effect of spreads on monetary and credit variables
charpe et al - financial assets, debt and liquidity crises; a keynesian approach (2011)
... of symbols corresponds to the notation used in Parts I and II and Chs and 11 of the book and it contains only domestic variables and parameters (Chs and 10 contain some notation that is specific ... accumulation and debt deflation via a sequence of partial models of debt accumulation and price deflation into fully integrated macroeconomic models of closed and open economies that are consistent ... ¯ of the Non-Accelerating Inflation Rate of Unemployment or NAIRU) Real (equilibrium) goods consumption of workers Real (equilibrium) goods consumption of asset owners Total goods consumption...
Ngày tải lên: 01/11/2014, 11:18
Tài liệu Research " Stabilization Programs, Monetary Policy and Exchange Rate Movements in Emerging Markets Economies " doc
Ngày tải lên: 18/02/2014, 11:20
The sensitivity of bank stock returns to market, interest and exchange rate risks docx
... problem and is an alternative to standard orthogonalization methods One method of orthogonalization in a multi-index model uses the residual obtained from a regression of one factor on another ... Saunders and I Swary, 1985, The effects of the International Banking Act on domestic bank profttability and risk, Journal of Money, Credit, and Banking 17, 493-506 Belsley, D., E Kuh and R Welsch, ... expectation, new information Because the degree of correlation among the innovations is an empirical issue, an innovation in one variable can reveal ‘It is possible that the imposition of international...
Ngày tải lên: 22/03/2014, 17:20
Derivative Exposure and the Interest Rate and Exchange Rate Risks of U.S. Banks ppt
... the effect of traditional off-balance sheet activities on bank risk and profits in general, and not focus on the effect of derivatives on systematic exchange rate and interest rate risks of banks ... description of firm-specific balance sheet and derivative exposure variables used in the second-step cross-sectional estimation The cross-sectional estimation is based on equations (4) and (5) ... result is that the effects of monetary policy shocks are rather modest Of the total of 59 banks in the sample, only 15 show significant interest rate effect of the October 1979 monetary policy change...
Ngày tải lên: 29/03/2014, 13:20
Interest rates and exchange rate
... Fisher Effect - The Fisher effect describes the relationship between inflation, real interest rates and nominal interest rates - The nominal interest ... the expected inflation rates - If nominal interest rate is constant, real interest rates will fall as inflation increases - i = r + I => r = i – I In a world of countries and unrestricted capital ... capital in US and invest it in Japan increases, decreses => = The differences in nominal interest rates is also = differences in expected rates of inflation International Fisher Effect (IFE) -...
Ngày tải lên: 04/04/2015, 23:59
Revision of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) Indices.doc
... more pronounced in the last four years The inclusion of China and Hong Kong SAR reflects an increasing recognition of the Indian economy’s rapidly growing integration with the developing and emerging ... and trade, (ii) regional representation and (iii) the regular availability of data on exchange rates and prices on a monthly basis The new countries included in the revised series are Hong Kong ... Austria, Belgium, Finland, France, Italy and Netherlands) Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain) Guatemela Hongkong Indonesia Indonesia Israel Iran Japan...
Ngày tải lên: 17/09/2012, 16:47
The Foreign Exchange and Interest Rate Derivatives Markets: Turnover in the United States, April 2010 doc
... 92 percent of forward rate agreements and 87 percent of interest rate options It was on one side of 79 percent of foreign exchange options and 97 percent of currency swaps There was considerable ... options such as average rate options and barrier options Currency swaption OTC option to enter into a currency swap contract Currency warrant OTC option; long-dated (over one year) currency option ... The amount of each transaction is reported before the effects of any netting arrangements In the case of swap transactions, only one leg is reported b) The survey covered three types of counterparties:...
Ngày tải lên: 06/03/2014, 02:21
Research " On Fiscal Discipline and the Choice of Exchange Rate Regine " pptx
Ngày tải lên: 07/03/2014, 02:20
VIETNAM’S EXCHANGE RATE POLICY AND IMPLICATIONS FOR ITS FOREIGN EXCHANGE MARKET, 1986-2009 doc
... transactions Local transactions only Malaysia Both cross-border and local transactions Local transactions only Philippines Both cross-border and local transactions Local transactions only Thailand ... preference can be confirmed through three ways: (i) analysis of trends in exchange rates; (2) examination of public statements by senior officials; and (3) estimation of the volatility of exchange rates ... estimation Table Share of Interbank Transactions in Total Forex Market Turnover 1998 India Both cross-border and local transactions Local transactions only Indonesia Both cross-border and local...
Ngày tải lên: 07/03/2014, 18:20
WORKING PAPER NO. 218 THE ZERO-INTEREST-RATE BOUND AND THE ROLE OF THE EXCHANGE RATE FOR MONETARY POLICY IN JAPAN potx
... corresponds, for example, to an inflation target of 0% and an equilibrium real rate of 1% Figure 3: Distortion of Stationary Distributions of Output and Annual Inflation Output Annual Inflation Bias of ... expansionary to rescue the economy from a deflationary spiral Orphanides and Wieland (2000) instead concentrated on the role of other channels of the monetary transmission mechanism that may continue ... Orphanides and Wieland (1998) provided a first study of the effect of the zero bound on the distributions of output and inflation in the U.S economy Building on this analysis Reifschneider and Williams...
