Download or read book The Aftermath of Appreciations written by Ilan Goldfajn and published by . This book was released on 1996 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically analyzes a broad range of real exchange rate appreciation episodes. The cases are identified after compiling a large sample of monthly multilateral real exchange rates from 1960 to 1994. The objective is twofold. First, the paper studies the dynamics of appreciations, avoiding the sample selection of analyzing exclusively the crisis (or devaluation) cases. Second, the paper analyzes the mechanism by which overvaluations are corrected. In particular, we are interested in the proportion of the reversions that occur through nominal devaluations, rather than cumulative inflation differentials. We calculate the probability of undoing appreciations without nominal depreciations for various degrees of misalignment. The overall conclusion is that it is very unlikely to undo large and medium appreciations without nominal devaluations.
Download or read book Monetary Policy in the Aftermath of Currency Crises written by Mr.Taimur Baig and published by International Monetary Fund. This book was released on 1998-12-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates monetary policy and its relationship with the exchange rate in five Asian crisis countries. The findings are compared with previous currency crises in recent history. The paper finds no evidence of overly tight monetary policy in the Asian crisis countries in 1997 and early 1998, nor evidence that high interest rates led to weaker exchange rates. The usual trade-off between inflation and output when raising interest rates suggested the need for a softer monetary policy in the crisis countries to combat recession. However, in some countries, corporate balance sheet considerations called for the reversal of overly depreciated currencies through firmer monetary policy.
Download or read book Currency Crises written by Paul Krugman and published by University of Chicago Press. This book was released on 2007-12-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no universally accepted definition of a currency crisis, but most would agree that they all involve one key element: investors fleeing a currency en masse out of fear that it might be devalued, in turn fueling the very devaluation they anticipated. Although such crises—the Latin American debt crisis of the 1980s, the speculations on European currencies in the early 1990s, and the ensuing Mexican, South American, and Asian crises—have played a central role in world affairs and continue to occur at an alarming rate, many questions about their causes and effects remain to be answered. In this wide-ranging volume, some of the best minds in economics focus on the historical and theoretical aspects of currency crises to investigate three fundamental issues: What drives currency crises? How should government behavior be modeled? And what are the actual consequences to the real economy? Reflecting the latest thinking on the subject, this offering from the NBER will serve as a useful basis for further debate on the theory and practice of speculative attacks, as well as a valuable resource as new crises loom.
Download or read book The Gratitude Factor written by Charles M. Shelton and published by Paulist Press. This book was released on 2010 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps readers to reflect on the role of gratitude in their lives and to cultivate this virtue for their own benefit. The first author to offer a critique of gratitude through an explanation of various types of gratitude, Charles Shelton uses his skills as a clinical psychologist to present insights into the human experience of gratitude based on his own research. The exercises, strategies, and reflection questions threaded throughout the book give it a practical dimension that facilitates the reader's growth. Shelton's highly original reflection on Jesus as a grateful person lends a spiritual dimension to his work. This book will benefit individual readers as well as serve as a resource for spiritual direction workshops, spiritual formation courses, or ministry formation programs.--From publisher description.
Download or read book Exchange Rates and Macroeconomic Dynamics written by P. Karadeloglou and published by Springer. This book was released on 2008-02-13 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the PPP persistence puzzle, and econometric aspects of exchange rate dynamics and their implications. It also explores the importance of exchange rate dynamics in the pass-through effects (PTE) and the econometric aspects of the exchange rates dynamics linked to structural shocks on different economies.
Download or read book Proceedings of the International Conference Theory and Applications in the Knowledge Economy TAKE 2017 written by Blazenka Knezevic and published by Eduardo Tomé. This book was released on 2017-07-08 with total page 739 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword A famous Portuguese Poet once said around one hundred years ago; “before I was born all the words that should save the Humanity had already been written.., the only thing that was missing was to save Humanity.” Fast forward to the 21st century services led and knowledge based economy, and we have myriads of theoretical study about the decisive assets – namely intangibles. Those analysis are made in several perspectives, namely Human Resources, Knowledge Management, Intellectual Capital, and also many sectorial perspectiveslike Trade, Economics, Logistics, Social Policy etc. However, today the question about the applicability of all these studies remains unsolved. So, it like, many of the words that will save the Knowledge Economy have already been written, all we need is to save the Knowledge Economy…Or is it not? The idea behind TAKE Conference was to provide a multidisciplinary forum in which those multiple perspectives will come together. We believe it is a fruitful operation and we intend to continue the exercise in the future. The problem of the relation between theory and practice in the knowledge economy is getting more important and not lessimportant with the development of the BRICS and other nations. TAKE main question will be one of the problems of the 21st century. Following the promising start of TAKE 2016 in Aveiro, Portugal, TAKE 2017 was organized by the Faculty of Economics of Zagreb University, around Prof. Blazenka Knezevic. I would like to thank her and her team for the massive effort in putting TAKE 2017 together. It will be a very nice and memorable conference. I would like also to thank the 5 keynotes, the special sessions and workshop organizes, the authors of the 60 papers and 5 posters, the stream leaders, the reviewers and the sponsors for the efforts. And to the 90 participants from 20 countries: Austria, Bosnia‐Herzegovina, Canada, Croatia, Germany, Hong Kong, Hungary, Netherlands, Mexico, Portugal, Poland, Romania, Russia, South Africa, Serbia, Slovakia, Spain, Thailand, United Kingdom, United States. A special word to Prof. Gaby Neumann from Wildau who organized the Proceedings. Let us make TAKE 2017 a great occasion and help save the knowledge economy a bit. Eduardo Tomé, Conference Chair Zagreb, July 2017
Download or read book IMF Staff papers Volume 45 No 1 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1998-01-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes some leading indicators of currency crises, and proposes a specific early warning system. This system involves monitoring the evolution of several indicators that tend to exhibit an unusual behavior in the periods preceding a crisis. When an indicator exceeds a certain threshold value, this is interpreted as a warning “signal” that a currency crisis may take place. The variables that have the best track record within this approach include exports, deviations of the real exchange rate from trend, and the ratio of broad money to gross international reserves, output, and equity prices.
