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The Effect of China's RMB Exchange Rate Movement on Its Agricultural Export: A Case Study of Export to Japan

Longjiang, Chen Jr - 2009

This paper attempts to examine the relationship between changes and volatility of China's RMB exchange rates and its … constraints including China's particular exchange rate system and TBT / SPS in agricultural trade. The model reveals that the net … depreciation) effect and exchange rate risk effect.Taking China’s agricultural exports to Japan as a case, this paper makes an …

Persistent link: https://www.econbiz.de/10009444761

The difficulty of discerning what's too tight: Taylor rules and Japanese monetary policy

Posen, Adam; Kuttner, Kenneth - 2003

Observers have relied increasingly on simple reaction functions, such as the Taylor rule, to assess the conduct of monetary policy. Applying this approach to deflationary or near-zero inflation environments is problematic, however, and this paper examines two shortcomings of particular relevance...

Persistent link: https://www.econbiz.de/10009472315

Real-Time Time-Varying Equilibrium Interest Rates: Evidence on the Czech Republic

Horváth, Roman - 2006

This paper examines (real-time) equilibrium interest rates in the Czech Republic in 2001:1- 2005:12 estimating various specifications of simple Taylor-type monetary policy rules. First, we estimate it using GMM. Second, we apply structural time-varying coefficient model with endogenous...

Persistent link: https://www.econbiz.de/10009476886

How European is the European Central Bank's Monetary Policy?

Petrova, Teodora D. - 2010

Ever since its establishment in 1999, the European Central Bank worked on maintaining relative price stability mainly through inflation targeting. The ECB aims at a target inflation rate below but close to 2%. However, the diversity among the member states in the European Union and the Eurozone...

Persistent link: https://www.econbiz.de/10009449317

The Taylor rule and dynamic stability in a small macroeconomic model

Chappell, David; Turner, Paul - 2003

In this paper we embed the Taylor interest rate rule in a simple macroeconomic model with Calvo contracts. We contrast this with the case in which the interest rate is determined by the conventional LM curve along with a fixed value for the monetary aggregate. We derive conditions under which...

Persistent link: https://www.econbiz.de/10009461225

AN ANALYSIS ON MONETARY CONDITION INDEX IN TURKEY BY USING STRUCTURAL VAR ANALYSIS

AÇCI, Yunus; TASAR, Izzet - 2016

The Central Bank of Turkey (TCMB) has a significant power on aggregate demand and inflation expectation via monetary policy tools. While deciding monetary policies it’s a crucial question and a discussion topic for TCMB (Turkish Republic Central Bank) if the policy makers should take into...

Persistent link: https://www.econbiz.de/10011529234

Two essays on monetary policy under the Taylor rule

Goldberg, Dror (contributor); Li, Qi (contributor) - 2004

In this dissertation, two questions concerning monetary policy under the Taylor rule have been addressed. The ﬁrst question is on, under the Taylor rule, whether a central bank should be responsible for both bank supervision and monetary policy or whether the two tasks should be exercised by...

Persistent link: https://www.econbiz.de/10009464972

Performance evaluation of judgemental directional exchange rate predictions

Pollock, Andrew C.; Macaulay, Alex; Thomson, Mary E.; … - 2005

A procedure is proposed for examining different aspects of performance for judgemental directional probability predictions of exchange rate movements. In particular, a range of new predictive performance measures is identified to highlight specific expressions of strengths and weaknesses in...

Persistent link: https://www.econbiz.de/10009435350

Is there timing ability in currency markets? Evidence from ADR issuances

Zhu, Qiaoqiao; Pasquariello, Paolo - 2010

Is there timing ability in the exchange rate markets? We address this question by examining foreign firms' decisions to issue American Depositary Receipts (ADRs). Specifically, we test whether foreign firms consider currency market conditions in their ADR issuance decisions and, in doing so,...

Persistent link: https://www.econbiz.de/10009438148

The Role of Exchange Rates in the Intertemporal Risk-Return Relation in International Economies

Bali, Turan G.; Wu, Liuren - 2005

This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 countries. Similar to the findings of previous studies, our estimation also shows that the financial markets of the G7 countries are integrated. We obtain significant pricing...

Persistent link: https://www.econbiz.de/10009440704

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