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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 … of the conditional exogenous exchange rate volatility on the conditional mean of the endogenous variables in our open … empirically. In the second part, we investigate the effect of non-fundamental exchange rate volatility in a stochastic open …
Persistent link: https://www.econbiz.de/10009636551
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Comparing economic dynamics in the EU and CEE accession countries
Süppel, Ralph - 2003
This paper presents evidence for structural differences in economic growth dynamics between the current EU and the central- and eastern European accession countries. Two important results emerge from the analysis. First, accession countries have posted higher average growth and wider output...
Persistent link: https://www.econbiz.de/10009635910
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Exchange rate risks and asset prices in a small open economy
Derviz, Alexis - 2004
The paper proposes a multi-factor international asset pricing model in which the exchange rate is allowed to be co-determined by a risk factor imperfectly correlated to other priced risks in the economy. The significance of this factor can be established as long as one is able to observe a proxy...
Persistent link: https://www.econbiz.de/10009636537
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Volatility of interest rates in the euro area
Cassola, Nuno; Morana, Claudio - 2003
This paper estimates the factors underlying the volatility of the euro overnight interest rate and its transmission …'s operational framework for monetary policy implementation. Strong persistence is detected in all log-volatility processes and and …. the second factor explains the transmission of volatility along the money market yield curve. We find evidence that most …
Persistent link: https://www.econbiz.de/10009635972
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Fiscal policy and inflation volatility
Rother, Philipp C. - 2004
Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern …. These include higher risk premia, hedging costs and unforeseen redistribution of wealth. This paper presents panel … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …
Persistent link: https://www.econbiz.de/10009636540
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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
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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
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"Entangled Histories:"
Iordachi, Constantin - 2004
The collapse of the communist regime in Central and South-Eastern Europe gave way to sweeping economic and socio-political changes, marked by the conversion of centrally planned state economies into market economies, political liberalisation and democratisation, as well as to integration into...
Persistent link: https://www.econbiz.de/10009636557
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Evaluation of the Commission of the European Union’s Co-operation with Nepal : Country Level Evaluation ; Final Report ; Volume 1 – Main Report
Meindertsma, Jan Douwe (contributor);  … - PARTICIP GmbH Consultants für Entwicklung und Umwelt, … - 2012
The main objectives of the evaluation are: (i) to be accountable and to provide the relevant external co-operation services of the EC and the wider public with an overall independent assessment of the EC’s past and current co-operation relations with Nepal; and (ii) to identify key lessons in...
Persistent link: https://www.econbiz.de/10011799374