Similar Search Results

Han, Fei - 2019

The yen is an important barometer for the Japanese economy. Depreciations are typically associated with favorable … Japan's efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at … underlying drivers of rapid yen appreciations, highlighting the key role of carry-trade and the zero lower bound as important …

Persistent link: https://www.econbiz.de/10012865836

Financial Versus Monetary Mercantilism : Long-Run View of the Large International Reserves Hoarding

Aizenman, Joshua - 2007

The sizable hoarding of international reserves by several East Asian countries has been frequently attributed to a modern version of monetary mercantilism - hoarding international reserves in order to improve competitiveness. From a long-run perspective, manufacturing exporters in East Asia...

Persistent link: https://www.econbiz.de/10012778074

What Happened to Asian Exports During the Crisis?

Duttagupta, Rupa - 2021

After the large exchange rate depreciations following the 1997 East Asian crisis, export volumes from East Asian countries responded with a notable lag. Two main explanations for this lag have been proposed: that the policy of high interest rates limited access to domestic credit and hence...

Persistent link: https://www.econbiz.de/10013212030

Bank Balance Sheets and External Shocks in Asia : The Role of Fxi, Mpms and Cfms

Chen, Zefeng; Nadeem, Sanaa; Peiris, Shanaka - 2021

In emerging Asia, banks constitute the dominant source of financing consumption and investment, and bank balance sheets comprise large gross FX assets and liabilities. This paper extends the DSGE model of Gertler and Karadi (2011) to incorporate these key features and estimates a panel vector...

Persistent link: https://www.econbiz.de/10013243072

Sectorial Macroeconomic Interdependences : Evidence for Latin America, East Asia and Europe

Loayza, Norman; Lopez, Humberto; Ubide, Angel J. - 2021

This paper analyzes common economic patterns across countries and economic sectors in Latin America, East Asia and Europe for the period 1970-94 by means of an error-components model that decomposes real value added growth in each country into common international effects, sector-specific...

Persistent link: https://www.econbiz.de/10013321390

Deciding to Enter a Monetary Union : Therole of Trade and Financial Linkages

Lama, Ruy - 2012

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from joining the euro. We evaluate two alternative scenarios....

Persistent link: https://www.econbiz.de/10013098569

Welfare Effects of Monetary Integration : The Common Monetary Area and Beyond

Asonuma, Tamon - 2012

This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i) participating in the CMA benefits all members; (ii)...

Persistent link: https://www.econbiz.de/10013102267

Sovereign Risk and Belief-Driven Fluctuations in the Euro Area

Kuester, Keith - 2013

Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary union that accounts for this “sovereign risk channel.” The model is calibrated to the euro...

Persistent link: https://www.econbiz.de/10013071921

The CFA Arrangements - More than Just an Aid Substitute?

Yehoue, Etienne B. - 2007

The CFA franc zone has had one of the longest experiences with a fixed exchange rate for a convertible currency and regional integration of any group of developing countries. France, the anchor country, provides aid to support the zone. This paper asks whether the arrangements are more than just...

Persistent link: https://www.econbiz.de/10012777761

Feer for the Cfa Franc

Abdih, Yasser - 2006

We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to …

Persistent link: https://www.econbiz.de/10012779100

1
2
3
4
5
6
7
8
9
10
Next
Last