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Central banks' dilemma : reserve accumulation, inflation and financial instability
Steiner, Andreas - 2010
Central banks' international reserves have increased significantly in the recent past. While this accumulation has been widely perceived as precautionary savings to prevent financial crises, rising reserves might also endanger monetary and financial stability. This paper sheds new light on the...
Persistent link: https://www.econbiz.de/10009660974
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Central banks' dilemma : reserve accumulation, inflation and financial instability
Steiner, Andreas - 2010
Persistent link: https://www.econbiz.de/10008666187
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Exchange rates and the speed of economic recovery : the role of financial development
Fisera, Boris - 2022
We study the influence of the exchange rate on the speed of economic recovery in a sample of 67 developed and developing economies over the years 1989-2019. First, using a cross-sectional sample of 341 economic recoveries, we study the effect of nominal depreciation and real undervaluation on...
Persistent link: https://www.econbiz.de/10013332929
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The Carry Trade and the Adjustment of the Japanese Yen : Evidence from a Markov-Switching Vector Autoregression Model
Colavecchio, Roberta - 2013
Carry trades are speculative activities which involve simultaneously going short a low-rate currency and long a high-rate currency. They are profitable as long as the gains from interest rate differentials are not offset by exchange rate movements. In this paper I investigate the dynamic...
Persistent link: https://www.econbiz.de/10012710700
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New Evidence of J-Curve Phenomenon using Disaggregated Trade Balance Model for Nigeria
badmus, Jamiu - 2021
. This motivates this study to investigate the J-curve phenomenon for bilateral trade between Nigeria and her ten trading …
Persistent link: https://www.econbiz.de/10013215454
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Aggregation, Heterogeneous Autoregression and Volatility of Daily International Tourist Arrivals and Exchange Rates
Chang, Chia-Lin - 2010
for Taiwan, comprising a high proportion of world tourist arrivals to Taiwan, are Japan and USA, which are sources of … international tourist arrivals, daily data from 1 January 1990 to 31 December 2008 are used to model the world price and US$ - New … Taiwan $ and Yen - New Taiwan $ exchange rates, and tourist arrivals from the world, USA and Japan to Taiwan, as well as …
Persistent link: https://www.econbiz.de/10013147805
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Currency exposure, second-moment exchange rate exposure and asymmetric volatility of stock returns : the effects of financial crises on Taiwanese firms
Varga, René Ferenc Franck - In: Journal of applied finance & banking 3 (2013) 2, pp. 15-37
Over the last two decades, a number of financial disasters have occurred due to failure in risk management procedures. If some, as the Asian financial crisis, had a very much more muted global impact (even though they sent shock waves through global financial markets, the main damage were fairly...
Persistent link: https://www.econbiz.de/10009743539
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Money Demand Instability and Real Exchange Rate Persistence in the Monetary Model of USD-JPY Exchange Rate
Hunter, John; Menla Ali, Faek - 2014
This paper proposes a hybrid monetary model of the dollar-yen exchange rate that takes into account factors affecting the conventional monetary model’s building blocks. In particular, the hybrid monetary model is based on the incorporation of real stock prices to enhance money demand stability...
Persistent link: https://www.econbiz.de/10014039290
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The accumulation of foreign exchange by central banks : fear of capital mobility?
Steiner, Andreas - 2010
Foreign exchange holdings by central banks have increased significantly in the recent past. This article explains this development as a result of the liberalization of international capital markets. First, central banks accumulate reserves in order to protect the economy from potentially...
Persistent link: https://www.econbiz.de/10009660975
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The accumulation of foreign exchange by central banks : fear of capital mobility?
Steiner, Andreas - 2010
Persistent link: https://www.econbiz.de/10008698948