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Systemic sudden stops : the relevance of balance-sheet effects and financial integration
Calvo, Guillermo (contributor);  … - 2008
Using a sample of 110 developed and developing countries for the period 1990-2004, this paper analyzes the characteristics of systemic sudden stops (3S) in capital flows and the relevance of balance-sheet effects in the likelihood of their materialization. A small supply of tradable goods...
Persistent link: https://www.econbiz.de/10003776987
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The effect of exchange rate changes on trade in East Asia
Thorbecke, Willem - 2011
This paper considers how exchange rates affect East Asian trade. The evidence indicates that exports produced within regional production networks depend on exchange rates throughout the region while labor-intensive exports depend on exchange rates in the exporting country. These results make...
Persistent link: https://www.econbiz.de/10008907805
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Investigating the effect of exchange rate changes on the People's Republic of China's processed exports
Thorbecke, Willem - 2010
Many argue that the yuan needs to appreciate to rebalance the People's Republic of China's trade. However, empirical evidence on the effects of a CNY appreciation on the People's Republic of China's exports has been mixed for the largest category of exports, processed exports. Since much of the...
Persistent link: https://www.econbiz.de/10003983107
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Sources of current account fluctuations in industrialized countries
Karadimitropoulou, Aikaterini; León-Ledesma, Miguel A. - 2009
We analyze the sources of current account fluctuations for the G6 economies. Based on Bergin and Sheffrin’s (2000) two … supply and preferences shocks account for an important proportion of CA fluctuations; iii) temporary domestic shocks account … for a large proportion of CA fluctuations, but the excess response of the CA is less pronounced than in previous studies …
Persistent link: https://www.econbiz.de/10003875028
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Capital controls, exchange rate volatility and risk premium
Frenkel, Michael; Stadtmann, Georg - 2002
Capital controls lower the variability of the exchange rate and reduce the risk premium as well as the domestic interest rate. On the other hand, capital controls reduce the number of noise traders and, therefore, the risk-bearing capacity of the market, leading to higher interest rates and a...
Persistent link: https://www.econbiz.de/10010503713
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The Effect of Exchange Rate Changes on Trade in East Asia
Thorbecke, Willem - 2011
This paper considers how exchange rates affect East Asian trade. The evidence indicates that exports produced within regional production networks depend on exchange rates throughout the region while labor-intensive exports depend on exchange rates in the exporting country. These results make...
Persistent link: https://www.econbiz.de/10013131270
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Real Exchange Rate Volatility and Disconnect : An Empirical Investigation
Cristadoro, Riccardo - 2008
A two-country model that incorporates many features proposed in the New Open Economy Macroeconomics literature is developed in order to replicate the volatility of the real exchange rate and its disconnect with macroeconomic variables. The model is estimated using data for the euro area and the...
Persistent link: https://www.econbiz.de/10012723975
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Investigating the Effect of Exchange Rate Changes on the People's Republic of China's Processed Exports
Thorbecke, Willem - 2010
Many argue that the yuan needs to appreciate to rebalance the People's Republic of China's trade. However, empirical evidence on the effects of a CNY appreciation on the People's Republic of China's exports has been mixed for the largest category of exports, processed exports. Since much of the...
Persistent link: https://www.econbiz.de/10013146317
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The Effects of Capital Controls on Exchange Rate Volatility and Output
Frenkel, Michael; Stadtmann, Georg; Schmidt, Gunter; … - 2021
This paper extends the Dornbusch model of overshooting exchange rates to discuss both exchange rate and output effects of capital controls that involve additional costs for international asset transactions. We show that, on the one hand, such capital controls have the merit of reducing the...
Persistent link: https://www.econbiz.de/10013317786
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The Effects of Capital Controls on Exchange Rate Volatility and Output
Frenkel, Michael; Nickel, Christiane; Schmidt, Gunter; … - 2003
This paper extends the Dornbusch model of overshooting exchange rates to discuss both exchange rate and output effects of capital controls that involve additional costs for international asset transactions. We show that, on the one hand, such capital controls have the merit of reducing the...
Persistent link: https://www.econbiz.de/10014122083