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Die hollowing-out Hypothese, auch bekannt unter den Bezeichnungen (two) corner solutions oder bipolar view, besagt, dass für Staaten mit weitgehend ungehindertem Kapitalverkehr nur Ecklösungen, also entweder extrem feste oder sehr flexible Wechselkursregime, langfristig tragbar sind. Mitte der...
Persistent link: https://www.econbiz.de/10009451145
This paper explores the implications for international monetary economics of recent work on macroeconomic models of temporary equilibrium with rationing. A model of a small open economy is presented, which, though fully consistent in the long run with the monetary approach to the balance of...
Persistent link: https://www.econbiz.de/10009441422
This paper explores the implications for international monetary economics of recent work on macroeconomic models of temporary equilibrium with rationing. A model of a small open economy is presented, which, though fully consistent in the long run with the monetary approach to the balance of...
Persistent link: https://www.econbiz.de/10009441445
analysis reveals that under both policy targets, households in the country where the fiscal shock originates prefer a monetary … Wechselkurssystem sowie in einer Währungsunion untersucht. Im Anschluss an eine getrennte Analyse der beiden Wechselkursssysteme wird … fiskalpolitischen Expansion kommt - eine Währungsunion gegenüber einem flexiblen Wechselkurssystem bevorzugen, unabhängig davon, ob die …
Persistent link: https://www.econbiz.de/10009475325
This dissertation studies the relationship between exchange rate regimes and financing decisions of corporations in small open economies with access to international capital markets.The first essay develops a model of the choice between local and foreign currency debt by capital-constrained...
Persistent link: https://www.econbiz.de/10009477298
The three papers that comprise my dissertation study international asset markets. The first paper “What Do We Learn from the Price of Crude Oil Futures?” shows that, despite their widespread use, oil futures prices are less accurate in the mean-squared error sense than no-change forecasts....
Persistent link: https://www.econbiz.de/10009477330
Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? This study evaluates within a game-theoretic framework the exchange rate regime from a welfare perspective. In a tradable-nontradable goods model framework, Tunisia’s exchange rate regime...
Persistent link: https://www.econbiz.de/10009477444
Exchange rate stability was defined as one of the prerequisites for monetary integration in Europe. In this paper, we analyze recent developments in the volatility of exchange rates of the Central European countries (the Visegrad Group) and a selected group of European Union countries (the...
Persistent link: https://www.econbiz.de/10009477538
The stable exchange rate is very important in international trade. This paper aims to show how exchange rate facilitates the economic growth and all economic conditions of a country, within the time 2008 – 2016. This paper is aimed to be unique because will study the effect of exchange rate on...
Persistent link: https://www.econbiz.de/10011716413