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Die Berücksichtigung der zukünftigen Entwicklung des Wechselkurses ist sowohl für internationale Unternehmen als auch für international tätige Investoren unabdingbar. Allerdings ist die Erstellung von Wechsel- kursprognosen schwierig, da bis zum heutigen Zeitpunkt kein allgemein anerkanntes...
Persistent link: https://www.econbiz.de/10010305747
A striking and unexpected feature of the financial crisis has been the sharp appreciation of the US dollar against virtually all currencies globally. The paper finds that negative US-specific macroeconomic shocks during the crisis have triggered a significant strengthening of the US dollar,...
Persistent link: https://www.econbiz.de/10011605106
Persistent link: https://www.econbiz.de/10011807332
This paper investigates bond issuance of non-financial corporations in advanced economies during the period 1999-2003, attempting to understand motives for issuing in foreign currency, and determinants for the choice of currency. We consider the following influences on the currency choice when...
Persistent link: https://www.econbiz.de/10011604860
moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at …
Persistent link: https://www.econbiz.de/10011604998
The estimation of an ordered probit model for currency reforms trying to end 31 hyperinflations and three big …
Persistent link: https://www.econbiz.de/10011390618
This paper investigates to what extent Chinese monetary policy is constrained by the dollar peg. To this end, we use a cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy. In a second step, we estimate a monetary model for China, in which we include...
Persistent link: https://www.econbiz.de/10010303913
Persistent link: https://www.econbiz.de/10011475508
dollar’s decline are the euro and the Chinese renminbi. The probability that the renminbi will eventually become one of the … world’s key currencies is very high, but the speed of the process is uncertain. As far as the euro is concerned, much will … result in radical steps towards fiscal and financial integration. If such steps are taken, the euro will secure both internal …
Persistent link: https://www.econbiz.de/10010317320
Die globale Finanzkrise und der damit verbundene dramatische Einbruch der privaten Kapitalflüsse hat die …
Persistent link: https://www.econbiz.de/10011602066