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EXCHANGE RATE REGIMES AND FISCAL PERFORMANCE. DO FIXED EXCHANGE RATE REGIMES GENERATE MORE DISCIPLINE THAN FLEXIBLE ONES?
Vuletin, Guillermo J. - Econometric Society - 2004
for dynamic proposal panel models proposed by Arellano and Bond (1991) and diverse exchange rate classifications are used …
Persistent link: https://www.econbiz.de/10005328952
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MONETARY EXCHANGE RATE MODEL REVISITED: COINTEGRATION AND FORECASTING IN HETEROGENEOUS PANEL DATA
BUTT, MUHAMMAD S.; IQBAL, AZHAR; AHMAD, NUZHAT - Econometric Society - 2004
ABSTRACT This study re-examines the exchange rate-monetary fundamentals link with in a panel data framework. Pure time …) and Groen (2000)). Using recently developed Panel Data Techniques; we would test the exchange rates and monetary … fundamentals in a quarterly panel of 19 countries mostly from developed region extending from 1973.1 to 1997.1. Present analysis …
Persistent link: https://www.econbiz.de/10005086422
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Explaining the dollar/euro exchange rate: the role of policy uncertainty, asymmetric information, and hedging opportunities
Melvin, Michael; Gomez, Manuel - Econometric Society - 2004
Many observers were surprised by the depreciation of the euro after its launch in 1999. Handicapped by a short sample, explanations tended to appeal to anecdotes and lessons learned from the experiences of other currencies. Now sample sizes are just becoming large enough to permit reasonable...
Persistent link: https://www.econbiz.de/10005328941
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Exchange Rate Volatility and Trade among the Asia Pacific Countries
Baak, SaangJoon - Econometric Society - 2004
countries, where various measures to raise the intra-region trade are being implemented. The empirical tests using annual data …
Persistent link: https://www.econbiz.de/10005342350
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Optimal Fear of Floating: The Role of Currency Mismatches and Fiscal Constraints
Ganapolsky, Eduardo J. J. - Econometric Society - 2004
whole range of observed policies. The trade-off proposed in the paper is driven by two facts that proved to be crucial in …
Persistent link: https://www.econbiz.de/10005129770
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Financial Frictions and Business Cycles in Developing Countries
Guajardo, Jaime - Econometric Society - 2004
Standard theory of small open economies predicts a smooth path for consumption and investment over time, and procyclical current account balances and employment. This contrasts with the data for emerging countries, where consumption, investment and employment are highly procyclical and volatile,...
Persistent link: https://www.econbiz.de/10005129792
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Stock Market Volatility: Examining North America, Europe and Asia
Premaratne, Gamini; Bala, Lakshmi - Econometric Society - 2004
An understanding of volatility in stock markets is important for determining the cost of capital and for assessing investment and leverage decisions as volatility is synonymous with risk. Substantial changes in volatility of financial markets are capable of having significant negative effects on...
Persistent link: https://www.econbiz.de/10005063749
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On the Role and Eects of IMF Seniority
Saravia, Diego - Econometric Society - 2004
The paper presents a three period model that studies the eects of IMF loans on borrowers’ and lenders’ welfare highlighting the fact that the IMF has both de jure and de facto seniority rights over private creditors. It is shown that an IMF intervention affects borrowers and...
Persistent link: https://www.econbiz.de/10005699628
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Exchange Rate Fluctuations, Financing Constraints, Hedging, and Exports: Evidence from Firm Level Data
Ryoo, Heajin; Dekle, Robert - Econometric Society - 2004
An important puzzle in international macroeconomics is the exchange rate disconnect puzzle. Based on recent empirical literature by Mussa (1986), Baxter and Stockman (1989), and Flood and Rose (1995), high exchange rate volatility under floating rates appear not to be related to the high...
Persistent link: https://www.econbiz.de/10005699665
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The Role of Firm Size in Controlling Output Volatility during the Asian Financial Crisis
Chen, Hung-ju; Hsu, Hsiao-tang - Econometric Society - 2004
This study sets out to develop a simplified risk premium model to explain output volatility within the economies of Asia in the immediate aftermath of the Asian financial crisis. Firms are allowed to borrow from both domestic and foreign banks, with the firms� debts being loosely...
Persistent link: https://www.econbiz.de/10005702603