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The Imf's Reserves Template and Nominal Exchange Rate Volatility

Cady, John - 2007

The effects of the adoption of the IMF's International Reserves and Foreign Currency Liquidity Data Template on nominal exchange rate volatility are investigated for 48 countries. Estimation of panel data models indicates that nominal exchange rate volatility decreases following dissemination of...

Persistent link: https://www.econbiz.de/10012777957

Foreign Exchange Intervention and the Australian Dollar : Has it Mattered?

Edison, Hali J.; Cashin, Paul A. - 2021

Since the Australian dollar was floated in December 1983, the Australian central bank (Reserve Bank of Australia) has actively intervened in the foreign exchange market. Using daily exchange rate and official intervention data from January 1984 to December 2001, this paper examines what effects,...

Persistent link: https://www.econbiz.de/10013211943

Unveiling the Effects of Foreign Exchange Interventions : Evidence from the Kyrgyz Republic

Poghosyan, Tigran - 2021

This paper analyzes determinants and consequences of FX interventions in the Kyrgyz Republic. Most of the literature on the topic focuses on advanced and emerging economies and this paper provides new evidence from a low-income country. We find that FX interventions take place in response to...

Persistent link: https://www.econbiz.de/10013314835

A Small Foreign Exchange Market with a Long-Term Peg : Barbados

Craigwell, Roland C. - 2006

This paper is a first analysis of daily transactions in the foreign exchange market of Barbados, a small open economy that has had an unchanged peg to the U.S. dollar for over 30 years. As a result of the credibility of the peg, we expect that capital flows will respond to differentials between...

Persistent link: https://www.econbiz.de/10012779103

Realignment Expectations, Forward Rate Bias, and Sterilized Intervention in an Adjustable Peg Exchange Rate Model with Policy Optimization

Isard, Peter - 2006

The paper models an adjustable peg exchange rate arrangement as a policy rule with an escape clause under which the timing and magnitudes of realignments are the outcomes of policy optimization decisions. Under the assumptions that market participants are rational, risk averse, and fully...

Persistent link: https://www.econbiz.de/10012781765

The External Balance Assessment (EBA) Methodology

Phillips, Steven T. - 2014

The External Balance Assessment (EBA) methodology has been developed by the IMF's Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing...

Persistent link: https://www.econbiz.de/10013059857

The Level Reer Model in the External Balance Assessment (EBA) Methodology

Mano, Rui - 2019

This paper offers an empirical model of the drivers of the level of the Real Effective Exchange Rate (REER) that is now part of the IMF's methodology for the assessment of external positions, including exchange rates. It constructs a measure of the level of the REER and it offers a panel...

Persistent link: https://www.econbiz.de/10012860991

Global Value Chains and the Exchange Rate Elasticity of Exports

Ahmed Hannan, Swarnali - 2016

This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real...

Persistent link: https://www.econbiz.de/10012999740

Global Trade and the Dollar

Gopinath, Gita - 2018

.S. dollar is a key predictor of rest-of-world aggregate trade volume and consumer/producer price inflation. A 1 percent U ….S. dollar appreciation against all other currencies in the world predicts a 0.6-0.8 percent decline within a year in the volume … of total trade between countries in the rest of the world, controlling for the global business cycle. 4) Using a novel …

Persistent link: https://www.econbiz.de/10012928628

Can Higher Reserves Help Reduce Exchange Rate Volatility?

Nowak, M. - 2021

This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging market countries. The study employs a panel of 28 countries over the period 1986-2002. Several control variables are introduced in the regressions to account for other factors...

Persistent link: https://www.econbiz.de/10013211940