Narrow search
Showing 1 - 10 of 1,657
Cover Image
Illegal Trade in the Iranian Economy : Evidence from a Structural Model
Farzanegan, Mohammad Reza - 2008
This study investigates the main causes and consequences of import and export smuggling and estimates the relative index of smuggling in Iran from 1970 to 2002. The Multiple Indicators - Multiple Causes (MIMIC) econometric modelling is used for a comprehensive analysis of the latent variable of...
Persistent link: https://www.econbiz.de/10012770261
Cover Image
Gotcha! A Profile of Smuggling in International Trade
Berger, Helge; Nitsch, Volker - 2021
This paper explores official trade data to identify patterns of smuggling in international trade. Our main measure of interest is the difference in matched partner trade statistics, i.e., the extent to which the recorded export value in the source country deviates from the reported import value...
Persistent link: https://www.econbiz.de/10013316439
Cover Image
The Democratic Window of Opportunity : Evidence from Riots in Sub-Saharan Africa
Aidt, Toke Skovsgaard - 2014
We show that drought-induced changes in the intensity of riots lead to moves towards democracy in sub-Saharan Africa, and that these changes are often a result of concessions made as a result of the riots. This provides evidence that low-intensity conflict can have a substantial short-run impact...
Persistent link: https://www.econbiz.de/10013050460
Cover Image
Spatial Concentration of Military Dictatorships in Sub-Saharan Africa (1977-2007)
Caruso, Raul - 2014
We empirically investigate the existence of spatial autocorrelation between military dictatorships in Sub-Saharan Africa from 1977 through 2007. We apply a Bayesian SAR probit regression, extended to a pooled model. We find a robust and positive spatial autocorrelation coefficient, which shows a...
Persistent link: https://www.econbiz.de/10013052067
Cover Image
Bank of England Interest Rate Announcements and the Foreign Exchange Market
Melvin, Michael - 2013
Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We examine evidence of systematic patterns in exchange rate movements on MPC days over the first decade of operation of the MPC. Daily data reveal significant differences in...
Persistent link: https://www.econbiz.de/10013096000
Cover Image
The Impact of Macro News and Central Bank Communication on Emerging European Forex Markets
Égert, Balázs - 2013
We employ two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal equilibrium exchange rate based on a monetary model....
Persistent link: https://www.econbiz.de/10013079876
Cover Image
Modeling Optimism and Pessimism in the Foreign Exchange Market
De Grauwe, Paul; Rovira Kaltwasser, Pablo - 2021
In this paper we model how the existence of different beliefs about the underlying fundamental value of a currency affects the dynamics of the exchange rate. We find that a divergence of beliefs creates the potential for waves of optimism and pessimism that alternate in an unpredictable way....
Persistent link: https://www.econbiz.de/10013317108
Cover Image
Volatility Transmission in Emerging European Foreign Exchange Markets
Bubak, Vit - 2013
This paper studies the dynamics of volatility transmission between Central European currencies and euro/dollar foreign exchange using model-free estimates of daily exchange rate volatility based on intraday data. We formulate a flexible yet parsimonious parametric model in which the daily...
Persistent link: https://www.econbiz.de/10013094673
Cover Image
The Crisis in the Foreign Exchange Market
Melvin, Michael - 2013
The financial crisis of 2007-2008 had major implications for the foreign exchange market. We review events and implications for exchange rates, volatility, returns to currency investing, and transaction costs. This “blow-by-blow” narrative is intended to be a resource for researchers seeking...
Persistent link: https://www.econbiz.de/10013095774
Cover Image
Financial Frictions and Inflation Differentials in a Monetary Union
Hristov, Nikolay - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …
Persistent link: https://www.econbiz.de/10013136243