Narrow search
Showing 1 - 10 of 225
Cover Image
EXCHANGE RATE REGIMES AND INFLATION –ONLY HARD PEGS MAKE A DIFFERENCE
Bleaney, Michael F.; Manuel Francisco - University <Nottingham> / Department of Economics - 2003
Previous research has suggested that pegged exchange rates are associated withlower inflation than floating rates. In which direction does the causality run?Using data from a large sample of developing countries from 1984 to 2000, weconfirm that “hard” pegs (currency boards or a shared...
Persistent link: https://www.econbiz.de/10005868816
Cover Image
Exchange rate determination under interest rate rules
Benigno, Gianluca; Benigno, Pierpaolo - London School of Economics and Political Science - 2008
monetaryregime chosen, though not necessarily on monetary shocks. Wegive a simple account of exchange rate volatility in terms … ofmonetary policy rules, we provide an explanation of the relationbetween nominal exchange rate volatility and …
Persistent link: https://www.econbiz.de/10009138475
Cover Image
Exchange Rate Volatility and Productivity Growth: The Role of Financial Development
Aghion, Philippe; Bacchetta, Philippe; Ranciere, Romain; … - Institut für Schweizerisches Bankwesen <Zürich> - 2006
This paper offers empirical evidence that real exchange rate volatility can have a significant impact on the long … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also oer a simple monetary growth model in which real exchange rate uncertainty …
Persistent link: https://www.econbiz.de/10005858527
Cover Image
In What Sense Can Intervention ReduceExchange Rate Volatility?
Bleaney, Michael F.; Francisco, Manuela - University <Nottingham> / Department of Economics - 2008
Can pegging reduce real as well as nominal, and multilateral as well as bilateralexchange rate volatility? We …
Persistent link: https://www.econbiz.de/10005868570
Cover Image
What Makes Currencies Volatile?An Empirical Investigation
Bleaney, Michael F.; Francisco, Manuela - University <Nottingham> / Department of Economics - 2008
Real effective exchange rate volatility is examined for 90 countries using monthlydata from January 1990 to June 2006 …. Volatility decreases with openness tointernational trade and per capita GDP, and increases with inflation, particularlyunder a … horizontal peg or band, and with terms-of-trade volatility. The choice ofexchange rate regime matters... …
Persistent link: https://www.econbiz.de/10005868573
Cover Image
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
Cover Image
Is the Chinese Growth Miracle Built to Last?
Prasad, Eswar S. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
Is the Chinese growth miracle - a remarkably high growth rate sustained for over twodecades - likely to persist or are the seeds of its eventual demise contained in the policiesthat have boosted growth? For all its presumed flaws, the particular approach tomacroeconomic and structural policies...
Persistent link: https://www.econbiz.de/10005862311
Cover Image
The DAX and the Dollar : The Economic Exchange Rate Exposure of German Corporations
Glaum, Martin; Brunner, Marko; Himmel, Holger - 2002
This paper examines the economic exposure of German corporations to changes in the DM/US-dollar exchange-rate. Our work contributes to the existing body of literature in the following ways. Firstly, we point out conceptual problems of previous attempts to estimate economic exposure. Secondly, we...
Persistent link: https://www.econbiz.de/10005841406
Cover Image
Trade and Welfare Under Alternative ExchangeRate Regimes
Singh, Rajesh Kumar - Iowa State University of Science and Technology <Ames, … - 2004
This paper compares the welfare under two standard alternative exchange rate regimes, fixed andflexible, in a stochastic dynamic general equilibrium two-country setting. Conventional wisdomholds that countries often prefer low exchange-rate variability to stabilize trade. This may explainthe...
Persistent link: https://www.econbiz.de/10009360922
Cover Image
Segmented Asset Markets and Optimal ExchangeRate Regimes
Singh, Rajesh Kumar; Lahiri, Amartya; Végh, Carlos A. - Iowa State University of Science and Technology <Ames, … - 2006
This paper revisits the issue of the optimal exchange rate regime in a flexible price environment. The key innovation is that we analyze this question in the context of environments where only a fraction of agents participate in asset market transactions (i.e., asset markets are segmented)....
Persistent link: https://www.econbiz.de/10009360923