This study empirically analyzes the sources of the exchange rate fluctuations in India by employing the structural VAR model. The VAR system consists of three variables, i.e., the nominal exchange rate, the real exchange rate, and the relative output of India and a foreign country. Consistent...

This article empirically analyses the international term structure of interest rates in the Euro area over the period from 1999 to 2006. To address the small sample problem, we apply the nonstationary panel data analysis to two data sets: (1) seven countries (Belgium, Finland, France, Germany,...

Purpose – To provide an alternative channel of investigation of comovement in four large European equity markets over a sample period of nearly 30 years. Design/methodology/approach – The paper adopts a two stage methodological approach. In the first instance, the interaction between the...

Key Features:The topic, i.e., Rebalancing Demand in East Asia is a hot issue key to understanding the future development of East AsiaThis volume provides a comprehensive overview with respect to the topic of Rebalancing Demand in East AsiaThis book reviews the current situation of each topic, so...

Key Features:Evaluates the policy problem of the Euro area from various fields, such as monetary, fiscal and exchange rate policy etc.Apply recently developed econometric techniques (i.e., non-stationary time series analysis) to empirical analysis.

In 1983, Meese and Rogoff showed that traditional economic models developed since the 1970s do not perform better than the random walk in predicting out-of-sample exchange rates when using data obtained after the beginning of the floating rate system. Subsequently, whether traditional economical...