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Causality in Vietnam's parallel exchange rate system during 2005-2011 : policy implications for macroeconomic stability
Bui, Minh Tam - In: Economies : open access journal 6 (2018) 4/68, pp. 1-20
As in many transition economies, Vietnam has experienced a multiple exchange rate system with three exchange rates …-run relationship between the official and parallel market rates of the Vietnam dong against the U.S. dollar. The short-run dynamics of … of the State Bank of Vietnam not to follow black market signals in managing official exchange rates for macroeconomic …
Persistent link: https://www.econbiz.de/10011956312
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Are global shocks leading indicators of a currency crisis in Viet Nam?
Anh, Pham Thi Hoang - 2017
This paper aims to identify leading indicators of a currency crisis in Viet Nam based on an early warning system for the period 1996-February 2016. This paper found that global financial shocks (e.g., regional and global financial crisis, unexpected changes in monetary policy of largest...
Persistent link: https://www.econbiz.de/10011615572
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Exchange Rate Dynamics, Expectations, and Monetary Policy
Chen, Qianying - 2011
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10013124774
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Exchange Rate Dynamics, Expectations, and Monetary Policy
Chen, Qianying - 2016
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10012991036
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Self-Selection and Treatment Effects in Macroeconomics : Revisiting the Effectiveness of Foreign Exchange Intervention
Pontines, Victor - 2018
Along the lines of the treatment effects literature, this paper empirically revisits the issue of the so-called “intervention effect”, i.e., the effectiveness of official foreign exchange intervention on the movement of the exchange rate. We extended in a continuous treatment setting the...
Persistent link: https://www.econbiz.de/10012924376
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Do Exchange Rate Devaluations Matter? VAR Evidence from the Czech Republic
Kvapilik, Jakub - 2021
What happens if a country devalues its currency? Standard macroeconomic theory would argue for expansionary effects, while recent theoretical contributions and the empirical evidence do not appear overly supportive. Devaluations have been mostly used by developing countries, but even...
Persistent link: https://www.econbiz.de/10013249517
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Exchange Rate Stabilization in the Erm : Identifying European Monetary Policy Reactions
Kim, Soyoung - 2001
The structural VAR models for European countries (France, Denmark, and Germany) are developed to examine the monetary policy reactions, especially the within-ERM exchange rate stabilization, during the ERM period. First, impulse responses of monetary instrument and the exchange rate to shocks...
Persistent link: https://www.econbiz.de/10014139848
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The Dynamics of Real Interest Rates, Real Exchange Rates and the Balance of Payments in China: 1980-2002
Jin, Zhongxia - International Monetary Fund (IMF) - 2003
Based on China's experience between 1980 and 2002, a cointegrated vector autoregression model was established to explore the relationships among real interest rates, real exchange rates and balance of payments in China. Taking into account institutional changes, the empirical study shows that...
Persistent link: https://www.econbiz.de/10005263720
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The Socialist Peopled Libyan Arab Jamahiriya; 2003 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2003
The Libyan economy remains saddled with extensive controls, restrictions, and subsidies that continue to distort prices and resource allocations, hinder efficiency and competitiveness, and impede the performance of the economy. Executive Directors commended the liberalizing of the economy, and...
Persistent link: https://www.econbiz.de/10005599114
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Evolution and Performance of Exchange Rate Regimes
Husain, Aasim M.; Mody, Ashoka; Oomes, Nienke; Brooks, Robin - International Monetary Fund (IMF) - 2003
Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis...
Persistent link: https://www.econbiz.de/10005599274