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International Macroeconomics
International finance (also referred to as international monetary economics or international macroeconomics) is the branch of monetary and macroeconomic interrelations between two or more countries. International finance examines the dynamics of the global financial system, international monetary systems, balance of payments, exchange rates, foreign direct investment, and how these topics relate to international trade. Sometimes referred to as multinational finance, international finance is additionally concerned with matters of international financial management. Investors and multinational corporations must assess and manage international risks such as political risk and foreign exchange risk, including transaction exposure, economic exposure, and translation exposure. Some examples of key concepts within international finance are the Mundell–Fleming model, the optimum currency area theory, purchasing power parity, interest rate parity, and the international Fisher effe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock exchange in the world by market capitalization, exceeding $25 trillion in July 2024. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists (ticker symbol ICE). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext. According to a Gallup, Inc., Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds, or 401(k), retirement accounts. __FORCETOC__ History The earliest recorded organization of Security (finance), securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously, secu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mundell–Fleming Model
The Mundell–Fleming model, also known as the IS-LM-BoP model (or IS-LM-BP model), is an economic model first set forth (independently) by Robert Mundell and Marcus Fleming. Reprinted in Reprinted in The model is an extension of the IS–LM model. Whereas the traditional IS-LM model deals with economy under autarky (or a closed economy), the Mundell–Fleming model describes a small open economy. The Mundell–Fleming model portrays the short-run relationship between an economy's nominal exchange rate, interest rate, and output (in contrast to the closed-economy IS-LM model, which focuses only on the relationship between the interest rate and output). The Mundell–Fleming model has been used to argue that an economy cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. An economy can only maintain two of the three at the same time. This principle is frequently called the " impossible trinity," "unholy trinity," "ir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paper Money
Paper money, often referred to as a note or a bill (North American English), is a type of negotiable promissory note that is payable to the bearer on demand, making it a form of currency. The main types of paper money are government notes, which are directly issued by political authorities, and banknotes issued by banks, namely banks of issue including central banks. In some cases, paper money may be issued by other entities than governments or banks, for example merchants in pre-modern China and Japan. "Banknote" is often used synonymously for paper money, not least by collectors, but in a narrow sense banknotes are only the subset of paper money that is issued by banks. Paper money is often, but not always, legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Counterfeiting, including the forgery of paper money, is an inherent challenge. It is countered by anticounterfeiting measures in the printing of paper money. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which, when offered ("tendered") in payment of a debt, extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. It is generally only mandatory to recognize the payment of legal tender in the discharge of a monetary debt from a debtor to a creditor. Sellers offering to enter into contractual relationship, such as a contract for the sale of goods, do not need to accept legal tender and may instead contractually require payment using electronic methods, foreign currencies or any other legally recognized object of value. Coins and banknotes are usually defined as legal tender in many countries, but personal cheque, checks, credit c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sichuan
Sichuan is a province in Southwestern China, occupying the Sichuan Basin and Tibetan Plateau—between the Jinsha River to the west, the Daba Mountains to the north, and the Yunnan–Guizhou Plateau to the south. Its capital city is Chengdu, and its population stands at 83 million. Sichuan neighbors Qinghai and Gansu to the north, Shaanxi and Chongqing to the east, Guizhou and Yunnan to the south, and Tibet to the west. During antiquity, Sichuan was home to the kingdoms of Ba and Shu until their incorporation by the Qin. During the Three Kingdoms era (220–280), Liu Bei's state of Shu was based in Sichuan. The area was devastated in the 17th century by Zhang Xianzhong's rebellion and the area's subsequent Manchu conquest, but recovered to become one of China's most productive areas by the 19th century. During World War II, Chongqing served as the temporary capital of the Republic of China, and was heavily bombed. It was one of the last mainland areas captured ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ming Dynasty
