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Impact of Macroeconomic Variables on Exchange Rate Volatility in India
N., Suresh - 2018
Exchange Rate is one of the most important factor for any economic growth of any country, it has direct effect on international trade. The present study investigates the impact of macroeconomic factors (Current Account Deficit (CAD), Import, Export and Purchasing Power Parity (PPP)) on Exchange...
Persistent link: https://www.econbiz.de/10012931463
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Central bank intervention and exchange rate expectations : evidence from the daily DM/US-Dollar exchange rate
Reitz, Stefan - 2002
In this paper we propose a generalisation of the noise trader transmission mechanism to examine the impact of central bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are supposed to provide support to either chartist or...
Persistent link: https://www.econbiz.de/10001683383
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Central bank intervention and exchange rate expectations : evidence from the daily DM/US-Dollar exchange rate
Reitz, Stefan - 2002
In this paper we propose a generalisation of the noise trader transmission mechanism to examine the impact of central bank intervention on exchange rates. Within a heterogeneous expectations exchange rate model intervention operations are supposed to provide support to either chartist or...
Persistent link: https://www.econbiz.de/10011431685
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The Effect of Money-Financed Policy for Fiscal Reform
Aoki, Masaru - 2017
This study analyzes the effect of a money-financed policy for fiscal reform. We introduce a realistic setting in which real output is not given by an exogenous variable, but is determined by effective demand in a monetary growth model. Using this model, we compare the effects of the...
Persistent link: https://www.econbiz.de/10012968526
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Unconventional monetary policies and central bank profits : seigniorage as fiscal revenue in the aftermath of the global financial crisis
Bibow, Jörg - 2018
This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the … as monetary policies are seeing their gradual "normalization". Seigniorage exposes the connections between currency … seigniorage, and in normal times seigniorage largely derives from the note issue supplemented by "own" resources. Essentially, the …
Persistent link: https://www.econbiz.de/10011910944
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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
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Dollarization and the multiple currency phenomenon in Lao PDR : costs, benefits and policy options
Menon, Jayant (contributor) - 2007
loss associated with seigniorage, the inability to conduct an independent monetary policy and the relative ineffectiveness …
Persistent link: https://www.econbiz.de/10003411320
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Fiscal implications of central bank balance sheet policies
Orphanides, Athanasios - 2016
Under ordinary circumstances, the fiscal implications of central bank policies tend to be seen as relatively minor and escape close scrutiny. The global financial crisis of 2008, however, demanded an extraordinary response by central banks which brought to light the immense power of central bank...
Persistent link: https://www.econbiz.de/10011498983
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Fiscal implications of central bank balance sheet policies
Orphanides, Athanasios - 2016
Under ordinary circumstances, the fiscal implications of central bank policies tend to be seen as relatively minor and escape close scrutiny. The global financial crisis of 2008, however, demanded an extraordinary response by central banks which brought to light the immense power of central bank...
Persistent link: https://www.econbiz.de/10011750138
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The impact of macro news and central bank communication on emerging European forex markets
Égert, Balázs; Kočenda, Evžen - 2013
We employ two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal equilibrium exchange rate based on a monetary model....
Persistent link: https://www.econbiz.de/10009764449