Search Results - subject_exact:"Currency peg"

The RMB's global role as an anchor currency : no evidence

Heimonen, Kari; Rönkkö, Risto - 2024

This study examines the role of the Chinese renminbi (RMB) as an international anchor currency. After China abandoned its tight US dollar (USD) peg in 2005, the RMB found greater popularity as a reserve currency. This change in the RMB's role reflected China's growing presence in the global...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014519200

Lebanon : from dollars to lollars

Baz, Salim; Cathcart, Lara; Michaelides, Alexander G. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015375054

Did the classical gold standard promote inflation convergence?

Miles, William - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015432048

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Did the Classical Gold Standard Promote Inflation Convergence?

Miles, William - 2023

Book / Working Paper

The alignment of monetary policy in foreign countries with the Federal Reserve Bank's monetary policy : evidence from fixed and floating exchange rate regimes

AL-Hindawi, Hatem; Bashayreh, Alaʹ; Abdelhadi, Samer - 2025

The study participates in adding a new term to the monetary policy literature which is the alignment of monetary policies between foreign countries and the Federal Reserve Bank's policy. This study aims to examine the effect of the of the monetary policy alignment in foreign countries with the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015438508

The causal effect of inflation on financial stability, evidence from history

Albertazzi, Ugo; Hooft, James 't; Ter Steege, Lucas - 2025

In contrast to the conventional Fisherian view that inflation reduces real debt positions, we show that significant increases in inflation are strongly associated with financial crises. In the spirit of Jord'a et al. (2020), countries with free and fixed exchange rates can be compared to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015552266

Graph neural networks and explainable spillovers : global monetary and oil shocks in GCC financial markets

Morshed, Amer - 2025

This study investigates how global monetary and oil shocks propagate across advanced and pegged oil economies, focusing on the United States, Germany, the United Kingdom, Saudi Arabia, and the United Arab Emirates over the period 2015-2023. It examines which transmission channels-liquidity,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015553237

Currency pegs and volatility in West African Economic and Monetary Union during COVID-19

Zuoping, Xiao; Zonon, Babatounde Ifred Paterne; Wang, … - 2025

This study examines how the COVID-19 pandemic affected the CFA franc (XOF) compared to the euro (EUR) within the West African Economic and Monetary Union (WAEMU). It is among the first to assess both currencies under systemic stress by combining event studies, risk metrics, and ARDL regressions....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625322

Output divergence in fixed exchange rate regimes

Chen, Yao; Ward, Felix - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015574494

How fixed are global exchange rates?

O'Rourke, Kevin Hjortshøj; Vicquéry, Roger H. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063186

The RMB's global role as an anchor currency: No evidence

Heimonen, Kari; Rönkkö, Risto - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014520282

Monetary policy is tight and dampens inflation

Levring, Peter Nick Bøgeby - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014553031

The industrial cost of fixed exchange rate regimes

Gnimassoun, Blaise; Grekou, Carl; Mignon, Valérie - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014532386

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The industrial cost of fixed exchange rate regimes

Gnimassoun, Blaise; Grekou, Carl; Mignon, Valérie - 2024

Book / Working Paper

Belize : 2021 Article IV consultation : press release; staff report; and statement by the Executive Director for Belize

2021

Belize has been hit hard by the COVID-19 pandemic, which led to a deep recession and worsened fiscal and external positions from already weak levels. The opposition People's United Party won the November 2020 elections by a wide margin, which gives the new government a unique opportunity to jump...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012604044

Currency Pegs, Trade Imbalances and Unemployment : A Reevaluation of the China Shock

Kim, Bumsoo; De la Barrea, Marc; Fukui, Masao - 2026

We develop a dynamic quantitative model of trade and labor adjustment, incorporating nominal wage rigidity and consumption-saving decisions, to study how China's currency peg interacted with its rapid growth in shaping the US economy. We show that the peg temporarily boosts China's export growth...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611128

Banking in the GCC : Structure, Performance and Transformation

Bakhouche, Abderazak - 2026

Chapter 1: Introduction to the Book -- Chapter 2: Characteristics of the GCC economies -- Chapter 3: Financial development, diversification and resource curse in GCC -- Chapter 4: Competition in GCC banking systems -- Chapter 5: Profitability in GCC banking systems -- Chapter 6: Impact of ESG on...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652009

The Danish problem

Eichengreen, Barry - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014388704

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The Danish problem

Eichengreen, Barry - 2023

Book / Working Paper

The Danish problem

Eichengreen, Barry - 2023

Book / Working Paper

Optimal policy under dollar pricing

Egorov, Konstantin; Mukhin, Dmitry - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014317361

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Optimal policy under dollar pricing

Egorov, Konstantin; Mukhin, Dmitry - 2023

Book / Working Paper

Optimal policy under dollar pricing

Egorov, Konstantin; Mukhin, Dmitry - 2021

Book / Working Paper

Optimal policy under dollar pricing

Egorov, Konstantin; Mukhin, Dmitry - 2020

Book / Working Paper

Optimal policy under dollar pricing

Egorov, Konstantin; Mukhin, Dmitry - 2020

Book / Working Paper

Optimal Policy Under Dollar Pricing

Egorov, Konstantin - 2020

Book / Working Paper

Optimal Policy under Dollar Pricing

Egorov, Konstantin - 2020

Book / Working Paper

The Foreign Exchange Policy of China – Is the Country a “Currency Manipulator”?

