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Is the Chinese currency substantially misaligned to warrant further appreciation?
Qin, Duo; He, Xinhua - 2010
estimation is based on a commonly used economic approach, but with a wider and more up-to-date coverage of data and a more … misalignment exists in the trilateral rates between the RMB, US$ and euro. The finding refutes the claim that RMB appreciation is …
Persistent link: https://www.econbiz.de/10010280745
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Purchasing power parity and the European single currency: some new evidence
Christidou, Maria; Panagiotidis, Theodore - 2010
EU countries, vis a vis the US dollar, before and after the advent of the euro. Standard as well as nonlinear unit root …
Persistent link: https://www.econbiz.de/10010273678
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Hegemonic currencies during the crisis: The dollar versus the euro in a cartalist perspective
Fields, David; Vernengo, Matías - 2011
default. It is argued that the current crisis in Europe illustrates why the euro is not a real contender for hegemony in the …
Persistent link: https://www.econbiz.de/10010281749
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In- and out-of-sample specification analysis of spot rate models: Further evidence for the period 1982-2008
Cai, Lili; Swanson, Norman R. - 2011
We review and construct consistent in-sample specification and out-of-sample model selection tests on conditional distributions and predictive densities associated with continuous multifactor (possibly with jumps) and (non)linear discrete models of the short term interest rate. The results of...
Persistent link: https://www.econbiz.de/10010282832
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Will the euro eventually surpass the dollar as leading international reserve currency?
Chinn, Menzie; Frankel, Jeffrey - 2006
: the euro. This paper econometrically estimates determinants of the shares of major currencies in the reserve holdings of ….9). The advent of the euro interrupts the continuity of the historical data set. So we estimate parameters on pre-1999 data … dollar and euro over the period 1999-2004. Whether the euro might in the future rival or surpass the dollar as the world …
Persistent link: https://www.econbiz.de/10010285296
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Desigualdad, profundidad financiera e impacto en la cuenta corriente
Carrera, Jorge; Rodríguez, Esteban; Sardi, Mariano - 2015
Persistent link: https://www.econbiz.de/10011417928
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Maturity Mismatch and Financial Crises: Evidence from Emerging Market Corporations
Bleakley, Hoyt; Cowan, Kevin - 2005
Substantial attention has been paid in recent years to the risk of maturity mismatch in emerging markets. Although this risk is microeconomic in nature, the evidence advanced thus far has taken the form of macro correlations. This paper empirically evaluates this mechanism at the micro level by...
Persistent link: https://www.econbiz.de/10010327059
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Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution
Mendoza, Enrique - 2002
Financial contagion and Sudden Stops of capital inflows experienced in emerging-markets crises may originate in an explosive mix of lack of policy credibility and world capital market imperfections that afflict emerging economies with national currencies. Hence, this paper argues that abandoning...
Persistent link: https://www.econbiz.de/10010327089
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Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises
Arellano, Cristina; Mendoza, Enrique - 2002
Financial frictions are a central element of most of the models that the literature on emerging markets crises has proposed for explaining the Sudden Stop phenomenon. To date, few studies have aimed to examine the quantitative implications of these models and to integrate them with an...
Persistent link: https://www.econbiz.de/10010327148
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Review of "Emerging Markets Resilience and Growth Amid Global Turmoil by M. Ayhan Kose and Eswar S. Prasad"
Bora Durdu, C. - 2011
Emerging Markets Resilience and Growth amid Global Turmoil provides an excellent contribution to the literature. The book covers a variety of important topics on emerging market economies and offers invaluable information for a wide range of audience; from academics to policy makers as well as...
Persistent link: https://www.econbiz.de/10010500174