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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/10011392516

The transition economies : a NATREX evaluation of research

Stein, Jerome L. (contributor) - 2005

This paper applies the NATREX model of equilibrium exchange rates to evaluate several key studies of the Central and Eastern European Countries (CEEC) in general, with particular emphasis upon the Czech Republic and Hungary and with references to Poland and Bulgaria. On the basis of the NATREX...

Persistent link: https://www.econbiz.de/10002757464

China's exchange rate impasse and the weak U.S. dollar

McKinnon, Ronald I. (contributor); … - 2008

Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one-way bet has led to a loss of domestic monetary control. Combined with a more general flight from the U.S. dollar, the resulting monetary explosion in China...

Persistent link: https://www.econbiz.de/10003749649

Japan's imbalance of payments

Müller-Plantenberg, Nikolas - 2003

During the past three decades, Japan s current account experienced five large swings. The yen appreciated considerably in periods when the current account boomed, and it depreciated whenever Japan s external performance weakened. However, there has always been a certain lag in the adjustment of...

Persistent link: https://www.econbiz.de/10011404619

The impact of macro news and central bank communication on emerging European forex markets

Égert, Balázs; Kočenda, Evžen - 2013

news and communication along with the estimated exchange rate misalignment on exchange rate as well as its volatility …

Persistent link: https://www.econbiz.de/10009764449

Oil prices, exchange rates and interest rates

Kilian, Lutz; Zhou, Xiaoqing - 2019

There has been much interest in the relationship between the price of crude oil, the value of the U.S. dollar, and the U.S. interest rate since the 1980s. For example, the sustained surge in the real price of oil in the 2000s is often attributed to the declining real value of the U.S. dollar as...

Persistent link: https://www.econbiz.de/10011966739

Energy contagion analysis : a new perspective with application to a small petroleum economy

Mahadeo, Scott M. R.; Heinlein, Reinhold; Legrenzi, … - 2018

-skewness, and co-volatility contagion tests. Our analysis is applied to the oil-exchange rate and oil-stock market relationships of … and turbulent oil price volatility episodes with a non-hierarchical k-means clustering algorithm on volatility measures …

Persistent link: https://www.econbiz.de/10011922053

Can time-varying currency risk hedging explain exchange rates?

Bräuer, Leonie; Hau, Harald - 2022

Over the last decade foreign bond portfolio positions in US dollar assets have risen above the reciprocal US investor positions in foreign currencies. In periods of increased economic uncertainty, institutional investors hedge their international bond positions, which creates a net hedging...

Persistent link: https://www.econbiz.de/10013440410

Total, asymmetric and frequency connectedness between oil and forex markets

Baruník, Jozef; Kočenda, Evžen - 2019

that divergence in monetary policy regimes affects forex volatility spillovers but that adding oil to a forex portfolio … shocks dominate forex volatility connectedness, positive shocks prevail when oil and forex markets are assessed jointly …

Persistent link: https://www.econbiz.de/10012035050

Sources of real exchange rate volatility and international financial integration : a dynamic GMM panel approach

Caporale, Guglielmo Maria; Hadj Amor, Thouraya; Rault, … - 2011

The aim of this paper is to provide some new empirical evidence on the determinants of volatility of real exchange … grouped into three regions (Latin America, Asia and MENA). Our findings suggest that different types of shocks (external, real … and monetary) can account for volatility of real exchange rates in emerging economies, with international financial …

Persistent link: https://www.econbiz.de/10009378390