Ngày tải lên: 22/03/2014, 23:20
The Exchange Rate Exposure of U.S. and Japanese Banking Institutions potx
... discussion of some important data considerations Section presents the cross-sectional analysis, and the final section concludes Estimation of Foreign Exchange Exposure We estimate the sensitivity of ... “The Effect of Interest Rate Changes on the Common Stock Returns of Financial Institutions,” Journal of Finance, 34, Froot, Ken 1993 “Currency Hedging Over Long Horizons,” National Bureau of Economic ... measures of the share of foreign assets, of foreign liabilities, of Net, and of foreign charge-offs all lie (in absolute value) between 0.50 and 0.55 As one might expect, the correlations among these...
Ngày tải lên: 29/03/2014, 13:20
Thuyết trình Exchange Rate pass-through and monetary policy in Croatia
... quan nghiên cứu trước McCarthy, 2000, “Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies” Bài báo nghiên cứu tác động tỷ giá lên giá ... EXCHANGE RATE PASS - THROUGH AND MONETARY POLIICY IN CROATIA GIỚI THIỆU TỔNG QUAN LÝ THUYẾT VẤN ĐỀ DỮ LIỆU PHÂN TÍCH THỰC NGHIỆM ... dẫn hoàn toàn đến giá nhập Tổng quan nghiên cứu trước Gosh and Wolf, 2001, “Imperfect Exchange Rate PassThrough: Strategic Pricing and Menu Costs” Nghiên cứu hiệu ứng truyền dẫn ngắn hạn không...
Ngày tải lên: 10/04/2014, 13:10
báo cáo hóa học: " Can we derive an ''''exchange rate'''' between descriptive and preference-based outcome measures for stroke? Results from the transfer to utility (TTU) technique" doc
... of the study, data analysis and interpretation of results, and drafted the manuscript LS participated in the design of the study and interpretation of results, and suggested edits and revisions ... regression [5] Given the development of a suitable regression-based transformation, TTU regression permits conversion of outcomes commonly used in clinical trials into the common metric of QALYs ... regressed onto item scores The inclusion of secondorder and interaction terms in the item-based regressions was not practical given degrees of freedom constraints and the large number of first-order...
Ngày tải lên: 18/06/2014, 18:20
essays on income inequality exchange rate and policy coordination
... The reason for adding price variables is that we want to see the role of monetary policy in the interaction of the two economies, the effect of monetary policy on the domestic economy and the ... because of difference in size, the Chinese and Hong Kong economies will have different effects on one another Since China’s economy size is bigger than Hong Kong’s, China’s economic policy has big effect ... income inequality and growth is analyzed vi Table of Contents Chapter One: Introduction Chapter Two: Economic Interaction and Policy Coordination Between China and Hong Kong ...
Ngày tải lên: 21/08/2014, 07:54
The relation between exchange rate and the balance of payments – Theory and reality in Vietnam
... economic growth - In addition, the thesis provides conditional petitions to carry out solutions Then, the longterm stabilization of low inflation and improve environment for economic competitions ... International research overview There are some particular research works on examination of the relation between exchange rate and the balance of payments Research on International Monetary and Financial ... lag 0, and Elasticity of coefficient of import demand, lag 0, and also has its statistical value at 1% and 5% 2.4 General conclusions on the reality of the relation between exchange rate and the...
Ngày tải lên: 23/08/2014, 14:15
the choice of exchange-rate regime and speculative attacks
... lifting of restrictions on currency flows and on related capital account transactions One consequence of this trend is a reduction in the transaction cost of foreign exchange transactions (t in ... “Destabilizing Effects of Exchange-Rate Escape Clauses.” Journal of International Economics, 43, 61–77 Sutherland, Alan (1995) Monetary and Real Shocks and the Optimal Target Zone.” European Economic ... of the European Economic Association reduces the probability of a crisis The second term reflects the effect of the tax increase, via its effect on the RECs, on the choice of band width Since (as...
Ngày tải lên: 28/11/2014, 17:18
the choice of exchange-rate regime and speculative attacks
... lifting of restrictions on currency flows and on related capital account transactions One consequence of this trend is a reduction in the transaction cost of foreign exchange transactions (t in ... “Destabilizing Effects of Exchange-Rate Escape Clauses.” Journal of International Economics, 43, 61–77 Sutherland, Alan (1995) Monetary and Real Shocks and the Optimal Target Zone.” European Economic ... of the European Economic Association reduces the probability of a crisis The second term reflects the effect of the tax increase, via its effect on the RECs, on the choice of band width Since (as...
Ngày tải lên: 29/11/2014, 11:26
The impact of exchange rate policy on trade balance and inflation in Vietnam = Tác động của chính sách tỷ giá hối đoái đối với cán cân thương mại và lạm phát ở Việt Nam
... FOUNDATION OF IMPACT OF EXCHANGE RATE ON TRADE BALANCE AND INFLATION 2.1 Basic concepts of exchange rate 2.1.1 Definition of exchange rate Although globalization and economic integration have ... foundation of impact of exchange rate on trade balance and inflation • Chapter - Overview of the impact of exchange rate on trade balance and inflation in Vietnam • Chapter - Empirical study on impact ... response functions to know the impact of a shock in depreciation on trade balance and inflation and computes variance decomposition to understand the role of exchange rate in the variance of trade...
Ngày tải lên: 05/03/2015, 09:08