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imbalance inevitably results in a currency crisis. Altogether, this theory argues with a disrupted external balance on the … for the stability of fixed exchange rate systems, in exchange rate theory as well as in empirical observations. Altogether … country, the real effective exchange rate and a risk premium.Applying this theory framework, four constellations are discussed …
Persistent link: https://www.econbiz.de/10009433694
-establish credibility during periods of hyperinflation or of economic transition. The importance of monetary unions is a consequence of the … nevertheless a currency board has a credibility advantage compared to a standard fixed exchange rate regime when the time …
Persistent link: https://www.econbiz.de/10009476166
Does emigration really drain human capital accumulation in origin countries? This paper explores a unique household survey purposely designed and conducted to answer this specific question for the case of Cape Verde. This is allegedly the African country suffering from the largest "brain drain",...
Persistent link: https://www.econbiz.de/10012530246
-back positions and outside options); they affect the nature of the bargaining process itself. This approach leads to a new theory of …
Persistent link: https://www.econbiz.de/10009441370
. Inflation and interest rate expectations data and forward interest rate data are used to demonstrate the increased credibility …
Persistent link: https://www.econbiz.de/10009441502
information through these quality signals and consumer choices. In this paper, we explore 1) whether the credibility of an … representative sample of 460 US consumers and analyzed through structural equation modeling. The results show that credibility …
Persistent link: https://www.econbiz.de/10009444571
Obstfeld (1994) shows that a currency crisis can be explained by the occurrence of multiple equi-libria (2 interior equilibria). For the same level of economic fundamentals, it may be optimal forthe government either to devalue or to maintain the peg. The decision depends on the...
Persistent link: https://www.econbiz.de/10009465475
.In order to test the identified factors for effective corporate online communication, namely credibility, trust and long …
Persistent link: https://www.econbiz.de/10009457824
neu entwickelter Ansatz verfolgt, der primär auf dem Gedankengut der Ökonomischen Theorie der Politik aufbaut und aus dem …
Persistent link: https://www.econbiz.de/10009451145
Since the beginning, central banks have used a wide range of instruments to achieve their ultimate purpose of price stability. One measure in the authorities’ toolbox is a foreign exchange market intervention. The discussion about this instrument has come a long way. So far, the discussion...
Persistent link: https://www.econbiz.de/10009433706