Search Results - subject_exact:"Flexibler Wechselkurs"

Currencies come and go, but employment always takes root : rethinking external constraints and monetary sovereignty in the periphery

Cruz Hidalgo, Esteban; Medina-Miltimore, Stuart; Mario, … - 2025

This paper explores a development strategy for peripheral economies by advocating for a paradigm shift from traditional economic models that rely on accumulating foreign reserves. It proposes the job guarantee (JG) policy, an automatic stabilizer based on a reserve pool of employed individuals,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015206930

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Currencies come and go, but employment always takes root : rethinking external constraints and monetary sovereignty in the periphery

Cruz Hidalgo, Esteban; Medina-Miltimore, Stuart; Mario, … - 2025

Book / Working Paper

Cyclicality of international reserves, exchange rate flexibility, and output volatility

Fujii, Eiji; Qian, Xingwang - 2025

This paper investigates the cyclicality of international reserves and their role in macroeconomic stabilization. We challenge two widely held assumptions: (1) central banks typically manage IR counter-cyclically—accumulating reserves during booms and drawing them down during downturns; and (2)...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015371901

Monetary policy adjustments in Mexico during COVID-19 : fear of floating and macroeconomic volatility

López-Mares, Jesús Eduardo; Ocegueda Hernández, Juan … - 2025

The aim of this paper is to investigate how the central bank of Mexico - a prototypical emerging market economy (EME) - adjusted its reaction coefficients according to an estimated Taylor-type rule in response to the COVID-19 pandemic and the posterior surge in inflation. To do so, we estimate a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015338857

Heterogeneous responses to monetary policy : the role of floating rate loans

Kerola, Eeva; Laine, Olli-Matti; Paavola, Aleksi - 2025 - This version: August 2025

This study examines the floating rate channel-a mechanism through which monetary policy affects firms' investment and credit demand based on their exposure to variable rate loans. Using a granular loan-level dataset from the euro area, we find that firms with variable rate loans significantly...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015448571

Lebanon's eventual transition to a floating exchange rate system : balancing flexibility with stability

Sassine, Roudy - 2025

Lebanon's longstanding fixed exchange rate regime collapsed in the wake of the country's 2019 financial crisis. This paper examines the underlying causes of the collapse, offering a new policy framework based on a floating exchange rate system and detailing its superior qualities. However, the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015462462

Cross-country dependence and financial integration in the last 150 years

Aslanidis, Nektarios; Papadakis, Charalampos - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672362

Capital flows and exchange rates : a quantitative assessment of the dilemma hypothesis

Cesa-Bianchi, Ambrogio; Ferrero, Andrea; Li, Shangshang - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016064649

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Capital flows and exchange rates : a quantitative assessment of the dilemma hypothesis

Cesa-Bianchi, Ambrogio; Ferrero, Andrea; Li, Shangshang - 2024

Book / Working Paper

Open-economy macroeconomics with financial frictions : a simple model with flexible exchange rates

Agénor, Pierre-Richard - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015083440

Parallel currencies under free floating exchange rates : a model setting out the conditions for stable currency competition

Castañeda, Juan E.; Damrich, Sebastian; Schwartz, Pedro - 2024

We use a theoretical model to set up the conditions for a country to attain monetary stability by allowing for two freely tradable currencies to circulate in parallel. For this parallel system to function properly, confidence in the good behavior of the monetary authorities in charge of the two...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015197663

The importance of sound monetary policy : some lessons for today from Canada's experience with floating exchange rates since 1950

Bordo, Michael D.; Siklos, Pierre L. - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014580968

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The Importance of Sound Monetary Policy : Some Lessons for Today from Canada's Experience with Floating Exchange Rates Since 1950

Bordo, Michael D.; Siklos, Pierre L. - 2023

Book / Working Paper

A theory of fear of floating

Bianchi, Javier; Coulibaly, Louphou - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015561056

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A theory of fear of floating

Bianchi, Javier; Coulibaly, Louphou - 2023

Book / Working Paper

A Theory of Fear of Floating

Bianchi, Javier; Coulibaly, Louphou - 2023

Book / Working Paper

Fear (No More) of Floating : Asset Purchases and Exchange Rate Dynamics

Mimir, Yasin; Sunel, Enes - 2023

We provide a theory on currency dynamics, capital flows and conditions for emerging market economy central bank asset purchases to leave room for manoeuvre for conventional monetary policy. Local-currency asset purchases ease financial conditions and boost banks’ foreign borrowing capacity....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014353979

