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Displaying results 1 to 9 of 9.

  1. International yield curves and currency puzzles
    Author: Chernov, Mikhail; Creal, Drew
    Published: 17 October 2018
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 32 (13252)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Edition: Revision
    Series: Discussion paper series / Centre for Economic Policy Research ; DP13252 (v. 3)
    Subjects: affine models; bond valuation; Exchange Rates; FX disconnect
    Scope: 46 Seiten, Illustrationen
    Notes:

    Erscheint auch als Online-Ausgabe
  2. Invoicing and pricing-to-market
    a study of price and markup elasticities of UK exporters
    Author: Crowley, Meredith A.; Corsetti, Giancarlo; Han, Lu
    Published: 29 October 2018
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 32 (13282)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Discussion paper series / Centre for Economic Policy Research ; DP13282
    Subjects: dominant currency; Exchange Rates; Firm level data; Law of one price; markup elasticity; Pass through; Vehicle currency
    Scope: 68 Seiten, Illustrationen
    Notes:

    Erscheint auch als Online-Ausgabe
  3. Money markets and exchange rates in pre-industrial Europe
    Author: Nogués-Marco, Pilar
    Published: 07 December 2018
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 32 (13372)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Discussion paper series / Centre for Economic Policy Research ; DP13372
    Subjects: money market; Bills of Exchange; monetary geography; usury regulations; cost of capital; Exchange Rates; interest rates; Specie-Point Mechanism
    Scope: 24 Seiten, Illustrationen
    Notes:

    Erscheint auch als Online-Ausgabe
  4. The behaviour of betting and currency markets on the night of the EU referendum
    Author: Auld, Tom; Linton, Oliver
    Published: May 2018
    Publisher:  Monash University, Department of Econometrics and Business Statistics, [Victoria, Australia]

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 796
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Monash University, Department of Econometrics and Business Statistics ; 18, 10
    Subjects: EU Referendum; Prediction Markets; Machine Learning; Efficient Markets Hypothesis; Pairs Trading; Cointegration; Bayesian Methods; Exchange Rates
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  5. US monetary policy and the stability of currency pegs
    Author: Roevekamp, Ingmar
    Published: October 2018
    Publisher:  Verein für Socialpolitik, [Leipzig]

    I study the pricing of American Depositary Receipts around FOMC meetings to identify the impact of US monetary policy on managed exchange rates. ADR investors assess the domestic central bank’s reluctance to maintain a currency peg regime if the... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DSM 13
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    I study the pricing of American Depositary Receipts around FOMC meetings to identify the impact of US monetary policy on managed exchange rates. ADR investors assess the domestic central bank’s reluctance to maintain a currency peg regime if the costs of mimicking policy rate increases in the US are high, i.e., the current state of the domestic economy is poor. In line with currency crises models of interest rate defence, I find that positive US monetary surprises increase the breakdown probability of pegs with low real GDP growth, high fiscal deficits, high sovereign risk and a weak domestic banking sector.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/203525
    Series: Array ; Array
    Subjects: American Depositary Receipts; Currency Crises; Exchange Rates; FOMC Meetings; Monetary Policy
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  6. Foreign safe asset demand and the Dollar exchange rate
    Author: Jiang, Zhengyang; Krishnamurthy, Arvind; Lustig, Hanno
    Published: [2018]
    Publisher:  [Stanford Graduate School of Business], [Stanford, CA]

    We develop a theory that links the U.S. dollar's valuation in FX markets to the convenience yield that foreign investors derive from holding U.S. safe assets. We show that this convenience yield can be inferred from the Treasury basis: the yield gap... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    We develop a theory that links the U.S. dollar's valuation in FX markets to the convenience yield that foreign investors derive from holding U.S. safe assets. We show that this convenience yield can be inferred from the Treasury basis: the yield gap between U.S. government and currency-hedged foreign government bonds. Consistent with the theory, a widening of the basis coincides with an immediate appreciation and a subsequent depreciation of the dollar. Our results lend empirical support to models which impute a special role to the U.S. as the world's provider of safe assets and the dollar, the world's reserve currency

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: [Stanford University Graduate School of Business research paper ; no. 18, 16]
    Subjects: Covered Interest Rate Parity; Exchange Rates; Safe Asset Demand; Convenience Yields
    Scope: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  7. The macroeconomic effects of trade policy
    Author: Erceg, Christopher J.; Prestipino, Andrea; Raffo, Andrea
    Published: 2018
    Publisher:  Board of Governors of the Federal Reserve System, [Washington, DC]

    We study the short-run macroeconomic effects of trade policies that are equivalent in a friction-less economy, namely a uniform increase in import tariffs and export subsidies (IX), an increase in value-added taxes accompanied by a payroll tax... more

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    Verlag (kostenfrei)

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 201
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    We study the short-run macroeconomic effects of trade policies that are equivalent in a friction-less economy, namely a uniform increase in import tariffs and export subsidies (IX), an increase in value-added taxes accompanied by a payroll tax reduction (VP), and a border adjustment of corporate pro.t taxes (BAT). Using a dynamic New Keynesian open-economy framework, we summarize conditions for exact neutrality and equivalence of these policies. Neutrality requires the real exchange rate to appreciate enough to fully offset the effects of the policies on net exports. We argue that a combination of higher import tariffs and export subsidies is likely to trigger only a partial exchange rate offset and thus boosts net exports and output (with the output stimulus largely due to the subsidies). Under full pass-through of taxes, IX and BAT are equivalent but VP is not. We show that a temporary VP can increase intertemporal prices enough to depress aggregate demand and output, even when wages are sticky. These contractionary effects are especially pronounced under fixed exchange rates

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: This version: October 1, 2018
    Series: International finance discussion papers ; number1242 (December 2018)
    FRB International Finance Discussion Paper ; No. 1242
    Subjects: Trade Policy; Fiscal Policy; Exchange Rates; Fiscal Devaluation
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  8. Trade and currency weapons
    Author: Bénassy-Quéré, Agnès; Bussière, Matthieu; Wibaux, Pauline
    Published: [2018]
    Publisher:  CEPII, Paris

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 606
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / CEPII ; no 2018, 08 (June)
    Subjects: Tariffs; Exchange Rates; Trade Elasticities; Protectionism
    Scope: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  9. EQCHANGE annual assessment 2018
    Author: Grekou, Carl
    Published: [2018]
    Publisher:  CEPII, Paris

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 606
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / CEPII ; no 2018, 23 (December)
    Subjects: EQCHANGE; Exchange Rates; Currency Misalignments; Imbalances
    Scope: 1 Online-Ressource (circa 49 Seiten), Illustrationen