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External adjustment with a common currency: the case of the euro area
Fuertes Mendoza, Alberto
This paper analyzes the behaviour of the external adjustment path for the four main economies in the euro area. I find a structural break in the behaviour of the net external position at the time of the introduction of the euro for France, Italy and Spain, pointing out that the inception of the...
Persistent link: https://www.econbiz.de/10012523685
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Exchange rate regime and external adjustment : an empirical investigation for the U.S
Fuertes Mendoza, Alberto - 2017
Este trabajo analiza la relación entre la posición externa neta de Estados Unidos y el régimen de tipo de cambio. Se detecta una ruptura estructural en la posición externa neta de Estados Unidos al final del sistema de tipo de cambio fijo de Bretton Woods, que modificó tanto la media como...
Persistent link: https://www.econbiz.de/10012530556
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A comprehensive approach for currency crises theories stressing the role of the anchor country
Ganz, Verena - 2008
The approach is based on the finding that new generations of currency crises theories always had developed ex post after popular currency crises. Discussing the main theories of currency crises shows their disparity: The First Generation of currency crises models argues based on the assumption...
Persistent link: https://www.econbiz.de/10009433694
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Die Bedeutung der hollowing-out Hypothese vor dem Hintergrund einer polit-ökonomischen Analyse der Wechselkursregimewahl
Pfeifer, Günther - 2005
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
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Fiscal policy under alternative exchange rate regimes : on the specification of money demand in new open economy macroeconomics
Steffen, Dirk - 2005
The transmission of monetary and fiscal policies in an international context is one of the most prominent topics in the realm of international finance. In particular, researchers are interested in the effects of the respective policy on exchange rate movements, international price level...
Persistent link: https://www.econbiz.de/10009475313
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Monetary and Fiscal Policies in Currency Board Systems and Monetary Unions
Grimm, Oliver - 2007
In der vorliegenden Arbeit beschäftige ich mich mit der theoretischen Analyse von Geld- und Fiskalpolitik in Currency-Board-Systemen und der Währungsunion. Beide Währungssysteme haben seit den neunziger Jahren zunehmend an Bedeutung gewonnen, Currency Boards durch die Rückgewinnung der...
Persistent link: https://www.econbiz.de/10009476166
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Firm-level exchange rate exposure in the Eurozone
Hutson, Elaine; O'Driscoll, Anthony
Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone … European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non … Eurozone countries, so the advent of the euroappears to have been associated with a shift in exchange risk from systematic to …
Persistent link: https://www.econbiz.de/10009475709
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Valuation Effects and External Adjustment
Nguyen, Ha Minh - 2009
In the past two decades, cross country portfolio holdings of a large variety of assets have risen sharply. This has created an important role for changes in asset prices, or valuation effects". This dissertation examines the role of valuation effects in a country's external adjustment. The...
Persistent link: https://www.econbiz.de/10009450783
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On domestic demand and export performance in the euro area countries : does export concentration matter?
Soares, Paulo; Prades Illanes, Elvira - 2017
Durante las crisis económicas, la debilidad de la demanda doméstica se ha mostrado como un determinante adicional para explicar la evolución de las exportaciones. Las empresas, con el fin de compensar la debilidad del mercado doméstico, optan por llevar a cabo un mayor esfuerzo para aumentar...
Persistent link: https://www.econbiz.de/10012530558