Download or read book Target Zones and Forward Rates in a Model with Repeated Realignments written by Mr.Leonardo Bartolini and published by International Monetary Fund. This book was released on 1992-03-01 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the implications of the imperfect credibility of an exchange rate target zone on the term structure of forward premia. The relationship between spot and forward exchange rates of different maturities reflects the possibility of repeated realignments of the exchange rate band. The credibility of the commitment to the target zone implicit in forward market data can be extracted by estimating the model. Application to French/German data indicates that the model is capable of matching observed patterns of interest rate differentials during the EMS, while yielding estimates of the credibility parameters that accord with the experience of the FF/DM exchange rate during the 1980s.

Download or read book Understanding Interdependence written by Peter B. Kenen and published by Princeton University Press. This book was released on 2021-06-08 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing together new papers by some of today's leading figures in international economics and finance, Understanding Interdependence surveys the current state of knowledge on the international monetary system and, by implication, defines the research horizon for the future. Covering topics including the behavior of exchange rates, the choice of exchange-rate regime, current-account adjustment in classical and Keynesian models, the extent and effects of capital mobility, international debt, the stabilization and reform of the formerly planned economies, European monetary union, and international policy coordination, the book underscores the importance of these subjects and identifies lessons for policymakers. The contributors to the volume are Michael Bruno, Ralph C. Bryant, Richard N. Cooper, Michael P. Dooley, Barry Eichengreen, Stanley Fischer, Charles A. E. Goodhart, Peter Hooper, Peter B. Kenen, Paul R. Krugman, Henri Lorie, Jaime Marquez, Ronald I. McKinnon, Michael Mussa, Maurice Obstfeld, John Odling-Smee, Assaf Razin, Dani Rodrik, Mark P. Taylor, and John Williamson.

Download or read book Macroeconomic Theory written by Michael Wickens and published by Princeton University Press. This book was released on 2012-03-12 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive graduate textbook on modern macroeconomics Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for students and researchers seeking coverage of the most current developments in macroeconomics. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists. The most up-to-date graduate macroeconomics textbook available today General equilibrium macroeconomics and the latest advances covered fully and completely Two new chapters investigate banking and monetary policy, and unemployment Addresses questions raised by the recent financial crisis Web-based exercises with answers Extensive mathematical appendix for at-a-glance easy reference This book has been adopted as a textbook at the following universities: American University Bentley College Brandeis University Brigham Young University California Lutheran University California State University - Sacramento Cardiff University Carleton University Colorado College Fordham University London Metropolitan University New York University Northeastern University Ohio University - Main Campus San Diego State University St. Cloud State University State University Of New York - Amherst Campus State University Of New York - Buffalo North Campus Temple University - Main Texas Tech University University of Alberta University Of Notre Dame University Of Ottawa University Of Pittsburgh University Of South Florida - Tampa University Of Tennessee University Of Texas At Dallas University Of Washington University of Western Ontario Wesleyan University Western Nevada Community College

Download or read book Soft Exchange Rate Bands and Speculative Attacks written by Mr.Alessandro Prati and published by International Monetary Fund. This book was released on 1998-11-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a model of a “soft” exchange rate target zone and interpret it as a stylized description of the post-August 1993 ERM. Our central bank targets a moving average of the current and past exchange rates, rather than the exchange rate’s current level, thus allowing the rate to move within wide margins in the short run, but within narrow margins in the long run. For realistic parameters, soft target zones are significantly less vulnerable to speculative attacks than “hard” target zones. These predictions are consistent with the ERM’s experience and the abatement of speculative pressure in European markets since the bands’ widening in 1993.

Download or read book Methods and Applications for Modeling and Simulation of Complex Systems written by Byeong-Yun Chang and published by Springer Nature. This book was released on 2022-10-05 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume constitutes the proceedings of the 20th Asian Simulation Conference, AsiaSim 2021, held as a virtual event in November 2021. The 9 full papers presented in this volume were carefully reviewed and selected from 23 submissions. The papers are organized in topical sections on simulation and visualization; modeling and simulation of systems.

