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Do Markets Care About Central Bank Governor Changes? Evidence from Emerging Markets
Moser, Christoph; Dreher, Axel - KOF Swiss Economic Institute, Department of Management, … - 2007
Central bank governor changes in emerging markets may convey important signals about future monetary policy. Based on a new daily data set, this paper examines the reactions of foreign exchange markets, domestic stock market indices and sovereign bond spreads to central bank governor changes....
Persistent link: https://www.econbiz.de/10005212629
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Do Markets Care About Central Bank Governor Changes? Evidence from Emerging Markets
Moser, Christoph - 2013
Central bank governor changes in emerging markets may convey important signals about future monetary policy. Based on a new daily data set, this paper examines the reactions of foreign exchange markets, domestic stock market indices and sovereign bond spreads to central bank governor changes....
Persistent link: https://www.econbiz.de/10012753766
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Gefährdet der Ankauf von Staatsanleihen die Unabhängigkeit der EZB?
Sauer, Beate - In: Credit and Capital Markets 46 (2013) 1, pp. 29-52
Since May 2010 at the latest, the ECB has been criticized for financing government bonds – at least indirectly – and for tolerating to be put under pressure by the fiscal side. The ECB itself has justified its securities markets programme and, thus, its government bond purchases by the need...
Persistent link: https://www.econbiz.de/10010757748
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Glaubwürdigkeit der Geldpolitik : eine empirische Analyse unter besonderer Berücksichtigung der Europäischen Zentralbank
Hamella, Sandra - ifo Leibniz-Institut für Wirtschaftsforschung an der …
Geldpolitik mit Hilfe von qualitativen Befragungsdaten. Besonderes Augenmerk liegt dabei auf der Untersuchung der Glaubwürdigkeit … der Europäischen Zentralbank (EZB), die als vergleichsweise junge Institution Reputation aufbauen muss. Grundlage der … Auswertung der Daten gehen eine ausführliche Übersicht über die wirtschaftswissenschaftliche Literatur zur Geldpolitik in den …
Persistent link: https://www.econbiz.de/10008791353
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Monetary Integration Between Jordan Palestine.
Dabbagh, O. - Economic Research Forum (ERF) - 1999
Monetary integration could have immense implications for both Palestine and Jordan. Two of what are regarded as prerogative functions of an independent state (monetary policy and control over the exchange rate) must be surrendered to a central monetary authority of the union. This will require...
Persistent link: https://www.econbiz.de/10005639361
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Liberalization and Regulation of Capital Flows: Lessons for Emerging Market Economies
Mohan, Rakesh; Kapur, Muneesh - Asian Development Bank Institute, Asian Development Bank - 2010
Capital flows to emerging market economies (EMEs) have been characterized by high volatility since the 1980s. In recent years (especially since 2003), although gross as well as net capital flows to the EMEs have increased, they could not be absorbed domestically. Overall, savings have flowed...
Persistent link: https://www.econbiz.de/10008489519
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Exchange rate regime preferences of the international sector. Firm-level evidence
Fernández-Albertos, José - In: Economics Letters 116 (2012) 1, pp. 26-30
This paper argues that fixed exchange rate regimes are preferred by the international sector only if they are adopted in economies endowed with anti-inflationary policy-making institutions (i.e., independent central banks). Cross-national firm-level data gives strong support to this claim.
Persistent link: https://www.econbiz.de/10011041753
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Notwendigkeit, Regelungen und Konsequenzen einer neuen Geldordnung
Gudehus, Tim - In: Zeitschrift fuer Wirtschaftspolitik 63 (2014) 1, pp. 74-106
From an analysis of the uncertainties, deficiencies and negative effects of the present monetary system the necessity and the requirements for a new monetary order are derived. These requirements are fulfilled by the presented regulations of a monetary order, which is based on the proposals of...
Persistent link: https://www.econbiz.de/10010892218
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Wie ist das EU-Konzept zur Bankenunion zu bewerten?
Lautenschläger, Sabine; Gstädtner, Thomas; Steffen, Sascha - In: Ifo Schnelldienst 66 (2013) 01, pp. 03-13
Mit den Beschlüssen zur europäischen Regulierung im Dezember 2012 hat die EU einen Schritt in Richtung Bankenunion gemacht. Nach Ansicht von Sabine Lautenschläger, Deutsche Bundesbank, braucht Europa Zeit, um eine europäische Bankenaufsicht und einen europäischen Abwicklungsmechanismus auf...
Persistent link: https://www.econbiz.de/10010877400
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An Empirical Analysis of the Peseta's Exchange Rate Dynamics.
Ayuso, Juan; Vega, Juan L. - Banco de España - 1996
The paper addresses the issue of the role of exchange rate jumps. The short-run dynamics of the peseta's effective exchange rate vis-a- vis OECD countries over the period 1974:1 - 1995:9 is estimated using a PPP-based error-correction model enlarged with additional terms allowing for the...
Persistent link: https://www.econbiz.de/10005155238