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A consistent set of multilateral productivity approach-based indicators of price competitiveness – Results for Pacific Rim economies
Fischer, Christoph; Hossfeld, Oliver - In: Journal of International Money and Finance 49 (2014) PA, pp. 152-169
We propose a novel, multilaterally consistent productivity approach-based indicator to assess the international price competitiveness of 57 industrialized and emerging economies. It is designed to be a useful assessment tool for monetary policy authorities and, thereby, differs from previously...
Persistent link: https://www.econbiz.de/10011077092
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On the distribution of exchange rate regime treatment effects on international trade
Dorn, Sabrina; Egger, Peter - In: Journal of International Money and Finance 53 (2015) C, pp. 75-94
This paper provides evidence of heterogeneous treatment effects on trade for six different types of exchange rate regime transitions, utilizing data on 218,643 country-pair-year observations all together. Previous research mainly focused on the currency union effect on trade and widely assumed...
Persistent link: https://www.econbiz.de/10011263955
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Duration of fixed exchange rate regimes in emerging economies
Tamgac, Unay - In: Journal of International Money and Finance 37 (2013) C, pp. 439-467
This paper examines the duration of fixed exchange rate regimes and investigates whether there is a certain pattern of time dependence in the survival rate of pegged exchange rate regimes for emerging economies. We query why some fixed regimes last longer and determine the macroeconomic, social...
Persistent link: https://www.econbiz.de/10010709324
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The relationship between investment and large exchange rate depreciations in dollarized economies
Carranza, Luis; Galdon-Sanchez, Jose E.; … - In: Journal of International Money and Finance 30 (2011) 7, pp. 1265-1279
We use a simple financial friction in an economy with high degree of liability dollarization – and currency mismatch – to show that the negative balance-sheet effect of an exchange rate depreciation may be observable only if the magnitude of the depreciation is large enough. This result...
Persistent link: https://www.econbiz.de/10011048488
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Are consistent pegs really more prone to currency crises?
Esaka, Taro - In: Journal of International Money and Finance 44 (2014) C, pp. 136-163
This paper evaluates the treatment effect of consistent pegs (i.e., a policy in which countries actually adopt announced pegged regimes) on the occurrence of currency crises to examine whether consistent pegs are indeed more prone to currency crises than other regimes. Using matching estimators...
Persistent link: https://www.econbiz.de/10011048502
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The offshore renminbi exchange rate: Microstructure and links to the onshore market
Cheung, Yin-Wong; Rime, Dagfinn - In: Journal of International Money and Finance 49 (2014) PA, pp. 170-189
The offshore renminbi (CNH) exchange rate is the exchange rate of the Chinese currency transacted outside China. We study the CNH exchange rate dynamics and its links with onshore exchange rates (CNY). Using a specialized microstructure dataset, we find that CNH is significantly affected by its...
Persistent link: https://www.econbiz.de/10011077097
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Has the euro affected the choice of invoicing currency?
Ligthart, Jenny E.; Werner, Sebastian E.V. - In: Journal of International Money and Finance 31 (2012) 6, pp. 1551-1573
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … invoicing after the introduction of the euro, whereas the home currency share of non-eurozone countries fell slightly. In … addition, the euro as a vehicle currency has overtaken the role of the US dollar in Norwegian imports. The substantial rise in …
Persistent link: https://www.econbiz.de/10010869452
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The multiscale causal dynamics of foreign exchange markets
Bekiros, Stelios; Marcellino, Massimiliano - In: Journal of International Money and Finance 33 (2013) C, pp. 282-305
respect to the US dollar of the most widely traded currencies, namely Euro, Great Britain Pound and Japanese Yen. The …. The examined period starts from the introduction of the Euro and covers the dot-com bubble, the financial crisis of 2007 …
Persistent link: https://www.econbiz.de/10010636239
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International transmission of financial shocks in an estimated DSGE model
Alpanda, Sami; Aysun, Uluc - In: Journal of International Money and Finance 47 (2014) C, pp. 21-55
the high correlation between the U.S. and Euro Area macroeconomic variables. Allowing for an ad hoc, cross …
Persistent link: https://www.econbiz.de/10010906597
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The importance of the exchange rate regime in limiting current account imbalances in sub-Saharan African countries
Gnimassoun, Blaise - In: Journal of International Money and Finance 53 (2015) C, pp. 36-74
One of the major current concerns of economic policy in developing countries is the choice of the appropriate exchange rate regime to consolidate and accelerate the pace of economic growth. This paper aims to investigate whether the choice of a country's exchange rate regime may affect current...
Persistent link: https://www.econbiz.de/10011263956