Excess Liquidity Inflation And The Yuan Appreciation
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Excess Liquidity Inflation And The Yuan Appreciation
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Author : Chengsi Zhang
language : en
Publisher:
Release Date : 2009
Excess Liquidity Inflation And The Yuan Appreciation written by Chengsi Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This paper analyses the issues of excess liquidity, inflation and the exchange rate appreciation currently evolving in China. In mapping the co-movement between excess liquidity and inflation and developing a dynamic model, the paper shows that excess liquidity, ignited by dramatic capital inflows, is a significant driver for consumer price inflation in China during the last decade. In addition, the article compares the dynamic paths of inflation and interest rates between China and the United States and reveals marked changes in their differentials over recent years. Associating these findings with the evolving appreciation of the yuan against the dollar, the paper advises a slowdown in the rate of RMB appreciation. Instead of quick appreciation, the paper proposes more flexibility in the RMB exchange rate regime combined with alternative capital control measures to rein-in excess liquidity and curb ongoing inflation in China.
International Finance And Open Economy Macroeconomics
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Author : Giancarlo Gandolfo
language : en
Publisher: Springer
Release Date : 2016-07-12
International Finance And Open Economy Macroeconomics written by Giancarlo Gandolfo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-12 with Business & Economics categories.
This rigorous textbook tames technicalities and makes even the most complex models accessible to students. Its unique two-tier structure makes the book attractive for undergraduates, graduates and researchers alike. In fact, the coverage is primarily directed to undergraduate students and is mainly confined to graphic analysis and to some elementary algebra. Further, each chapter has its own mathematical appendix, in which (i) the topics treated in the text are examined at a level suitable for advanced undergraduates, graduates and researchers, and (ii) generalizations and/or topics not treated in the text (including some at the cutting edge of research) are formally examined. The new edition has been thoroughly revised and updated to reflect the latest research on international finance. This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of this book. the late Professor Jerome L. Stein, Brown University This book is a second edition of a volume on international finance first published in 2001. Like Giancarlo’s other books in International Economics, this book is organised as a two-books-in-one by distributing the material between text and appendices. The text provides coverage suitable for an undergraduate course while the mathematical appendices provide coverage of the topics at the frontier of the discipline and suitable for advanced undergraduate or graduate students in an international finance and international macroeconomics course. This edition updates the earlier volume and covers all the classic topics as well as the more recent advances in the theory and modelling of international finance. It includes some discussion of the empirical testing of these theories and where appropriate reference to the extensive empirical literature is also provided. This book is a valuable addition to the bookshelf of any serious International Finance Scholar and provides a treasure chest of material for any quality international finance course. Professor Pasquale M Sgro, Deakin University Giancarlo Gandolfo is one of the profession's most gifted textbook authors on mathematical modeling and international economics. His revised International Finance and Open-Economy Macroeconomics is remarkable for its scope and clarity. The book covers the older and intertemporal approaches, and topics that are usually left out of graduate treatments (the chapter on balance-of-payments accounting is a gem). Gandolfo's two-tier approach of first developing topics with graphs and basic algebra and then providing rigorous mathematics for each topic makes the book ideal for advanced undergraduate and graduate classes. Professor Michael D. Goldberg, University of New Hampshire
Exchange Rate Appreciation Capital Flows And Excess Liquidity
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Author : Victor C. Pontines
language : en
Publisher:
Release Date : 2012
Exchange Rate Appreciation Capital Flows And Excess Liquidity written by Victor C. Pontines and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Capital movements categories.
Distortions In The Nigerian Economy
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Author : Nigerian Economic Society. Annual Conference
language : en
Publisher:
Release Date : 2011
Distortions In The Nigerian Economy written by Nigerian Economic Society. Annual Conference and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Nigeria categories.
Managing Capital Flows
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Author : Masahiro Kawai
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
Managing Capital Flows written by Masahiro Kawai and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Business & Economics categories.
Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
Against The Consensus
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Author : Justin Yifu Lin
language : en
Publisher: Cambridge University Press
Release Date : 2013-07-04
Against The Consensus written by Justin Yifu Lin and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-04 with Business & Economics categories.
In June 2008, Justin Yifu Lin was appointed Chief Economist of the World Bank, right before the eruption of the worst global financial and economic crisis since the Great Depression. Drawing on experience from his privileged position, Lin offers unique reflections on the cause of the crisis, why it was so serious and widespread, and its likely evolution. Arguing that conventional theories provide inadequate solutions, he proposes new initiatives for achieving global stability and avoiding the recurrence of similar crises in the future. He suggests that the crisis and the global imbalances both originated with the excess liquidity created by US financial deregulation and loose monetary policy, and recommends the creation of a global Marshall Plan and a new supranational global reserve currency. This thought-provoking book will appeal to academics, graduate students, policy makers, and anyone interested in the global economy.
Asian Perspectives On Financial Sector Reforms And Regulation
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Author : Masahiro Kawai
language : en
Publisher: Brookings Institution Press
Release Date : 2011
Asian Perspectives On Financial Sector Reforms And Regulation written by Masahiro Kawai and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
"Examines Asia's emerging markets, which survived the financial debacle of 2008-09 with only modest declines in growth; discusses activities that could dampen continuing development in these markets including inflation, surging capital inflows, asset and credit bubbles, and rapid currency appreciation; and offers strategies to promote financial stability"--Provided by publisher.
The Debate On China S Exchange Rate
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Author : Jialin Zhang
language : en
Publisher: Hoover Press
Release Date : 2004
The Debate On China S Exchange Rate written by Jialin Zhang and has been published by Hoover Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with China categories.
Inflation In China
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Author : Chengsi Zhang
language : en
Publisher: Routledge
Release Date : 2020-08-13
Inflation In China written by Chengsi Zhang and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-13 with Business & Economics categories.
Inflation plays a central role in macroeconomic and financial policy regulation, and its dynamic formation has gradually become a popular research topic in this field. This book comprehensively studies the dynamic mechanism of inflation in China from the perspective of New Keynesian economics. By combining the dynamic trajectory of price changes since China's reform and opening-up under Deng Xiaoping as well as the underlying economic operating characteristics, the book deploys a multifaceted approach to understand the mechanism of inflation dynamics. The author explores the microfoundations of inflation dynamics, and underlines their importance in the context of modern monetary policy. In particular, he builds upon the traditional New Keynesian Phillips curve to include factors of globalization and financialization within the inflation formation regime of modern China. As the book explores the dynamic mechanism of China's inflation from different perspectives including inflation cycle theory, price index internal conduction, price index chain transmission, capital rotation, and industry inflation mechanisms, international readers will gain a full understanding of China's inflation, monetary policy, and economy.
Fear Of Appreciation
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Author : Eduardo Levy-Yeyati
language : en
Publisher: World Bank Publications
Release Date : 2007
Fear Of Appreciation written by Eduardo Levy-Yeyati and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Central Bank categories.
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.