections, analyses and judgements of a group of writers from the sixteenth to the early nineteenth century who shared a common perspective on matters relating to the adjustment of the balance of payments. The present survey starts with the development of the doctrine at that time and continues the story up to the present debate on economic and monetary union in Europe.
