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forecasters conducted monthly by Banco de Mexico since 1999. In order to capture the expectations of a broad set of economic … the model to analyze if uncertainty regarding NAFTA and Mexico's trade liberalization policies has had an impact on the …
Persistent link: https://www.econbiz.de/10012897453
Since Mexico's devaluation of the peso in 1994, some observers have called for policies designed to keep the real … devaluation has led to high inflation and economic contraction in Mexico. While changes in Mexico's economic structure and …
Persistent link: https://www.econbiz.de/10014063181
Mexico. The paper argues that, while earlier devaluation might have been helpful, Mexico?s economic growth strategy in the … early 1990s was fraught with internal inconsistencies that made a collapse of that strategy inevitable. Especially, Mexico … order to control inflation. The paper argues that Mexico is trying an economic strategy based on a redistribution of income …
Persistent link: https://www.econbiz.de/10014064146
This paper examines the importance of exchange rate exposure in the return generating process for a large sample of non-financial firms from 37 countries. We argue that the effect of exchange rate exposure on stock returns is conditional and show evidence of a significant return impact to...
Persistent link: https://www.econbiz.de/10012905762
We study the international propagation of long-run risk in the context of a general equilibrium model with endogenous growth. Innovation and international diffusion of technologies are the channels at the core of our mechanism. A calibrated version of the model matches several asset pricing and...
Persistent link: https://www.econbiz.de/10013405369
We investigate the drivers of daily changes in the exchange value of the Chinese currency (CNY) since early 2016, when a new regime was introduced for setting the fix - the midpoint of the CNY's daily trading range against the U.S. dollar. Daily changes in the fix, which is announced just prior...
Persistent link: https://www.econbiz.de/10011754330
Il presente articolo esamina i vantaggi relativi dei tassi di cambio fluttuanti nei confronti di un regime di tassi di cambio a parità rigidamente ancorate (hard peg), ponendo particolare enfasi sulle implicazioni per la domanda effettiva. In particolare, esso valuta se un deprezzamento della...
Persistent link: https://www.econbiz.de/10013091008
We investigate the drivers of daily changes in the exchange value of the Chinese currency (CNY) since early 2016, when a new regime was introduced for setting the fix—the midpoint of the CNY's daily trading range against the U.S. dollar. Daily changes in the fix, which is announced just prior...
Persistent link: https://www.econbiz.de/10012943314
This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues underlying the transition, including developing a deep and liquid foreign exchange market, formulating intervention policies consistent with...
Persistent link: https://www.econbiz.de/10012783121
This paper uses event study analysis and synthetic control estimation analysis to explore how the trend of the risk premium changes when a country breaks its exchange rate peg. We perform abnormal return and cumulative abnormal return estimations on daily fluctuations of country spread index,...
Persistent link: https://www.econbiz.de/10012851856