Similar Search Results

The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan

Coenen, Günter (contributor); Wieland, Volker (contributor) - 2003

Persistent link: https://www.econbiz.de/10001762880

Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates

Georgiadis, Georgios; Zhu, Feng - 2019

We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...

Persistent link: https://www.econbiz.de/10011997477

Exchange rate misalignment and external imbalances : what is the optimal monetary policy response?

Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2023

How should monetary policy respond to excessive capital inflows that appreciate the currency and widen the external deficit? Using the workhorse two-country open-macro model, we derive a quadratic approximation of the utility-based global loss function in incomplete market economies, and solve...

Persistent link: https://www.econbiz.de/10014362654

Real convergence in Central and Eastern European EU Member States : which role for exchange rate volatility?

Arratibel, Olga (contributor); Furceri, Davide (contributor) - 2008

This paper analyzes the relation between exchange rate volatility and several macroeconomic variables, namely real per capita output growth, the credit cycle, the stock of inward foreign direct investment (FDI) and the current account balance, in the Central and Eastern European EU Member...

Persistent link: https://www.econbiz.de/10003789431

Exchange rate shocks and inflation comovement in the euro area

Leiva-Leon, Danilo; Martínez-Martín, Jaime; Ortega, Eva - 2020

This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries in ation into country-specific (idiosyncratic) and region-wide (common) components. To do so, we propose a exible empirical framework based on dynamic factor models subject to drifting...

Persistent link: https://www.econbiz.de/10012181317

The wage-price pass-through in the euro area : does the growth regime matter?

Hahn, Elke - 2020

growth regime. Since the great financial crisis inflation developments have posed major puzzles to economists as inflation … paper analyses whether the wage-price pass-through may have contributed to these inflation puzzles. Applying the Threshold … or diminish the puzzle of the missing disinflation of the past two recessions suggesting that inflation should be …

Persistent link: https://www.econbiz.de/10012305400

Expenditure switching vs. real exchange rate stabilization : competing objectives for exchange rate policy

Devereux, Michael B. (contributor); … - 2006

This paper develops a view of exchange rate policy as a trade-off between the desire to smooth fluctuations in real exchange rates so as to reduce distortions in consumption allocations, and the need to allow flexibility in the nominal exchange rate so as to facilitate terms of trade adjustment....

Persistent link: https://www.econbiz.de/10003320659

A market microstructure analysis of foreign exchange intervention

Vitale, Paolo (contributor) - 2006

We formulate a market microstructure model of exchange determination we employ to investigate the impact of foreign exchange intervention on exchange rates and on foreign exchange (FX) market conditions. With our formulation we show i) how foreign exchange intervention inʿuences exchange rates...

Persistent link: https://www.econbiz.de/10003337161

A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility

Hillebrand, Eric (contributor); Schnabl, Gunther (contributor) - 2006

While up to the late 1990s Japanese foreign exchange intervention was fully sterilized, Japanese monetary authorities left foreign exchange intervention unsterilized when Japan entered the liquidity trap in 1999. According to previous research on foreign exchange intervention, unsterilized...

Persistent link: https://www.econbiz.de/10003337476

Exchange rate anchoring : is there still a de facto US dollar standard?

Bracke, Thierry; Bunda, Irina - 2011

The paper provides a measure of exchange rate anchoring behaviour across 149 emerging market and developing economies for the 1980-2010 period. An extension of the Frankel and Wei (2008) methodology is used to determine whether exchange rates are pegged or floating, and in the case of pegs, to...

Persistent link: https://www.econbiz.de/10009160000

1
2
3
4
5
6
7
8
9
10
Next
Last