Zhelev, Paskal - 2023

China’s exchange rate policy has been one of the most contentious economic issues in present times. The large open economy with a state-led development model has been often accused of deliberately keeping its currency undervalued, thereby conferring unfair competitive advantages to its...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014256660

Exchange Rate Pass-Through in the Presence of Parallel Markets

Oki, Toni - 2023

Prior studies document the puzzle of limited retail price inflation following large exchange rate devaluations in emerging market and developing countries. This paper offers another partial solution to this puzzle: the presence of a significant parallel market. Using data from Nigeria, I find...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014347113

Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia

Kass-Hanna, Tannous - 2023

Empirical (employing the Blanchard-Perotti framework) and modeling (using a country-specific DSGE model) approaches are used to estimate fiscal multipliers by policy instrument for Bolivia, to evaluate possible adjustments in a fiscal consolidation strategy. Multipliers are also estimated using...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015058920

Digital euro : potential implications for payments, fixed exchange rate policy and financial stability in Denmark

Kidd, Gregory; Seixas, Julia Weismann; Holm, Lasse; … - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014552942

A Move Toward a ‘Crawling Peg’ Exchange Rate System in 2023

Oyadeyi, Olajide - 2023

As of the last working day of the year 2022 (30th December 2022), the official exchange rate against the US dollar (USD) was 448, while the naira USD exchange rate at the black market traded at 748—a premium of 300. The dollar had already peaked above 800 on the black market during the year...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014346431

Perceived Macroeconomic Uncertainty and Exchange Rate Movements

Lu, Bin; Xie, Lijuan; Xu, Xiangyun; Yu, Cong - 2023

This paper proposes a theoretical model that combines a present value model of the exchange rate with a variance-belief formation model to investigate the relationship between macroeconomic uncertainty and the exchange rate. The model emphasizes the risk premium as its core and incorporates...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014346695

Monetary policy determination under a fixed-exchange rate regime in a common monetary area (CMA) : the case of Eswatini

Ndzinisa, Patrick; Dlamini, Bongani - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015574369

One good reason we were optimistic : the rise of inflation targeting and the demise of fixed exchange rate crises

Rose, Andrew - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014229924

Review of past, present and possible future exchange rate regimes

Hallwood, Paul - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015485878

How Credible is Hong Kong's Currency Peg?

Jermann, Urban J.; Wei, Bin; Yue, Vivian Z. - 2025

This paper develops an asset-pricing model to evaluate the credibility of Hong Kong's Linked Exchange Rate System (LERS). Allowing for imperfect peg credibility, we derive closed-form solutions for exchange rates and option prices under potential regime shifts. Using HKD option data, we estimate...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015464468

Interest rate and endogenous money under capital mobility and fixed exchange rate : alternative closures and implications

Dasgupta, Zico - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015472106

The macroeconomic consequences of exchange rate depreciations

Fukui, Masao; Nakamura, Emi; Jón Steinsson - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613776

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The Macroeconomic Consequences of Exchange Rate Depreciations

Fukui, Masao; Nakamura, Emi; Jón Steinsson - 2023

Book / Working Paper

Pegged exchange rate regime and its impact on inflation in BRICS nations : country-wise evidence

G, Babu Rao - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015552756

International reserves, economic crisis and monetary autonomy in Asia : a panel data analysis

Dong, Fang; Marquis, William - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015583111

Currencies in turbulence : exploring the impact of natural disasters on exchange rates

Anh Thi Ngoc Nguyen; Nguyen, Ha - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015573416

Mussa puzzle redux

Itskhoki, Oleg; Mukhin, Dmitry - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015401136

Money demand under a fixed exchange rate regime : the case of Saudi Arabia

Hasanov, Fakhri J.; Al Rasasi, Moayad; Alsayaary, Salah S. - 2022

This paper reviews earlier studies and shows that the money demand (MD) relationship under a fixed exchange rate (ER) regime differs from that under a floating ER regime, mainly due to the limited role of monetary policy in the former regime. It then empirically demonstrates that an open-economy...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013176694

Fixed exchange rates as a means to price stability : what have we learned?

