Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

A powerful new understanding of global currency trends, including the rise of the Chinese yuanAt first glance, the modern history of the global economic system seems to support the long-held view that the leading world power's currency-the British pound, the U.S. dollar, and perhaps someday the Chinese yuan-invariably dominates international trade and finance. In How Global Currencies Work, three noted economists provide a reassessment of this history and the theories behind the conventional wisdom.Offering a new history of global finance over the past two centuries, and marshaling extensive new data to test established theories of how global currencies work, Barry Eichengreen, Arnaud Mehl, and Livia Chiţu argue for a new view, in which several national monies can share international currency status, and their importance can change rapidly. They demonstrate how changes in technology and in the structure of international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. They show that multiple international and reserve currencies have in fact coexisted in the pastupending the traditional view of the British pound's dominance prior to 1945 and the U.S. dollar's dominance more recently.Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, from whether the euro and the Chinese yuan might address their respective challenges and perhaps rival the dollar, to how increased currency competition might affect global financial stability.

Valute. --- Money. --- International finance. --- Account (accountancy). --- Annual report. --- Asset. --- Balance sheet. --- Bank for International Settlements. --- Bank of England. --- Bank of Japan. --- Bank rate. --- Bank. --- Barry Eichengreen. --- Bond (finance). --- Bretton Woods system. --- Canadian dollar. --- Capital control. --- Capital market. --- Central bank. --- Commodity. --- Credibility. --- Credit (finance). --- Credit risk. --- Currency Internationalization. --- Currency competition. --- Currency swap. --- Currency. --- Current account. --- Customer. --- Debt. --- Deflation. --- Determinant. --- Deutsche Mark. --- Devaluation. --- Discounts and allowances. --- Economics. --- Economist. --- Economy. --- Endogeneity (econometrics). --- Estimation. --- European Central Bank. --- Exchange rate. --- Export. --- Federal Reserve Bank. --- Fiat money. --- Finance. --- Financial crisis. --- Financial deepening. --- Financial institution. --- Financial transaction. --- Foreign Exchange Reserves. --- Foreign direct investment. --- Foreign exchange market. --- French franc. --- Gold reserve. --- Gold standard. --- Government debt. --- Gross world product. --- Import. --- Inflation. --- Institution. --- Interest rate. --- International Monetary Fund. --- International monetary systems. --- International trade. --- Internationalization. --- Investment. --- Investor. --- Invoice. --- Issuer. --- Liberalization. --- Local currency. --- Market capitalization. --- Market liquidity. --- Market participant. --- Monetary policy. --- Money market. --- Natural monopoly. --- Network effect. --- Payment. --- Pound sterling. --- Receipt. --- Renminbi. --- Reserve currency. --- Securitization. --- Security (finance). --- Sterling area. --- Store of value. --- Supply (economics). --- Swiss franc. --- Tax. --- Trade credit. --- Treasury Bill. --- U.S. Bancorp. --- Underwriting. --- Unit of account. --- United States dollar. --- Valuation effects. --- World War II. --- World currency. --- World economy.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

"Inflation, in which all prices and wages in an economy rise, is mysterious. If a war breaks out in the Middle East, and the price of oil goes up, the mechanism is no great mystery-supply and demand often work pretty visibly. But if you ask the grocer why the price of bread is higher, he or she will blame the wholesaler, who will blame the baker, who will blame the wheat supplier, and so on. Perhaps the ultimate cause is a government printing more money, but there is really no way to know this for certain but to sit down in an office with statistics, armed with some decent economic theory. But current economic theory doesn't really explain why we haven't seen inflation for so long, and more and more economists think that current theory doesn't hold together, or provide much guidance for how central banks should behave if inflation does break out. Many also worry that central banks have much less power over the economy than they think they do, and much less understanding of the mechanism behind what power they do have. The Fiscal Theory of the Price Level is a comprehensive new approach to monetary policy. Economist John Cochrane argues that money has value because the government accepts it for tax payments. This insight, he argues, leads to a deep re-reading of monetary policy and institutions. Inflation comes when a government is unable to repay its debts, rather than from mismanagement of the split of debt between money and bonds. In the book, he will analyze institutional design, historical episodes, and compare fiscal theory to the Keynesian and new-Keynesian theory based on interest rate targets, and to monetarism. The book offers an overview and introduction to the range of contemporary monetary economics and history of thought as well as the fiscal theory"--

