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Deposit Dollarization as an Investment Signal in Transition Economies: The Cases of Croatia, the Czech Republic, and Slovakia

Ozsoz, Emre; Rengifo, Erick W.; Salvatore, Dominick - In: Emerging Markets Finance and Trade 46 (2010) 4, pp. 5-22

In highly dollarized banking systems, the high level of foreign currency assets or liabilities on banks' balance sheets may create a currency mismatch risk, which could lead to bank failures when faced with sudden exchange rate movements. Central banks in such economies have to adjust their...

Persistent link: https://www.econbiz.de/10008742552

New tool gauges impact of exchange rates on states

Phillips, Keith R.; Brzezinski, Steve; Davalos, Barbara - In: Southwest Economy (2010) Q4, pp. 3-7

States with relatively more employment tied to international trade are increasingly likely to be sensitive to exchange rate movements, and face sharply different effective exchange rate shifts, often provoked by economic or financial crises. ; Analysts need a tool to more effectively gauge the...

Persistent link: https://www.econbiz.de/10008764376

Can oil prices forecast exchange rates?

Ferraro, Domenico; Rogoff, Ken; Rossi, Barbara - Federal Reserve Bank of Philadelphia - 2011

This paper investigates whether oil prices have a reliable and stable out-of-sample relationship with the Canadian … prices and the exchange rate at the monthly and quarterly frequencies. In contrast, the main contribution is to show the … authors use contemporaneous (realized) or lagged oil prices in their regression. However, in the latter case the predictive …

Persistent link: https://www.econbiz.de/10009279911

A foreign exchange intervention in an era of restraint

Neely, Christopher J. - In: Review (2011) Sep, pp. 303-324

The Japanese yen appreciated strongly and rapidly against other major currencies in the wake of the massive March 11, 2011, Tohoku earthquake. High volatility and disorder in financial markets prompted the G-7 authorities to jointly intervene to weaken the yen. This episode resembled the two...

Persistent link: https://www.econbiz.de/10009292969

External Performance in Low-Income Countries

Prati, Alessandro; Ricci, Luca Antonio; Christiansen, … - International Monetary Fund (IMF) - 2011

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and...

Persistent link: https://www.econbiz.de/10010790491

Interaction among stock prices and monetary variables in Pakistan

Abbas, Ghulam; McMillan, David G. - In: International Journal of Monetary Economics and Finance 7 (2014) 1, pp. 13-27

The interaction between stock market and monetary variables in Pakistan using monthly data for the last 20 years is examined. The Johansen co-integration approach is utilised to examine the equilibrium relationship between the stock price index, money supply, interest rates and a foreign...

Persistent link: https://www.econbiz.de/10010797725

The Role of Productivity in Economic Growth and Equilibrium

Olson, Dr. Ordean - In: Asian Economic and Financial Review 3 (2013) 11, pp. 1497-1527

This study reexamines the evidence for the Balassa-Samuelson effect for the 1985-2007 period. Cointegrating relationships between the real exchange rate and productivity, real price of oil and government spending are estimated using the Johansen and Stock-Watson procedures. The...

Persistent link: https://www.econbiz.de/10010685361

Exploiting exportation: why foreign exchange rates matter

Fawley, Brett - In: Page One Economics Newsletter (2010) April

examines the links between foreign exchange rates and global trade and explains the effect on U.S. prices and import …

Persistent link: https://www.econbiz.de/10010690269

Time variation in asset price responses to macro announcements

Goldberg, Linda S.; Grisse, Christian - Federal Reserve Bank of New York - 2013

Although the effects of economic news announcements on asset prices are well established, these relationships are … that have the largest effects on asset prices. The time variation in effects is explained by economic conditions, including …

Persistent link: https://www.econbiz.de/10010690280

Exploring the role of the real exchange rate in Australian monetary policy

Dennis, Richard - Federal Reserve Bank of San Francisco - 2002

An important issue in small open-economies is whether policymakers should respond to exchange rate movements when they formulate monetary policy. Micro-founded models tend to suggest that there is little to be gained from responding to exchange rate movements, and the literature has largely...

Persistent link: https://www.econbiz.de/10010702125