Results 11 to 20 of about 67 (66)
Exchange-rate discounting [PDF]
Journal of International Money and Finance, 1995 Abstract Economists often describe nominal exchange rates as forward-looking, so that they reflect discounted, expected, future fundamentals. This study applies a method for identifying the discount rate involved, without knowing or measuring fundamentals.
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Exchange rates and oligopoly [PDF]
European Economic Review, 1999 Abstract The purpose of this paper is to explain empirical observations concerning the impact of exchange rate changes on industrial prices. As exchange rates change the pass-through into industrial prices is often incomplete and sometimes it goes into the `wrong' direction, i.e.
HENS, Thorsten +3 more
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, 1985 The foreign exchange rate is a price—the price at which one country’s currency exchanges on the international market for another country’s. As such, it is determined by demand and supply—the amount of that currency being wanted and the amount of it being offered for sale.
J. Harvey, M. K. Johnson
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, 1998 Nominal exchange risk is a ubiquitous factor in international economic policy analysis. For example, sudden appreciations of the dollar following financial crises outside the United States often are ascribed to “safe haven” portfolio shifts. The elimination of national currencies in Europe has been rationalized in part by the claim that uncertain ...
Maurice Obstfeld, Kenneth Rogoff
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Democratization and Real Exchange Rates, [PDF]
Scottish Journal of Political Economy, 2012 AbstractIn this article, we combine two so far separate strands of the economic literature and argue that democratization leads to a real exchange rate appreciation. We test this hypothesis empirically for a sample of countries observed from 1980 to 2007 by combining a difference‐in‐difference approach with propensity score matching estimators.
Bob Krebs +4 more
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On the Determinants of Exchange Rate Misalignments [PDF]
SSRN Electronic Journal, 2013 The literature on exchange rate misalignments is very extensive as well as the literature on exchange rate determinants. To our knowledge, however, no study has analyzed the determinants of exchange rate misalignments. As huge capital inflows have been pouring into emerging countries since the climax of the crisis, exchange rate misalignments are ...
Saadaoui, Jamel +2 more
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Bilateral Exchange Rates and Jobs [PDF]
Review of International Economics, 2013 AbstractWe study the labor market effects of realignment in fixed bilateral exchange rates, such as China's peg to the US dollar. We employ the open economy model by de Melo and Robinson to identify the core parameters of the real, trade side of the economy driving the unemployment effects of bilateral exchange rate realignment.
Bekkers, Eddy, Francois, Joseph
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Exchange Rate Risk and the Macroeconomics of Exchange Rate Determination [PDF]
, 1980 This chapter addresses the question of what contribution finance theory can make to an explanation of exchange rate movements. It is an attempt to integrate ideas of finance theory such as portfolio diversification, efficiency, rationality,and use of information in a reasonably eclectic macroeconomic model and to study in that broadened context the ...
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Exchange-Rate Exposure of Multinationals: Focusing on Exchange- Rate Issues [PDF]
SSRN Electronic Journal, 2001 This paper examines exchange-rate exposure of multinationals (MNEs) in light of detailed exchange rate data. Specifically, using MNE-specific exchange rates and accounting for the possibility that exchange-rate crises may impact a firm differently than periods of normal fluctuations, estimates suggest ¼ of all MNEs had significant exchange rate ...
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Capital flows, exchange rate flexibility, and the real exchange rate
Journal of Macroeconomics, 2011 This paper analyzes the impact of capital inflows and exchange rate flexibility on the real exchange rate in developing countries based on panel cointegration techniques. The results show that public and private flows are associated with a real exchange rate appreciation.
Jean-Louis Combes +2 more
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