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Determinants of the euro real effective exchange rate: a BEER/PEER approach
Maeso-Fernandez, Francisco; Osbat, Chiara; Schnatz, Bernd - EconWPA - 2001
This paper presents an empirical analysis of the medium-term determinants of the euro effective exchange rate. The … the euro effective exchange rate. Assessing the existence and the extent of the over- or undervaluation of the exchange … models point unambiguously to the undervaluation of the euro in 2000, although the extent of this undervaluation largely …
Persistent link: https://www.econbiz.de/10005408176
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Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?
COUHARDE, Cécile; Guerreiro, David; Mignon, Valérie; … - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2012
This paper aims at explaining why the CFA countries have successfully maintained a currency union for several decades, despite failing to meet many of optimum currency area criteria. We suggest that the CFA zone, while not optimal, has been at least sustainable. We test this sustainability...
Persistent link: https://www.econbiz.de/10010992384
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Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?
Couharde, Cécile; Coulibaly, Issiaka; Guerreiro, David; … - Centre d'études prospectives et d'informations … - 2012
This paper aims at explaining why the CFA countries have successfully maintained a currency union for several decades, despite failing to meet many of optimum currency area criteria. We suggest that the CFA zone, while not optimal, has been at least sustainable. We test this sustainability...
Persistent link: https://www.econbiz.de/10010604033
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Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?
Couharde, Cécile; Coulibaly, Issiaka; Guerreiro, David; … - In: Journal of Macroeconomics 38 (2013) PB, pp. 428-441
This paper aims at explaining why the CFA countries have successfully maintained a currency union for several decades, despite failing to meet many of optimum currency area criteria. We suggest that the CFA zone, while not optimal, has been at least sustainable. We test this sustainability...
Persistent link: https://www.econbiz.de/10011065292
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The dynamics of exchange rate volatility: A panel VAR approach
Grossmann, Axel; Love, Inessa; Orlov, Alexei G. - In: Journal of International Financial Markets, … 33 (2014) C, pp. 1-27
This paper employs a panel vector autoregressive model (PVAR) to study the dynamics of the overall exchange rate volatility. PVAR estimation results, based on panel data for 29 economies, are used in simulating impulse response functions. Since economic shocks may affect high-frequency and...
Persistent link: https://www.econbiz.de/10011189480
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The Impact of Yuan Internationalization on the Euro-Dollar Exchange Rate
Benassy-Quere, Agnes; Forouheshfar, Yeganeh - CESifo - 2013
the euro-dollar exchange rate, within a three-country, three-currency portfolio model. Our static model shows that the … euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stock-flow framework, we show that the …
Persistent link: https://www.econbiz.de/10010877786
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Der Euro, ein Segen für Afrika? Folgen der Anbindung der afrikanischen Franc-Zone an den Euro
Kohnert, Dirk - Volkswirtschaftliche Fakultät, … - 1998
French taxpayer. In the aftermath of the devaluation of the Franc CFA in 1994, and of the peg of the currency to the Euro in …
Persistent link: https://www.econbiz.de/10005260329
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The International Monetary System in Flux: Overview and Prospects
Bação, Pedro; Durate, António Portugal; Simões, Mariana - Grupo de Estudos Monetários e Financeiros (GEMF), … - 2013
integration process that led to the creation of the euro. We then discuss the role played by the euro in the IMS as an … reserves of the euro, the US dollar and the renminbi. In the discussion, we take into account the current sovereign debt crisis …
Persistent link: https://www.econbiz.de/10010834002
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Will History Repeat Itself? Lessons for the Yuan
Cohen, Benjamin J. - Asian Development Bank Institute, Asian Development Bank - 2014
deutsche mark (DM), the Japanese yen, and the euro (successor to the DM). Yet in the end, their internationalization reached an …
Persistent link: https://www.econbiz.de/10010840159
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A NEW APPROACH OF ROMANIA'S MONETARY INTEGRATION - AN ADJUSTED MODEL
Nicu, MARCU; Anca, TANASIE - In: Revista Economica 65 (2013) 1, pp. 69-80
Recent crisis evolutions have changed both the hypothesis in terms of monetary integration inside the Euro Zone for …'s necessary approach concerning the Euro adoption process based on a set of variables determining a so called convergence array …
Persistent link: https://www.econbiz.de/10010641790