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Measuring Oil-Price Shocks Using Market-Based Information
Wu, Tao; Cavallo, Michele - International Monetary Fund (IMF) - 2012
shocks that avoid endogeneity and predictability concerns. Estimation results indicate that oil-price shocks have had …
Persistent link: https://www.econbiz.de/10009650637
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Yemen; Exchange Rate Policy in the Face of Dwindling Oil Exports
Schneider, Todd; Ltaifa, Nabil Ben; Ahmed, Faisal; … - International Monetary Fund (IMF) - 2007
This paper investigates the likely implications of declining oil production on Yemen's equilibrium exchange rate, and discusses policy options to ensure a smooth transition to a nonoil economy. The empirical results suggest that, as oil production and foreign exchange earnings fall, the Yemeni...
Persistent link: https://www.econbiz.de/10005825640
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Diagnosing Dutch Disease; Does Russia Have the Symptoms?
Kalcheva, Katerina; Oomes, Nienke - International Monetary Fund (IMF) - 2007
In this paper, we assess whether recent economic developments in Russia are symptomatic of Dutch Disease. We first provide a brief review of the literature on Dutch Disease and the natural resource curse. We then discuss the symptoms of Dutch Disease, which include (1) real exchange rate...
Persistent link: https://www.econbiz.de/10005826454
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Czech Koruna and Polish Zloty Currency Options; Information Contnent and Eu-Accession Implications
Morales, Armando Méndez - International Monetary Fund (IMF) - 2000
Currency option implied volatility predicts more efficiently exchange rate volatility for the Polish zloty relative to … GARCH model shows a positive impact of the introduction of the Euro on exchange rate volatility for the Polish zloty …
Persistent link: https://www.econbiz.de/10005248136
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Empirical Exchange Rate Models of the Nineties; Are Any Fit to Survive?
Cheung, Yin-Wong; Pascual, Antonio Garcia; Chinn, … - International Monetary Fund (IMF) - 2004
We reassess exchange rate prediction using a wider set of models that have been proposed in the last decade. The performance of these models is compared against two reference specifications-purchasing power parity and the sticky-price monetary model. The models are estimated in first-difference...
Persistent link: https://www.econbiz.de/10005263978
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Oil and Growth in the Republic of Congo
Ghura, Dhaneshwar; Bhattacharya, Rina - International Monetary Fund (IMF) - 2006
results also show that fiscal discipline is beneficial for growth. In addition, there are strong linkages between world oil …
Persistent link: https://www.econbiz.de/10005826404
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Global Volatility and Forex Returns in East Asia
Kalra, Sanjay - International Monetary Fund (IMF) - 2008
During 2001-07, increases in mature market volatility were associated with declines in forex returns for East Asian … increase in mature market equity volatility generated an exchange rate depreciation of up to ½ percent. This sensitivity rose …" volatility in forex markets. Long-run forex volatility declined as Asian economies settled down with generally stronger …
Persistent link: https://www.econbiz.de/10005605210
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Yen Bloc or Yuan Bloc; An Analysis of Currency Arrangements in East Asia
Shirono, Kazuko - International Monetary Fund (IMF) - 2009
This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of … generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall …, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue …
Persistent link: https://www.econbiz.de/10005826046
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The U.S. Manufacturing Recovery: Uptick or Renaissance?
Celasun, Oya; Bella, Gabriel Di; Mahedy, Tim; … - International Monetary Fund (IMF) - 2014
The notable rebound of U.S. manufacturing activity following the Great Recession has raised the question of whether the sector might be experiencing a renaissance. Using panel regressions, we find that a depreciating real exchange rate, an increasing spread in natural gas prices between the...
Persistent link: https://www.econbiz.de/10010790239
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Trinidad and Tobago; Selected Issues
International Monetary Fund (IMF); International … - 2007
This Selected Issues paper analyzes medium-term fiscal sustainability in Trinidad and Tobago. The paper focuses on the challenge of distributing the nonrenewable resource wealth across generations. Its recommendations are geared toward the goal of intergenerational distribution and therefore...
Persistent link: https://www.econbiz.de/10011244257