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Does central bank transparency deter the exchange rate volatility? : new evidence from Asian emerging markets

Aftab, Muhammad; Mehmood, Ahsan - In: Journal of central banking theory and practice 12 (2023) 2, pp. 133-163

Exchange rate volatility has emerged as a significant chal-lenge for Asian emerging markets since the adoption of the liberalization process. This study examines the influence of central banktransparency on exchange rate volatility using a sample of ten important Asian emerging markets. The...

Persistent link: https://www.econbiz.de/10014316656

Relative monetary policy and exchange rates

Karau, Sören - 2024

I show that the majority of short-term nominal exchange rate fluctuations among large economies can be explained by changes in the relative stance of their monetary policies. Adapting recently developed instrumental variable techniques for shock identification, I find that monetary policy shocks...

Persistent link: https://www.econbiz.de/10015079889

Dollarization as an effective commitment device : the case of Argentina

Ocampo, Emilio - 2023

inflation. To be effective, dollarization must generate sufficient credibility, which in turn depends critically on whether its … expected probability of reversal is low. Argentina once again faces high, persistent, and volatile inflation. With a looming …

Persistent link: https://www.econbiz.de/10014230321

Monetary policy in an oil-dependent economy in the presence of multiple shocks

Drygalla, Andrej - Leibniz-Institut für Wirtschaftsforschung Halle - 2017

flows substantially affect domestic variables such as inflation, output and the exchange rate. Simulations of the model for … external shocks can substantially be lowered by adopting some form of an inflation targeting strategy. Foreign exchange …

Persistent link: https://www.econbiz.de/10011657233

Sterilization, monetary policy, and global financial integration

Aizenman, Joshua; Glick, Reuven - 2008

This paper investigates the changing pattern and efficacy of sterilization within emerging market countries as they liberalize markets and integrate with the world economy. We estimate the marginal propensity to sterilize foreign asset accumulation associated with net balance of payments...

Persistent link: https://www.econbiz.de/10003854762

Sterilization, Monetary Policy, and Global Financial Integration

Aizenman, Joshua - 2009

Persistent link: https://www.econbiz.de/10012718801

The Financial Crisis, Rethinking of the Global Financial Architecture, and the Trilemma

Aizenman, Joshua - 2010

This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...

Persistent link: https://www.econbiz.de/10013144649

Convertibility Restriction in China’s Foreign Exchange Market and its Impact on Forward Pricing

Wang, Yi David - 2010

Different from the well established markets such as the dollar-Euro market, recent CIP deviations observed in the onshore dollar-RMB forward market were primarily caused by conversion restrictions in the spot market rather than changes in credit risk and/or liquidity constraint. This paper...

Persistent link: https://www.econbiz.de/10013135919

Renminbising China’s Foreign Assets

Cheung, Yin-Wong - 2010

Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the … currency composition of China's international assets and liabilities. These factors include, among others, underlying valuation …

Persistent link: https://www.econbiz.de/10013141641

Convertibility Restriction in China's Foreign Exchange Market and its Impact on Forward Pricing

Wang, Yi David - 2014

In contrast to the well established markets such as the dollar-euro market, recent CIP deviations observed in the onshore dollar-RMB forward market were primarily caused by conversion restrictions in the spot market rather than by changes in credit risk and/or liquidity constraint. This paper...

Persistent link: https://www.econbiz.de/10013064910