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This paper takes stock of the evolution of the international monetary system over the last thousand years. Several points stand out from the analysis. One is the reluctance of governments to embrace radical changes in international monetary relations. Another is the conflict between external and...
Persistent link: https://www.econbiz.de/10005264089
Botswana is typical of the countries that are endowed with abundant natural resources. Although it is commonly accepted that resource-rich economies tend to fail in accelerating growth, Botswana has experienced the most remarkable economic performance in the region. Using the latest...
Persistent link: https://www.econbiz.de/10005263757
Two economists designed the main features of the charter of the IMF during World War II: John Maynard Keynes and Harry Dexter White. Several of those features are attributable primarily to White, including the adoption of fixed but adjustable exchange rates, the funding of operations with...
Persistent link: https://www.econbiz.de/10005768807
prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the … United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold …
Persistent link: https://www.econbiz.de/10008528618
would also facilitate a reduction in inflation, which would moderate gold imports and favorably impact real exchange rate …
Persistent link: https://www.econbiz.de/10011142116
prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the … United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold …
Persistent link: https://www.econbiz.de/10012677809
After moving slowly downward for the better part of four decades, central bank gold holdings have risen since the … Global Financial Crisis. We identify 14 "active diversifiers," defined as countries that purchased gold and raised its share … diversifiers into gold are exclusively emerging markets. We document two sets of factors contributing to this trend. First, gold …
Persistent link: https://www.econbiz.de/10015059812
This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and …, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically …-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This …
Persistent link: https://www.econbiz.de/10011142122
There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature … assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into … food and nonfood inflation and assessing whether food inflation affects income inequality differently from nonfood …
Persistent link: https://www.econbiz.de/10009618580
Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical … for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising …
Persistent link: https://www.econbiz.de/10009620963