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Are Countries of Association of South East Asia Nations (ASEAN) Candidates of Optimum Currency Area for Monetary Union? A Structural VAR Approach

Sin, Lew Yuen; Asam Tuan Lorik, Ku - 2006

and adopting Euro as their common currency in 1999.This paper examines the feasibility of a Optimum Currency Area (OCA … these countries, following the trails of Euro formation. …

Persistent link: https://www.econbiz.de/10009444769

Real Effects of Movements in Nominal Exchange Rates: Application to the Asian Crisis

Yelten, E. Sibel - 2003

This paper analyzes the ad hoc decision of three Asian countries to peg their currency to the U.S. dollar prior to the Asian crisis. It uses the Sjaastad model to estimate the optimal basket weights for Thailand, Korea, and Singapore. The analysis in this paper differs from the optimal basket...

Persistent link: https://www.econbiz.de/10009445694

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

What if the UK has Joined the Euro in 1999? An Empirical Evaluation using a Global VAR

Pesaran, M Hashem; Smith, L Vanessa; Smith, Ron P - 2005

entry to the euro. We derive conditional probability distributions for the difference between the future realisations of …, Pesaran and Smith (2005). The paper briefly describes the GVAR which has been estimated for 25 countries and the euro area … euro area as a result of entry. It examines the sensitivity of these results to a variety of assumptions about UK entry. …

Persistent link: https://www.econbiz.de/10009442008

Two essays on monetary union and international finance

Mahajan, Arvind (contributor); Saving, Thomas (contributor) - 2005

after the introduction of the euro for the EMU countries asopposed to the non-EMU countries. I do not obtain strong evidence … supporting PPP forthe EMU countries since the euro adoption, but the faster mean reversion I observe inthe few EMU countries …) countriesthat adopted the euro, and 3 non-EMU countries] from 1993 to 2002 using a dynamicpanel data model. My main contributions to …

Persistent link: https://www.econbiz.de/10009465029

Exchange rate exposure of U.S. industries

Luangnarumitchai, Jakkapan - 2009

This thesis examines exchange rate exposure of 30 U.S. industries between 1974 and 2008 using traditional and orthogonalized linear models. Similar to the literature, when using traditional linear model we find that exposure is very time dependent and often insignificant. However, we discover...

Persistent link: https://www.econbiz.de/10009475845

Strategic Interactions of Monetary Policymakers and Wage/Price Bargainers: A Review with Implications for the European Common-Currency Area

Franzese, Robert J. - 2001

This paper reviews recent work on macroeconomic management with varying organization of wage/price bargaining and degrees of credible monetary conservatism. The emerging literature synthesizes and extends theory and empirics on central bank independence (CBI) and coordinated wage/price...

Persistent link: https://www.econbiz.de/10009476726

Implications of ERM2 for Poland’s Monetary Policy

Orlowski, Lucjan T.; Rybinski, Kryzstof - 2005

exchange rate stability constraints imposed by the obligatory participation in the ERM2 on the path to the euro. The modified … policy framework is based on targeting the differential between the domestic and the implicit euro area inflation forecasts …

Persistent link: https://www.econbiz.de/10009476869

Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues

Égert, Balázs; Halpern, László; MacDonald, Ronald - 2005

In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss how...

Persistent link: https://www.econbiz.de/10009477512

Europos Centrinio banko veiklos teisinis reguliavimas

Narbutaitė, Gema - 2006

the Euro-zone. Moreover, the EMU creates conditions for economic and monetary stability all over Europe which allows for …

Persistent link: https://www.econbiz.de/10009478178