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Chinese Exchange Rate Policy : Lessons for Global Investors
Melvin, Michael - 2020
Chinese currency policy has had a strong impact on the value of investors' portfolios in recent years. On August 11, 2015, the People's Bank of China announced a new exchange rate policy where the RMB central parity rate against the USD would be determined each morning by the previous day's...
Persistent link: https://www.econbiz.de/10012825386
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The Impacts of the Dollar-Renminbi Exchange Rate Misalignment on the China-United States Commodity Trade : An Asymmetric Analysis
Ferjani, Sabrine; Saafi, Sami; Nouira, Ridha; Rault, … - 2022
Contrary to most existing studies of the literature that assumed that the effects of real exchange rate (RE) misalignment on trade flows are symmetric, this paper considers a more general and realistic framework allowing for possible asymmetric effects. We use monthly time-series data over the...
Persistent link: https://www.econbiz.de/10013291707
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Nominal and real exchange rate models in South Africa: How robust are they?
Egert, Balazs - 2012
This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...
Persistent link: https://www.econbiz.de/10010283582
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How Economic, Political and Institutional Factors Influence the Choice of Exchange Rate Regimes? New Evidence from Selected Countries of the MENA Region
Maraoui, Nejia; Amor, Thouraya Hadj; Khefacha, Islem; … - 2022
In this paper, we investigate how economic, political and institutional factors affect the choice of exchange rate regimes, using data on eight MENA (Middle East and North Africa) countries over the 1984-2016 period. Specifically, we run random-effects ordered probit regressions of the...
Persistent link: https://www.econbiz.de/10013291704
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan
Schnabl, Gunther; Danne, Christian - 2021
Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary policy after the shift of Japan from a fixed to a...
Persistent link: https://www.econbiz.de/10013316946
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On the Exchange Rate and Economic Policy Uncertainty Nexus : A Panel VAR Approach for Emerging Markets
Abid, Abir - 2020
We examine the Exchange Rate Volatility (ERV) response to the Economic Policy Uncertainty (EPU) shocks from a panel VAR perspective used for the first time in this context. Focusing on Emerging Market Economies (EME), our noteworthy findings postulate that (a) both home and foreign EPU shocks...
Persistent link: https://www.econbiz.de/10012837681
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A Note on Temporary Supply Shocks with Aggregate Demand Inertia
Caballero, Ricardo J.; Simsek, Alp - 2022
aggregate demand gains momentum. If inflation also has inertia, the central bank still overheats the economy during the low …
Persistent link: https://www.econbiz.de/10013282457
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A Monetary Equilibrium with the Lender of Last Resort
Matsuoka, Tarishi; Watanabe, Makoto - 2023
This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of a bank’s monetary reserves (a liquidity crisis) occurs endogenously. We show that discount window lending by the LLR is welfare-improving but reduces banks’ ex-ante incentive to hold monetary...
Persistent link: https://www.econbiz.de/10014356320
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Taxation, corruption and the exchange rate regime
Hefeker, Carsten - 2009
. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …
Persistent link: https://www.econbiz.de/10010264571
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The Eurozone as an Inflation Target Zone
Posta, Pompeo Della; Tamborini, Roberto - 2022
aiming for two per cent inflation over the medium term”, with “symmetric commitment” to this target. “Symmetry means that the … therefore analyse this policy strategy through a model of inflation target zone, with a central value and symmetric upper and … lower bounds on inflation, within which the central bank may decide not to intervene, provided inflation is expected to …
Persistent link: https://www.econbiz.de/10014243104