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The Interaction between Technical Currency Trading and Exchange Rate Fluctuations

Schulmeister, Stephan - EconWPA - 2005

This paper examines the mutually reinforcing interactions between exchange rate dynamics and technical trading strategies. I first show that technical trading systems have been quite profitable during the floating rate period. This profitability stems from the successful exploitation of...

Persistent link: https://www.econbiz.de/10005561584

Modelling International Bond Markets with Affine Term Structure Models

Mosburger, Georg; Schneider, Paul - EconWPA - 2005

modelling international bond markets. We derive necessary conditions for the correlation and volatility structure of mixture …

Persistent link: https://www.econbiz.de/10005134688

Exchange Rate – Relative Price Relationship: Nonlinear Evidence from Malaysia

Liew, Venus Khim-Sen; Lim, Kian-Ping; Lau, Evan; … - EconWPA - 2003

Using nonlinear unit root tests developed by Kapetanios et al. (2003), we find strong evidence that the Consumer Price Index (CPI) and Wholesale Price Index (WPI) based Malaysian Ringgit – U.S. Dollar (MYR/USD) real exchange rates are nonlinear stationary, implying that MYR/USD nominal...

Persistent link: https://www.econbiz.de/10005124933

Exchange Rate – Relative Price Relationship: Nonlinear Evidence from Malaysia

Liew, Venus Khim-Sen; Lim, Kian-Ping; Lau, Evan; … - EconWPA - 2003

Persistent link: https://www.econbiz.de/10005124941

The impact on the U.S. Dollar of the conflict between the American locomotive’s model and the emerging economies’ autopoietic growth.

Viviani, Carlo; Savona, Paolo - EconWPA - 2005

The purpose of this paper is to put the future of the US dollar into a logical framework which comprises the global development mechanism. Two models of growth collide: the US «locomotive», based on the international use of the dollar, and which requires exogenous pushes coming permanently...

Persistent link: https://www.econbiz.de/10005124951

The Predictability of ASEAN-5 Exchange Rates

Baharumshah, Ahmad Zubaidi; Sen, Liew Khim - EconWPA - 2003

, Thailand baht, Singapore dollar, Indonesian rupiah and the Philippines peso, denominated in US dollar as well as Japanese yen … hand, other Asean exchange rates were better predicted when denominated in Japanese yen, as they had closer economic ties … instability as experienced by Indonesia, hence Indonesian rupiah remained unpredictable by yen. These results show that although …

Persistent link: https://www.econbiz.de/10005408166

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

Exchange Rate and Trade Balance Relationship: The Experience of ASEAN Countries

Liew, Khim-sen; Lim, Kian-Ping; Hussain, Huzaimi - EconWPA - 2003

This study addresses the question of whether exchange rate changes have any significant and direct impact on trade balance. By examining the trade balances between ASEAN-5 countries and Japan for the sample period from 1986 to 1999, this study found that the role of exchange rate changes in...

Persistent link: https://www.econbiz.de/10005119300

Does a free trade area favors an optimum currency area? The Case of Morocco and the European Union

ACHY, Lahcen; Milgram, Juliette - EconWPA - 2005

The purpose of this paper is to investigate simultaneously the potential effects of European Union's Association Agreement with Morocco and the adoption of the Euro as a single currency on exchange rate regime of Moroccan Dirham. Since Morocco depends heavily on EU as a market for its exports...

Persistent link: https://www.econbiz.de/10005062594

Exchange Rate Determination from Monetary Fundamentals: an Aggregation Theoretic Approach

Barnett, William; Kwag, Chang Ho - EconWPA - 2005

We incorporate aggregation and index number theory into monetary models of exchange rate determination in a manner that is internally consistent with money market equilibrium. Divisia monetary aggregates and user-cost concepts are used for money supply and opportunity-cost variables in the...

Persistent link: https://www.econbiz.de/10005408047