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International capital flow pressures and global factors
Goldberg, Linda S.; Krogstrup, Signe - 2023
The risk sensitivity of international capital flow pressures is explored using a new Exchange Market Pressure index that combines pressures observed in exchange rate adjustments with model-based estimates of incipient pressures that are masked by foreign exchange interventions and policy rate...
Persistent link: https://www.econbiz.de/10013548958
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China, India, Brazil, and South Africa : capital flows and exchange rates ; what lessons have been learnt since the East Asian crisis of 1997-8?
Pircher, Marion - In: Southern engines of global growth, (pp. 172-206). 2010
Persistent link: https://www.econbiz.de/10003965633
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Leaning against the global financial cycle
Ferrero, Andrea; Habib, Maurizio Michael; Stracca, Livio; … - 2022
We study the role and the interaction of the quality of institutions and of counter-cyclical policies in leaning against the Global Financial Cycle (GFC) in Emerging Economies (EMEs). We show that heteroegeneity in institutional strength is a key determinant of the different effects of the GFC...
Persistent link: https://www.econbiz.de/10013488632
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China's Evolving Exchange Rate Regime
Das, Sonali - 2019
China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The …
Persistent link: https://www.econbiz.de/10012889144
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Capital Flows and Foreign Exchange Intervention
Cavallino, Paolo - 2017
Abstract I consider a small open economy model where international financial markets are imperfect and the exchange rate is determined by capital flows. I use this framework to study the effects of portfolio flow shocks, derive the optimal foreign exchange intervention policy, and...
Persistent link: https://www.econbiz.de/10012972457
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Unconventional monetary policy under appreciation pressure : the role of financial frictions
Aregger, Nicole; Leutert, Jessica - 2017 - This draft: September 2017
We build a two-country model with imperfect financial intermediation. Banks face limits to arbitrage which lead to positive excess returns in the investment markets and a risk premium in the international credit market. Gross capital flows affect the exchange rate since banks are balance sheet...
Persistent link: https://www.econbiz.de/10011742713
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Global financial integration and central bank policies in small, open economies
Guðmundsson, Már - In: The Singapore economic review : journal of the Economic … 62 (2017) 1, pp. 135-146
Persistent link: https://www.econbiz.de/10011702111
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A Market-based Measure for Currency Risk in Managed Exchange Rate Regimes
Eichler, Stefan - 2018
We introduce a novel currency risk measure based on American Depositary Receipts (ADRs). Using an augmented ADR pricing model, we exploit investors' exposure to potential devaluation losses to derive an indicator of currency risk. Using weekly data for a sample of 807 ADRs located in 21 emerging...
Persistent link: https://www.econbiz.de/10012936447
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Financial integration in asset and liability holdings in East Asia
Park, Donghyun; Shin, Kwanho - 2015
In this paper, we examine the evolution of intra-East Asian financial integration from 2001 to 2013. Most existing studies on this topic look primarily at asset holdings; we examine liability holdings as well. Using the International Monetary Fund's Coordinated Portfolio Investment Survey data...
Persistent link: https://www.econbiz.de/10011317818
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Internationalising the currency while leveraging massively : the case of China
García Herrero, Alicia - 2015
This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account …, China's debt has doubled, reaching levels that are clearly above those of most emerging markets. This increases the risks … embedded in financial reform and, in particular, capital account liberalisation. At this juncture, however, China has no option …
Persistent link: https://www.econbiz.de/10011384045