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Monetary policy shocks and macroeconomic variables: Evidence from fast growing emerging economies

Ivrendi, Mehmet; Yildirim, Zekeriya - Institut für Weltwirtschaft (IfW) - 2013

domestic currency, increases interest rates, effectively controls inflation rates and reduces output. They do not find any …

Persistent link: https://www.econbiz.de/10010956075

Black swans, dragon kings, and Bayesian risk management

Haas, Armin; Onischka, Mathias; Fucik, Markus - Institut für Weltwirtschaft (IfW) - 2013

In the past decades, risk management in the financial community has been dominated by data-intensive statistical methods which rely on short historical time series to estimate future risk. Many observers consider this approach as a contributor to the current financial crisis, as a long period of...

Persistent link: https://www.econbiz.de/10010956151

Umbaupläne und Reparaturarbeiten an der internationalen Finanzarchitektur: Eine Zwischenbilanz aus deutscher Perspektive

Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2001

Die Forderungen von Globalisierungskritikern nach einem radikalen Umbau der internationalen Finanzmarktordnung sind von den wirtschaftspolitischen Entscheidungsträgern aus guten Gründen abgelehnt worden. Vorzuwerfen ist den Entscheidungsträgern allerdings, dass auch ökonomisch sinnvolle...

Persistent link: https://www.econbiz.de/10005755225

Volatility Spillover in the Foreign Exchange Market: The Indian Experience

Ghosh, Saurabh - Institut für Weltwirtschaft (IfW) - 2012

We find evidences of significant volatility co-movements and/ or spillover from different financial markets to forex market for Indian economy. Among a large number of variables examined, volatility spillovers from stock market, government securities market, overnight index swap, Ted spread and...

Persistent link: https://www.econbiz.de/10010886827

A Bargaining Theory of Trade Invoicing and Pricing

Goldberg, Linda; Tille, Cédric - Institut für Weltwirtschaft (IfW) - 2013

We develop a theoretical model of international trade pricing in which individual exporters and importers bargain over the transaction price and exposure to exchange rate fluctuations. We find that the choice of price and invoicing currency reflects the full market structure, including the...

Persistent link: https://www.econbiz.de/10010886869

Do Real Exchange Rate Appreciations Matter for Growth?

Bussière, Matthieu; Lopez, Claude; Tille, Cédric - Institut für Weltwirtschaft (IfW) - 2014

While the impact of exchange rate changes on economic growth has long been an issue of key importance in international macroeconomics, it has received renewed attention in recent years, owing to weaker growth rates and the debate on "currency wars". However, in spite of its prevalence in the...

Persistent link: https://www.econbiz.de/10010886950

A Preliminary Evaluation of Monetary Policy Rules for Russia

Esanov, Akram; Merkl, Christian; Souza, Lúcio Vinhas de - Institut für Weltwirtschaft (IfW) - 2004

different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange …The paper reviews the recent conduct of monetary policy and the central bank’s rule-based behavior in Russia. Using … rate in a consistent and predictable manner. Our results indicate that during the period of 1993-2002 the Bank of Russia …

Persistent link: https://www.econbiz.de/10005076111

Sources of Euro Real Exchange Rate Fluctuations: What Is Behind the Euro Weakness in 1999-2000?

Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - Institut für Weltwirtschaft (IfW) - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10005700511

Inflation Differentials in the Euro Area and Their Determinants - An Empirical View

Zdárek, Václav; Aldasoro, Juan Ignacio - Institut für Weltwirtschaft (IfW) - 2009

In this paper, we present evidence on the statistical features of observed dispersion in HICP inflation rates in the … Euro area. Our descriptive exercise shows that there is still a remarkable dispersion of HICP inflation rates across the … main source of dispersion in countries’ headline inflation rates is in those components of the HICP where non-traded goods …

Persistent link: https://www.econbiz.de/10005818771

The Price-Price Phillips Curve in Small Open Economies and Monetary Unions: Theory and Empirics

Vaona, Andrea - Institut für Weltwirtschaft (IfW) - 2014

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

Persistent link: https://www.econbiz.de/10010886968