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After the Crisis, the East Asian Dollar Standard Resurrected : An Interpretation of High Frequency Exchange Rate Pegging

McKinnon, Ronald - 2007

For more than a decade before the great crisis of 1997-98, East Asian countries pegged softly to the U.S. dollar. In the period of currency chaos from mid 1997 through 1998 with exchange depreciations in eight East Asian countries, massive deflationary pressure in dollar terms which was...

Persistent link: https://www.econbiz.de/10012729266

The East Asian Dollar Standard, Fear of Floating, and Original Sin

McKinnon, Ronald - 2007

Before the crisis of 1997-98, the East Asian economies except for Japan but including China pegged their currencies to the U.S. dollar. To avoid further turmoil, the IMF now argues that these currencies should float more freely. However, our econometric estimations show that the dollar's...

Persistent link: https://www.econbiz.de/10012729302

The East Asian Dollar Standard, Fear of Floating, and Original Sin

McKinnon, Ronald; Schnabl, Gunther - 2004

Before the crisis of 1997/98, the East Asian economies - except for Japan but including China - pegged their currencies to the US dollar. To avoid further turmoil, the IMF argues that these currencies should float more freely. However, the authors' econometric estimations show that the dollar's...

Persistent link: https://www.econbiz.de/10014070350

Addressing the dollar crisis by investigating underlying causes, effects, and strategic solutions in emerging economies

Amit, Sajid; Al Kafy, Abdulla - In: Research in globalization 8 (2024), pp. 1-11

Foreign exchange reserves (FER), especially dollar assets, are vital for a developing country to maintain economic stability, foster growth, and protect against unexpected amendments. In recent years, particularly since the onset of COVID-19, several emerging countries have experienced...

Persistent link: https://www.econbiz.de/10015047801

Exchange Rate Policy and Debt Crises in Emerging Economies

Montiel, Peter - 2003

We explore a model intended to capture the interaction between exchange rate policy, fiscal policy, and outright default on foreign-currency denominated debt. We examine how the exchange rate affects the supply of short-term debt facing the government. We show that under a credible hard peg...

Persistent link: https://www.econbiz.de/10014403958

Safe haven currencies

Ranaldo, Angelo (contributor); Söderlind, Paul (contributor) - 2007

Persistent link: https://www.econbiz.de/10003674149

Safe haven currencies

Ranaldo, Angelo; Söderlind, Paul - 2007

Persistent link: https://www.econbiz.de/10003514612

Safe haven currencies

Ranaldo, Angelo; Söderlind, Paul - 2007

Persistent link: https://www.econbiz.de/10003595985

Safe Haven Currencies : A Portfolio Perspective

Cenedese, Gino - 2015

Currency portfolios exhibit asymmetric correlations: during periods of bear, volatile world equity markets, currency portfolios provide different hedging benefits than in bull markets. I show how these time-varying hedging benefits depend on currency characteristics. This paper also illustrates...

Persistent link: https://www.econbiz.de/10013019222

Carry Funding and Safe Haven Currencies : A Threshold Regression Approach

Hossfeld, Oliver - 2015

the estimation results, two currencies, the Swiss franc and (to a lesser extent) the US dollar qualify as safe haven … currencies, and the euro serves as a hedge currency. Results for the yen support its role as a carry funding vehicle, but not … analysis of bilateral euro-based exchange rates, given the euro's prominent role during the euro area sovereign debt crisis …

Persistent link: https://www.econbiz.de/10013030487

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