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Monetary and Fiscal Policies in Currency Board Systems and Monetary Unions

Grimm, Oliver - 2007

In der vorliegenden Arbeit beschäftige ich mich mit der theoretischen Analyse von Geld- und Fiskalpolitik in Currency-Board-Systemen und der Währungsunion. Beide Währungssysteme haben seit den neunziger Jahren zunehmend an Bedeutung gewonnen, Currency Boards durch die Rückgewinnung der...

Persistent link: https://www.econbiz.de/10009476166

Dual Inflation Under the Currency Board: The Challenges of Bulgarian EU Accession

Nenovsky, Nikolay; Dimitrova, Kalina - 2002

The importance of analysing inflation sources and dynamics in Bulgaria is imposed by (i) the long run process of price and inflation convergence to the Euro area and (ii) by the Currency Board operating in the country. In this study we make an attempt to estimate Balassa - Samuelson (BS) effect...

Persistent link: https://www.econbiz.de/10009476770

POLICY REGIME CHANGE AND CORPORATE CREDIT IN BULGARIA: ASYMMETRIC SUPPLY AND DEMAND RESPONSES

Dobrinsky, Rumen; Markov, Nikolay - 2003

The paper seeks to assess how a major policy regime change – such as the introduction of the currency board in Bulgaria – affects the flow of bank credit to the corporate sector. An attempt is made to identify the determinants of corporate credit separately from the viewpoint of lenders and...

Persistent link: https://www.econbiz.de/10009476775

Lietuvos monetarinės politikos vertinimas

Žaliauskas, Žilvinas - 2010

Monetarinė politika – tai valstybės naudojamų priemonių rinkinys, kuriuo siekiama reguliuoti tam tikrus ekonomikos procesus. Efektyviai ir tinkamai vykdant monetarinę politiką valstybėje galima uţtikrinti: stabilias kainas, stabilią ir stiprią nacionalinę valiutą, didelį...

Persistent link: https://www.econbiz.de/10009478249

Interbank Markets under Currency Boards

Jurgilas, Marius - 2006

This paper analyzes interbank markets under currency boards. Under such an environment, problematic endogeneity issues common to other monetary regimes do not arise. Using daily data from the interbank markets in Bulgaria and Lithuania we show, that contrary to the existing literature, overnight...

Persistent link: https://www.econbiz.de/10009430031

When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options

Calvo, Guillermo A.; Reinhart, Carmen M. - 1999

suddenstop problem less severe. In this regard, we consider the relative merits of capital controlsand dollarization. We conclude …. Dollarization would appear to have the edge as a more marketorientedoption to ameliorate, if not eliminate, the sudden stop problem. …

Persistent link: https://www.econbiz.de/10009450565

Testimony on Dollarization

Calvo, Guillermo A. - 2000

I was invited here to explain about Dollarization, the benefits and costs for the US and thecountries that adopt it … ConnieMack’s proposal). Moreover, I believe global dollarization will have direct economic benefits forthe US, and enhance its … role as a worldwide leader.Dollarization is the decision to abandon the national currency and replace it by the USDollar …

Persistent link: https://www.econbiz.de/10009450720

The effect of common currencies on trade

Szebeni, Katalin - 2004

The theory of optimum currency areas states that the more two countries trade with each other, the better candidates they are for a currency union. In terms of the endogeneity argument, convergence follows from joining a currency union and the integration process itself turns the countries into...

Persistent link: https://www.econbiz.de/10009457804

Transmission of equity returns and volatility in Asian developed and emerging markets : a multivariate Garch analysis

Worthington, Andrew C.; Higgs, Helen - 2004

This paper examines the transmission of equity returns and volatility among Asian equity markets and investigates the differences that exist in this regard between the developed and emerging markets. Three developed markets (Hong Kong, Japan and Singapore) and six emerging markets (Indonesia,...

Persistent link: https://www.econbiz.de/10009437447

Cointegration and Market Integration: An Application to the Potato Markets in Rural West Bengal, India

Basu, Jyotish Prakash - 2006

The paper attempts to examine the market integration with the help of cointegration test on the prices of potato of Hooghly district in West Bengal. The analysis has been made at two levels, namely at the level of wholesale markets and at the retail markets. The cointegration test by Johansen...

Persistent link: https://www.econbiz.de/10009442462