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Transactions Costs and Vehicle Currencies
International Monetary Fund - 1989
, monetary and fiscal issues, global liquidity, and national and international economic developments …
Persistent link: https://www.econbiz.de/10014396025
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Exchange Arrangements and Foreign Exchange Markets : Developments and Issues
International Monetary Fund - 2003
of the international monetary system. The use of exchange controls appears to have been little influenced by the degree …
Persistent link: https://www.econbiz.de/10014404579
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Floating Currencies, Gold, and SDR's : Some Recent Legal Developments
International Monetary Fund - 1976
This paper outlines legal developments related to floating currencies, gold, and special drawing rights (SDRs) in the IMF. The Articles of the Fund require each member to establish a par value for its currency in terms of gold as a common denominator. Alternatively, the par value may be...
Persistent link: https://www.econbiz.de/10014394398
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International Spillovers of Taxiation
International Monetary Fund - 1989
This paper highlights key issues pertinent for the understanding of international effects of domestic tax policies and … of international tax harmonization. The analytical framework adopts the saving-investment balance approach to the … analysis of international economic interdependence focusing on income, consumption, and international borrowing. A simulation …
Persistent link: https://www.econbiz.de/10014396181
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Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market
International Monetary Fund - 1990
This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...
Persistent link: https://www.econbiz.de/10014396173
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Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market
International Monetary Fund - 1990
This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical...
Persistent link: https://www.econbiz.de/10014396182
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Determinants of the Spread in a Two-Tier Foreign Exchange Market
International Monetary Fund - 1988
The literature on two-tier foreign exchange markets has concentrated on relating various shocks to the spread between the exchange rates relevant to the two tiers of the exchange market. In some earlier work we found that none of the typical predictions of theory held up empirically as BLEU...
Persistent link: https://www.econbiz.de/10014396229
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Policies for Developing Foreign Exchange Markets
International Monetary Fund - 1988
This paper describes and analyzes forward market systems with varying degrees of sophistication, and it assesses them from the viewpoint of a smaller industrial or developing country asking itself how it could institute such a system, or how it could further develop an existing system in a way...
Persistent link: https://www.econbiz.de/10014399373
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Risk Neutrality and the Two-Tier Foreign Exchange Market : Evidence from Belgium
International Monetary Fund - 1989
In this paper we develop and test a model of a utility maximizing representative agent operating in the Belgium-Luxembourg two-tier foreign exchange market. Our tests examine and fail to reject a risk neutral representative agent utility function. When we combine a risk neutral utility function...
Persistent link: https://www.econbiz.de/10014395812
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Parallel Currency Markets in Developing Countries : Theory, Evidence, and Policy Implications
International Monetary Fund - 1990
The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate...
Persistent link: https://www.econbiz.de/10014395914