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Fixed versus Flexible : Lessons from EMS Order Flow

Killeen, William P. - 2001

This paper addresses the puzzle of regime-dependent volatility in foreign exchange. We extend the literature in two … induce volatility under flexible rates because they have portfolio-balance effects on price, whereas under fixed rates the …

Persistent link: https://www.econbiz.de/10012470227

Exchange Rate Volatility and Global Food Supply Chains

Steinbach, Sandro - National Bureau of Economic Research - 2021

between exchange rate volatility and international trade flows. I contribute to the ongoing debate by investigating the … and estimate the trade effects of short-run and long-run exchange rate volatility. My findings indicate significant …-run volatility, these effects vary substantially according to product and industry characteristics. I find a positive association …

Persistent link: https://www.econbiz.de/10012616612

The Macroeconomic Effects of Oil Shocks : Why are the 2000s So Different from the 1970s?

Blanchard, Olivier J. - 2007

We characterize the macroeconomic performance of a set of industrialized economies in the aftermath of the oil price shocks of the 1970s and of the last decade, focusing on the differences across episodes. We examine four different hypotheses for the mild effects on inflation and economic...

Persistent link: https://www.econbiz.de/10012465282

Estimation of Nonlinear Exchange Rate Dynamics in Evolving Regimes

Frankel, Jeffrey A.; Hou, Yao; Xie, Danxia - National Bureau of Economic Research - 2024

This paper develops a new econometric framework to estimate and classify exchange rate regimes. They are classified into four distinct categories: fixed exchange rates, BBC (band, basket and crawl), managed floating, and freely floating. The procedure captures the patterns of exchange rate...

Persistent link: https://www.econbiz.de/10014635607

Exchange Rates and Financial Fragility

Eichengreen, Barry - 1999

In this paper we analyze three views of the relationship between the exchange rate and financial fragility: (1) the moral hazard hypothesis, according to which pegged exchange rates offer implicit insurance against exchange risk and thereby encourage reckless borrowing and lending; (2) the...

Persistent link: https://www.econbiz.de/10012471363

The Limited Viability of Dual Exchange-Rate Regimes

Frenkel, Jacob A. - 1986

This paper examines the viability of dual exchange-rate regimes. Typically, under such a regime the exchange rates applicable to current-account(commercial) transactions and to capital-account (financial) transactions differ from each other. This difference may be determined in the free market...

Persistent link: https://www.econbiz.de/10012477173

Exchange Rate Flexibility and the Transmission of Business Cycles

de Macedo, Jorge Braga - 1985

This paper presents a very simple model of the effects of flexible exchange rates in the transmission of business cycles. The starting point is the traditional "locomotive" effect, through exports and imports. Aside from this horizontal transmission, the intertemporal exchange rate model...

Persistent link: https://www.econbiz.de/10012477511

International Risk Sharing and the Choice of Exchange-Rate Regime

Hsieh, David A. - 1982

This paper examines the argument that the fixed exchange rate regime should be preferred to the flexible rate regime because the former allows risk sharing across countries while the latter does not. The analysis is performed in a two-country overlapping generations model, where markets are...

Persistent link: https://www.econbiz.de/10012478269

Flexible Exchange Rates in the 1970's

Frenkel, Jacob A. - 1980

the foreign exchange market and the degree of exchange rates volatility. The analytical framework emphasizes that exchange …

Persistent link: https://www.econbiz.de/10012478695

Assessing China's Exchange Rate Regime

Frankel, Jeffrey A. - 2007

This paper examines two related issues: (a) the implicit methodology used by the U.S. Treasury in determining whether China and America's other trading partners manipulate their exchange rates, and (b) the nature of the Chinese exchange rate regime since July 2005. On the first issue, we...

Persistent link: https://www.econbiz.de/10012465554

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