Read and Download eBook Full
Author: Ronald MacDonald
Publisher: Routledge
Published: 2005
Total Pages: 334
ISBN-13: 1134838220
DOWNLOAD EBOOK''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Author: Keith Pilbeam
Publisher: Springer
Published: 1991-06-18
Total Pages: 233
ISBN-13: 1349117447
DOWNLOAD EBOOKAn examination of the economic justification for foreign exchange market intervention, the potential for such intervention to stabilize an economy and the distinction between sterilized and non-sterilized intervention.
Author: Imad A Moosa
Publisher: World Scientific
Published: 2009-07-15
Total Pages: 512
ISBN-13: 9814468509
DOWNLOAD EBOOKExchange rate economics is an important field of investigation for academics, professionals and policy-makers. This book provides a comprehensive survey of the theory of and empirical evidence on the determination and effects of exchange rates. The exposition utilizes both diagrammatic and mathematical representations of the underlying models. The book is a comprehensive reference for those engaged in this field of research.
Author: Victor E. Argy
Publisher:
Published: 1982
Total Pages: 374
ISBN-13:
DOWNLOAD EBOOKAuthor: Camila Casas
Publisher: International Monetary Fund
Published: 2017-11-22
Total Pages: 62
ISBN-13: 1484330609
DOWNLOAD EBOOKMost trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author: Keith Pilbeam
Publisher: Palgrave Macmillan
Published: 2014-01-14
Total Pages: 220
ISBN-13: 9781349117468
DOWNLOAD EBOOKAn examination of the economic justification for foreign exchange market intervention, the potential for such intervention to stabilize an economy and the distinction between sterilized and non-sterilized intervention.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2004-05-19
Total Pages: 132
ISBN-13: 1498330282
DOWNLOAD EBOOKNULL
Author: John F. Bilson
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 542
ISBN-13: 0226050998
DOWNLOAD EBOOKThis volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
Author: Romain Lafarguette
Publisher: International Monetary Fund
Published: 2021-02-12
Total Pages: 33
ISBN-13: 1513569406
DOWNLOAD EBOOKThis paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
Author: Keith Pilbeam
Publisher:
Published: 1998
Total Pages: 488
ISBN-13: 9780333730973
DOWNLOAD EBOOKThis is a fully-revised and updated textbook on international finance, covering the major traditional and modern theories, along with empirical and applied topics. There are also new chapters covering derivative instruments such as swaps, options and futures, and updated coverage of the Euromoney and Eurobond markets.
