| 词汇 | example_english_exchange-rate |
| 释义 | Examples of exchange rateThese examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. These actors therefore prefer a low degree of exchangerate flexibility. Thus, in this case, the exchangerate must move by more in the short run in order to restore money market equilibrium. The fundamental exchangerate in each country is taken as exogenous and different. Investors can hold one of two views as to the evolution of the exchangerate. The variable is the rate at which individuals following the fundamentalist rule believe the exchangerate will return to its true value. Such shocks create very little conflict, as both central banks want to depreciate the real exchangerate. To break the dollar's fall, the government decide to fix the exchangerate. In trade, the uncertainty created by high domestic inflation is compounded by the destabilising effect on the real exchangerate. The necessary exchangerate changes could be achieved moreflexiblyand quietly through the market outside the system than in an enlarged snake. In general, all the results show that the terms of trade and the exchangerate variables have significant coefficients with expected signs. The balance establishes the approximate location of the exchangerate within the available submaximal range. We tried to compare different exchangerate regimes and to develop welfare evaluations. The exchangerate shocks only account for about 5% of the volatilities of inflation. Knowing how macroeconomic shocks affect the risk premia, therefore, may be critical for understanding the dynamics of exchangerate movements. In other words, the exchangerate of large coins in terms of small coins increased. Competitive de-regulation has characterised air transport, capital movement, tariffs, technical barriers to trade, exchangerate controls, and telecommunications. It is only possible to conclude that there is some relationship between the exchangerate and its fundamentals, but it is not stable over time. Often the real exchangerate for the two countries must adjust in different directions to accommodate such asymmetric shocks. However, it is difficult to control the exchangerate in an economy with a floating regime. Consequently, the real exchangerate between these two economies must adjust in response to such shocks. Increasing competitiveness has led to the appreciation of the effective exchangerate. Measuring meaningfully the real exchangerate and the fundamental equilibrium exchangerate is always a difficult task. Although the discussion in this section focuses primarily on exchangerate policy, in practice, monetary and rate exchange policy are indelibly linked. Thus, the more open the economy is, the less purchase on the real exchangerate an independent monetary policy has. This dampens the impact effect on the exchangerate. The cyclical pattern of the coefficient estimates mirrors the cyclical pattern of the exchangerate. Therefore, the experimental conditions determine whether the observed exchangerate reports on the kinetics or on the thermodynamics of the opening reaction. I wanted government policy to ensure that sterling maintained confidence in the market without support conscripted under an exchangerate mechanism. Knowing how monetary policy shocks affect risk premia, therefore, may be critical for understanding the dynamics of exchangerate movements under such shocks. Both domestic and foreign firms must set prices at the beginning of each period, before the realization of the production shock and the exchangerate. At that time, its exchangerate was not so overvalued and fiscal policy was far more prudent than in 1997 and 1998. A hard exchangerate is one way of damping inflationary pressures. This placed strains on the new fixed exchangerate system. The overvalued exchangerate that encouraged food imports was only corrected in 1994. And this exchangerate stability encouraged unprecedented levels of foreign investment. The advantage of a flexible exchangerate is lost if economic policy is aimed at minimising exchangerate volatility. If the exchangerate is fixed, economic activity contracts to permit the adjustment in imports. However, while the pass-through is high, complying with this objective implies achieving a stable exchangerate. Firstly, during the 1990s, how did interest rate liberalisation affect the behaviour of the exchangerate market? Both series trend downward but there are similar cyclical movements, indicating that the real exchangerate adjusts to nonenergy commodity price movements. The hardships of the early 1990s with the pegged exchangerate were still clearly in people's memory, and nobody wanted to see them again. Given a fixed exchangerate (the case of a monetary union), this option would no longer exist. With some form of credibly fixed exchangerate, there is almost no scope for active monetary policy - monetary independence is essentially surrendered. Here, the fear-of-floating hypothesis says a pegging strategy is sought because of safe haven fears or the country's historical fears of an appreciating exchangerate. In a world where wages are perfectly flexible the exchangerate does not matter and the case for a world currency is almost unimpeachable. That was a pre-announced crawling peg, so analytically the new regime was equivalent to the fixed exchangerate. The peso exchangerate was far more volatile than gold in the international economy. These sectors therefore prefer a high exchangerate. The government was unable to defend the new peg and was forced to move within days to a flexible exchangerate system. And everything was linked to the exchangerate. Note that this economy is also characterized by the indeterminacy of the equilibrium exchangerate. Because of the feedback on the exchangerate process, this ultimately induces a long-run equilibrium appreciation of the real exchangerate. By including the macro-hysteretic relationship into a macroeconomic overshooting model, the effect of temporary fluctuations on the long-run equilibrium exchangerate can be derived. We examine optimal policy in an open-economy model with uncertainty and learning, where monetary policy actions affect the economy through the real exchangerate channel. Inflation, output and the real exchangerate are observed (subject to measurement error) at the end of the period. With the values (0, 1) the opposite is true and real exchangerate depreciations stimulate aggregate demand while having no supply-side effects. To this end, we choose parameter values that emphasize the real exchangerate channel and its time variation. Thus, for exchangerate alterations, the exporting firms have to bear revenue changes in their own currency. Although in the short run a real depreciation takes place, the real exchangerate appreciates in the long run. Thus, the nominal exchangerate is determined by the price level. The government in our model is alert to model misspecification, but when the time comes to formulate an exchangerate policy, it ignores model uncertainty. As a result, exchangerate changes trigger the financial accelerator. The evidence suggests that there would be no significant impact on either the level or volatility of the exchangerate. As argued earlier, the obvious variable in the present context that could produce such a result is the exchangerate. Cointegration tests suggest the lack of a common trend between exchangerate and real activity. One of the main implications of incomplete passthrough is that the nominal exchangerate overshoots its long-run equilibrium value in response to the monetary slowdown. The prices set by these firms are thus able to respond fully to the change in the exchangerate. The increased management of the economy can be illustrated by looking at exchangerate policy. Furthermore, despite competitive devaluations abroad, breaking the exchangerate constraint on monetary policy allowed lower interest rates throughout the period. The devaluation of the exchangerate also allowed the government to pursue a more expansionist ('cheap money') monetary policy. The last term is the expected change in the value of the firm in response to future changes in the real exchangerate. Banks were prohibited from transferring domestic dollar deposits outside the country at the preferential exchangerate. In the meantime, official statistics underwent international aggregation and adjustments to correct for inflation, exchangerate and internal fluctuations. As a reference point, the average exchangerate for one euro was 8.81 in 1999. As in many models of this type, the speculators in both countries have different possible rules for forecasting the exchangerate. The results uncover the time-varying relationship and attribute it to the relationship between the fundamentals and the exchangerate. In this paper we consider the relationship between the nominal exchangerate and lagged fundamentals. Dollar-denominated debt is calculated form the officially reported peso debt and the official exchangerate. These countries are not as economically integrated as is popularly believed, thus exchangerate fluctuations do not generate large costs. This paper revisits the problem of comparing the monetary model of nominal exchangerate determination with the random walk in the presence of parameter instability. The main difference is that our central bank cares about the nominal exchangerate rather than the inflation rate. But the opening of capital markets in the late 1950s eventually placed strains on both the exchangerate system and monetary independence. The exchangerate regime plays a prominent role in this adjustment. These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. |
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