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Author: Amirdha Vasani Sankarkumar Publisher: ISBN: Category : Languages : en Pages : 1
Book Description
An attempt has been made in this paper, to investigate the effect of oil prices on the exchange rate of 13 Asia - Pacific sample countries against USD, for the period from 04th January 2000 to 31st March 2020. OLS and QR Models were adopted for the analysis. Japanese Yen and Hong Kong Dollar were not affected by the oil prices during the study period. Sample currencies responded differently to oil price shocks under current market conditions. The results of this study would be useful to the policy makers, in the context of variations of oil and currency markets.
Author: Amirdha Vasani Sankarkumar Publisher: ISBN: Category : Languages : en Pages : 1
Book Description
An attempt has been made in this paper, to investigate the effect of oil prices on the exchange rate of 13 Asia - Pacific sample countries against USD, for the period from 04th January 2000 to 31st March 2020. OLS and QR Models were adopted for the analysis. Japanese Yen and Hong Kong Dollar were not affected by the oil prices during the study period. Sample currencies responded differently to oil price shocks under current market conditions. The results of this study would be useful to the policy makers, in the context of variations of oil and currency markets.
Author: Mr.Aasim M. Husain Publisher: International Monetary Fund ISBN: 151357227X Category : Business & Economics Languages : en Pages : 41
Book Description
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
Author: Menzie David Chinn Publisher: ISBN: Category : East Asia Languages : en Pages : 48
Book Description
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. Time series regressions of the real exchange rate on relative prices indicate a role for relative prices for Indonesia, Japan and Korea. When examining real exchange rates and relative productivity ratios, one finds a relationship for Japan, Malaysia, and the Philippines. Only when augmenting the regressions with real oil prices are significant relationships obtained for Indonesia and Korea. Panel regression results are slightly more supportive of a relative price view of real exchange rates. However, the panel regressions incorporating productivity variables, as well as other demand side factors, are less encouraging, except for a small subset of countries (Indonesia, Japan, Korea, Malaysia and the Philippines). Surprisingly, government spending does not appear to be a determinant of real exchange rates in the region.
Author: C. H. Kwan Publisher: Psychology Press ISBN: 9780415101769 Category : Business & Economics Languages : en Pages : 212
Book Description
Since the 1985 Plaza Accord, trade, investment and economic interdependence among the Asian economies has increased, while reliance on the US has fallen. In the light of this, Kwan considers the possiblity of forming a yen bloc in the region.
Author: Hongyi Chen Publisher: ISBN: Category : Languages : en Pages :
Book Description
This paper identifies five factors that can capture 95% of the variance across 39 US dollar exchange rates based on the principal component method. A time-varying parameter factor-augmented vector autoregressive (TVP-FAVAR) model is used to analyze the determinants of movements in these exchange rates, revealing that their impact on global oil prices and the People's Republic of China's growth has increased significantly since 2008. In particular, the variance of US dollar exchange rates has mainly been driven by these two shocks in recent years. The impact of monetary policy shocks on the currency pairs is comparatively small.
Author: Mr. Kangni R Kpodar Publisher: International Monetary Fund ISBN: 1616356154 Category : Business & Economics Languages : en Pages : 34
Book Description
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author: Yuen Meng Wong Publisher: ISBN: Category : Languages : en Pages : 38
Book Description
This paper reports new findings from Asia-Pacific economies on exchange rate revisions following macroeconomic shocks. Regional macroeconomic shocks are as important as the U.S. macroeconomic shocks in affecting exchange rate returns. All Asia-Pacific currencies with the exception of Thai baht react significantly to local macroeconomic shocks. Australian dollar is identified as the most elastic currency responding to macroeconomic shocks, and is more responsive than the Japanese yen. Interest-rate related shocks are generally the most influential events. We provide a ranking list on the relative impact sensitivity of macroeconomic shocks. The announcement effect of the U.S. open market actions via Fed Rate revisions is recognised as the most significant event among the 107 macroeconomic announcements examined.
Author: John Cairns Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
At times of heightened global equity and bond market volatility, high-yielding currencies tend to depreciate while low-yielding ones tend to serve as a “safe haven”. The whole spectrum of sensitivity to global volatility is represented among Asia-Pacific currencies.
Author: Amirdha Vasani Sankarkumar
Author: Amirdha Vasani Sankarkumar
Author: Menzie Chinn
Author: ZHOU CHENHUA (TP043256)
Author: Mr.Aasim M. Husain
Author: Menzie David Chinn
Author: C. H. Kwan
Author: Hongyi Chen
Author: Mr. Kangni R Kpodar
Author: Yuen Meng Wong
Author: John Cairns