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Adjustment patterns to commodity terms of trade shocks: The role of exchange rate and international reserves policies

Aizenman, Joshua; Edwards, Sebastian; Riera-Crichton, Daniel - 2011

We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970-2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...

Persistent link: https://www.econbiz.de/10010288117

A Model of an Optimum Currency Area

Ricci, Luca Antonio - In: Economics - The Open-Access, Open-Assessment E-Journal 2 (2008), pp. 1-31

This paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of...

Persistent link: https://www.econbiz.de/10005082952

A Model of an Optimum Currency Area

Ricci, Luca Antonio - Institut für Weltwirtschaft (IfW) - 2007

Persistent link: https://www.econbiz.de/10005083391

The GCC Monetary Union: Choice of Exchange Rate Regime

Khan, Mohsin S. - Peter G. Peterson Institute for International Economics … - 2009

far served them well, but rising inflation and differing economic cycles from the United States in recent years has raised …

Persistent link: https://www.econbiz.de/10005760868

Choice and Coercion in East Asian Exchange Rate Regimes

Henning, C. Randall - Peter G. Peterson Institute for International Economics … - 2012

This paper examines the exchange rate regimes of East Asian countries since the initial shift by China to a controlled appreciation in July 2005, testing econometrically the weights of key currencies in the implicit baskets that appear to be targeted by East Asian monetary authorities. It finds,...

Persistent link: https://www.econbiz.de/10010575446

Fear of appreciation

Levy-Yeyati, Eduardo; Sturzenegger, Federico; Gluzmann, … - In: Journal of Development Economics 101 (2013) C, pp. 233-247

In recent years, the term “fear of floating” has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has...

Persistent link: https://www.econbiz.de/10011065947

Financial Stability, the Trilemma, and International Reserves

Obstfeld, Maurice; Shambaugh, Jay C; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2008

The rapid growth of international reserves|a development concentrated in the emerging markets|remains a puzzle. In this paper we suggest that a model based on financial stability and financial openness goes far toward explaining reserve holdings in the modern era of globalized capital markets....

Persistent link: https://www.econbiz.de/10005661901

Fear of Appreciation

Levy-Yeyati, Eduardo; Sturzenegger, Federico; Gluzmann, … - Volkswirtschaftliche Fakultät, … - 2007

In recent years the term “fear of floating” has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has...

Persistent link: https://www.econbiz.de/10011258350

Exchange rate regimes and macroeconomic stability in Central and Eastern Europe

De Grauwe, Paul; Schnabl, Gunther - 2004

This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European … exchange rate stability have a better explanatory power than the de jure measures in the inflation and growth equations. For … the whole observation period the estimations reveal a significant impact of exchange rate stability on low inflation as …

Persistent link: https://www.econbiz.de/10011402440

Exchange rate regimes and foreign direct investment flow in West African Monetary Zone (WAMZ)

Eregha, Perekunah B. - 2019

This study examines the effect of exchange rate regimes on Foreign Direct Investment (FDI) flow for WAMZ. The Arellano Panel Correction for Serial Correlation and Heteroskedaticity option of the Within Estimator for fixed effect panel data model as well as the Dynamic Panel Data Instrumental...

Persistent link: https://www.econbiz.de/10012389124