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We characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans both developed and emerging market economies. Measured ex post uncovered interest differentials are then related to measures of trade and financial...
Persistent link: https://www.econbiz.de/10003855141
This paper employs the GMM estimator to empirically investigate the effects of Japanese international reserves on Yen internationalization from 1976 through 2009 by specifying the regression benchmark based on the long-run determinants of Yen internationalization with economic power, Yen...
Persistent link: https://www.econbiz.de/10013138172
We examine the effect of competition on exchange rate exposure using survey data from 55 countries. We find that exposure increases with the intensity of competition. Exposure is higher when firms face price competition in international and domestic product markets and when rivals compete using...
Persistent link: https://www.econbiz.de/10013052786
We evaluate the effect of exchange rate misalignments on the balance of trade and the role that global value chain participation plays in this effect for 11 new European Union member states. Using heterogeneous panel cointegration methods, we first estimate the real equilibrium exchange rate and...
Persistent link: https://www.econbiz.de/10012242810
How does global risk impact the world economy? In taking up this question, we focus on the dollar’s role in the …
Persistent link: https://www.econbiz.de/10013310676
in a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the …
Persistent link: https://www.econbiz.de/10014064411
The term globalisation has gained widespread popularity; yet most treatments are either descriptive and/or focused on changes in economic interconnectivity. This book brings together leading international experts from a range of disciplines to develop a long-term analysis to address the problems...
Persistent link: https://www.econbiz.de/10003566262
Persistent link: https://www.econbiz.de/10003826402
The policy Trilemma (the ability to accomplish only two policy objectives out of financial integration, exchange rate stability and monetary autonomy) remains a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange rate stability...
Persistent link: https://www.econbiz.de/10008908358
The recent fiscal crisis in the EU and the slow-down of the BRICS countries have raised world-wide concerns about …
Persistent link: https://www.econbiz.de/10014037596