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Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage
International Monetary Fund - 2005
This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …
Persistent link: https://www.econbiz.de/10014399797
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Exchange Rate Volatility and World Trade
International Monetary Fund - 1984
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...
Persistent link: https://www.econbiz.de/10014406218
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Remoteness and Real Exchange Rate Volatility
International Monetary Fund - 2005
This paper examines the impact of trade costs on real exchange rate volatility. The channel is examined by constructing … higher trade costs result in a larger nontradable sector. This, in turn, leads to higher real exchange rate volatility. We …
Persistent link: https://www.econbiz.de/10014404193
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Macrofinance Model of the Czech Economy : Asset Allocation Perspective
International Monetary Fund - 2012
The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields …
Persistent link: https://www.econbiz.de/10014396906
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Short-Term Wholesale Funding and Systemic Risk : A Global Covar Approach
International Monetary Fund - 2012
In this paper we identify some of the main factors behind systemic risk in a set of international large-scale complex banks using the novel CoVaR approach. We find that short-term wholesale funding is a key determinant in triggering systemic risk episodes. In contrast, we find no evidence that a...
Persistent link: https://www.econbiz.de/10014396950
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The Transmission Mechanism in Armenia : New Evidence from a Regime Switching VAR Analysis
International Monetary Fund - 2010
structural break by employing a Markov-Switching VAR framework. Results support the existence of such a structural break around …
Persistent link: https://www.econbiz.de/10014403230
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Increasing Resilience to Large and Volatile Capital Flows : The Role of Macroprudential Policies
International Monetary Fund - 2017
Capital flows can deliver substantial benefits for countries, but also have the potential to contribute to a buildup of systemic financial risk. Benefits, such as enhanced investment and consumption smoothing, tend to be greater for countries whose financial and institutional development enables...
Persistent link: https://www.econbiz.de/10014408642
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Increasing Resilience to Large and Volatile Capital Flows : The Role of Macroprudential Policies
International Monetary Fund - 2017
Persistent link: https://www.econbiz.de/10014408670
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Exchange Rate Volatility and Trade Flows : Some New Evidence
International Monetary Fund - 2004
Persistent link: https://www.econbiz.de/10014409758
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Managing Volatility in Low-Income Countries : The Role and Potential for Contingent Financial Instruments
International Monetary Fund - 2011
The paper examines the case for contingent financial instruments for low-income countries (LICs), from both the market and official sector. These include commodity price hedging instruments, contingent debt instruments (commodity-linked bonds, deferred repayment loans), and natural disaster...
Persistent link: https://www.econbiz.de/10014410218