International Parity Conditions PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download International Parity Conditions PDF full book. Access full book title International Parity Conditions by Razzaque H. Bhatti. Download full books in PDF and EPUB format.
Author: Razzaque H. Bhatti
Publisher: Springer
ISBN: 1349255238
Category : Business & Economics
Languages : en
Pages : 389
Get Book Here
Book Description
This book presents an extensive survey of the theory and empirics of international parity conditions which are critical to our understanding of the linkages between world markets and the movement of interest and exchange rates across countries. The book falls into three parts dealing with the theory, methods of econometric testing and existing empirical evidence. Although it is intended to provide a consensus view on the subject, the authors also make some controversial propositions, particularly on the purchasing power parity conditions.
Author: Razzaque H. Bhatti
Publisher: Springer
ISBN: 1349255238
Category : Business & Economics
Languages : en
Pages : 389
Get Book Here
Book Description
This book presents an extensive survey of the theory and empirics of international parity conditions which are critical to our understanding of the linkages between world markets and the movement of interest and exchange rates across countries. The book falls into three parts dealing with the theory, methods of econometric testing and existing empirical evidence. Although it is intended to provide a consensus view on the subject, the authors also make some controversial propositions, particularly on the purchasing power parity conditions.
Author: Mr.Eugenio M Cerutti
Publisher: International Monetary Fund
ISBN: 1484395212
Category : Business & Economics
Languages : en
Pages : 36
Get Book Here
Book Description
For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial drivers of the variation in CIP deviations have also become significant. The variation in CIP deviations seems to be associated with multiple factors, not only regulatory changes. Most of these do not display a uniform importance across currency pairs and time, and some are associated with possible temporary considerations (such as asynchronous monetary policy cycles).
Author: Peter Isard
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 16
Get Book Here
Book Description
This paper provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses different interpretations of the evidence and the implications for macroeconomic analysis. The uncovered interest parity assumption has been an important building block in multiperiod models of open economies, and although its validity is strongly challenged by the empirical evidence, at least at short time horizons, its retention in macroeconomic models is supported on pragmatic grounds by the lack of much empirical support for existing models of the exchange risk premium.
Author: Mr.Peter Isard
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 14
Get Book Here
Book Description
This note provides an overview of the uncovered interest parity assumption. It traces the history of the interest parity concept, summarizes evidence on the empirical validity of uncovered interest parity, and discusses the implications for macroeconomic analysis. The uncovered interest parity assumption has been an important building block in multiperiod and continuous time models of open economies, and although its validity is strongly challenged by the empirical evidence, its retention in macroeconomic models is supported on pragmatic grounds, at least for the time being, by the lack of much empirical support for existing models of the exchange risk premium.
Author: Jonathan Eaton
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
Get Book Here
Book Description
Author: Mr.Evan Tanner
Publisher: International Monetary Fund
ISBN: 1451941641
Category : Business & Economics
Languages : en
Pages : 25
Get Book Here
Book Description
Ex-post deviations from uncovered interest parity (UIP) – realized differences between dollar returns on identical assets of different currencies – equal the real interest differential plus real exchange rate growth. Among industrialized countries, UIP deviations are largely explained by unanticipated real exchange rate growth, but among developing countries, real interest differentials are “where the action is.” This observation is due to the greater variability of inflation in developing countries, but may also stem from higher and more variable risks and capital controls in these countries. Also, among developing countries with moderate inflation, offsetting comovements of real interest differentials and real exchange growth support the sticky-price hypothesis.
Author: Alain P. Chaboud
Publisher:
ISBN:
Category : Interest rates
Languages : en
Pages : 32
Get Book Here
Book Description
Author: Norman C. Miller
Publisher: Edward Elgar Publishing
ISBN: 1781006814
Category : Business & Economics
Languages : en
Pages : 217
Get Book Here
Book Description
The Uncovered Interest Parity (UIP) puzzle has remained a moot point since it first circulated economic discourse in 1984 and, despite a number of attempts at a solution, the UIP puzzle and other anomalies in Exchange Rate Economics continue to perplex
Author: Lucio Sarno
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 48
Get Book Here
Book Description
We provide empirical evidence that deviations from uncovered interest rate parity (UIP) display significant nonlinearities, consistent with theories based on transaction costs or limits to speculation. This evidence suggests that the forward bias documented in the literature may be less indicative of major market inefficiencies than previously thought. Monte Carlo experiments allow us to reconcile these results with the large empirical literature on the forward bias puzzle since we show that, if the true process of UIP deviations were of the nonlinear form we consider, estimation of conventional spot-forward regressions would generate the anomalies documented in previous research.
Author: Jürgen Wolters
Publisher:
ISBN:
Category :
Languages : de
Pages : 82
Get Book Here
Book Description
