Fx Intervention To Stabilize Or Manipulate The Exchange Rate
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Fx Intervention To Stabilize Or Manipulate The Exchange Rate Inference From Profitability
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Author : Mr.Damiano Sandri
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-12
Fx Intervention To Stabilize Or Manipulate The Exchange Rate Inference From Profitability written by Mr.Damiano Sandri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-12 with Business & Economics categories.
We analyze the profitability of FX swaps used by the central bank of Brazil to shed light on the rationale for FX intervention. We find that swaps are profitable in expectation, suggesting that FX intervention is used to stabilize the exchange rate in the face of temporary excessive movements rather than to manipulate it away from fundamental values. In line with this interpretation, we find that the scale of FX intervention responds to the degree of exchange rate misalignment relative to UIP conditions. We also document that intervention is more aggressive when there is less uncertainty about the medium-term level of the exchange rate and when the exchange rate is overvalued rather than undervalued.
Fx Intervention To Stabilize Or Manipulate The Exchange Rate
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Author : Damiano Sandri
language : en
Publisher:
Release Date : 2022
Fx Intervention To Stabilize Or Manipulate The Exchange Rate written by Damiano Sandri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
Analytical Approaches To Stabilization And Adjustment Programs
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Author : Cadman Atta Mills
language : en
Publisher: World Bank Publications
Release Date : 1992
Analytical Approaches To Stabilization And Adjustment Programs written by Cadman Atta Mills and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
Initiating A True International Currency
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Author : Abdurrahman Arum Rahman
language : en
Publisher: Global Currency Initiative
Release Date : 2021-12-13
Initiating A True International Currency written by Abdurrahman Arum Rahman and has been published by Global Currency Initiative this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-13 with Business & Economics categories.
The US dollar and the euro are not true international currencies, but the currencies of the United States and the Euro, which are “adopted” into international currencies. We designed a truly international currency that is controlled jointly by all (member) countries in the world in a democratic and decentralized manner. The name of the system is organic. The organic system issues an international currency called organic currency. The organic currency is only for international transactions between member countries. Meanwhile, domestic transactions still use their respective national currencies. This system can provide international currency and FX reserves to all (member) countries in the world for free. This system can free all countries from government foreign debt, maintain a balance of payments, make the international monetary system stable, and eliminate the monetary crisis from its roots. This system can start from a small scale, such as ASEAN, South Asia, East Asia, Middle East, Latin America, East Africa, West, Central, and other regions. Unlike the Euro model, this system does not require economic integration. So all countries in the world can join in their condition as they are. In this third edition book, we deepen the theory, improve the plot, sharpen the analysis, add examples, remove some less essential parts, and add references to raise academic standards. We maintain a very simple writing system, easy to read, accompanied by empirical examples and easy-to-understand illustrations. We want the discussion of the international economic and monetary system to be “friendly” for all and “not scary”. We avoid very technical terms. Even if there are, we always provide very simple explanations and illustrations. Everyone can read this book. Because international currency is of public interest. Every individual on earth has the right to know clearly.
Management And Control Of Foreign Exchange Risk
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Author : Laurent L. Jacque
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-01
Management And Control Of Foreign Exchange Risk written by Laurent L. Jacque and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-01 with Business & Economics categories.
Since I first published Management of Foreign Exchange Risk (Lexington Books, 1978), financial innovation-spurred, in part, by exploding volatility in currency prices-has revolutionized the theory and praxis of foreign exchange risk management. Old-fashioned forward contracts have surrendered market share to currency swaps and options as well as to their perpetually multiplying derivatives. Interestingly, forex derivatives now provide a low cost and highly efficient method of transferring risk from the firms that are exposed to risk but which would rather not be (i. e. , risk-hedgers) to those which are not exposed but which-in exchange for a fee-would assume some exposure to risk (i. e. , risk bearers). Perhaps more importantly, foreign exchange risk management, which was once a fairly mechanical task confmed to the international treasury function, is now permeating global strategic management. Indeed, since the demise of the Bretton Woods system of pegged exchange rates, the cost of forex hedging instruments has fallen so dramatically that firms can readily avail themselves of hedging products which can reduce unwanted risk, thereby potentially gaining a competitive advantage over rivals that do not. Management and Control of Foreign Exchange Risk has grown out of a fundamental revision of my earlier work published almost 20 years ago. In the process, my thinking about risk and its mathematics has greatly benefitted from my association with John Cozzolino and Charles Tapiero.
Exchange Rate Determination And Control
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Author : Giorgio Radaelli
language : en
Publisher: Routledge
Release Date : 2002-01-08
Exchange Rate Determination And Control written by Giorgio Radaelli and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-08 with Business & Economics categories.
