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volatility of real and financial variables. Rather than attempting to characterize every possible shock and amplification … mechanism, this paper offers a parsimonious account of volatility in countries that have already tamed most of the traditional … only explain the observed volatility but they also generate clear externalities that require policy intervention. This …
Persistent link: https://www.econbiz.de/10014153316
significant efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and …
Persistent link: https://www.econbiz.de/10014153318
Sin abstract
Persistent link: https://www.econbiz.de/10005812498
The volatility of exchange rates leads to a reduction of international trade volumes, especially in emerging economies … flows, which comes timely after the increased volatility between the Euro and Arab national currencies during the last few … exchange rate volatility on trade using monthly time series for the last ten years from 2000 up to 2011. By means of a Vector …
Persistent link: https://www.econbiz.de/10011110154
We develop a general econometric model of currency crises and contagion that integrates a number of important features appearing in many different models recently proposed in the literature. In particular, we consider a Markov regime switching vector autoregression conditional heteroskedastic...
Persistent link: https://www.econbiz.de/10011065314
The major task of a development-friendly international financial architecture is to mitigate pro-cyclical effects of financial markets and open “policy space” for counter-cyclical macroeconomic policies in the developing world. This paper explores a series of policy instruments for this...
Persistent link: https://www.econbiz.de/10005619273
, it is found, has a significant impact on domestic money supply and stock market growth, liquidity and volatility. The …
Persistent link: https://www.econbiz.de/10005119480
Utilizing a panel data set for 13 developed economies, this paper examines the volatility of capital flows following … capital volatility is affected by the interaction between de jure financial liberalization (an index of liberalization) and de … found to increase capital volatility as expected. At lower volumes of capital, financial liberalization reduces capital …
Persistent link: https://www.econbiz.de/10005196422
While flexible exchange rates facilitate stabilisation, exchange rate fluctuations can cause real volatility. This … gives policy importance to the causal relationship between exchange rate depreciation and its volatility. An exchange rate … this: depreciation makes exchange rate more volatile for all but volatility does not causes depreciation in Tanzania which …
Persistent link: https://www.econbiz.de/10008739720
Utilizing a panel data set for 13 developed economies, this paper examines the volatility of capital flows following … capital volatility is affected by the interaction between de jure financial liberalization (an index of liberalization) and de … found to increase capital volatility as expected. At lower volumes of capital, financial liberalization reduces capital …
Persistent link: https://www.econbiz.de/10010629349