Regime-switching in exchange rate policy and balance sheet effects:
"The authors apply regime-switching methods to a monetarist model of exchange rates and identify well-defined intervention policy cycles. The policy response indices include a standard exchange market pressure-based index and a model-based volatility ratio that is endogenized relative to Japan,...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
2005
|
| Schriftenreihe: | Policy research working paper
3653 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "The authors apply regime-switching methods to a monetarist model of exchange rates and identify well-defined intervention policy cycles. The policy response indices include a standard exchange market pressure-based index and a model-based volatility ratio that is endogenized relative to Japan, assumed to be a "benchmark" floater. The authors find strong evidence that balance sheet effects, proxied by the stock ratio of external liabilities to assets, and economic performance, as measured by GDP and stock market indices, determine the cost of the regime shift. They use a panel of quarterly data from 1985 to 2004 for a sample of 15 countries, mostly in East Asia and Latin America. "--World Bank web site |
| Beschreibung: | Includes bibliographical references. - Title from PDF file as viewed on 8/16/2005 Erscheinungsjahr in Vorlageform:[2005] Weitere Ausgabe: Fiess, Norbert M: Regime-switching in exchange rate policy and balance sheet effects |
| Beschreibung: | 1 Online-Ressource (36 Seiten) |
Internformat
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| 500 | |a Weitere Ausgabe: Fiess, Norbert M: Regime-switching in exchange rate policy and balance sheet effects | ||
| 520 | 1 | |a "The authors apply regime-switching methods to a monetarist model of exchange rates and identify well-defined intervention policy cycles. The policy response indices include a standard exchange market pressure-based index and a model-based volatility ratio that is endogenized relative to Japan, assumed to be a "benchmark" floater. The authors find strong evidence that balance sheet effects, proxied by the stock ratio of external liabilities to assets, and economic performance, as measured by GDP and stock market indices, determine the cost of the regime shift. They use a panel of quarterly data from 1985 to 2004 for a sample of 15 countries, mostly in East Asia and Latin America. "--World Bank web site | |
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| id | DE-604.BV040618258 |
| illustrated | Not Illustrated |
| indexdate | 2025-02-26T04:01:15Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025445757 |
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| physical | 1 Online-Ressource (36 Seiten) |
| psigel | ZDB-1-WBA |
| publishDate | 2005 |
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| publisher | World Bank |
| record_format | marc |
| series2 | Policy research working paper |
| spellingShingle | Fiess, Norbert M. Shankar, Rashmi Regime-switching in exchange rate policy and balance sheet effects Entwicklungsländer |
| title | Regime-switching in exchange rate policy and balance sheet effects |
| title_auth | Regime-switching in exchange rate policy and balance sheet effects |
| title_exact_search | Regime-switching in exchange rate policy and balance sheet effects |
| title_full | Regime-switching in exchange rate policy and balance sheet effects Norbert Fiess, Rashmi Shankar |
| title_fullStr | Regime-switching in exchange rate policy and balance sheet effects Norbert Fiess, Rashmi Shankar |
| title_full_unstemmed | Regime-switching in exchange rate policy and balance sheet effects Norbert Fiess, Rashmi Shankar |
| title_short | Regime-switching in exchange rate policy and balance sheet effects |
| title_sort | regime switching in exchange rate policy and balance sheet effects |
| topic | Entwicklungsländer |
| topic_facet | Entwicklungsländer |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3653 |
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