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Exchange Rate Regimes and Economic Linkages
Lee, Jong-Wha; Shin, Kwanho - EconWPA - 2004
We investigate how the exchange rate regime influences economic linkages across countries. We divide the exchange rate regime into three classifications: currency union, peg and floating exchange rates. Unlike most studies solely focusing on the relationship between anchor and client countries,...
Persistent link: https://www.econbiz.de/10005062707
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De jure versus de facto Exchange Rate Stabilization in Central and Eastern Europe
Schnabl, Gunther - EconWPA - 2004
The IMF classifications of the Central and Eastern European (CEE) exchange rate arrange-ments are heterogeneous. While one group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate flexibility. Based on the recent dis- cussion about the...
Persistent link: https://www.econbiz.de/10005119495
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Intra-EU trade and investment in service sectors, and regulation patterns
Kox, Henk. L.M.; Lejour, Arjan; Montizaan, Raymond - EconWPA - 2004
The paper sketches the basic patterns and facts about service trade, foreign direct investment and regulation in the EU … is also the case for foreign direct investment (in services). The level of regulation within the EU has decreased …, and this is the cause of an increased variance in the level of regulation over Europe. The level of regulation in the EU …
Persistent link: https://www.econbiz.de/10005119237
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Exchange Rate Regimes and Nominal Convergence in the CEECs
Järvinen, Marketta - EconWPA - 2002
This paper examines, in the context of future EMU membership of the Central and Eastern European countiries (CEECs …
Persistent link: https://www.econbiz.de/10005076688
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Against Rigid Rules - Keynes's Economic Theory
Muchlinski, Elke - EconWPA - 2005
This paper provides textual evidence of Keynes´s position on monetary policy and shaping international monetary relations. One result of my contribution is that the famous dichotomy 'rules versus discretion' is of no relevance to his economic theory, because he used the term 'rules' not in the...
Persistent link: https://www.econbiz.de/10005076842
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A Preliminary Evaluation of Monetary Policy Rules for Russia
Souza, Lucio Vinhas de - EconWPA - 2004
The paper reviews the recent conduct of monetary policy and the central bank’s rule-based behavior in Russia. Using different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange rate in a consistent and predictable manner. Our...
Persistent link: https://www.econbiz.de/10005076844
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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
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Is the Euro Working? The Euro and European Labour Markets
Silvia, Stephen - EconWPA - 2005
Now that four years have passed since the introduction of the euro as a commercial currency, it has become possible to assess many arguments made in the abstract during the 1990s about the implications of monetary union. This contribution does precisely that. In brief, the euro zone still falls...
Persistent link: https://www.econbiz.de/10005124952
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Integration or Segmentation of Malaysian Equity Market: An Analysis of Pre- and Post- Capital Controls
Ibrahim, Mansor H. - EconWPA - 2004
The paper implements time series techniques of cointegration and vector autoregression (VAR) to assess the integration or segmentation of Malaysian equity market prior to the Asian crisis and after the imposition of capital controls. We consider both regional and international financial forces...
Persistent link: https://www.econbiz.de/10005125066
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Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period
Obstfeld, Maurice; Shambaugh, Jay C.; Taylor, Alan M. - EconWPA - 2004
The interwar period was marked by the end of the classical gold standard regime and new levels of macroeconomic disorder in the world economy. The interwar disorder often is linked to policies inconsistent with the constraint of the open-economy trilemmathe inability of policymakers...
Persistent link: https://www.econbiz.de/10005125498