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Optimal Currency Shares in International Reserves : The Impact of the Euro and the Prospects for the Dollar

Papaioannou, Elias - 2006

Foreign exchange reserve accumulation has risen dramatically in recent years. The introduction of the euro, greater liquidity in other major currencies, and the rising current account deficits and external debt of the United States have increased the pressure on central banks to diversify away...

Persistent link: https://www.econbiz.de/10012466332

Monetary Policy and the Currency Denomination of Debt : A Tale of Two Equilibria

Velasco, Andres - 2004

Exchange rate policies depend on portfolio choices, and portfolio choices depend on anticipated exchange rate policies. This opens the door to multiple equilibria in policy regimes. We construct a model in which agents optimally choose to denominate their assets and liabilities either in...

Persistent link: https://www.econbiz.de/10012467862

Estimating a natural level of financial dollarization in Ukraine

Khvedchuk, Kostiantyn; Sinichenko, Valentyna; Topf, Barry - In: Visnyk Nacionalʹnoho Banku Ukraïny (2019) 247, pp. 38-44

Persistent link: https://www.econbiz.de/10012216283

Consumption baskets and currency choice in international borrowing

Bengui, Julien; Nguyen, Ha - In: Journal of international money and finance 67 (2016), pp. 287-304

Persistent link: https://www.econbiz.de/10011711634

Financial Dollarization

Ize, Alain; Levy-Yeyati, Eduardo Levy - 2004

to estimate the scope for dollarization of assets and liabilities (financial dollarization) as a function of … macroeconomic uncertainty. Within this benchmark, we find that financial dollarization displays high persistence whenever the … stabilization has been achieved. The empirical evidence confirms that MVP dollarization approximates financial dollarization closely …

Persistent link: https://www.econbiz.de/10014071951

Chapter 19 Empirical studies of exchange rates: Price behavior, rate determination and market efficiency

Levich, Richard M. - In: Handbook of international economics : volume 2, (pp. 979-1040). 1985

This chapter provides an overview of empirical results concerning recent exchange rate behavior. Alternative valuation measures, time series, and distributional properties have been covered in the chapter, along with estimates of transaction costs in the foreign exchange market. The chapter...

Persistent link: https://www.econbiz.de/10014024998

An Unintended Consequence of Holding Dollar Assets

Czech, Robert; Huang, Shiyang; Lou, Dong; Wang, Tianyu - 2022

We study investor trading behaviour and yield patterns in the UK government bond market during the recent Covid crisis. We show that the yield spike in mid-March 2020 was accompanied by heavy selling of gilts by UK-based insurance companies and pension funds (ICPFs), which we argue was an...

Persistent link: https://www.econbiz.de/10013297986

Equilibrium foreign currency mortgages

Kolasa, Marcin - In: Review of economic dynamics 45 (2022), pp. 168-186

Persistent link: https://www.econbiz.de/10013347002

Issues in stability of European money demand : adjustment speed versus error variance

Läufer, Nikolaus - 1997

Persistent link: https://www.econbiz.de/10013388240

Effect of Economic Policy Uncertainty on the investment in numismatic assets : evidence for the Walking Liberty Half Dollar

Paule-Vianez, Jessica; Alcázar-Blanco, Antonio; Coca … - In: Finance research letters 46 (2022) 2, pp. 1-8

Persistent link: https://www.econbiz.de/10013341820