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Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS
Rose, Andrew K; Svensson, Lars E O - C.E.P.R. Discussion Papers - 1991
devaluation are estimated as the difference between interest rate differentials and estimated expected rates of depreciation …
Persistent link: https://www.econbiz.de/10005124254
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Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues
Égert, Balázs; Halpern, László; MacDonald, Ronald - C.E.P.R. Discussion Papers - 2004
In this Paper we present an overview of a number of issues relating to the equilibrium exchange rates of the new EU member states from Central and Eastern Europe. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss...
Persistent link: https://www.econbiz.de/10005662370
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Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
Eschenbach, Felix; Hoekman, Bernard - C.E.P.R. Discussion Papers - 2006
Major changes have occurred in the structure of former centrally planned economies, including a sharp rise in the share of services in GDP, employment and international transactions. However, large differences exist across transition economies with respect to services intensity and services...
Persistent link: https://www.econbiz.de/10005662114
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Back to the Future: the Growth Prospects of Transition Economies Reconsidered
Campos, Nauro F - C.E.P.R. Discussion Papers - 2000
How many years will the average transition economy need to reach the income level of the average OECD country? The favoured methodology in use to answer such questions is referred to as the BLR approach, because it uses specifications from Barro, and Levine and Renelt. The literature has so far...
Persistent link: https://www.econbiz.de/10005498184
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Foreign Direct Investment as Technology Transferred: Some Panel Evidence from the Transition Economies
Campos, Nauro F; Kinoshita, Yuko - C.E.P.R. Discussion Papers - 2002
Although the theoretical literature has identified various sizeable benefits from foreign direct investment inflows (FDI), the empirical literature has been unable to establish a positive and significant impact of FDI on the rates of economic growth of host countries. One reason for this...
Persistent link: https://www.econbiz.de/10005114268
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The Output Decline in Central and Eastern Europe: A Classical Explanation
Bofinger, Peter - C.E.P.R. Discussion Papers - 1993
The paper discusses the strong output decline in the countries of Central and Eastern Europe. It starts from the puzzling observation that the former CSFR, Hungary and Poland experienced a relatively similar decline in output in spite of completely different stabilization and transformation...
Persistent link: https://www.econbiz.de/10005123537
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New Rates from New Weights
Bayoumi, Tamim; Jayanthi, Sarma; Lee, Jaewoo - C.E.P.R. Discussion Papers - 2006
This paper describes the result and the methodology of updating the IMF's nominal and real effective exchange rate weights on the basis of trade data over 1999-2001. The underlying framework is an updated version of the IMF's current effective exchange rate calculation, which uses weights...
Persistent link: https://www.econbiz.de/10005123526
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Threat of a Capital Levy, Expected Devaluation and Interest Rates in Inter-War France
Sicsic, Pierre - C.E.P.R. Discussion Papers - 1998
gold standard during the 1930s. We do this by separating expectations of taxation and of devaluation that are implicitly …
Persistent link: https://www.econbiz.de/10005662302
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Why Do Emerging Economies Borrow in Foreign Currency?
Jeanne, Olivier - C.E.P.R. Discussion Papers - 2003
This Paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default. Decreasing...
Persistent link: https://www.econbiz.de/10005666604
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The Foreign Exchange Risk Premium in a Target Zone with Devaluation Risk
Svensson, Lars E O - C.E.P.R. Discussion Papers - 1991
The foreign exchange risk premium in an exchange rate target-zone regime with devaluation/realignment risks is derived … devaluation/realignment risk, is taken into account. The risk premium is then the sum of two separate risk premia, arising from …/realignments are larger but still relatively small proportions of the expected rate of devaluation/realignment. …
Persistent link: https://www.econbiz.de/10005788869