scholarly journals Assessing the Effectiveness of the Central Bank of Iraq in Managing Foreign Reserves (2005-2017)

2019 ◽  
Vol 5 (1) ◽  
pp. 119
Author(s):  
Muhsin Ibrahim Ahmad
Keyword(s):  
Central Bank ◽  
International Standards ◽  
General Level ◽  
Foreign Reserves ◽  
Local Currency ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
The Face ◽  
The Stability ◽  
Internal And External Stability

The management of foreign reserves is an important issue because achieving an appropriate and secure level of these reserves contributes to maintaining internal and external stability by ensuring stability in the general level of prices and maintaining the value of the local currency to prevent the flight of capital abroad. In addition to its role in the face of shocks and external crises. That is, the size of the safe reserves is considered the safety valve for the economy towards the internal and external crises that the economy can face.    The research proved the effectiveness of the Central Bank of Iraq in the management of foreign reserves for the period (2005-2017) by achieving two objectives at the same time, which is to maintain adequate and appropriate size of these reserves in accordance with international standards and indicators adopted on the one hand, in addition to maintaining the stability of the general level of prices and reducing inflation rates , Through the stability of the local currency exchange rate, which is one of the indicators of economic stability, on the other.

scholarly journals Assessing the Effectiveness of the Central Bank of Iraq in Managing Foreign Reserves (2005-2017)

2019 ◽  
Vol 5 (1) ◽  
pp. 119
Author(s):  
Muhsin Ibrahim Ahmad
Keyword(s):  
Central Bank ◽  
International Standards ◽  
General Level ◽  
Foreign Reserves ◽  
Local Currency ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
The Face ◽  
The Stability ◽  
Internal And External Stability

The management of foreign reserves is an important issue because achieving an appropriate and secure level of these reserves contributes to maintaining internal and external stability by ensuring stability in the general level of prices and maintaining the value of the local currency to prevent the flight of capital abroad. In addition to its role in the face of shocks and external crises. That is, the size of the safe reserves is considered the safety valve for the economy towards the internal and external crises that the economy can face.    The research proved the effectiveness of the Central Bank of Iraq in the management of foreign reserves for the period (2005-2017) by achieving two objectives at the same time, which is to maintain adequate and appropriate size of these reserves in accordance with international standards and indicators adopted on the one hand, in addition to maintaining the stability of the general level of prices and reducing inflation rates , Through the stability of the local currency exchange rate, which is one of the indicators of economic stability, on the other.

scholarly journals Managing the Bank’s Currency Risk in the Face of Turbulence in Global Financial Markets

2020 ◽  
Vol 11 (514) ◽  
pp. 288-295
Author(s):  
V. V. Lavreniuk ◽  
◽  
D. Y. Lukianchuk ◽  
Keyword(s):  
Stress Tests ◽  
Currency Risk ◽  
Risk Hedging ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
The Face ◽  
General Scientific ◽  
Effective Instrument ◽  
Main Determinants ◽  
Position Management

The article is aimed at researching the theoretical-methodological and practical aspects of the bank’s currency risk management. To solve the tasks set, the authors use general scientific and specific methods, in particular: logic-dialectical, mathematical and graphic. Based on generalization, analysis and comparison of different approaches, the methods and instruments for managing the bank’s currency risk are systematized. The bank’s currency risks are typed and the main determinants of their occurrence are identified. The types of currency risk hedging instruments are systematized and their contents are disclosed. The essence of the bank’s currency position, the methodology of its account are disclosed and the necessity of compliance with the methodology are substantiated. The main operations that influence the bank’s currency position are identified. An analytical assessment of the currency position of banks is performed (JSC CB «PrivatBank», JSC «Oschadbank», JSC «Raiffeisen Bank Aval», JSC «A-Bank»); the model of maximization of the bank’s profits is computed and appropriate conclusions about their activities are drawn. With the use of economic-mathematical instrumentarium the dynamics of the hryvnia currency exchange rate are forecasted and the indicators of VaR for banks (JSC CB «PrivatBank», JSC«Oschadbank», JSC «Raiffeisen Bank Aval», JSC «A-Bank») are calculated according to different time horizons. It is determined that the model of minimization of currency risk through currency position management serves as an effective instrument for analyzing and substantiating internal limits of currency risk and permissible ranges of changes in financial results of the bank’s activity. Prospects for further research are: 1) development of an instrumentarium for currency risk assessment based on ARCH and GARCH models of various modifications; 2) development of macro stress tests with a focus on currency risk and taking into account the systemic characteristic, which is the transmission of currency risk to other sectors of both the financial market and the economy.