Download or read book Development Macroeconomics written by Pierre-Richard Agénor and published by Princeton University Press. This book was released on 2015-06-23 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today. Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability. Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries. The most authoritative book on the subject—now fully revised and expanded Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises

Download or read book International Macroeconomics written by Amalia Morales Zumaquero and published by Nova Publishers. This book was released on 2006 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: The international macroeconomics area has experienced substantial growth over the past decade. The goal of this volume is to present the most important developments in the international macroeconomics field in recent years. The literature in this area has evolved mainly in four directions that constitute the four parts of this book. In particular, Part I focuses on the purchasing power parity (PPP) puzzle, Part II presents papers that try to explain the behaviour of nominal and real exchange rates, Part III covers the financial crises, currency crises and contagion recent literature and, finally, the behaviour of exchange rates, inflation and output convergence in Central and Eastern European transition economies are considered in Part IV.

Download or read book Advances in 3D Image and Graphics Representation Analysis Computing and Information Technology written by Roumen Kountchev and published by Springer Nature. This book was released on 2020-05-01 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gathers selected papers presented at the conference “Advances in 3D Image and Graphics Representation, Analysis, Computing and Information Technology,” one of the first initiatives devoted to the problems of 3D imaging in all contemporary scientific and application areas. The aim of the conference was to establish a platform for experts to combine their efforts and share their ideas in the related areas in order to promote and accelerate future development. This second volume discusses algorithms and applications, focusing mainly on the following topics: 3D printing technologies; naked, dynamic and auxiliary 3D displays; VR/AR/MR devices; VR camera technologies; microprocessors for 3D data processing; advanced 3D computing systems; 3D data-storage technologies; 3D data networks and technologies; 3D data intelligent processing; 3D data cryptography and security; 3D visual quality estimation and measurement; and 3D decision support and information systems.

Download or read book The Economics of Exchange Rates written by Lucio Sarno and published by Cambridge University Press. This book was released on 2003-01-09 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination. Important developments in econometrics and the increasingly large availability of high-quality data have also been responsible for stimulating the large amount of empirical work on exchange rates in this period. Nonetheless, while our understanding of exchange rates has significantly improved, a number of challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises. This volume provides a selective coverage of the literature on exchange rates, focusing on developments from within the last fifteen years. Clear explanations of theories are offered, alongside an appraisal of the literature and suggestions for further research and analysis.

Download or read book On the credibility issue of exchange rate target zones written by Matthias Rau-Göhring and published by diplom.de. This book was released on 2003-04-29 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Zusammenfassung: Währungskrisen, wie die des Europäischen Währungssystems (EWS) 1992, können noch immer nur unzureichend vorausgesagt werden. Es wird jedoch anerkannt, dass die Glaubwürdigkeit eines jeden Währungssystems ausschließlich endogen bestimmt wird, d.h. durch Interaktion der einzelnen Akteure an den Wechselkursmärkten. Die vorliegende Arbeit untersucht, ob ein bestimmtes Glaubwürdigkeitsmaß, eingeführt von Avesani, Gallo und Salmon (1995), geeignet ist, die große EWS Krise 1992 vorauszusagen. Dabei handelt es sich um ein dynamisches Spiel, in dem die beiden Akteure (Zentralbank und Finanzmarkt) miteinander interagieren und damit die Glaubwürdigkeit des Systems aushandeln . Es wird gezeigt, dass o.g. Glaubwürdigkeitsmaß ein geeigneter Indikator für Währungskrisen darstellt, was empirisch anhand des französischen Francs, der italienischen Lira und des niederländischen Guldens nachgewiesen wird. Introduction: The objective of the present study is to present the literature of exchange rate target zones and to explore empirically the Avesani-Gallo-Salmon credibility measure for selected currencies belonging to the Exchange-Rate Mechanism (ERM) of the European Monetary System (EMS). In the past decade the empirical literature on real world target zones mushroomed considerably, but still, its overall significance in explaining strains in the relevant foreign exchange markets remains relatively low. In this context, I will explore whether the Avesani-Gallo-Salmon (1995) credibility measure demonstrates more power than earlier studies in the analysis of the 1992/3 EMS crisis. It is not my intention to pursue a normative analysis whether flexible or fixed exchange rates or intermediate regimes are superior to one another in terms of their economic implications. This question is beyond the scope of my analysis.1 Given that target zones are applied frequently in the real world, I purely want to figure out, whether their application is sensible on grounds of a firm commitment of the policy-makers. Exchange rate bands have been discussed widely after the breakdown of the Bretton Woods System in 1973. Although experiences with the fixed exchange rate regime were disappointing in the 1960s, increased volatility and/or overshooting of the exchange rates in the 1970s let economists doubt the famous argument by Friedman (1953) that speculation would stabilize exchange rate movements in the floating system. McKinnon (1976) reckoned that [...]

