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Year of publication
Subject
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Currency speculation 1,700 Währungsspekulation 1,695 Theorie 681 Theory 679 Devisenmarkt 551 Foreign exchange market 547 Währungskrise 428 Welt 427 World 427 Currency crisis 424 Wechselkurs 378 Exchange rate 370 Wechselkurspolitik 280 Exchange rate policy 279 Währungsrisiko 259 Exchange rate risk 255 Capital income 239 Kapitaleinkommen 239 Schätzung 220 Estimation 219 Risikoprämie 173 Risk premium 173 Speculation 160 Spekulation 159 Volatility 155 Volatilität 155 Portfolio selection 149 Portfolio-Management 149 Financial crisis 142 Finanzkrise 142 Interest rate parity 138 Zinsparität 138 Currency derivative 104 Währungsderivat 104 EU countries 96 EU-Staaten 96 Geldpolitik 87 Monetary policy 85 US dollar 84 US-Dollar 84
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Online availability
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Free 617 Undetermined 243 CC license 8
Type of publication
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Book / Working Paper 1,015 Article 715 Journal 1
Type of publication (narrower categories)
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Article in journal 609 Aufsatz in Zeitschrift 609 Graue Literatur 450 Non-commercial literature 450 Working Paper 441 Arbeitspapier 438 Aufsatz im Buch 93 Book section 93 Hochschulschrift 66 Thesis 53 Collection of articles written by one author 13 Sammlung 13 Systematic review 10 Übersichtsarbeit 10 Bibliografie enthalten 9 Bibliography included 9 Collection of articles of several authors 9 Sammelwerk 9 Guidebook 7 Ratgeber 7 Dissertation u.a. Prüfungsschriften 6 Konferenzschrift 6 Aufsatzsammlung 5 Amtsdruckschrift 4 Government document 4 Rezension 4 Conference proceedings 3 Glossar enthalten 3 Glossary included 3 Lehrbuch 3 Textbook 3 Bibliografie 2 Conference paper 2 Handbook 2 Handbuch 2 Konferenzbeitrag 2 Accompanied by computer file 1 Case study 1 Elektronischer Datenträger als Beilage 1 Fallstudie 1
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Language
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English 1,571 German 109 French 18 Spanish 8 Undetermined 8 Portuguese 6 Italian 2 Dutch 2 Russian 2 Czech 1 Danish 1 Croatian 1 Hungarian 1 Polish 1 Romanian 1
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Author
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Burnside, Craig 40 Eichenbaum, Martin S. 29 Rebelo, Sérgio 28 Corsetti, Giancarlo 26 Flood, Robert P. 21 Schrimpf, Andreas 20 Schulmeister, Stephan 20 Frankel, Jeffrey A. 18 Marion, Nancy Peregrim 17 Shin, Hyun Song 17 McCauley, Robert N. 16 Sarno, Lucio 16 Bannier, Christina E. 13 Heinemann, Frank 12 Nitschka, Thomas 12 Rime, Dagfinn 12 Roubini, Nouriel 12 Taylor, Mark P. 12 Cheung, Yin-Wong 11 Eichenbaum, Martin 11 Kleshchelski, Isaac 11 Pesenti, Paolo A. 11 Prati, Alessandro 11 Röthig, Andreas 11 Burnside, A. Craig 10 Londono, Juan M. 10 Menkhoff, Lukas 10 Osler, Carol 10 Ranaldo, Angelo 10 Westerhoff, Frank H. 10 Allsopp, Louise 9 Della Corte, Pasquale 9 Hellwig, Christian 9 McGuire, Patrick M. 9 Morris, Stephen 9 Panayotov, George 9 Pavan, Alessandro 9 Reitz, Stefan 9 Sushko, Vladyslav 9 Velasco, Andrés 9
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Institution
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National Bureau of Economic Research 45 Christian-Albrechts-Universität zu Kiel / Institut für Weltwirtschaft 4 Internationaler Währungsfonds / Research Department 4 Federal Reserve Bank of San Francisco / Center for Pacific Basin Monetary and Economic Studies 3 Bank für Internationalen Zahlungsausgleich / Währungs- und Wirtschaftsabteilung 2 Basel Committee on Banking Supervision 2 Centre for International Economic Studies 2 Federal Reserve System / Board of Governors 2 Banco Central do Brasil 1 Birkbeck College / Department of Economics 1 Centre for European Policy Studies 1 Christian-Albrechts-Universität zu Kiel / Institut für Volkswirtschaftslehre 1 Council on Foreign Relations 1 Deakin University 1 Department of Economics, McMaster University 1 Department of Economics, School of Business 1 Economic Research Southern Africa (ERSA) 1 Federal Reserve Bank of Chicago 1 Freie Universität Berlin / Fachbereich Wirtschaftswissenschaft 1 Institut für Weltwirtschaft / Abteilung Entwicklungsländer und Weltwirtschaft 1 Institute for International Economics 1 Internationaler Währungsfonds 1 Internationaler Währungsfonds / Southeast Asia and Pacific Department 1 Massachusetts Institute of Technology / Department of Economics 1 Peterson Institute for International Economics 1 Rheinische Friedrich-Wilhelms-Universität Bonn / Zentrum für Europäische Integrationsforschung 