This paper untangles the causes behind real exchange rate devaluation events with particular attention paid to the Sudden Stop of capital flows. By utilizing cumulative impulse response function and variance decomposition analysis, we argue that there is the asymmetric response across Sudden...

By applying the newly developed nonlinear stationary test advanced by Kapetanois et al. [Journal of Econometrics 112 (2003) 359 - 379] in examining the stationary property of 11 Asian real exchange rates, this paper rejects unit root in 8 US dollar based and 6 Japanese yen based rates, whereas...

DEVELOPMENT IS THE MOST IMPORTANT CHALLENGE FACING THE HUMAN RACE BUT THE PROCESSES DRIVING ECONOMIC DEVELOPMENT ARE BY NO MEANS FULLY UNDERSTOOD. HOWEVER, THE CORE CHALLENGE FOR DEVELOPMENT IS TO ENSURE PRODUCTIVE WORK AND A BETTER QUALITY OF LIFE FOR ALL THE PEOPLE OF THE WORLD. THIS CHALLENGE...

The book encapsulates the ways and means of doing business with China, and the opportunities out there. It reveals how China has transformed itself for the investors by creating a friendly environment; but,nevertheless, cultural and social aspects must not be forgotten while dealing with them....

DEVELOPMENT IS THE MOST IMPORTANT CHALLENGE FACING THE HUMAN RACE BUT THE PROCESSES DRIVING ECONOMIC DEVELOPMENT ARE BY NO MEANS FULLY UNDERSTOOD. HOWEVER, THE CORE CHALLENGE FOR DEVELOPMENT IS TO ENSURE PRODUCTIVE WORK AND A BETTER QUALITY OF LIFE FOR ALL THE PEOPLE OF THE WORLD. THIS CHALLENGE...

FX pricing processes are nonstationary and their frequency characteristics are time-dependent. Most do not conform to geometric Brownian motion, since they exhibit a scaling law with a Hurst exponent between zero and 0.5 and fractal dimensions between 1.5 and 2. This paper uses wavelet...

El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...