PSN: Exchange Rates & Currency (Comparative) (Topic)最新文献_第8页

Exports and Wages: Rent Sharing, Workforce Composition or Returns to Skills? 出口与工资:租金分担、劳动力构成还是技能回报?

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2012-04-01 DOI: 10.2139/ssrn.2144757

Mario Macis, F. Schivardi

引用次数: 73

Views on the Commission’s Draft EU Budget: Excessively Ambitious or Overly Timid? 对欧盟委员会预算草案的看法:过于雄心勃勃还是过于胆怯?

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2012-01-27 DOI: 10.2139/SSRN.2001362

A. Mijs, A. Schout

引用次数: 0

A Darwinian Perspective on 'Exchange Rate Undervaluation' “汇率低估”的达尔文视角

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2011-02-01 DOI: 10.2139/ssrn.2708821

Qingyuan Du, S. Wei

引用次数: 22

Currency Composition of Global Foreign Exchange Reserves: Stylized Facts from Multivariate Structural Time Series Modeling 全球外汇储备的货币构成:来自多元结构时间序列模型的程式化事实

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2010-09-07 DOI: 10.2139/ssrn.2293325

Cem Payaslioğlu

{"title":"Currency Composition of Global Foreign Exchange Reserves: Stylized Facts from Multivariate Structural Time Series Modeling","authors":"Cem Payaslioğlu","doi":"10.2139/ssrn.2293325","DOIUrl":"https://doi.org/10.2139/ssrn.2293325","url":null,"abstract":"The study is an empirical investigation dealing with the stylized fact about the currency composition of foreign exchange rezerves. IMF’s COFER database statistics featuring aggregated data for two groupings of countries, namely advanced economies (33 countries), and Emerging and developing economies (107 countries) are used in the computations.The methodology is based on multivariate structural time series (MSTS) applied to quarterly foreign exchange reserve series involving four main currencies namely, U.S. dollar, Euro, Pound Sterling and Japanese Yen for the 1999:1-2009:4 period. Rather than using the level of these series, their shares in total allocated reserves are calculated and hence used here. Empirical findings for advanced economies group indicate that a strong but negative correlation can be detected between the trend disturbances of UsD and Euro-Pound rezerve shares while a high positive correlation exists between the latter two. Consequently, this imposes a dependence structure in the form of a common trend between rezerve shares in these currencies. The common factor dependence structure changes noticeably for emerging economies group.","PeriodicalId":20949,"journal":{"name":"PSN: Exchange Rates & Currency (Comparative) (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2010-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91503713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Money Growth and Inflation: A Regime Switching Approach 货币增长与通货膨胀:一种制度转换方法

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2010-05-14 DOI: 10.1016/J.JIMONFIN.2012.09.006

Gianni Amisano, G. Fagan

引用次数: 79

Varieties of Capitalism, Varieties of Vulnerabilities: Financial Crisis and its Impact on Welfare States in Eastern Europe and the Commonwealth of Independent States 资本主义的多样性，脆弱性的多样性:金融危机及其对东欧和独联体福利国家的影响

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2009-11-15 DOI: 10.12759/HSR.35.2010.2.266-295

J. Drahokoupil, M. Myant

{"title":"Varieties of Capitalism, Varieties of Vulnerabilities: Financial Crisis and its Impact on Welfare States in Eastern Europe and the Commonwealth of Independent States","authors":"J. Drahokoupil, M. Myant","doi":"10.12759/HSR.35.2010.2.266-295","DOIUrl":"https://doi.org/10.12759/HSR.35.2010.2.266-295","url":null,"abstract":"This paper investigates the implications of the 2008 financial crisis on welfare states and the capitalist diversity in the post-communist world, including Eastern Europe and the Commonwealth of Independent States. It analyzes three political-economic varieties in the region: those of capitalism, welfare, and vulnerabilities to the crisis. The three varieties are linked, but there is also a considerable variation given the importance of political and policy factors. Economic growth models created different political and economic constraints on policies of adjustment to the crisis. In particular, currency substitution was associated with strong political preferences for defending exchange rates, with adjustment through reductions in public spending and wages. A variety of welfare models was associated with different political constituencies for welfare provision. The interplay of these constraints and political factors together with intervention of international institutions shapes the nature of welfare state adjustments. Early developments indicate also some unexpected outcomes.","PeriodicalId":20949,"journal":{"name":"PSN: Exchange Rates & Currency (Comparative) (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2009-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75920846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 34

Familiarity, Convenience, and Commodity Money: Spanish and Mexican Silver Dollars in Qing and Republican China 熟悉、便利与商品货币:清代与民国时期的西班牙银币与墨西哥银币

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2009-06-22 DOI: 10.2139/ssrn.1424070

