Similar Search Results

Monetary policy, default risk and the exchange rate

Gonçalves, Carlos Eduardo Soares; Guimarães, Bernardo - London School of Economics and Political Science - 2010

In a country with high probability of default, higher interest rates may render the currency lessattractive if … leadthe Brazilian currency to depreciate.[...] …

Persistent link: https://www.econbiz.de/10008911505

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 … high productivity and output growth, along with a reasonable degree ofmacroeconomic stability... …

Persistent link: https://www.econbiz.de/10005862311

Defending AgainstSpeculative Attacks : A HybridModel of ExchangeMarket Pressure and Crises

Daniëls, Tijmen; Jager, Henk; Klaassen, Franc - Sonderforschungsbereich Ökonomisches Risiko <Berlin>

While virtually all currency crisismodels recognise that the fate of a currency peg depends onhow tenaciously policy … reduces speculators’ profits and thus postpones the crisis. It predicts that wellbefore the fall of a currency interest rates …

Persistent link: https://www.econbiz.de/10008939789

Private information, stock markets, and exchange rates

Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip; … - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

Explaining exchange rates has long been an important but vexing issue in international economics and finance. In recent years, a number of studies have shown that investors' private information plays a central role in determining exchange rates. We demonstrate in this paper that the private...

Persistent link: https://www.econbiz.de/10009248807

Central Bank Communication and Exchange Rate Volatility:A GARCH Analysis

Fišer, Radovan; Horváth, Roman - William Davidson Institute <Ann Arbor, Mich.> - 2009

We examine the effects of the Czech National Bank communication, macroeconomic newsand interest rate differential on exchange rate volatility using generalized autoregressiveconditional heteroscedasticity model. Our results suggest that central bank communicationhas a calming effect on exchange...

Persistent link: https://www.econbiz.de/10009360506

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 Uhligs (2005) identification procedure that...

Persistent link: https://www.econbiz.de/10005861978

Informative Trading or Just Noise? An Analysis of Currency Returns, Market Liquidity, and Transaction Costs in Proximity of Central Bank Interventions

Pasquariello, Paolo - 2003

We study the impact of Central Bank intervention on the process of price formation in currency markets. We use a unique …

Persistent link: https://www.econbiz.de/10005846912

The evolution of trading activity in Asian foreign exchange markets

Tsuyuguchi, Yosuke; Wooldridge, Philip - Bank für Internationalen Zahlungsausgleich <Basel> - 2008

The development of Asian foreign exchange markets has progressed appreciably in recent years. Data from the BIS Triennial Central Bank Survey indicate that the turnover of Asian currencies rose sharply between 2004 and 2007, financial institutions became more important customers, and the...

Persistent link: https://www.econbiz.de/10009305088

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

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

1
2
3
4
5
6
7
8
9
10
Next
Last