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implications of the first decade of the Euro and to extend this understanding forwards to Europe and beyond. …
Persistent link: https://www.econbiz.de/10010669631
analysis. Findings– First, it has been found that the movements in the RMB dollar exchange rate do influence the dollar euro … implied that the RMB is overvalued vis-à-vis the US dollar, as the analysis suggests that an overvalued euro vis-à-vis the US … dollar would imply a kind of overvaluation of the RMB vis-à-vis the US dollar, and by any conventional measures the euro has …
Persistent link: https://www.econbiz.de/10010741347
This paper studies the effects of the TNX ten-year treasury note, the crude oil light sweet, the denatured fuel ethanol, the S%P 500 Stock Index and the US dollar/yen exchange rate on the conditional mean and variance return of corn futures. It employs daily data from January 1, 2002 to August...
Persistent link: https://www.econbiz.de/10010669644
While currency crises are typically considered to be painful and costly events, a closer look reveals that economic developments after a speculative attack differ considerably. Monetary authorities can play a central role in determining the economic course and costs of currency crises. They have...
Persistent link: https://www.econbiz.de/10010931656
Output effects of currency crises are often estimated to be negative and persistent. A new banking crisis database allows us to construct pure currency collapses that are not associated with banking crises. The estimates show that countries facing a pure currency crisis have full recovery of...
Persistent link: https://www.econbiz.de/10011154810
countries, the initial members of the euro club. This exercise is implemented using hierarchical cluster analysis for pre- and … post-euro periods. As a robustness check, a principal component analysis is applied. Secondly, the analysis deploys a …
Persistent link: https://www.econbiz.de/10010949445
In 1991, the European Union undertook to form a full-fledged monetary union. It established the European Monetary Union with a European Central Bank (ECB) at its apex and a mandate to pursue price stability. The European regime differs from the US Federal Reserve System, which must pursue high...
Persistent link: https://www.econbiz.de/10010669628
This study investigates the determinants of euro-dollar exchange rate since the inception of euro in January 1999 … index (CPI), unemployment rate (UMP), and money supply (M1) are important in explaining the value of the euro relative to … correction models (VAR/VECM) show that the euro-dollar exchange rate is impacted by only CCI and M1. …
Persistent link: https://www.econbiz.de/10010669819
economic influence on the Euro. The second gives evidence of support for Purchasing Power Parity (PPP) using monthly data …
Persistent link: https://www.econbiz.de/10008539393
This paper demonstrates that the current economic crisis has its roots in the evolution of the global economy during the 1960s. The gradual increase of US debt from the 1960s accompanied by the deficit in the US trade balance due to international competition from EU, Japan, and later from China...
Persistent link: https://www.econbiz.de/10009352458