The coordination channel has recently been established as an additional means by which foreign exchange market intervention may be effective. It is conjectured that strong and persistent misalignments of the exchange rate are caused by a coordination failure among fundamentals-based traders. In...

The coordination channel has recently been established as an additional means by which foreign exchange market intervention may be effective. In Sarno and Taylor (2001) it is conjectured that strong and persistent misalignments of the exchange rate are caused by a coordination failure among...

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and consequently, debt service obligations--will differ from those assumed in the initial DEER...

Die Weltkonjunktur ist ausgesprochen schwach in das Jahr 2015 gestartet. Zwar wird sich die wirtschaftliche Dynamik im weiteren Verlauf dieses Jahres wieder verstärken und im kommenden Jahr voraussichtlich weiter an Fahrt gewinnen. Der Anstieg der Weltproduktion gerechnet auf Basis von...

Following a weak start into 2015, the global economy is expected to pick up again in the course of this year. Average annual world output growth will nevertheless remain sluggish at 3.4 percent on a purchasing power parity weighted basis, before accelerating modestly to 3.8 percent next year....

Following a weak start into 2015, the global economy is expected to pick up again in the course of this year. Average annual world output growth will nevertheless remain sluggish at 3.4 percent on a purchasing power parity weighted basis, before accelerating modestly to 3.8 percent next year....

Die Weltkonjunktur ist ausgesprochen schwach in das Jahr 2015 gestartet. Zwar wird sich die wirt­schaftliche Dynamik im weiteren Verlauf dieses Jah­res wieder verstärken und im kommenden Jahr voraussichtlich weiter an Fahrt gewinnen. Der An­stieg der Weltproduktion gerechnet auf Basis von...