Monetary Policy Independence Under Floating Exchange Rates : Some Pleasant Results

Guender, Alfred V. - 2023

Under a floating exchange rate and integrated financial markets an optimizing central bank acting under discretion to achieve domestic objectives generates a positive co-movement between the domestic and the foreign interest rate in a small open economy. A high degree of positive co-movement...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014356983

Flexible exchange rate regimes in emerging markets : current insights and avenues for future research

Nouhaila, Moutaib; Younès, Lahrichi - 2023

Purpose: Providing a structured literature review on the flexiblization of exchange rate regime in emerging countries with a focus on recent studies conducted in the field, in order to identify promising opportunities of future research. Design/methodology/approach: Starting with a review of the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014490550

Fifty years on : what the Bretton Woods system can teach us about global macroeconomic policy-making

Subacchi, Paola; Vines, David - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014317075

From the Bretton Woods system to the global non-system : the trials and tribulations of slow learning

Vines, David; Subacchi, Paola - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014317080

Fallacy of floating? : reconsidering the ability of flexible exchange rates to offset terms-of-trade volatility in developing countries

Popescu, Ioana Octavia - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014266937

Monetary union, asymmetric recession, and exit

Keuschnigg, Christian; Kirschner, Linda; Kogler, Michael; … - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014431053

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Monetary union, asymmetric recession, and exit

Keuschnigg, Christian; Kirschner, Linda; Kogler, Michael; … - 2022

Book / Working Paper

Impact of floating exchange rate on the output, export and employment in the South African beef industry

Thaba, Kingsley; Hlongwane, Jan; Belete, Abenet; … - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014373632

Goyal, Ashima - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014440052

Bank credit, portfolio selection, and macrodynamics in a small open economy

Watanabe, Toshio - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015474191

Export-led decay : the trade channel in the gold standard era

Candia, Bernardo; Pedemonte, Mathieu - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015457624

Heterogeneity in the nominal exchange rate response to oil price shocks in oil-exporting countries : a new episode of the "fear of floating"?

Rueda-Lobato, Daniel; Torres, Alejandro - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015444908

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

Mechanisms of exchange rate determination in the soft and hard managed floating regime : the case of Serbia

Beker Pucar, Emilija; Glavaški, Olgica - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015550471

Credibility is not enough : fiscal monetization and currency depreciation in early-modern Venice

Masciandaro, Donato; Romelli, Davide; Ugolini, Stefano - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015579034

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

Optimal trend inflation in an open economy

Cho, Daeha; Kim, Jung Hyun; Kim, Kwang Hwan; Kim, Suk Joon - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015560618

Israel's transition to inflation targeting and exchange rate flexibility : key lessons

Bufman, Gil; Leiderman, Leonardo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676355

Do flexible exchange rates matter for monetary autonomy?

Oueghlissi, Rim; Ho, Sy Hoa; Tuan Nguyen-Anh - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015515638

Macroeconomic policy under a managed floating exchange rate regime: a critical appraisal of the International Currency Hierarchy literature

Deos, Simone Silva de; Gerioni, Enzo - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013174325

International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates : A Review of Recent Evidence

Cumby, Robert; Obstfeld, Maurice - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013309361

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International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates : A Review of Recent Evidence

Cumby, Robert E. - 1982

Book / Working Paper

Monetary Policy Under Exchange Rate Flexibility

Dornbusch, Rudiger - 2022

The continuing depreciation of the dollar stands out as one of the big policy issues. It has started to impinge on U.S. monetary policy; it influences the chances for international commercial diplomacy, and it is enhancing the move toward European monetary integration. Above all it leaves most...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013322147

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Monetary Policy Under Exchange Rate Flexibility

Dornbusch, Rudiger - 1979

Book / Working Paper

Fear of Floating

Calvo, Guillermo; Reinhart, Carmen M. - 2022

In recent years, many countries have suffered severe financial crises, producing a staggering toll on their economies, particularly in emerging markets. One view blames fixed exchange rates-- soft pegs'--for these meltdowns. Adherents to that view advise countries to allow their currency to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013322298

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Fear of Floating

Calvo, Guillermo A. - 2000

Book / Working Paper

The great exchange rate debate after Argentina

Edwards, Sebastian - 2002

Persistent link: https://ebvufind01.dmz1.zbw.eu/10001704637

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The great exchange rate debate after Argentina

