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Stabilisation and Rebalancing with Fiscal or Monetary Devaluation : A Model-Based Comparison
Vogel, Lukas - 2015
The paper uses a small open economy general equilibrium model to compare fiscal and nominal exchange rate devaluation with respect to their impact on economic activity and the current account. In particular, it investigates to which extent fiscal devaluation mimics nominal exchange rate...
Persistent link: https://www.econbiz.de/10013009764
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The Signaling Channel of Central Bank Interventions : Modelling the Yen/US Dollar Exchange Rate
Chen, Yu-Fu - 2013
the yen/US dollar dynamics …
Persistent link: https://www.econbiz.de/10013092279
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Japanese Foreign Exchange Intervention and the Yen/Dollar Exchange Rate : A Simultaneous Equations Approach Using Realized Volatility
Hillebrand, Eric T.; Schnabl, Gunther; Ulu, Yasemin - 2021
We use realized volatility to study the influence of central bank interventions on the yen/dollar exchange rate … successful interventions, both in depreciating the yen and in reducing exchange rate volatility …
Persistent link: https://www.econbiz.de/10013317518
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Foreign Currency Denominated Assets and International Shock Absorption in Switzerland and Japan
Schnabl, Gunther - 2015
the Swiss franc and Japanese yen are under a persistent appreciation pressure, what restricts the degree of freedom in the …
Persistent link: https://www.econbiz.de/10013009766
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Competitive Devaluations in Commodity-Based Economies : Colombia and the Pacific Alliance Group
Caporale, Guglielmo Maria - 2016
This paper investigates whether there is an S-Curve in Colombia using bilateral and disaggregated quarterly data for the period 1991-2014. More precisely, the short-run effects of a depreciation on the TB are analysed in 27 industries covered by the PAG Free Trade Agreement. The S-Curve found in...
Persistent link: https://www.econbiz.de/10012988896
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Net Foreign Asset Positions and Appreciation Expectations on the Swiss Franc and the Japanese Yen
Latsos, Sophia - 2015
-currency denominated assets, such as the Swiss franc and the Japanese yen, are under persistent appreciation pressure, particularly when …
Persistent link: https://www.econbiz.de/10013014984
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan
Schnabl, Gunther; Danne, Christian - CESifo - 2007
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 floating exchange rate regime. The econometric estimations allow for regime …
Persistent link: https://www.econbiz.de/10005405989
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The Impact of Yuan Internationalization on the Euro-Dollar Exchange Rate
Bénassy-Quéré, Agnès - 2013
We study the implication of a multipolarization of the international monetary system on cross-currency volatility. More specifically, we analyze whether the internationalization of the yuan could modify the impact of asset supply and trade shocks on the euro-dollar exchange rate, within a...
Persistent link: https://www.econbiz.de/10013085286
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Short-Term and Long-Term Growth Effects of Exchange Rate Adjustment
Kočenda, Evžen - 2013
The European sovereign debt crisis revived the discussion concerning the pros and cons of exchange rate adjustment in the face of asymmetric shocks. Exit from the euro area is to regain rapidly international competitiveness. Exchange rate stability with structural reforms could be beneficial for...
Persistent link: https://www.econbiz.de/10013089423
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Exchange Rate Misalignment - The Case of the Chinese Renminbi
Cheung, Yin-Wong - 2013
Assessing exchange rate misalignment is not an easy task. With reference to the debate on the value of China's currency, the renminbi (RMB), this article highlights a few challenges in properly assessing the extent of currency misalignment. The results derived from the fundamental equilibrium...
Persistent link: https://www.econbiz.de/10013091077