Similar Search Results

Sudden Stops in Capital Inflows and the Design of Exchange Rate Regimes

Ritter, Raymond - 2003

A two sector small open economy model developed by Corden (1991, 2002) is used to analyse the impact of sudden stops in capital inflows on an internal and external equilibrium and to explore the merits of disposing of the nominal exchange rate as policy tool in rectifying real exchange rate...

Persistent link: https://www.econbiz.de/10009442340

Pegs, Baskets, and the Importance of Policy Credibility: Lessons of the 1992-92 ERM Crisis

Volz, Ulrich - 2005

This paper argues that, in contrast to the popular bipolar view on exchange rate choices, intermediate regimes in general and regional exchange rate systems such as the European Monetary System (EMS) in particular should not be ruled out per se even in today's world of highly mobile capital. The...

Persistent link: https://www.econbiz.de/10009442361

Yen of Yuan? China's Role in the Future of Asian Monetary Integration

Hefeker, Carsten; Nabor, Andreas - 2002

Most proposals for Asian monetary cooperation assign a special role to the Japanese yen as an anchor currency. We focus instead on the potential role of the Chinese renminbi. It becomes increasingly clear that China will assume the role of the dominant economy in the region, and that it will...

Persistent link: https://www.econbiz.de/10009442407

A Concise History of Exchange Rate Regimes in Latin America

Frenkel, Roberto; Rapetti, Martin - 2010

The paper analyzes exchange rate regimes implemented by the major Latin American countries since the Second World War, with special attention on the period of the second globalization process beginning in the 1970s. The analysis follows a historical narrative aiming to provide an understanding...

Persistent link: https://www.econbiz.de/10009467794

Exchange Rate Volatility and Regime Change:Visegrad Comparison

Kocenda, Evžen; Valachy, Juraj - 2006

We analyze exchange rate volatility in the Visegrad Four countries in the course of their abandoning tight regimes for more flexible ones. We account for path dependence, asymmetric shocks, movements in interest rates, and allow for generalized error distribution. The overall findings are that...

Persistent link: https://www.econbiz.de/10009476919

Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks

Engelmann, Dirk; Hanousek, Jan; Kocenda, Evžen - 2004

We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates among the leading currencies is attainable. We show that a stable equilibrium can be reached in the case of two leading currencies, but not in the case of three. In our model,...

Persistent link: https://www.econbiz.de/10009477062

Risk Aversion, Private Information and Real Fluctuations

Pardo, Cristian - 2005

In this dissertation, I further explore the role of the entrepreneurial sector in creating frictions in the economy. I examine the combined effect of private information and entrepreneurial risk aversion on the dynamics of a general equilibrium macroeconomic model. I analyze the impact of these...

Persistent link: https://www.econbiz.de/10009450819

Essays on Capital Controls and the Informal Economy

Vuletin, Guillermo Javier - 2007

This dissertation addresses the issues of capital controls and informal economy. Both subjects have evoked considerable interest in both academic environments and policy circles, especially given their importance for developing countries. The dissertation is structured as follows. Chapter 1...

Persistent link: https://www.econbiz.de/10009450845

Optimal Currency Basket Pegs for Developing and Emerging Economies

Daniels, Joseph; Toumanoff, Peter; Ruhr, Marc von der - 2001

The exchange rate arrangement represents an important policy choice for emerging and transitional economies as they strive to become stable and market-driven. A wide variety of arrangements have emerged, ranging from currency boards, basket-currency pegs and single-currency pegs to floating...

Persistent link: https://www.econbiz.de/10009484478

Capital flows to Latin American countries: effects of foreign direct investment and remittances on growth and development

Jansen, Dennis W. (contributor) - 2007

ondevelopment efforts. The resurgence of foreign direct investment (FDI) and theincreasing significance of remittances, both as …, with female employment rate getting the largest impact – relative to males.Remittances are another capital flow that plays … adequately to standard shocks, a remittances shock is introduced to examinethe dynamic response of the representative economy …

Persistent link: https://www.econbiz.de/10009465200