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During the 1997/98 Asian crisis and the 2007-2010 world financial and economic crisis, China has proved to be a stabilizer for East Asia and the world. The paper stresses the crucial role of the dollar peg for macroeconomic stability in China. The paper explores the current role of China's...
Persistent link: https://www.econbiz.de/10013136815
The extent to which economic policy uncertainty (EPU) amplifies exchange rate volatility has been an important research … imparts an effect on exchange rate volatility either contemporaneously, or with a one month lag. The use of monthly frequency … contributes to exchange rate volatility much more quickly than monthly data can detect. I also find that non-policy market …
Persistent link: https://www.econbiz.de/10012932171
included the deutsche mark (DM), the Japanese yen, and the euro (successor to the DM). Yet in the end their …
Persistent link: https://www.econbiz.de/10010231421
deutsche mark (DM), the Japanese yen, and the euro (successor to the DM). Yet in the end, their internationalization reached an …
Persistent link: https://www.econbiz.de/10013060670
Persistent link: https://www.econbiz.de/10013087348
included the deutsche mark (DM), the Japanese yen, and the euro (successor to the DM). Yet in the end their …
Persistent link: https://www.econbiz.de/10010397217
This paper summarizes recent developments in the theory and practice of monetary policy in a closed economy and explains what these developments mean for U.S. Dollar policy. There is no conflict between what is appropriate U.S. monetary policy at home or abroad because the dollar is the world's...
Persistent link: https://www.econbiz.de/10014061522
Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...
Persistent link: https://www.econbiz.de/10013043592
Equilibrium exchange rate theories (FEER, BEER and NATREX) make the assumption that the Real Equilibrium Exchange Rate (RER) is independent from internal equilibrium and economic policies. We develop a model in which economic policies depend on the minimisation of an intertemporal loss function...
Persistent link: https://www.econbiz.de/10014052669
This study examines the dynamics of the Russian currency against the US dollar, exploring its responses to geopolitical risk, domestic policies, and oil and gas price shocks. Based on our quantile and time-frequency analyses from January 1998 to July 2022, focused on a subsample that covers the...
Persistent link: https://www.econbiz.de/10014495236