Author : Jagdeep S. Bhandari
Publisher : MIT Press
Page : 342 pages
File Size : 50,87 MB
Release : 1987
Category : Business & Economics
ISBN : 9780262521222
These twelve essays take up economic management under flexible exchange rates in the presence of uncertainty. Nearly all of the contributions adopt a rational expectations framework, focusing on the stochastic aspects of the assumption and exploring the variability of, for example, output and prices in relation to the variability of various external disturbances.Jagdeep Bhandari is Associate Professor of International Economics at West Virginia University.
Author : Victor E. Argy
Publisher :
Page : 374 pages
File Size : 12,18 MB
Release : 1982
Category : Business & Economics
ISBN :
Author : Romain Lafarguette
Publisher : International Monetary Fund
Page : 33 pages
File Size : 45,36 MB
Release : 2021-02-12
Category : Business & Economics
ISBN : 1513569406
This 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 : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Publisher :
Page : 0 pages
File Size : 33,31 MB
Release : 2013
Category : Banks and banking, Central
ISBN : 9789291319626
Author : Behl, Abhishek
Publisher : IGI Global
Page : 400 pages
File Size : 43,30 MB
Release : 2018-12-04
Category : Business & Economics
ISBN : 1522572090
Risks and uncertainties?market, financial, operational, social, humanitarian, environmental, and institutional?are the inherent realities of the modern world. Stock market crashes, demonetization of currency, and climate change constitute just a few examples that can adversely impact financial institutions across the globe. To mitigate these risks and avoid a financial crisis, a better understanding of how the economy responds to uncertainties is needed. Maintaining Financial Stability in Times of Risk and Uncertainty is an essential reference source that discusses how risks and uncertainties affect the financial stability and security of individuals and institutions, as well as probable solutions to mitigate risk and achieve financial resilience under uncertainty. Featuring research on topics such as financial fraud, insurance ombudsman, and Knightian uncertainty, this book is developed for researchers, academicians, policymakers, students, and scholars.
Author : Mr.Guillermo Calvo
Publisher : International Monetary Fund
Page : 34 pages
File Size : 14,92 MB
Release : 1991-08-01
Category : Business & Economics
ISBN : 1451849915
This paper analyzes stabilization policy under predetermined exchange rates in a cash-in-advance, staggered-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the inflation rate, with no effect on output or consumption. In contrast, a non-credible stabilization results in an initial expansion of output, followed by a later recession. The inflation rate of home goods remains above the rate of devaluation throughout the program, thus resulting in a sustained real exchange rate appreciation.
Author : Ronald MacDonald
Publisher : Routledge
Page : 334 pages
File Size : 17,88 MB
Release : 2005
Category : Foreign exchange
ISBN : 1134838220
''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 : Ben S. Bernanke
Publisher : MIT Press
Page : 364 pages
File Size : 46,67 MB
Release : 1996
Category : Business & Economics
ISBN : 9780262522052
Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.
Author : Mr.Sonali Das
Publisher : International Monetary Fund
Page : 31 pages
File Size : 28,53 MB
Release : 2019-03-07
Category : Business & Economics
ISBN : 1498302025
China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 132 pages
File Size : 41,78 MB
Release : 2004-05-19
Category : Business & Economics
ISBN : 1498330282
NULL
