The Implications of Fiscal Conditions and Growing Internationalization for Monetary Policies and Financial Market Conditions

The Implications of Fiscal Conditions and Growing Internationalization for Monetary Policies and Financial Market Conditions
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 32
Release: 1988-06-29
Genre: Business & Economics
ISBN: 1451970137
GET BOOK

Download The Implications of Fiscal Conditions and Growing Internationalization for Monetary Policies and Financial Market Conditions Book in PDF, Epub and Kindle

The paper argues that the endogenous behavior of monetary authorities provides an important channel through which fiscal policy influences financial variables, and that growing internationalization has increased the sensitivity of financial conditions to fiscal policy. The core of the argument is that fiscal policy influences exchange rates, particularly to the extent that it affects the expected after-tax returns on capital located in different countries, and that the sensitivity of exchange rates to fiscal policy increases with growing internationalization. In addition, financial conditions reflect the actual and expected responses of the monetary authorities to exchange rates.

Normalization of Global Financial Conditions

Normalization of Global Financial Conditions
Author: Mr.Troy Matheson
Publisher: International Monetary Fund
Total Pages: 15
Release: 2015-09-03
Genre: Business & Economics
ISBN: 1513588117
GET BOOK

Download Normalization of Global Financial Conditions Book in PDF, Epub and Kindle

Global financial conditions are poised to tighten further as the global recovery proceeds. While monetary policy normalization should be a healthy global development as growth continues to recover in advanced economies, financial spillovers seen during the taper episode—which started with the announcement in May 2013 of possible tapering of U.S. asset purchases—hint at potential challenges for Brazil. The Fed’s communications related to normalization have improved significantly since the taper episode and, at present, a rise in Fed Funds rate in 2015 is widely anticipated by markets—arguably the most widely anticipated tightening of monetary policy in history. While Brazil could benefit from tighter global financial conditions associated with improved global prospects, bouts of heightened uncertainty about the future course of monetary policy cannot be ruled out. Thus, the correct diagnosis of the underlying reasons behind tighter global financial conditions remains crucially important for Brazil. Adverse spillovers can be mitigated by strengthening policy frameworks and fundamentals.

International Macroeconomics in the Wake of the Global Financial Crisis

International Macroeconomics in the Wake of the Global Financial Crisis
Author: Laurent Ferrara
Publisher: Springer
Total Pages: 300
Release: 2018-06-13
Genre: Business & Economics
ISBN: 3319790757
GET BOOK

Download International Macroeconomics in the Wake of the Global Financial Crisis Book in PDF, Epub and Kindle

This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Following the Money

Following the Money
Author: National Research Council
Publisher: National Academies Press
Total Pages: 225
Release: 1995-11-12
Genre: Political Science
ISBN: 0309048834
GET BOOK

Download Following the Money Book in PDF, Epub and Kindle

Many questions have been raised about America's status in the increasingly interconnected global economy. Yet key factsâ€"such as the amount of foreign assets abroad owned by U.S. citizensâ€"are not known. The crucial data needed to assess the U.S. position are unavailable. This volume explores significant shortcomings in U.S. data on international capital transactions and their implications for policymakers. The volume offers clearcut recommendations for U.S. agencies to bring data collection and analyses of the global economy into the twenty-first century. The volume explores: How factors emerging since the early 1980s have shaped world financial markets and revealed shortcomings in data collection and analysis. How the existing U.S. data system works and where it fails how measurements of international financial transactions are recorded; and how swaps, options, and futures present special reporting problems. How alternative methods, such as collecting data, from sources such as global custodians and international clearinghouses, might improve coverage and accuracy.

Challenges of Growth and Globalization in the Middle East and North Africa

Challenges of Growth and Globalization in the Middle East and North Africa
Author: Mr.Hamid R Davoodi
Publisher: International Monetary Fund
Total Pages: 44
Release: 2003-09-05
Genre: Business & Economics
ISBN: 9781589062290
GET BOOK

Download Challenges of Growth and Globalization in the Middle East and North Africa Book in PDF, Epub and Kindle

The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.

The Integration of World Capital Markets

The Integration of World Capital Markets
Author: Mr.Michael Mussa
Publisher: International Monetary Fund
Total Pages: 66
Release: 1993-12-01
Genre: Business & Economics
ISBN: 145195039X
GET BOOK

Download The Integration of World Capital Markets Book in PDF, Epub and Kindle

This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.

Global Trends 2040

Global Trends 2040
Author: National Intelligence Council
Publisher: Cosimo Reports
Total Pages: 158
Release: 2021-03
Genre:
ISBN: 9781646794973
GET BOOK

Download Global Trends 2040 Book in PDF, Epub and Kindle

"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.