1 School of Economics and Finance, Queen Mary 1 Sosialøkonomisk Institutt 1 Springer Fachmedien Wiesbaden 1 Stanford Institute for Economic Policy Research 1 State University of New York at Albany / Department of Economics 1 USA / Congress / House of Representatives / Committee on Small Business 1 USA / Congress / House of Representatives / Subcommittee on International Economic Policy and Trade 1 USA / Congress / Senate / Committee on Foreign Relations 1 University of Strathclyde / Department of Economics 1 Universität Hannover / Wirtschaftswissenschaftliche Fakultät 1 Verein für Socialpolitik / Ausschuss für Geldtheorie und Geldpolitik 1 Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 1 Weltbank / Development Research Group / Finance 1 Weltbank / Latin America and the Caribbean Regional Office / Poverty Reduction and Economic Management Unit 1
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Published in...
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NBER working paper series 44 Working paper / National Bureau of Economic Research, Inc. 43 NBER Working Paper 42 Journal of international money and finance 39 Discussion paper / Centre for Economic Policy Research 31 Journal of international economics 22 BIS quarterly review : international banking and financial market developments 19 IMF working papers 18 Journal of banking & finance 16 IMF working paper 13 International journal of finance & economics : IJFE 13 Journal of international financial markets, institutions & money 13 Journal of financial economics 12 BIS working papers 11 CESifo working papers 11 Finance research letters 11 International review of economics & finance : IREF 10 WIFO working papers 10 European economic review : EER 9 International finance discussion papers 9 Review of international economics 9 The journal of futures markets 9 The North American journal of economics and finance : a journal of financial economics studies 8 Wiley trading series 8 Working paper 8 Applied financial economics 7 International review of financial analysis 7 Journal of financial and quantitative analysis : JFQA 7 Kiel advanced studies working papers : advanced studies in international economic policy research 7 Research in international business and finance 7 BIS Working Paper 6 Journal of economic dynamics & control 6 The journal of finance : the journal of the American Finance Association 6 Beiträge des Fachbereichs Wirtschaftswissenschaften der Universität Osnabrück 5 Discussion paper / Centre for International Economic Studies, University of Adelaide 5 Discussion paper / Tinbergen Institute 5 Discussion papers / CEPR 5 ECB Working Paper 5 Economic modelling 5 Europäische Hochschulschriften / 5 5
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Source
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ECONIS (ZBW) 1,707 USB Cologne (EcoSocSci) 13 RePEc 8 EconStor 3
Showing 1 - 50 of 1,731
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Currency speculation around the opening of the telegraph between London and Paris in 1851
Herger, Nils - 2024
This paper employs the opening of the first international telegraph between London and Paris on 13 November 1851 as a unique event that enabled a virtually instantaneous information exchange between the largest financial centers. Before this opening, a London currency speculator comparing the...
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Currency speculation around the opening of the telegraph between London and Paris in 1851
Herger, Nils - 2024
This paper employs the opening of the first international telegraph between London and Paris on 13 November 1851 as a unique event that enabled a virtually instantaneous information exchange between the largest financial centers. Before this opening, a London currency speculator comparing the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015182905
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Beyond carry: the prospective interest rate differential and currency excess returns
Dong, Mengmeng; Goto, Shingo; Hou, Kewei; Yan, Xu; … - 2024
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Essays on currency crash risk, carry trade returns, and sovereign bond yields
Mavuş Kütük, Merve - 2024
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The impact of currency carry trade activity on the transmission of monetary policy
Boeck, Maximilian; Steshkova, Alina; Zörner, Thomas - 2024 - This Version: August 2024
This paper examines how carry trade activity affects the transmission of monetary policy in currency markets. It analyzes a set of developed and emerging market currencies against the U.S. dollar. The U.S. dollar appreciates in response to a conventional monetary policy shock but depreciates to...
