The German meat market is facing considerable changes. Along with the boom of case-ready and discount stores, butchers and smaller retailers loose market shares, and private labels become widely accepted. The consumers' preferences are often neglected by these trends. This contribution discusses...

We re-assess exchange rate prediction using a wider set of models that have been proposed in the last decade: interest rate parity, productivity based models, and a composite specification. The performance of these models is compared against two reference specifications - purchasing power parity...

Exchange rate stability was defined as one of the prerequisites for monetary integration in Europe. In this paper, we analyze recent developments in the volatility of exchange rates of the Central European countries (the Visegrad Group) and a selected group of European Union countries (the...

Covered interest rate parity assumes that there is no risk premium on the hedged returns on currencies. However, empirical evidence indicates that risk premiums are not identically zero, and this is referred to as the forward premium puzzle. We show that there exist market regimes, within which...

The interest rate parity relationship is analysed with and without the inclusion of a time-varying risk premium. A panel data set of returns on Eurocurrency deposits is used to test for a panel unit root as well as for common movements in the risk premia across deposits denominated in different...

An important condition for the transition to the free float and inflation targeting regime is the ability of the Russian Central Bank to pursue an active independent policy of interest rate adjustment. The purpose of this investigation is to analyze the effect produced by the exchange rate...

China has undergone a deep, although gradual, process of reform of its financial system and exchange rate regime while avoiding large speculative inflows and uncontrolled real appreciation through non-monetary anti-inflationary policies, low interest rates and capital account controls. These...