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The global economy has witnessed significant transformations in recent decades, marked by the emergence of new economic powers and the evolution of financial systems. Within this context, the globalization of currencies has become a crucial aspect of international economic dynamics. This paper...
Persistent link: https://www.econbiz.de/10015213345
Granger causality test. Significant non-stationarity, and the presence of unit roots were documented for each currency under … as the common currency for ASEAN. The analysis is repeated by adding US dollar to the model. The finding ascertains the …
Persistent link: https://www.econbiz.de/10015213714
The main thesis in this manuscript is that a social choice theory based on aggregating individual preferences and values is insufficient to confront the social choices that today’s world is facing. It is defended in here that institutions play a critical role in any social choice, and that the...
Persistent link: https://www.econbiz.de/10015214328
exchange rate first floated, or when the anchor currency was changed. …
Persistent link: https://www.econbiz.de/10015215511
This is the chartbook of individual country exchange rate histories and their experience with parallel markets, 1946-2001 that accompanies "The Modern History of Exchange Rate Arrangements: A Reinterpretation." We develop a novel system of reclassifying historical exchange rate regimes. One key...
Persistent link: https://www.econbiz.de/10015215512
Este trabajo presenta un análisis teórico y empirico de las politicas dirigidas a alcanzar un nivel más depreciado de la tasa de carnbio real. Un modelo de optimización intertemporal sugiere que, en ausencia de cambios en la politica fiscal, un nivel más depreciado de la tasa de carnbio...
Persistent link: https://www.econbiz.de/10015215702
We develop a novel system of reclassifying historical exchange rate regimes. One key difference between our study and previous classifications is that we employ monthly data on market-determined parallel exchange rates going back to 1946 for 153 countries. Our approach differs from the IMF...
Persistent link: https://www.econbiz.de/10015216069
During and after the 2008-2009 global financial crisis, the growth cycle of Vietnam’s economy has shifted from an average annual growth rate of 7%-8% to an average annual growth rate of 5%-6% with a high level of macroeconomic instability and uncertainty from 2009 till 2016. Related studies...
Persistent link: https://www.econbiz.de/10015216210
Abstract This is the 2008 Edition of one of only two book in print in the world about the Single Global Currency, and … people of different currency areas to trade. That system has become far more sophisticated in the meantime and handles $3 ….8 trillion per day; but it is very expensive and risky. It is now time to replace that system with a single global currency. In a …
Persistent link: https://www.econbiz.de/10015216571
International monetary system made by agreement in Bretton – Woods, is widely known to be the system of fixed exchange rates with allowed +/- 1% band of oscillation. As such, it is viewed as the period of exchange rates stability. However, our analysis of Reinhart – Rogoff’s (2004)...
Persistent link: https://www.econbiz.de/10015216907