A Study to Determine the Effects of Floating Foreign Exchange Rates on the Riskiness of Multinational Enterprises PDF Download
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Author: Carl B. McGowan
Publisher:
ISBN:
Category : Currency convertibility
Languages : en
Pages : 156
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Author: Carl B. McGowan
Publisher:
ISBN:
Category : Currency convertibility
Languages : en
Pages : 156
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Author: Romain Lafarguette
Publisher: International Monetary Fund
ISBN: 1513569406
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 794
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Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 680
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
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Author:
Publisher: 清华大学出版社有限公司
ISBN: 9787810822855
Category : Corporations
Languages : en
Pages : 802
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557750655
Category : Business & Economics
Languages : en
Pages : 76
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In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.
Author: Ronald MacDonald
Publisher: Routledge
ISBN: 1134838220
Category : Foreign exchange
Languages : en
Pages : 334
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Book Description
''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Author: Mr.Sonali Das
Publisher: International Monetary Fund
ISBN: 1498302025
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Author:
Publisher:
ISBN:
Category : Dissertation abstracts
Languages : en
Pages : 776
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