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growth; the magnitude of return predictability using these two uncertainty measures is similar to that by multiple yields … inflation. The model simultaneously accounts for bond return predictability and violations of uncovered interest parity in …
Persistent link: https://www.econbiz.de/10010796750
Connection between interest rate and foreign exchange is important because of the economic volatility of the two … aims to establish a series of characteristics regarding the impact of interest rate in exchange rate volatility. This kind …
Persistent link: https://www.econbiz.de/10008833281
This is the 2007 Edition of the only book in print in the world about the Single Global Currency, and is the only book … in the world priced in 143 currencies (down from 147 in the 2006 edition.).This number is significant, as it's the number … describes the origins of the current worldwide foreign exchange system, and tells how to change it; and save the world …
Persistent link: https://www.econbiz.de/10005621973
We apply an approach recently developed by Elliott et al. (Rev. Ec. Studies. 72, 1197-1125, 2005) to study whether forecasts of the dollar/British pound exchange rate extracted from a panel of survey data are consistent with an asymmetric loss function. We find that only few forecasters seem to...
Persistent link: https://www.econbiz.de/10011278661
in each region and devise counter policy measures against future idiosyncratic shocks. In the last decade, world dynamics …
Persistent link: https://www.econbiz.de/10008533255
This paper utilizes Vector Auto Regression (VAR) models to analyze the interdependence among exchange rates of twelve Asian-Pacific nations, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, and Vietnam. The daily data span from...
Persistent link: https://www.econbiz.de/10005126681
the return to classical economic principles. The recent crisis necessitates a shift in the way economists understand …
Persistent link: https://www.econbiz.de/10009293018
during the 20th century is discussed. The paper describes the Bretton Woods regime after World War II, details the era of …
Persistent link: https://www.econbiz.de/10009145755
This paper builds a dynamic stochastic general equilibrium (DSGE) model for Latvia that would be suitable for policy analysis and forecasting purposes at Latvijas Banka. For that purpose, the DSGE model with financial frictions of Christiano, Trabandt and Walentin (2011) is adapted to Latvia's...
Persistent link: https://www.econbiz.de/10010944593
Which are the main frictions and the driving forces of business cycle dynamics in an open economy? To answer this question we extend the standard new Keynesian model in three dimensions: we incorporate financing frictions for capital, employment frictions for labor and extend the model into a...
Persistent link: https://www.econbiz.de/10010573983