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Author: Jose Saul Lizondo
Publisher:
ISBN:
Category : Equilibrio economico
Languages : en
Pages : 21
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Book Description
Author: Jose Saul Lizondo
Publisher:
ISBN:
Category : Equilibrio economico
Languages : en
Pages : 21
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Book Description
Author: José Saul Lizondo
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 34
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Book Description
For some problems it helps to think of overvalued or undervalued exchange rates as the result of unsustainable macroeconomic policies - such as undertaxation or overspending in the public sector - rather than the result of markets failing to clear or economic agents failing to behave in an optimizing manner.
Author: José Saúl Lizondo
Publisher:
ISBN:
Category :
Languages : en
Pages : 21
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Book Description
Author: Mr.Angel J. Ubide
Publisher: International Monetary Fund
ISBN: 1451858736
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
This paper presents a methodology for calculating bilateral equilibrium exchange rates for a panel of currencies in a way that guarantees global consistency. The methodology has three parts: a theoretical model that encompasses the balance of payments and the Balassa-Samuelson approaches to real exchange rate determination; an unobserved components decomposition in a cointegration framework that identifies a time-varying equilibrium real exchange rate; and an algebraic transformation that extracts bilateral equilibrium nominal rates. The results uncover that, by the start of Stage III of the European Economic and Monetary Union (EMU), the euro was significantly undervalued against the dollar and the pound, but overvalued against the yen. The paper also shows that the four major EMU currencies locked their parities with the euro at a rate close to equilibrium.
Author: Stanley Fischer
Publisher:
ISBN:
Category : Budget deficits
Languages : en
Pages : 74
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Book Description
Author: Jeffry A. Frieden
Publisher: Princeton University Press
ISBN: 1400865344
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Author: Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Publisher:
ISBN: 9789291319626
Category : Banks and banking, Central
Languages : es
Pages : 0
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Book Description
Author: Aswath Damodaran
Publisher: Now Publishers Inc
ISBN: 1601980140
Category : Business & Economics
Languages : en
Pages : 102
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Book Description
Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.
Author: Kemal Dervis
Publisher: Cambridge University Press
ISBN: 9780521270304
Category : Business & Economics
Languages : en
Pages : 548
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Book Description
Author: OECD
Publisher: OECD Publishing
ISBN: 9264189238
Category :
Languages : en
Pages : 448
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Book Description
This manual gives a complete, detailed and up-to-date description of the Eurostat-OECD PPP Programme, including its organisation, the various surveys carried out by participating countries and the ways PPPs are calculated and disseminated. It also provides guidance on the use of PPPs.