The experiences of the Exchange Rate Mechanism of the European Community have highlighted the difficulties of exchange rate control. Exchange Rate Determination and Control investigates the determinants of exchange rates and evaluates the main options for policy makers in limiting exchange rate fluctuations, drawing on the empirical evidence of the experiences of the G7 countries over the last two decades.
Uncovering Cip Deviations In Emerging Markets Distinctions Determinants And Disconnect
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Author : Eugenio Cerutti
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-10
Uncovering Cip Deviations In Emerging Markets Distinctions Determinants And Disconnect written by Eugenio Cerutti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-10 with Business & Economics categories.
We provide a systematic empirical treatment of short-term Covered Interest Parity (CIP) deviations for a large set of emerging market (EM) currencies. EM CIP deviations have much larger volatilities than most G10 currencies and move in an opposite direction during global risk-off episodes. While off-shore EM CIP deviations are sensitive to changes in FX dealers’ risk-bearing capacities and global risk aversion, on-shore EM CIP deviations are largely unresponsive in segmented FX markets. Moreover, the sensitivity of offshore EM CIP deviations to global risk factors for currencies with segmented FX markets is stronger compared to their counterparts with integrated FX markets. We find weak evidence of country default risk affecting EM CIP deviations after accounting for global factors.
Dynamic Modelling And Control Of National Economies 1983
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Author : T. Basar
language : en
Publisher: Elsevier
Release Date : 2014-05-17
Dynamic Modelling And Control Of National Economies 1983 written by T. Basar and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-17 with Business & Economics categories.
Dynamic Modelling and Control of National Economies 1983 contains the proceedings of the Fourth IFAC/IFORS/IIASA Conference and the 1983 SEDC Conference on Economic Dynamics and Control held at Washington D.C., USA on June17-19, 1983. Separating the 65 papers presented in the conference as chapters, this book covers a broad class of problems or notions arising both in economic theory, control applications to planning, and implementation issues. Some chapters discuss multi-level interactions of government and private sectors in economic development; inflation and economic policy in an open economy; foreign debt and exchange rate stability in a developing country; and expectations in numerical general equilibrium models. This book also explains a rational decision-making process for resource policymaking; inference of the structure of economic reasoning from natural language analysis; modeling and analysis of a national economy; and methodological issues in global modeling. Econometric analysis of the economic effects of population change, aspects of optimal estimation control strategies in econometrics, and optimal policies for interdependent economies are also discussed. This book will be useful to those engaged in economic and control theory research.
Megaregulation Contested
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Author : Benedict Kingsbury
language : en
Publisher: Oxford University Press
Release Date : 2019-06-06
Megaregulation Contested written by Benedict Kingsbury and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-06 with Law categories.
The Japan-led Trans-Pacific Partnership (CPTPPA) of 2018 is the most far-reaching 'megaregional' economic agreement in force, with several major countries beyond its eleven negotiating countries also interested. Still bearing the stamp of the original US involvement before the Trump-era reversal, TPP is the first instance of 'megaregulation': a demanding combination of inter-state economic ordering and national regulatory governance on a highly ambitious substantive and trans-regional scale. Its text and ambition have influenced other negotiations ranging from the Japan-EU Agreement (JEEPA) and the US-Mexico-Canada Agreement (USMCA) to the projected Pan-Asian Regional Comprehensive Economic Partnership (RCEP). This book provides an extensive analysis of TPP as a megaregulatory project for channelling and managing new pressures of globalization, and of core critical arguments made against economic megaregulation from standpoints of development, inequality, labour rights, environmental interests, corporate capture, and elite governance. Specialized chapters cover supply chains, digital economy, trade facilitation, intellectual property, currency levels, competition and state-owned enterprises, government procurement, investment, prescriptions for national regulation, and the TPP institutions. Country studies include detailed analyses of TPP-related politics and approaches in Japan, Mexico, Brazil, China, India, Indonesia, and Thailand. Contributors include leading practitioners and scholars in law, economics, and political science. At a time when the WTO and other global-scale institutions are struggling with economic nationalism and geopolitics, and bilateral and regional agreements are pressed by public disagreement and incompatibility with digital and capital and value chain flows, the megaregional ambition of TPP is increasingly important as a precedent requiring the close scrutiny this book presents.
Annual Report On Exchange Arrangements And Exchange Restrictions 2023
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-12-19
Annual Report On Exchange Arrangements And Exchange Restrictions 2023 written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-12-19 with Business & Economics categories.
The AREAER provides a comprehensive description of restrictions on international trade and payments, capital controls, and measures implemented in the financial sector, including prudential measures that may affect capital flows for all IMF members. It also provides information on the classification of their exchange rate arrangements, operation of foreign exchange markets, restrictions on current international payments and transfers and multiple currency practices subject to the IMF’s jurisdiction in accordance with Article VIII. Descriptions of individual member countries are available at AREAER Online.