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Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? This study evaluates within a game-theoretic framework the exchange rate regime from a welfare perspective. In a tradable-nontradable goods model framework, Tunisia’s exchange rate regime...
Persistent link: https://www.econbiz.de/10005784612
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollareuro exchange rate on...
Persistent link: https://www.econbiz.de/10008529003
Yuan real effective exchange rate misalignment is esitimated in a behavioral equilibrium exchange rate (BEER) model for the period 1997 to third quarter 2007. Using the Beveridge-Nelson decomposition a vector error correction model (VECM) of the exchange rate as a function of macroeconomic...
Persistent link: https://www.econbiz.de/10008529011
In this paper, we examine the determinants of inflation differentials in a panel of the newEuropean Union member states vis-à-vis the euro area in 1997-2007. Our main results are as follows. Exchange rate appreciation and higher price level in the new EU members is associated with narrower...
Persistent link: https://www.econbiz.de/10008529013
We examine the effects of the Czech National Bank communication, macroeconomic news and interest rate differential on exchange rate volatility using generalized autoregressive conditional heteroscedasticity model. Our results suggest that central bank communication has a calming effect on...
Persistent link: https://www.econbiz.de/10008529015
In this paper, we present evidence on the statistical features of observed dispersion in HICP inflation rates in the Euro area. Our descriptive exercise shows that there is still a remarkable dispersion of HICP inflation rates across the member countries. We find that most of dispersion...
Persistent link: https://www.econbiz.de/10008529024
This paper investigates the relative costs and benefits associated with introducing a different exchange rate regime in the Republic of Macedonia. In this finding, all econometrics results, using different methodologies (SVAR and VECM), show that introducing a different strategy of the exchange...
Persistent link: https://www.econbiz.de/10010545920
unemployed workers in transitional Russia. We use pooled data from rounds 5-9 of the Russia Longitudinal Monitoring Survey (RLMS … areas of Moscow and St. Petersburg varies substantially from the behavior of workers living in other regions of Russia. The … most frequently used search strategy in Russia, as in other countries, is contacting friends and relatives for job leads. …
Persistent link: https://www.econbiz.de/10005489879
, Poland, Hungary and Russia during the late 1980s to the early 1990s. The four main findings are: 1) There is evidence of some … of demand grew over the transition, starting from zero in Russia, the Czech Republic and Slovakia and from sizeable … similar and those for Russia had not changed significantly; 3) Once other factors are controlled for, there is no significant …
Persistent link: https://www.econbiz.de/10005489908
Both Western and Soviet estimates of GNP growth in the USSR indicate that GNP per capita grew in every decade – sometimes rapidly – from 1928 to 1985. While this measure suggests that the standard of living improved in the USSR throughout this period, it is unclear whether this economic...
Persistent link: https://www.econbiz.de/10005651487