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The Impact of Monetary and Commodity Fundamentals, Macro News and Central Bank Communication on the Exchange Rate : Evidence from South Africa
Égert, Balázs - 2009
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...
Persistent link: https://www.econbiz.de/10012444574
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The Impact of Monetary and Commodity Fundamentals, Macro News and Central Bank Communication on the Exchange Rate: Evidence from South Africa
Égert, Balázs - Economics Department, Organisation de Coopération et … - 2009
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...
Persistent link: https://www.econbiz.de/10005046067
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China's March to Prosperity: Reforms to Avoid the Middle-income Trap
Koen, Vincent; Herd, Richard; Hill, Sam - Economics Department, Organisation de Coopération et … - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10011277005
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Monetary Transmission Mechanism in Central and Eastern Europe: Surveying the Surveyable
Égert, Balázs - 2008
This paper surveys recent advances in empirical studies of the monetary transmission mechanism (MTM), with special attention to Central and Eastern Europe (CEE). Our results indicate that the strength of the exchange rate pass-through substantially declined over time mainly due to a fall in...
Persistent link: https://www.econbiz.de/10012444155
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Monetary Transmission Mechanism in Central and Eastern Europe: Surveying the Surveyable
Égert, Balázs; MacDonald, Ronald - Economics Department, Organisation de Coopération et … - 2008
This paper surveys recent advances in empirical studies of the monetary transmission mechanism (MTM), with special attention to Central and Eastern Europe (CEE). Our results indicate that the strength of the exchange rate pass-through substantially declined over time mainly due to a fall in...
Persistent link: https://www.econbiz.de/10005045716
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Explaining the Appreciation of the Brazilian <i>real</i>
Mourougane, Annabelle - Economics Department, Organisation de Coopération et … - 2011
temporarily interrupted only during episodes of financial turbulence. Net foreign assets and the productivity differential …
Persistent link: https://www.econbiz.de/10009350675
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The Challenges of EMU Accession Faced by Catching-up Countries: A Slovak Republic Case Study
Brook, Anne-Marie - Economics Department, Organisation de Coopération et … - 2005
very high productivity growth may have larger Balassa-Samuelson effects, resulting in higher steady state inflation rates …
Persistent link: https://www.econbiz.de/10005046142
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The Benefits and Costs of Highly Expansionary Monetary Policy
Rawdanowicz, Łukasz; Bouis, Romain; Watanabe, Shingo - Economics Department, Organisation de Coopération et … - 2013
How far to go – and to remain – in the direction of highly expansionary monetary policy hinges on the balance of marginal benefits and costs of additional monetary easing and its expected evolution over time. This paper sketches a framework for assessing this balance and applies it to four...
Persistent link: https://www.econbiz.de/10011276907
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Towards a Flexible Exchange Rate Policy in Russia
Beck, Roland; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2009
In the years preceding the onset of the global financial crisis, the Central Bank of Russia (CBR) had two goals: to reduce inflation and limit the real appreciation of the rouble. Given the strength of Russia’s balance of payments during the ten years through the first half of 2008, the de...
Persistent link: https://www.econbiz.de/10008498033
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Regulation, Competition and Productivity Convergence
Conway, Paul; de Rosa, Donato; Nicoletti, Giuseppe; … - 2006
This paper investigates the effect of product market regulations on the international diffusion of productivity shocks … observed divergence of productivity in OECD countries, given the emergence of new general-purpose technologies over the 1990s … of productivity shocks, namely the adoption of information and communications technology and the location decisions of …
Persistent link: https://www.econbiz.de/10012446836