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The ECB's enhanced effective exchange rates and harmonised competitiveness indicators : an updated weighting scheme including trade in services

Schmitz, Martin; Dietrich, Andreas; Brisson, Rémy - 2024

The nominal effective exchange rate (EER) of a currency is an index of the tradeweighted average of its bilateral exchange rates vis-à-vis the currencies of selected trading partners, while the real EER is derived by adjusting the nominal index for relative prices or costs. The nominal EER...

Persistent link: https://www.econbiz.de/10014558999

Implications of the General Agreement on Trade in Services (Gats) for Trinidad and Tobago's Financial Policy

Gayle, Dennis; Hosein, Roger - 2006

, including services specialization, economies of scope, economies of scale in technology acquisition, a reduction of systemic …

Persistent link: https://www.econbiz.de/10014061730

Arbitrage in foreign exchange markets within the context of a transactional algebra

Apreda, Rodolfo - 2005

This paper sets forth the foundations for a transactional approach for the performance of arbitrage in foreign exchange markets. Firstly, we review both the standard model of financial arbitrage and the so-called covered-interest arbitrage environment, and we also lay bare striking shortcomings...

Persistent link: https://www.econbiz.de/10010323288

International portfolio rebalancing and exchange rate fluctuations in Thailand

Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip; … - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

We present empirical evidence that the Thai exchange rate is driven in part by international investors' cross-border portfolio rebalancing decisions. Our results are based on two comprehensive, daily-frequency datasets of foreign exchange and equity market capital flows undertaken by nonresident...

Persistent link: https://www.econbiz.de/10009138479

A Multivariate Integer Count Hurdle model: Theory and application to exchange rate dynamics

Bien, Katarzyna; Nolte, Ingmar; Pohlmeier, Winfried - 2006

In this paper we propose a model for the conditional multivariate density of integer count variables defined on the set Zn. Applying the concept of copula functions, we allow for a general form of dependence between the marginal processes which is able to pick up the complex nonlinear dynamics...

Persistent link: https://www.econbiz.de/10010266919

A Multivariate Integer Count Hurdle Model: Theory and Application to Exchange Rate Dynamics

Bien, Katarzyna; Nolte, Ingmar; Pohlmeier, Winfried - Zentrum für Finanzen und Ökonometrie, Fachbereich … - 2006

Persistent link: https://www.econbiz.de/10005146730

Empirical dynamics of emerging financial markets during the global mortgage crisis

Aktug, Rahmi Erdem - In: Borsa Istanbul Review 15 (2015) 1, pp. 17-36

Focusing on five major emerging markets, I investigate the interactions between credit default swap premiums, foreign exchange rates, local currency government bond spreads, and national stock market returns over the period 4/2/2007 to 8/27/2009. Empirical analysis indicates that bond markets,...

Persistent link: https://www.econbiz.de/10011185599

Developing Countries in the World Trading System: from GATT, 1947, to the Third Ministerial Meeting of WTO, 1999.

Srinivasan, T.N. - Economic Growth Center, Economics Department - 2001

I first describe how concerns about development of less developed countries were reflected in the evolution of the multilateral trading system, from GATT 1947 to the conclusion of the Uruguay Round of multilateral trade negociation and the establishment of the World Trade Organisation (WTO). In...

Persistent link: https://www.econbiz.de/10005256237

Blockchain Technology : What is it Good for?

Ammous, Saifedean - 2016

This paper explains the functioning of “blockchain technology” and critically assesses its potential role in improving … services in banking, contracts, and database systems. Comparing blockchain to the current best practice technology in these … fields reveals several barriers to successful commercial implementation: Blockchain technology involves costly redundancies …

Persistent link: https://www.econbiz.de/10012984083

Dismissal laws, innovation, and economic growth

Subramanian, Krishnamurthy V. - 2018

I theoretically and empirically show that dismissal laws - laws that impose hurdles on firing of employees - spur innovation and thereby economic growth. Theoretically, dismissal laws make it costly for firms to arbitrarily discharge employees. This enables firms to commit to not punish...

Persistent link: https://www.econbiz.de/10011858380