中央银行(central bank)
中央银行(central bank)
中央银行(central bank)
A、start
B、startdown
C、end
D、start-up
Describe the effects of an unexpected devaluation on the central bank's balance sheet and on the balance of payments accounts.
In October 1979,the U.S. central bank(the Federal Reserve System)announced it would play a less active role in limiting fluctuations in dollar interest rates.After this new policy was put into effect,the dollar's exchange rates against foreign currencies became more volatile.Does our analysis of the foreign exchange market suggest any connection between these two events?
Why would Argentina have to give the United States seigniorage if it gave up its peso and dollarized its economy completely? How would you measure the size of Argentina's sacrifice of seigniorage? (To do this exercise,think through the actual steps Argentina would have to take to dollarize its economy.You may assume that the Argentine central bank's assets consist 100 percent of interest-bearing U.S. Treasury bonds.)
Given output,a country can improve its current account by either cutting investment or cutting consumption(private or government).After the debt crisis of the 1980s began,many developing countries achieved improvements in their current accounts by cutting investment.Is this a sensible strategy?
During the 1980s debt crises,economist Peter B.Kenen of Princeton University suggested the creation of a government-sponsored International Debt Discount Corporation(IDDC)that would issue its own long-term bonds to banks in exchange for their loans to developing countries.How might an IDCC have facilitated debt relief for developing countries? What problems can you see in operating such a facility? (For a symposium on these and related questions,see the Winter 1990 issue of the Journal of Economic Perspectives.)
为了保护您的账号安全,请在“简答题”公众号进行验证,点击“官网服务”-“账号验证”后输入验证码“”完成验证,验证成功后方可继续查看答案!