LCcarG715_en.pdf
... exchange rate regime. The final section specifies a model comprising 20 equations for smaller economies. The aim is to delineate the conditions under which an exchange rate regime is conducive to macroeconomic stability. ...
... exchange rate regime. The final section specifies a model comprising 20 equations for smaller economies. The aim is to delineate the conditions under which an exchange rate regime is conducive to macroeconomic stability. ...
The US dollar: Safe haven
... investments into US stocks and bonds less because they are in search of a safe currency but rather because they are in search of a liquid and less volatile market. The appreciation would thus be a secondary effect of this investment decision, in which the risk of a depreciation due to unsustainable ...
... investments into US stocks and bonds less because they are in search of a safe currency but rather because they are in search of a liquid and less volatile market. The appreciation would thus be a secondary effect of this investment decision, in which the risk of a depreciation due to unsustainable ...
eui working papers - Cadmus - European University Institute
... Unlike most other …nancial markets, the foreign exchange market is still dominated by direct trades between banks acting on behalf of their clients and themselves. According to the Bank for International Settlements (1999), only approximately 25–36% of the transactions (depending on the country) too ...
... Unlike most other …nancial markets, the foreign exchange market is still dominated by direct trades between banks acting on behalf of their clients and themselves. According to the Bank for International Settlements (1999), only approximately 25–36% of the transactions (depending on the country) too ...
Public Choice Theory and the Transition Market Economy in Eastern
... declared their commitment to a market economy.23 In the year following the elections, these Balkan nations took decisive actions directed at transition, albeit more slowly than the Central European nations. Yugoslavia's delay in making an economic transition is likely due to the extensive eth24 nic ...
... declared their commitment to a market economy.23 In the year following the elections, these Balkan nations took decisive actions directed at transition, albeit more slowly than the Central European nations. Yugoslavia's delay in making an economic transition is likely due to the extensive eth24 nic ...
Financial globalization and exchange rates
... Training Network Programme (Contract No. HPRN–CT–1999–00067). The views in this paper do not necessarily reflect those of the International Monetary Fund. ...
... Training Network Programme (Contract No. HPRN–CT–1999–00067). The views in this paper do not necessarily reflect those of the International Monetary Fund. ...
Trade, Prices, and the Exchange Rate with Heterogeneous
... on trade flows, the so called intensive and extensive margins of trade.1 Nevertheless, papers remain to be written about the implications of firm heterogeneity and firm reallocations for the impact of exchange rate changes on prices. This topic was indirectly suggested by Rudiger Dornbusch in his 19 ...
... on trade flows, the so called intensive and extensive margins of trade.1 Nevertheless, papers remain to be written about the implications of firm heterogeneity and firm reallocations for the impact of exchange rate changes on prices. This topic was indirectly suggested by Rudiger Dornbusch in his 19 ...
Quiz 8
... same price in all locations. If the price for a good is higher in one market than in another, someone can make a profit by purchasing the good where it is relatively cheap, and selling the good where it is relatively expensive. This process of arbitrage leads to an equalization of prices for the goo ...
... same price in all locations. If the price for a good is higher in one market than in another, someone can make a profit by purchasing the good where it is relatively cheap, and selling the good where it is relatively expensive. This process of arbitrage leads to an equalization of prices for the goo ...
Chapter 15 Price Levels and the Exchange Rate in the Long Run
... explain exchange rates. Both monetary factors and real factors influence nominal exchange rates: 1a. changes in monetary levels, leading to temporary inflation and changes in expectations about inflation. 1b. changes in monetary growth rates, leading to persistent inflation and changes in expectatio ...
... explain exchange rates. Both monetary factors and real factors influence nominal exchange rates: 1a. changes in monetary levels, leading to temporary inflation and changes in expectations about inflation. 1b. changes in monetary growth rates, leading to persistent inflation and changes in expectatio ...
