Beliefs about Exchange-Rate Stability: Survey Evidence From the Currency Board in Bulgaria [PDF]
We use unique survey data from Bulgaria’s currency board to examine the reasons for persistent incomplete credibility of a financial stabilization regime.
Neven T. Valev, John A. Carlson
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Exchange Rate Regimes and Economic Linkages [PDF]
We investigate how the exchange rate regime influences economic linkages across countries. We divide the exchange rate regime into three classifications: currency union, peg and floating exchange rates.
Jong-Wha Lee, Kwanho Shin
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The Russian Currency Basket: The Rising Role of the Euro for Russia’s Exchange Rate Policies [PDF]
In 2005, the Bank of Russia has made three announcements that indicate an increasing role for the euro in the Russian exchange rate strategy. On February 4 2005 the Bank of Russia announced that it has started to stabilize the daily volatilities of the ...
Gunther Schnabl
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Risk Premiums, Market Volatility, and Exchange Rate Dynamics: Evidence from the Yen Carry Trade
RisksPersistent deviations from Uncovered Interest Rate Parity (UIRP) represent a central puzzle in international finance and a key source of currency risk for global investors.
Opale Guyot +2 more
doaj +1 more source
Asian Currency Baskets: An Answer in Search of a Question? [PDF]
This paper considers how a regional currency basket and the associated divergence indicators could be used in official surveillance. Recently, proponents of Asian currency baskets have referred to the role the ECU played in constructing exchange rate ...
Hwee Kwan Chow
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Exchange Rate Volatility and Optimum Currency Area: Evidence from Africa [PDF]
In this paper we use a system of simultaneous equations and Generalized Method of Moment (GMM) to investigate the relation between bilateral exchange rate volatility and the relevant variables pointed out by the theory of optimum currency areas (OCA) for
Chrysost Bangaké
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Assessing Co-ordinated Asian Exchange Rate Regimes [PDF]
This study assesses alternative Asian exchange rate regimes and finds short- and long-run currency dynamics more conducive to the possibility of introducing a common peg based on a basket of the European euro, the United States dollar and the Japanese ...
Raj Aggarwal, Cal B. Muckley
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How External Shocks and Exchange Rate Depreciations Affect Pakistan? Implications for Choice of an Exchange Rate Regime [PDF]
A structural vector autoregression (VAR) model shows that external shocks are important in driving economic fluctuations in Pakistan and their importance has increased since September 11, 2001. The primary source of external shocks is foreign remittances,
Ahmed, Shaghil, Hyder, Kalim, Ara, Iffat
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Currency Networks, Bilateral Exchange Rate Volatility and the Role of the US Dollar [PDF]
We investigate monthly bilateral exchange rate volatility for a large sample of currency pairs over the period 1999-2006. Pegs (particularly to the US dollar) and managed floats tend to have lower volatility than independent floats.
Mo Tian, Michael Bleaney
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The modern history of exchange rate arrangements: A reinterpretation [PDF]
We develop a novel system of reclassifying historical exchange rate regimes. One key difference between our study and previous classifications is that we employ monthly data on market-determined parallel exchange rates going back to 1946 for 153 ...
Rogoff, Kenneth, Reinhart, Carmen
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