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Topic: Devaluation


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In the News (Sun 16 Jun 19)

  
  Devaluation - Wikipedia, the free encyclopedia
Devaluation is a reduction in the value of a currency.
Devaluation is most often used in situations where a currency has a defined value relative to the baseline.
However, that a devaluation would reduce trade deficits depends on fulfilling the Marshall-Lerner Condition: the sum of exports and imports elasticities (in absolute value) must be greater than 1.
en.wikipedia.org /wiki/Devaluation   (815 words)

  
 The Daily Star Web Edition Vol. 5 Num 613   (Site not responding. Last check: 2007-10-21)
Fifth: Devaluation requires a leap of faith by the national leadership because while the injurious effects are guaranteed to be immediate, the beneficial effects will take some time to take affect and are always viewed with skepticism since success stories based on IMF devaluation prescription are hard to come by.
A government may have fallen just before devaluation as a result of economic mismanagement or for other reasons, leaving the successor the opportunity to blame the necessity for devaluation on the fallen government or a government may have delayed the devaluation to a time which is thought politically safe.
Most importantly, devaluation is often a necessary consequence of economic mismanagement, rather than the devaluation that should be, and often is, the target of political criticism.
www.thedailystar.net /2006/02/18/d60218150399.htm   (2167 words)

  
 XXXI. CURRENCY AND CREDIT MANIPULATION: The Objectives of Currency Devaluation   (Site not responding. Last check: 2007-10-21)
While governments were still anxious to emphasize that devaluation was an emergency measure not to be repeated again, these authors proclaimed the flexible standard as the most appropriate monetary system and were eager to demonstrate the alleged evils inherent in stability of foreign exchange rates.
If one looks at devaluation not with the eyes of an apologist of government and union policies, but with the eyes of an economist, one must first of all stress the point that all its alleged blessings are temporary only.
Devaluation was a cunning device to elude the sway of the union doctrine.
www.mises.org /humanaction/chap31sec4.asp   (2005 words)

  
 Currency Devaluation and Revaluation - Fedpoints - Federal Reserve Bank of New York
Devaluation, the deliberate downward adjustment in the official exchange rate, reduces the currency's value; in contrast, a revaluation is an upward change in the currency's value.
To devalue, it might announce that from now on 20 of its currency units will be equal to one dollar.
To the extent that devaluation is viewed as a sign of economic weakness, the creditworthiness of the nation may be jeopardized.
www.newyorkfed.org /aboutthefed/fedpoint/fed38.html   (969 words)

  
 devaluation. The Columbia Encyclopedia, Sixth Edition. 2001-05
Although devaluation occurs in terms of all other currencies, it is best illustrated in the case of only one other currency.
Whereas previously one dollar may have been worth about 5.5 francs, a 10% devaluation causes it to be worth only about 5 francs.
The net result of such a devaluation is that U.S. exports tend to increase and imports tend to decrease, thus helping to reverse the balance of payments deficit.
www.bartleby.com /65/de/devaluat.html   (241 words)

  
 Currency devaluation - Hutchinson encyclopedia article about Currency devaluation
The increased cost of imported food, raw materials, and manufactured goods as a consequence of devaluation may, however, stimulate an acceleration in inflation, especially when commodities are rising in price because of increased world demand.
Significant devaluations include that of the German mark in the 1920s and Britain's devaluation of sterling in the 1960s.
To promote greater stability, many countries have allowed the value of their currencies to ‘float’, that is, to fluctuate in value (see exchange rate).
encyclopedia.farlex.com /Currency+devaluation   (211 words)

  
 Educational devaluation - Wikipedia, the free encyclopedia
Educational devaluation is the process whereby educational degrees, for sociological and occupational purposes, become less valuable over time.
In the United States, most educational degrees are considered to have devalued by about four years since the turn of the 20th century.
For example, a high school degree once sufficed for entrance into a middle class occupational field; now a college degree is practically required.
en.wikipedia.org /wiki/Educational_devaluation   (108 words)

  
 Borderline Personality - Devaluation - The Slippery Slope
One very central way to change this cycle of being triggered and then sliding (often subsconsiously) into cognitive distortions which that can lead to acting out and over-all child-like behaviour, demanding, push/pull, self-harm, feelings of rejection or abandonment to name just a few is to learn how to recognize and stop borderline devalution.
In the act of devaluing borderline's often misinterpret reality as if events that have occurred are a conspiracy against them or are happening just to them and being done by others on purpose.
If you get into devaluation it will begin with the thought that your friend is not being honest with you.
www.suite101.com /article.cfm/3661/59524   (586 words)

  
 Under Attack: Devaluation and the Challenge of Tolerating the Transference -- Robbins 9 (3): 136 -- Journal of ...
The devaluations gradually decreased in intensity, although it was still often necessary for me to interpret or confront his devaluations on the spot when they occurred.
Finally, the devaluations were brought under control and he could express his disappointment that at times I did not fully understand his inner workings, rather than attack me for my imperfect formulations.
I, in turn, was learning that my most essential task, addressing his devaluations and their meaning from a neutral position, required the management of my own vulnerable feelings when attacked and bruised.
jppr.psychiatryonline.org /cgi/content/full/9/3/136   (3939 words)

