Foreign Exchange And Foreign Debts

Author : Hubert C. Walter
Publisher : Routledge
Page : 252 pages
File Size : 51,9 Mb
Release : 2018-01-29
Category : Business & Economics
ISBN : 9781351811415

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Foreign Exchange and Foreign Debts by Hubert C. Walter Pdf

Originally published in 1926. This book explains clearly the depreciation of the franc, the return to the gold standard and dollar parity, inflation and deflation, the stabilization of the mark and its effects; and the connexion between exchange rates and prices. It describes the transfer of money abroad, bank credits, the various methods in which documentary bills are dealt with and foreign currencies exchanged. Based on the author’s practical experience of finance, it incorporates economic research and contains a concise statement of Britain’s debt to America, the Dawes Reparation Plan, and the debt settlements with France and Italy.

Author : Mr.Sebastian Weber,Pascal Towbin
Publisher : International Monetary Fund
Page : 53 pages
File Size : 41,6 Mb
Release : 2011-02-01
Category : Business & Economics
ISBN : 9781455219001

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Limits of Floating Exchange Rates by Mr.Sebastian Weber,Pascal Towbin Pdf

A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure switching. This argument is weakened in models with high foreign currency debt and low exchange rate pass-through to import prices. The present study evaluates the empirical relevance of these two factors. We analyze the transmission of real external shocks to the domestic economy under fixed and flexible exchange rate regimes for a broad sample of countries in a Panel VAR and let the responses vary with foreign currency indebtedness and import structure. We find that flexible exchange rates do not insulate output better from external shocks if the country imports mainly low pass-through goods and can even amplify the output response if foreign indebtedness is high.

Author : Robert K. Lovett
Publisher : Unknown
Page : 92 pages
File Size : 44,7 Mb
Release : 1872
Category : Finance
ISBN : BL:A0021970622

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A Manual of Foreign Exchange by Robert K. Lovett Pdf

Author : International Law Association. Committee on Legal Aspects of a New International Economic Order
Publisher : Unknown
Page : 384 pages
File Size : 55,9 Mb
Release : 1986
Category : Balance of payments
ISBN : UOM:39015014229424

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Foreign Debts in the Present and a New International Economic Order by International Law Association. Committee on Legal Aspects of a New International Economic Order Pdf

Author : Martin Melecky,World Bank,World Bank. Banking and Debt Management Department
Publisher : World Bank Publications
Page : 33 pages
File Size : 51,9 Mb
Release : 2008
Category : Currencies and Exchange Rates
ISBN : 8210379456XXX

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An Alternative Framework for Foreign Exchange Risk Management of Sovereign Debt by Martin Melecky,World Bank,World Bank. Banking and Debt Management Department Pdf

Abstract: This paper proposes a measure of synchronization in the movements of relevant domestic and foreign fundamentals for choosing suitable currency for denomination of foreign debt. The selection of explanatory variables for exchange rate volatility is motivated using a New Keynesian Policy model. The model predicts that not only traditional optimal currency area variables, but also variables considered by the literature on currency preferences, such as money velocity, should be relevant for explaining exchange rate volatility. The findings show that measures of inflation synchronization, money velocity synchronization, and interest rate synchronization can be useful indicators for decisions on the currency denomination of foreign debt.

Author : Dan Galai,Zvi Wiener
Publisher : International Monetary Fund
Page : 22 pages
File Size : 51,6 Mb
Release : 2009-05-01
Category : Business & Economics
ISBN : 9781451872576

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Credit Risk Spreads in Local and Foreign Currencies by Dan Galai,Zvi Wiener Pdf

The paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of a company raising a given amount of financing, and thus affects the cost of debt. Foreign currency borrowing is cheaper when the exchange rate is positively correlated with the return on the company's assets, even if the company is not an exporter. Prudential regulations should therefore differentiate among loans depending on the extent to which borrowers have "natural hedges" of their foreign currency exposures.

Author : Theodor Emanuel Gregory
Publisher : Unknown
Page : 128 pages
File Size : 54,9 Mb
Release : 1922
Category : Foreign exchange
ISBN : PRNC:32101068764859

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Foreign Exchange Before, During, and After the War by Theodor Emanuel Gregory Pdf

Author : John Pitchford
Publisher : Routledge
Page : 375 pages
File Size : 49,5 Mb
Release : 2002-03-11
Category : Business & Economics
ISBN : 9781134869503

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The Current Account and Foreign Debt by John Pitchford Pdf

It is generally assumed that current deficits are intrinsically bad and in need of correction. The Current Account and Foreign Debt argues that this is not always the case. The author analyses a broad range of issues in support of this argument. These include: * Approaches to current account balance * Short run issues * Longer run issues * Policy The book can be read as an integrated whole, or alternatively, each chapter can be consulted without reference to the others. The Current Account and Foreign Debt provides the counterbalance to a common misapprehension in economic theory. It will be a valuable guide for all those interested in international monetary theory.

