AEM_ECON_2300_Lecture_21___Spring_2009

AEM_ECON_2300_Lecture_21___Spring_2009 - AEMECON 2300...

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AEM-ECON 2300  LECTURE 21 1.New York Times article on Environmental Kuznets Curve;  recommend you read the original article www.nytimes.com/2009/04/21/science/earth/21tier.html? 1.Fundamental and Technical Analysis of foreign exchange  rates 3.  European monetary system and the Euro
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“Use Energy, Get Rich and Save the Planet”, John Tierney, New York Times, April 21, 2009 “In dozens of studies researchers identified Kuznets curves for a variety of environmental problems. There are exceptions to this trend…” -- yes, indeed. “As their wealth grows, people consume more energy, but they move to more efficient and cleaner sources” … the U.S. and other Western countries seem to be near the top of a Kuznets curve for carbon emissions and ready to start the happy downward slope.” but how long will it take?! IPCC (2007) projects global warming of 1° - 4° C by 2100. “… a country’s turning point might come when a country’s per capita income reaches $30,000.” — !!!!!!!!!!!!! “Deforestation follows a Kuznets curve, too”. not. “…a Kuznets curve is more reliable than a revolution” — I don’t think so!
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Fundamental Analysis of Foreign Exchange  Rates  Bases estimates of future exchange rate values on  econometric analysis of “fundamental” market forces —  macroeconomic, asset values, political factors • the  rate of interest  in the local economy relative to  other economies;     •  economic growth  and  projected growth  measured  by GDP;     • the  budget surplus/deficit    • the  balance of payments surplus/deficit  Primarily used for  long-run  analysis and forecasts
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Fundamental Analysis of Foreign Exchange  Rates   Basic tools of fundamental analysis: •  Purchasing power parity •  Interest rate parity •  Balance of payments (behavior of current account)
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This note was uploaded on 04/28/2009 for the course AEM 2300 taught by Professor Lee,d.r. during the Fall '06 term at Cornell.

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AEM_ECON_2300_Lecture_21___Spring_2009 - AEMECON 2300...

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