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Empirical analysis on the real effects of inflation and exchange rate uncertainty: The case of Colombia
Ruiz, Isabel Cristina - In: REVISTA ECOS DE ECONOMÍA (2005)
Abstract:This paper re-examines the effects of inflation and exchange rate uncertainty on real economic activity. The … uncertainty or exchange rate uncertainty on economic growth or on different measures of economic activity. This paper attempts … uncertainty on real economic activity. By introducing dummy variables, we control for monetary policy change (the change to …
Persistent link: https://www.econbiz.de/10010827989
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A 'Vertical' Analysis of Monetary Policy in Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
During emerging market crises, domestic agents might have sufficient collateral to borrow from the other domestic agents, but they are unable to borrow from foreigners because the country, as a whole, lacks international collateral. In this setting, we show that an (ex-post) optimizing central...
Persistent link: https://www.econbiz.de/10014118568
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Asymmetric Exchange Rate Dependence : An Empirical Investigation for Small Inflation-Targeting Economies
Li, Xiaoming - 2009
This paper examines asymmetry in exchange rate dependence between domestic and foreign currencies vis-à-vis some world currencies for small inflation targeters, and find mixed evidence. Positive-type asymmetry (i.e., greater dependence during joint appreciations than joint depreciations) is...
Persistent link: https://www.econbiz.de/10013159267
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Exchange Rates and Liquidity Risk
Evans, Martin D.D. - 2020
I use Forex trading data to study how risks associated with the lack of liquidity contribute to the dynamics of 17 spot exchange rates through their time-varying contributions to risk premia. I find that liquidity risk matters. All the foreign exchange risk premia compensate investors for...
Persistent link: https://www.econbiz.de/10012824202
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Uncertainty and Exchange Rate Volatility : The Case of Mexico
Bush, G. - 2019
This paper investigates the effect of domestic and global uncertainty on the volatility of the Mexican peso US dollar … estimated exchange rate volatility on domestic and global uncertainty proxies, built with data from the survey of professional … Davis global economic policy uncertainty index (EPU). A trade uncertainty index based on Google trends is incorporated in …
Persistent link: https://www.econbiz.de/10012897453
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The Dollar, Global Growth Risks and the US Safety Puzzle
Kim, Sun Yong - 2022
The United States (US) extracts a large macroeconomic premium from foreigners: she enjoys higher consumption and GDP growths on average relative to the rest of the world (ROW). This is earned even though the US is relatively insulated against global consumption and GDP risks, challenging a...
Persistent link: https://www.econbiz.de/10014077659
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Macroeconomic challenges and the resilience of emerging market economies in the 21st century
Aizenman, Joshua - 2020
A growing share of emerging markets (EMs) uses hybrid versions of inflation targeting that differ from the IT regimes of the OECD countries. Real exchange rate and international reserve changes affect the policy interest rates in commodity countries, aiming to stabilize their real exchange rate...
Persistent link: https://www.econbiz.de/10012219537
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Evaluating Exchange Rate Management An Application to Korea
Parsley, David; Popper, Helen - Hong Kong Institute for Monetary Research (HKIMR), … - 2009
This paper uses data-rich estimation techniques to study monetary policy in an open economy. We apply the techniques to a small, forward-looking model and explore the importance of the exchange rate in the monetary policy rule. This approach allows us to discern whether a monetary authority...
Persistent link: https://www.econbiz.de/10008621750
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Dove or Hawk? Characterizing monetary policy regime switches in India
Hutchison, Michael M.; Sengupta, Rajeswari; Singh, Nirvikar - In: Emerging Markets Review 16 (2013) C, pp. 183-202
The past two decades have witnessed a worldwide move by emerging markets to adopt explicit or implicit inflation targeting regimes. A notable and often discussed exception to this trend, of course, is China which follows a pegged exchange rate regime supported by capital controls. Another major...
Persistent link: https://www.econbiz.de/10011056999
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Alternative optimized monetary policy rules in multi-sector small open economies
De Resende, Carlos; Dib, Ali; Kichian, Maral - 2010
Inflation-targeting central banks around the world often state their inflation objectives with regard to the consumer price index (CPI). Yet the literature on optimal monetary policy based on models with nominal rigidities and more than one sector suggests that CPI inflation is not always the...
Persistent link: https://www.econbiz.de/10010280022