The currency union effect on trade - Inter
... countries that share a common currency trade three times more than two similar countries with different currencies. Yet while the rapidly expanding literature on this issue, which we will review in the next section, has generally found large and significant common currency effects, it is not clear w ...
... countries that share a common currency trade three times more than two similar countries with different currencies. Yet while the rapidly expanding literature on this issue, which we will review in the next section, has generally found large and significant common currency effects, it is not clear w ...
current politics and economics of europe
... of both politics and economics. In many respects our approach is an interdisciplinary one, in that we aim to publish articles that will receive an audience in both the political science and economics subject areas – and, hopefully, beyond. In the second issue of the journal we identify more closely ...
... of both politics and economics. In many respects our approach is an interdisciplinary one, in that we aim to publish articles that will receive an audience in both the political science and economics subject areas – and, hopefully, beyond. In the second issue of the journal we identify more closely ...
Initiative for Policy Dialogue Working Paper Series Resilience
... of vulnerability of emerging economies to capital account volatility back in the agenda. The predictable reversal of the capital flows that was then unleashed is, of course, the counterpart of the opposite phenomenon that the Brazilian Finance Minister Guido Mantega coined the “currency wars”: exces ...
... of vulnerability of emerging economies to capital account volatility back in the agenda. The predictable reversal of the capital flows that was then unleashed is, of course, the counterpart of the opposite phenomenon that the Brazilian Finance Minister Guido Mantega coined the “currency wars”: exces ...
The Bretton Woods International Monetary System
... the declaration of par values by thirty-two countries on 18 December 1946 to the closing of the gold window on 15 August 1971, it lasted twenty-five years.’ However, most analysts would agree that, until the Western European industrial countries made their currencies convertible on 27 December 1958, ...
... the declaration of par values by thirty-two countries on 18 December 1946 to the closing of the gold window on 15 August 1971, it lasted twenty-five years.’ However, most analysts would agree that, until the Western European industrial countries made their currencies convertible on 27 December 1958, ...
Effectiveness of devaluation in achieving Internal and External
... This study used VAR and tested the short and long run effects of exchange rate depreciation and devaluation, real GDP and Real Effective Exchange Rate on trade balance. With the second model, impacts of real effective exchange rate on inflation was also tested along with different variables. Interna ...
... This study used VAR and tested the short and long run effects of exchange rate depreciation and devaluation, real GDP and Real Effective Exchange Rate on trade balance. With the second model, impacts of real effective exchange rate on inflation was also tested along with different variables. Interna ...
Exchange Rates, Economic Integration and the International
... This book is a collection of papers presented at an international conference on Exchange Rates, Economic Integration and the International Economy, that took place at Ryerson University, Toronto, May 17-19, 2002. At the conference, 47 papers were presented along with two roundtable sessions: (a) “NA ...
... This book is a collection of papers presented at an international conference on Exchange Rates, Economic Integration and the International Economy, that took place at Ryerson University, Toronto, May 17-19, 2002. At the conference, 47 papers were presented along with two roundtable sessions: (a) “NA ...
currency boards for developing countries
... Since the final breakup of the Bretton Woods monetary system in 1973, the gap that once existed between the currencies of developed and developing countries has widened into a gulf. During the Bretton Woods system and the "classical," pre-1914 gold standard, and to a lesser extent also between the w ...
... Since the final breakup of the Bretton Woods monetary system in 1973, the gap that once existed between the currencies of developed and developing countries has widened into a gulf. During the Bretton Woods system and the "classical," pre-1914 gold standard, and to a lesser extent also between the w ...
Currency Boards for Developing Countries
... Since the final breakup of the Bretton Woods monetary system in 1973, the gap that once existed between the currencies of developed and developing countries has widened into a gulf. During the Bretton Woods system and the "classical," pre-1914 gold standard, and to a lesser extent also between the w ...
... Since the final breakup of the Bretton Woods monetary system in 1973, the gap that once existed between the currencies of developed and developing countries has widened into a gulf. During the Bretton Woods system and the "classical," pre-1914 gold standard, and to a lesser extent also between the w ...
That Which We Call Capital Controls
... attempts at fine-tuning the economy (since part of their justification is that they give policy autonomy), which itself became discredited after the stagflationary 1970s—paving the way for the free market ideology that was highly prevalent till the global financial crisis.7 Inflow controls thus appe ...
... attempts at fine-tuning the economy (since part of their justification is that they give policy autonomy), which itself became discredited after the stagflationary 1970s—paving the way for the free market ideology that was highly prevalent till the global financial crisis.7 Inflow controls thus appe ...
THE ENIGMATIC DOLLAR-EURO EXCHANGE RATE AND THE
... We have become accustomed to the fact that the dollar-euro exchange rate is fickle und seemingly unforecastable. Since its inception, it bottomed out at 0.82 dollar per euro, and peaked at 1,60. Many economists and policy makers take it as the fate of modern time, unchangeable like the tides of the ...
