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Compensating Wages under Different Exchange Rate Regimes
Hoffmann, Mathias - 2005
Die vorliegende Studie untersucht die empirische Regelmäßigkeit, dass Faktorpreise, insbesondere Lohnniveaus, sich im Länderquerschnitt nicht anpassen. Die Studie bietet einen möglichen Erklärungsansatz: Ein allgemeines stochastisches Gleichgewichtsmodell mit monopolistischer Konkurrenz auf...
Persistent link: https://www.econbiz.de/10005854223
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Fixed versus Flexible Exchange Rates: Evidence from Developing Countries
Hoffmann, Mathias - 2005
Bedeutung dieser realen Störrungen auf das Produktionsniveau, die Handelsbilanz und den realen Wechselkurs für 38 … world interest rate and world output shocks in driving output, trade imbalances and real exchange rate fluctuations is … and the real exchange rate to world real interest rate and world output shocks differ across exchange rate regimes. …
Persistent link: https://www.econbiz.de/10005854224
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International financial markets’influence on the welfare performanceof alternative exchange rate regimes
Hoffmann, Mathias - Deutsche Bundesbank <Frankfurt, Main> / … - 2008
In this paper Friedman (1953) and Mundell's (1968) position favouring flexible over alternative exchange rate regimes is reassessed in the context of international financial market integration...
Persistent link: https://www.econbiz.de/10005866161
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How to Exit From Fixed Exchange Rate Regimes?
Aşıcı, Ahmet Atıl; Ivanova, Nadezhda; Wyplosz, Charles - Institut für Schweizerisches Bankwesen <Zürich> - 2007
Even though they can last for decades, fixed exchange rate regimes are increasingly seen as temporary arrangements, (Eichengreen, 1994). The hollowing out hypothesis, see, e.g. Fischer (2001), holds that fixed but adjustable exchange rate regimes of various kinds are scheduled to disappear in...
Persistent link: https://www.econbiz.de/10005858214
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Efficient Calibration of Trinomial Trees for One-Factor Short Rate Models
Leippold, Markus; Wiener, Zvi - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003
In this paper we discuss the implementation of general one-factor short rate models with a trinomial tree. Taking the Hull-White model as a starting point, our contribution is threefold. First, we show how trees can be spanned using a set of general branching processes. Secondly, we improve...
Persistent link: https://www.econbiz.de/10005858854
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Exchange Rate Uncertainty and Trade Growth - A Comparison ofLinear and Nonlinear (Forecasting) Models
Herwartz, Helmut; Weber, Henning - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
A huge body of empirical and theoretical literature has emerged on the relationship between foreign exchange (FX) uncertainty and international trade. Empirical findings about the impact of FX uncertainty on trade figures are at best weak and often ambiguous with respect to its direction. Almost...
Persistent link: https://www.econbiz.de/10005861000
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Economic Integration and the Foreign Exchange
Weber, Enzo - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
This paper demonstrates effects of economic convergence processes on the foreign exchange behaviour in a monetary modelling approach. Since the exchange rate represents the relative price of two currencies, commonness of stochastic trends between the fundamental determinants of supply and demand...
Persistent link: https://www.econbiz.de/10005861005
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A BEHAVIORAL FINANCE MODEL OF THE EXCHANGE RATE WITH MANY FORECASTING RULES
DE GRAUWE, PAUL; ROVIRA KALTWASSER, PABLO - ESifo GmbH <München> - 2006
This paper presents a behavioral finance model of the exchange rate. Agents forecast theexchange rate by means of very simple rules. They can choose between three groups offorecasting rules: fundamentalist, extrapolative and momentum rules. Agents using afundamentalist rule are not able to...
Persistent link: https://www.econbiz.de/10005861184
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New Evidence on the Puzzles. Results from Agnostic Identification on Monetary Policy and Exchange Rates.
Scholl, Almuth; Uhlig, Harald - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2005
Past empirical research on monetary policy in open economies has found evidence of the ’delayed overshooting’, the ’forward discount’ and the ’exchange rate’ puzzles. We revisit the effects of monetary policy on exchange rates by applying Uhlig’s (2005) identification procedure that...
Persistent link: https://www.econbiz.de/10005861978
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Deckungslücken im Finanzierungsgefüge einer Unternehmung - Frühwarninformationen zum Erkennen und Bewerten von offenen Positionen
Giese, Gottfried; Hockmann, Heinz; Schaum, Hermann; … - Schmalenbach-Gesellschaft - Deutsche Gesellschaft für … - 1985
Das letzte Projekt dieses Arbeitskreises "Geschäftspolitische und organisatorische Aspekte des Kreditmanagements" behandelte die mit der absatzbezogenen Kreditvergabe von Unternehmen zusammenhängenden Fragen. Bei diesen Untersuchungen stieß der Arbeitskreis auf den überraschenden Hinweis,...
Persistent link: https://www.econbiz.de/10005864048