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Foreign exchange order flow as a risk factor
Burnside, Craig; Cerrato, Mario; Zhang, Zhekai - 2023
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Volatility transmitter or receiver? : investigating dynamic connectedness between the carry trade and financial markets
Nefzi, Nourhaine; Melki, Abir - In: Borsa Istanbul Review 23 (2023) 3, pp. 748-758
By examining the connectedness of carry trade currency with stock, foreign exchange (forex), and commodity markets, the paper investigates the extent to which shocks in capital flows driven by interest-rate differentials affect financial markets. Following the framework of Diebold and Yilmaz...
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Safe asset carry trade
Ballensiefen, Benedikt; Ranaldo, Angelo - In: Review of asset pricing studies : RAPS 13 (2023) 2, pp. 223-265
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Risk-Return Relation of Cryptocurrency Carry Trade
Fan, Zhenzhen; Jiao, Feng; Lu, Lei; Tong, Xin - 2023
This paper comprehensively examines the risk-return relation of cryptocurrency carry trade using realistic borrowing and lending interest rates. We find significant violations of the uncovered interest rate parity in the cryptocurrency market. The cross-sectional carry trade strategy yields an...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014254466
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Current Account Uncertainty and Currency Premia
Institute for Monetary and Financial Research, Hong Kong - 2023
This working paper is written by Pasquale Della Corte (Imperial College London) and Aleksejs Krecetovs (Imperial College London).We empirically study the relationship between currency excess returns and current account uncertainty, measured as forecast dispersion. We find that investment...
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An Introduction to Bond Carry Trading Strategies
Burgess, Nicholas - 2023
Bond carry trading is a popular strategy among investors who are looking for higher returns while minimizing risks. The basic premise of this strategy is to buy a high yield bond and sell a low yield bond in the same currency and sector, with the intention of capturing the difference in yield,...
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Risk-Return Relation of Cryptocurrency Carry Trade
Fan, Zhenzhen; Jiao, Feng; Lu, Lei; Tong, Xin - 2023
This paper comprehensively examines the risk-return relation of cryptocurrency carry trade using realistic borrowing and lending interest rates. We find significant violations of the uncovered interest rate parity in the cryptocurrency market. The cross-sectional carry trade strategy yields an...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014351045
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Macro News Effects on Exchange Rates : Difference between Carry Trade Target and Safe-haven Currencies
Wang, Wenhao; Lin, Zhitao; Hu, Bing - 2023
We compare the effects of the US macro news on the exchange rates of carry trade target currencies and safe-haven currencies in the post-GFC period. Relying on the data of 5-min changes of exchange rates, we find significant responses of currencies to the surprises of the US macro news. The...
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Hoarding of International Reserves : Mrs Machlup's Wardrobe and the Joneses
Research, Hong Kong Institute for Monetary and Financial - 2022
This working paper was written by Yin-wong Cheung (University of California, Santa Cruz) and XingWang Qian (University of California, Santa Cruz).Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup’s wardrobe hypothesis...
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Speculative attacks on the Drachma and the changeover to the Euro
Anastasatos, Tassos; Manou, Konstantina - 2022
This article examines speculative attacks against the Greek drachma from 1960 until the adoption of the euro in 2001. The analysis is preceded by a historical review. Subsequently, using monthly data on a plethora of economic, financial and political variables, a range of Limited Dependent...
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How homogenous are currency crises? A panel study using multiple - response models
Anastasatos, Tassos; Davidson, Ian - 2022
This paper presents evidence that currency episodes display heterogeneity in terms of their evolution, their impact on the inflicted economy and their links with financial, political and macroeconomic fundamentals. Limited-dependent variable models for ordered and unordered outcomes along with...
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The term structure of currency futures' risk premia
Bernoth, Kerstin; Hagen, Jürgen von; Vries, Casper G. de - In: Journal of money, credit and banking : JMCB 54 (2022) 1, pp. 5-38
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Technical Trading Rule Profitability in Currencies : It’s All About Momentum
Hutchinson, Mark; Kyziropoulos, Panagiotis; O'Brien, John; … - 2022
Recent academic and practitioner attention has focused on currency momentum. In this paper we replicate technical trading rules to assess their relationship with momentum. From an investment perspective, the average out-of-sample pre-transaction cost Sharpe ratio of technical trading rules is...
