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Author: Jesús Crespo-Cuaresma
Publisher:
ISBN: 9789516868762
Category : Economic policy
Languages : en
Pages : 23
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Book Description
Tiivistelmä.
Author: Jesús Crespo-Cuaresma
Publisher:
ISBN: 9789516868762
Category : Economic policy
Languages : en
Pages : 23
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Book Description
Tiivistelmä.
Author: Jesús Crespo-Cuaresma
Publisher:
ISBN:
Category : Europe, Eastern
Languages : fi
Pages : 23
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Book Description
Author: Mr.Mark P. Taylor
Publisher: International Monetary Fund
ISBN: 1451964390
Category : Business & Economics
Languages : en
Pages : 61
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Book Description
We survey the literature on the two main views of exchange rate determination that have evolved since the early 1970s: the monetary approach to the exchange rate (in flex-price, sticky-price and real interest differential formulations) and the portfolio balance approach. We then go on to discuss the extant empirical evidence on these models and conclude by discussing how the future research strategy in the area of exchange rate determination is likely to develop. We also discuss the literature on foreign exchange market efficiency, on exchange rates and ‘news’ and on international parity conditions.
Author:
Publisher:
ISBN: 9789524622783
Category :
Languages : en
Pages : 20
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Author: Mr.Mark P. Taylor
Publisher: International Monetary Fund
ISBN: 1451978804
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
We re-examine the monetary approach to the exchange rate from a number of perspectives, using monthly data on the deutschemark-dollar exchange rate. Using the Campbell-Shiller technique for testing present value models, we reject the restrictions imposed upon the data by the forward-looking rational expectations monetary model. We demonstrate, however, that the monetary model is validated as a long-run equilibrium condition. Moreover, imposing the long-run monetary model restrictions in a dynamic error correction framework leads to exchange rate forecasts which are superior to those generated by a random walk forecasting model.
Author: J. Herin
Publisher: Springer
ISBN: 1349033596
Category : Business & Economics
Languages : en
Pages : 286
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Book Description
Author: Lucio Sarno
Publisher: Cambridge University Press
ISBN: 9780521485845
Category : Business & Economics
Languages : en
Pages : 334
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Book Description
In the last few decades exchange rate economics has seen a number of developments, with substantial contributions to both the theory and empirics of exchange rate determination. Important developments in econometrics and the increasingly large availability of high-quality data have also been responsible for stimulating the large amount of empirical work on exchange rates in this period. Nonetheless, while our understanding of exchange rates has significantly improved, a number of challenges and open questions remain in the exchange rate debate, enhanced by events including the launch of the Euro and the large number of recent currency crises. This volume provides a selective coverage of the literature on exchange rates, focusing on developments from within the last fifteen years. Clear explanations of theories are offered, alongside an appraisal of the literature and suggestions for further research and analysis.
Author: Imad A. Moosa
Publisher: World Scientific Publishing Company
ISBN:
Category : Business & Economics
Languages : en
Pages : 522
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Book Description
This book provides a comprehensive survey of of the theory of and empirical evidence on the determination and effects of exchange rates. It utilises both diagrammatic and mathematical representation of the underlying models, resulting in a comprehensive reference for those engaged in this field of study.
Author: Ulrich Machold
Publisher: GRIN Verlag
ISBN: 3638886247
Category : Business & Economics
Languages : en
Pages : 65
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Book Description
Master's Thesis from the year 2002 in the subject Economics - Monetary theory and policy, grade: 1.0 (A), Technical University of Berlin (-), 54 entries in the bibliography, language: English, abstract: A rough 50 years after its foundation, the European Union (EU) is preparing for the probably most ambitious challenge of its existence, the binding-back into the West of the once centrally-planned economies of Central and Eastern Europe (CEEC). Together with political and general economic efforts, European monetary integration also gains speed with as many as twelve CEEC queuing up for entry into the EU (not including Turkey, which has not yet officially begun entry negotiations), the first of them most likely joining the Union already two years after the physical introduction of the single currency, i.e. in 2004. Many of these countries are eager to also join Monetary Union (EMU) and show their ability to be ′good Europeans′ by adopting the Euro as soon as possible. Various statements by both CEEC-government officials and monetary authorities exemplify this very vividly. This implies that the enlargement of EMU is already a relevant issue. By the time it becomes acute, positions and perspectives of both applicants and current members should be clear, if unnecessary delays and political irritations are to be avoided. The body of literature on the subject is thus as large as the questions of when, how and on what terms CEEC-accession will take place are pressing, and becoming more so as time progresses. This study attempts to coherently examine the core issues related to EMU-enlargement, equally synthesising the various segmented approaches of the academic debate, and deduce normative conclusions as to what strategic outlook should seem appropriate to both CEEC and the current EMU-12: In what timeframe should accession most sensibly take place? How appropriate are the mechanics leading up to EMU, most prominently the Exchange Rate Mechanism (ERM-II) and the Maastr
Author: John F. O. Bilson
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 238
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Book Description
