Narrow search
Showing 1 - 10 of 73
Cover Image
Efficiency of the Foreign Exchange Market of Papua New Guinea During the Recent Float
Wickremasinghe, Guneratne Banda - EconWPA - 2004
This paper examines the validity of the efficient market hypothesis (EMH) for the foreign exchange market of Papua New Guinea (PNG) using data on spot exchange rates for four major foreign currencies during the recent float. The unit root test results indicate that all the four exchange rates...
Persistent link: https://www.econbiz.de/10005408043
Cover Image
EFFICIENCY OF FOREIGN EXCHANGE MARKETS: A DEVELOPING COUNTRY PERSPECTIVE
Wickremasinghe, Guneratne Banda - EconWPA - 2004
This study tests weak and semi-strong form efficiency of the foreign exchange market in Sri Lanka using six bilateral foreign exchange rates during the recent float. Weak-form efficiency is examined using unit root tests while semi-strong form efficiency is tested using co- integration and...
Persistent link: https://www.econbiz.de/10005556627
Cover Image
Equity Returns and Inflation: The Puzzlingly Long Lags
Lothian, James R.; McCarthy, Cornelia H.. - EconWPA - 2001
equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …
Persistent link: https://www.econbiz.de/10005124935
Cover Image
CLAVES DE LA INFLACION DE 2005
Marongiu, Federico - EconWPA - 2005
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...
Persistent link: https://www.econbiz.de/10005076625
Cover Image
Exchange Rate Regimes and Nominal Convergence in the CEECs
Järvinen, Marketta - EconWPA - 2002
based on the Fiscal Theory of the Price Level (FTPL). The re sults show that a credibly fixed exchange rate is inconsistent …
Persistent link: https://www.econbiz.de/10005076688
Cover Image
Is corporatism feasible?
Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2003
In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis-à-vis different kinds of non-co-operative equilibria. Afterwards, we introduce in the literature the issue...
Persistent link: https://www.econbiz.de/10005076716
Cover Image
INFLATION AND PRICE DISPERSION IN EQUITY MARKETS AND IN GOODS AND SERVICES MARKETS
Popper, David Parsley Helen - EconWPA - 2002
An empirical link between inflation and price dispersion has been well established in goods and services markets – both …. Specifically, we examine the link between inflation and price dispersion in an empirical setting patently lacking the market … inflation-dispersion link in goods and services markets with a matched panel of equity market prices. Surprisingly, we find that …
Persistent link: https://www.econbiz.de/10005076784
Cover Image
Who Controls the Price Level?
Erdogdu, Oya S. - EconWPA - 2003
rapidly growing literature on Fiscal Theory of Price Level, which opens up new horizons in a non–Ricardian world and questions …
Persistent link: https://www.econbiz.de/10005076798
Cover Image
Staggered prices and trend inflation: some nuisances
Ascari, Guido - EconWPA - 2004
Most of the papers in the sticky-price literature are based on a log- linearization around the zero inflation steady … state, a simplifying but counterfactual assumption. This paper shows that when trend inflation is considered, both the long … results obtained by models log-linearized around a zero inflation steady state are quite misleading. Furthermore, the same is …
Persistent link: https://www.econbiz.de/10005076806
Cover Image
Canaries and Vultures: A Quantitative History of Monetary Mismanagement in Brazil
Albuquerque, Pedro H.; Gouvea, Solange - EconWPA - 2005
During the last two decades of the twentieth century, Brazil went through a sequence of failed stabilization plans that tried to cope with an enduring hyperinflation. This paper uses a money demand model to evaluate monetary policies during those episodes. The consistency between the money...
Persistent link: https://www.econbiz.de/10005124863