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  1. What explains movements in the peso/dollar exchange rate?
    Author: Wu, Yi
    Published: 2013
    Publisher:  IMF, Washington, DC

    This paper examines the factors affecting the weekly peso/dollar exchange rate movements between 1999 and 2013 using an error correction model. The model fits the historical data well. While copper price is the most important determinant of the peso... more

    Location:
    Hochschulbibliothek Friedensau
    Signature:
    Online-Ressource
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    Location:
    Hochschule für Wirtschaft und Umwelt Nürtingen-Geislingen, Bibliothek Nürtingen
    Signature:
    eBook ProQuest
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    This paper examines the factors affecting the weekly peso/dollar exchange rate movements between 1999 and 2013 using an error correction model. The model fits the historical data well. While copper price is the most important determinant of the peso exchange rate over the long run, other factors including interest rate differential, global financial distress, local pension funds' derivative position, as well as the Federal Reserve's quantitative easing also affect the peso in the short run. The Central Bank of Chile's foreign exchange interventions in 2008 and 2011 had a small impact on the pe

     
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    Volltext (lizenzpflichtig)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781484393611
    Series: IMF working paper ; 13/171
    IMF Working Papers
    Subjects: Wechselkurs; Kupfer; Rohstoffpreis; Chile; USA; Foreign exchange rates; Foreign exchange; Foreign exchange; Foreign exchange rates; Foreign exchange rates -- United States; Foreign exchange rates -- Mexico; Foreign exchange -- United States; Foreign exchange -- Mexico; Electronic books
    Scope: Online-Ressource (21 S.), graph. Darst.
    Notes:

    Includes bibliographical references

    Electronic reproduction; Available via World Wide Web

    Cover; Contents; A. Introduction; B. Possible Determinants of the Peso Exchange Rate; C. The Analytical Framework and Data; D. Empirical Results; E. Summary; References; Figures; 1. Copper Price and the Peso Exchange Rate; 2. Capital Flows; 3a. What Explains Peso Movements; 3b. What Explains Peso Movements; 4. Actual vs. 3-Month Dynamic Simulation Forecast; Tables; 1. Bilateral Correlations; 2. Exchange Rate Regressions: Long-run Dynamics; 3a. Exchange Rate Regressions: Short-run Dynamics; 3b. Exchange Rate Regressions: Short-run Dynamics
  2. Exchange rate flexibility and credit during capital inflow reversals
    purgatory…not paradise
    Author: Magud, Nicolas; Vesperoni, Esteban R.
    Published: 2014
    Publisher:  IMF, Washington, DC

    We document the behavior of macro and credit variables during episodes of capital inflows reversals in economies with different degrees of exchange rate flexibility. We find that exchange rate flexibility is associated with milder credit growth... more

    Location:
    Hochschulbibliothek Friedensau
    Signature:
    Online-Ressource
    Inter-library loan:
    No inter-library loan

    Location:
    Hochschule für Wirtschaft und Umwelt Nürtingen-Geislingen, Bibliothek Nürtingen
    Signature:
    eBook ProQuest
    Inter-library loan:
    No inter-library loan

     

    We document the behavior of macro and credit variables during episodes of capital inflows reversals in economies with different degrees of exchange rate flexibility. We find that exchange rate flexibility is associated with milder credit growth during the boom but, even though smaller than in more rigid regimes, it cannot shield the economy from a credit reversal. Furthermore, we observe what we dub as a recovery puzzle: credit growth in economies with more flexible exchange rate regimes remains tepid well after the capital flow reversal takes place. This results stress the complementarity of

     
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    Volltext (lizenzpflichtig)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781475543735
    Series: IMF working paper ; 14/61
    IMF Working Papers
    Subjects: Auslandsinvestition; Flexibler Wechselkurs; Kreditmarkt; Finanzmarktaufsicht; Capital movements -- United States; Foreign exchange rates -- United States; Credit -- United States; Electronic books
    Scope: Online-Ressource (29 S.), graph. Darst.
    Notes:

    Description based upon print version of record

    Cover; Abstract; Contents; I. Introduction; II. Selected (Recent) Literature Review; III. Data Description; Tables; 1: Coarse Exchange Rate Classification; IV. Identifying Capital Flows Reversals: Methodology; A. Capital Inflows Booms; B. Capital Flows Reversals; C. Identification Results: Some Descriptive Statistics; 2: Capital Inflow Reversal Events; Figures; 1: Regional Distribution; V. Event Analysis: Documenting Stylized Facts; A. The Macroeconomic Environment; 2: Macroeconomic Variables; B. Banking Sector Credit; 3: Banking Sector Credit; 3: Real Credit Growth; C. Robustness

    VI. Econometric AnalysisA. Models; B. Results; 4: Credit Growth and Exchange Rate Regime; 4: Coefficient for the Exchange Rate Regime; VII. Policy Implications; VIII. Concluding Remarks; Appendix 1; Appendix 2; References