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Inflation targeting and monetary integration in European emerging market economies

Felix Hammermann - 2008

This study addresses the potential trade-off between inflation and exchange rate targeting in former transition countries, which now may be labeled emerging market economies and which prepare for entry into the Economic and Monetary Union (EMU). Among this group of countries, some implemented...

Persistent link: https://www.econbiz.de/10009429025

Exchange Rate Regime and Financing Policies of the Corporate Sector in Small Open Economies.

Berrospide, Jose M. - 2007

This dissertation studies the relationship between exchange rate regimes and financing decisions of corporations in small open economies with access to international capital markets.The first essay develops a model of the choice between local and foreign currency debt by capital-constrained...

Persistent link: https://www.econbiz.de/10009477298

Modeling International Asset Markets

Alquist, Ron - 2008

The three papers that comprise my dissertation study international asset markets. The first paper “What Do We Learn from the Price of Crude Oil Futures?” shows that, despite their widespread use, oil futures prices are less accurate in the mean-squared error sense than no-change forecasts....

Persistent link: https://www.econbiz.de/10009477330

CAPITAL ACCOUNT LIBERALIZATION AND EXCHANGE RATE REGIME CHOICE, WHAT SCOPE FOR FLEXIBILITY IN TUNISIA?

Sami, Ben Ali Mohamed - 2006

Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? This study evaluates within a game-theoretic framework the exchange rate regime from a welfare perspective. In a tradable-nontradable goods model framework, Tunisia’s exchange rate regime...

Persistent link: https://www.econbiz.de/10009477444

Exchange Rate Regimes and Volatility: Comparison of the Snake and Visegrad

Valachy, Juraj; Ko?enda, Evžen - 2003

Exchange rate stability was defined as one of the prerequisites for monetary integration in Europe. In this paper, we analyze recent developments in the volatility of exchange rates of the Central European countries (the Visegrad Group) and a selected group of European Union countries (the...

Persistent link: https://www.econbiz.de/10009477538

External adjustment with a common currency: the case of the euro area

Fuertes Mendoza, Alberto

This paper analyzes the behaviour of the external adjustment path for the four main economies in the euro area. I find … a structural break in the behaviour of the net external position at the time of the introduction of the euro for France … area could have exacerbated Germany’s net creditor position as the evolution of the euro has reacted to the external …

Persistent link: https://www.econbiz.de/10012523685

Exchange rate regime and external adjustment : an empirical investigation for the U.S

Fuertes Mendoza, Alberto - 2017

de Estados Unidos en el momento de la introducción del euro. Finalmente, hay implicaciones de valoración de activos … position around the time of the introduction of the euro. Finally, I document asset pricing implications from the relationship …

Persistent link: https://www.econbiz.de/10012530556

What if the UK has Joined the Euro in 1999? An Empirical Evaluation using a Global VAR

Pesaran, M Hashem; Smith, L Vanessa; Smith, Ron P - 2005

entry to the euro. We derive conditional probability distributions for the difference between the future realisations of …, Pesaran and Smith (2005). The paper briefly describes the GVAR which has been estimated for 25 countries and the euro area … euro area as a result of entry. It examines the sensitivity of these results to a variety of assumptions about UK entry. …

Persistent link: https://www.econbiz.de/10009442008

Strategic Interactions of Monetary Policymakers and Wage/Price Bargainers: A Review with Implications for the European Common-Currency Area

Franzese, Robert J. - 2001

This paper reviews recent work on macroeconomic management with varying organization of wage/price bargaining and degrees of credible monetary conservatism. The emerging literature synthesizes and extends theory and empirics on central bank independence (CBI) and coordinated wage/price...

Persistent link: https://www.econbiz.de/10009476726

Implications of ERM2 for Poland’s Monetary Policy

Orlowski, Lucjan T.; Rybinski, Kryzstof - 2005

exchange rate stability constraints imposed by the obligatory participation in the ERM2 on the path to the euro. The modified … policy framework is based on targeting the differential between the domestic and the implicit euro area inflation forecasts …

Persistent link: https://www.econbiz.de/10009476869