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Technical trading rules' profitability and dynamic risk premiums of cryptocurrency exchange rates
Masuku, Khumbulani L.; Gopane, Thabo J. - In: Journal of capital markets studies 6 (2022) 1, pp. 6-32
Purpose - The study considers time-varying risk premium in investigating the capability of technical analysis (TA) to predict and outperform a buy-hold strategy in Bitcoin exchange rate returns. Design/methodology/approach - The study tests the technical trading rule of fixed moving average...
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Signaling Versus Commitment Strengthening : Exchange Rate Insurance Against Currency Attacks
Chiu, Y. Stephen - 2022
Both empirical and theoretical studies suggest that currency attacks can occur even in a fixed exchange rate regime with sound fundamentals. Can mechanisms be designed to prevent such currency attacks? To address this question, we first need a theory of currency crisis. I argue that such a...
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Sovereign Defaults and Currency Crashes : Insurance, Carry Trade, and Quanto
Georgievska, Ljubica - 2022
To what extent are currency crashes linked to sovereign defaults? Measuring their relationship is notoriously difficult because these are rare disaster events. I take a novel approach. I learn about the risk-neutral distribution of rare currency crushes from prices of far out-of-the-money (FOM)...
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Varieties of Currency Crises
Kaminsky, Graciela L. - 2022
The plethora of currency crises around the world has fueled many theories on the causes of speculative attacks. The first-generation models focus on fiscal problems. The second-generation models emphasize countercyclical policies and self-fulfilling crises. In the 1990s, models pinpoint to...
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Paper Tigers? a Model of the Asian Crisis
Corsetti, Giancarlo; Pesenti, Paolo A.; Roubini, Nouriel - 2022
This paper develops an interpretation of the Asian meltdown focused on moral hazard as the common source of overinvestment, excessive external borrowing, and current account deficits. To the extent that foreign creditors are willing to lend to domestic agents against future bail-out revenue from...
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The Role of Hedgers and Speculators in the Currency Futures Markets
Yoon, Jungah; Ruan, Xinfeng; Zhang, Jin E. - 2022
Kang et al. (2020) find cross-sectional evidence that short- and long-term variation of position changes are driven by liquidity demand of noncommercials and hedging demands of commercials in commodity futures markets. In this paper, we find the commercials' hedging demands drive both short-term...
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Capital Flows and Speculative Attacks in Prospective EU Member States
Gibson, Heather D.; Tsakalōtos, Eukleidēs - 2022
This paper examines the capital flow experience of transition economies who are also prospective EU members with a view to shedding light on the likely problems they might encounter with exchange rate policy in the run up to euro area membership. We show that they have been experiencing fairly...
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Financial intermediaries and speculation in the foreign exchange market : the role of monetary policy in Iran's economy
Sadeghi, Abdorasoul; Marzban, Hussein; Samadi, Ali Hussein - In: Journal of economic structures : JES; the official … 11 (2022), pp. 1-26
Given the high fluctuations of the general price level, the importance of investment, and accessing sufficient financial resources, we examine the effects of monetary policy on the nominal (Inflation) and real (Investment) sectors of a developing economy, like Iran, through the channel of the...
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FX liquidity risk and carry trade premia
Söderlind, Paul; Somogyi, Fabricius - 2022
The foreign exchange (FX) market is considered to be the largest and presumably most liquid financial market in the world. We show that even in this market exposure to liquidity risk commands a non-trivial risk premium of up to 3.6% per annum. In particular, systematic and currency-specific...
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Fix vs. float : evaluating the transition to a sustainable equilibrium in Bolivia
González, Andrés; Jafarov, Etibar; Rodríguez, Diego; … - 2022
Bolivia has achieved noteworthy success over the past 15 years in raising incomes, reducing poverty, and maintaining macroeconomic stability by deploying commodity revenues to finance transfers, public investment, and state-led development, using an exchange rate peg as a policy anchor. However,...
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Speculative eurozone attacks and departure strategies
Homburg, Stefan - 2018
This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks. Suspicion of a departure from the common currency induces a terminal outflow of central bank money in weaker member states. TARGET2 cannot inhibit this drain but only protects...
