Inflation, Exchange Rates, and the World Economy. Lectures on International Monetary Economics.

1978 ◽  
Vol 88 (349) ◽  
pp. 163
Author(s):  
A. J. Brown ◽  
W. M. Corden
Keyword(s):  
Exchange Rates ◽  
World Economy ◽  
Monetary Economics ◽  
The World ◽  
International Monetary Economics

Conditional Currency Convertibility Based on Primary Commodities

2020 ◽  
pp. 61-84
Author(s):  
Jameel Ahmed ◽  
Patrick Collins ◽  
Ahamed Kameel Mydin Meera
Keyword(s):  
Exchange Rates ◽  
Financial Crises ◽  
World Economy ◽  
World Wide ◽  
National Currency ◽  
Market Forces ◽  
External Shocks ◽  
Mutual Exchange ◽  
Economic Instability ◽  
The World

Practical policies are urgently needed to enable countries to reduce their vulnerability to the damaging influence of the world-wide, debt-based money system, which is the underlying cause of economic instability and financial crises in the world economy. Due to its flexibility in response to market forces, the Grondona system of conditional currency convertibility based on primary commodities can be safely implemented independently by individual countries in terms of their national currency. This chapter introduces the Grondona system and describes simulations of how it might have operated over recent years in some countries, which show the stabilizing influence that it would have on the economy of implementing countries. It also explains how implementation by each of the D-8 countries would exert a stabilizing influence on their mutual exchange-rates, thereby facilitating their collective evolution into a currency “bloc”, and so strengthening them collectively against destabilization by external shocks.

The World Economy

2005 ◽  
Vol 192 ◽  
pp. 11-32
Keyword(s):  
North America ◽  
Exchange Rates ◽  
Current Account ◽  
Risk Premium ◽  
World Economy ◽  
Strong Growth ◽  
Current Account Deficits ◽  
The Us ◽  
The World ◽  
Major Shift

Growth in the world economy looks robust, with growth averaging over 4 per cent a year in the last 2 years and in the first two years of our forecast. Strong demand in North America is a major factor behind this growth, and it has been associated with increasing current account deficits for the US, as we can see in Chart 1. The emerging imbalances that this strong growth has produced present a major risk to the world economy as they may induce major realignments of exchange rates. We analyse the implications of a major shift in the risk premium on the dollar in Al-Eyd, Barrell and Pomerantz in this Review.

scholarly journals Macroeconomic analysis and forecasting of the impact of energy wars and geopolitics on currency rates and oil prices

2020 ◽  
pp. 7-20
Author(s):  
Alexander N. Bryntsev ◽  
Keyword(s):  
Exchange Rates ◽  
World Economy ◽  
Supply And Demand ◽  
Oil Prices ◽  
Close Correlation ◽  
Oil Market ◽  
Macroeconomic Analysis ◽  
Oil Markets ◽  
The World ◽  
The Impact

Subject/topic. In modern conditions, it is advisable to consider geopolitics through the prism of hybrid wars, when the theaters of war have moved from the ocean and land to the world financial and commodity markets. There is a close correlation be-tween changes in exchange rates and the price of oil on the results of energy wars. The aim of the article is to study the theoretical and empirical aspects of the impact of energy wars and geopolitics on the formation of oil prices and the dynamics of currency rates in modern conditions, as well as determining their vector of influence on the development of the world economy as a whole. Methodology of the article. To complete this article, a comparative and economic-statistical analysis was used. Results. The article shows that in the context of globalization of the world economy, there is a deep correlation between changes in currency rates and the price of oil and the consequences of energy wars, on the one hand, and on the other, currency rates and oil prices are the tools for geopolitics in achieving their goals. In addition, there is a fairly strong direct link between oil prices and exchange rates. Factors affecting the formation of the currency exchange and oil markets are sometimes artificial in nature by influencing appropriate macroeconomic conditions, for example, changing the balance of supply and demand. Findings. A macroeconomic analysis of the nature of the relationship between the dynamics of oil prices and currency fluctuations reveals the geopolitical interests of the main players in the oil market, indicating its redistribution. The stage of ousting Russia from the Chinese oil market with dumping prices began, not only with supplies from Saudi Arabia, but also with the active participation of the former partners of Iran and Venezuela, which themselves were under sanctions. The budget of these countries directly depends on oil imports. It is the force majeure circumstances that force them to abandon further partnership with Russia and become independent players in the Chinese hydrocarbon market.

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