Trading in Foreign Exchange Markets: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, Second Session ... December 20, 1978U.S. Government Printing Office, 1979 - 180 pages |
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Common terms and phrases
1978 Legend PARITY 1978 PARITY CHART ACTUAL 1978 Parlty Aliber ARONSON Aryeh Blumberg balance of payments believe billion Blumberg before United Canadian dollar capital at risk CARLI central banks CHAIRMAN Change from Smithsonian Committee on Banking corporations countries December 20 econometric-oriented economic effect Eurocurrency Eurodollar market evaluation exchange rate forecasting exchange rate policies Federal Reserve forecasts of exchange foreign exchange markets foreign exchange rate foreign exchange transactions Forex Research forward rate French franc Fund future spot German Mark interest rates Japanese Yen Legend PARITY ACTUAL monetary base Montclair NJ Multinational Computer Models Nov 1978 Legend PARITY ACTUAL 1978 Parlty Charte produced percent point estimates positions predicting produced by Multinational profit regulation return on capital Sell Senate Committee speculative return spot exchange rates spot rate stability Statement by Aryeh Swiss franc Total trade U.S. banks U.S. dollar United States Senate Urban Affairs volatility
Popular passages
Page 12 - ... avoid manipulating exchange rates or the international monetary system in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage over other members ; and iv) follow exchange policies compatible with the undertakings under this Section.
Page 137 - ... to collaborate with the Fund and other members to assure orderly exchange arrangements and to promote a stable system of exchange rates.
Page 38 - The views expressed in this statement are the sole responsibility of the author and do not purport to represent those of the Brookings Institution, its officers, trustees, or other staff members.
Page 137 - The Fund shall oversee the international monetary • system in order to ensure its effective operation, and shall oversee the compliance of each member with its obligations under Section I of this Article. (b) In order to. fulfill its functions under (a} above, the Fund, shall exercise firm surveillance over the exchange rate policies of members...
Page 138 - C. Members should take into account in their intervention policies the interests of other members, including those of the countries in whose currencies they intervene.
Page 138 - Article", and under article (b) to "exercise firm surveillance over the exchange rate policies of members, and to adopt specific principles for the guidance of all members with respect to those policies.
Page 137 - Two refer to the member's economic and financial policies; (l) to endeavor to direct its economic and financial policies toward the objective of fostering orderly economic growth with reasonable price stability; and (2) to seek to promote stability by fostering orderly underlying economic and financial conditions and a monetary system that does not tend to produce erratic conditions.
Page 61 - The Process of Exchange Rate Determination: A Survey of Important Models and Major Issues," Federal Reserve Board, International Finance Discussion Papers, No.
Page 138 - ... the pursuit, for balance of payments purposes, of monetary and other domestic financial policies that provide abnormal encouragement or discouragement to capital flows; and (v) behavior of the exchange rate that appears to be unrelated to underlying economic and financial conditions including factors affecting competitiveness and long-term capital movements.
Page 139 - This appraisal shall be made within the framework of a comprehensive analysis of the general economic situation and economic policy strategy of the member, and shall recognize that domestic as well as external policies can contribute to timely adjustment of the balance of payments.