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International reserves in the era of quasi-world money
Labrinidis, George - Volkswirtschaftliche Fakultät, … - 2014
The purpose of this paper is to contribute to the discussion on the modern monetary arrangements from a Marxist perspectives, following the recent developments of the Marxist theory of world money. The paper treats the US Dollar as a primus inter pares quasi-world money and challenges the...
Persistent link: https://www.econbiz.de/10011251891
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Deviation from Purchasing Power Parity: Evidence from Malaysia, 1973–1997
Goh, Soo Khoon; Mithani, Dawood - Volkswirtschaftliche Fakultät, … - 2000
This paper presents an empirical test of Purchasing Power Parity (PPP) applied to the Malaysia ringgit for the period from 1973 (CPI) and 1984 (WPI) to 1997. Consistent with other research findings, it is detected that real exchange rate follows a random walk. Using multivariate cointegration...
Persistent link: https://www.econbiz.de/10011259598
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Capital mobility in the Caucasus
Jamilov, Rustam - Volkswirtschaftliche Fakultät, … - 2012
-series econometrics in order to capture the short-run dynamics. Then, we construct a panel of 6 countries of the Caucasus – Azerbaijan …, Armenia, Georgia, Kazakhstan, Russia, and Turkey – and obtain the long-run estimates by applying a panel cointegration …
Persistent link: https://www.econbiz.de/10011260791
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J-Curve Dynamics and the Marshall-Lerner Condition: Evidence from Azerbaijan
Jamilov, Rustam - Volkswirtschaftliche Fakultät, … - 2011
suggest that a real depreciation of the Azerbaijani Manat would cause a decline in the balance of trade in the short-run and … shows that the terms of trade ratio diminishes following the devaluation and does not return to its pre-depreciation level … in the long-run, while the balance of trade continues to improve. This points at the presence of an underlying volume …
Persistent link: https://www.econbiz.de/10009650023
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The single global currency - common cents for the world (2008 Edition)
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2009
people of different currency areas to trade. That system has become far more sophisticated in the meantime and handles $3 …
Persistent link: https://www.econbiz.de/10005835646
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Régimes de change: Le chemin vers la flexibilité
Sfia, Mohamed Daly - Volkswirtschaftliche Fakultät, … - 2007
Nous cherchons dans le sillage de travaux tels que Agénor (2004) ou Duttagupta et al (2004) à identifier les principales conditions que doit remplir au préalable une économie avant l’adoption d’un régime de flottement pur du taux de change. Ces dernières englobent le développement du...
Persistent link: https://www.econbiz.de/10005837253
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Risk and Asian exchange rate regimes
Goyal, Ashima; Agarwal, Ankita - Volkswirtschaftliche Fakultät, … - 2005
A panel regression gives evidence that more flexibility in Asian exchange rates reduces risk associated with bank …
Persistent link: https://www.econbiz.de/10008490078
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Methodology for an Early Warning System: The Signals Approach
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
In this chapter we provide a brief review of the “signals” approach used in this book to assess the probability of a currency or a banking crisis. This methodology was first used to analyze the performance of a variety of macroeconomic and financial indicators around the “twin crises” in...
Persistent link: https://www.econbiz.de/10008531913
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Rating the Rating Agencies
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we...
Persistent link: https://www.econbiz.de/10008531919
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Early Warning System: Empirical Results from The Signals Approach
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
The signals approach was applied to 24 of the indicators around the dates of the 29 banking and the 87 currency crises. In what follows, we first compare our results for the 15 original indicators in Kaminsky and Reinhart (1996) to those presented in that study. This exercise assesses the...
Persistent link: https://www.econbiz.de/10008531936