Edwards, Sebastian - 2002

Book / Working Paper

The Great Exchange Rate Debate after Argentina

Edwards, Sebastian - 2022

Book / Working Paper

The Great Exchange Rate Debate After Argentina

Edwards, Sebastian - 2002

Book / Working Paper

International Reserves Under Alternative Exchange Rate Regimes and Aspects of the Economics of Managed Float

Frenkel, Jacob A. - 2022

This paper contains an analysis of the role of international reserves under a regime of pegged exchange rates and under a regime of managed floating. It presents evidence on the stability of the demand for reserves during the periods 1963-72 and 1973-75. It is shown that the demand for reserves...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013324089

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International Reserves Under Alternative Exchange Rate Regimes and Aspects of The Economics of Managed Float

Frenkel, Jacob A. - 1978

Book / Working Paper

Fixed vs. Floating Exchange Rates : How Price Setting Affects the Optimal Choice of Exchange-Rate Regime

Devereux, Michael B.; Engel, Charles - 2022

We investigate the welfare properties of fixed and floating exchange rate regimes in a two-country, dynamic, infinite-horizon model with agents optimizing in an environment of uncertainty created by monetary shocks. The optimal exchange rate regime may depend on whether prices are set in the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013324601

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Fixed vs. Floating Exchange Rates : How Price Setting Affects the Optimal Choice of Exchange-Rate Regime

Devereux, Michael B.; Engel, Charles - 1999

Book / Working Paper

Fixed vs. Floating Exchange Rates : How Price Setting Affects the Optimal Choice of Exchange-Rate Regime

Devereux, Michael B. - 1998

Book / Working Paper

Fear (No More) of Floating : Asset Purchases and Exchange Rate Dynamics

Sunel, Enes; Mimir, Yasin - 2022

We provide a theory on currency dynamics, capital flows and conditions for central bank asset purchases to leave room for manoeuvre on conventional monetary policy. Asset purchases ease financial conditions and boost banks’ foreign borrowing capacity. The ensuing capital inflows lead to an...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013291717

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/10013423563

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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

International Trade, Indebtedness, and Welfare Repercussions Among Supply-Constrained Economies Under Floating Exchange Rates

Hool, Bryce; Richardson, John David - 2022

Almost all developed economies at some time during the 1970s seemed supply-constrained. Even much of measured excess capacity was arguably redundant due to energy price shocks, environmental policy, and other structural flux of the 1970s. Little analytical work has been carried out on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013295286

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International Trade, Indebtedness, and Welfare Repercussions among Supply-Constrained Economies under Floating Exchange Rates

Hool, Bryce - 1980

Book / Working Paper

Analyzing exchange market pressure dynamics with Markov regime switching : the case of Turkey

İlhan, Ali; Akdeniz, Coşkun; Özdemir, Metin - 2022

This study analyzes the dynamics of exchange market pressure in Turkey by employing the Markov regime switching model for the period from January 2006 to December 2019. Our findings show that there are two regimes in the foreign exchange market, characterized as low- and high-pressure periods....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013279667

L'île Flottante : Ivory Coast's eco-friendly sustainable floating island resort

Ahmed, Jashim Uddin; Islam, Quazi Tafsirul; Ahmed, Asma; … - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013357158

Identifying Algeria's de facto exchange rate regime : a wavelet-based approach

Chekouri, Sidi Mohammed; Chibi, Abderrahim; … - 2022

The Central Bank of Algeria has announced a managed float of the Algerian dinar since 1994. Yet, there are some substantial differences between various de facto classifications of Algeria's exchange rate regime. This study looks into the exchange rate regime of Algeria, aiming to identify de...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013459600

Política cambiaria e intervenciones en el marco de metas de inflación del Banco Central de Chile

García, Pablo - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013448823

Monetary policy independence under a flexible exchange rate regime : the Indian case

Grewal, Harpreet Singh; Trivedi, Pushpa L. - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013402160

The trade/GDP ratio as a measure of openness

Bleaney, Michael F.; Tian, Mo - 2022

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

Exchange Rate Pass-Through in Brazil : A Markov Switching DSGE Estimation for the Inflation Targeting Period

Almeida Marodin, Fabrizio; Savino Portugal, Marcelo - 2022

This paper investigates the nonlinearity of exchange rate pass-through in the Brazilian economy during the floating exchange rate period (2000-2018) using a Markov-switching new Keynesian DSGE model. We find evidence of two distinct regimes for the exchange rate pass-through and for the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013307501

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