Exchange Rate
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Impact of foreign exchange interventions on exchange rate expectations
... One interesting question is whether central bank intervention can provide guidance to market participants about the central banks’ desire about exchange rate movement. A study by Rülke and Yoshida (2009) ...
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An Appraisal of Floating Exchange Rate Regimes in Latin America
... floating exchange rate regimes were adopted at the end of the 1990s the IMF was emphatically in favour of free ...foreign exchange market ...real exchange rate” and the presumption that ...
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Fiscal policy and the real exchange rate: some evidence from Spain
... real exchange rate, both in terms of the CPI and export prices, on decreasing the demand for ...real exchange rate would appreciate in terms of the CPI but depreciate in terms of export ...
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A regime switching analysis of the exchange rate pass-through
... the exchange rate variable as an average of monthly nominal market rates, official rates if market rates are not avail- able (source: International Financial Statistics), over the model year of the ...The ...
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The real exchange rate, regime changes and volatility shifts
... real exchange rate from its PPP level disappears in less than two years, results consistent with Cheung and Lai and ...nominal rate as market forces compel a return to the PPP ...
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The real exchange rate as a target of macroeconomic policy
... real exchange rate (SCRER) can foster economic growth in developing countries has gained lots of ...real exchange rate (RER) levels are positively associated with economic ...
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Unemployment and the real exchange rate in Latin America
... change rate regimes and exchange rate ...change rate policy with development objectives, Williamson reconsiders arguments by Balassa (1971), who believed that exchange rate ...
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A concise history of exchange rate regimes in Latin America
... the exchange rate regime promoted during the Bretton Woods ...the rate gradually over time in a series of small corrections, instead of sudden and unanticipated discrete changes as with the ...
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Firm dynamics and real exchange rate fluctuations : does trade openness matter?
... The specific path of adjustment the country follows can have important welfare con- sequences. Calvo, Izquierdo, and Talvi (2003) highlight this point from a slightly different angle. In their post-mortem analysis of ...
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Exchange rate interventions and inflation expectations in an inflation targeting economy
... of exchange rate interventions over the distribution of inflation expectations may naturally depend on the economic environment in which they are ...
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A model of medium term exchange rate forecast in an open economy
... on exchange rate arbitrage conditions term was proposed by Samuelson (1965) and empirically developed by Cornell and Dietrich (1978) without conclusive results achieved in their ...forward rate as an ...
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THE POLITICAL OBSTACLES TO GREATER EXCHANGE RATE FLEXIBILITY IN CHINA
... of exchange rate regime on a spectrum from floating to fixed, employing the classification scheme from the IMF’s Ex- change Arrangements and Exchange Restric- ...the exchange rate regime ...
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Does internationalisation increase exchange rate exposure? Evidence from Chinese financial firms
... symmetric exchange rate exposure from TWEER movements is associated with a group of firm level indicators, including total assets, T A × T A, EPS, IN I 2Asset, Lia2Asset and firm size, and the determinants ...
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External Shocks and Monetary Policy. Does it Pay to Respond to Exchange Rate Deviations?
... where the variables are expressed as deviations from the steady state levels. Equation (1) is an aggregate demand equation in which the output gap, y t , responds to the n − period long-term real interest rate, ρ ...
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Classifying exchange rate regimes: deeds vs. words
... both exchange rate variables, ME and DE, ...nominal exchange rate, and the number of cases decreases as the monthly devaluation ...the rate of change of the nominal exchange ...
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Identification of important news for exchange rate modeling
... Abstract. Associating the pattern in text data with the pattern with time series data is a novel task. In this paper, an approach that utilizes the features of the time series data and domain knowledge is proposed and ...
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Order Flow and Exchange Rate Dynamics
... dollar exchange rate and more than 40 percent of daily changes in the log yen/dollar ...lower-frequency exchange rate dynamics emerge from the market’s operation in real ...
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Escape Clauses and Targeting of the Real Exchange Rate: The Case of Nominal Exchange Rate Pegging
... real exchange rate has an expected value equal to zero) and the expected value for the real exchange rate is ...real exchange rate in the economy equals that lower bound, which ...
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Exchange rate and fiscal performance . Do fixed exchange rate regimes generate more discipline than flexible ones?
... fixed exchange rate would imply a big political cost for the policy maker, this one would be disciplined, causing unsustainable fiscal policies not to occur in ...
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Why Have so Many Disinflations Succeeded?
... floating exchange rate regimes (following the fall of the Bretton Woods System) were unwilling to fight the inflationary consequences of supply shocks, ended up in many cases with persistent inflation rates ...
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