Svensson, Lars E. O. - 1994

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012802861

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Fixed exchange rates as a means to price stability : what have we learned?

Svensson, Lars E. O. - 1993

Book / Working Paper

Fixed Exchange Rates as a Means to Price Stability : What Have We Learned

Svensson, Lars E. O. - 2022

Book / Working Paper

Fixed exchange rates as a means to price stability : what have we learned?

Svensson, Lars E. O. - 1994

Book / Working Paper

Fixed Exchange Rates as a Means to Price Stability : What Have We Learned

Svensson, Lars E.O. - 1993

Book / Working Paper

Fixed exchange rates as a means to price stability : what have we learned?

Svensson, Lars E. O. - 1993

Book / Working Paper

Can a Rapidly-Growing Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era

Eichengreen, Barry; Hatase, Mariko - 2022

We explore the parallels between Japanese currency policy after World War II and Chinese currency policy today. After two decades of pegging at 360 yen, Japan decoupled from the dollar on August 1971 and then repegged at a revalued rate of 308 yen. After stabilizing the exchange rate at this new...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013324585

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Can a Rapidly-Growing Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era

Eichengreen, Barry - 2005

Book / Working Paper

Output divergence in fixed exchange rate regimes : is the euro area growing apart?

Chen, Yao; Ward, Felix - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013539492

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Output divergence in fixed exchange rate regimes : is the euro area growing apart?

Chen, Yao; Ward, Felix - 2022 - This version: April 2022

Edition: This version: April 2022

Book / Working Paper

Output Divergence in Fixed Exchange Rate Regimes : Is the Euro Area Growing Apart?

Chen, Yao; Ward, Felix - 2022

Book / Working Paper

Causal effects of countercyclical interest rates : evidence from the classical gold standard

Mitchener, Kris; Pina, Gonçalo - 2022

We estimate the causal impact of countercyclical interest rates on macroeconomic outcomes in open economies. To identify countercyclical interest rates, we construct a new database of short-term interest rates, principal exports, and international commodity prices for 40 economies from 1870 to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013183777

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Causal Effects of Countercyclical Interest Rates : Evidence from the Classical Gold Standard

Mitchener, Kris; Pina, Gonçalo - 2022

Book / Working Paper

Causal effects of countercyclical interest rates : evidence from the classical gold standard

Mitchener, Kris; Pina, Gonçalo - 2022

Book / Working Paper

Causal Effects of Countercyclical Interest Rates : Evidence from the Classical Gold Standard

Mitchener, Kris; Pina, Gonçalo - 2022

Book / Working Paper

International risk-sharing and the exchange rate : re-evaluating the case for flexible exchange rates

Devereux, Michael B. - 2001

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015584901

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International risk-sharing and the exchange rate : re-evaluating the case for flexible exchange rates

Devereux, Michael B. - 2001

Book / Working Paper

International Risk-Sharing and the Exchange Rate : Re-Evaluating the Case for Flexible Exchange Rates

Devereux, Michael B. - 2022

Book / Working Paper

The 2008 financial crises in the Baltic countries

Baudino, Patrizia; Lielkalne, Olga; Reichenbachas, Tomas; … - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013477178

Going Dutch : monetary policy in the Netherlands during the interwar gold standard : 1925-1936

Fliers, Philip; Colvin, Christopher L. - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013428905

Debt and taxes: optimal fiscal consolidation in the small open economy

Rondón-Moreno, Carlos - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013281270

The trade/GDP ratio as a measure of openness

Bleaney, Michael F.; Tian, Mo - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013254428

Determinants of De Jure : de facto exchange rate regime gaps

Dudzich, Viktar - 2022

This paper investigates inconsistencies between countries' official exchange rate regime declarations (the so-called de jure exchange rate regimes) and their actual policy (de facto exchange rate regimes). These exchange rate regime gaps decrease the credibility of monetary policy and are...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012805976

Fix vs. float : evaluating the transition to a sustainable equilibrium in Bolivia

González, Andrés; Jafarov, Etibar; Rodríguez, Diego; … - 2022

Bolivia has achieved noteworthy success over the past 15 years in raising incomes, reducing poverty, and maintaining macroeconomic stability by deploying commodity revenues to finance transfers, public investment, and state-led development, using an exchange rate peg as a policy anchor. However,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013170086

Leverage and Stablecoin Pegs

Gorton, Gary; Klee, Elizabeth; Ross, Chase P.; Ross, … - 2022

Money is debt that circulates with no questions asked. Stablecoins are a new form of private money that circulate with many questions asked. We show how stablecoins can maintain a constant price even though they face run risk and pay no interest. Stablecoin holders are indirectly compensated for...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013477289

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