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Detection of implicit fluctuation bands and their credibility in EU candidate countries

Sosvilla-Rivero, Simón; Ramos-Herrera, María del Carmen - In: Baltic journal of economics 15 (2015) 1, pp. 18-37

This paper attempts to identify implicit exchange-rate regimes for currencies of candidate countries vis-à-vis the euro. To that end, we apply three sequential procedures that consider the dynamics of exchange rates to data covering the period from 1999:01 to 2012:12. Our results would suggest...

Persistent link: https://www.econbiz.de/10011890541

Catching up : the role of demand, supply and regulated price effects on the real exchange rates of four accession countries

MacDonald, Ronald; Wójcik, Cezary - 2003

The main aim of this paper is to examine the exchange rate behavior of a group of four transitional, EU accession countries, with a view to making policy recommendations regarding their accession to full European Monetary Union. We employ a dynamic OLS panel estimator to investigate the relative...

Persistent link: https://www.econbiz.de/10011506491

Estimating exchange rate dynamics with diffusion processes: an application to Greek EMU data

Trede, Mark; Wilfling, Bernd - In: Empirical Economics 33 (2007) 1, pp. 23-39

Persistent link: https://www.econbiz.de/10005758358

The importance of accounting for time trends when estimating the Euro effect on trade

Bun, Maurice J. G.; Klaassen, Franc - 2004

To study the effect of the euro on international goods trade one typically estimates a panel model for the level of trade. Trade levels increase over time, and we show that this is not fully explained by the included regressors. Because the euro is only present at the end of the sample, this may...

Persistent link: https://www.econbiz.de/10011334328

OCA theory and EMU eastern enlargement : an empirical application

Weimann, Marco - 2002

worse suitable for EMU membership than the current participants. The theory of optimum currency areas provides several … the current EMU we use a structural VAR approach in order to identify economic shocks that hit the countries to be …

Persistent link: https://www.econbiz.de/10010506205

OCA theory and EMU Eastern enlargement : an empirical application

Weimann, Marco - 2003 - This version: April 2003

years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the … present EMU and use a structural VAR approach to evaluate EMU suitability of the candidate countries. To correct for the …

Persistent link: https://www.econbiz.de/10010503148

Exchange rate regimes and fiscal discipline in OECD countries

Heinemann, Friedrich - 1999

Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to … the fiscal balance - a result backing an optimistic view on fiscal discipline under EMU. On the other hand, however, there … is the result that a high degree of openness has a deficit reducing impact. This is a worrying result in the EMU context …

Persistent link: https://www.econbiz.de/10011442384

Sources of euro real exchange rate fluctuations : what is behind the euro weakness in 1999-2000?

Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10011473872

Do speculative traders anticipate or follow USD/EUR exchange rate movements? : new evidence on the efficiency of the EUR currency futures market

Hossfeld, Oliver; Röthig, Andreas - 2015

We address the question of whether various types of speculative investor correctly anticipate future USD/EUR currency movements or whether they tend rather to react to past exchange rate movements. Throughout the analysis, we differentiate between large and small traders, and an upper bound of...

Persistent link: https://www.econbiz.de/10011391722

Does the Canadian economy suffer from Dutch disease?

Beine, Michel; Bos, Charles S.; Coulombe, Serge - 2009

We argue that the failure to disentangle the evolution of the Canadian currency from the U.S. currency leads to potentially incorrect conclusions regarding the case of Dutch disease in Canada. We propose a new approach that is aimed at extracting both currency components and energy- and...

Persistent link: https://www.econbiz.de/10011379360

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