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Exchange rates and insulation in emerging markets

Eichengreen, Barry; Park, Donghyun; Ramayandi, Arief; … - 2020

The insulating properties of flexible exchange rates have long been a highly contentious issue in emerging markets - not least in Asian emerging markets. A number of recent theoretical and empirical studies question whether a trade-off exists between rigid exchange rate regimes and insulation...

Persistent link: https://www.econbiz.de/10012171308

Determinants of De Jure : de facto exchange rate regime gaps

Dudzich, Viktar - In: Journal of central banking theory and practice 11 (2022) 1, pp. 151-177

This paper investigates inconsistencies between countries' official exchange rate regime declarations (the so-called de jure exchange rate regimes) and their actual policy (de facto exchange rate regimes). These exchange rate regime gaps decrease the credibility of monetary policy and are...

Persistent link: https://www.econbiz.de/10012805976

Analysis of the imperial rent of reserve currency : a manifestation of existence and a method of quantity estimation

Osman, Omar - In: World review of political economy : journal of the … 14 (2023) 1, pp. 149-163

This article provides an analysis of the economic cost incurred by the world through the use of the fiat international … reserve currency since the end of the 1971 gold standard system. The article uses the Quantity Theory of Money to provide an … method to estimate the cumulative quantity of this rent by using data on the broad money supply, nominal GDP, and world total …

Persistent link: https://www.econbiz.de/10014434280

The disadvantages of sovereign currency as the world currency

Sun, Yexia - In: World review of political economy : journal of the … 13 (2022) 1, pp. 45-59

From the perspective of Marx's theory of the functioning of the international monetary system, there are inherent … disadvantages in a sovereign currency acting as the world currency. First, the existing model of the single world currency is unfair …, with the country whose sovereign currency functions as the world currency able to obtain huge international seigniorage and …

Persistent link: https://www.econbiz.de/10014434141

How to increase the value of bilateral trade? : currency union versus fixed exchange rate regime

Stoykova, Oleksandra Ivanievna - In: Entrepreneurial business and economics review : EBER 9 (2021) 2, pp. 21-38

Objective: The objective of the article is to determine which exchange rate regime provides higher bilateral trade: fixed rate or currency union. Research Design & Methods: An index was designed based on variables commonly recognised as those that might affect the value of bilateral trade and...

Persistent link: https://www.econbiz.de/10012520004

Exchange rate regimes and global cocoa trade: to float or to peg?

Addai, Bismark; Gyimah, Adjei Gyamfi; Poku-Agyemang, Kwadwo - In: Cogent economics & finance 8 (2020) 1, pp. 1-10

The effectiveness of different exchange rate systems continues to attract the attention of many scholars, however, most discussions on exchange rate regimes have focused on how the phenomenon affects economic growth, economic stability, financial crises, international tourism, and international...

Persistent link: https://www.econbiz.de/10012219368

Do government guarantees really matter in fixed exchange rate regimes?

Janot, Marcio Magalhães; Garcia, Márcio Gomes Pinto; … - In: Economia : revista da ANPEC 20 (2019) 3, pp. 139-152

Since the mid 1990s, theories of speculative attacks have argued that fixed exchange rate regimes induce excessive borrowing in foreign currency as an optimal response to implicit guarantees that the government will not devalue the domestic currency. Using data on Brazilian firms before and...

Persistent link: https://www.econbiz.de/10012171089

Overview of the national bank of Romania's role in the last century

Criste, Adina; Lupu, Iulia - In: Financial studies 24 (2020) 2, pp. 6-17

The central bank is one of the main pillars of a country's government and one of the institutions most required to respond to crisis situations in the economy. In this respect, the National Bank of Romania, as the monetary authority of the Romanian state, is constantly subject to such pressure....

Persistent link: https://www.econbiz.de/10012421611

Modeling and simulating cross country banking contagion risks

Zedda, Stefano; Spinace-Casale, Antonella - In: Journal of risk and financial management : JRFM 14 (2021) 8, pp. 1-16

The recent financial crisis proved that financial contagion could spread among countries resulting in disruptive effects. In this paper, by modeling and simulating banking system behavior and linkages across countries, we assess, based on data from the BIS and IMF, the possible outcome of...

Persistent link: https://www.econbiz.de/10012626421

Value at risk, legislative framework, crises, and procyclicality : what goes wrong?

Vasileiou, Evangelos; Samitas, Aristeidis - In: Review of Economic Analysis : REA 12 (2020) 2, pp. 1-28

This study highlights some deficiencies of the stock markets' risk legislation framework, and particularly the CESR (2010) guidelines. We show that the current legislative framework fails to offer incentives to financial management companies to invest in advanced models for more representative...

Persistent link: https://www.econbiz.de/10012269223