Download or read book The Currency Game written by Jeffry A. Frieden and published by IDB. This book was released on 2001 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Written by a distinguished group of economists and political scientists from around the hemisphere, the essays in this book include analytical perspectives, a cross-national statistical study, and a series of detailed country studies ... [and bring an] important new theoretical insights and epmpirical evidence to that debate in order to best address a policy issue critical to the future of Latin American development"--Preface.
Download or read book The Aftermath of the 1992 ERM Breakup written by Robert J. Gordon and published by . This book was released on 1999 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about post-1992, which I call the conventional wisdom,' reports that a surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment, all without any evidence of extra inflation. The results in this paper turn the conventional wisdom on its head. While the leaver nations experienced an acceleration of nominal GDP growth relative to the stayers, fully 80 percent of this spilled over into extra inflation, leaving only 20 percent remaining for extra real GDP growth. Virtually 100 percent of the nominal exchange rate depreciation passed through into higher import prices, and extra inflation would have been even more pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any significant stimulus to real output growth is attributed to fiscal tightening under pressure from the Maastricht criteria, which offset nearly all of the stimulus coming from the improved current account of the leaver nations.
Download or read book Macroeconomics in Emerging Markets written by Peter J. Montiel and published by Cambridge University Press. This book was released on 2003-04-10 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents
Download or read book Fear of Appreciation written by Eduardo Levy-Yeyati and published by World Bank Publications. This book was released on 2007 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: In recent years the term "fear of floating" has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has been aimed at limiting appreciations rather than depreciations, often motivated by the neo-mercantilist view of a depreciated real exchange rate as protection for domestic industries. As a first step to address the broader question of whether this view delivers on its promise, the authors examine whether this "fear of appreciation" has a positive impact on growth performance in developing economies. The authors show that depreciated exchange rates appear to induce higher growth, but that the effect, rather than through import substitution or export booms as argued by the mercantilist view, works largely through the deepening of domestic savings and capital accumulation.
Download or read book Exchange Rates and Trade written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2017-03-17 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the stability and strength of the relationship between exchange rates and trade over time using three alternative approaches, mitigating the endogeneity of the relation. We find that both exchange rate pass-through and the price elasticity of trade volumes are largely stable over time. Economic slack and financial conditions affect the relationship, but there is limited evidence that participation in global value chains has significantly changed the exchange rate–trade relationship over time.
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.
Download or read book written by Frank Joseph Shulman and published by Hong Kong University Press. This book was released on 2001-01-01 with total page 878 pages. Available in PDF, EPUB and Kindle. Book excerpt: A descriptively annotated, multidisciplinary, cross-referenced and extensively indexed guide to 2,395 dissertations that are concerned either in whole or in part with Hong Kong and with Hong Kong Chinese students and emigres throughout the world.
Download or read book Keys to Prosperity written by Rudiger Dornbusch and published by MIT Press. This book was released on 2002-02-22 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timely commentaries and essays from economist Rudi Dornbusch. The underlying theme of Rudi Dornbusch's work is unabashedly Chicago, namely, the University of Chicago belief that markets solve problems best and that most bureaucrats, even when well-intentioned, are distracted by politics or excessive zeal for perfect solutions. Dornbusch seeks to challenge those in charge with alternative answers and to limit their ambitions. He takes aim at central bankers, bureaucrats, unions, do-gooders, and politicians from Brazil, Japan, Russia, and other scenes of economic disaster. This book collects Dornbusch's recent commentaries from such publications as Business Week, the Wall Street Journal, and the Financial Times, as well as longer essays from recent and forthcoming books. The pieces focus on issues of domestic and international economic policy, including inflation and debt, exchange rates, trade policy, emerging markets, and the intersection of politics and economics. The writing is lively, opinionated, and informative.
Download or read book Positive Psychotherapy written by Tayyab Rashid and published by Oxford University Press. This book was released on 2018-07-17 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: For over a century the focus of psychotherapy has been on what ails us, with the therapeutic process resting upon the assumption that unearthing past traumas, correcting faulty thinking, and restoring dysfunctional relationships is curative. And indeed, they are - but in the rush to identify and reduce symptoms of mental disorder, something important has been overlooked: the positives. Should enhancing well-being, and building upon character strengths and virtues, be explicit goals of therapy? Positive Psychotherapy provides therapists with a session-by-session therapeutic approach based on the principles of positive psychology, a burgeoning area of study examining the conditions and processes that enable individuals, communities, and institutions to flourish. This clinician's manual begins with an overview of the theoretical framework for positive psychotherapy, exploring character strengths and positive psychology practices, processes, and mechanisms of change. The second half of the book contains 15 positive psychotherapy sessions, each complete with core concepts, guidelines, skills, and worksheets for practicing skills learned in session. Each session also includes at least one vignette as well as discussion of cross-cultural implications. Mental health professionals of all orientations will find in Positive Psychotherapy a refreshing alternative to symptom-based approaches that will endow clients with a sense of purpose and meaning that many have found lacking in more traditional therapies.
Download or read book IMF Staff Papers Volume 50 No 1 written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 2003-04-17 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Fieming-Mundell model?
