Many countries have moved towards more flexible exchange rate regimes over the last decade to take advantage of greater monetary policy autonomy and flexibility in responding to external shocks. Some reluctance to let go of pegged exchange rates persists, however, despite the benefits of...

The proliferation of foreign exchange (FX) swaps as a source of funding and as a hedging tool has focused attention on the role of the FX swap market in the recent crisis. The turbulence in international money markets spilled over into the FX swap market in the second-half of 2007 and into 2008,...

Well-known empirical puzzles in international macroeconomics concern the large divergence of equilibrium outcomes for consumption across countries from the predictions of models with full risk sharing. It is commonly believed that these risk-sharing puzzles are related to another empirical...

Policy makers have expressed interest in fostering the development of local foreign exchange derivatives markets with a view to reducing risks arising from currency mismatches between assets and liabilities in the corporate sector. This paper assesses foreign exchange exposure in the corporate...

This paper develops a two-country monetary DSGE model in which households choose a portfolio of home and foreign equities, and a forward position in foreign exchange. Some nominal goods prices are sticky. Trade in these assets achieves the same allocations as trade in a complete set of nominal...

Australian farmers have been warned of increases in wool auction price fluctuations since 2000 (Kingwell), yet 85% of producers continue to sell their wool on the highly volatile, open-cry auction system (Bolt 2004). It has been suggested that forward selling is one method available to farmers...

In diesem Beitrag wird der deutsche Außenhandel mit Produkten der Agrar- und Ernährungswirtschaft in einem Gravitationsmodell analysiert. Ziel ist es, die relevanten Bestimmungsgründe für den Außenhandel mit diesen Produkten zu identifizieren und zu quantifizieren. Ein Schwerpunkt liegt in...

Pulse production in the United States has become geographically specific and concentrated, and the marketing channels for pulses have changed dramatically over the past 30 years. The most marked change has be~n the growth of large proprietary marketing firms which are vertically integrated as...

Western-European consumers have become not only more demanding on product availability in retail outlets but also on other food attributes such as quality, integrity, and safety. When (re)designing food supply-chain networks, from a logistics point of view, one has to consider these demands next...