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The pricing of FX forward contracts : micro evidence from banks' dollar hedging
Abbassi, Puriya; Bräuning, Falk - 2018 - This version: March 2018
We use transaction-level data on foreign exchange (FX) forward contracts for the period 2014 through 2016 in conjunction with supervisory balance sheet information to study the drivers of banks' dollar hedging costs. Comparing contracts of the same maturity that are initiated during the same...
Persistent link: https://www.econbiz.de/10011911789
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Do China and oil exporters influence major currency configurations?
Fratzscher, Marcel; Mehl, Arnaud - 2008
This paper analyses the impact of the shift away from a US dollar focus of systemically important emerging market economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US dollar exchange rate regimes remain pervasive and...
Persistent link: https://www.econbiz.de/10003825947
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Renminbising China's foreign assets
Cheung, Yin-Wong; Ma, Guonan; McCauley, Robert N. - 2010
Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. This paper discusses the factors shaping the prospects...
Persistent link: https://www.econbiz.de/10003956012
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Exchange rate anchoring : is there still a de facto US dollar standard?
Bracke, Thierry; Bunda, Irina - 2011
rates are pegged or floating, and in the case of pegs, to which anchor currencies they are pegged. To capture the role of … major currencies over time, an aggregate trade-weighted indicator is constructed based on exchange rate regimes of … ; international monetary system ; emerging and developing economies ; global currencies …
Persistent link: https://www.econbiz.de/10009160000
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China's dominance hypothesis and the emergence of a tri-polar global currency system
Fratzscher, Marcel; Mehl, Arnaud - 2011
This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China's "dominance hypothesis", i.e. whether the renminbi is already the dominant currency in Asia, exerting a...
Persistent link: https://www.econbiz.de/10009380945
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Do China and Oil Exporters Influence Major Currency Configurations?
Fratzscher, Marcel - 2015
This paper analyses the impact of the shift away from a US dollar focus of systemically important emerging market economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US dollar exchange rate regimes remain pervasive and...
Persistent link: https://www.econbiz.de/10012749953
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Employment Versus Wage Adjustment and the U.S. Dollar
Campa, José Manuel - 2006
Using two decades of annual data, we explore the links between real exchange rates and employment, wages, and overtime activity in specific U.S. manufacturing industries. Across two-digit industry levels of aggregation, exchange rate movements do not have large effects on numbers of jobs or on...
Persistent link: https://www.econbiz.de/10012732768
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The Nominal Exchange Rate and Fundamentals : New Evidence from Threshold Unit Root Tests
Sekioua, Sofiane H. - 2003
monetary fundamentals for three major currencies vis-a-vis the US dollar is mean reverting. We are able to reject the null …
Persistent link: https://www.econbiz.de/10014075254
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Exchange Rate Anchoring - Is there Still a De Facto US Dollar Standard?
Bracke, Thierry - 2011
rates are pegged or floating, and in the case of pegs, to which anchor currencies they are pegged. To capture the role of … major currencies over time, an aggregate trade-weighted indicator is constructed based on exchange rate regimes of …
Persistent link: https://www.econbiz.de/10013124257
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Gold’s Currency Characteristics and its Negative Relationship with the US Dollar
O'Connor, Fergal A. - 2013
This article examines the negative relationship between gold and the US dollar. It considers the argument that a weaker dollar makes gold cheaper, increases demand for gold, which in turn drives up the price, giving gold and the dollar their negative relationship. The conclusion is that whilst...
Persistent link: https://www.econbiz.de/10013091118