International Finance

Balance of Payments ,[object Object],[object Object]

Balance of Payments ,[object Object]

Merchandise Trade Balance ,[object Object],[object Object],[object Object],[object Object]

Exhibit 1: Relative to GDP, U.S. Imports Have Topped Exports Since 1976, and the Trade Deficit Has Widened

Exhibit 2: U.S. Trade Deficits in 2003 by Country or Region

Balance on Goods and Services ,[object Object],[object Object]

Unilateral Transfers ,[object Object],[object Object]

Balance on Current Account ,[object Object],[object Object],[object Object]

Capital Account ,[object Object],[object Object],[object Object],[object Object]

U.S. Balance of Payments 2003 (billions of dollars)

U.S. Balance of Payments 2003 (billions of dollars) ,[object Object],[object Object]

U.S. Balance of Payments ,[object Object],[object Object],[object Object],[object Object]

Foreign Exchange and Exchange Rates ,[object Object],[object Object]

The Euro and Exchange Rates ,[object Object],[object Object]

Foreign Exchange ,[object Object],[object Object]

Demand for Foreign Exchange ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Demand for Foreign Exchange ,[object Object],[object Object]

Supply of Foreign Exchange ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Exhibit 4: The Foreign Exchange Market 1.10 0 D S Foreign exchange (millions of euros) 800 820 Exchange rate (dollars per euro) ,[object Object],[object Object],1.20 1.00

Exhibit 5: Effect on the Foreign Exchange Market of an Increased Demand for Euros 1.10 0 D S Foreign exchange (millions of euros) 800 $1.12 820 ,[object Object],[object Object],[object Object],Exchange rate (dollars per euro) D'

Arbitrageurs ,[object Object],[object Object],[object Object],[object Object],[object Object]

Speculators ,[object Object],[object Object],[object Object]

Purchasing Power Parity ,[object Object],[object Object],[object Object]

Purchasing Power Parity ,[object Object],[object Object]

Exhibit 6: In May 2004, the U.S. Price of a Big Mac Exceeded Prices in Most Other Countries

Flexible Exchange Rates ,[object Object]

Fixed Exchange Rates ,[object Object],[object Object]

Fixed Exchange Rates ,[object Object],[object Object],[object Object],[object Object]

Fixed Exchange Rates ,[object Object],[object Object],[object Object],[object Object],[object Object]

Development of the International Monetary System ,[object Object],[object Object]

Bretton Woods Agreement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Demise of the Bretton Woods System ,[object Object],[object Object],[object Object]

Demise of the Bretton Woods System ,[object Object],[object Object]

Current System: Managed Float ,[object Object],[object Object]

Managed Float ,[object Object],[object Object],[object Object],[object Object],[object Object]

International Finance

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to International Finance

Similar to International Finance (20)

More from mandalina landy

More from mandalina landy (20)

Recently uploaded

Recently uploaded (20)

International Finance