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The Demise of the Swiss Interest Rate Puzzle

Weder, Beatrice; Kugler, Peter - Universität <Mainz> / Lehrstuhl für …; … - 2009

In this paper we analyzed the violations of UIP for the Swiss Franc against the Dollar, the Euro, the Yen, thePound and the Canadian Dollar using recent data up to fall 2008. This exercise provides the following mainresults : first the Swiss interest rate puzzle disappeared, i.e. mean returns on...

Persistent link: https://www.econbiz.de/10005867775

WHY ARE RETURNS ON SWISS FRANC ASSETS SO LOW?

Kugler, Peter; Weder, Beatrice - Wirtschaftswissenschaftliches Zentrum <Basel> - 2005

currency. The long run return differential has been stable over the last 20 years, transitory structural breaks are only found … in times of currency turmoil. We suggest that the return anomaly may be due to an insurance premium against very rare …

Persistent link: https://www.econbiz.de/10005867936

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...

Persistent link: https://www.econbiz.de/10005868573

FOREIGN DIRECT INVESTMENT AND EXCHANGERATES: A CASE STUDY OF U.S. FDI IN EMERGINGMARKET COUNTRIES

Udomkerdmongkol, Manop; Görg, Holger; Morrissey, Oliver - University <Nottingham> / Department of Economics - 2006

effects. The nominal bilateral exchange rate tothe $US captures the value of the local currency (a higher value implies a … cheaper currency andattracts FDI). Changes in the real effective exchange rate index (REER) proxy for expected changes inthe … postponed (encouraged). The temporary component of bilateralexchange rates is a proxy for volatility of local currency, which …

Persistent link: https://www.econbiz.de/10005868663

EXCHANGE RATE REGIMES AND INFLATION –ONLY HARD PEGS MAKE A DIFFERENCE

Bleaney, Michael F.; Manuel Francisco - University <Nottingham> / Department of Economics - 2003

that “hard” pegs (currency boards or a shared currency) reduce inflationand money growth... …

Persistent link: https://www.econbiz.de/10005868816

Why Did FDR’s Bank HolidaySucceed?

Silber, William L. - Leonard N. Stern School of Business <New York, NY> / … - 2009

the Federal Reserve’s commitmentto supply unlimited amounts of currency to reopened banks created de facto 100 percent …

Persistent link: https://www.econbiz.de/10005869399

Exchange Rate Changes and Net Positions of Speculators in the Futures Market

Klitgaard Hertel, Thomas; Weir, Laura - Federal Reserve Bank <New York, NY> - 2004

[...]In this article, we pursue a transaction-oriented line ofresearch to help track short-term exchange rate movements. Byexamining a publicly available data set well known to currencymarket analysts—net positions held by speculators in thefutures market—we are able to document a strong...

Persistent link: https://www.econbiz.de/10005869759

Is Corporate Governance Different for Bank Holding Companies?

Adams, Renée; Mehran, Hamid - Federal Reserve Bank <New York, NY> - 2003

[...]We discuss the potential benefits and costs associated withsome of the corporate governance variables for an average firm.However, we stress that all of these variables are ultimately partof a simultaneous system that determines the corporation’svalue and the allocation of such value...

Persistent link: https://www.econbiz.de/10005869849

The Economics of Currency Crises and Contagion: An Introduction

Pesenti, Paolo A.; Tille, Cédric - Federal Reserve Bank <New York, NY> - 2000

[...]We begin by discussing the so-called first generation ofmodels, in which crises are viewed in the literature as theunavoidable result of unsustainable policies or fundamentalimbalances. Next, we survey the literature on the secondgeneration of models, which highlights the possibility of...

Persistent link: https://www.econbiz.de/10005869910

Market Returns and Mutual Fund Flows

Remolona, Eli M.; Kleiman, Paul; Bocian, Debbie Gruenstein - Federal Reserve Bank <New York, NY>; London School of … - 1997

[...]In this study, we use recent historical evidence toexplore one dimension of the broad relationship betweenmarket returns and mutual fund flows: the effect of shorttermmarket returns on mutual fund flows. Research onthis issue has already confirmed high correlations betweenmarket returns and...

Persistent link: https://www.econbiz.de/10005870270