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EMU, Adjustment, and Exchange Rate Variability
Ricci, Luca Antonio - 1998
This paper uses a three-country, three-good, factor-specific model of trade with wage rigidities to investigate how European Monetary Union (EMU) is likely to affect exchange rate variability. Focusing on international macroeconomic adjustment under both exogenous and optimizing monetary...
Persistent link: https://www.econbiz.de/10014400772
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The Euro and the Production Structure and Export Performance of Middle East and North African Countries
Ruhashyankiko, Jean-François - 1999
This paper explores the link between exchange rate volatility of European currencies and economic performance of … several countries in the Middle East and North Africa (MENA). The elimination of intra euro-zone exchange rate volatility …
Persistent link: https://www.econbiz.de/10014401053
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Exchange Rate Fluctuations and Trade Flows : Evidence From the European Union
Dell'Ariccia, Giovanni - 1998
This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model … attention is reserved for problems of simultaneous causality. The negative correlation between trade and bilateral volatility …
Persistent link: https://www.econbiz.de/10014403368
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Foreign Exchange Market Volatility in Eu Accession Countries in the Run-Up to Euro Adoption : Weathering Uncharted Waters
Székely, István P. - 2004
The paper analyzes foreign exchange market volatility in four Central European EU accession countries in 2001-2003. By … using a Markov regime-switching model, it identifies two regimes representing high- and low-volatility periods. The … the Czech koruna-Slovak koruna) in the high-volatility period. The paper concludes by discussing the policy implications …
Persistent link: https://www.econbiz.de/10014404125
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Commodity Price Volatility, Cyclical Fluctuations, and Convergence : What is Ahead for Inflation in Emerging Europe?
Zoli, Edda - 2009
This paper assesses the role of international commodity prices, cyclical fluctuations, and convergence in driving inflation in 18 European emerging economies. Country specific VARs and panel estimates indicate that international commodity price shocks have a significant impact on domestic...
Persistent link: https://www.econbiz.de/10014404293
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Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage
International Monetary Fund - 2005
This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …
Persistent link: https://www.econbiz.de/10014399797
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Does Political Instability Lead to Higher Inflation? : A Panel Data Analysis
Aisen, Ari - 2005
Economists generally accept the proposition that high inflation rates generate inefficiencies that reduce society''s welfare and economic growth. However, determining the causes of the worldwide diversity of inflationary experiences is an important challenge not yet satisfactorily confronted by...
Persistent link: https://www.econbiz.de/10014400964
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Bank lobbying : regulatory capture and beyond
Igan, Deniz; Lambert, Thomas - 2019
In this paper, we discuss whether and how bank lobbying can lead to regulatory capture and have real consequences through an overview of the motivations behind bank lobbying and of recent empirical evidence on the subject. Overall, the findings are consistent with regulatory capture, which...
Persistent link: https://www.econbiz.de/10012103556
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US vs. euro area : who drives cross border bank lending to EMs?
Cerutti, Eugenio M.; Osorio Buitron, Carolina - 2019
This paper analyzes the drivers of cross-border bank lending to 49 Emerging Markets (EMs) during the period 1990Q1-2014Q4, by assessing the impact of monetary, financial and real sector shocks in both the US and the euro area. The literature has traditionally highlighted the influence of US...
Persistent link: https://www.econbiz.de/10012103728
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Explaining the shadow economy in Europe : size, causes and policy options
Kelmanson, Ben; Kirabaeva, Koralai; Medina, Leandro; … - 2019
This paper examines the drivers, and reestimates the size of shadow economies in Europe, with a focus on the emerging economies, and recommends policies to increase formality. The size of shadow economies declined across Europe in recent years but remains significant, especially in Eastern...
Persistent link: https://www.econbiz.de/10012155041