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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 … exchange rate volatility: squared returns parametric model and GARCH. Both methods provide identical results for the currencies …
Persistent link: https://www.econbiz.de/10009477538
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Exchange Rate Regimes and Volatility: Comparison of the Snake and Visegrad
Valachy, Juraj; Evžen Ko?enda - William Davidson Institute, University of Michigan - 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 … exchange rate volatility: squared returns parametric model and GARCH. Both methods provide identical results for the currencies …
Persistent link: https://www.econbiz.de/10005207889
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Liberalized Markets Have More Stable Exchange Rates; Short-Run Evidence From Four Transition Countries
Bulir, Ales - International Monetary Fund (IMF) - 2004
sample of four transition economies and finds that exchange rates tend to return faster to their Hodrick … central banks should not be overly concerned with short-run volatility of their national exchange rates, given the self …
Persistent link: https://www.econbiz.de/10005599329
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Nonlinear relationship between exchange rate volatility and economic growth
Phiri, Andrew - 2018
In this paper, we challenge the traditional assumption of a linear relationship between exchange rate volatility and … economic growth in South Africa. By using data collected from 1970 to 2016 applied to a smooth transition regression (STR … volatility positively and significantly influences economic growth when growth in government spending is below 6 percent. Above …
Persistent link: https://www.econbiz.de/10011870188
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Determinants of Foreign Currency Borrowing in the New Member States of the EU
Rosenberg, Christoph B.; Tirpák, Marcel - International Monetary Fund (IMF) - 2008
The paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowing between countries are explained by the loan-to-deposit ratios, openness, and the...
Persistent link: https://www.econbiz.de/10005825762
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Macroeconomic Challenges with Eu Accession in Southeastern Europe; An Overview
Sorsa, Piritta - International Monetary Fund (IMF) - 2006
The paper reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE). Most of the countries in the region are years away from EU accession and need substantial progress to meet the key macroeconomic criteria-the establishment of a functioning market economy and...
Persistent link: https://www.econbiz.de/10005768897
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Competitiveness in the Baltics in the Run-Up to EU Accession
International Monetary Fund (IMF); International … - 2003
have driven movements in equilibrium real exchange rates in the Baltics since the start of the transition process. In the … earlier years of transition, price liberalization, increased demand for services and other nontradables, and shifts in …
Persistent link: https://www.econbiz.de/10005591344
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Exchange Rates in the New EU Accession Countries; What Have We Learned from the Forerunners?
Smídková, Katerina; Bulir, Ales - International Monetary Fund (IMF) - 2005
Estimation and simulation of sustainable real exchange rates in some of the new EU accession countries point to potential difficulties in sustaining the ERM2 regime if entered too soon and with weak policies. According to the estimates, the Czech, Hungarian, and Polish currencies were overvalued...
Persistent link: https://www.econbiz.de/10005599488
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Pros and Cons of Currency Board Arrangements in the Lead-Up to EU Accession and Participation in the Euro Zone
Gulde, Anne Marie; Kähkönen, Juha; Keller, Peter - International Monetary Fund (IMF) - 2000
) have also been generally favorable. Can CBAs serve these transition countries well all the way up to the adoption of the …
Persistent link: https://www.econbiz.de/10005605518
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Czech Koruna and Polish Zloty Currency Options; Information Contnent and Eu-Accession Implications
Morales, Armando Méndez - International Monetary Fund (IMF) - 2000
Currency option implied volatility predicts more efficiently exchange rate volatility for the Polish zloty relative to … GARCH model shows a positive impact of the introduction of the Euro on exchange rate volatility for the Polish zloty … (negative for the Czech koruna), related to its larger exposure to external shocks. For countries in transition to Euro …
Persistent link: https://www.econbiz.de/10005248136