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International Financials

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Amín Mustafá Herrera 509123 Tarea Semana 2/ Caps 1,2 y 3. 1. 1 El país C produce siete kilogramos de alimentos y cuatro metros de textiles por unidad de insumos. Calcule su costo de oportunidad por producir alimentos en lugar de textiles. Asimismo, calcule su costo de oportunidad por producir textiles en lugar de alimentos. El costo de oportunidad de producer comida en lugar de textiles es de 1 mt de textil por 1.75 kg de alimentos (7/4). De manera inversa, 1 kg de alimentos tiene un costo de oportunidad de .57 metros de textil (4/7). 2.1 Explique la ley de Gresham.
Los países que se regían por el patrón bimetálico con frecuencia sufrían el conocido fenómeno llamado ley de Gresham. Dado que la proporción del cambio entre los dos metales se fijaba oficialmente, sólo el metal abundante se utilizaba como dinero, por lo que sacaba de circulación al metal más escaso.
La ley de Gresham dice que el dinero “malo” (abundante) saca al “bueno” (escaso) de circulación. Por ejemplo, cuando el oro de las minas recién descubiertas en California y Australia inundó el mercado en la década de 1850, el valor del oro se deprimió y provocó una sobrevaluación del oro respecto de la tasa oficial francesa, que establecía que un franco de oro debía pesar 151⁄2 veces más que un franco de plata. El resultado fue que el franco, de hecho, se convirtió en una moneda de oro.

2.7 Explique cual es la composición de los derechos especiales de giro (DEG). Asímismo, explique las circunstancias que imperaban cuando los DEG fueron creados. Cuando Estados Unidos empezo a registrar deficits a finales del period Bretton Woods, Charles de Gaulle presionó al banco de Francia de comprarle todo el oro del Tesoro de Estados Unidos para deshacerse de sus reservas en dolares. En los esfuerzos por remediar el problema la FMI creó un Nuevo activo de reserve llamado DEG (Derechos especiales de giros) y así aliviar la presión sobre el dólar como moneda central de reserva. Los DEG son una canasta de divisas que incluye cuatro monedas importantes, dolar estadounidense (peso 45%), euro (29%), el yen japonés (15%) y libra británica (11%) y se asignaron a los miembros del FMI para emplearlos en transacciones, por lo que además del oro y las divisas, los paises podían utilizer los DEG para efectuar pagos internacionales, por lo que se utilizan como active de reserve y como moneda de denominación para transacciones internacionales, pues como los DEG son portafolios de monedas su valor es más estáble que el valor de cualquier otra moneda que los DEG incluyen, lo que los hace una atractiva moneda de denominación para contratos comerciales y financieros internacionales donde existe incertidumbre en los tipos de cambio.

2.9 Existen argumentos a favor y en contra de distintos regímenes para el tipo de cambio. a) Haga una lista de las ventajas del regimen cambiario con tipos flexibles. -Los ajustes externos son más fáciles -Autonomía de las politicas nacionales. b) Critique el regimen cambiario con tipos flexibles desde el punto de vista de los partidarios del regimen cambiario con tipos fijos. -Con un tipo flexible, cuando el tipo de cambios futuros son inciertos se genera una incertidumbre cambiaria que entorpece el comercio y las inversiones internacionales pues las empresas tienden a pausar sus transacciones de comercio exterior. Los partidarios del regimen cambiario de tipo fijo argumentan que este tipo de cambio elimina esta incertidumbre y se fomenta el comercio internacional pues las empresas están protegidas ante el riesgo cambiario. c) Refute la crítica anterior desde el punto de vista de los partidarios del regimen cambiario con tipos flexibles. -Al haber incertidumbre cambiaria, los recursos se asignan globalmente en forma optima. 3.1 Defina balanza de pagos Es el registro estadístico de las transacciones internacionales de un país durante un periodo determinado, presentado en forma contabilidad de partida doble.

3.10 Describa la igualdad de la balanza de pagos y explique sus implicaciones con un regimen cambiario de tipo fijo y uno de tipo flexible. La igualdad de la balanza de pagos se refiere al equilibrio que debe existir entre las diferentes transacciones, pues en ocaciones se puede dar una situación de deficit o superavit, los cuales pueden cubrirse al incrementar o disminuir sus reservas internacionales. Al tener un regimen cambiario fijo, el saldo de la cuenta corriente y la cuenta de capital seran por el mismo monto pero con el signo contrario (+,-) al de la variación de las reservas internacionales. Al tener un regimen cambiario flexible, donde el banco central no mantiene reservas oficiales, si tenemos un déficit o un superávit en la cuenta corriente, este va a ser igual al déficit o al superávit en la cuenta de capital 3.11 La ilustración 3.5 muestra que alemania tenía un déficit en su cuenta corriente en 1999, así como un déficit en la cuenta de capital al mismo tiempo. Explique por que puede ocurrir un caso así. Puede ocurrir si en el pais se cuando se compran más activos al extranjero de los que los extranjeros le compran a dicho país, ocasionando un deficit en la cuenta de capital, el hecho de que los extranjeros no compren lo que el pais en cuestión (En este caso Alemania) produce, puede ser por cambios como gustos de los consumidores sobre los bienes producidos en este pais, por los tipos de cambio, el transporte internacional, los precios de los bienes de este país en el extranjero o medidas proteccionistas en el comercio internacional, estas variables influyen en la cuenta corriente de un pais y pueden ocasionar un deficit, que es cuando los ingresos son menores a los pagos.

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