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Is There a Contemporaneous Relation between Exchange Rates and Stock Prices? Evidence from Decisions to Allow the Mexican Peso and Thai Baht to Float
Dewenter, Kathryn L.; Higgins, Robert C.; Simin, Timothy T. - 2002
This paper estimates short horizon exchange rate sensitivity with an event study methodology. We look at stock price reactions to very large, unexpected exchange rate changes: the decisions to allow the Mexican peso and Thai baht to float. For both events, we find evidence of a statistically and...
Persistent link: https://www.econbiz.de/10014118788
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Foreign Exchange Rate Uncertainty in Korea
Lee, Seojin - 2020
Applying Ismailov and Rossi (2018), I newly construct the Korea FX uncertainty based on the density distribution of historical forecast errors. This uncertainty index properly captures the rare but significant events in the Korean currency market and provides information distinct from other...
Persistent link: https://www.econbiz.de/10014095570
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Lessons of the crisis for emerging markets
Eichengreen, Barry - 2009
regulation. By contrast, the implications for other dimensions of globalization and for the structure of the international …
Persistent link: https://www.econbiz.de/10010279791
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China's current account and exchange rate
Cheung, Yin-Wong; Chinn, Menzie David; Fujii, Eiji - 2009
We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. We find, first, that the Chinese currency, the renminbi (RMB), is substantially below the value predicted by estimates based upon a cross-country sample,...
Persistent link: https://www.econbiz.de/10003818038
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China's Current Account and Exchange Rate
Cheung, Yin-Wong - 2013
We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. We find, first, that the Chinese currency, the renminbi (RMB), is substantially below the value predicted by estimates based upon a cross-country sample,...
Persistent link: https://www.econbiz.de/10012753166
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Global Implications of a US-Led Currency War
Triggs, Adam - 2020
In 2019, President Trump called on the U.S. Federal Reserve to cut interest rates to depreciate the U.S. dollar, which, according to the IMF, is overvalued by between 6 and 12 percent. This paper uses an intertemporal general equilibrium model to explore what would likely happen if the...
Persistent link: https://www.econbiz.de/10012840710
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Barriers to Global Capital Allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain T. - 2021
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...
Persistent link: https://www.econbiz.de/10013242281
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Economic Globalization, Informality and Informal Employment : The African Perspective
Anyigba, Hod - 2020
Economic Globalization has a twofold impact on working individuals in developing economies – a surge in informal … economic activities and fragmentation of work on one hand and expansion of opportunities, on the other. Economic globalization …, erupting in cross-border division of labor and production. This trend is, and will remain, irreversible. We see globalization …
Persistent link: https://www.econbiz.de/10012829683
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The Long-Term Sustenance of Sustainability Practices in MNCs : A Dynamic Capabilities Perspective of the Role of R&D and Internationalization
Chakrabarty, Subrata; Wang, Liang (Lucas) - 2013
What allows MNCs to maintain their sustainability practices over the long term? This is an important but under-examined question. To address this question, we investigate both the development and sustenance of sustainability practices. We use the dynamic capabilities perspective, rooted in...
Persistent link: https://www.econbiz.de/10014040789
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A Model of Sovereign Borrowing and Sovereign Yield Spreads
Gibson, Rajna - 2011
In a continuous-time setting, we model the problem of sovereign borrowing. In our model, borrowing is used to generate exports. The sovereign borrower in our model is subject to two types of potential retaliatory actions from the lender in the event of default. First, the lender can capture a...
Persistent link: https://www.econbiz.de/10012757375