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Pang, Xiaobo; Huang, Weiting - 2005

This paper builds an inter-temporal model to study the value and network effects in the process of currency substitution. According to our model, we can define the inaction area and malignant area by taking real interest rate difference and network effect variable as two axes. We also find that...

Persistent link: https://www.econbiz.de/10015269447

Currency Substitution and Currency Crises

Sun, Yu-Fong; Tsaur, Tien-Wang - In: Journal of Economics and Management 3 (2007) 2, pp. 177-199

to reduce transaction costs, domestic and foreign currencies are introduced into the system. The results of study showed … substitution or complement. We found that the extreme degree of substitutability of currencies led to earlier currency crisis …; however, moderate degree of substitutability of currencies postponed currency crisis. We also explored the dynamic transition …

Persistent link: https://www.econbiz.de/10008555941

Supply Shocks, Price Regime Collapse under Dual Floating Exchange Rate Regimes

Liaw, Peir-Shyan; Cheng, Ming-Fang - In: Journal of Economics and Management 2 (2006) 2, pp. 147-186

This paper extends the theoretical model of Liaw et al. (2004) to incorporate the supply shocks of output. For a country adopting dual floating exchange rate system and facing the supply shocks will cause the price level to increase persistently. If the price level reaches the price ceiling...

Persistent link: https://www.econbiz.de/10008555951

The Development of International Finance Theories: A Survey

Lai, Ching-Chong - In: Journal of Economics and Management 1 (2005) 2, pp. 105-118

This paper briefly surveys the development of international finance theories after the 1960s. The important theories reviewed in this paper include: exchange rate dynamics, policy pre-announcement, first-generation currency crises, intertemporal optimizing model, exchange rate target zones,...

Persistent link: https://www.econbiz.de/10008555975

货币政策、汇率和资本流动 — 从'等边三角形”到“不等边三角形' (Monetary Policy, Exchange Rate and Capital Flow — From 'Equilateral Triangle' to 'Scalene Triangle')

Sun, Guofeng - 2017

The English version of this paper can be found at 'http://ssrn.com/abstract=2949307' http://ssrn.com/abstract=2949307.Chinese Abstract:...

Persistent link: https://www.econbiz.de/10012959018