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Exchange Rate Determination from Monetary Fundamentals: an Aggregation Theoretic Approach
Barnett, William; Kwag, Chang Ho - EconWPA - 2005
We incorporate aggregation and index number theory into monetary models of exchange rate determination in a manner that is internally consistent with money market equilibrium. Divisia monetary aggregates and user-cost concepts are used for money supply and opportunity-cost variables in the...
Persistent link: https://www.econbiz.de/10005408047
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Exchange Rate Determination from Monetary Fundamentals: an Aggregation Theoretic Approach
Barnett, William A.; Kwag, Chang Ho - In: Frontiers in Finance and Economics 3 (2006) 1, pp. 29-48
Persistent link: https://www.econbiz.de/10004998268
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Should one rely on professional exchange rate forecasts : an empirical analysis of professional forecasts for the €/US-$ rate
Bofinger, Peter; Schmidt, Robert - 2003
The study analyses the characteristics of professional exchange rate forecasts for the € /US-$ rate. The results … indicate that the quality of forecasts produced by professional economists is rather poor and incompatible with the rational … expectations hypothesis. This dismal result is according to our analysis attributed to the fact that professional forecasts are to …
Persistent link: https://www.econbiz.de/10010498977
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Should one rely on professional exchange rate forecasts: An empirical analysis of professional forecasts for the /US-$ rate
Bofinger, Peter; Schmidt, Robert - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 2003
The study analyses the characteristics of professional exchange rate forecasts for the /US-$ rate. The results indicate … that the quality of forecasts produced by profes-sional economists is rather poor and incompatible with the rational … expectations hy-pothesis. This dismal result is according to our analysis attributed to the fact that professional forecasts are to …
Persistent link: https://www.econbiz.de/10009226084
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Should one rely on professional exchange rate forecasts: An empirical analysis of professional forecasts for the €/US-$ rate
Bofinger, Peter; Schmidt, Robert - 2003
The study analyses the characteristics of professional exchange rate forecasts for the €/US-$ rate. The results … indicate that the quality of forecasts produced by profes-sional economists is rather poor and incompatible with the rational … expectations hy-pothesis. This dismal result is according to our analysis attributed to the fact that professional forecasts are to …
Persistent link: https://www.econbiz.de/10010305755
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On-Going versus Completed Interventions and Yen/Dollar Expectations - Evidence from Disaggregated Survey Data
Yoshida, Yushi; Rülke, Jan C. - Faculty of Economics, Kyushu Sangyo University - 2009
exchange rate, we show that successful interventions affect the exchange rate forecasts for up-to three months. …
Persistent link: https://www.econbiz.de/10008502710
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Should One Rely on Professional Exchange Rate Forecasts? An Empirical Analysis of Professional Forecasts for the €/US$ Rate
Bofinger, Peter; Schmidt, Robert - C.E.P.R. Discussion Papers - 2004
The study analyses the characteristics of professional exchange rate forecasts for the €/US$ rate. The results indicate … that the quality of forecasts produced by professional economists is rather poor and incompatible with the rational … expectations hypothesis. This dismal result is according to our analysis attributed to the fact that professional forecasts are to …
Persistent link: https://www.econbiz.de/10005666725
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Risk-On Risk-Off : A Multifaceted Approach to Measuring Global Investor Risk Aversion
Chari, Anusha; Stedman, Karlye Dilts; Lundblad, Christian - National Bureau of Economic Research - 2023
This paper defines risk-on risk-off (RORO), an elusive terminology in pervasive use, as the variation in global investor risk aversion. Our high-frequency RORO index captures time-varying investor risk appetite across multiple dimensions: advanced economy credit risk, equity market volatility,...
Persistent link: https://www.econbiz.de/10014437038
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Impact of Export Subsidies on Pakistan’s Exports
Haque, Nadeem Ul - East Asian Bureau of Economic Research (EABER) - 2007
Throughout Pakistans history, policy has sought to promote exports through government support and incentives. The government machinery is geared to export promotion especially through direct and indirect subsidies. Surprisingly, these policies have been continued without serious examination....
Persistent link: https://www.econbiz.de/10009363429
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Long-Run and Short-Run Dynamics of the Exchange Rate in Pakistan: Evidence FromUnrestricted Purchasing Power Parity Theory
Khan, Muhammad Arshad; Qayyum, Abdul - In: Lahore Journal of Economics 13 (2008) 1, pp. 29-56
The main focus of this paper is to measure the speed of adjustment of the exchange rate by means of the persistent profile approach developed by Pesaran and Shin (1996) to examine the symmetry and proportionality assumptions of the purchasing power parity (PPP) theory of exchange rates for the...
Persistent link: https://www.econbiz.de/10010586242