W. Bailey, Bin Zhao

引用次数: 2

Evidence for Sign Asymmetry of Exchange Rate Exposure 汇率风险敞口符号不对称的证据

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2008-12-30 DOI: 10.4038/cbj.v1i2.115

P. Jayasinghe

引用次数: 0

OECD 국가에서 재정지출이 경상수지와 실질환율에 미치는 영향 (Government Spending Shocks, the Current Account and the Real Exchange Rate in OECD Countries) (Government Spending Shocks, the Current Account and the Real Exchange Rate in OECD Countries)

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2008-06-30 DOI: 10.2139/ssrn.3077845

Soyoung Kim

{"title":"OECD 국가에서 재정지출이 경상수지와 실질환율에 미치는 영향 (Government Spending Shocks, the Current Account and the Real Exchange Rate in OECD Countries)","authors":"Soyoung Kim","doi":"10.2139/ssrn.3077845","DOIUrl":"https://doi.org/10.2139/ssrn.3077845","url":null,"abstract":"<b>Korean Abstract:</b> 본 연구는 패널 VAR 모형을 이용하여 20개 OECD 국가에서 재정지출 충격이 경상수지와 실질환율에 미치는 영향에 관한 일반적인 실증분석 결과를 얻고자 하였다. 또한 그룹별 추정을 통해 국가 규모와 개방도에 따라 재정지출 충격이 미치는 영향이 어떻게 변하는가를 분석하였다. 실증분석 결과는 다음과 같다. (1) 20개국을 이용한 분석에서는 재정지출 충격이 경상수지를 뚜렷하게 악화시키나 실질환율 절하 효과는 확실하지 않다. (2) 개방도가 큰 경우 더 뚜렷한 실질환율 절하 효과를 볼 수 있으나 경상수지 악화는 더 일시적이다. (3) 국가규모가 큰 경우 경상수지 악화 효과가 더 뚜렷하게 나타난다. 재정확장 정책 후 실질환율 절하 현상은 전통적인 이론들에 부합하지 않지만, 국가 특성에 따른 차이는 기존 이론에 어느 정도 부합한다고 볼 수 있고 향후 이론적인 분석에서 국가별 특성의 차이를 고려하는 것이 중요함을 시사하고 있다. <b>English Abstract:</b> This paper examines the effects of government spending shocks on the current account and the real exchange rate for 20 OECD countries using panel VAR model, in order to provide empirical stylized facts. The countries were grouped based on openness and size, and the influence of openness and size on the effects of government spending shocks. The main findings are as follows. First, in the analysis of all 20 countries, in response to government spending shocks, the worsening of the current account is significant, but real exchange rate appreciation is not significant. Second, real exchange rate appreciation is more significant and worsening of the current account is more temporary in the group of countries with higher openness than in those with low openness. Third, the worsening of the current account is more significant in the group of large countries than in the group of small countries. Although real exchange rate depreciation under fiscal expansion is not consistent with traditional theories, the results are broadly consistent with the existing theories that incorporate openness and the size of the country.","PeriodicalId":20949,"journal":{"name":"PSN: Exchange Rates & Currency (Comparative) (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2008-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87266671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Upsides of Currency Manipulation: How China Survived the East Asian Crisis of 1997-8 《货币操纵的好处:中国如何度过1997- 1998年东亚金融危机》

PSN: Exchange Rates & Currency (Comparative) (Topic) Pub Date : 2008-01-01 DOI: 10.2139/ssrn.2253820

Shira Kaplan

{"title":"The Upsides of Currency Manipulation: How China Survived the East Asian Crisis of 1997-8","authors":"Shira Kaplan","doi":"10.2139/ssrn.2253820","DOIUrl":"https://doi.org/10.2139/ssrn.2253820","url":null,"abstract":"For more than a decade, the United States has spearheaded the efforts to pressure China to appreciate the yuan versus the dollar. China’s exchange rate regime has been accused of as manipulative and dishonest, as Beijing has sought to keep the yuan at a rate of between 10 and 40 percent under its supposed value. China’s devaluation of the yuan has not only undermined its Asian neighbors’ export growth; it has also widened significantly the current account gap between the United States and China over the past decade, burdening the US economy with an ever-increasing trade deficit. I argue that despite the inconvenience caused to the East Asian economies and to the United States’ economy in the past decade, China’s currency manipulation has been favorable and advantageous to its own growth. Specifically, I analyze how useful China’s exchange rate policy was before and throughout the East Asian crisis of 1997. My conclusion is that without China’s currency manipulation, it is possible that China would have been hit much harder by the financial crisis, such that it would have taken it much longer to emerge into the world’s globalized economy as a leading player. I discuss China’s motivation for currency manipulation in the context of its desire to avoid social and political unrest.","PeriodicalId":20949,"journal":{"name":"PSN: Exchange Rates & Currency (Comparative) (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2008-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90639128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0