The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In … integration of European financial markets emphasizing the enormous structural changes that came about since the euro has been …

This paper measures the welfare implications of a depreciation of the US dollar against the euro using a dynamic …

and solve an appropriately calibrated small open economy model where a euro-denominated bond and the equity on a traded … goods sector are traded internationally. I show that the cost of depreciating the domestic currency against the euro by 20 …

in the relationship between fundamentals and exchange rates within an early-warning framework. This is done by extending ….e. early-warning systems based on traditional macroeconomic variables have not only failed to forecast currency crises during …

The forecast performance of the empirical ESTAR model of Taylor et al. (2001) is examined for 4 bilateral real exchange … forecast gains over a simple AR(1) model exist at any of the forecast horizons that are considered, regardless of whether point … study shows that the non-linearity in the point forecasts of the ESTAR model decrease as the forecast horizon increases …

) cannot generate any forecast gains over a simple AR(1) specification. This is contrary to the findings reported in Rapach and … strongest when forecasting one step-ahead and that it diminishes as the forecast horizon increases. There exists, therefore, no …