This paper studies the role of the yen/dollar exchange rate in the Bank of Japan's monetary policy reaction function. In contrast to prior estimations of reaction functions based on the Taylor-rule, we allow for regime shifts by estimating rolling coefficients from January 1974 to March 1999....

We quantify the causal link between exchange rate movements and sovereign risk of 16 major emerging market economies (EMEs) by means of structural vector autoregressive models (SVARs) using data from 10/2004 through 12/2016. We apply a novel data based identification approach of the structural...

We test for the impact of exchange rate volatility on growth in emerging market economies based on the theory of optimum currency areas. Our findings provide evidence for a positive impact of exchange rate stability on growth. -- OCA ; growth

We test for the impact of exchange rate volatility on growth in emerging market economies based on the theory of optimum currency areas. Our findings provide evidence for a positive impact of exchange rate stability on growth