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How successful are exchange rate communication and interventions? Evidence from time-series and event-study approaches

Fratzscher, Marcel - 2005

The paper analyses whether communication and actual interventions in FX markets are successful in moving exchange rates over the medium- to long-run. It compares empirical evidence based on time-series analysis with that obtained from an eventstudy approach. Both the time-series approach based...

Persistent link: https://www.econbiz.de/10011604574

Cultural effects on inbound tourism into the USA: a gravity approach

Vietze, Christoph - 2008

In this paper we discuss the effects of cultural and particular religious factors on tourist flows into the USA as the … world largest tourism destination. To estimate this empirically we run an augmented gravity equation. Our results give … positive effects on the tourism flows between these countries. In particular, after controlling for a set of geographic …

Persistent link: https://www.econbiz.de/10010263883

US shocks and global exchange rate configurations

Fratzscher, Marcel - 2007

The paper analyses the heterogeneity in the link between macroeconomic fundamentals and exchange rates. For a set of important US-specific economic shocks, it shows that such shocks have exerted a remarkably heterogeneous effect on global exchange rate configurations over the past 25 years....

Persistent link: https://www.econbiz.de/10011604881

Sources of Euro Real Exchange Rate Fluctuations: What Is Behind the Euro Weakness in 1999-2000?

Gottschalk, Jan; Döpke, Jörg; Kamps, Christophe - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10010260459

Exchange rates and outward foreign direct investment: US FDI in emerging economies

Udomkerdmongkol, Manop; Morrissey, Oliver; Görg, Holger - 2008

The paper investigates the impact of exchange rates on US foreign direct investment (FDI) flows to a sample of 16 emerging market countries using annual panel data for the period 1990-2002. Three separate exchange rate effects are considered: the value of the local currency (a cheaper currency...

Persistent link: https://www.econbiz.de/10010273986

The Euro/Dollar exchange rate: Chaotic or non-chaotic?

Federici, Daniela; Gandolfo, Giancarlo - 2011

The aim of this paper is to develop a continuous time exchange rate model that allows for heterogeneity of the agents' beliefs, in order to explore non-linearities and possible chaotic behaviour. The theoretical model contains an intrinsic non-linearity that gives rise to a jerk differential...

Persistent link: https://www.econbiz.de/10010274880

Financial integration and the wealth effect of exchange rate fluctuations

Tille, Cédric - 2005

A growing body of research emphasizes the direct impact of exchange rate movements on the value of U.S. foreign assets. Because a substantial amount of U.S. assets are denominated in foreign currencies, a depreciation of the dollar leads to large capital gains. First, we present a detailed...

Persistent link: https://www.econbiz.de/10010283425

What explains global exchange rate movements during the financial crisis?

Fratzscher, Marcel - 2009

A striking and unexpected feature of the financial crisis has been the sharp appreciation of the US dollar against virtually all currencies globally. The paper finds that negative US-specific macroeconomic shocks during the crisis have triggered a significant strengthening of the US dollar,...

Persistent link: https://www.econbiz.de/10011605106

Analyse, Bewertung und Sicherung alpiner Freiräume durch Raumordnung und räumliche Planung

Job, Hubert; Mayer, Marius; Haßlacher, Peter; Nischik, Gero - 2017

Alpine Freiräume werden zusehends knapper. Diese Aussage gilt in den Alpen für den naturgemäß raren Dauersiedlungsraum, der z. B. in Tirol nur 11,8 % des Staatsgebietes umfasst. Die Bevölkerung wächst in vielen Talschaften und damit auch die erforderliche Infrastruktur. Aber auch die...

Persistent link: https://www.econbiz.de/10011641359

Investment in Tourism Market: A Dynamic Model of Differentiated Oligopoly

Cellini, Roberto; Candela, Guido - 2004

We present a theoretical model in tourism economics, assuming that the market for tourism is an oligopoly with … capacity that can be interpreted as the stock of physical, natural or cultural resources. Tourism flows yield current revenues … questions, like the choice between mass- vs. elite-tourism development strategies; the effect of the number of competing …

Persistent link: https://www.econbiz.de/10011324900

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