Anatomy Of Sudden Yen Appreciations PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Anatomy Of Sudden Yen Appreciations PDF full book. Access full book title Anatomy Of Sudden Yen Appreciations.

Anatomy of Sudden Yen Appreciations

Anatomy of Sudden Yen Appreciations
Author: Mr.Fei Han
Publisher: International Monetary Fund
Total Pages: 19
Release: 2019-07-01
Genre: Business & Economics
ISBN: 1498317340

Download Anatomy of Sudden Yen Appreciations Book in PDF, ePub and Kindle

The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure on domestic consumer prices. On the other hand, large and sharp appreciations run the risk of lowering actual and expected inflation, squeezing corporate profits, generating a negative wealth effect through depressed equity prices, and reducing confidence in the Bank of Japan’s efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important amplifiers.


Anatomy of Sudden Yen Appreciations

Anatomy of Sudden Yen Appreciations
Author: Mr.Fei Han
Publisher: International Monetary Fund
Total Pages: 19
Release: 2019-07-01
Genre: Business & Economics
ISBN: 1498325394

Download Anatomy of Sudden Yen Appreciations Book in PDF, ePub and Kindle

The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable economic developments such as increased corporate profits, rising equity prices, and upward pressure on domestic consumer prices. On the other hand, large and sharp appreciations run the risk of lowering actual and expected inflation, squeezing corporate profits, generating a negative wealth effect through depressed equity prices, and reducing confidence in the Bank of Japan’s efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important amplifiers.


Modern Monetary Theory

Modern Monetary Theory
Author: William Mitchell
Publisher: Lola Books
Total Pages: 358
Release: 2024-07-17
Genre: Business & Economics
ISBN: 3944203828

Download Modern Monetary Theory Book in PDF, ePub and Kindle

In this book, William Mitchell and Warren Mosler, original proponents of what's come to be known as Modern Monetary Theory (MMT), discuss their perspectives about how MMT has evolved over the last 30 years. In delightful, entertaining, and informative way, Bill and Warren reminisce about how, from vastly different backgrounds, they came together to develop MMT. They consider the history and personalities of the MMT community, including anecdotal discussions of various academics who took up MMT and who have gone off in their own directions that depart from MMT's core logic. A very much needed book that provides the reader with a fundamental understanding of the original logic behind 'The MMT Money Story' including the role of coercive taxation, the source of unemployment, the source of the price level, and the imperative of the Job Guarantee as the essence of a progressive society – the essence of Bill and Warren's excellent adventure. The introduction is written by British academic Phil Armstrong.


Japan

Japan
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
Total Pages: 119
Release: 2020-02-10
Genre: Business & Economics
ISBN: 1513529390

Download Japan Book in PDF, ePub and Kindle

This 2019 Article IV Consultation with Japan highlights that the rapid aging and shrinking of Japan’s population has become central to macroeconomic policies and outcomes. The consultation centered on the macroeconomic effects of Japan’s demographics. Mutually reinforcing policies are needed to lift current and expected inflation, stabilize public debt, and raise potential growth. Underlying growth is expected to remain resilient but will be increasingly challenged by slowing external demand and intensifying demographic headwinds. Growth in domestic demand is being eroded by the weaker external environment. Frontloading of private consumption ahead of the October 2019 consumption tax rate increase appears to have been smaller than in 2014.


Commodities

Commodities
Author: M. A. H. Dempster
Publisher: CRC Press
Total Pages: 864
Release: 2022-12-09
Genre: Business & Economics
ISBN: 1000784045

Download Commodities Book in PDF, ePub and Kindle

Since a major source of income for many countries comes from exporting commodities, price discovery and information transmission between commodity futures markets are key issues for continued economic development. Commodities: Fundamental Theory of Futures, Forwards, and Derivatives Pricing, Second Edition covers the fundamental theory of and derivatives pricing for major commodity markets, as well as the interaction between commodity prices, the real economy, and other financial markets. After a thoroughly updated and extensive theoretical and practical introduction, this new edition of the book is divided into five parts – the fifth of which is entirely new material covering cutting-edge developments. Oil Products considers the structural changes in the demand and supply for hedging services that are increasingly determining the price of oil Other Commodities examines markets related to agricultural commodities, including natural gas, wine, soybeans, corn, gold, silver, copper, and other metals Commodity Prices and Financial Markets investigates the contemporary aspects of the financialization of commodities, including stocks, bonds, futures, currency markets, index products, and exchange traded funds Electricity Markets supplies an overview of the current and future modelling of electricity markets Contemporary Topics discuss rough volatility, order book trading, cryptocurrencies, text mining for price dynamics and flash crashes