A G-Ppp Analysis to the Eac Monetary Integration Process
... variety of products would also export a wider variety of goods. In that case, if a fall in the demand occurred for some of its products, the effect of such a shock would not create a large fall in employment. However, if an economy is less diversified, a shock that can affect one sector would necess ...
... variety of products would also export a wider variety of goods. In that case, if a fall in the demand occurred for some of its products, the effect of such a shock would not create a large fall in employment. However, if an economy is less diversified, a shock that can affect one sector would necess ...
Description of Investment Instruments and Warning of
... The bond yield is composed of the interest on capital and potential difference between the purchase price and the price achieved at sale/redemption. Consequently, the yield can only be determined in advance if the bond is held until maturity. With variable interest rates of bonds, the yield cannot b ...
... The bond yield is composed of the interest on capital and potential difference between the purchase price and the price achieved at sale/redemption. Consequently, the yield can only be determined in advance if the bond is held until maturity. With variable interest rates of bonds, the yield cannot b ...
PDF
... This is particularly true for developing countries where the export sector usually represents a substantial part of the economy. Fluctuations in the export revenues of these countries may cause adverse effects on the economy as the whole. To guard against these effects, most developing countries hav ...
... This is particularly true for developing countries where the export sector usually represents a substantial part of the economy. Fluctuations in the export revenues of these countries may cause adverse effects on the economy as the whole. To guard against these effects, most developing countries hav ...
Securities and Exchange Board of India
... (a) "Single Clearing Price” is the price at which the shares are allocated to the successful bidders in a proportionate basis methodology. (b) “Multiple Clearing Prices” are the prices at which the shares are allocated to the successful bidders in a price priority methodology. (c) “Indicative Price” ...
... (a) "Single Clearing Price” is the price at which the shares are allocated to the successful bidders in a proportionate basis methodology. (b) “Multiple Clearing Prices” are the prices at which the shares are allocated to the successful bidders in a price priority methodology. (c) “Indicative Price” ...
EMU and FDI flows within EU selected countries.
... the reduction of transaction costs when it is necessary to change currency in order to curry out a transaction. Transaction costs from currency exchange are financial costs and in-house costs. Emerson (1992) estimated that for the members of the European Monetary Union, total savings from abolishing ...
... the reduction of transaction costs when it is necessary to change currency in order to curry out a transaction. Transaction costs from currency exchange are financial costs and in-house costs. Emerson (1992) estimated that for the members of the European Monetary Union, total savings from abolishing ...
A Hybrid Financial Trading System
... and application of forecasting concepts. Recent years have seen a broadening of the array of computer technologies applied to forecasting. With the advent of the popularity of the Internet, data of various financial markets can be easily accessed. However, due to time and computational constraints, ...
... and application of forecasting concepts. Recent years have seen a broadening of the array of computer technologies applied to forecasting. With the advent of the popularity of the Internet, data of various financial markets can be easily accessed. However, due to time and computational constraints, ...
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... and application of forecasting concepts. Recent years have seen a broadening of the array of computer technologies applied to forecasting. With the advent of the popularity of the Internet, data of various financial markets can be easily accessed. However, due to time and computational constraints, ...
... and application of forecasting concepts. Recent years have seen a broadening of the array of computer technologies applied to forecasting. With the advent of the popularity of the Internet, data of various financial markets can be easily accessed. However, due to time and computational constraints, ...
Press Release - Société Générale
... “Global Program Trading is a core and integral part of the Client Trading Group, which was established last year in order to enhance our trading, sales-trading, market-making and execution services for our institutional clients.” --ends-For further information please contact: SG CIB Peter Lewis, Hea ...
... “Global Program Trading is a core and integral part of the Client Trading Group, which was established last year in order to enhance our trading, sales-trading, market-making and execution services for our institutional clients.” --ends-For further information please contact: SG CIB Peter Lewis, Hea ...
a comparison of the classical black-scholes model
... Just like any other stock market, in a foreign exchange market, holding the basic asset (currency) is a risky business. The exchange rate varies from time to time just as the stock prices do. Foreign exchange involves two assets which pay interest and the exchange rate itself. The exchange rate mean ...
