 another joint venture bank established the international bank of paris and shanghai

Banking reforms in the transitional economy of china

Ngày tải lên : 11/09/2015, 14:38

... “monobanking” system with only three main players, namely, the central bank, PBC, the Bank of China and the People’s Construction Bank of China While the Bank of China took care of the international ... Together with the Bank of China and the People’s Construction Bank of China, It was later renamed as China Construction Bank 16 the Agricultural Bank of China and the Industrial and Commercial Bank ... commercial banks could now also compete for the same business as the Bank of China These are the Agricultural Development Bank, the Export and Import Bank of China, and the State Development Bank which...

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Tài liệu Research " TWO ESSAYS IN INTERNATIONAL ECONOMICS: AN EMPIRICAL APPROACH TO PURCHASING POWER PARITY AND THE MONETARY MODEL OF EXCHANGE RATE DETERMINATION " pdf

Ngày tải lên : 18/02/2014, 11:20

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VIETNAM’S EXCHANGE RATE POLICY AND IMPLICATIONS FOR ITS FOREIGN EXCHANGE MARKET, 1986-2009 doc

Ngày tải lên : 07/03/2014, 18:20

... through the setting of both the official exchange rate and the allowable trading band, frequent instances of nonclearance of the market were unavoidable During much of the period under study, the ... and the mechanisms which have been developed to support these preferences Section draws the main implications of the conduct of exchange rate policy for the development and current state of the ... comparable to (and at times even lower than) that for the VND/USD Thus, the volatility of the VND relative to the USD has been much lower than that of the currencies of the UK, Japan, or Thailand, but...

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Capital account liberalization and choice of exchange rate regimes the case of china

Ngày tải lên : 02/10/2015, 12:56

... entirely forbidden Banks and other financial institutions were established for the sole purpose of supporting the government’s economic plan The central bank, the People’s Bank of China (PBC), was ... set of macroeconomic indicators of China with those of other Asian and Latin American developing countries The capital accounts of these nations either are open or were once open The choice of ... ratio of the four pillar state-owned-banks in China was only 4.4 per cent by the end of 1999, lower than per cent required by the Bank of International Settlement and China's own commercial bank...

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Revision of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) Indices.doc

Ngày tải lên : 17/09/2012, 16:47

... perspective, the choice of SDR as numeraire facilitates inclusion of the US, which is a major trading partner of India The exchange rate of a currency is expressed as the number of units of numaraire ... ‘i’ against the numeraire (SDRs) in indexed form V BASE YEAR The monthly average of the REER and NEER for the base year is benchmarked to the level of 100 As against the practice of having three ... 100.00 The use of bilateral trade and export weights is based on the restrictive assumption that from buyer’s point of view, the elasticity of substitution between the sources of supply is zero The...

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Unit 9 exchange rate key

Ngày tải lên : 12/08/2013, 14:27

... in the late 1990s, over $300 billion worth of currency was traded on an average day- the equivalent of about 30 %of the value of the goods Britain produces each year Banks, of course, make a profit ... money of a country If a country will redeem any of its money in gold it is said to be using the gold standard The U.S and many other Western countries adhered to the gold standard during the early ... by supply and demand E trying to insure against unfavorable price movements by way of futures contract F the determination of price by supply and demand ( the quantity available and the quantity...

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Tài liệu Exchange rate exposure doc

Ngày tải lên : 12/12/2013, 17:15

... next regress the square-root of the absolute value of the exposure betas on the same set of firm and industry characteristics.34 The results are reported in Part B of Table The number of significant ... Italy and the Netherlands firms in the Mining, Oil and Gas industry are less exposed than other firms, while the reverse is true in Japan and the UK The one industry in which firms across all the ... dollar in the full sample and each of the three subsamples In general, the extent of exposure is about the same in the full and in the three subsamples.26 This suggests that our finding of exposure...

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Tài liệu Doubler for Extending Reach of Two-Pair Fixed Rate HDSL docx

Ngày tải lên : 21/12/2013, 06:20

... Specifications published here are current as of the date of publication of this document Because we are continuously improving our products, ADC reserves the right to change specifications without ... discharge tubes) as part of enclosure Compliance: ETSI TS101135 and ITU-T G.991.1 Power Power Consumption: 2.5W Power Input: 75VDC minimum, 120VDC maximum applied between Tip and Ring on each HDSL ... air filled stub *Note: Effective January 2001, if a CE mark is required, change the Catalog No to “EDU-840, L3” and the Part No to “150-1450-11C” Single Doubler Reach Two Doublers Reach 20 16 Maximum...

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Tài liệu The importance of interest rates for forecasting the exchange rate doc

Ngày tải lên : 15/02/2014, 05:20

... and χ2(4)= 18.58 [0.00] respectively) However, neither of these two hypothesis can be rejected when the rest of the cointegrating vectors are left unrestricted, implying that the hypotheses of ... evidence using the MAE metric (se Table 3) strengthens the results reported above The structural EqCM performs the best of all the models at all horizons (with the exception of the horizon of four quarters, ... is the forecast of (the log of) the actual exchange rate (and not its change) that are compared Following Meese and Rogoff (1983), we perform an out -of- sample forecasting exercise comparing the...