What Do Deviations from Covered Interest Parity and Higher FX Hedging Costs Mean for Asia

What Do Deviations from Covered Interest Parity and Higher FX Hedging Costs Mean for Asia
Author: Mr.Gee Hee Hong
Publisher: International Monetary Fund
Total Pages: 35
Release: 2019-08-02
Genre: Business & Economics
ISBN: 1513509004

Download What Do Deviations from Covered Interest Parity and Higher FX Hedging Costs Mean for Asia Book in PDF, ePub and Kindle

Asian countries have high demand for U.S. dollars and are sensitive to U.S. dollar funding costs. An important, but often overlooked, component of these costs is the basis spread in the cross-currency swap market that emerges when there are deviations from covered interest parity (CIP). CIP deviations mean that investors need to pay a premium to borrow U.S. dollars or other currencies on a hedged basis via cross-currency swap markets. These deviations can be explained by regulatory changes since the global financial crisis, which have limited arbitrage opportunities and country-specific factors that contribute to a mismatch in the demand and supply of U.S. dollars. We find that an increase in the basis spread tightens financial conditions in net debtor countries, while easing financial conditions in net creditor countries. The main reason is that net debtor countries are, in general, unable to substitute smoothly to other domestic funding channels. Policies that promote reliable alternative funding sources, such as long-term corporate bond market or stable long-term investors, including a “hedging counterpart of last resort,” can help stabilize financial intermediation when U.S. dollar funding markets come under stress.


Japanese Monetary Policy

Japanese Monetary Policy
Author: Kenneth J. Singleton
Publisher: University of Chicago Press
Total Pages: 208
Release: 2007-12-01
Genre: Business & Economics
ISBN: 0226760685

Download Japanese Monetary Policy Book in PDF, ePub and Kindle

How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.


World Economic Outlook, April 2016

World Economic Outlook, April 2016
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 230
Release: 2016-04-12
Genre: Business & Economics
ISBN: 1498398588

Download World Economic Outlook, April 2016 Book in PDF, ePub and Kindle

Major macroeconomic realignments are affecting prospects differentially across the world’s countries and regions. The April 2016 WEO examines the causes and implications of these realignments—including the slowdown and rebalancing in China, a further decline in commodity prices, a related slowdown in investment and trade, and declining capital flows to emerging market and developing economies—which are generating substantial uncertainty and affecting the outlook for the global economy. Additionally, analytical chapters examine the slowdown in capital flows to emerging market economies since their 2010 peak—its main characteristics, how it compares with past slowdowns, the factors that are driving it, and whether exchange rate flexibility has changed the dynamics of the capital inflow cycle—and assess whether product and labor market reforms can improve the economic outlook in advanced economies, looking at the recent evolution and scope for further reform, the channels through which reforms affect economic activity under strong versus weak economic conditions, reforms’ short- to medium-term macroeconomic effects, and sequencing of reforms and coordination with other policies to maximize their potential quantitative economic benefits. A special feature analyzes in depth the energy transition in an era of low fossil fuel prices.


Managing Capital Flows

Managing Capital Flows
Author: Masahiro Kawai
Publisher: Edward Elgar Publishing
Total Pages: 465
Release: 2010-01-01
Genre: Business & Economics
ISBN: 184980687X

Download Managing Capital Flows Book in PDF, ePub and Kindle

Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.


The ASEAN Way

The ASEAN Way
Author: Ms.Ana Corbacho
Publisher: International Monetary Fund
Total Pages: 311
Release: 2018-10-02
Genre: Business & Economics
ISBN: 1513558900

Download The ASEAN Way Book in PDF, ePub and Kindle

The first part of the book examines the evolution of monetary policy and prudential frameworks of the ASEAN5, with particular focus on changes since the Asian financial crisis and the more recent period of unconventional monetary policy in advanced economies. The second part of the book looks at policy responses to global financial spillovers. The third and last part of the book elaborates on the challenges ahead for monetary policy, financial stability frameworks, and the deepening of financial markets.