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Toward Maghreb monetary unification:what does the theory and history tell us?
Belhadj, Aam; bangake, Chrysost; Jedlane, NABIL - Volkswirtschaftliche Fakultät, … - 2007
Since the beginning of the decade, numerous economic and monetary unification projects have aroused a lot of interest. The reinforcement of economic and monetary integration, especially in Europe, has set a trend for the creation of a monetary union in many others regions of the world. Since...
Persistent link: https://www.econbiz.de/10011260997
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The financial trilemma in China and a comparative analysis with India
Aizenman, Joshua; Sengupta, Rajeswari - Volkswirtschaftliche Fakultät, … - 2011
A key challenge facing most emerging market economies today is how to simultaneously maintain monetary independence, exchange rate stability and financial integration subject to the constraints imposed by the Trilemma, in an era of widespread globalization. In this paper we overview and contrast...
Persistent link: https://www.econbiz.de/10011261190
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Exchange rate regimes and monetary autonomy: Empirical evidence from selected Caribbean countries
Craigwell, Roland; Greenidge, Kevin; Maynard, Tracy - Volkswirtschaftliche Fakultät, … - 2009
This paper uses the error correcting methodology to investigate how pegged and non-pegged exchange rate regimes in a set of Caribbean countries affect the closeness of the relationship between changes in a base country rate and the local rate. This interest rate parity condition is subjected to...
Persistent link: https://www.econbiz.de/10009294941
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Monetary policy and sunspot fluctuation in the U.S. and the Euro area
Hirose, Yasuo - Volkswirtschaftliche Fakultät, … - 2010
We estimate a two-country open economy version of the New Keynesian DSGE model for the U.S. and the Euro area, using … worldwide equilibrium is indeterminate due to a passive monetary policy in the Euro area, even if U.S. policy is aggressive … and that sunspot shocks affect the Euro economy to a substantial degree, while the transmission of sunspots to the U.S. is …
Persistent link: https://www.econbiz.de/10009323471
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The financial trilemma in China and a comparative analysis with India
Aizenman, Joshua; Sengupta, Rajeswari - Volkswirtschaftliche Fakultät, … - 2011
A key challenge facing most emerging market economies today is how to simultaneously maintain monetary independence, exchange rate stability and financial integration subject to the constraints imposed by the Trilemma, in the era of deepening globalization. In this paper we study the Trilemma...
Persistent link: https://www.econbiz.de/10009359933
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The financial trilemma in China and a comparative analysis with India
Aizenman, Joshua; Sengupta, Rajeswari - Volkswirtschaftliche Fakultät, … - 2011
A key challenge facing most emerging market economies today is how to simultaneously maintain monetary independence, exchange rate stability and financial integration subject to the constraints imposed by the Trilemma, in an era of widespread globalization. In this paper we overview and contrast...
Persistent link: https://www.econbiz.de/10010556944
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Does Fed Funds Target Interest Rate Lead Bank of England’s Bank Rate and European Central Bank’s Key Interest Rate?
Çelik, Sadullah; Deniz, Pınar - Volkswirtschaftliche Fakultät, … - 2009
It has been a long debate whether Fed Funds target interest rate (FFTR) has significant explanatory power on interest rates in other countries. In this paper, we analyze the effects of FFTR on Bank of England (BOE) bank rate and European Central Bank (ECB) key interest rate employing-the rather...
Persistent link: https://www.econbiz.de/10005836567
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The effects of capital market openness on exchange rate pass-through and welfare in an inflation targeting small open economy
Mukherjee, Sanchita - Volkswirtschaftliche Fakultät, … - 2011
This paper analyzes the impact of capital market openness on exchange rate pass-through and subsequently on the social loss in an inflation targeting small open economy under a pure commitment policy. Applying the intuition behind the macroeconomic trilemma, I examine whether a more open capital...
Persistent link: https://www.econbiz.de/10009004851
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Monetary policy options for mitigating the impact of the global financial crisis on emerging market economies.
Dąbrowski, Marek A.; Śmiech, Sławomir; Papież, Monika - Volkswirtschaftliche Fakultät, … - 2013
Though the hypothesis that exchange rate regimes fully predetermine monetary policy in the face of external shocks hardly finds any advocates on theoretical ground it has crept in the most of empirical research. This study adopts a more discerning empirical approach that looks at monetary policy...
Persistent link: https://www.econbiz.de/10011109484
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Unraveling the Monetary Policy Transmission Mechanism in Sri Lanka
Ghazanchyan, Manuk - Volkswirtschaftliche Fakultät, … - 2014
In this paper we examine the channels through which innovations to policy variables— policy rates or monetary aggregates—affect such macroeconomic variables as output and inflation in Sri Lanka. The effectiveness of monetary policy instruments is judged through the prism of conventional...
Persistent link: https://www.econbiz.de/10011111953