A Survey: The Theory of International Interest and Exchange Rates Working Paper 162 PDF Download
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Author: Gunter Dufey and Arvind K. Jain
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Author: Gunter Dufey and Arvind K. Jain
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Book Description
Author: Gunter Dufey
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Hyoung-Seok Lim
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 40
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Author: Ogaki, Masao
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 265
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Author: Gustavo Adler
Publisher: International Monetary Fund
ISBN: 1513534602
Category : Business & Economics
Languages : en
Pages : 42
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We study the effect of foreign exchange intervention on the exchange rate relying on an instrumental-variables panel approach. We find robust evidence that intervention affects the level of the exchange rate in an economically meaningful way. A purchase of foreign currency of 1 percentage point of GDP causes a depreciation of the nominal and real exchange rates in the ranges of [1.7-2.0] percent and [1.4-1.7] percent respectively. The effects are found to be quite persistent. The paper also explores possible asymmetric effects, and whether effectiveness depends on the depth of domestic financial markets.
Author: Julian Di Giovanni
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 44
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This paper explores the connection between interest rates in major industrial countries and annual real output growth in other countries. The results show that high large-country interest rates have a contractionary effect on annual real GDP growth in the domestic economy, but that this effect is centered on countries with fixed exchange rates. The paper then examines the potential channels through which large-country interest rates affect small economies. The direct monetary policy channel is the most likely channel when compared with other possibilities, such as a general capital market effect or a trade effect.
Author: Ronald MacDonald
Publisher: Routledge
ISBN: 1134838220
Category : Foreign exchange
Languages : en
Pages : 334
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''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: Jeffrey A. Frankel
Publisher: MIT Press
ISBN: 9780262061544
Category : Business & Economics
Languages : en
Pages : 468
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Book Description
These seventeen essays provide an accessible and thorough reference for understanding the role of exchange rates in the international monetary system since 1973, when the rates were allowed to float. The essays analyze such issues as exchange rate movements, exchange risk premia, investor expectations of exchange rates and behavior of exchange rates in different systems. Frankel's sound empirical treatment of exchange rate questions shows that it is possible to produce work that is interesting from a purely intellectual viewpoint while contributing to practical knowledge of the real world of international economics and finance.The essays have been organized in a way that provides an introduction to the field of empirical international finance. Part I documents the steady reduction in barriers to international capital movement and leads logically to part II, which explains how exchange rates are determined. Both monetary and portfolio-based models are surveyed in part II, providing a clear transition to the topic of part III; the possible existence of an exchange risk premium. Part IV applies the tools discussed in earlier sections to explore various policy questions related to exchange rate expectations such as whether foreign exchange intervention matters and whether the European monetary system had become credible by 1991. Each part begins with a detailed introduction explaining not only the central issues of that section but also suggesting connections with other essays in the book.Jeffrey A. Frankel is Professor of Economics at the University of California, Berkeley.
Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 984
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Author:
Publisher:
ISBN:
Category : International economic relations
Languages : en
Pages : 158
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