Author: Christian Pierdzioch
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
Book Description
Noise Trading and the Effects of Monetary Policy Shocks on Nominal and Real Exchange Rates
Real Exchange Rate Effects of Monetary Shocks Under Fixed and Flexible Exchange Rates
Author: Reuven Glick
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 100
Book Description
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 100
Book Description
Noise Trading and Exchange Rate Regimes
Author: Olivier Jeanne
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 50
Book Description
Both the literature and new empirical evidence show that exchange rate regimes differ primarily by the noisiness of the exchange rate, not be measurable macroeconomic fundamentals. This motivates a theoretical analysis of exchange rate regimes with noise traders. The presence of noise traders can lead to multiple equilibria in the foreign exchange market. The entry of noise traders both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used to lower exchange rate volatility without altering macroeconomic fundamentals.
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 50
Book Description
Both the literature and new empirical evidence show that exchange rate regimes differ primarily by the noisiness of the exchange rate, not be measurable macroeconomic fundamentals. This motivates a theoretical analysis of exchange rate regimes with noise traders. The presence of noise traders can lead to multiple equilibria in the foreign exchange market. The entry of noise traders both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used to lower exchange rate volatility without altering macroeconomic fundamentals.
Noisy Financial Signals and Persistent Effects of Nominal Shocks in Open Economies
Author: Torben M. Andersen
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 54
Book Description
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 54
Book Description
Monetary Shocks and Real Exchange Rates
Author: John H. Rogers
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 62
Book Description
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 62
Book Description
The Effects of Monetary Policy Shocks on Exchange Rates
Author: Kyungho Jang
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 33
Book Description
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 33
Book Description
Exchange Rate Volatility and Trade Flows--Some New Evidence
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
Book Description
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Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
Book Description
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Real Exchange Rate Targeting Under Imperfect Asset Substitutability
Author: José Saúl Lizondo
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 38
Book Description
This paper presents a model of an economy that uses nominal exchange rate policy to keep the real exchange rate constant at a certain target level, under imperfect asset substitutability. The paper discusses the determinants of inflation under such a policy, and examines the consequences of exogenous and policy-induced shocks on inflation, the external accounts, and the fiscal accounts. The shocks considered include changes in the real exchange rate target, changes in fiscal policy, changes in foreign interest rates, and open market sales of public sector domestic bonds.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 38
Book Description
This paper presents a model of an economy that uses nominal exchange rate policy to keep the real exchange rate constant at a certain target level, under imperfect asset substitutability. The paper discusses the determinants of inflation under such a policy, and examines the consequences of exogenous and policy-induced shocks on inflation, the external accounts, and the fiscal accounts. The shocks considered include changes in the real exchange rate target, changes in fiscal policy, changes in foreign interest rates, and open market sales of public sector domestic bonds.
Noise Trading and Exchange Rate Regimes
Author: Andrew Kenan Rose
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Both the literature and new empirical evidence show that exchange rate regimes differ primarily by the noisiness of the exchange rate, not by measurable macroeconomic fundamentals. This motivates a theoretical analysis of exchange rate regimes with noise traders. The presence of noise traders can lead to multiple equilibria in the foreign exchange market. The entry of noise traders alters the composition of the market and generates excess exchange rate volatility, since noise traders both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used to lower exchange rate volatility without altering macroeconomic fundamentals.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Both the literature and new empirical evidence show that exchange rate regimes differ primarily by the noisiness of the exchange rate, not by measurable macroeconomic fundamentals. This motivates a theoretical analysis of exchange rate regimes with noise traders. The presence of noise traders can lead to multiple equilibria in the foreign exchange market. The entry of noise traders alters the composition of the market and generates excess exchange rate volatility, since noise traders both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used to lower exchange rate volatility without altering macroeconomic fundamentals.
Effects of Monetary and Real Shocks on Exchange Rate Dynamics
Author: Christina Y. Liu
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 266
Book Description
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 266
Book Description