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To what extent do exchange rates and their volatility affect trade ?
Huchet-Bourdon, Maryline; Korinek, J. - HAL - 2011
Trade deficits and surpluses are sometimes attributed to intentionally low or high exchange rate levels. The impact of exchange rate levels on trade has been much debated but the large body of existing empirical literature does not suggest an unequivocally clear picture of the trade impacts of...
Persistent link: https://www.econbiz.de/10010899210
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Fighting Inflation Within the Dollarization Context: The Case of Vietnam
Goujon, Michaël - HAL - 2011
in a context of dollarization. In this study, a model shedding light on the determinants of inflation in the case of …During the transition towards a market economy, the Vietnamese economy has embarked upon a path of lasting disinflation … dollarization is developed and estimated with a two-step procedure for Vietnam in the 1990s. In particular, the results of this …
Persistent link: https://www.econbiz.de/10008836509
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Inflation Targeting, Exchange Rate and Financial Globalization
Tahir, Muhammad Naveed - HAL - 2011
In this paper we investigate the impact of financial globalization on the behaviour of inflation targeting emerging … data for six emerging market inflation targeting economies from the date of their inflation targeting adoption to 2009 Q4 … should not be so as even under flexible inflation targeting central bank responds to inflation deviation and output gap; we …
Persistent link: https://www.econbiz.de/10009372685
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The impact of monetary policy signals on the intradaily euro-dollar volatility
Mokhtar, Darmoul - HAL - 2006
In this paper, we investigate the impact of monetary policy signals stemming from the ECB Council and the FOMC on the intradaily Euro-dollar volatility, using high-frequency data (five minutes frequency). For that, we estimate an AR(1)-GARCH(1,1) model, which integrates a polynomials structure...
Persistent link: https://www.econbiz.de/10010750789
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Monetary Policy and Credit Cycles: A DSGE Analysis
Badarau, Florina-Cristina; Popescu, Alexandra - HAL - 2012
The recent fi nancial crisis revealed several flaws in both monetary and fi nancial regulation. Contrary to what was believed, price stability is not a suffi cient condition for financial stability. At the same time, micro-prudential regulation alone becomes insu fficient to ensure the financial...
Persistent link: https://www.econbiz.de/10010821362
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Determinants of Global Liquidity Dynamics:a FAVAR approach
Djigbenou, Marie-Louise - HAL - 2014
Global liquidity, which consists of both monetary liquidity (quantitative easing and traditional policies) and funding liquidity, follows specific dynamics. The importance of these dynamics is reflected by the growing interest in international policy fora in the economic efects and determinants...
Persistent link: https://www.econbiz.de/10010899663
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The Failure of Financial Macroeconomics and What to Do About it
Chatelain, Jean-Bernard; Ralf, Kirsten - HAL - 2012
The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...
Persistent link: https://www.econbiz.de/10011025682
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Stability and Identification with Optimal Macroprudential Policy Rules
Chatelain, Jean-Bernard; Ralf, Kirsten - HAL - 2014
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10011026031
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Stability and Identification with Optimal Macroprudential Policy Rules
Chatelain, Jean-Bernard; Ralf, Kirsten - HAL - 2014
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10011026203
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(Post) Keynesian alternative to inflation targeting*
Asensio, Angel - HAL - 2008
While the mainstream policies can not be surpassed in the enchanted ‘optimizable'world, (Post) Keynesians have to resign themselves to manage without magic wand inthe uncertain real world. The paper discusses the monetary rules proposed in the recentPost Keynesian literature. It argues that...
Persistent link: https://www.econbiz.de/10008792683