Recent interest in futures contracts on emerging market currencies has raised concerns among some central bank authorities about their ability to maintain stable currencies. This paper presents empirical results examining the influence of the Mexican peso, the Brazilian real, and the Hungarian...

Zusammen mit der politischen Entscheidung zur Gründung einer Europäischen Währungsunion (EWU) wurden Konvergenzkriterien festgelegt, die signalisieren sollen, dass die Geldwertstabilität das primäre Ziel der künftigen europäischen Währungsbehörden ist. Obgleich die Erfüllung der...

Using Swiss data from 1983 to 1996, we first use the approach developed by MISHKIN and are able to reproduce very similar results for Switzerland. However, these results are extremely unstable, once further variables are introduced in the equations. After checking for the order of integration we...