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The Effectiveness Of The Fx Market Interventions Of The Bundesbank During The Louvre Period
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Book Synopsis The Effectiveness of the FX Market Interventions of the Bundesbank During the Louvre Period by : Christian Pierdzioch
Download or read book The Effectiveness of the FX Market Interventions of the Bundesbank During the Louvre Period written by Christian Pierdzioch and published by . This book was released on 2000 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Christian Pierdzioch Publisher :Springer Science & Business Media ISBN 13 :9783540427452 Total Pages :232 pages Book Rating :4.4/5 (274 download)
Book Synopsis Noise Trading, Central Bank Interventions, and the Informational Content of Foreign Currency Options by : Christian Pierdzioch
Download or read book Noise Trading, Central Bank Interventions, and the Informational Content of Foreign Currency Options written by Christian Pierdzioch and published by Springer Science & Business Media. This book was released on 2001-12-06 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: A flexible instrument to insure against adverse exchange rate movements are options on foreign currency. Often a relatively simple foreign currency option valuation model is used to address issues related to the pricing and hedging of such options. The results of many empirical studies document that real-world foreign currency option premia deviate from those predicted by the baseline model. In the first part of the book, it is shown that a noise trader model can help to explain the observed mispricing of the baseline foreign currency option pricing model. In the second part of the book, it is studied how policymakers can exploit the pricing errors of the baseline model. In particular, it is examined how option pricing theory can be applied to assess the effectiveness of central bank interventions in the foreign exchange market. To this end, a model is constructed to analyze the effectiveness of the interventions conducted by the Deutsche Bundesbank during the Louvre period.
Download or read book Kiel Reports written by and published by . This book was released on 2000 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effectiveness of Foreign-exchange Intervention by : Maurice Obstfeld
Download or read book The Effectiveness of Foreign-exchange Intervention written by Maurice Obstfeld and published by . This book was released on 1988 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the September 1985 Plaza Hotel announcement by the Group of Five industrial countries, a substantial realignment of exchange rates has been achieved. At the same time, foreign exchange market intervention, much of it concerted and much of it sterilized, has been undertaken on a scale not seen since the early 1970s This paper takes a fresh look at the effectiveness of sterilized intervention in the light of recent experience. The paper concludes that sterilized intervention, in itself, has played an unimportant role in promoting exchange-rate realignment. Instead, clear shifts in patterns of monetary and fiscal policy appear to have been the main medium-term policy factors determining currency values. Over certain shorter time periods, intervention has influenced exchange markets through a signalling channel; but this signalling effect has been operative only as a result of authorities' frequent readiness to adjust monetary policies promptly to counteract unwelcome exchange-market pressures. The paper makes some progress in formalizing reasons why intervention might enhance the credibility of messages that governments could convey as well through simple verbal announcements.
Book Synopsis Foreign Exchange Intervention by : Geert J. Almekinders
Download or read book Foreign Exchange Intervention written by Geert J. Almekinders and published by Edward Elgar Publishing. This book was released on 1995 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains why central banks continue to carry out foreign exchange interventions despite their poor track record. It uses confidential daily intervention data from the Bundesbank and the Federal Reserve.
Book Synopsis The New Transatlantic Economy by : Matthew Canzoneri
Download or read book The New Transatlantic Economy written by Matthew Canzoneri and published by Cambridge University Press. This book was released on 1996-11-07 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transatlantic economic relations are dominated by three factors which are of major historical significance. The first and most important is the multilateral process for trade liberalisation, deregulation of financial markets, and macroeconomic policy co-ordination. The second factor is a transatlantic environment of national and regional idiosyncrasies exemplified by protectionist initiatives, a significant weakening of the EMS, and changes in central bank statutes. The second factor is in part a political backlash against the first. The third factor affecting transatlantic economic relations is of course the emergence of regional economic relationships within the transatlantic economy, and a treaty calling for a common currency in Europe. In this 1996 volume, specialists in international trade, international finance, and political economy analyse the causes of these three factors, and their implications.
Book Synopsis Exchange-Rate Regimes and Currency Unions by : Ernst Baltensperger
Download or read book Exchange-Rate Regimes and Currency Unions written by Ernst Baltensperger and published by Springer. This book was released on 2016-07-27 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributions are concerned with the theoretical and empirical analyses of fixed and flexible exchange rate systems, the role of central bank and other government policies in such systems, the prospects, workings and effects of a European Monetary System, and capital mobility and economic integration.
