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Transmission of shocks to the Chinese economy in a global context : a model-based approach
Bailliu, Jeannine N.; Blagrave, Patrick - 2010
incorporate China into an existing model for the G-3 economies (i.e., the United States, the euro area, and Japan), paying … particular attention to modelling the exchange rate and monetary policy in China. Their findings suggest that the Chinese economy … real exchange rate more persistent. In addition, the authors’ model underscores the importance of spillovers from China to …
Persistent link: https://www.econbiz.de/10003996844
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A Bitcoin standard : lessons from the gold standard
Weber, Warren E. - 2016
This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange...
Persistent link: https://www.econbiz.de/10011446194
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McCallum rules, exchange rates, and the term structure of interest rates
Díez de los Ríos, Antonio (contributor) - 2008
McCallum (1994a) proposes a monetary rule where policymakers have some tendency to resist rapid changes in exchange rates to explain the forward premium puzzle. We estimate this monetary policy reaction function within the framework of an affine term structure model to find that, contrary to...
Persistent link: https://www.econbiz.de/10003775749
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Foreign exchange interventions : the long and the short of it
Alexander, Patrick; Alpanda, Sami; Kabaca, Serdar - 2022 - Last updated: June 6, 2022
This paper studies the effects of foreign exchange (FX) interventions in a two-region New Keynesian model where governments issue both short-term and long-term bonds. Imperfect substitutability between bonds gives rise to portfolio balance effects that make FX interventions effective....
Persistent link: https://www.econbiz.de/10013252982
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Do protectionist trade policies integrate domestic markets? : evidence from the Canada-U.S. softwood lumber dispute
Guo, Jinggang; Johnston, Craig - 2020 - Last updated: March 23, 2020
We consider the effects of protectionist trade policies on international and domestic market integration, using evidence from the long-standing softwood lumber trade dispute between Canada and the United States. The benefits of trade liberalization are widely acknowledged, including better...
Persistent link: https://www.econbiz.de/10012181252
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A wave of protectionism? : an analysis of economic and political considerations
Maier, Philipp (contributor) - 2008
calls from some U.S. policymakers for tariffs on imports from China has sparked fears that this could trigger a world …
Persistent link: https://www.econbiz.de/10003641330
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The role of foreign exchange dealers in providing overnight liquidity
S'Souza, Chris (contributor) - 2008
This paper illustrates that dealers in foreign exchange markets not only provide intraday liquidity, they are key participants in the provision of overnight liquidity. Dealing institutions receive compensation for holding undesired inventory balances in part from the information they receive in...
Persistent link: https://www.econbiz.de/10003775751
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A no-arbitrage analysis of macroeconomic determinants of term structures and the exchange rate
Chabi-Yo, Fousseni (contributor); Yang, Jun (contributor) - 2007
We study the joint dynamics of macroeconomic variables, bond yields, and the exchange rate in an empirical two-country New-Keynesian model complemented with a no-arbitrage term structure model. With Canadian and US data, we are able to study the impact of macroeconomic shocks from both countries...
Persistent link: https://www.econbiz.de/10003462987
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Welfare effects of commodity price and exchange rate volatilities in a multi-sector small open economy model
Dib, Ali (contributor) - 2008
This paper develops a multi-sector New Keynesian model of a small open economy that includes commodity, manufacturing, non-tradable, and import sectors. Price and wage rigidities are sector specific, modelled à la Calvo-Yun style contracts. Labour and capital are imperfectly mobile across...
Persistent link: https://www.econbiz.de/10003711673
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Multilateral adjustment and exchange rate dynamics : the case of three commodity currencies
Bailliu, Jeannine N.; Dib, Ali; Kano, Takashi; … - 2007
In this paper, we empirically investigate whether multilateral adjustment to large U.S. external imbalances can help explain movements in the bilateral exchange rates of three commodity currencies---the Australian, Canadian and New Zealand (ACNZ) dollars. To examine the relationship between...
Persistent link: https://www.econbiz.de/10003560532