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Interest rate and exchange rate volatility spillovers : multiscale perspective of monetary policy transmission in Ghana
Akosah, Nana Kwame; Alagidede, Paul; Schaling, Eric - In: Journal of central banking theory and practice 9 (2020) 1, pp. 135-167
Persistent link: https://www.econbiz.de/10012167220
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Exchange Rate Stabilization in the Erm : Identifying European Monetary Policy Reactions
Kim, Soyoung - 2001
The structural VAR models for European countries (France, Denmark, and Germany) are developed to examine the monetary policy reactions, especially the within-ERM exchange rate stabilization, during the ERM period. First, impulse responses of monetary instrument and the exchange rate to shocks...
Persistent link: https://www.econbiz.de/10014139848
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Exchange rate and price dynamics at the zero lower bound : conference paper
Bäurle, Gregor; Kaufmann, Daniel - 2013
permanent shifts of the exchange rate and the price level if a central bank anchors long-run inflation expectations. In line …-run price level target rather than a long-run inflation target avoids these permanent shifts of the exchange rate and the price …
Persistent link: https://www.econbiz.de/10010340556
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Exchange rate and inflation under weak monetary policy : Turkey verifies theory
Gürkaynak, Refet S.; Kısacıkoğlu, Burçin; Lee, … - 2022 - This Draft: April 20, 2022
experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the "standard model" suffice to explain the broad contours of macroeconomic outcomes in …
Persistent link: https://www.econbiz.de/10013197326
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The Moses Effect : Can Central Banks Really Guide Foreign Exchange Markets?
Roy Trivedi, Smita - 2020
Central banks seek to guide the foreign exchange market through interventions. However, the success of the central bank in guiding the forex markets, much like the biblical Moses, depends on the differing perceptions and resulting bid–ask spreads of market participants following intervention....
Persistent link: https://www.econbiz.de/10012845417
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Central bank information shocks and exchange rates
Franz, Thorsten - 2020 - This version: February 2020
The dynamic effects of ECB announcements, disentangled into pure monetary policy and central bank information shocks, on the euro (EUR) exchange rate are examined using a Bayesian Proxy Vector Autoregressive (VAR) model fed with high-frequency data. Contractionary monetary policy shocks result...
Persistent link: https://www.econbiz.de/10012180641
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Exchange rate pass-through in Russia
Ponomarev, Jurij; Trunin, Pavel V.; Uljukaev, Aleksej V. - 2014
The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...
Persistent link: https://www.econbiz.de/10011398366
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Inflation targeting in Colombia, 2002 - 2012
Urrutia, Miguel; Hofstetter Gascón, Marcel; Hamann S., … - 2014
crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …
Persistent link: https://www.econbiz.de/10011285649
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Exchange rate floor and central bank balance sheets : simple spillover tests of the Swiss franc
Alvero, Adrien; Fischer, Andreas M. - 2016
This paper examines spillover and spillback effects of unconventional monetary policies conducted by the European Central Bank (ECB) and Swiss National Bank (SNB) on the exchange rate's distribution. The empirical setup examines the price response of EURCHF risk reversal to a change in ECB and...
Persistent link: https://www.econbiz.de/10011538673
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Foreign Exchange Interventions as an (Un)Conventional Monetary Policy Tool
Lízal, Lubomír - 2014
The zero level of interest rates constitutes a limit of this standard monetary policy instrument. Based on the example of the Czech Republic we argue that in such a situation foreign exchange interventions represent a meaningful monetary policy tool for small open economies not facing serious...
Persistent link: https://www.econbiz.de/10013049983