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The role of the yen in the International financial system is reconsidered from a comparative (historical) approach …. Compared with the D-Mark in the postwar years, the limited use of the yen results not so much from regulations on capital … movements as from the structure and behavior of Japanese economy. The history of the pound-sterling and the U.S. dollar reveals …
Persistent link: https://www.econbiz.de/10014398125
Promoting credit services to small and medium-size enterprises (SMEs) has been a perennial challenge for policy makers globally due to high information costs. Recent fintech developments may be able to mitigate this problem. By leveraging big data or digital footprints on existing platforms,...
Persistent link: https://www.econbiz.de/10012391582
is implemented for the real effective exchange rates of the dollar, the mark, and the yen, over the period 1974-1993. In …
Persistent link: https://www.econbiz.de/10014403366
Real exchange rates exhibit important low-frequency fluctuations. This makes the analysis of real exchange rates at all frequencies a more sound exercise than the typical business cycle one, which compares actual and simulated data after the Hodrick-Prescott filter is applied to both. A simple...
Persistent link: https://www.econbiz.de/10014396942
interactions to examine the nominal effective exchange rates of the German mark, Japanese yen, and U.S. dollar for the recent …
Persistent link: https://www.econbiz.de/10014398230
Persistent link: https://www.econbiz.de/10012392487
Persistent link: https://www.econbiz.de/10010389973
During risk-off episodes, the yen is a safe haven currency and on average appreciates against the U.S. dollar. We … investigate the proximate causes of yen risk-off appreciations. We find that neither capital inflows nor expectations of the … future monetary policy stance can explain the yen’s safe haven behavior. In contrast, we find evidence that changes in market …
Persistent link: https://www.econbiz.de/10014394536
financial stability risk due to euroization contribute to deeuroization inasmuch as they make banking intermediation in euro …
Persistent link: https://www.econbiz.de/10011799246
The paper looks at the hypothesis that financial market liberalization can create a basis for more stable exchange rates, as deviations of exchange rates from equilibrium levels bring forth stabilizing flows of liquidity. This ""endogenous liquidity"" hypothesis suggests that opening financial...
Persistent link: https://www.econbiz.de/10014404080