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Author : Alexis Stenfors
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (186 download)
Download or read book Explaining Devaluation Expectations in the EMS written by Alexis Stenfors and published by . This book was released on 1994 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lars Svensson
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book Assessing target zone credibility written by Lars Svensson and published by . This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Juan Ayuso Huertas
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 ( download)
Download or read book Devaluations and Depreciation Expectations in the E.M.S. written by Juan Ayuso Huertas and published by . This book was released on 1996 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sinimaaria Ranki
Publisher :
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.F/5 ( download)
Download or read book Realignment Expectations in the ERM written by Sinimaaria Ranki and published by . This book was released on 1996 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to analyze realignment expectations in the exchange rate mechanism of the European Monetary System, in particular with reference to the five year period (1987-1992) during which no realignments were done.
Author : Hans Lindberg
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (318 download)
Download or read book Devaluation Expectations written by Hans Lindberg and published by . This book was released on 1991 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Devaluation expectations for the Swedish krona are estimated for the period 1982-1991 with several methods. First the "simplest test" is applied under either only the minimal assumption of "no positive minimum profit" or the additional assumption of uncovered interest parity. Then a more precise method suggested by Bertola and Svensson is used, in which expected rates of depreciation within the exchange rate band, estimated in several ways, are subtracted from interest rate differentials. In addition the probability density of the time of devaluations is estimated. Finally, estimated devaluation expectations are to some extent explained by a few macrovariables and parliament elections
Author : Paul R. Masson
Publisher : World Scientific
ISBN 13 : 981435015X
Total Pages : 355 pages
Book Rating : 4.8/5 (143 download)
Download or read book Currencies, Crises, Fiscal Policy, and Coordination written by Paul R. Masson and published by World Scientific. This book was released on 2011 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides an integrated compilation of selected major articles published by the author in several fields of international finance. These include contributions to the understanding of currency crises and financial contagion, the evolution of exchange rate regimes, the interaction between national fiscal policies and regional monetary unions, and the effect of uncertainty on the gains from international economic policy coordination. The author spent most of his career doing research at established institutions (the Bank of Canada, OECD, and IMF), and these articles emerged from the need to understand the major economic policy issues of the day. In the book's introduction, the author discusses the motivation for these contributions and the unifying themes that emerged, while a concluding chapter provides his personal reflections and suggestions about promising avenues for further research.
Author : K.B. Gaynor
Publisher : Springer
ISBN 13 : 1349252662
Total Pages : 288 pages
Book Rating : 4.3/5 (492 download)
Download or read book Economic Convergence in a Multispeed Europe written by K.B. Gaynor and published by Springer. This book was released on 2016-07-27 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: What policies should be pursued by, first, the peripheral countries, like Greece and Eastern Europe, and, second, by the median countries, like Spain, to qualify for monetary union? How should the core countries coordinate their fiscal policies once in a monetary union? This book considers the widening and deepening process of European integration and is based on work carried out for DG II of the European Commission in 1992-05. The conclusions reached for the median countries were endorsed by the finance ministers in Verona in 1996.
Author : M. Chang
Publisher : Springer
ISBN 13 : 1403980179
Total Pages : 211 pages
Book Rating : 4.4/5 (39 download)
Download or read book Realigning Interests written by M. Chang and published by Springer. This book was released on 2016-02-10 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do currency crises happen? What conditions set the stage for such a crisis? How severe will it be? When will it happen? This book answers these questions, illustrating the points by examining the exchange rate realignments of the European Monetary System. It also shows how balancing the tension between domestic and international politics plays a vital part in a government's willingness to uphold its exchange rate commitments. Michele Chang pays particular attention to the role of domestic elections, since these may prevent governments from credibly committing to a fixed exchange rate and from responding quickly and coherently to market instability, thus encouraging speculation.
Author : James D. Hamilton
Publisher : Springer Science & Business Media
ISBN 13 : 3642511821
Total Pages : 267 pages
Book Rating : 4.6/5 (425 download)
Download or read book Advances in Markov-Switching Models written by James D. Hamilton and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of state-of-the-art papers on the properties of business cycles and financial analysis. The individual contributions cover new advances in Markov-switching models with applications to business cycle research and finance. The introduction surveys the existing methods and new results of the last decade. Individual chapters study features of the U. S. and European business cycles with particular focus on the role of monetary policy, oil shocks and co movements among key variables. The short-run versus long-run consequences of an economic recession are also discussed. Another area that is featured is an extensive analysis of currency crises and the possibility of bubbles or fads in stock prices. A concluding chapter offers useful new results on testing for this kind of regime-switching behaviour. Overall, the book provides a state-of-the-art over view of new directions in methods and results for estimation and inference based on the use of Markov-switching time-series analysis. A special feature of the book is that it includes an illustration of a wide range of applications based on a common methodology. It is expected that the theme of the book will be of particular interest to the macroeconomics readers as well as econometrics professionals, scholars and graduate students. We wish to express our gratitude to the authors for their strong contributions and the reviewers for their assistance and careful attention to detail in their reports.
