Narrow search
Showing 1 - 10 of 93
Cover Image
Exchange rates and fundamentals
Engel, Charles; West, Kenneth David - 2003
Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates u0097 that...
Persistent link: https://www.econbiz.de/10009635953
Cover Image
Exchange rate risks and asset prices in a small open economy
Derviz, Alexis - 2004
-determined by a risk factor imperfectly correlated to other priced risks in the economy. The significance of this factor can be … model is put in the state space form. The unobserved variables span the macroeconomic risk factors with an impact on the … comparison of models allowing for an independent OF risk factor with a restricted one, where the forex order flow plays no role …
Persistent link: https://www.econbiz.de/10009636537
Cover Image
Non-fundamental exchange rate volatility and welfare
Straub, Roland; Tchakarov, Ivan - 2004
We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on economic activity and welfare. In the first part of the paper, the GARCH-SVARmodel is applied to measure empirically the effect of the conditional exogenous exchange rate...
Persistent link: https://www.econbiz.de/10009636551
Cover Image
Optimal dynamic risk sharing when enforcement is a decision variable
Koeppl, Thorsten V. - 2003
decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions … prevent first-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …
Persistent link: https://www.econbiz.de/10009635888
Cover Image
Growth expectations, capital flows and international risk sharing
Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003
international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …
Persistent link: https://www.econbiz.de/10009635970
Cover Image
Risk sharing through financial markets with endogenous enforcement of trades
Köppl, Thorsten V. - 2004
When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … allow for optimal risk sharing as long as markets are complete, default is prevented in equilibrium and intermediaries …
Persistent link: https://www.econbiz.de/10009636542
Cover Image
Comparing economic dynamics in the EU and CEE accession countries
Süppel, Ralph - 2003
shocks remain a risk. …
Persistent link: https://www.econbiz.de/10009635910
Cover Image
Fundamentals and joint currency crises
Hartmann, Philipp; Straetmans, Stefan; Vries, Casper de - 2004
In this note we demonstrate that in affine models for bilateral exchange rates, the nature of return interdependence during crises depends on the tail properties of the fundamentals' distributions. We denote crisis linkages as either strong or weak, in the sense that the dependence remains or...
Persistent link: https://www.econbiz.de/10009636547
Cover Image
Late lessons from early warnings
Gee, David (contributor); Guedes Vaz, Sofia (contributor);  … - Europäische Umweltagentur; European Environment Agency - 2002
This report is about gathering information on the hazards raised by human economic activities and its use in taking action to protect better the environment and the health of the species and ecosystems that are dependent on it. The study aims to contribute to better and more accessible...
Persistent link: https://www.econbiz.de/10009635974
Cover Image
Späte Lehren aus frühen Warnungen
Gee, David (contributor); Guedes Vaz, Sofia (contributor);  … - Europäische Umweltagentur; European Environment Agency - 2002
This report is about gathering information on the hazards raised by human economic activities and its use in taking action to protect better the environment and the health of the species and ecosystems that are dependent on it. The study aims to contribute to better and more accessible...
Persistent link: https://www.econbiz.de/10009636105