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Author : Valentijn van Nieuwenhuijzen
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.3/5 ( download)
Download or read book Collapsing Controlled Exchange Rates written by Valentijn van Nieuwenhuijzen and published by . This book was released on 1999 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George S. Tavlas
Publisher : Springer Science & Business Media
ISBN 13 : 1461562899
Total Pages : 247 pages
Book Rating : 4.4/5 (615 download)
Download or read book The Collapse of Exchange Rate Regimes written by George S. Tavlas and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: ical) and to self-fulfilling currency crisis, respectively. Research stressing the former approach was pioneered by Krugman (1979) and Flood and Garber (1984). According to this line of research, the failure of governments to adopt domestic monetary and fiscal policies consistent with their stated exchange rate targets leads to a gradual diminution of reserves and eventually a stock adjustment that depletes reserves suddenly in one attack (Sachs, Tornell, and Velasco, 1996, page 47). The result is either a devaluation of the exchange rate or a switch to floating. Subsequent work of this genre has specified a number of other channels, in addition to that involving inconsistent and unsustainable monetary and fiscal policies, that can precipitate an attack: 1. Inconsistency between external and internal objectives. The stances of monetary and fiscal policies may be consistent with the authorities' exchange rate target, but domestic economic indicators (such as the unemployment rate) may be inconsistent with internal balance, resulting in pressures on the authorities to relax macroeconomic policies. Private agents, aware of this inconsistency, perceive an opportunity for profits from a currency devaluation and precipitate an attack. 2. Contagion effects. Prior to an attack on another currency (say that of country B), the market may view a country's (say, country A's) exchange rate as consistent with economic fundamentals and, thus, sustainable.
Author : Linda S. Goldberg
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)
Download or read book Collapsing Exchange Rate Regimes written by Linda S. Goldberg and published by . This book was released on 1988 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patterns in domestic credit creation stemming from inconsistent fiscal policies have received widespread attention for aggravating speculative attacks on central bank foreign exchange reserves and contributing to the collapse of exchange rate regimes. This paper acknowledges the importance of monetary and fiscal discipline, but also emphasizes the importance of other random shocks to the domestic money market, most notably shocks from external credit supplies and relative prices. Policies of the domestic fiscal authorities are only partial catalysts for speculative attacks on a currency. Expansion of domestic credit stemming from the monetization of fiscal imbalances may be dominated by involuntary domestic credit expansions necessitated by surprise shortages in supplies of external capital. Further, the unexpected availability of external capital translates into a lower net critical reserve floor, making the depletion of central bank reserves by a speculative attack more difficult to accomplish. Also of considerable importance are relative price shocks which directly influence the probability of collapse by randomizing the demand for nominal money balances. Empirical studies of exchange rate crises that neglect these considerations will produce biased estimates of both expected collapse probabilities and anticipated post-collapse exchange rates.
Author : Linda S. Goldberg
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.:/5 (318 download)
Download or read book Predicting Exchange Rate Crises written by Linda S. Goldberg and published by . This book was released on 1990 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper predicts ex-ante the probability of currency crises end size of expected devaluations month by month for Mexico between 1980 and 1986 using a heterodox linear discrete time model of exchange rate crises. The forces contributing to speculative attacks on the Mexican peso include internal money creation, external credit shocks, and relative price shocks. The framework proves highly successful for generating forecasts of the probability of speculative attacks on the peso and for predicting lower bounds for post- collapse exchange rates using a range of assumptions about critical levels of central bank reserve floors. Simulation results suggest that reducing domestic credit growth, increasing the uncertainty surrounding this growth, and reducing the size and perhaps increasing the frequency of currency realignments might have greatly reduced the amount of currency speculation against the peso in some of the crisis periods between 1980 and 1986.
