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Devaluation (psychology)
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a ''revaluation''. A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate. However, under a floating exchange rate system (in which exchange rates are determined by Market (economics), market forces acting on the foreign exchange market, and not by government or central bank policy actions), a decrease in a currency's value relative to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macroeconomics
Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and government spending to regulate an economy's growth and stability. This includes regional, national, and global economies. According to a 2018 assessment by economists Emi Nakamura and Jón Steinsson, economic "evidence regarding the consequences of different macroeconomic policies is still highly imperfect and open to serious criticism." Macroeconomists study topics such as GDP (Gross Domestic Product), unemployment (including unemployment rates), national income, price indices, output, consumption, inflation, saving, investment, energy, international trade, and international finance. Macroeconomics and microeconomics are the two most general fields in economics. The United Nations Sustainable Development Goal 17 has a ta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redenomination
In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation. Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad. Inflation over time is the main cause for the purchasing power of the monetar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exporter
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an ''exporter''; the foreign buyer is an ''importer''. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights. Exportation of goods often requires the involvement of customs authorities. Firms Many manufacturing firms begin their global expansion as exporters and only later switch to another mode for serving a foreign market. Barriers There are four main types of export barriers: motivational, informational, operational/resource-based, and knowledge. Trade barriers are laws, regulations, policy, or practices that protect domestically made products from foreign competition. While restrictive business practices sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1994 Economic Crisis In Mexico
The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight. During the 1994 presidential election, the incumbent administration embarked on an expansionary fiscal and monetary policy. The Mexican treasury began issuing short-term debt instruments denominated in domestic currency with a guaranteed repayment in U.S. dollars, attracting foreign investors. Mexico enjoyed investor confidence and new access to international capital following its signing of the North American Free Trade Agreement (NAFTA). However, a violent uprising in the state of Chiapas, as well as the assassination of the presidential candidate Luis Donaldo Colosio, resulted in political instability, causing investors to place an increased risk premium on Mexican assets. In response, the Mexican central bank intervened in the f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Longman
Longman, also known as Pearson Longman, is a publisher, publishing company founded in London, England, in 1724 and is owned by Pearson PLC. Since 1968, Longman has been used primarily as an imprint by Pearson's Schools business. The Longman brand is also used for the Longman Schools in China and the ''Longman Dictionary of Contemporary English, Longman Dictionary''. History Beginnings The Longman company was founded by Thomas Longman (1699–1755), Thomas Longman (1699 – 18 June 1755), the son of Ezekiel Longman (died 1708), a gentleman of Bristol. Thomas was apprenticed in 1716 to John Osborn, a London bookseller, and at the expiration of his apprenticeship married Osborn's daughter. In August 1724, he purchased the stock and household goods of William Taylor (bookseller), William Taylor, the first publisher of ''Robinson Crusoe'', for 9s 6d. Taylor's two shops in Paternoster Row, London, were known respectively as the ''Black Swan (St. Paul's Churchyard), Black Sw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maurice Obstfeld Maurice Moses "Maury" Obstfeld (born March 19, 1952) is a professor of economics at the University of California, Berkeley and previously Chief Economist at the International Monetary Fund. He is also a nonresident senior fellow at the Peterson Institute for International Economics. He is well known for his work in international economics and his research on the global economy. He is among the most influential economists in the world according to IDEAS/RePEc. He graduated from |
