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In What Sense Can Intervention ReduceExchange Rate Volatility?

Bleaney, Michael F.; Francisco, Manuela - University <Nottingham> / Department of Economics - 2008

Can pegging reduce real as well as nominal, and multilateral as well as bilateralexchange rate volatility? We …

Persistent link: https://www.econbiz.de/10005868570

What Makes Currencies Volatile?An Empirical Investigation

Bleaney, Michael F.; Francisco, Manuela - University <Nottingham> / Department of Economics - 2008

. Volatility decreases with openness tointernational trade and per capita GDP, and increases with inflation, particularlyunder a …Real effective exchange rate volatility is examined for 90 countries using monthlydata from January 1990 to June 2006 … horizontal peg or band, and with terms-of-trade volatility. The choice ofexchange rate regime matters... …

Persistent link: https://www.econbiz.de/10005868573

Foreign Debt and Fear of Floating:A Theoretical Exploration

Bleaney, Michael F.; Özkan, Gülçin - University <Nottingham> / Department of Economics; New … - 2008

This paper explores the relationship between the denomination ofpublic debt and the choice of exchange rate regime. Unlike indexeddomestic debt, foreign debt is subject to valuation e¤ects from realexchange rate shocks. In a standard set-up, where a peg functions onlyas a nominal anchor, more...

Persistent link: https://www.econbiz.de/10005868594

EXCHANGE RATE REGIMES AND INFLATION –ONLY HARD PEGS MAKE A DIFFERENCE

Bleaney, Michael F.; Manuel Francisco - University <Nottingham> / Department of Economics - 2003

Previous research has suggested that pegged exchange rates are associated withlower inflation than floating rates. In …

Persistent link: https://www.econbiz.de/10005868816

THE AFTERMATH OF A CURRENCY COLLAPSE:HOW DIFFERENT ARE EMERGING MARKETS?

Bleaney, Michael F. - University <Nottingham> / Department of Economics - 2002

In currency crises, unlike in orderly devaluations, the financial markets dominateevents. It is shown that currency collapses (crises followed by depreciations) have hada much greater adverse impact in emerging markets (defined as relatively highincomedeveloping countries exposed to...

Persistent link: https://www.econbiz.de/10005868940

FINANCIAL FRAGILITY AND CURRENCYCRISES

Bleaney, Michael F. - University <Nottingham> / Department of Economics - 2000

The standard model of currency crises is amended to distinguish betweenunemployment aversion and financial fragility. Fragility is assumed to affect theauthorities’ sensitivity to a combination of high real interest rates and unemployment.An increase in fragility expands the region of...

Persistent link: https://www.econbiz.de/10005869186

INFLATION AS TAXATION: THEORY ANDEVIDENCE

Bleaney, Michael F. - University <Nottingham> / Department of Economics - 2000

The theory of seigniorage is surveyed and reviewed. A theoretical model is developedwhich nests optimal tax theory and institutional approaches to fiscal and monetarypolicy...

Persistent link: https://www.econbiz.de/10005869187

RELATIVE PRICE VARIABILITY ANDINFLATION IN EUROPE

Fielding, David; Mizen, Paul - University <Nottingham> / Department of Economics

The relationship between inflation and the relative variability of prices has been the subject ofcareful investigation …

Persistent link: https://www.econbiz.de/10005869301

Mean Reversion of Real Exchange Ratesin High-Inflation Countries

Bleaney, Michael F.; Leybourne, Stephen J.; Mizen, Paul - University <Nottingham> / Department of Economics

episodes of high inflation. We use monthly data for Argentina, Brazil, Chile,Colombia and Israel from 1972 to 1993 and find …

Persistent link: https://www.econbiz.de/10005869305

FUNDAMENTALS AND EXCHANGE RATEVOLATILITY

Bleaney, Michael F. - University <Nottingham> / Department of Economics - 2006

lower real exchangerate volatility... …

Persistent link: https://www.econbiz.de/10005868665