Similar Search Results

An Empirical Examination of a Multilateral Target Zone.

Schulstad, Paul; Serrat, Ángel - Banco de España - 1995

Persistent link: https://www.econbiz.de/10005022238

The transmission of emerging market shocks to global equity markets

Sáez, Lucía Cuadro; Fratzscher, Marcel; Thimann, Christian - Banco de España - 2007

The paper analyses whether, and to what extent, emerging market economies (EMEs) have systemic importance for global financial markets, above and beyond their influence during crises episodes. Using a novel database of exogenous economic and political shocks for 14 EMEs, we find that EME shocks...

Persistent link: https://www.econbiz.de/10005022262

Speculation, Hedging and Intermediation in the Foreign Exchange Market.

Krüger, Malte - Banco de España - 1996

In this study it is attempted to estimate the amount of speculation in foreign exchange market.

Persistent link: https://www.econbiz.de/10005155219

An Empirical Analysis of the Peseta's Exchange Rate Dynamics.

Ayuso, Juan; Vega, Juan L. - Banco de España - 1996

The paper addresses the issue of the role of exchange rate jumps. The short-run dynamics of the peseta's effective exchange rate vis-a- vis OECD countries over the period 1974:1 - 1995:9 is estimated using a PPP-based error-correction model enlarged with additional terms allowing for the...

Persistent link: https://www.econbiz.de/10005155238

Optimal Exchange Rate Targets and Macroeconomic Stabilization.

Ila, Enrique Alberola - Banco de España - 1996

Exchange rate targets in a stabilization game are considered. The targeting strategy consists on the choice of a desired level for the exchange and the weight assigned to such target in the loss function. The exchange rate target appears then as an intermediate objective and acts as a surrogate...

Persistent link: https://www.econbiz.de/10005088323

Devaluations and Depreciation Expectations in the E.M.S.

Ayuso, Juan; Jurado, María Pérez - Banco de España - 1995

Persistent link: https://www.econbiz.de/10005590659

Do Exchange Rate Move to Address International Macroeconomic Imbalances?

Canzoneri, Matthew B.; Vallés, Javier; Viñals, José - Banco de España - 1996

This paper provides empirical evidence on the effectiveness of movements in nominal exchange rates in smooting cyclical imbalances between countries, as explained by the literature on optimal currency areas.

Persistent link: https://www.econbiz.de/10005590669

Is there a Trade-Off Between Exchange Rate Risk and Interest Rate Risk?

Huertas, Juan Ayuso - Banco de España - 1995

Persistent link: https://www.econbiz.de/10005590703

Contagion and portfolio shift in emerging countries' sovereign bonds

Ríos, Antonio Díez de los; Herrero, Alicia García - Banco de España - 2003

The paper tests whether there were events of contagion, and portfolio shift, in the sovereign bond markets of eleven emerging countries' between January 1995 and November 2001. From existing definitions, we narrow down the concept of contagion by focusing on pricing errors, after general market...

Persistent link: https://www.econbiz.de/10004965259

Does the IMF´s official support affect sovereign bond maturities?

Erce, Aitor - Banco de España - 2012

IMF lending during debt crises on the sovereign’s optimal maturity structure. Within the model, although IMF assistance is … from the International Monetary Fund. I first present a model of sovereign debt issuance at various maturities featuring … able to catalyse private flows, this provides incentives for government to issue larger amounts of short-term debt, making …

Persistent link: https://www.econbiz.de/10010862291