The Foreign Currency Exchange Rate Policy Up Until 1986

2020 ◽  
pp. 209-229
Author(s):  
Einar Lie
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Foreign Currency ◽  
Exchange Rate Regime ◽  
Exchange Rate Policy ◽  
International Exchange ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
Rate Policy ◽  
The Government

This chapter studies how Norges Bank came to play a central, technical role in maintaining and defending a stable krone exchange rate during the years 1946–86. This role was reflected in how the bank advised on the basis of a loyal position to the fixed krone exchange rate regime and to binding international exchange rate cooperation. In 1978, Norway backed out of the European fixed exchange rate cooperation, and during 1976–86, the krone was devalued ten times. Even though Norges Bank officially came to contribute to both recommending and carrying out this policy, the policy defied the strong ideals and viewpoints of the organization. The exchange rate policy, and the problems it led to in relation to the central bank, caused the government, in the first half of the 1980s, to push Norges Bank completely aside when it came to the shaping of Norwegian exchange rate policy. Nevertheless, much of the policy was still shaped inside the walls of the institution.

scholarly journals Aspects of influence of monetary policy on dynamics of agro-industrial com-plex development

2020 ◽  
Vol 22 (96) ◽  
pp. 3-8
Author(s):  
P. M. Muzyka ◽  
B. B. Brychka ◽  
L. V. Honcharenko
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Agricultural Products ◽  
National Currency ◽  
Price Stability ◽  
Industrial Complex ◽  
Agricultural Enterprises ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
The Stability

The main approaches to the interpretation of the essence of monetary policy arepresented in the article, as well as the author’s definition are substantiated. The author highlights the main characteristics of monetary policy, in particular its target orientation, specific time horizon, the presence of a clear mechanism of monetary policy, as well as the coordinated and balanced using of a set of monetary instruments to achieve each goal. In addition, the components of the stability of the currency are substantiated, which includes price stability, stability of interest rates, as well as the stability of the national currency exchange rate. The influence of each of the components of the currency stability on the dynamics of agro-industrial complex development is substantiated. First of all, price stability ensures stable income from the sale of agro-industrial products in the domestic market. In this case, the dynamics of real earnings of agricultural enterprises will depend on changes in relative prices. Stability of interest rates is important in terms of incentives for agricultural enterprises to obtain additional credit resources. The impact of the stability of the national currency exchange rate on development of agro-industrial complex can be traced in two directions. First of all, agricultural enterprises are interested in stable exchnage rate of hryvnia due to the import of mineral fertilizers, seeds, feed additives, foreign equipment for the production and processing of agricultural products, agricultural machinery, etc. Devaluation of the hryvnia during the period of import purchases of necessary raw materials provokes a future increase in the cost of agricultural products. At the same time, agricultural enterprises are interested in a certain devaluation of the hryvnia, which will stimulate the export of agricultural products and ensure the stability of incomes in the national currency.

Non-observed Economy in the CIS Countries

2009 ◽  
pp. 86-95
Author(s):  
Yu. Ivanov
Keyword(s):  
International Standards ◽  
General Level ◽  
National Accounts ◽  
System Of National Accounts ◽  
The World ◽  
Cis Countries ◽  
Key Indicators

The article contains a review of underlying concepts and definitions of non-observed economy which are formulated in the international standards on this topic and used by the CIS countries for computation of GDP and other key indicators of the System of National Accounts. The article considers the methods used for measuring non-observed economy and some figures on the share of non-observed economy in GDP of the CIS countries and other selected countries of the world. Perfection of methods of measuring non-observed economy and raising reliability of its estimates requires improvement of general level of work on compilation of national accounts.

Em transe-to

2020 ◽  
Vol 2 (1) ◽  
pp. 32-55
Author(s):  
Natalia Christofoletti Barrenha
Keyword(s):  
The Face ◽  
The Stability ◽  
The City

This text seeks to explore the Argentine films Castro (Alejo Moguillansky, 2009) and El asaltante (Pablo Fendrik, 2007) from within the displacement of their characters through the city. This transit configures the organising element of the plots, determining the direction and rhythm of events. The escape motto will structure the film analyses, which are also twinned by the sensory apprehension that comes from the spaces they travel through. The notion of escape, as explored by Esteban Dipaola in Argentine cinema of the 1990s, continues to throb in mid-to-late 2000s production, and in these films represents the means by which the protagonists deploy critical attitudes—sometimes radical and explosive, sometimes silent—in the face of fixed notions, suggesting some scepticism about the “stability” and “order” that they (dis)encounter in normality. RESUMEN Este texto busca explorar los largometrajes argentinos Castro (Alejo Moguillansky, 2009) y El asaltante (Pablo Fendrik, 2007) a partir del desplazamiento de sus personajes por la ciudad. El transitar se configura como elemento organizador de las tramas, determinando la dirección y el ritmo de los acontecimientos. El tema de la fuga irá estructurando los análisis de las películas, las cuales también están relacionadas por la aprehensión sensorial que hacen de los espacios que recorren. La noción de fuga, tal y como fue explorada por Esteban Dipaola en el cine argentino de los años 90, continúa vigente en la producción de mediados/fines de la primera década del siglo XXI, y en estas películas es el recurso por medio del cual los protagonistas despliegan actitudes críticas – a veces radicales y explosivas, y a veces silenciosas – frente a nociones convencionales, lo cual hace pensar que existe un cierto escepticismo con relación a la “estabilidad” y al “orden” que ellos (des)encuentran en la normalidad. RESUMO Este texto busca explorar os longas-metragens argentinos Castro (Alejo Moguillansky, 2009) e El asaltante (Pablo Fendrik, 2007) a partir do deslocamento de seus personagens pela cidade. O transitar configura-se como elemento organizador das tramas, determinando a direção e o ritmo dos acontecimentos. O mote da fuga estruturará as análises dos filmes, os quais também se irmanam pela apreensão sensorial que fazem dos espaços que percorrem. A noção de fuga, conforme explorada por Esteban Dipaola no cinema argentino da década de 1990, continua a pulsar na produção de meados/fins dos anos 2000, e é, nestes filmes, o recurso através do qual os protagonistas desdobram atitudes críticas – às vezes radicais e explosivas, às vezes silenciosas – diante de noções fixas, sugerindo certo ceticismo em relação à “estabilidade” e à “ordem” que eles (des)encontram na normalidade.

