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Under the Bretton Woods system
Before Bretton woods system, gold standard was followed where countries peg there currencies with gold. The trade was based on gold reserves. But Bretton Woods system after 1945 started where countries pegged there currencies with US dollar and not gold. With trade balances grows larger and larger deficit, the liabilities on US gold reserves outpace US assets, thereby US closing Gold window in 1971
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- U S foreign exchange intervention is sometimes done by an Excha U.S. foreign exchange intervention is sometimes done by an Exchange Stabilization Fund, or ESF (a branch of the Treasury Department), which manages a portfolio of U.S. government and foreign currency bonds. An ESF intervention to support the yen, for example, would take the form of a portfolio shift out of dollar and into yen assets. Show that ESF interventions are automatically sterilized and thus do not alter money supplies. How do ESF operations affect the foreign exchange risk premium? U S foreign exchange intervention is sometimes done by an ExchaChoose the correct answer and give correct explaination 1. A central bank can fix an exchange rateA. In perpetuityB. Only for as long as the market believes that it has the political will to do so.C. Only for as long as it has reserves of goldD. Only for as long as it has independence of monetary policy.If the Fed started printing large quantities ofU.S. dollars, what would happen to the numberof Japanese yen a dollar could buy? Why
- Consider a two country model with Gold Exchange Standard. In that model if the Canadian dollar isdevalued then the price of gold will . The U.S. central bank would then have to gold.A) fall; buyB) fall; sellC) increase; sellD) increase; buyIf the European Central Bank decides to pursue a contractionary monetary policy to fight inflation, what willhappen to the value of the U.S. dollar?The reason the country of Ecuador has adopted the use of the US dollar for transactions within the country is a. to be able to lower taxes b. to increase government revenues c. to credibly commit to minimize inflationary pressures in the country d. to be able to effectively implement monetary policy
- 1. One potential drawback of the gold standard is thatA. the world economy can be subject to deflationary pressure due to the limited supply of monetary gold.B. the world economy can be subject to inflationary pressure without changes in the supply of monetary gold.C. gold is scarce.D. all of the above Give typing answer with explanation and conclusionWhat do we mean by a weak or strong dollar and what part does it play in the operation of North Pole Toys?Give typing answer with explanation and conclusion Consider country A, which uses a fixed exchange rate system pegging its currency value against the US dollars and has perfect capital mobility. In the short run, if the U.S. central bank, the Federal Reserve Board of the U.S., lowers the money supply of the U.S., then Select one: a. The Reserve Bank of Country A would have to lower its money supply. b. The Reserve Bank of Country A would have to raise its money?
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