Download or read book Proceedings Of The 11th Joint International Computer Conference Jicc 2005 written by Qingsheng Zhu and published by World Scientific. This book was released on 2005-10-07 with total page 1009 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest techniques, algorithms, research accomplishments and trend in computer science and engineering. It collects together 222 peer reviewed papers presented at the 11th Joint International Computer Conference. The theme of this year is “IT: Intellectual Capital for the Betterment of Human Life”. The articles in this book cover a wide range of active and interesting areas such as Digital Entertainment, Grid Computing, Embedded System, Web Service and Knowledge Engineering. This book serves as a good reference not only for researchers but also for graduate students in corresponding fields.The proceedings have been selected for coverage in:•Index to Scientific & Technical Proceedings (ISTP CDROM version / ISI Proceedings)•CC Proceedings — Engineering & Physical Sciences

Download or read book Surgery Simulation and Soft Tissue Modeling written by Nicholas Ayache and published by Springer Science & Business Media. This book was released on 2003-06-04 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the International Symposium on Surgery Simulation and Soft Tissue Modeling, IS4TM 2003, held in Juan-Les-Pins, France in June 2003. The 33 revised full papers presented together with 3 invited papers were carefully reviewed and selected from 45 submissions. The papers are organized in topical sections on soft tissue models, haptic rendering, cardiac modeling, and patient specific simulators.

Download or read book Digital Compositing for Film and Video written by Steve Wright and published by Taylor & Francis. This book was released on 2024-06-04 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by senior compositor, technical director, and master trainer Steve Wright, this book condenses years of production experience into an easy-to-read and highly informative guide suitable for both working and aspiring visual effects artists. This updated edition of Digital Compositing for Film and Video addresses the problems and difficult choices that professional compositors face daily with an elegant blend of theory, practical production techniques, and workflows. It is written to be software-agnostic, so it applies to any brand of software. It features many step-by-step workflows, powerful new keying techniques, and updates on the latest tech in the visual effects industry with all-new content on artificial intelligence (AI) for visual effects (VFX), Universal Scene Description (USD), Virtual Production, and Cryptomattes. A companion website offers images from the examples discussed in the book allowing readers to experiment with the material first-hand. This edition also adds Nuke workflows to the companion website for the first time.

Download or read book Capital Mobility written by Leonardo Leiderman and published by Cambridge University Press. This book was released on 1994-07-14 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume examines capital mobility in both industrialised and developing countries.

Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.

Download or read book A Model of State dependent Target Zone Entry written by Patrick Georges and published by Department of Economics, University of Ottawa = Dép. de science économique, Université d'Ottawa. This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Microsurgical Approaches to the Target Areas of the Brain written by Wolfgang Seeger and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Preface Drawings and scripts were selected from those tion of the operative routes and their alternatives which were produced by the author in the last for well-defined anatomical target areas alone. This three years to help educate young neurosurgeons viewpoint becomes more and more important, be in Freiburg and in other clinics. cause today there is no anatomical structure of the This programm for education may be managed in 2 brain which cannot be approached with a minimal steps: risk for surviving the operation. But more and more - Learning techniques for performing of trepana the risk for neurologicalor psychological postopera tions from opening of the skin onto dura incision tive complications will rise if the anatomical and (step 1) neurophysiological knowledge is insufficient. These - Learning of techniques for routine operations viewpoints are most important in operations at the (e. g. , for extirpation of gliomas of cerebral lobes) cranial base and operations transcrossing midline (step 2) structures of the brain. An intensive anatomical - Learning of techniques for operative approach es training helps to understand MRI before opera in problematic areas of the cranial and cerebral tion. Often the modern MRI demonstrates more base and of the midline, especially for the often anatomical details than the unexperienced neurosur performed operations, e. g. for basal meningeo geon has understood.