Beyond Deep Learning: An Econometric Example

2020 ◽  
Vol 28 (Supp01) ◽  
pp. 31-38 ◽  
Author(s):  
Ruofan Liao ◽  
Paravee Maneejuk ◽  
Songsak Sriboonchitta
Keyword(s):  
Neural Networks ◽  
Deep Learning ◽  
Prediction Models ◽  
Original Data ◽  
Parametric Model ◽  
Parametric Models ◽  
The Past ◽  
Currency Exchange ◽  
Currency Exchange Rate ◽  
Linear And Nonlinear

In the past, in many areas, the best prediction models were linear and nonlinear parametric models. In the last decade, in many application areas, deep learning has shown to lead to more accurate predictions than the parametric models. Deep learning-based predictions are reasonably accurate, but not perfect. How can we achieve better accuracy? To achieve this objective, we propose to combine neural networks with parametric model: namely, to train neural networks not on the original data, but on the differences between the actual data and the predictions of the parametric model. On the example of predicting currency exchange rate, we show that this idea indeed leads to more accurate predictions.

scholarly journals Money Decentralization under Direct Democracy Procedures. The Case of Classical Athens

2021 ◽  
Vol 14 (1) ◽  
pp. 30
Author(s):  
Emmanouil-Marios L. Economou ◽  
Nicholas C. Kyriazis ◽  
Nikolaos A. Kyriazis
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Direct Democracy ◽  
Hellenistic Period ◽  
International Currency ◽  
Monetary System ◽  
Mediterranean World ◽  
The Stability ◽  
City State

By analyzing the case of Athens during the Classical period (508-323 BCE) the main thesis of this paper is that under direct democracy procedures and the related institutional setup, a monetary system without a Central Bank may function relatively well. We focus on the following issues: (i) Τhe procedures of currency issuing in the Athenian city-state, (ii) why the Athenian drachma become the leading international currency in the Mediterranean world (iii) how and towards which targets monetary policy without a Central Bank was possible (iv) defining the targets of monetary policy and the mechanisms for its implementation (v) the role of money in the economy (vi) the issue of deficit spending (vii) the reasons of the replacement of the Athenian drachma as a leading currency by others from the Hellenistic period onwards (viii) the correlation of our findings regarding the decentralized character of monetary policy in Classical Athens to today’s realities, such as the issue of cryptocurrencies. Our analysis shows that monetary policy without a Central Bank was possible, with its foremost aim being the stability of the currency (mainly, silver coins) in order to enhance trust in it and so, make it an international currency which could outcompete other currencies. Since there was no Central Bank like today, monetary policy decisions were taken by the popular assembly of citizens in combination with the market forces themselves.

scholarly journals Sex Differences in Spatial Activity and Anxiety Levels in the COVID-19 Pandemic from Evolutionary Perspective

2021 ◽  
Vol 13 (3) ◽  
pp. 1110
Author(s):  
Olga Semenova ◽  
Julia Apalkova ◽  
Marina Butovskaya
Keyword(s):  
Environmental Risks ◽  
Economic Losses ◽  
General Level ◽  
The Novel ◽  
Health Attitudes ◽  
Spatial Activity ◽  
Sexual Specialization ◽  
The Face ◽  
Novel Virus ◽  
Virus Spreading

Despite the enforced lockdown regime in late March 2020 in Russia, the phenomenon of the continued virus spreading highlighted the importance of studies investigating the range of biosocial attributes and spectrum of individual motivations underlying the permanent presence of the substantial level of spatial activity. For this matter, we conducted a set of surveys between March and June 2020 (N = 492). We found that an individual’s health attitude is the most consistent factor explaining mobility differences. However, our data suggested that wariness largely determines adequate health attitudes; hence, a higher level of wariness indirectly reduced individual mobility. Comparative analysis revealed the critical biosocial differences between the two sexes, potentially rooted in the human evolutionary past. Females were predisposed to express more wariness in the face of new environmental risks; therefore, they minimize their mobility and outdoor contacts. In contrast to them, the general level of spatial activity reported by males was significantly higher. Wariness in the males’ sample was less associated with the novel virus threat, but to a great extent, it was predicted by the potential economic losses variable. These findings correspond to the evolutionary predictions of sexual specialization and the division of family roles.

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