Author : Mr.Ilhyock Shim,Sebnem Kalemli-Ozcan,Xiaoxi Liu
Publisher : INTERNATIONAL MONETARY FUND
Page : 40 pages
File Size : 40,6 Mb
Release : 2020-12-11
Category : Business & Economics
ISBN : 1513560948

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Exchange Rate Fluctuations and Firm Leverage by Mr.Ilhyock Shim,Sebnem Kalemli-Ozcan,Xiaoxi Liu Pdf

We quantify the effect of exchange rate fluctuations on firm leverage. When home currency appreciates, firms who hold foreign currency debt and local currency assets observe higher net worth as appreciation lowers the value of their foreign currency debt. These firms can borrow more as a result and increase their leverage. When home currency depreciates, the reverse happens as firms have to de-lever with a negative shock to their balance sheets. Using firm-level data for leverage from 10 emerging market economies during the period from 2002 to 2015, we show that firms operating in countries whose non-financial sectors hold more of the debt in foreign currency, increase (decrease) their leverage relatively more after home currency appreciations (depreciations). Combining the leverage data with firm-level FX debt data for 4 emerging market countries, we further show that our results hold at the most granular level. Our quantitative results are asymmetric: the effects of depre-ciations, that are generally associated with sudden stops, are quantitatively larger than those of appreciations, which take place at a slower pace over time during capital inflow episodes. As our exercise compares depreciations and appreciations of similar size, these results are suggestive of financial frictions being more binding during depreciations than a possible relaxation of such frictions during appreciations.

Author : Miguel S. Wionczek,Luciano Tomassini
Publisher : Routledge
Page : 407 pages
File Size : 44,9 Mb
Release : 2019-09-11
Category : Political Science
ISBN : 9781000307429

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Politics And Economics Of External Debt Crisis by Miguel S. Wionczek,Luciano Tomassini Pdf

Since 1981 Latin America has been in the midst of a protracted external debt crisis due, among other reasons, to emergency borrowing at record-high real interest rates and the decline in the region's export proceeds. Until now, most literature on the subject originated in industrial lender countries, whose primary concern is the impact of the debt

Author : Michael Hudson
Publisher : Unknown
Page : 232 pages
File Size : 41,6 Mb
Release : 1992
Category : Commerce
ISBN : UCSC:32106012476633

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Trade, Development and Foreign Debt by Michael Hudson Pdf

Author : Tu Hong
Publisher : Kluwer Law International B.V.
Page : 410 pages
File Size : 40,6 Mb
Release : 2004-01-01
Category : Business & Economics
ISBN : 9789041124265

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Foreign Exchange Control in China by Tu Hong Pdf

Foreign Exchange Control in China lays out comprehensively the compliance requirements, procedures and documentation for the conduct of foreign exchange transactions in China. Written in an easy-to-read format, the book is designed to help readers understand and handle the various complicated aspects and requirements of foreign exchange control in China. Compliance requirements for the current and capital accounts, foreign exchange settlements, use and administration of foreign exchange accounts, foreign debts and guarantees, import, export, service trade, bonded zones and qualified foreign institutional investors are closely examined with a list of the procedures to follow and applicable documentation provided. Contents are specially included to assist foreign investors deal with foreign exchange requirements whilst operating in China, including those for capital movements and remittance of profits and dividends out of China. Foreign Exchange Control in China is an indispensable guide to foreign investors and multinational companies as well as to lawyers, financial, accounting and tax professionals. This title forms part of the Asia Business Law Series. The Asia Business Law Series is published in cooperation with CCH Asia and provides updated and reliable practical guidelines, legislation and case law, in order to help practitioners, policy makers and scholars understand how business is conducted in the rapidly growing Asian market. This book was originally published by CCH Asia as the loose-leaf Foreign Exchange Control in China

Author : Edwin Robert Seligman
Publisher : Lundberg Press
Page : 94 pages
File Size : 54,6 Mb
Release : 2010-03
Category : Electronic
ISBN : 9781445541969

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Currency Inflation and Public Debts - An Historical Sketch by Edwin Robert Seligman Pdf

Many of the earliest books, particularly those dating back to the 1900s and before, are now extremely scarce and increasingly expensive. We are republishing these classic works in affordable, high quality, modern editions, using the original text and artwork.

Author : Helmut Reisen
Publisher : Edward Elgar Publishing
Page : 264 pages
File Size : 44,8 Mb
Release : 1994-01-01
Category : Business & Economics
ISBN : 1781959544

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Debt, Deficits, and Exchange Rates by Helmut Reisen Pdf

'The collection of essays would provide an excellent supplement to course texts by emphasising the practical applications of theoretical ideas to contemporary international issues.' - Nick Snowden, The Economic Journal '. . . this volume provides an interesting collection of papers for those seeking a better understanding of the financial aspects of LDEs' relations with the rest of the world and, in particular, for those wishing to explore the vastly different experience with foreign borrowing of East Asia, on the one hand, and Latin America, on the other.' - Ross McLeod, Asian-Pacific Economic Literature Debt, Deficits and Exchange Rates presents recent work by Helmut Reisen on current international monetary problems in East Asia and Latin America. Written over the last four years, these papers are readily accessible and of immediate policy relevance.

Author : Warren Pat Hogan
Publisher : Unknown
Page : 40 pages
File Size : 42,7 Mb
Release : 1987
Category : Balance of payments
ISBN : 0949269492

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International Debt and Foreign Exchange Markets by Warren Pat Hogan Pdf