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volatility in determining a firm's debt currency composition, among other channels. Furthermore, the effect of exchange rate … volatility becomes statistically insignificant beyond an estimated threshold credit-to-GDP ratio of 100 percent …
Persistent link: https://www.econbiz.de/10012102196
evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an …
Persistent link: https://www.econbiz.de/10014400664
fluctuations in real commodity prices. Increased exchange rate volatility calls for a better understanding of these relations. To …
Persistent link: https://www.econbiz.de/10014398636
We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o utside t he U .S. a nd e uro a rea. We make s everal empirical observations that dissect the perceived advantage of borrowing in the dollar. First, while the dollar dominates...
Persistent link: https://www.econbiz.de/10012605639
, institutional, political and social underpinnings to uncover the 'missing' determinants of exchange rate volatility over time and … volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the 'soft … volatility across countries …
Persistent link: https://www.econbiz.de/10011281975
This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the …
Persistent link: https://www.econbiz.de/10014401231
This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging … introduced in the regressions to account for other factors affecting exchange rate volatility (monetary and external indicators … exchange rate regime, since the regime can affect both the level of reserves and exchange rate volatility. The results provide …
Persistent link: https://www.econbiz.de/10014402047
This paper examines the mechanisms through which output volatility is related to trade openness using an industry … appreciable impact on aggregate volatility. Added together they imply that the relationship between trade openness and overall … volatility is positive and economically significant …
Persistent link: https://www.econbiz.de/10014401281
Japan's efforts to reflate the domestic economy and achieve the inflation target. This paper takes a closer look at …
Persistent link: https://www.econbiz.de/10012102082
Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the relationship between monetary policy,...
Persistent link: https://www.econbiz.de/10013170273