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The damage from clean floats : from an anti-inflationary monetary policy

Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007

experiment. The laboratory experiment avoids measurement errors towhich econometric estimation is subject concerning omitted or … independenceand false synchronicity in decision response lags to stimuli. Our laboratory experiment also embeds a newtheory of … ; IMF ; exchange rate regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary …

Persistent link: https://www.econbiz.de/10003612866

Prominent numbers, indices and ratios in exchange rate determination and financial crashes : in Economists' models, in the field and in the laboratory

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - 2009

. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; prominent …

Persistent link: https://www.econbiz.de/10003867227

Nominalist heuristics and economic theory

Pope, Robin; Selten, Reinhard; Kube, Sebastian - 2009

exchange rate determination. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of …

Persistent link: https://www.econbiz.de/10003867222

Export and benefits of hedging in emerging economies

Broll, Udo; Wahl, Jack E.; Wessel, Christoph - 2009

We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...

Persistent link: https://www.econbiz.de/10003867523

Speculation in the Foreign Exchange : Noise or Information?

Hayward, Rob - 2015

An event study is used to assess the views of Keynes and Friedman on speculation. Speculative extremes are ranked by intensity of sentiment and weight of speculative activity. A unique dataset of risk-reversal skew on option prices is used to measure the intensity of speculative sentiment; the...

Persistent link: https://www.econbiz.de/10013019272

Export and Benefits of Hedging in Emerging Economies

Broll, Udo - 2010

Persistent link: https://www.econbiz.de/10013147872

Ambiguity Aversion : Implications for the Uncovered Interest Rate Parity Puzzle

Ilut, Cosmin L. - 2010

High-interest-rate currencies tend to appreciate in the future relative to low-interest-rate currencies instead of depreciating as uncovered-interest-parity (UIP) predicts. I construct a model of exchange-rate determination in which ambiguity-averse agents face a dynamic filtering problem...

Persistent link: https://www.econbiz.de/10013143360

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

Interest rate rules, exchange market pressure, and successful exchange rate management

Klaassen, Franc; Mavromatis, Kostas - 2016

Central banks with an exchange rate objective set the interest rate in response to what they call "pressure." Instead, existing interest rate rules rely on the exchange rate minus its target. To stay closer to actual policy, we introduce a rule that uses exchange market pressure (EMP), the...

Persistent link: https://www.econbiz.de/10011479735

Model-free measurement of exchange market pressure

Klaassen, Franc; Jager, Henk - 2006

If there is exchange market pressure (EMP), monetary authorities can use the interest rate and official interventions to offset this depreciation tendency, or they can let the exchange rate change. We introduce a new approach to derive how these three variables should be combined to measure EMP....

Persistent link: https://www.econbiz.de/10011350376

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