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Bank of England interest rate announcements and the foreign exchange market
Melvin, Michael; Saborowski, Christian; Sager, Michael; … - 2009
Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We examine evidence of systematic patterns in exchange rate movements on MPC days over the first decade of operation of the MPC. Daily data reveal significant differences in...
Persistent link: https://www.econbiz.de/10010264608
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Biases in FX-Forecasts: Evidence from Panel Data
Audretsch, David B.; Stadtmann, Georg - 2005
In this paper, we use the Wall Street Journal poll of FX forecasts to analyze how the group of forecasters form their expectations. One focus is whether forecasters build rational expectations. Furthermore, we analyze whether the group of forecasters can be regarded as homogeneous or...
Persistent link: https://www.econbiz.de/10010296155
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Cointegration in the foreign exchange market and market efficiency since the introduction of the Euro: Evidence based on bivariate cointegration analyses
Kühl, Michael - 2007
The aim of this paper is to investigate the market efficiency on the foreign exchange market since the introduction of the Euro by applying the cointegration analysis to exchange rates. The introduction of the Euro has changed the structure of the global foreign exchange market to the extent...
Persistent link: https://www.econbiz.de/10010300150
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The interplay between money market development and changes in monetary policy operations in small European countries, 1980 - 2000
Forssbæck, Jens; Oxelheim, Lars - 2007
market-based instruments. The process of financial deregulation is uniform across the countries. The path of money market …
Persistent link: https://www.econbiz.de/10010335629
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Der Kommissionsvorschlag zur Deregulierung des Handwerks - Eine kritische Einschätzung der ökonomischen Literatur
Lankau, Matthias; Müller, Klaus - 2015
auf die bereits vorliegenden Forschungen zur Deregulierung durch die HwO-Novelle 2004 stützen könne. Jüngste Forschungen … sich nicht belegen, dass die Deregulierung des Handwerks seit 2004 zu einem Beschäftigungswachstum geführt habe. Die …. This report seeks to summarize the theoretical and empirical literature on licensing deregulation. We will critically …
Persistent link: https://www.econbiz.de/10011964150
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Monetary policy and real estate prices: A disaggregated analysis for Switzerland
Berlemann, Michael; Freese, Julia - 2010
Most empirical studies found that monetary policy has a significant effect on house prices while stock markets remain unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the real estate market. Employing a new dataset for...
Persistent link: https://www.econbiz.de/10010289022
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Causes and consequences of merger waves
Kleinert, Jörn; Klodt, Henning - 2002
that sectoral shocks are at the root of merger waves. Deregulation and globalization are identified as the shocks …
Persistent link: https://www.econbiz.de/10010271917
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On the nonlinear influence of Reserve Bank of Australia interventions on exchange rates
Reitz, Stefan; Ruelke, Jan C.; Taylor, Mark P. - 2010
This paper applies nonlinear econometric models to empirically investigate the effectiveness of the Reserve Bank of Australia (RBA) exchange rate policy. First, results from a STARTZ model are provided revealing nonlinear mean reversion of the Australian dollar exchange rate in the sense that...
Persistent link: https://www.econbiz.de/10010300359
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The golden hello and political transitions
Aidt, Toke; Albornoz, Facundo; Gassebner, Martin - 2012
We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version of Acemoglu and Robinson's [American Economic Review 91, 2001] model of political transitions to show how the anticipation of new loans from international financial...
Persistent link: https://www.econbiz.de/10010319723
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Monetary policy and the current account: Theory and evidence
Hjortsoe, Ida; Weale, Martin; Wieladek, Tomasz - 2016
Does the current account improve or deteriorate following a monetary policy expansion? We examine this issue theoretically and empirically. We show that a standard open economy DSGE model predicts that the current account response to a monetary policy shock depends on the degree of economic...
Persistent link: https://www.econbiz.de/10011784597