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Estimating Exchange Rate Dynamics with Diffusion Processes : An Application to Greek EMU Data
Wilfling, Bernd; Trede, Mark - HWWA Institut für Wirtschaftsforschung - 2004
-entrance in January 2001 this paper develops a rigorous estimation procedure. The estimates provide statistical evidence of … increased central bank intervention activities in the run-up to the Greek EMU entrance. Thus the modelling and estimation …
Persistent link: https://www.econbiz.de/10010957409
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A Modern History of Exchange Rate Arrangements: The Country Histories, 1946-2001
Reinhart, Carmen - Volkswirtschaftliche Fakultät, … - 2002
These are the narrative individual country histories of exchange rate arrangements, 1946-2001 that underpin "The Modern History of Exchange Rate Arrangements: A Reinterpretation". The chronologies allow us to date dual or multiple exchange rate episodes, as well as to differentiate between...
Persistent link: https://www.econbiz.de/10005619800
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Exchange Rate Target Zone Models : A Bayesian Evaluation
Li, Kai - 2009
This paper develops a Bayesian approach to estimating exchange rate target zone models and rational expectations models in general. It also introduces a simultaneous-equation target zone model that incorporates stochastic realignment risk. Using FF/DM and IL/DM exchange rate data, we find that...
Persistent link: https://www.econbiz.de/10012722264
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A Currency Union or an Exchange Rate Union : Evidence from Northeast Asia
Jeon, Bang Nam - 2008
This paper examines whether or not Northeast Asia economies, namely, China, Japan, Korea, and Taiwan, can form a currency union, where a single currency and a uniform monetary policy are adopted, or an exchange rate union where all the currencies are pegged to an internal or external currency or...
Persistent link: https://www.econbiz.de/10012722542
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International Financial Regulation, Access to Finance, Systemic Stability, and Development
Avgouleas, Emilios - 2008
Global financial markets are subject to a complex web of soft law rules and standards called International Financial Regulation. The main rationales/objectives of International Financial Regulation revolve around the protection of investors and depositors and the safeguarding of financial system...
Persistent link: https://www.econbiz.de/10012723855
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Worldwide Anti-Money Laundering Regulation : Estimating Costs and Benefits
Masciandaro, Donato - 2008
regulation, based on a prudent estimation of the economic value of the worldwide money laundering. Using the multiplier model of … laundering is equal to US$ 1.2 trillions (2.7%of the world GDP), while the maximum theoretical benefit in combating money … laundering using financial regulation - in steady state - is equal to S$ 280 billion (0.6% of the world GDP). If the aggregate …
Persistent link: https://www.econbiz.de/10012724274
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Delving into Country Risk
Iranzo, Silvia - 2008
present world and the Spanish country risk regulation …
Persistent link: https://www.econbiz.de/10012724600
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Do Interventions in Foreign Exchange Markets Modify Investors' Expectations? The Experience of Japan between 1992 and 2003
Teiletche, Jerome - 2008
The purpose of this paper is to analyze the impact of the Bank of Japan's official interventions on the JPY/USD parity during the period 1992-2003. The novelty of our approach is to combine two recent advances of the empirical literature on foreign exchange interventions: (i) drawing on...
Persistent link: https://www.econbiz.de/10012724804
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The Wealth Effects of Oil-Related Name Changes on Stock Prices : Evidence from the U.S. and Canadian Stock Markets
Yang, Shih-An - 2008
This paper examines the valuation effects of corporate name changes involved oil related terms during recent oil price surges. Using data from the U.S. and Canadian stock markets, we show that there is a tendency for companies in both markets to add oil or petroleum to their corporate names when...
Persistent link: https://www.econbiz.de/10012725269
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Does it Pay to Have the Euro? Italy's Troubled Politics and Financial Markets Under the Lira and the Euro
Fratzscher, Marcel - 2008
There is a broad consensus that the quality of the political system and its institutions are fundamental for a country's prosperity. The paper focuses on Italy's troubled politics over the past 35 years and asks whether the adoption of the euro in 1999 has helped insulate Italy's financial...
Persistent link: https://www.econbiz.de/10012725659