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Exchange Rates and Fundamentals : New Evidence from Real-Time Data
Ehrmann, Michael; Fratzscher, Marcel - 2021
-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force … behind daily US dollar - euro/DEM exchange rate developments in the period 1993-2003. The larger importance of US … macroeconomic news is at least partly explained by their earlier release time compared to corresponding German and euro area news …
Persistent link: https://www.econbiz.de/10013319332
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The euro crisis and economic growth : a novel counterfactual approach
Terzi, Alessio - 2019 - This Draft: 25 June 2019
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone …
Persistent link: https://www.econbiz.de/10012033212
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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone …
Persistent link: https://www.econbiz.de/10012866042
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The impact of macro news and central bank communication on emerging European forex markets
Égert, Balázs; Kočenda, Evžen - 2013
the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal … news and communication along with the estimated exchange rate misalignment on exchange rate as well as its volatility …
Persistent link: https://www.econbiz.de/10009764449
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The interventions of the European Central Bank : effects, effectiveness, and policy implications
Frenkel, Michael; Stadtmann, Georg; Pierdzioch, Christian - 2001
) in the fall of 2000 to support the external stability of the euro. To this end, in a first step different channels …
Persistent link: https://www.econbiz.de/10010503715
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COVID-19 pandemic and the exchange rate movements : evidence from six major COVID-19 hot spots
Jamal, Aamir; Bhat, Mudaser Ahad - In: Future Business Journal 8 (2022), pp. 1-11
deaths on the Rupee/USD, Pound/USD, Yuan/USD, Real/USD, Lira/USD, and Euro/USD exchange rates is analyzed by using the panel …
Persistent link: https://www.econbiz.de/10013273767
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The interdependence of gold, US dollar and stock market in the context of COVID-19 pandemic : an insight into analysis in Asia and Europe
Oanh Kim Thi Tran; Ha Nguyen - In: Cogent economics & finance 10 (2022) 1, pp. 1-18
Using the panel data vector autoregression (PVAR) model, this study examines the correlation between the stock market, gold price and USD exchange rate in the context of the COVID-19 pandemic in 55 Asian and 32 European countries from 11 March 2021 to 29 October 2021. The results of Granger...
Persistent link: https://www.econbiz.de/10014500215
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A behavioral New Keynesian model of a small open economy under limited foresight
Na, Seunghoon; Xie, Yinxi - 2023 - Last updated: August 17, 2023
This paper investigates exchange rate dynamics in open economies by incorporating bounded rationality. We develop a small open-economy New Keynesian model with an incomplete asset market, wherein decision-makers possess limited foresight and can plan for only a finite distance into the future....
Persistent link: https://www.econbiz.de/10014456583
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Managed Floating : Understanding the New International Monetary Order
Bofinger, Peter; Wollmershaeuser, Timo - 2001
Although there seems to be a broad consensus among economists that purely floating or completely fixed exchange rates (the so-called corner solutions) are the only viable alternatives of exchange rate management, many countries do not behave according to this paradigm and adopt a strategy within...
Persistent link: https://www.econbiz.de/10014129040
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Towards the Estimation of Equilibrium Exchange Rates for CEE Acceding Countries : Methodological Issues and a Panel Cointegration Perspective
Maeso Fernández, Francisco; Osbat, Chiara; Schnatz, Bernd - 2021
This paper provides a discussion of methodological issues relating to the estimation of the long-run relationship between exchange rates and fundamentals for Central and Eastern European acceding countries, focusing on the so-called behavioural equilibrium exchange rate (BEER) approach. Given...
Persistent link: https://www.econbiz.de/10013319341