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Disparities of Exchange Rates in CEE Countries
Kocenda, Evzen - EconWPA - 2001
This paper analyzes disparities among nominal and real exchange rate movements across the Central and Eastern European (CEE) countries from 1991 to 1996. The method of analyzing such processes is to examine whether the differentials of exchange rate changes converge or diverge over time....
Persistent link: https://www.econbiz.de/10005062689
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Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks (Currencies, Competition, and Clans)
Engelmann, Dirk; Hanousek, Jan; Kocenda, Evzen - EconWPA - 2004
greatly reduces volatility within such an informal “currency areaâ€. Our theoretical findings are supported by empirical …
Persistent link: https://www.econbiz.de/10005561175
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Financial contagion, interest rates and the role of the exchange rate as shock absorber in Central and Eastern Europe
Habib, Maurizio Michael - EconWPA - 2002
affected by ‘vo- latility contagion’ coming from emerging markets. I find also some partial support for the ‘volatility …
Persistent link: https://www.econbiz.de/10005125528
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Financial Liberalization and Business Cycles: The Experience of Future EU Member States in the Baltics and Central Eastern Europe
Souza, Lucio Vinhas de - EconWPA - 2004
States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial … integration is observed in this specific sample of “emerging markets”. This work finds signs that, contrary to other emerging … markets, this does not happen: for the future Member States, financial integration, similarly to the outcome observed in …
Persistent link: https://www.econbiz.de/10005062709
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A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs
Goswami, Gautam; Shrikhande, Milind; Wu, Liuren - EconWPA - 2002
­term volatility of the real exchange rate with its slow convergence to parity. Further, the drift and diffusion of the real exchange …
Persistent link: https://www.econbiz.de/10005076998
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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
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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/10005124941
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Nonlinear and Complex Dynamics in Real Systems
Barnett, William; Serletis, Apostolos; Serletis, Demitre - EconWPA - 2005
This paper was produced for the El-Naschie Symposium on Nonlinear Dynamics in Shanghai in December 2005. In this paper we provide a review of the literature with respect to fluctuations in real systems and chaos. In doing so, we contrast the order and organization hypothesis of real systems with...
Persistent link: https://www.econbiz.de/10005125638
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The Nonlinear Skeletons in the Closet
Barnett, William A.; Jones, Barry E.; Kirova, Milka; … - EconWPA - 2004
Although nonlinearity is the rule in economic theory, nonlinearity tends to make life difficult for econometricians …. While there have been many advances in nonlinear econometrics in recent years, some problems produced by nonlinearity remain …
Persistent link: https://www.econbiz.de/10005556393
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The Exact Theoretical Rational Expectations Monetary Aggregate
Barnett, William A.; Hinich, Melvin J.; Yue, Piyu - EconWPA
In aggregation theory, index numbers are judged relative to their ability to track the exact aggregator functions nested within the economy's structure. Within the monetary sector, Barnett, Liu, and Jensen (1997) compared two statistical index numbers: the Divisia monetary aggregate and the...
Persistent link: https://www.econbiz.de/10005561084