Author : Susan M. Collins
Publisher : Brookings Institution Press
ISBN 13 : 9780815706823
Total Pages : 252 pages
Book Rating : 4.7/5 (68 download)
Download or read book Brookings Trade Forum: 2002 written by Susan M. Collins and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency crises are extremely perplexing problems, initially erupting in a country's financial markets and spreading throughout a country's economy and beyond—often with devastating consequences for real economic activity. Experts on the two most recent crises—in Argentina and Turkey—together with others who have studied currency crises more broadly, examine why such crises continue to erupt and how to mitigate their impact, possibly preventing additional crises in the future. Argentina's Avoidable Crisis: Bad Luck, Bad Economics, Bad Politics, Bad Advice Andrew Powell, Universidad Torcuato di Tella Hard Money's Soft Underbelly: Understanding the Argentine Crisis Ricardo Hausmann, Harvard University Andrés Velasco, Harvard University Banking Sector Fragility and Turkey's 2000–01 Financial Crisis Fatih Özatay, Merkez Bankasi Güven Sak, Merkez Bankasi Panel: Lessons of Recent Currency Crises Morris Goldstein, Institute for International Economics Currency Crises: A Practitioner's View Jose Luis Machinea, Inter-American Development Bank Does East Asia Need a New Development Paradigm? Yung Chul Park, Korea University Currency crises are extremely perplexing problems, initially erupting in a country's financial markets and spreading throughout a country's economy and beyond—often with devastating consequences for real economic activity. Experts on the two most recent crises—in Argentina and Turkey—together with others who have studied currency crises more broadly, examine why such crises continue to erupt and how to mitigate their impact, possibly preventing additional crises in the future. Argentina's Avoidable Crisis: Bad Luck, Bad Economics, Bad Politics, Bad Advice Andrew Powell, Universidad Torcuato di Tella Hard Money's Soft Underbelly: Understanding the Argentine Crisis Ricardo Hausmann, Harvard University Andrés Velasco, Harvard University Banking Sector Fragility and Turkey's 2000–01 Financial Crisis Fatih Özatay, Merkez Bankasi Güven Sak, Merkez Bankasi Panel: Lessons of Recent Currency Crises Morris Goldstein, Institute for International Economics Currency Crises: A Practitioner's View Jose Luis Machinea, Inter-American Development Bank Does East Asia Need a New Development Paradigm? Yung Chul Park, Korea University
Author : Lars Mjoset
Publisher : Emerald Group Publishing
ISBN 13 : 0857247778
Total Pages : 433 pages
Book Rating : 4.8/5 (572 download)
Download or read book The Nordic Varieties of Capitalism written by Lars Mjoset and published by Emerald Group Publishing. This book was released on 2011-11-23 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of the political economy of the five Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). It emphasizes the variety of experiences within the Nordic realm, from the dramatic collapse of Iceland's economy as the financial bubble burst in 2008 to the full-employment oil-economy of Norway.
Author : Charif Majdalani
Publisher : Other Press, LLC
ISBN 13 : 1635421799
Total Pages : 159 pages
Book Rating : 4.6/5 (354 download)
Download or read book Beirut 2020: Diary of the Collapse written by Charif Majdalani and published by Other Press, LLC. This book was released on 2021-08-03 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Literature Today: Notable Translation of the Year PopMatters: Best Book of the Year Told in elegant, evocative prose, a devastating and necessary testament to the August explosion that thoughtfully examines the crises that preceded it and its aftermath. At the start of the summer of 2020, in a Lebanon ruined by economic crisis and political corruption, in an exhausted Beirut still rising up for true democracy while the world was paralyzed by the coronavirus, Charif Majdalani set about writing a journal. He intended to bear witness to this terrible, confusing time, and perhaps endure it by putting it into words. Using small, everyday interactions—with fellow restaurant patrons, repairmen, the father of his wife’s patient, a young Syrian refugee—as openings to address larger systemic problems, he explains how events in Lebanon’s recent history led to this point. Then, on August 4, the explosion of 2,750 tons of ammonium nitrate in the port of Beirut devastated the city and the country. Majdalani’s chronicle suddenly became a record of the catastrophe, which left more than two hundred dead and thousands injured, and the massive public outcry that followed. In the midst of the senseless chaos and grief, however, he continues to find cause for hope in the kindness and resilience of those determined to stay and rebuild.
Author : Derek H. Aldcroft
Publisher : Taylor & Francis
ISBN 13 : 135193791X
Total Pages : 340 pages
Book Rating : 4.3/5 (519 download)
Download or read book Exchange Rates and Economic Policy in the 20th Century written by Derek H. Aldcroft and published by Taylor & Francis. This book was released on 2017-07-05 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The themes of this study are the exchange rate regimes chosen by policy makers in the twentieth century, the means used to maintain these regimes, and the impact of these decisions on individual national economies and the world economy in general. The book draws heavily on new research showing the lessons and the legacy left for policy makers by the gold standard and the attempt at its resurrection in the 1920s. In examining issues such as the gold exchange standard, the gold bullion standard, the experience of floating exchange rates, the Bretton Woods arrangements, the EMS and the ERM, and the Currency Board approach, there is a conscious attempt to draw out the relevance of history for policy makers now.
Author :
Publisher :
ISBN 13 :
Total Pages : 1044 pages
Book Rating : 4.3/5 (511 download)
Download or read book USITC Publication written by and published by . This book was released on 1986 with total page 1044 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 764 pages
Book Rating : 4.3/5 ( download)
Download or read book Operation of the Trade Agreements Program written by and published by . This book was released on 1986 with total page 764 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ziya Onis
Publisher : Routledge
ISBN 13 : 1135758689
Total Pages : 210 pages
Book Rating : 4.1/5 (357 download)
Download or read book The Turkish Economy in Crisis written by Ziya Onis and published by Routledge. This book was released on 2004-08-02 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a set of critical perspectives on the economic crises of 2000 and 2001 focusing on both the origins and consequences of the crises. Attention is drawn to the role of domestic actors as well as key external actors such as the International Monetary Fund in precipitating the twin crises.