Book Synopsis Risk Management in Volatile Financial Markets by : Franco Bruni
Download or read book Risk Management in Volatile Financial Markets written by Franco Bruni and published by Springer Science & Business Media. This book was released on 1996-04-30 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: intense competition on banks and other financial institutions, as a period of oligopoly ends: more rather than less innovation is needed to help share undi versifiable risks, with more attention to correlations between different risks. Charles Goodhart of the London School of Economics (LSE), while ques tioning the idea that volatility has increased, concludes that structural changes have made regulation more problematic and calls for improved information availability on derivatives transactions. In a thirteen country case study of the bond market turbulence of 1994, Bo rio and McCauley of the BIS pin the primary causes of the market decline on the market's own dynamics rather than on variations in market participants' apprehensions about economic fundamentals. Colm Kearney of the Univer sity of Western Sydney, after a six country study of volatility in economic and financial variables, concludes that more international collaboration in man aging financial volatility (other than in foreign exchange markets) is needed in Europe. Finally, Stokman and Vlaar of the Dutch central bank investigate the empirical evidence for the interaction between volatility and international transactions in real and financial assets for the Netherlands, concluding that such influence depends on the chosen volatility measure. The authors sug gest that there are no strong arguments for international restrictions to reduce volatility. INSTITUTIONAL ISSUES AND PRACTICES The six papers in Part C focus on what market participants are doing to manage risk.
Book Synopsis What Can the ECB Learn from Bundesbank Intervention? by : Jörg Döpke
Download or read book What Can the ECB Learn from Bundesbank Intervention? written by Jörg Döpke and published by . This book was released on 1999 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Policy Coordination and Exchange Rate Fluctuations by : William H. Branson
Download or read book International Policy Coordination and Exchange Rate Fluctuations written by William H. Branson and published by University of Chicago Press. This book was released on 2007-12-01 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of an improved international monetary system, others fear that it risks delaying or weakening the implementation of macroeconomic and structural policies. In these papers and comments, prominent international economists consider past and present interpretations of the meaning of international policy coordination; conditions necessary for coordination to be beneficial both to the direct participants and the global economy; influential factors for the quantitative impact of coordination; obstacles to coordination; the most—and least—effective methods of coordination; and future directions of the coordination process, including processes associated with greater fixity of exchange rates. These studies will be readily accessible to policymakers, while offering sophisticated analyses to interested scholars of the global economy.
Book Synopsis Russia's Debt Crisis and the Unofficial Economy by : Claudia M. Buch
Download or read book Russia's Debt Crisis and the Unofficial Economy written by Claudia M. Buch and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia's foreign debt problems worsened substantially after the financial crisis of 1998. The paper focuses on the key role of the government in servicing foreign debt and promoting institution building by showing how foreign debt influences the choice between official and unofficial taxation. The enterprise sector is assumed to reallocate its resources between domestic investment and capital flight. It is discussed under which conditions debt rescheduling may create incentives for the government to promote institution building. The results of this paper shed light on the conditions under which the recent agreement with the London Club to write off substantial amounts of former Soviet debt can be successful.
Download or read book Journal of Banking & Finance written by and published by . This book was released on 1996 with total page 1120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Conflicts and Conflict Resolution in International Antitrust by : Henning Klodt
Download or read book Conflicts and Conflict Resolution in International Antitrust written by Henning Klodt and published by . This book was released on 2000 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Positive Economics of Corporatism and Corporate Governance by : Rainer Fehn
Download or read book The Positive Economics of Corporatism and Corporate Governance written by Rainer Fehn and published by . This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis What Determines Maturity? by : Claudia M. Buch
Download or read book What Determines Maturity? written by Claudia M. Buch and published by . This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomic Forecasts and the Nature of Economic Shocks in Germany by : Jörg Döpke
Download or read book Macroeconomic Forecasts and the Nature of Economic Shocks in Germany written by Jörg Döpke and published by . This book was released on 2000 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Benchmarking the Future by : Gernot Klepper
Download or read book Benchmarking the Future written by Gernot Klepper and published by . This book was released on 2000 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