  
 MSN Encarta - Search Results - Devaluation
Devaluation, in economics, official act reducing the exchange rate at which one currency is exchanged for another in international currency markets....
This report on the devaluation of sterling appeared in The Times on November 20, 1967.
The devaluation of the world of men is in direct proportion to the increasing value of the world of things.
uk.encarta.msn.com /Devaluation.html   (110 words)

  
 FRBSF: Economic Letter - Contractionary Effects of Devaluation (11/13/98)
Alternatively, when a devaluation is accompanied by a rise in the domestic price level, as is often the case, it erodes the purchasing power of money, which through a so-called "real-balance effect" leads to a decline in aggregate demand.
That is, to offset the potential for capital loss from an exchange rate devaluation, holders of baht, rupiah, and won were demanding a risk premium in the form of higher interest rates.
First, to avoid the negative impulse associated with currency devaluations, it is essential that governments either credibly commit not to bail out their banking systems or, more realistically, that they vigilantly monitor their activities.
www.frbsf.org /econrsrch/wklyltr/wklyltr98/el98-34.html   (1789 words)

  
 Devaluation
The process of social devaluation is a reality and influences the life chances of people-at-risk in a seriously negative manner.
Devaluation is a universal process, but there are differences between societies in what they value
Things that are valued in one culture may be devalued in others.
www.diligio.com /devaluation.htm   (406 words)

  
 Devaluation is Not the Answer by Andrew West -- Capitalism Magazine   (Site not responding. Last check: 2007-10-21)
An increasing number of economists and journalists are making comments approving currency devaluation as a way to boost economies and "gain competitiveness." Some analysts, like The New York Times' Paul Krugman, have been recommending devaluation around the world for years, and it seems that an increasing number are jumping on his bandwagon.
Now, policymakers may be starting to accept devaluation as an economically good thing, posing a potential risk to investors and the world economy.
Government officials initially heralded the devaluation as a positive move and the IMF stupidly reinforced the thinking.
www.capmag.com /article.asp?ID=463   (725 words)

  
 The Effects of a Renminbi Devaluation on ASEAN Economies: An Applied General Equilibrium Approach, by Robert R. Teh Jr.
To the extent that a devaluation of the renminbi serves as a proxy for the trade rivalry between ASEAN and China, the outcome of the simulation should provide some answers to the state of the economic relationship between them.
To the extent that a renminbi devaluation is seen as a commercial response to deteriorating export performance, then the framework of the analysis conducted here is probably appropriate for the purpose on hand.
As part of a larger package of reform measures, a renminbi devaluation could re-energise foreign investor interest in China and produce dramatic increases in economic efficiency and long-term export competitiveness that we would be unable to capture in the simulations conducted with the GTAP model.
www.aseansec.org /2826.htm   (5267 words)

  
 Côte d'Ivoire: Devaluation's Benefits
Pending a devaluation (which would require caution and time for preparation), the Bank decided against issuing loans to Côte d’Ivoire exclusively on IBRD terms, given that loans would have to be repaid from government revenues.
Two sets of three adjustment loans were approved between 1988 and 1993 to lay the groundwork for devaluation by (1) launching reforms that would contribute to the success of the devaluation and (2) providing prompt financial support for the post-devaluation period.
The devaluation removed a major constraint to policy dialogue, which subsequently gained prominence in the relationship between the government and the Bank.
wbln0018.worldbank.org /oed/oeddoclib.nsf/d6e15766d406a12d85256808006a000c/c2b8012214d45fef852567f5005d9070?OpenDocument   (2219 words)

  
 Jamaat-e-Islami Pakistan: Rupee Devaluation   (Site not responding. Last check: 2007-10-21)
The State Bank of Pakistan, under the auspices of the Finance Ministry, devalued the rupee by 8.71 percent on October 15.
They apprehend that devaluation was a confession of failure.
After the last two devaluations there was no positive impact on the exports which continued to be in the vicinity of $ 8 billion.
www.jamaat.org /comments/devaluation.html   (661 words)

  
 Hutton article
Reactive devaluation happens when people try to create a mutually beneficial deal but find reasons to devalue the other party's offer once the negotiation begins.
Reactive devaluation theory helps explain why once parties are in a negotiation or conflict offers are devalued.
Artificial barriers like reactive devaluation prevent parties from reaching a settlement where all potential gains are realized.
www.convenor.com /madison/hutton.htm   (1412 words)

  
 Devaluation
The first attempt to deal with this situation was by designating the older currencies as Old Tenor and allowing them to circulate at the lower rate, then setting a new rate (from 6s to 8s per Spanish dollar) for new issues, which were designated as New Tenor currencies.
South Carolina never was able to take control of its currency and devaluation continued through the remainder of the colonial period.
Devaluation was also problematic during the Revolutionary War, especially from 1779.
www.coins.nd.edu /ColCurrency/CurrencyIntros/IntroDevaluation.html   (813 words)

