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Reverse causality in global current accounts
Schnabl, Gunther; Freitag, Stephan - 2010
Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. - Global …
Persistent link: https://www.econbiz.de/10003973544
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Has Eurozone Converged toward Germany or United States? A View from Optimum Currency Areas Framework
Quah, Chee-Heong - 2011
This study inspects if there is greater convergence with Germany amongst the eurozone founding members and if their … significantly endogenous. At the same time, to assess the relative dominance of Germany, the features against Germany are compared … remarkable convergence with Germany and across the states but also relative convergence with US. On economic performance, results …
Persistent link: https://www.econbiz.de/10014184629
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Predicting real exchange rates from real interest rate differentials and net foreign asset stocks : evidence for the Mark/Dollar parity
Meier, Carsten-Patrick - 1999
Persistent link: https://www.econbiz.de/10013261069
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Predicting real exchange rates from real interest rate differentials and net foreign asset stocks : evidence for the mark/dollar parity
Meier, Carsten-Patrick - 1999
When nontraded goods prices are accounted for consistently and genuine stock data on bilateral foreign asset holdings is employed, a modified sticky-price exchange rate model by far outperforms the benchmark random walk-model in empirically forecasting the D-mark/dollar parity out of sample....
Persistent link: https://www.econbiz.de/10011490699
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The benefits and costs of highly expansionary monetary policy
Rawdanowicz, Łukasz; Bouis, Romain; Watanabe, Shingo - 2013
How far to go – and to remain – in the direction of highly expansionary monetary policy hinges on the balance of marginal benefits and costs of additional monetary easing and its expected evolution over time. This paper sketches a framework for assessing this balance and applies it to four...
Persistent link: https://www.econbiz.de/10010231107
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Impact of US quantitative easing policy on emerging Asia
Morgan, Peter J. - 2011
The adoption of quantitative easing (QE) policy by the United States (US) Federal Reserve Bank since early 2009 has …
Persistent link: https://www.econbiz.de/10009379704
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Hot money flows, commodity price cycles, and financial repression in the US and the People's Republic of China : the consequences of near zero US interest rates
McKinnon, Ronald I.; Liu, Zhao - 2013
Under near zero United States (US) interest rates, the international dollar standard malfunctions. Emerging markets with naturally higher interest rates are swamped with "hot money" inflows. Emerging market central banks intervene to prevent their currencies from rising precipitously. They...
Persistent link: https://www.econbiz.de/10009696939
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Chinese Foreign Exchange Reserves, Policy Choices and the U.S. Economy
Neely, Christopher J. - 2019
China is both a major trading partner of the United States and the largest official holder of U.S. assets in the world. The value of Chinese foreign exchange reserves peaked at just over $4 trillion in June 2014, but has since declined to $3.19 trillion as of August 2016. This very large decline...
Persistent link: https://www.econbiz.de/10013210469
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Chinese foreign exchange reserves, policy choices and the U.S. economy
Neely, Christopher J. - 2017
China is both a major trading partner of the United States and the largest official holder of U.S. assets in the world. The value of Chinese foreign exchange reserves peaked at just over $4 trillion in June 2014, but has since declined to $3.19 trillion as of August 2016. This very large decline...
Persistent link: https://www.econbiz.de/10011586659
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Reverse causality in global current accounts
Schnabl, Gunther; Freitag, Stephan - 2010
Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. …
Persistent link: https://www.econbiz.de/10011605254