Artículo de revista ; On 7 September 2021, El Salvador became the first jurisdiction to adopt bitcoin as legal tender. This initiative has raised as much enthusiasm as it has scepticism and potentially opens the door for other countries to follow suit. The initiative is underpinned by a law...

Artículo de revista ; The interest taken by central banks, and by society at large, in central bank digital currencies (CBDCs) has grown notably in recent years. Although the greatest efforts have focused on studying and experimenting on a new class of monetary liability with universal access...

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...

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,...

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...

The need for external capital (FDI) inflow to finance the current account deficit of developing countries cannot be over-emphasized. Foreign direct investment takes predominance over other types of capital inflow into developing countries. How would an increase in FDI and a reduction in import...

Ao longo do período 2000/2007 o setor externo do agronegócio brasileiro encontrou uma conjuntura altamente favorável para o aumento de suas exportações, pois se combinou uma situação de forte expansão da economia mundial com elevação dos preços internacionais de commodities. No...

This paper attempts to examine the relationship between changes and volatility of China's RMB exchange rates and its agricultural export. A model is constructed to analyze the effect of RMB exchange rate movements on agricultural exports facing two constraints including China's particular...

The agri-food trade between Mexico and the United States grew substantially after the implementation of NAFTA in 1994. While some analysts argue that NAFTA has contributed the most to the dramatic expansion of this trade, others have emphasized the role played by the exchange rate in this...

In previous literature, the degree of exchange rate pass-through to importing country’s currency has often been found to be incomplete, which supports the idea of imperfect competition in the forest products markets. In this study, exchange rate pass-through is examined by employing a mark-up...