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Essays On Exchange Rate Volatility
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Book Synopsis Managing Foreign Exchange Risk by : Richard J. Herring
Download or read book Managing Foreign Exchange Risk written by Richard J. Herring and published by Cambridge University Press. This book was released on 1986-04-30 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of essays about foreign exchange risk and how to cope with it.
Book Synopsis Essays on Exchange Rate Volatility and on Regional Integration by : Shang-Jin Wei
Download or read book Essays on Exchange Rate Volatility and on Regional Integration written by Shang-Jin Wei and published by . This book was released on 1992 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Monetary Coordination, Exchange Rate Volatility and Interfirm Networks by : Qing Liu
Download or read book Essays on Monetary Coordination, Exchange Rate Volatility and Interfirm Networks written by Qing Liu and published by . This book was released on 2008 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three independent essays in Macroeconomics. The first essay analyzes monetary coordination between currency areas. It is shown that search frictions can generate the deviations from the law of one price and that each country is tempted to exploit these deviations by inflation. Monetary coordination eliminates the inefficiency caused by inflation. The welfare gains from coordination increase when the two economies become more integrated. In contrast to traditional models, the need for coordination exists even after each country is allowed to directly tax foreign holdings of its currency.The second essay studies the behavior of exchange rates in an environment with search frictions. In contrast to traditional models, even without any nominal rigidity, the model can generate enough volatility of exchange rates found in the data. The changes in the behavior of exchange rates under different regimes are also examined in this essay. The model shows a sharp increase in the volatility of exchange rates when moving from a pegged to a floating exchange regime, while there is no such systematic change in fluctuations of output or consumption. Moreover, the co-movements of output and consumption across countries are higher under a fixed rate regime than under a flexible rate regime. These results are consistent with empirical findings.The final essay focuses on the competition between groups of allied firms. In the essay we propose a model of group fitness and develop an approach to evaluate the fitness of groups and the utility of their member firms. A group has high fitness if member firms have four features: (i) high capacity, (ii) being embedded in dense relationships, (iii) holding complementary resources and (iv) having limited competition and conflict. We illustrate the effectiveness of our model and methodology by applying it to the airline groups between 1997 and 2002. By examining what really happened to the airline groups afterwards, we found that the predictions based on the comparison between the fitness scores of actual groups formed and those of the corresponding population constructed are reasonably accurate, and that the implications based on the ranking of individual firm utility within each group are generally supported.
Book Synopsis Essays on Expectations and Exchange Rate Volatility by : Kenneth Saul Rogoff
Download or read book Essays on Expectations and Exchange Rate Volatility written by Kenneth Saul Rogoff and published by . This book was released on 1979 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Real Exchange Rates and Exchange Rate Arrangements by : Natalia Golotvina
Download or read book Essays on Real Exchange Rates and Exchange Rate Arrangements written by Natalia Golotvina and published by . This book was released on 2004 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Exchange Rate Volatility by : Nikolaos Antonakakis
Download or read book Essays on Exchange Rate Volatility written by Nikolaos Antonakakis and published by . This book was released on 2010 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis explores a number of aspects of time series modelling of exchange rate volatility. After having reviewed the main modelling approaches used in the existing literature, the first key chapter investigates the best models for forecasting the volatility of daily exchange rate returns for a number of countries, including new results for a selection of developing countries. The superior performance of the FIGARCH model, noted in the recent literature, is confirmed in the case of industrialised countries, but the MARCH model results in substantial gains in insample estimation and out-of-sample forecasting performance when dealing with developing countries. The next essay investigates exchange rate volatility co-movements and spillovers before and after the launch of the Euro. This study has the advantage of a longer sample period than the most comparable papers. Key results are that the dominance of the Deutschemark in volatility transmission was succeeded by the dominance of the Euro following its launch, in that both exert unidirectional and persistent spillovers on the sterling, the Swiss franc and the Japanese yen. Further, there is evidence of greater stability in financial markets after the launch of the Euro in that conditional variances, covariances and correlations in exchange rate returns declined significantly. Finally the thesis turns to assessing the impact of official central bank interventions (CB1s) on exchange rate returns, their volatility and bilateral correlations. By exploiting the recent publication of intervention data by the Bank of England, this study is able to investigate interventions by a total number of four central banks, while the previous studies have been limited to three (the Federal Reserve, Bundesbank and Bank of Japan). The results of the existing literature are reappraised and refined. In particular, unilateral CBI is found to be more successful than coordinated CBI. The likely implications of these findings are then discussed.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498330282 Total Pages :132 pages Book Rating :4.4/5 (983 download)
Book Synopsis Exchange Rate Volatility and Trade Flows--Some New Evidence by : International Monetary Fund
Download or read book Exchange Rate Volatility and Trade Flows--Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis Monetary Policy, Capital Flows and Exchange Rates by : David G. Dickinson
Download or read book Monetary Policy, Capital Flows and Exchange Rates written by David G. Dickinson and published by Psychology Press. This book was released on 2002 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Max Fry was known internationally for his research on international and domestic financial issues. This book draws together contributions from a range of academic and policy-making friends and colleagues.
