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In the late 1990s, private markets were widely assumed to have triumphed over the sta... of private markets over the interventionist state seems far from the mark. Today's global econ... financial assets in government hands, the foreign assets of key emerging market governments are grow...Foreign exchange traders believe that, through its sale of dollars ...
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The US Treasury acted recently to preempt problems in another area of the financial system weakened by the current crisis -- US money-market mutual funds. In September 2008 the Treasury announced it would create a temporary insurance program for money-market mutual funds. The Treasury will use the near $50 billion worth of assets of a little-known agency within the department, the Exchange Stabilization Fund (ESF), to guarantee payments of money-market-mutual-fund liabilities for up to one year. Details about the new insurance program are not yet available, but a look at the origin and history of the ESF reveals how different such a role is from any use the ESF has been put to before. In addition to foreign-exchange intervention, the ESF has provided temporary stabilization loans to sel...
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... capital inflows, pushing up official foreign exchange reserves to more than $600 billion by end... responded by stepping up sterilized intervention, easing restrictions on selected capital outflows,.... Fast economic growth and market opening have made China a magnate for foreign inve...
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After mounting an intervention of words, Brazil has taken concrete steps to fight... inflows into the local fixed-income market. Government authorities also expanded the Treasury...When Brazil doubled its tax on foreign purchases of local bonds in early October, specula...Are there other side effects beyond the exchange rate? Fiscal gains from the tax on capital inflows...
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... principles of open competition, unfettered market access, transparency and fair dealing for our busi... security, energy, the environment and foreign relations. In addition to intellectual property is... is never going to win a tit-to-tat exchange of tariffs or trade restrictions with us under tho... undervalued currency through massive intervention in the foreign exchange market, as I know you all ...
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... has been aided by recapitalizations, foreign firms taking strategic stakes, and IPOs which have...Efforts to develop the corporate bond market and consumer finance are picking up. Make no mist... realm of monetary policy, including the exchange rate regime. Simply put, a more autonomous and ef..., heavy foreign exchange market intervention by China to manage the currency has led to excess ...
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... and intervene more frequently in the foreign exchange market than their advanced economy counte...* Foreign Exchange Market Intervention in Inflation Targeting Policy Implementation. * Tr...
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... of Colorado, Boulder and NBER, "Foreign Firms, Domestic Wages" . Richard Baldwin, Universi... of Toronto and NBER, "Does Improved Market Access Raise Plant-Level Productivity?" . Jiandong... Despite the expensive nature of this intervention, remarkably little is known about its causal impac.... A general goal for stock exchanges is to increase participation by firms and investor...
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... exchange rate and the policy trade-offs, foreign exchange market intervention within inflation-targ...
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... the role of the relative prices (or exchange rate) in balance of payments adjustments by consid... they assume equilibrium in the money market. . The next section explores the existing empirica...R = foreign assets of the central bank . Government spending a... and, in the absence of government intervention, real income tends to remain below the level of fu...