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Exports --- Exports --- International trade --- International trade --- management. --- management --- financing --- financing --- Advertising --- Advertising --- Regulations --- Regulations

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This chapter focuses on the impact of monetary and fiscal policy under the flexible exchange rates and alternative expectations structures. Several economists have argued that, to understand recent exchange rate movements, one must examine the process by which exchange rate expectations are formulated. In order to describe the influence of exchange rate expectations on the adjustment process, this paper examines a small, open economy's response to either an increase in the money supply or a higher level of debt-financed government spending under the assumption that exchange rate expectations are either rational, semi-rational, or adaptive. It is argued that the economy's response to an increase in the money supply is much more sensitive to the expectations structure than is its response to an increase in government spending. The analysis also shows that, following an increase in the money supply, the exchange rate will overshoot its long term value regardless of the type of expectations structure that exists. The domestic interest rate will be the variable most strongly influenced by the way the private sector formulates its expectations.

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Commercial products --- Exports --- Malaysia --- Commerce --- Economic conditions --- 339.5 --- 330.35 --- -Exports --- -International trade --- Commodities --- Economic goods --- Merchandise --- Products, Commercial --- Commodity exchanges --- Manufactures --- Substitute products --- Buitenlandse handel. Internationale handel. Ruilvoet --- Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Contracting out --- Commerce. --- Economic conditions. --- -Buitenlandse handel. Internationale handel. Ruilvoet --- 330.35 Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- 339.5 Buitenlandse handel. Internationale handel. Ruilvoet --- -339.5 Buitenlandse handel. Internationale handel. Ruilvoet --- International trade --- Commercial products - Malaysia --- Exports - Malaysia --- Malaysia - Commerce --- Malaysia - Economic conditions

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Industrial economics --- Economic goods --- Brazil --- Industrial equipment --- -Investments, Foreign --- -Capital exports --- Capital imports --- FDI (Foreign direct investment) --- Foreign direct investment --- Foreign investment --- Foreign investments --- International investment --- Offshore investments --- Outward investments --- Capital movements --- Investments --- Capital equipment --- Capital goods --- Equipment, Capital --- Equipment, Industrial --- Industries --- Machinery --- Equipment and supplies --- -Industrial equipment --- Investments, Foreign --- Equipement industriel --- Investissements étrangers --- Brésil

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This paper highlights that IMF activities in the first three months of 1977 were marked by a number of “firsts.” In addition to approving the largest stand-by arrangement in its history—the SDR 3.36 billion for the United Kingdom—the IMF welcomed its first new member of the year: Guinea-Bissau; held its first gold auction on behalf of the Trust Fund under the new schedule of monthly auctions; made its first loan disbursements as a Trustee of the Trust Fund; and held the first sale of gold for “restitution.”.

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