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Tài liệu Research " Stabilization Programs, Monetary Policy and Exchange Rate Movements in Emerging Markets Economies " doc

Ngày tải lên : 18/02/2014, 11:20

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Do Central Banks Respond to Exchange Rate Movements? A Structural Investigation¤ potx

Ngày tải lên : 06/03/2014, 14:20

... respond to exchange rates The main result of this paper is that the central banks of Australia, New Zealand and the U.K not, whereas the Bank of Canada does include the nominal exchange rate ... endogenizing the terms of trade results in the loss of an exogenous shock in the equation system, namely the innovation to the terms of trade in Eq (5) The covariance matrix of the system and, consequently, ... with the notion that the Bank of Canada pays close attention to exchange rate movements on account of its pioneering use of an MCI in gauging nominal demand pressures Neither the Bank of England...

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Research " On Fiscal Discipline and the Choice of Exchange Rate Regine " pptx

Ngày tải lên : 07/03/2014, 02:20

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THE ECONOMICS OF THE EXCHANGE RATE

Ngày tải lên : 12/03/2014, 16:05

... (in-samples test), lại Trang The Economics of Exchange Rate – Mark P Taylor cho kết ý nghĩa thống kê đánh giá mẫu (out -of- samples test) so sánh với mô hình thay đổi ngẫu nhiên (random walk) Các mô hình ... gia Trang The Economics of Exchange Rate – Mark P Taylor thị trường họ kỳ vọng mức vào hội kinh doanh Taylor trình bày mở rộng phân tích thêm hai quy luật mà thị trường ngoại hối tuân theo lý thuyết ... The Economics of Exchange Rate – Mark P Taylor Bài nghiên cứu Taylor tổng hợp từ tất mà nhà kinh tế học...

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Báo cáo khoa học: Modeling of ATP–ADP steady-state exchange rate mediated by the adenine nucleotide translocase in isolated mitochondria potx

Ngày tải lên : 16/03/2014, 00:20

... Modeling of ANT The positive current direction is from the matrix to the intramembrane space The integer coefcients of the right-hand side of the second equation of the system (3) were chosen on the ... by the ANT As also seen in Fig 3, the calculated values of the protonmotive force (PMF) in the presence of nigericin are higher than those in the absence of the ionophore The calibration of the ... re-entry of protons into the matrix, bypassing F0 F1-ATPsynthase [6] The dotted line shows the result of the modeling after estimation of the unknown parameters The con- Modeling of ANT ditions of the...

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The sensitivity of bank stock returns to market, interest and exchange rate risks docx

Ngày tải lên : 22/03/2014, 17:20

... further by the banking model in the next section, will be estimated for individual banks and a portfolio of banks with and without the imposition of factor orthogonality Specification of the ... whether the bank is a money-center bank, and (b) whether the time period in which the bank is operating is the post-October 1979 period Since it is possible that structural change and the bank ... Estimation of bank stock returns 1001 of factor risk premia For the sample of banks used in this study the above analysis establishes the significance of the sensitivity of bank stock returns to the...

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WORKING PAPER NO. 218 THE ZERO-INTEREST-RATE BOUND AND THE ROLE OF THE EXCHANGE RATE FOR MONETARY POLICY IN JAPAN potx

Ngày tải lên : 22/03/2014, 23:20

... that the central bank adopts the proposal in the 11th period of the simulation Important choice variables are the initial price level of the implied target path, the extent of the devaluation and ... indicate the upward bias in the standard deviation of output and inﬂation as a function of the equilibrium nominal interest rate For example, for an i∗ of 1% the standard deviation of the output ... above, the distortion of output and inﬂation distributions is driven by a distortion of the real interest rate The left-hand panels of Figure report the upward bias in the mean real rate and the...

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Derivative Exposure and the Interest Rate and Exchange Rate Risks of U.S. Banks ppt

Ngày tải lên : 29/03/2014, 13:20

... nature of these risks The results of this study provide the first formal estimates of the joint effect of derivative exposures on the systematic interest rate and exchange rate risks of U S banks The ... Kane and Unal (1990) similarly characterize the off-balance sheet activities as a “hidden capital” of the bank product outside the bank directly affects the value of derivatives held by the bank ... effect of traditional off-balance sheet activities on bank risk and profits in general, and not focus on the effect of derivatives on systematic exchange rate and interest rate risks of banks...

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The Exchange Rate Exposure of U.S. and Japanese Banking Institutions potx

Ngày tải lên : 29/03/2014, 13:20

... competition, the demand for loans, and other aspects of banking conditions The purpose of this paper is to examine the size and significance of the exchange rate exposure in the banking industry and to ... exporter’s profitability, it can affect the probability of loan default and, correspondingly, the value of the loan and the profitability of the bank 15 The estimates of exchange rate exposure provided ... summarizes the results of the estimation The table provides statistics that describe median estimates and the standard deviation of the estimates, some aspects of its range, and the number of firms...

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Research " SOME MARCOECONOMIC ISSUES UNDER ALTERNATIVE EXCHANGE RATE REGIMES " pot

Ngày tải lên : 30/03/2014, 01:20

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Thuyết trình Exchange Rate pass-through and monetary policy in Croatia

Ngày tải lên : 10/04/2014, 13:10

... nghiên cứu trước  Krugman , 1987, “Pricing to market when the exchange rate changes”  Nghiên cứu vào phân tích chứng việc định giá theo thị trường – định nghĩa việc trì nâng giá hàng hóa xuất ... dẫn hoàn toàn đến giá nhập Tổng quan nghiên cứu trước  Gosh and Wolf, 2001, “Imperfect Exchange Rate PassThrough: Strategic Pricing and Menu Costs”  Nghiên cứu hiệu ứng truyền dẫn ngắn hạn không ... đưa vào phân tích nghiên cứu Tổng quan nghiên cứu trước  McCarthy, 2000, “Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies”  Bài báo nghiên...

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