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Carry trade dynamics under capital controls : the case of China
Balding, Christopher; Gregoriou, Andros; Tarzia, Domenico; … - In: Asia Pacific financial markets 31 (2024) 4, pp. 1065-1085
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Current account uncertainty and currency premia
Della Corte, Pasquale; Krecetovs, Aleksejs - In: Management science : journal of the Institute for … 70 (2024) 9, pp. 5795-5815
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Examining the dependence structure between carry trade and equity market returns in BRICS economies
Makhanya, Kabelo Collen; Bonga-Bonga, Lumengo; … - In: International economic journal 38 (2024) 2, pp. 365-384
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Geopolitical risk and currency returns
Liu, Xi; Zhang, Xueyong - In: Journal of banking and finance 161 (2024), pp. 1-20
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Cross-momentum strategies in the equity futures and currency markets
Iwanaga, Yasuhiro; Sakemoto, Ryuta - In: Journal of international money and finance 148 (2024), pp. 1-16
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Tobin tax, carry trade, and the exchange rate dynamics
Li, Xiaoping; Zhou, Chunyang - In: Computational economics 63 (2024) 4, pp. 1627-1647
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The out-of-sample performance of carry trades
Hsu, Po-Hsuan; Taylor, Mark P.; Wang, Zigan; Li, Yan - In: Journal of international money and finance 143 (2024), pp. 1-22
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Political risks, excess and carry trade returns in global markets
Kesse, Kwabena; Blenman, Lloyd P. - In: International review of financial analysis 91 (2024), pp. 1-13
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Concealed carry
Andrews, Spencer; Colacito, Riccardo; Croce, Mariano M.; … - In: Journal of financial economics 159 (2024), pp. 1-18
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The boom of corporate debt in emerging markets : carry trade or save to invest?
De Gregorio, Jose; Jara Bertín, Mauricio - In: Journal of international economics 148 (2024), pp. 1-27
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Currency portfolios and global foreign exchange ambiguity
Asano, Takao; Cai, Xiaojing; Sakemoto, Ryuta - In: Finance research letters 65 (2024), pp. 1-7
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Peg abandonment and cross-currency contagion
Balke, Florian; Barth, Andreas; Reichel, Arne; … - In: Management science : journal of the Institute for … 70 (2024) 8, pp. 5599-5606
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Arbitraging covered interest rate parity deviations and bank lending
Keller, Lorena - In: American economic review 114 (2024) 9, pp. 2633-2667
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When are Fixed Exchange Rates Really Fixed?
Velasco, Andrés - 2021
This paper analyzes the sustainability of fixed exchange rates by extending the Barro-Gordon framework to a fully dynamic context in which the level of a state variable (in this case debt) determines the payoffs available to the government at each point in time. The model yields the following...
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Perspectives on the Recent Currency Crisis Literature
Flood, Robert P.; Marion, Nancy Peregrim - 2021
In the 1990s, currency crises in Europe, Mexico and Southeast Asia have drawn worldwide attention to speculative attacks on government-controlled exchange rates. To improve our understanding of these events, researchers have undertaken new theoretical and empirical work. In this paper, we...
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Rational Speculation and Exchange Rates
Duarte, Margarida; Stockman, Alan C. - 2021
In this paper we develop a general equilibrium model of exchange rates where expectations of future variables directly affect the current exchange rate through an 'asset-market' term. This term, which results from the assumptions of incomplete asset markets and segmented product markets, does...
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A Model of Crises in Emerging Markets
Dooley, Michael P. - 2021
First generation models of speculative attacks show that apparently random speculative attacks on policy regimes can be fully consistent with rational and well-informed speculative behavior. Unfortunately, models driven by a conflict between exchange rate policy and other macroeconomic...
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Political Contagion in Currency Crises
Drazen, Allan - 2021
Existing models of contagious currency crises are summarized and surveyed, and it is argued that more weight should be put on political factors. Towards this end, the concept of political contagion introduced, whereby contagion in speculative attacks across currencies arises solely because of...
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The Mexican Peso Crisis : Sudden Death or Death Foretold?
Sachs, Jeffrey; Tornell, Aaron; Velasco, Andrés - 2021
We argue that allowing for the possibility of a self-fulfilling panic helps in understanding several features of the recent Mexican crisis. Self-fulfilling expectations became decisive in generating a panic only after the government ran down gross reserves and ran up short-term dollar debt. We...
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Emerging Market Currency Excess Returns
Gilmore, Stephen W.; Hayashi, Fumio - 2021
We discuss the foreign currency forward premium puzzle in the context of 20 internationally tradable emerging market currencies. We find that since the late 1990s the broad basket of emerging market currencies has provided significant equity-like excess returns against a number of major market...
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Transition Issues for the European Monetary Union
Buiter, Willem H.; Sibert, Anne C. - 2021
If Stage Three of EMU starts on January 1, 1999, transition issues remain on two time scales. Until July 1, 2002, national currencies and the euro co-exist as legal tender. We argue that intra-EMU currency risk exists in principle during that period, but that no EMU member can be forced out...
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