Download or read book Essays in exchange rate volatility and international trade exchange rate volatility and stock returns for the United States and Turkey and political corruption written by Fuat Sekmen and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Exchange Rate Volatility and International Trade Exchange Rate Volatility and Stock Returns for the U S and Turkey and Political Corruption written by Fuat Sekman and published by . This book was released on 2004 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in International Trade Exchange Rate Volatility and Asset Market Structure written by Anne Marjaana Mikkola and published by . This book was released on 1995 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility and Trade Flows Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Essays on Real Exchange Rate Volatility and Openness in International Trade written by Abelardo Salazar Neaves and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This work comprises five chapters that explore in detail issues related to real exchange rate volatility and trade openness. In the case of real exchange rate volatility, we start with the decomposition of this measure to determine the relative contribution of traded and nontraded goods to the variance of the real exchange rate. We obtain evidence in favour of a relevant role for non-traded goods. Our estimation of the real exchange rate volatility is included in the second chapter. Our results, based on a cross-section regression, show that the existing link of openness to real exchange rate volatility is weaker when we control for imposed and natural trade barriers. At the same time we are able to obtain a relationship between inflation volatility and the variation of the real exchange rate. Chapters three and four are related to our real exchange rate volatility model. We decide to obtain a specication for openness that could help us explore in detail the idea of country characteristics aecting trade flows. Our rst approach considers a cross-section estimation to identify the factors that consistently aect trade openness. The second approach considers a more dynamic specication. We are able to establish a link between country characteristics and trade openness. At the same time our results capture interesting changes in the eects of the dependent variables on openness across time. The final chapter takes us back to the analysis of real exchange rate volatility. In this case, we explore which measure is the most appropriate amongst those calculated from series in levels and the ones in first dierences. We conclude that series that do not show less stationary behaviour require longer time series (more observations) in order to display results that close to the reference value.
Download or read book A New Look at Exchange Rate Volatility and Trade Flows written by Peter Barton Clark and published by Occasional Papers. This book was released on 2004 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s and increasing cross-border capital flows, may have exacerbated exchange rate volatility, while others, such as a deepening of the market in foreign exchange hedging instruments, may have reduced the impact of volatility on trade flows. Using recent advances in the economic theories on trade and in statistical methodologies, this paper revisits this important issue by taking into account these new developments and examining their effects on developing and transition economies, as well as on developed countries.
Download or read book Exchange Rate Volatility Pricing to Market and Trade Smoothing written by Peter B. Clark and published by International Monetary Fund. This book was released on 1997-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
Download or read book Essays on Exchange Rate Volatility written by Nikolaos Antonakakis and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis explores a number of aspects of time series modelling of exchange rate volatility. After having reviewed the main modelling approaches used in the existing literature, the first key chapter investigates the best models for forecasting the volatility of daily exchange rate returns for a number of countries, including new results for a selection of developing countries. The superior performance of the FIGARCH model, noted in the recent literature, is confirmed in the case of industrialised countries, but the MARCH model results in substantial gains in insample estimation and out-of-sample forecasting performance when dealing with developing countries. The next essay investigates exchange rate volatility co-movements and spillovers before and after the launch of the Euro. This study has the advantage of a longer sample period than the most comparable papers. Key results are that the dominance of the Deutschemark in volatility transmission was succeeded by the dominance of the Euro following its launch, in that both exert unidirectional and persistent spillovers on the sterling, the Swiss franc and the Japanese yen. Further, there is evidence of greater stability in financial markets after the launch of the Euro in that conditional variances, covariances and correlations in exchange rate returns declined significantly. Finally the thesis turns to assessing the impact of official central bank interventions (CB1s) on exchange rate returns, their volatility and bilateral correlations. By exploiting the recent publication of intervention data by the Bank of England, this study is able to investigate interventions by a total number of four central banks, while the previous studies have been limited to three (the Federal Reserve, Bundesbank and Bank of Japan). The results of the existing literature are reappraised and refined. In particular, unilateral CBI is found to be more successful than coordinated CBI. The likely implications of these findings are then discussed.
Download or read book Exchange Rate Volatility Trade and Capital Flows under Alternative Exchange Rate Regimes written by Piet Sercu and published by Cambridge University Press. This book was released on 2000-06-19 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have seen a substantial increase in the volatility of exchange rates. This trend has prompted economists and finance analysts to question if the observed behavior of exchange rates is consistent with a rational model. Does that volatility, further, hinder trade? Professors Sercu and Uppal examine these issues in the context of dynamic general equilibrium models, explicitly considering the role of financial markets while allowing for commodity markets to be segmented across countries. They show that the implications of the theoretical model for exchange rates in this context are quite different from those put forth by monetary theorists and proponents of purchasing power parity arguments.
Download or read book Turkish Lira A Fiat Currency that Resembles the Volatility of Cryptocurrencies written by John Taskinsoy and published by . This book was released on 2019 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dollar's dominance as the world's reserve currency was inaugurated at the 1944 Bretton Woods conference where the agreement was signed by the 44 wartime allies, but the dollar's hegemony was solidified in 1971 when US President Nixon cut the dollar's link to gold. True, the fixed exchange rate regime reminiscence of the Bretton Woods is no longer with us; and also true that the two watchdog institutions created in 1944 are still around permitting and encouraging but almost compelling world inflation. We are now faced with a dilemma that begs for a solution; the Bretton Woods system and its successor the dollar regime after 1971 created a system of economic slavery in which all countries are serving to keep the United States of America happy. The inevitable birth of Bitcoin is the upshot of this dilemma and the most recent devaluation of the Turkish lira is an unescapable consequence that unmistakably demonstrated exactly what happens when the U.S. demands are not satisfied. The U.S. dollar continues to rule both international trade and foreign exchange markets; today, circa 90% of daily forex trading volume is dollar denominated plus half of the world's 185 currencies are in a tight trading range to the dollar. Since the late 1990s, the United States' growing abuse of sanction power via the dollar tool has reemerged the interest in search for a viable alternative to the U.S. dollar.
Download or read book Exchange Rate Volatility and Trade Flows written by Oktay Öksüzler and published by . This book was released on 2003 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility International Trade and the Value of Exporting Firms written by Piet Sercu and published by . This book was released on 1990 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility and International Trade written by Mehmet Nihat Solakoglu and published by . This book was released on 2000 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility and Trade written by Agathe Cote and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an extensive survey of the literature on exchange rate volatility and trade, examining both the theory that underlies the work in this area and the results of empirical studies published since 1988. Despite the widespread view that an increase in volatility will reduce the level of trade, this review reveals that the effects of volatility are ambiguous. There is no real consensus on either the direction or the size of the exchange rate volatility - trade level relationship. Overall, a larger number of studies finds that volatility tends to reduce the level of trade, but when the effect is measured, it is found to be relatively small. Several reasons can explain this tenuous relationship: (i) even for risk-averse businesses, an increase in risk does not necessarily lead to a reduction in the risky activity, (ii) the availability of hedging techniques makes it possible for traders to avoid most of exchange risk at little cost, (iii) exchange rate volatility may actually offset some other forms of business risk, and (iv) exchange rate volatility can create profitable trading and investment opportunities.
Download or read book Essays on Expectations and Exchange Rate Volatility written by Kenneth Saul Rogoff and published by . This book was released on 1979 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Volatility of Exchange Rates and International Trade written by Sujit Kanti Das and published by . This book was released on 2004 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Exchange Rate Volatility on International Trade written by Jaspreet K. Dillon and published by . This book was released on 2001 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
