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In August 1998 the Russian foreign exchange market and financial system collapsed. As a consequence the rouble devaluated in real terms against the currencies of the main trade partners, generating an output push in the agri-food sector. This improved the financial health of most producer, thus...
Persistent link: https://www.econbiz.de/10010299436
mittel- und osteuropäischen EU-Beitrittskandidaten (Polen, Tschechische Republik, Ungarn, Slowenien und Estland). Das hier …This paper is part of a research project on monetary integration of five EU-accession candidates (Poland, Czech …
Persistent link: https://www.econbiz.de/10010300396
Transformationsländer (Tschechische Republik, Ungarn, Estland, Slowenien und Polen), die an einer baldigen Aufnahme in die EWWU interessiert … (Kosten und Nutzen des Beitritts) für eine bestmögliche Strategie der Wechselkurspolitik der Beitrittskandidaten zur … Republic, Hungary, Estonia, Slovenia and Poland) which are interested in becoming soon members of EMU. The approach chosen …
Persistent link: https://www.econbiz.de/10010300401
mittel- und osteuropäischen EU-Beitrittskandidaten (Estland, Polen, Slowenien, Tschechische Republik und Ungarn). Während die …, Estonia, Hungary, Poland and Slovenia). While the preceding chapters of the project have focused on the pros and cons of …
Persistent link: https://www.econbiz.de/10010300402
This paper builds a DSGE model for a SOE in which the central bank systematically intervenes both the domestic currency bond and the FX markets using two policy rules: a Taylor-type rule and a second rule in which the operational target is the rate of nominal currency depreciation. For this, the...
Persistent link: https://www.econbiz.de/10010325096
This paper deals with two related issues: the sustainability of China’s exchange rate regime and the opening up of its capital account. The exchange rate discussion deliberately passes over the issue of the “equilibrium” value of the renminbi and its alleged undervaluation – typically at...
Persistent link: https://www.econbiz.de/10011606234
Germany is an undervaluation regime, a regime that steers economic behavior towards deterioration of the real exchange rate and thereby towards export surpluses. This regime has brought the eurozone to the brink of collapse. But it is much older than the euro. It was established during the...
Persistent link: https://www.econbiz.de/10011971596
This paper explores the impact of New Zealand's exchange rate variability on the tradable sector, and policy options for dampening exchange rate variability. It finds that exchange rate variability in the medium term is likely to have a negative impact on the tradable sector. However, the link...
Persistent link: https://www.econbiz.de/10012115626
This paper analyzes China's economic performance in the last 25 years and discusses its prospect for growth in the future. China has enjoyed high annual GDP growth rates of about ten percent in the last 25 years. Exports and investment were the two driving forces of the growth process. FDI plays...
Persistent link: https://www.econbiz.de/10010273126
This paper discusses the global financial crisis of 2008/9 in thirteen countries, the ten new EU members that previously were communist and the three countries of Western former Soviet Union. Their problems were excessive current account deficits and private foreign debt, currency mismatches,...
Persistent link: https://www.econbiz.de/10011430838