Search Results - subject:"Monetary Model"

Engel, Charles; West, Kenneth D. - European Central Bank - 2003

Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates -- that is,...

Persistent link: https://www.econbiz.de/10005033429

Exchange Rate Dynamics with Currency Substitution: the Case of Ghana, Paraguay and Uruguay

JEANNENEY, Sylviane GUILLAUMONT; ROUMEGOUS, Emmanuelle - Centre d'Études et de Recherches sur le Développement … - 2003

This paper presents a monetary exchange rate model with imperfect capital mobility, slow adjustment of goods prices in the short-term and currency substitution. As in Dornbusch’s model (1976), it is demonstrated that an exogenous monetary shock can lead to an initial overshooting of the...

Persistent link: https://www.econbiz.de/10005016594

The monetary approach to exchange rates in the CEECs

Crespo-Cuaresma, Jesús; Fidrmuc, Jarko; McDonald, Ronald - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2003

Mean Group estimator, the Fully Modified Least Square estimator and the Dynamic Least Square estimator. The monetary model …

Persistent link: https://www.econbiz.de/10005648580

Stabilizing Poverty In The Context Of The IMF's Monetary Model

Chand, Sheetal K. - Økonomisk institutt, Universitetet i Oslo - 2003

The IMF monetary model focuses on the balance of payments. This paper adds a poverty stabilization objective to it …

Persistent link: https://www.econbiz.de/10005652149

Stock Prices as a leading indicator of the East Asian Financial Crisis.

Broome, Simon J.; Morley, B. - Department of Economics, National University of Ireland - 2003

Asian currency crisis in 1997 and 1998. Stock prices are incorporated into a basic monetary model, through the wealth effect …

Persistent link: https://www.econbiz.de/10005656668

Pick Your Poison; The Exchange Rate Regime and Capital Account Volatility in Emerging Markets

Iwata, Shigeru; Tanner, Evan - International Monetary Fund (IMF) - 2003

We characterize a country's exchange rate regime by how its central bank channels a capital account shock across three variables: exchange depreciation, interest rates, and international reserve flows. Structural vector autoregression estimates for Brazil, Mexico, and Turkey reveal such...

Persistent link: https://www.econbiz.de/10005769109

Pricing Policies and Inflation Inertia

Kumhof, Michael; Céspedes, Luis Felipe; Parrado, Eric - International Monetary Fund (IMF) - 2003

This paper provides a monetary model with nominal rigidities that differs from the conventional New Keynesian model …

Persistent link: https://www.econbiz.de/10005599311

Nominal Anchors in the CIS

Keller, Peter; Richardson, Thomas J. - International Monetary Fund (IMF) - 2003

Monetary policy has become increasingly important in the countries of the Commonwealth of Independent States (CIS) as fiscal adjustment and structural reforms have taken root. Inflation has been brought down to relatively low levels in almost all of these countries, raising the question of what...

Persistent link: https://www.econbiz.de/10005605291

The Monetary Model of the Exchange Rate under High Inflation -The case of the Turkish Lira/US Dollar

Civcir, Irfan - In: Czech Journal of Economics and Finance (Finance a uver) 53 (2003) 3-4, pp. 113-129

This paper applies the Johansen cointegration technique to examine the validity of the monetary model of exchange … cointegrating vector is identified whose coefficients conform in broad terms to the restrictions implied by the monetary model, thus …-run monetary model, we calculate misalignment from the estimated long-run relationship to evaluate whether the lira was overvalued …

Persistent link: https://www.econbiz.de/10008495699

Empirical Exchange Rate Models of the Nineties: Are Any Fit to Survive?

Cheung, Yin-Wong; Chinn, Menzie; Garcia Pascual, Antonio - 2003

specifications - the purchasing power parity and the Dornbusch-Frankel sticky price monetary model. The models are estimated in error …

Persistent link: https://www.econbiz.de/10010322701