Market analysts and central banks often use the implied volatility of FX options as an indicator of expected exchange rate uncertainty. The aim of our study is to investigate the limits of this statistic. We present some key factors that may deviate the value of implied volatility from the...

This paper tests whether the exchange rates of the Czech koruna, the Hungarian forint, and the Polish zloty were anchored by market expectations concerning their euro locking rates. First, the process of the exchange rate is derived as a function of the following factors: (i) latent exchange...

This paper investigates the forecasting ability of survey data on exchange rate expectations with multiple forecast horizons. The survey forecasts are on the exchange rates of five Central and Eastern European currencies: Czech Koruna, Hungarian Forint, Polish Zloty, Romanian Leu and Slovakian...

In den deutschen Volkswirtschaftlichen Gesamtrechnungen (VGR) wurde bisher das reale Bruttoinlandsprodukt (BIP) in konstanten Preisen eines Basisjahres nachgewiesen (Festpreisbasis). Auf der Grundlage der Entscheidung der EU-Kommission vom 30. November 1998 wird bei der nächsten anstehenden...