Showing 1 - 10 of 19
Persistent link: https://www.econbiz.de/10000724448
Persistent link: https://www.econbiz.de/10001585685
Persistent link: https://www.econbiz.de/10003388355
Stabilization programs in open economies typically consist of two stages. In the first stage the rate of currency devaluation is reduced, but the fiscal adjustment does not eliminate the fiscal deficit which causes growth of debt and loss of reserves, making a future policy change necessary....
Persistent link: https://www.econbiz.de/10013212905
High interest rates to defend the exchange rate signal that a government is committed to fixed exchange rates, but may also signal weak fundamentals. We test the effectiveness of the interest rate defense by disaggregating into the effects on future interest rates differentials, expectations of...
Persistent link: https://www.econbiz.de/10012778233
Persistent link: https://www.econbiz.de/10003496061
Persistent link: https://www.econbiz.de/10012430530
Detailed country-by-country chronologies are an informative companion piece to our paper “Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?,” which provides a comprehensive history of anchor or reference currencies, exchange rate arrangements, and a new measure of...
Persistent link: https://www.econbiz.de/10012963735
Persistent link: https://www.econbiz.de/10012888041
Over the 21st century, and especially since 2014, global exchange rate volatility has been trending downwards, notably among the core G3 currencies (dollar, euro and the yen), and to some extent the G4 (including China). This stability continued through the Covid-19 recession to date: unusual,...
Persistent link: https://www.econbiz.de/10013232443