Author : Anja Zenker
Publisher : Springer Science & Business Media
ISBN 13 : 3658048298
Total Pages : 142 pages
Book Rating : 4.6/5 (58 download)
Download or read book Currency Speculation in Fixed Exchange Rate Regimes written by Anja Zenker and published by Springer Science & Business Media. This book was released on 2014-01-08 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Speculative currency crises seem to have become a common and inevitable phenomenon in the international monetary system. Against this background, various approaches have been developed by economists to cover the broad range of situations in which balance-of-payments crises occurred. Anja Zenker provides a comprehensive insight into the body of theoretical and empirical literature about currency speculation in fixed exchange rate regimes. The author discusses different generations of theoretical models and their empirical relevance in recent currency crises. Moreover, she considers diverse policy options which attempt to avoid speculative attacks on exchange rate pegs.
Author : O. Fabel
Publisher : Springer
ISBN 13 : 023028910X
Total Pages : 262 pages
Book Rating : 4.2/5 (32 download)
Download or read book European Economies in Transition written by O. Fabel and published by Springer. This book was released on 2000-06-13 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing upon the rich interplay between ongoing institutional and technological changes, the dynamics of national industrial systems and the modifications in policy instruments of the new economic framework of the common market and the single currency, European Economies in Transition addresses key issues for growth and convergence. A set of methodologies highlighting the structural aspects and discontinuities in such dynamics reveals new features of transition processes experienced by some of the most advanced Western economies.
Author :
Publisher :
ISBN 13 :
Total Pages : 544 pages
Book Rating : 4.F/5 ( download)
Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Craig Parsons
Publisher : Cornell University Press
ISBN 13 : 1501732080
Total Pages : 264 pages
Book Rating : 4.5/5 (17 download)
Download or read book A Certain Idea of Europe written by Craig Parsons and published by Cornell University Press. This book was released on 2018-07-05 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quasi-federal European Union stands out as the major exception in the thinly institutionalized world of international politics. Something has led Europeans—and only Europeans—beyond the nation-state to a fundamentally new political architecture. Craig Parsons argues in A Certain Idea of Europe that this "something" was a particular set of ideas generated in Western Europe after the Second World War. In Parsons's view, today's European Union reflects the ideological (and perhaps visionary) project of an elite minority. His book traces the progressive victory of this project in France, where the battle over European institutions erupted most divisively. Drawing on archival research and extensive interviews with French policymakers, the author carefully traces a fifty-year conflict between radically different European plans. Only through aggressive leadership did the advocates of a supranational "community" Europe succeed at building the EU and binding their opponents within it. Parsons puts the causal impact of ideas, and their binding effects through institutions, at the center of his book. In so doing he presents a strong logic of "social construction"—a sharp departure from other accounts of EU history that downplay the role of ideas and ideology.
Author : Larry Neal
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (318 download)
Download or read book Crises in the Global Economy from Tulips to Today written by Larry Neal and published by . This book was released on 2002 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the historical record of the financial crises that have often accompanied surges of globalization in the past. The issue of contagion, the spread of financial turbulence from the crisis center to its trading partners, is confronted with historical and statistical evidence on the causes and consequences of well-known crises. In general, contagion seems often confused with prior interdependence, and crises are less widespread and shorter in duration than anecdotal evidence would indicate. Special attention is given to the gold standard period of 1880-1913, which we find useful to divide into the initial period of deflation, 1880-1896, and the following period of mild inflation, 1897-1913. We find evidence of changes in the pattern of 'contagion' from core to periphery countries between the two periods, but in both periods apparent contagions can more readily be interpreted as responses to common shocks. Lessons for the present period can only be tentative, but the similarities in learning experiences are striking.
Author : Axel A. Weber
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.X/5 (1 download)
Download or read book Time-varying Devaluation Risk, Interest Rate Differentials and Exchange Rates in Target Zones written by Axel A. Weber and published by . This book was released on 1992 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 1451929099
Total Pages : 36 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Mexican Peso Crisis written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1996-01-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Author : Nicos M. Christodoulakis
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.X/5 (2 download)
Download or read book Efficiency and Expectations Revisited written by Nicos M. Christodoulakis and published by . This book was released on 1994 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
