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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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Nominal Exchange Rate Flexibility and Real Exchange Rate Adjustment : Evidence from Dual Exchange Rates in Developing Countries
Cheung, Yin-Wong; Lai, Kon S. - 2021
This study investigates whether greater nominal exchange rate flexibility aids real exchange rate adjustment based on data from dual exchange rates in developing countries. Specifically, we analyze whether the more flexible parallel market rate produces faster real exchange rate adjustment than...
Persistent link: https://www.econbiz.de/10013318352
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China's Exchange Rate Impasse and the Weak U.S. Dollar
McKinnon, Ronald; Schnabl, Gunther - 2021
excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s …
Persistent link: https://www.econbiz.de/10013316479
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Financial Dollarization and European Union Membership
Neanidis, Kyriakos C. - 2013
We analyze the effect of European Union (EU) membership on financial dollarization for the Central and Eastern European … membership and EU entry have a direct impact on deposit and loan dollarization. EU membership reduces deposit dollarization while … it increases loan dollarization. The negative effect on deposit dollarization captures the increased confidence of the …
Persistent link: https://www.econbiz.de/10013094571
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Pegxit Pressure : Evidence from the Classical Gold Standard
Mitchener, Kris James - 2017
We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on...
Persistent link: https://www.econbiz.de/10012965714
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Pegging the Renminbi to a Basket – Facts, Prospects and Consequences
Oksanen, Heikki - 2013
On 19 June 2010 the Chinese authorities announced that the renminbi (RMB) was henceforth to be pegged to a currency basket. Yet, it has quite closely followed the USD, though having appreciated by 2.7% by the time of writing. At the G20 Seoul Summit on 11-12 November 2010, China committed to...
Persistent link: https://www.econbiz.de/10013094115
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Exchange Rate Pass-Through, Domestic Competition, and Inflation : Evidence from the 2005/08 Revaluation of the Renminbi
Auer, Raphael - 2015
import prices only to a small extent, it may have a substantial impact on inflation, as it exerts a sizeable impact on the …
Persistent link: https://www.econbiz.de/10013037032
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Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe
Grauwe, Paul De; Schnabl, Gunther - CESifo - 2004
This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European … exchange rate stability have a better explanatory power than the de jure measures in the inflation and growth equations. For … the whole observation period the estimations reveal a significant impact of exchange rate stability on low inflation as …
Persistent link: https://www.econbiz.de/10005766042
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Nominal and Real Exchange Rate Models in South Africa: How Robust are they?
Egert, Balazs - CESifo - 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/10010554826
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Foreign Currency Denominated Assets and International Shock Absorption in Switzerland and Japan
Schnabl, Gunther - 2015
Currencies of countries with persistent current account surpluses and high foreign currency denominated assets such as the Swiss franc and Japanese yen are under a persistent appreciation pressure, what restricts the degree of freedom in the choice of exchange rate regime. Official announcements...
Persistent link: https://www.econbiz.de/10013009766