  
 World Bank - Documents & Reports - Devaluation in low-inflation economies - Policy Research Working Paper
In the current period of devaluation pessimism, devaluation is often seen as an instrument to accommodate inflation instead of one to change the real exchange rate and support external balance.
The authors find that devaluation is more effective in low-inflation economies where devaluation is a sporadic event - typically, effecting a real depreciation twice as large as that in inflationary economies.
In countries with low inflation that have not devalued for three years, a maxi-devaluation is not likely to move the economy into high inflation.
www-wds.worldbank.org /servlet/WDS_IBank_Servlet?pcont=details&eid=000009265_3961005164301   (473 words)

  
 afrol News - Botswana devaluation questioned
Suspicions that government was devaluing to cover an impending budget deficit caused by a salary increment seems to be gaining legitimacy.
This time around, the reasons advanced for the devaluation are taken with a pinch of salt - justifiably or unjustifiably.
Just like the previous devaluation, it is the ordinary man at the tail end of the economy who is bound to endure the suffering.
www.afrol.com /articles/16481   (586 words)

  
 Financial Sense University ~ The Argentine Currency Devaluation 03/04/2003   (Site not responding. Last check: 2007-10-21)
The “Post-effect” devaluation has resulted in Argentina having approximately 9 different currencies, which includes different types of local Provincial Bonds, that can be used to purchase goods and as a currency for other transactions.
Since the devaluation, many Banks have been robbed and looted; their structures defaced when the populace was not permitted to withdraw their funds.
Naturally, the events here were caused by the complete structural decay of the “Democratic System.” Yet, by the same token, it is interesting to note that in 2002, the local stock market continued to climb and during the year, increased in pesos by 65%.
www.financialsense.com /fsu/editorials/2003/0304.htm   (1106 words)

  
 Latest News - Republic of Botswana   (Site not responding. Last check: 2007-10-21)
This devaluation is a slap on the face of the Bank of Botswana inflation control efforts and BOCCIM wonders whether interest rates will come down since this devaluation is most likely going to trigger inflation.
The devaluation, according to BOCCIM, is an indication that there are weaknesses in the economic structure, which should be addressed.
It said that the worst casualties of the devaluation will be those at the lower end of the economic ladder and those with a fixed income, who will lose their purchasing power by 12 per cent.
www.gov.bw /cgi-bin/news.cgi?d=20050602&i=BOCCIM_protests_Pula_devaluation   (490 words)

  
 The Impact Of Dollar Devaluation On The World Oil Industry: Do Exchange Rates Matter?
Theoretically, dollar devaluation reduces drilling activities in areas where most of the costs are denominated in non-dollar appreciating currencies such as the North Sea.
Dollar devaluation makes oil relatively cheap in countries with non-dollar appreciating currencies such as the euro and yen (see Figures 1, 2 and 3).
Dollar devaluation increases oil demand in countries with appreciated currencies because of an increase in purchasing power.
www.mees.com /postedarticles/oped/a47n33d01.htm   (2234 words)

  
 Mmegi Online ::> news we need to know
BIDPA said that Botswana’s textile industry is “generally competitive”; as such the devaluation is expected to improve the country’s competitiveness in all major markets.
In an effort to arrest the soaring inflation brought about by the devaluation of the Pula, the Bank of Botswana increased the bank rate by 25 points from 14.00 to 14.25 and 14.50.
The Pula was devalued by 12 percent early this year partly to improve the competitiveness of Botswana’s goods on the international market.
www.mmegi.bw /2005/December/Wednesday14/23361241544.html   (652 words)

  
 CNN.com - Argentina braces for devaluation - Dec. 26, 2001
Finance Secretary Rodolfo Frigeri said he was printing a third currency, to be used to pay state salaries, that would be allowed to depreciate against the dollar, perhaps eventually replacing the peso.
But as worry grew that the government could be overtaken by events, store owners fearing devaluation raised prices or canceled the huge discounts with which they had tried to drum up business.
The recession has dragged on for four years and was the backdrop to violence last week prompted by government belt-tightening measures.
edition.cnn.com /2001/BUSINESS/12/26/argentina.re   (816 words)

  
 Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business.
Since the devaluation of the yuan in 1994, the average annual rate of growth of US exports to China has been 14%.
This rebalancing could trigger the devaluation of the dollar against the euro and the yen, currencies which the People's Bank of China would be selling its dollar reserves for.
By begging Beijing for a dollar devaluation, Washington is inadvertently laying the groundwork for a much larger devaluation of the dollar, higher inflation, higher interest rates, and slower economic growth in the US.
atimes.com /atimes/China/GE13Ad02.html   (1485 words)

  
 idealisation/devaluation
I also think the devaluation occurs in part because they need to blame someone else when things don't go according to their fantasy.
The overvaluation and the devaluation, the most salient, and shocking, aspect of NPD, together with the inability of people with NPD to sustain anything in their lives, be it relationships, work and business relationships, even hobbies and interests.
That overvaluation stage went on for a long time; she went into devaluation again only when I started to catch on to a lot of her attention seeking behavior and started acting in a way that went counter to her idea of "supportive" (i.e.
www.suite101.com /discussion.cfm/npd/57490/latest/9   (1336 words)

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