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This paper tests whether reserve portfolios respond to exchange rate changes with a portfolio rebalancing strategy, which requires the purchase of depreciating currencies and sale of appreciating ones. The paper finds empirical support for the strategy, in particular that dollar...
Persistent link: https://www.econbiz.de/10014401243
This paper summarizes recent arguments/findings on two aspects of foreign direct investment (FDI): its correlation with economic growth and its determinants. The first part focuses on recent literature regarding positive spillovers from FDI while the second deals with the determinants of FDI....
Persistent link: https://www.econbiz.de/10014403606
The paper examines the experiences of countries in defining monetary aggregates, particularly those countries that have undertaken substantial redefinitions. It finds that both the functional and empirical approaches are important; and that monetary definitions tend to be dynamic in nature,...
Persistent link: https://www.econbiz.de/10014403833
Persistent link: https://www.econbiz.de/10001634245
Persistent link: https://www.econbiz.de/10001760496
This paper tests whether reserve portfolios respond to exchange rate changes with a portfolio re-balancing strategy, which requires the purchase of depreciating currencies and sale of appreciating ones. The paper finds empirical support for the strategy, in particular that dollar...
Persistent link: https://www.econbiz.de/10012773129
This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view emphasizes Europe's large economy and diversification effects as undergirding a vigorous challenge. The other emphasizes 'network externalities', particularly undergirding continued...
Persistent link: https://www.econbiz.de/10012779714
The paper examines the experiences of countries in defining monetary aggregates, particularly those countries that have undertaken substantial redefinitions. It finds that both the functional and empirical approaches are important; and that monetary definitions tend to be dynamic in nature,...
Persistent link: https://www.econbiz.de/10012783038