Author : David F. DeRosa
Publisher : John Wiley & Sons
ISBN 13 : 1118415558
Total Pages : 416 pages
Book Rating : 4.1/5 (184 download)
Download or read book Foreign Exchange Operations written by David F. DeRosa and published by John Wiley & Sons. This book was released on 2013-10-07 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ultimate nuts-and-bolts guide to foreign exchange operations The foreign exchange landscape is particularly risky since so much of the world is unregulated and takes place over the counter (off exchange). Brilliant traders and money managers who are profitable may find themselves underperforming, or worse, losing, simply because they failed to establish strong operations. In this book, David DeRosa provides industry players with everything they need for strong operational functions from all the types of trades to execution, master trading agreements, documentation, settlement, margin and collateral, and prime brokerage services. Contains vital work flow solutions for trading in the volatile foreign exchange marketplace Offers information for mastering the operational aspect of foreign exchange trading to help determine best partners such as prime brokers and others Written by David DeRosa a leading foreign exchange expert who has consulted to hundreds of financial institutions Foreign Exchange Operations helps traders mitigate risks and offers a guide to all aspects of trading operations from mastering trading agreements to margin documentation.
Author :
Publisher :
ISBN 13 :
Total Pages : 296 pages
Book Rating : 4.3/5 ( download)
Download or read book CPB Report written by and published by . This book was released on 1999 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter M. Haas
Publisher : CQ Press
ISBN 13 : 1544350252
Total Pages : 649 pages
Book Rating : 4.5/5 (443 download)
Download or read book Controversies in Globalization written by Peter M. Haas and published by CQ Press. This book was released on 2012-11-30 with total page 649 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debate style readers can be powerful teaching tools, but they are only effective in so far as the readings really speak to one another. Without readings in true dialogue, the crux of the debate is lost on students, the reader fails to add real depth to the course, and students are left in the lurch. Controversies in Globalization solves this issue by inviting 17 pairs of scholars and practitioners to write specifically for the volume, directly addressing current and relevant questions in international relations through concise "yes" and "no" pieces on topics related to security, political economy, the environment, public health, democracy, demography, and social issues like gender and ethnicity. At the request of reviewers, new to this edition are three chapters covering the financial crisis, maritime security, and international conflict. Providing students with necessary context, the editors offer introductions that effectively frame the debate and make clear what is at stake, both from a theoretical as well as from a practical perspective. Concluding discussion questions in each chapter encourage critical thinking and analysis. Haas and Hird′s edited collection helps readers come to terms with the varying perspectives on globalization, and urges critical reflection and the exploration of alternate views.
Author : Laurent L. Jacque
Publisher : John Wiley & Sons
ISBN 13 : 1119550483
Total Pages : 833 pages
Book Rating : 4.1/5 (195 download)
Download or read book International Corporate Finance written by Laurent L. Jacque and published by John Wiley & Sons. This book was released on 2019-10-30 with total page 833 pages. Available in PDF, EPUB and Kindle. Book excerpt: As globalization is redefining the field of corporate finance, international finance is now part and parcel of the basic literacy of any financial executive. This is why International Corporate Finance is a “must” text for upper-undergraduates, MBAs aspiring to careers in global financial services and budding finance professionals. International Corporate Finance offers thorough coverage of the international monetary system, international financing, foreign exchange risk management and cross-border valuation. Additionally, the book offers keen insight on how disintermediation, deregulation and securitization are re-shaping global capital markets. What is different about International Corporate Finance? Each chapter opens with a real-life mini-case to anchor theoretical concepts to managerial situations. Provides simple decision rules and “how to do” answers to key managerial issues. Cross-border Mergers & Acquisitions, Project Finance, Islamic Finance, Asian Banking & Finance are completely new chapters that no other textbooks currently cover. Accompanied with a comprehensive instructor support package which includes case studies, an Instructor’s Manual, PowerPoint slides, Multiple Choice Questions and more.
Author : United States International Trade Commission
Publisher :
ISBN 13 :
Total Pages : 324 pages
Book Rating : 4.:/5 (31 download)
Download or read book Operation of the Trade Agreements Program written by United States International Trade Commission and published by . This book was released on 1986 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Carol Wise
Publisher : Rowman & Littlefield
ISBN 13 : 9780815716846
Total Pages : 196 pages
Book Rating : 4.7/5 (168 download)
Download or read book Exchange Rate Politics in Latin America written by Carol Wise and published by Rowman & Littlefield. This book was released on 2011-03-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of the analysis of Latin American exchange rate problems and policies has concentrated on the economic side of things. This volume instead examines the politics of exchange rate management in four nations that had very different approaches and results. Although the Mexican peso crash, Brazil's currency crisis, Argentina's maintenance of a currency board, and Venezuelan policy responses to the shocks of 1997-98 have had major international financial ramifications, the origins and outcomes of these dramatic events have yet to be analyzed in a single volume. The contributors tie these policy episodes together using solid comparative analysis, in order to better inform the policy debate on these issues.
