Floating With A Load Of Fx Debt
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Floating With A Load Of Fx Debt
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Author : Tatsiana Kliatskova
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-30
Floating With A Load Of Fx Debt written by Tatsiana Kliatskova and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-30 with Business & Economics categories.
Countries with de jure floating exchange rate regimes are often reluctant to allow their currencies to float freely in practice. One reason why countries may wish to limit exchange rate volatility is potential negative balance sheet effects due to currency mismatches on the balance sheets of firms and households. In this paper, we show in a sample of 15 emerging market economies that countries with large foreign exchange (FX) debt in the non-financial private sector tend to react more strongly to exchange rate changes using both FX interventions and monetary policy. Thus, our results support the idea that an important source of “fear of floating” is balance sheet currency mismatches. This effect is asymmetric; that is, countries stem depreciation but not appreciation pressure. Moreover, FX debt financed through the domestic banking system is more important for fear of floating than FX debt obtained directly from external sources.
Exchange Rate Regimes In Central Eastern And Southeastern Europe
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Author : Mr.Slavi T Slavov
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-31
Exchange Rate Regimes In Central Eastern And Southeastern Europe written by Mr.Slavi T Slavov and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-31 with Business & Economics categories.
There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dollar in recent years. Eight countries, all of them current or aspiring EU members, track the euro. Of the five countries keying on the US dollar in various degrees, all but one belong to the Commonwealth of Independent States. The paper shows that the extent to which each country’s currency tracks the euro (or the dollar) is correlated with the structure of its external trade and finance. However, some countries appear to track the EUR or USD to an extent which appears inconsistent with inflation targeting, trade or financial integration, or the extent of business cycle synchronization. The phenomenon is particularly pronounced among the countries in the CESEE euro bloc, which may be deliberately gravitating around the euro in anticipation of eventually joining the Euro Area.
Imf Research Bulletin March 2016
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-06
Imf Research Bulletin March 2016 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-06 with Business & Economics categories.
The IMF Research Bulletin includes listings of recent IMF Working Papers and Staff Discussion Notes. The research summaries in this issue are “Explaining the Recent Slump in Investment” (Mathieu Bussiere, Laurent Ferrara, and Juliana Milovich) and “The Quest for Stability in the Housing Markets” (Hites Ahir). The Q&A column reviews “Seven Questions on Estimating Monetary Transmission Mechanism in Low-Income Countries” (Bin Grace Li, Christopher Adam, and Andrew Berg). Also included in this issue are updates on the IMF’s official journal, the IMF Economic Review, and recommended readings from IMF Publications.
Unravelling The Persistence Of Dollarization
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Author : Ia Eradze
language : en
Publisher: Taylor & Francis
Release Date : 2023-06-22
Unravelling The Persistence Of Dollarization written by Ia Eradze and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-22 with Business & Economics categories.
This volume engages with the roots, dimensions, and implications of foreign currency domination in states with a national currency. Referred to as unofficial dollarization in literature, this is a worldwide phenomenon among developing countries and has a long history. This monograph provides a political economic analysis of dollarization in Georgia and is structured around three themes: the genesis of dollarization (1991–2003), the persistence of dollarization (2003–12) and the politicization of dollarization (2012–19). The case of Georgia is especially representative of the post-socialist transition states, but also has wider applicability. A high level of dollarization is a significant barrier to economic growth, macroeconomic and political stability, functional monetary policy, as well as social welfare. The Covid-19 crisis and the increasing debt of developing countries in foreign currency exacerbate dollarization-related vulnerabilities for these economies. This book will be of interest to postgraduate students in global/comparative political economy, development economics or transition economies, researchers in monetary sovereignty, central banking, exchange rate policies, currency hierarchy, money, financialization, and policy makers in dollarized countries and global institutions.
Peru
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-07-15
Peru written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-15 with Business & Economics categories.
This Selected Issues paper presents a comparative analysis of the macroeconomic adjustment in Chile, Colombia, and Peru to commodity terms-of-trade shocks. The study is done in two steps: (1) an analysis of the impulse responses of key macroeconomic variables to terms-of-trade shocks and (2) an event study of the adjustment to the recent decline in commodity prices. The experiences of these countries highlight the importance of flexible exchange rates to help with the adjustment to lower commodity prices, and staying vigilant in addressing depreciation pressures on inflation through tightening monetary policies. On the fiscal front, evidence shows that greater fiscal space, like that of Chile and Peru, gives more room for accommodating terms-of-trade shocks.
The Bolivian Public Debt With A Survey Of Bolivian Financial History
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Author : Charles Alfred McQueen
language : en
Publisher:
Release Date : 1924
The Bolivian Public Debt With A Survey Of Bolivian Financial History written by Charles Alfred McQueen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1924 with Debts, Public categories.
Trade Promotion Series
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Author :
language : en
Publisher:
Release Date : 1925
Trade Promotion Series written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1925 with United States categories.
Trade Information Bulletin
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Author :
language : en
Publisher:
Release Date : 1924
Trade Information Bulletin written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1924 with United States categories.
Capital Markets Sixth Edition
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Author : Frank J. Fabozzi
language : en
Publisher: MIT Press
Release Date : 2025-05-06
Capital Markets Sixth Edition written by Frank J. Fabozzi and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-05-06 with Business & Economics categories.
The comprehensively updated sixth edition of a leading textbook that examines the wide range of instruments available in financial markets, with new material on central banks, capital market technology, and financing markets for small businesses. Capital markets are an integral part of the financial system, and their evolution reflects a larger story of global financial change characterized by shifts in regulations, investor behavior, and technological advancements. Now in a comprehensively updated new edition, this widely used textbook examines the wide range of instruments for financing, investing, and controlling risk in today’s financial markets. The book begins with an introduction to financial markets, followed by a detailed examination of risk, including financial risk identification, quantification, and management. It then covers market participants, including a new chapter on central banks; fundraising markets, with a new chapter on financing markets for small businesses; risk and return theories; equity, debt, and derivatives markets; and capital market technologies, in a dedicated new section. Sixth edition highlights: • Includes new chapters on central banks, capital market technologies, and financing markets for small businesses • Incorporates analysis of the role of technological innovation throughout • Offers broad coverage of all types of financial instruments, including cash and derivative instruments, as well as the risk management dilemmas confronted by major institutional investors • Features rich pedagogy and resources, including end-of-chapter discussion questions and integrated online appendices
Capital Markets Fifth Edition
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Author : Frank J. Fabozzi
language : en
Publisher: MIT Press
Release Date : 2015-10-23
Capital Markets Fifth Edition written by Frank J. Fabozzi and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-23 with Business & Economics categories.
The substantially revised fifth edition of a textbook covering the wide range of instruments available in financial markets, with a new emphasis on risk management. Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform. Chapters from the previous edition have been updated, and new chapters cover material that reflects recent developments in financial markets. The book begins with an introduction to financial markets, offering a new chapter that provides an overview of risk—including the key elements of financial risk management and the identification and quantification of risk. The book then covers market participants, including a new chapter on collective investment products managed by asset management firms; the basics of cash and derivatives markets, with new coverage of financial derivatives and securitization; theories of risk and return, with a new chapter on return distributions and risk measures; the structure of interest rates and the pricing of debt obligations; equity markets; debt markets, including chapters on money market instruments, municipal securities, and credit sensitive securitized products; and advanced coverage of derivative markets. Each chapter ends with a review of key points and questions based on the material covered.