Showing 1 - 10 of 1,601
We present empirical evidence that the Thai baht’s value is driven in part by investors’ cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive datasets of FX and stock market transactions undertaken by nonresident investors in Thailand in 2005 and 2006....
Persistent link: https://www.econbiz.de/10014395736
We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of changes in China’s exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns rise with renminbi revaluation expectations. This...
Persistent link: https://www.econbiz.de/10014399195
Persistent link: https://www.econbiz.de/10009424815
This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic...
Persistent link: https://www.econbiz.de/10014396348
, institutional, political and social underpinnings to uncover the 'missing' determinants of exchange rate volatility over time and … volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the 'soft … volatility across countries …
Persistent link: https://www.econbiz.de/10011281975
volatility in determining a firm's debt currency composition, among other channels. Furthermore, the effect of exchange rate … volatility becomes statistically insignificant beyond an estimated threshold credit-to-GDP ratio of 100 percent …
Persistent link: https://www.econbiz.de/10012102196
nominal exchange rate volatility are investigated for 48 countries. Estimation of panel data models indicates that nominal … exchange rate volatility decreases following dissemination of reserves template data while the effects of indebtedness and … reserve adequacy on volatility exhibit statistically significant changes …
Persistent link: https://www.econbiz.de/10014400175
evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an …
Persistent link: https://www.econbiz.de/10014400664
This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the … very disaggregated goods (e.g., light bulbs) in 83 cities around the world during 1990-2000. We find that the impact of an …
Persistent link: https://www.econbiz.de/10014401231
This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging … introduced in the regressions to account for other factors affecting exchange rate volatility (monetary and external indicators … exchange rate regime, since the regime can affect both the level of reserves and exchange rate volatility. The results provide …
Persistent link: https://www.econbiz.de/10014402047