... We have become accustomed to the fact that the dollar-euro exchange rate is fickle und seemingly unforecastable. Since its inception, it bottomed out at 0.82 dollar per euro, and peaked at 1,60. Many economists and policy makers take it as the fate of modern time, unchangeable like the tides of the ...
Macroeconomic Policy Responses to Financial
... real domestic and external shocks, the recent literature tends to show the advantages of floating exchange rates to respond to the financial crisis. On the one hand, emerging countries with fixed exchange rate regimes experienced weaker decreases in their interest rates relative to floaters (IMF, 20 ...
... real domestic and external shocks, the recent literature tends to show the advantages of floating exchange rates to respond to the financial crisis. On the one hand, emerging countries with fixed exchange rate regimes experienced weaker decreases in their interest rates relative to floaters (IMF, 20 ...
Modelling the rand and commodity prices: A Granger causality and
... Australian Dollar exchange rate and nominal commodity prices. Using the Engle-Granger cointegration methodology, he finds that the variables exhibit dual causality and negative correlation (-0.8952), with the significantly stronger causality running from commodity prices to the exchange rate, findin ...
... Australian Dollar exchange rate and nominal commodity prices. Using the Engle-Granger cointegration methodology, he finds that the variables exhibit dual causality and negative correlation (-0.8952), with the significantly stronger causality running from commodity prices to the exchange rate, findin ...
Foreign Exchange Market Organization in Selected
... The U.S. dollar is the most traded foreign currency in developing economies.9 It is even the most traded foreign currency in several countries applying for European Union membership (the Czech Republic, the Slovak Republic, and Poland). The exceptions are those countries that peg the value of their ...
... The U.S. dollar is the most traded foreign currency in developing economies.9 It is even the most traded foreign currency in several countries applying for European Union membership (the Czech Republic, the Slovak Republic, and Poland). The exceptions are those countries that peg the value of their ...
Global Shocks, Global Financial Crises: How can small open economies like
... We identified currency crisis dates using an “exchange market pressure” measure and, alternatively, survey of expert opinion. We use the union of these indicators and an EMP cutoff of 1.5 standard deviations from the mean. For banking crises, we adopted World Bank dates for post-1971 period, and use ...
... We identified currency crisis dates using an “exchange market pressure” measure and, alternatively, survey of expert opinion. We use the union of these indicators and an EMP cutoff of 1.5 standard deviations from the mean. For banking crises, we adopted World Bank dates for post-1971 period, and use ...
Trade Effect of a Single Currency in East Africa
... Finally, there are proposed monetary unions for China, Japan and South Korea (Asian Currency Unit) and the Amero for Canada, the United States and Mexico as well as one for Australia, New Zealand and Papua New Guinea. The East African monetary union that will include Burundi, Kenya, Rwanda, Tanzani ...
... Finally, there are proposed monetary unions for China, Japan and South Korea (Asian Currency Unit) and the Amero for Canada, the United States and Mexico as well as one for Australia, New Zealand and Papua New Guinea. The East African monetary union that will include Burundi, Kenya, Rwanda, Tanzani ...
Momentum`s Got Style Style Investing and - Aalto
... limited cognitive abilities so that we can make decisions with less effort than if we treated each object uniquely. Categorization applies also to financial markets where information is abundant. Investors categorize individual assets into asset classes, such as equities, bonds, or currencies, to si ...
... limited cognitive abilities so that we can make decisions with less effort than if we treated each object uniquely. Categorization applies also to financial markets where information is abundant. Investors categorize individual assets into asset classes, such as equities, bonds, or currencies, to si ...
Is the Crisis Problem Growing More Severe?
... paper can be addressed. Even that handful of studies which compares the 1990s with the immediately preceding decades (e.g. IMF 1998, Caprio and Kingebiel 1999) should create some uneasiness on the part of those presuming that our’s is a distinctive age of financial instability. Their crisis chronolo ...
... paper can be addressed. Even that handful of studies which compares the 1990s with the immediately preceding decades (e.g. IMF 1998, Caprio and Kingebiel 1999) should create some uneasiness on the part of those presuming that our’s is a distinctive age of financial instability. Their crisis chronolo ...
Lectures on International Money
... for medium sized purchases and gold for larger purchases. These were all commodity money. That means that they had a value independent from their value as money. One is willing to hold precious metals even if one can not use them in day-to-day transactions. – As a unit of account: gold works well if ...
... for medium sized purchases and gold for larger purchases. These were all commodity money. That means that they had a value independent from their value as money. One is willing to hold precious metals even if one can not use them in day-to-day transactions. – As a unit of account: gold works well if ...