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Purchasing power parity and the European single currency: some new evidence

Christidou, Maria; Panagiotidis, Theodore - 2010

The effect of the single currency on the Purchasing Power Parity (PPP) hypothesis is examined in this study for the 15 … the introduction of the single currency. Panel unit root (Pesaran, 2007) and stationarity tests (Hadri and Kurozumi, 2008 … the introduction of the single currency. …

Persistent link: https://www.econbiz.de/10010273678

The impact of monetary and commodity fundamentals, macro news and central bank communication on the exchange rate: evidence from South Africa

Égert, Balázs - 2009

This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...

Persistent link: https://www.econbiz.de/10010273784

The Euro/Dollar exchange rate: Chaotic or non-chaotic?

Federici, Daniela; Gandolfo, Giancarlo - 2011

The aim of this paper is to develop a continuous time exchange rate model that allows for heterogeneity of the agents' beliefs, in order to explore non-linearities and possible chaotic behaviour. The theoretical model contains an intrinsic non-linearity that gives rise to a jerk differential...

Persistent link: https://www.econbiz.de/10010274880

China and its Dollar exchange rate: A worldwide stabilizing influence?

McKinnon, Ronald; Schnabl, Gunther - 2011

We argue that criticism concerning the Chinese dollar peg is misplaced as no predictable link exists between the exchange rate and the trade balance of an international creditor economy. The stable nominal yuan/dollar rate is argued to have stabilized Chinese, East Asian and global growth....

Persistent link: https://www.econbiz.de/10010275052

The high-frequency response of the EUR-US Dollar exchange rate to EBC monetary policy announcements

Conrad, Christian; Lamla, Michael J. - 2007

We investigate the impact of the European Central Bank's monetary policy announcements on the level and volatility of the EUR-US Dollar exchange rate employing an AR-FIGARCH specification. Using high-frequency data we estimate the individual and complementary effects of the release of the...

Persistent link: https://www.econbiz.de/10010277736

Is the USA's Current Account Sustainable?

Bubla, Florian - 2003

The extraordinary height of the U.S. current account deficits in the 90s gave rise to concern, a variety of papers and political recommendationsrevealing the very contrary opinions of economists on the subject.From this alarming evolution, the question of sustainability of such a...

Persistent link: https://www.econbiz.de/10009471805

Stress relief? Funding structures and resilience to the Covid shock

Forbes, Kristin; Friedrich, Christian; Reinhardt, Dennis - 2023

This paper explores whether different funding structures-including the source, instrument, currency, and counterparty …

Persistent link: https://www.econbiz.de/10014544666

Dollar dominance is here to stay for the foreseeable future: The real issue for the global economy is how and why

Kamin, Steven; Sobel, Mark - 2024

are required for the currency world's top job. We then evaluate the benefits that the United States derives from the …

Persistent link: https://www.econbiz.de/10014581856

The DAX and the Dollar : The Economic Exchange Rate Exposure of German Corporations

Glaum, Martin; Brunner, Marko; Himmel, Holger - 2002

This paper examines the economic exposure of German corporations to changes in the DM/US-dollar exchange-rate. Our work contributes to the existing body of literature in the following ways. Firstly, we point out conceptual problems of previous attempts to estimate economic exposure. Secondly, we...

Persistent link: https://www.econbiz.de/10005841406

Globalization Without Global Money. The Double Role of the Dollar as National Currency and as World Currency and its Consequences

Schulmeister, Stephan - 1998

Since the end of World War II the dollar has played a double role, it has served as national currency of the US and as … key currency of the world economy. As world currency the dollar serves as "numeraire" for supranational flows and stocks … early 1970s has had a tremendous impact on the international economy (due to the dollar as world currency); at the same time …

Persistent link: https://www.econbiz.de/10011435041