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New Zealand's Exchange Rate Cycles: Impacts and Policy

Mabin, Gemma - 2011

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

International capital flow pressures

Goldberg, Linda S.; Krogstrup, Signe - 2018

rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international …

Persistent link: https://www.econbiz.de/10011942779

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

New Zealand's Exchange Rate Cycles: Evidence and Drivers

Mabin, Gemma - 2010

This paper seeks to understand the extent of New Zealand's exchange rate fluctuations compared to others, and what drives New Zealand's exchange rate. New Zealand has only experienced a limited number of exchange rate cycles since the dollar was floated. On a trade-weighted basis this paper...

Persistent link: https://www.econbiz.de/10012115625

Automating exchange rate target zones: intervention via an electronic limit order book

Melvin, Michael; Menkhoff, Lukas; Schmeling, Maik - 2008

This paper describes and analyzes automated intervention of a target zone. Unusually detailed information about the order book allows studying intervention effects in a microstructure approach. We find in our sample that intervention increases exchange rate volatility (and spread) for the next...

Persistent link: https://www.econbiz.de/10010264306

Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks

Cloyne, James S.; Hürtgen, Patrick; Taylor, Alan M. - 2022

Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify unexpected changes in German monetary policy from 580 policy...

Persistent link: https://www.econbiz.de/10013412978

Währungspolitische Interdependenz der EU-Beitrittskandidaten und die Wahl eines geeigneten Wechselkurssystems

Jochem, Axel - 1999

Der vorliegende Diskussionsbeitrag entstand im Rahmen eines Forschungsprojektes über die monetäre Integration von fünf mittel- und osteuropäischen EU-Beitrittskandidaten (Polen, Tschechische Republik, Ungarn, Slowenien und Estland). Das hier vorgestellte Kapitel geht auf die...

Persistent link: https://www.econbiz.de/10010300396

Die EWWU als Club: Positive und normative Implikationen für den Beitritt mittel- und osteuropäischer Reformstaaten

Sell, Friedrich L. - 1999

sind. Der gewählte Analyseansatz greift auf positive und normative Hinweise der Club Theorie zurück. Es wird zunächst … (Kosten und Nutzen des Beitritts) für eine bestmögliche Strategie der Wechselkurspolitik der Beitrittskandidaten zur … draws on positive and normative hints from club theory. The paper provides an analytical approach to determine ex-ante the …

Persistent link: https://www.econbiz.de/10010300401

A DSGE model for a SOE with systematic interest and foreign exchange policies in wich policymakers exploit the risk premium for stabilization purposes

Escudé, Guillermo - 2013

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

A DSGE model for a SOE with systematic interest and foreign exchange policy in which policymakers exploit the risk premium for stabilization purposes

Escudé, Guillermo J. - 2012

This paper builds a DSGE model for a small open economy (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...

Persistent link: https://www.econbiz.de/10010310074

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