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Persistent link: https://www.econbiz.de/10009486193
their forecasting performance. Based on the evaluation results, a new forecasting framework is developed for GDP projections …
Persistent link: https://www.econbiz.de/10014402206
This paper examines the relevance of PPP, the adjustment channel of real exchange rate and the predictability of the movement in nominal exchange rate by studying the behavior of yen/DM exchange rate, using cointegration method. Results support PPP and find that the real exchange rate is...
Persistent link: https://www.econbiz.de/10014399967
Despite a substantial and prolonged exchange rate depreciation, South Africa's export performance has disappointed since the global financial crisis. In this paper we focus on the role of structural factors in reducing the responsiveness of South African exports to the real exchange rate...
Persistent link: https://www.econbiz.de/10011435831
Much recent analysis of international monetary and fiscal policy issues, such as the choice of an exchange-rate regime or the design of a policy coordination scheme, has been conducted by stochastic simulations with multicountry econometric models. In these studies, it has become standard...
Persistent link: https://www.econbiz.de/10014398123
Based on the experience of budget management reforms that have been introduced over the last two decades in a large number of member countries of the Organization for Economic Cooperation and Development (OECD) it is not uncommon to find emerging market economies moving toward performance-based...
Persistent link: https://www.econbiz.de/10014401133
This paper examines the performance of emerging market bank stocks around the time of rating changes by major international agencies. The data suggest that downgrades on average have followed periods of negative cumulative abnormal returns for banks, although upgrades have not followed periods...
Persistent link: https://www.econbiz.de/10014400871
Compared with the case of central bank independence, independence for financial sector supervisors remains more controversial. This paper analyzes changes in independence and accountability arrangements in a set of 32 countries that overhauled their legal and/or institutional frameworks for...
Persistent link: https://www.econbiz.de/10014403026
, and volatility in the remittance-sending country …
Persistent link: https://www.econbiz.de/10012252729
volatility. The paper provides an overview of the recent developments in the conventional debt market. It builds an empirical two … that nonresident flows are behind the observed exchange rate volatility. The results suggest that the public debt market in … Malaysia responds adequately to both pull and push factors and find no firm evidence that nonresident flows cause volatility in …
Persistent link: https://www.econbiz.de/10012001596