Showing 1 - 10 of 447
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
This paper analyzes stabilization policy under predetermined exchange rates in a cash-in-advance, staggered-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the inflation rate, with no effect on output or consumption....
Persistent link: https://www.econbiz.de/10008596363
This study examined the monetary and macroeconomic stability perspective for entering into monetary union, using data available on WAMZ countries. It tests the hypothesis that independent monetary and exchange rate policies have been relatively ineffective in influencing domestic activities...
Persistent link: https://www.econbiz.de/10005836097
This study examines the effect of independent exchange rate policy, relative to other determinants, on global export performance of WAMZ countries. The regression results show that exports originating from the Zone to the rest of the world are influenced positively by domestic output, export...
Persistent link: https://www.econbiz.de/10005623196
This paper examines optimal exchange policy when nominal interest rates are unusually low, as experienced by several Asian economies and Japan since July 2006. The paper finds that in such environments, it is optimal to create a nominal depreciation to offset contractionary disturbances....
Persistent link: https://www.econbiz.de/10005616807
Using a New Neoclassical Synthesis model of monetary policy for a small open economy, this paper explores the impact of an increased degree of price flexibility on output volatility. Previous analysis of this question – based on the earlier generation of descriptive macro systems with...
Persistent link: https://www.econbiz.de/10005616826
This study examines the effect of exchange rate policy on the bi-lateral intra-WAMZ and global inter-WAMZ export trade, with a view to gauging its relative veracity among other determinants. The regression results show that the coefficient estimates of bilateral exchange rate (variable of...
Persistent link: https://www.econbiz.de/10005616863
A dynamic stochastic general equilibrium monetary model with incomplete and imperfect asset markets, monopolistic competition and staggered nominal price rigidities is developed to shed light on the role of exchange rate and its relation with current account dynamics in the formulation of...
Persistent link: https://www.econbiz.de/10005617029
This study gauged the effects of output co-variability, intra-industry intensity of trade and endogenous features of the countries such as common language, border, or colonizer, etc. on bilateral trade. The results confirm that similarities in business cycles influence bilateral trade among the...
Persistent link: https://www.econbiz.de/10005617054
This study examines the effect of independent exchange rate pursuits and reserve holdings, relative to other determinants, on global export performance of WAMZ countries. The regression results show that exports originating from the Zone to the rest of the world are influenced positively by...
Persistent link: https://www.econbiz.de/10005789491