Narrow search
Showing 1 - 10 of 336
Cover Image
Welfare effects of monetary integration : the common monetary area and beyond
Asonuma, Tamon; Debrun, Xavier; Masson, Paul R. - 2012
array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i …) participating in the CMA benefits all members; (ii) joining the CMA individually is beneficial for all SADC members except Angola … terms of foregone anti-inflationary credibility; and (iv) SADC-wide symmetric monetary union contin …
Persistent link: https://www.econbiz.de/10009615868
Cover Image
Can Regional Integration Accelerate Development in Africa? : CGE Model Simulations of the Impact of the SADC FTAon the Republic of Madagascar
Hallaert, Jean-Jacques - 2007
2007. This paper uses a CGE model to evaluate the impact of the SADC FTA on Madagascar economy. The results suggest that … the SADC FTA would only have a limited impact on Madagascar''s real GDP because the liberalization affects only a small …. Gains from the SADC FTA become substantial only when the regional liberalization is accompanied by a multilateral …
Persistent link: https://www.econbiz.de/10014400346
Cover Image
Welfare Effects of Monetary Integration : The Common Monetary Area and Beyond
Asonuma, Tamon - 2012
array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i …) participating in the CMA benefits all members; (ii) joining the CMA individually is beneficial for all SADC members except Angola … terms of foregone anti-inflationary credibility; and (iv) SADC-wide symmetric monetary union continues to be beneficial for …
Persistent link: https://www.econbiz.de/10014396540
Cover Image
Comesa and Sadc : Prospects and Challenges for Regional Trade Integration
Khandelwal, Padamja - 2004
Community (SADC). It finds that possibilities of growth in intraregional trade may be limited, but that the two arrangements …
Persistent link: https://www.econbiz.de/10014404108
Cover Image
The macroeconomic impact of foreign exchange intervention : some cross-country empirical findings
Jin, Zhongxia; Wang, Haobin; Zhao, Yue - 2021
Based on VAR analyses across 26 countries, we show that, although foreign exchange intervention (FXI) is effective in stabilizing the nominal exchange rate in the short run, its impacts on the real exchange rate are less significant: Limitations on nominal exchange rate flexibility may induce...
Persistent link: https://www.econbiz.de/10012613705
Cover Image
U.S. dollar currency premium in corporate bonds
Caramichael, John; Gopinath, Gita; Liao, Gordon Y. - 2021
We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o utside t he U .S. a nd e uro a rea. We make s everal empirical observations that dissect the perceived advantage of borrowing in the dollar. First, while the dollar dominates...
Persistent link: https://www.econbiz.de/10012605639
Cover Image
Destabilizing stability? : exchange rate arrangements and foreign currency debt
Csonto, Balazs; Gudmundsson, Tryggvi - 2020
Emerging markets (EMs) often respond to shocks by intervening in foreign exchange (FX) markets and thus preventing full exchange rate adjustment. This response can serve to dampen the effect of shocks and increase monetary policy space but may also incentivize economic participants to increase...
Persistent link: https://www.econbiz.de/10012301949
Cover Image
Patterns of foreign exchange intervention under inflation targeting
Adler, Gustavo; Chang, Kyun Suk; Wang, Zijiao - 2020
The paper documents the use of foreign exchange intervention (FXI) across countries and monetary regimes, with special attention to its use under inflation targeting (IT). We find significant differences between advanced and emerging market economies, with the former group conducting FXI...
Persistent link: https://www.econbiz.de/10012251394
Cover Image
FX intervention to stabilize or manipulate the exchange rate? : inference from profitability
Sandri, Damiano - 2020
We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is used to stabilize the exchange rate in the face of temporary excessive movements...
Persistent link: https://www.econbiz.de/10012251968
Cover Image
China's evolving exchange rate regime
Das, Sonali - 2019
China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de...
Persistent link: https://www.econbiz.de/10012009461