منابع مشابه
Empirical Tests of Exchange Rate Theory
There have been very few direct applications of experimental techniques in macroeconomics for two main reasons. First, macroeconomics is about the in teraction between markets, and it is not easy to design an elegant treatment that gets at the essence of how a national economy functions. Second, there is a vestigial prejudice that favors econometrics over putatively unorthodox em pirical appr...
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The paper updates the answer to the question: what precisely is the exchange rate regime that China has put into place since 2005, when it announced a move away from the dollar peg? Is it a basket anchor with the possibility of cumulatable daily appreciations, as was announced at the time? We apply to this question a new approach to estimating countries’ de facto exchange rate regimes, a synthe...
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The purpose of this study is to find an accurate estimate of the exchange rate-CPI relationship in Iran over the past three decades. The results of the Granger causality test in the frequency domain demonstrate a strong causation from the exchange rate to CPI especially in the long run. The results of the wavelet analysis show that in the currency crisis periods, the exchange rate-CPI correlati...
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Exchange rates differ considerably with respect to exchange rate volatility, while they are very similar with respect to the macroeconomic fundamentals — the well known exchange rate disconnect puzzle. The microeconomic structure of foreign exchange markets, especially the existence of noise traders, may be responsible for the excessive volatility in flexible exchange rate regimes. The entry of...
متن کاملShort-run Exchange-rate Dynamics: Theory and Evidence
Recent research has revealed a wealth of information about the microeconomics of currency markets and thus the determination of exchange rates at short horizons. This information should help in designing exchange-rate models. This paper analyzes an existing model that was previously demonstrated to be consistent with most of the major puzzles that have emerged under floating rates. It shows tha...
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ژورنال
عنوان ژورنال: Journal of Applied Sciences
سال: 2013
ISSN: 1812-5654
DOI: 10.3923/jas.2013.3004.3006