Similar Search Results

The Portuguese Disinflation Process: Analysis of Some Costs and Benefits

Duarte, António Portugal - EconWPA - 2005

This study aims to analyse the Portuguese economic policy of disinflation through a nominal stabilization policy of the Portuguese escudo. We study the pegging of the Portuguese escudo (PTE) to the Deutsch mark (DM) knowing the reputation of the Bundesbank for its anti- inflationary record and...

Persistent link: https://www.econbiz.de/10005556600

The Effects of Japanese Foreign Exchange Intervention: GARCH Estimation and Change Point Detection

Hillebrand, Eric; Schnabl, Gunther - EconWPA - 2004

We study the impact of Japanese foreign exchange intervention on the volatility of the yen/dollar exchange rate since … results for the impact of foreign exchange intervention on the yen/dollar exchange rate volatility are inconclusive. Sub … 1990s Japanese foreign exchange intervention seems to have increased the volatility of the yen/dollar exchange rate. In …

Persistent link: https://www.econbiz.de/10005556654

How should emerging economies manage their foreign exchange reserves?

Gupta, Akash; Agarwal, Rahul - EconWPA - 2004

Asia has emerged as the balancing wheel of global finance. The countries of Asia now account for 70 per cent of global …

Persistent link: https://www.econbiz.de/10005119482

Early Locking to the Euro: Some Estimates for the New EU Countries based on Equilibrium Exchange Rates

Melecky, Martin - EconWPA - 2005

The ECB recommends to prospective euro-area members that they choose the central parities, for fixing their currencies against the euro, consistent with a broad range of economic indicators while taking account of the market rate as well. In this paper, we estimate a behavioral model of the real...

Persistent link: https://www.econbiz.de/10005408207

How the gold standard functioned in Portugal: an analysis of some macroeconomic aspects

Duarte, António Portugal; Andrade, João Sousa - EconWPA - 2005

This paper studies the Gold Standard in Portugal. It was the first country in Europe to join Great Britain in 1854. The principle of free gold convertibility was abandoned in 1891. For the purposes of a macroeconomic study, we also extended the analysis up to 1913. Our study points out the...

Persistent link: https://www.econbiz.de/10005412543

The Behavioral Equilibrium Exchange Rate of the Czech Koruna

Melecky, Martin; Komarek, Lubos - EconWPA - 2005

The behavioural equilibrium exchange rate (BEER) model of the Czech koruna is derived in this paper and estimated by three methods suitable for non-stationary time series. The considered potential determinants of the real equilibrium exchange rate are the productivity differential, the interest...

Persistent link: https://www.econbiz.de/10005119429

FOREIGN EXCHANGE INTERVENTION AND THE POLITICAL BUSINESS CYCLE: A PANEL DATA ANALYSIS

Dreher, Axel; Vaubel, Roland - EconWPA - 2005

By combining expansionary open market operations with sales of foreign exchange, the central bank can expand the monetary base without depreciating the exchange rate. Thus, if there is a monetary political business cycle, sales of foreign exchange are especially likely before elections. Our...

Persistent link: https://www.econbiz.de/10005119484

Central banks and information provided to the private sector

Bartolomeo, Giovanni Di; Marchetti, Enrico - EconWPA - 2005

This paper examines the information provided to the private sector by central anks. By using the principal component analysis, we investigated the variance of the procedural rules followed by nine major central banks about information reatments. We investigate problems related to the information...

Persistent link: https://www.econbiz.de/10005126295

Central Banks and Information Provided to the Private Sector

Marchetti, Enrico; Bartolomeo, Giovanni Di - EconWPA - 2003

This paper examines the information provided to the private sector by central banks. By using the principal component analysis, we investigated the variance of the procedural rules followed by nine major central banks about information treatments. We investigate problems related to the...

Persistent link: https://www.econbiz.de/10005126385

Detecting Structural Breaks: Exchange Rates in Transition Economies

Kocenda, Evzen - EconWPA - 2001

The aim of this paper is to provide evidence about the existence or non- existence of structural breaks in exchange rates of European transition economies. We used the testing procedure of Vogelsang (1997) that allows for detecting a break at an unknown date in the trend function of a dynamic...

Persistent link: https://www.econbiz.de/10005556048

1
2
3
4
5
6
7
8
9
10
Next
Last