Book Synopsis Essays on Exchange Rate-based Stabilization and Inflation Convergence by : Piero S. Ghezzi
Download or read book Essays on Exchange Rate-based Stabilization and Inflation Convergence written by Piero S. Ghezzi and published by . This book was released on 1997 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rates, Trade, and the U.S. Economy by : John Tirman
Download or read book Exchange Rates, Trade, and the U.S. Economy written by John Tirman and published by . This book was released on 1985 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays review recent advances in exchange rate analysis and new empirical analysis of the behavior of exchange rates and their effects on international trade and the U.S. economy. The first section deals with the determination of exchange rates and their alleged volatility and disequilibrium levels. The second section concerns the effects of flexible exchange rates on international trade, and the third treats the macroeconomic linkages between economies and international influences on the U.S. economy. ISBN 0-88410-948-8 : $39.95.
Book Synopsis Managing International Risk by : Richard J. Herring
Download or read book Managing International Risk written by Richard J. Herring and published by Cambridge University Press. This book was released on 1983 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues addressed include the prospects for foreign exchange crises, trade wars, international banking crises, and oil shortages.
Book Synopsis Essays on the Asymmetric News Effects on Exchange Rate Volatility by : Helina Laakkonen
Download or read book Essays on the Asymmetric News Effects on Exchange Rate Volatility written by Helina Laakkonen and published by . This book was released on 2009 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Effects of Exchange Rate Flexibility by : Jay Curtis Shambaugh
Download or read book Essays on the Effects of Exchange Rate Flexibility written by Jay Curtis Shambaugh and published by . This book was released on 2002 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in International Trade, Exchange Rate Volatility and Asset Market Structure by : Anne Marjaana Mikkola
Download or read book Essays in International Trade, Exchange Rate Volatility and Asset Market Structure written by Anne Marjaana Mikkola and published by . This book was released on 1995 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the forward discount bias and exchange rate volatility by : Min-yong Shin
Download or read book Essays on the forward discount bias and exchange rate volatility written by Min-yong Shin and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Incomplete Exchange Rate Pass-through, Monetary Policy and Province Border Effects by : Wei Chen
Download or read book Three Essays on Incomplete Exchange Rate Pass-through, Monetary Policy and Province Border Effects written by Wei Chen and published by . This book was released on 2004 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Volatility and Productivity Growth by : Philippe Aghion
Download or read book Exchange Rate Volatility and Productivity Growth written by Philippe Aghion and published by . This book was released on 2006 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper offers empirical evidence that real exchange rate volatility can have a significant impact on long-term rate of productivity growth, but the effect depends critically on a country's level of financial development. For countries with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for financially advanced countries, there is no significant effect. Our empirical analysis is based on an 83country data set spanning the years 1960-2000; our results appear robust to time window, alternative measures of financial development and exchange rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty exacerbates the negative investment effects of domestic credit market constraints. Our approach delivers results that are in striking contrast to the vast existing empirical exchange rate literature, which largely finds the effects of exchange rate volatility on real activity to be relatively small and insignificant.