Inflation (Finance) --- Monetary policy. --- Prices. --- BUSINESS & ECONOMICS / Economics / Macroeconomics. --- Accounting rate of return. --- Asset price inflation. --- Bond Yield. --- Central bank. --- Consumer debt. --- Consumer economy. --- Consumption (economics). --- Credit (finance). --- Credit risk. --- Credit spread (options). --- Currency crisis. --- Currency swap. --- Currency union. --- Currency. --- Debt limit. --- Debt-to-GDP ratio. --- Debt. --- Default (finance). --- Diversification (finance). --- Econometrics. --- Economic equilibrium. --- Economic planning. --- Economics. --- Exchange rate. --- Finance. --- Financial correlation. --- Financial economics. --- Fiscal adjustment. --- Fiscal gap. --- Fiscal multiplier. --- Fiscal policy. --- Fiscal space. --- Fiscal theory of the price level. --- Fixed exchange-rate system. --- Functional finance. --- GDP deflator. --- GDP-linked bond. --- Government budget balance. --- Government debt. --- Inflation swap. --- Inflation targeting. --- Inflation tax. --- Inflation. --- Interest Cost. --- Interest rate risk. --- Interest rate. --- Keynesian economics. --- Liability (financial accounting). --- Liquidity premium. --- Macroeconomic model. --- Macroeconomics. --- Marginal rate of substitution. --- Mark-to-market accounting. --- Market Risk Premium. --- Market clearing. --- Market liquidity. --- Market price. --- Microeconomic reform. --- Modern Monetary Theory. --- Monetarism. --- Monetary Theory. --- Monetary authority. --- Monetary reform. --- Monetary system. --- Money market. --- Money multiplier. --- Nominal interest rate. --- Price Change. --- Price controls. --- Price elasticity of demand. --- Price fixing. --- Price index. --- Price level. --- Public finance. --- Quantity theory of money. --- Real business-cycle theory. --- Real interest rate. --- Real versus nominal value (economics). --- Relative value (economics). --- Risk premium. --- Share price. --- Stochastic discount factor. --- Stock valuation. --- Supply (economics). --- Supply-side economics. --- Swap (finance). --- Tax and spend. --- Tax avoidance. --- Tax policy. --- Tax reform. --- Tax. --- Terminal value (finance). --- The General Theory of Employment, Interest and Money. --- The Wealth Effect. --- Tight Monetary Policy. --- Trade credit. --- Treasury Bill. --- Valuation (finance). --- Value (economics). --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Finance --- Natural rate of unemployment --- Prices --- Monetary policy

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Growing research and policy interest focuses on the misallocation of output and factors of production in developing economies. This paper considers the possible misallocation of financial loans. Using plant-level data on the organized and unorganized sectors, the paper describes the temporal, geographic, and industry distributions of financial loans. The focus of the analysis is the hypothesis that land misallocation might be an important determinant of financial misallocation (for example, because of the role of land as collateral against loans). Using district-industry variations, the analysis finds evidence to support this hypothesis, although it does not find a total reduction in the intensity of financial loans or those being given to new entrants. The analysis also considers differences by gender of business owners and workers in firms. Although potential early gaps for businesses with substantial female employment have disappeared in the organized sector, a sizeable and persistent gap remains in the unorganized sector.

Access to banking --- Access to credit --- Access to external finance --- Access to finance --- Access to financial services --- Access to formal credit --- Access to formal finance --- Access to loans --- Asymmetric information --- Bank branches --- Bank credit --- Bank financing --- Bank loan --- Bank loans --- Banking --- Banking services --- Banks --- Banks and banking reform --- Biases --- Borrower --- Borrowers --- Borrowing --- Business owners --- Business plans --- Capital --- Co-operative banks --- Collateral --- Collateral requirements --- Collateral support --- Commercial banks --- Cost of capital --- Credit --- Credit bureaus --- Credit information --- Credit market --- Credit markets --- Credit policy --- Credit registries --- Credit risk --- Credit support --- Credit-worthiness --- Creditworthiness --- Debt collectors --- Debt markets --- Directed credit --- Disparities in access --- Econometrics --- Economic activity --- Economic growth --- Economic policy --- Economics --- Employment --- Enterprise --- Enterprise development --- Entrepreneur --- Entrepreneurs --- Entrepreneurship --- Equity --- Exclusion --- External finance --- External financing --- Finance and financial sector development --- Financial access --- Financial deepening --- Financial depth --- Financial development --- Financial institutions --- Financial integration --- Financial markets --- Financial sector --- Financial sector development --- Financial services --- Financial strength --- Financing --- Fixed assets --- Formal credit --- Formal finance --- Gender --- Gender inequality --- Government policy --- Governments --- Guarantee --- Households --- Housing --- Human capital --- Inequality --- Information sharing --- Infrastructure --- Intangible assets --- Interest expense --- Interest payment --- Interest rate --- Investment --- Issue of access --- Job creation --- Labor --- Labor market --- Labor markets --- Lack of collateral --- Land markets --- Lenders --- Lending --- Liberalization --- Loan --- Loan access --- Loan demand --- Loans --- Macroeconomics --- Marginal revenue --- Market value --- Markets --- Micro enterprises --- Micro-credit --- Micro-enterprises --- Micro-entrepreneurs --- Micro-finance --- Micro-finance institutions --- Microfinance --- Monetary policy --- Money lenders --- Net value --- Outreach --- Outstanding loan --- Outstanding loans --- Overdraft --- Personal assets --- Private enterprise --- Private enterprises --- Profitability --- Property --- Real estate --- Repossession --- Reserve bank of india --- Resource allocation --- Revenue --- Risk --- Risk perception --- Rural bank --- Rural bank branches --- Services --- Sizes of loan --- Small business --- Small business owners --- Small businesses --- Strategies --- Tangible assets --- Taxes --- Trade credit --- Trade credits --- Transport --- Union --- Urban areas --- Value --- Villages --- Water & industry --- Water resources --- Water supply --- Working capital