... Just like any other stock market, in a foreign exchange market, holding the basic asset (currency) is a risky business. The exchange rate varies from time to time just as the stock prices do. Foreign exchange involves two assets which pay interest and the exchange rate itself. The exchange rate mean ...
Foreign Exchange Risk Management Practices
... they had been during the previous system with an inflexible exchange rate. The SEK depreciated against foreign currencies after the introduction of the floating exchange rate. This favoured the exporting companies when their goods and services, in relative terms, became cheaper for their foreign par ...
... they had been during the previous system with an inflexible exchange rate. The SEK depreciated against foreign currencies after the introduction of the floating exchange rate. This favoured the exporting companies when their goods and services, in relative terms, became cheaper for their foreign par ...
The Components of Electronic Order-Driven Spot FX Bid
... The negative serial correlation restriction, π>0.5, is the only element of the Huang and Stoll (1997) model that imposes transitory behaviour on the inventory component of the bid-ask spread. The authors justify this restriction by acknowledging the need for market makers to “recover inventory holdi ...
... The negative serial correlation restriction, π>0.5, is the only element of the Huang and Stoll (1997) model that imposes transitory behaviour on the inventory component of the bid-ask spread. The authors justify this restriction by acknowledging the need for market makers to “recover inventory holdi ...
Dollar Bloc or Dollar Block: External Currency Pricing and the Abstract
... important element. Figure 1 shows the effects of the crisis on the export and import prices for Korea, Malaysia and Thailand, relative to their pre-crisis trend (panels G and H). In the wake of the sharp devaluation, both import and export price deflators rise sharply. Hence, there is high exchange ...
... important element. Figure 1 shows the effects of the crisis on the export and import prices for Korea, Malaysia and Thailand, relative to their pre-crisis trend (panels G and H). In the wake of the sharp devaluation, both import and export price deflators rise sharply. Hence, there is high exchange ...
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... uncertainty in trade and investment. Fixed rates make planning easier because one does not have to calculate with floating and variable rates, which would increase the risk of doing international business. With floating rates the domestic return of exports is uncertain if immediate payment is not fo ...
... uncertainty in trade and investment. Fixed rates make planning easier because one does not have to calculate with floating and variable rates, which would increase the risk of doing international business. With floating rates the domestic return of exports is uncertain if immediate payment is not fo ...
A theory of the currency denomination of international trade
... various preference parameters, but the results are difficult to understand as various mechanisms are at work. Devereux et al. (2004) examine the invoicing choice when countries have different levels of monetary volatility. They show that countries with lower monetary volatility prefer to price in th ...
... various preference parameters, but the results are difficult to understand as various mechanisms are at work. Devereux et al. (2004) examine the invoicing choice when countries have different levels of monetary volatility. They show that countries with lower monetary volatility prefer to price in th ...
Internationalization of Renminbi: What does the Evidence Suggest?
... reforms its financial system. Nevertheless, given the rapid changes in the global economy, market forces might prompt RMB’s arrival much earlier than the schedule. Further, the paper indicates that the world is perhaps heading towards an era of multiple currency reserve system whereby the RMB could ...
... reforms its financial system. Nevertheless, given the rapid changes in the global economy, market forces might prompt RMB’s arrival much earlier than the schedule. Further, the paper indicates that the world is perhaps heading towards an era of multiple currency reserve system whereby the RMB could ...
Weak dollar, strong euro? - Centre for European Reform
... of about 40 per cent each for the dollar and the euro, with about 20 per cent remaining for the yen and a few minor currencies. Even if EMU comprised only half a dozen “core countries”, for example Benelux, France, Germany and Austria, it would still constitute an economy about two-thirds the size o ...
... of about 40 per cent each for the dollar and the euro, with about 20 per cent remaining for the yen and a few minor currencies. Even if EMU comprised only half a dozen “core countries”, for example Benelux, France, Germany and Austria, it would still constitute an economy about two-thirds the size o ...