Direkt zur Hauptnavigation springen Direkt zum Inhalt springen
info(at)avldigital.remove-this.de
Deutsch English
Letzte Suchanfragen

Ergebnisse für *

Zeige Ergebnisse 1 bis 8 von 8.

  1. External shocks and FX intervention policy in emerging economies
    Autor*in: Carrasco, Alex; Florián Hoyle, David
    Erschienen: August 2021
    Verlag:  Inter-American Development Bank, Department of Research and Chief Economist, [Washington, DC]

    This paper discusses the role of sterilized foreign exchange (FX) interventions as a monetary policy instrument for emerging market economies in response to external shocks. We develop a model for a commodity-exporting small open economy in which FX... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 144
    Fernleihe:
    keine Fernleihe

     

    This paper discusses the role of sterilized foreign exchange (FX) interventions as a monetary policy instrument for emerging market economies in response to external shocks. We develop a model for a commodity-exporting small open economy in which FX intervention is considered as a balance sheet policy induced by a financial friction in the form of an agency problem between banks and their creditors. The severity of banks agency problem depends directly on a bank-level measure of currency mismatch. Endogenous deviations from the standard UIP condition arise at equilibrium. In this context, FX interventions moderate the response of financial and macroeconomic variables to external shocks by leaning against the wind with respect to real exchange rate pressures. Our quantitative results indicate that, conditional on external shocks, the FX intervention policy successfully reduces credit, investment, and output volatility, along with substantial welfare gains when compared to a free-floating exchange rate regime. Finally, we explore distinct generalizations of the model that eliminate the presence of endogenous UIP deviations. In those cases, FX intervention operations are considerably less effective for the aggregate equilibrium.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/245875
    Schriftenreihe: IDB working paper series ; no IDB-WP-1243
    Schlagworte: Foreign exchange intervention; External shocks; Monetary policy; Financial dollarization; Financial frictions
    Umfang: 1 Online-Ressource (circa 99 Seiten), Illustrationen
  2. Effectiveness of foreign exchange interventions
    evidence from New Zealand
    Autor*in: Besuyen, Andrew; Coupé, Tom; Das, Kuntal K.
    Erschienen: [2021]
    Verlag:  Department of Economics and Finance, School of Business and Economics, University of Canterbury, Christchurch, New Zealand

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 92
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper / Department of Economics and Finance, School of Business and Economics, University of Canterbury ; no. 2021, 1
    Schlagworte: Foreign exchange intervention; Explicit intervention; Implicit intervention; Synthetic control; Effectiveness
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  3. Systematic intervention and currency risk premia
    Autor*in: Fratzscher, Marcel; Heidland, Tobias; Menkhoff, Lukas; Sarno, Lucio; Schmeling, Maik
    Erschienen: January 2021
    Verlag:  Emerging Markets Group, Bayes Business School, City University, London

    Zugang:
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: EMG working paper series ; WP-EMG-2021, 04
    Schlagworte: Foreign exchange intervention; currency risk; carry; momentum; value
    Umfang: 1 Online-Ressource (circa 71 Seiten), Illustrationen
  4. Exchange-rate swings and foreign currency intervention
    Autor*in: Filardo, Andrew J.; Gelos, Gaston; McGregor, Thomas
    Erschienen: 05 October 2022
    Verlag:  Centre for Economic Policy Research, London

    Zugang:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    LZ 161
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Mannheim
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP17570
    Schlagworte: Central banking; Equilibrium exchange rates; Foreign exchange intervention; bandspectrum regression
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  5. International capital flow pressures and global factors
    Autor*in: Krogstrup, Signe; Goldberg, Linda S.
    Erschienen: 22 January 2023
    Verlag:  Centre for Economic Policy Research, London

    Zugang:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    LZ 161
    Fernleihe:
    keine Fernleihe

    Standort:
    Universitätsbibliothek Mannheim
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP17833
    Schlagworte: Kapitalmobilität; Devisenmarkt; Internationaler Finanzmarkt; Wechselkurs; Wechselkurspolitik; Reservewährung; Welt; Exchange market pressure; Risk aversion; Safe haven; Capital flows; Exchange rates; Foreign exchange intervention; Global financial cycle
    Umfang: 1 Online-Ressource (circa 74 Seiten)
  6. Can central bank credibility improve monetary policy?
    a meta-analysis
    Autor*in: Cepeda, Valentina; Taboada-Arango, Bibiana; Villamizar, Mauricio
    Erschienen: [2023]
    Verlag:  Banco de la Republica Colombia, Bogotá, Colombia

    Zugang:
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 468
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 20.500.12134/10653
    Schriftenreihe: Borradores de economía ; no. 1239 (2023)
    Schlagworte: Meta analysis; Central bank credibility; Conventional policy; Unconventional policy; Capital flows; Foreign exchange intervention
    Umfang: 1 Online-Ressource
  7. An estimated model of a commodity-exporting economy for the integrated policy framework
    evidence from Mongolia
    Autor*in: Doojav, Gan-Ochir; Gantumur, Munkhbayar
    Erschienen: [2023]
    Verlag:  Graduate Institute of International and Development Studies, International Economics Department, Geneva, Switzerland

    This paper develops an estimated New Keynesian model of a commodity-exporting economy for an integrated policy framework, integrating the full range of policies used in practice and featuring a range of nominal and real rigidities, macro-financial... mehr

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 272
    Fernleihe:
    keine Fernleihe

     

    This paper develops an estimated New Keynesian model of a commodity-exporting economy for an integrated policy framework, integrating the full range of policies used in practice and featuring a range of nominal and real rigidities, macro-financial linkages, and transmission channels of external shocks. We jointly examine the optimal conduct of conventional and unconventional monetary policies, macroprudential policy, foreign exchange intervention, capital flow management, and fiscal policy based on the model. The policy analysis framework is applied empirically to Mongolia, a small open, and developing economy highly dependent on imports and commodity exports. We find that an eclectic policy mix improves policy tradeoffs, and a lack of cooperation among policy authorities may result in conflicting policies, hence suboptimal results for overall economic stability. Our optimal policy analysis shows that policy mix adjustments should differ depending on the type of shocks and the policy objectives. The results suggest that the policy analysis framework can help policymakers choose their policy mix adjustments to deal with external shocks in an integrated and optimal way.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/278429
    Schriftenreihe: Working paper series / Graduate Institute of International and Development Studies, International Economics Department ; no. HEIDWP2023, 05
    Schlagworte: Monetary policy; Macroprudential policy; Foreign exchange intervention; Fiscal policy; Capital flow management; Optimal policy mix; Open economy macroeconomics; External shocks; Bayesian analysis
    Umfang: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  8. Gradual portfolio adjustment, foreign exchange intervention, and open market operations
    Autor*in: Li, Rong; Mei, Dongzhou; Tong, Bing
    Erschienen: [2024]
    Verlag:  HenU Center for Financial Development and Stability, Shunhe, Kaifeng, Henan, China

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 807
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: CFDS discussion paper series ; 2024, 6
    Schlagworte: Gradual portfolio adjustment; Foreign exchange intervention; Open market operations; Capital flows; Liquidity effect; Small openeconomy; New Keynesian model
    Umfang: 1 Online-Ressource (circa 78 Seiten), Illustrationen