The Ming dynasty, officially the Great Ming, was an Dynasties of China, imperial dynasty of China that ruled from 1368 to 1644, following the collapse of the Mongol Empire, Mongol-led Yuan dynasty. The Ming was the last imperial dynasty of China ruled by the Han people, the majority ethnic group in China. Although the primary capital of Beijing fell in 1644 to a rebellion led by Li Zicheng (who established the short-lived Shun dynasty), numerous rump state, rump regimes ruled by remnants of the House of Zhu, Ming imperial family, collectively called the Southern Ming, survived until 1662. The Ming dynasty's founder, the Hongwu Emperor (1368–1398), attempted to create a society of self-sufficient rural communities ordered in a rigid, immobile system that would guarantee and support a permanent class of soldiers for his dynasty: the empire's standing army exceeded one million troops and the naval history of China, navy's dockyards in Nanjing were the largest in the world. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Song Dynasty
The Song dynasty ( ) was an Dynasties of China, imperial dynasty of China that ruled from 960 to 1279. The dynasty was founded by Emperor Taizu of Song, who usurped the throne of the Later Zhou dynasty and went on to conquer the rest of the Five Dynasties and Ten Kingdoms period#Ten Kingdoms, Ten Kingdoms, ending the Five Dynasties and Ten Kingdoms period. The Song frequently came into conflict with the contemporaneous Liao dynasty, Liao, Western Xia and Jin dynasty (1115–1234), Jin dynasties in northern China. After retreating to southern China following attacks by the Jin dynasty, the Song was eventually conquered by the Mongol-led Yuan dynasty. The History of the Song dynasty, dynasty's history is divided into two periods: during the Northern Song (; 960–1127), the capital was in the northern city of Bianjing (now Kaifeng) and the dynasty controlled most of what is now East China. The #Southern Song, 1127–1279, Southern Song (; 1127–1279) comprise the period following ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tang Dynasty
The Tang dynasty (, ; zh, c=唐朝), or the Tang Empire, was an Dynasties of China, imperial dynasty of China that ruled from 618 to 907, with an Wu Zhou, interregnum between 690 and 705. It was preceded by the Sui dynasty and followed by the Five Dynasties and Ten Kingdoms period. Historians generally regard the Tang as a high point in Chinese civilisation, and a Golden age (metaphor), golden age of cosmopolitan culture. Tang territory, acquired through the military campaigns of its early rulers, rivalled that of the Han dynasty. The House of Li, Li family founded the dynasty after taking advantage of a period of Sui decline and precipitating their final collapse, in turn inaugurating a period of progress and stability in the first half of the dynasty's rule. The dynasty was formally interrupted during 690–705 when Empress Wu Zetian seized the throne, proclaiming the Wu Zhou dynasty and becoming the only legitimate Chinese empress regnant. The An Lushan rebellion (755 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan Dynasty
The Yuan dynasty ( ; zh, c=元朝, p=Yuáncháo), officially the Great Yuan (; Mongolian language, Mongolian: , , literally 'Great Yuan State'), was a Mongol-led imperial dynasty of China and a successor state to the Mongol Empire after Division of the Mongol Empire, its division. It was established by Kublai (Emperor Shizu or Setsen Khan), the fifth khagan-emperor of the Mongol Empire from the Borjigin clan, and lasted from 1271 to 1368. In Chinese history, the Yuan dynasty followed the Song dynasty and preceded the Ming dynasty. Although Genghis Khan's enthronement as Khagan in 1206 was described in Chinese language, Chinese as the Han Chinese, Han-style title of Emperor of China, Emperor and the Mongol Empire had ruled territories including modern-day northern China for decades, it was not until 1271 that Kublai Khan officially proclaimed the dynasty in the traditional Han style, and the conquest was not complete until 1279 when the Southern Song dynasty was defeated in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Currency
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of economics that studies the behavior of individuals and Theory of the firm, firms in making decisions regarding the allocation of scarcity, scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the economy as a whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce Economic efficiency, efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the total of economic activity, dealing with the issues of Economic growth, growth, inflation, and unemployment—and with national policies relati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Fisher Effect
The international Fisher effect (sometimes referred to as Fisher's open hypothesis) is a hypothesis in international finance that suggests differences in nominal interest rates reflect expected changes in the spot exchange rate between countries. The hypothesis specifically states that a spot exchange rate is expected to change equally in the opposite direction of the interest rate differential; thus, the currency of the country with the higher nominal interest rate is expected to depreciate against the currency of the country with the lower nominal interest rate, as higher nominal interest rates reflect an expectation of inflation. Derivation of the International Fisher effect The International Fisher effect is an extension of the Fisher effect hypothesized by American economist Irving Fisher. The Fisher effect states that a change in a country's expected inflation rate will result in a proportionate change in the country's interest rate :(1+i) = (1+r) \times (1+E pi where :i is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
