Exchange rate Research Papers - Academia.edu (original) (raw)

This article investigates the markup pricing behaviour of U.S. exporters of agricultural products. Agricultural products studied are feed, flour, frozen potatoes, frozen orange juice, five categories of beef, five categories of pork, and... more

This article investigates the markup pricing behaviour of U.S. exporters of agricultural products. Agricultural products studied are feed, flour, frozen potatoes, frozen orange juice, five categories of beef, five categories of pork, and two categories of chicken. The popular pricing-to-market (PTM) approach of Krugman (1987) is used to examine market power and imperfect competition for the markets under study. The

The rate of exchange of pep- tide group NH hydrogens with the hydrogens of aqueous solvent is sensitive to neighboring side chains. To evaluate the effects of protein side chains, all 20 naturally occurring amino acids were studied using... more

The rate of exchange of pep- tide group NH hydrogens with the hydrogens of aqueous solvent is sensitive to neighboring side chains. To evaluate the effects of protein side chains, all 20 naturally occurring amino acids were studied using dipeptide models. Both inductive and steric blocking effects are appar- ent. The additivity of nearest-neighbor block- ing and inductive effects was

This paper adds to the literature of the exchange rates, some practical points which will be of great importance for financial markets and especially for the stock market. Firstly, the daily alternation of High and Low on the exchange... more

This paper adds to the literature of the exchange rates, some practical points which will be of great importance for financial markets and especially for the stock market. Firstly, the daily alternation of High and Low on the exchange rates ofEUR/USD follows a uniform distribution and hence if someone bets on this alternation then he puts himself in a position of maximum uncertainty. Secondly, buying and selling always represent the care for the speculators seeking the right time to open or close their operations. Any decision deprived of necessary information of the exchange rate (market prices) and especially their volatility, leads to a high risk and the probability of failure of such a speculator is highly elevated. The four variables Open, High, Low and Close are stationary in first difference. Since the variables High and Low determine completely the daily extent of the exchange rate EUR/USD, one focused on their evolution taking into account the volatility resulting from an A...

This paper evaluates whether Nigeria is ready to adopt inflation targeting (IT), a monetary policy framework that several emerging markets have adopted over the last one decade. The paper reviews literature on selected conditions for... more

This paper evaluates whether Nigeria is ready to adopt inflation targeting (IT), a monetary policy framework that several emerging markets have adopted over the last one decade. The paper reviews literature on selected conditions for successful implementation of IT and then ...

Mediterranean countries have noticeable affect on the world wine exportation. Among these countries France, Greece and Turkey are selected for this study because of different wine market, trade systems and wine policies they have. In this... more

Mediterranean countries have noticeable affect on the world wine exportation. Among these countries France, Greece and Turkey are selected for this study because of different wine market, trade systems and wine policies they have. In this study, cointegration analysis was conducted for real wine export prices and real exchange rates for France, Greece and Turkey. The long term relationships between real exchange rates and real wine export values were explored by using cointegration analysis. Annual data from 1970 to 2003 was used for this analysis and the data sets were found to be integrated of the same order. It was also found that they move together in the long run by Johansen Cointegration Test. Then, Error Correction Model (ECM) was applied to search any short term relations and impacts of exchange rate variations on wine exports. French and Greek monetary policies affect their wine export volume by the years. Therefore, any depreciation of local currency in dollar terms will l...

In Issuing convertible bonds has become a popular way of raising capital by corporations in the last few years. An important subgroup is convertibles linked to a price index or exchange rate. The valuation model of inflation-indexed (or... more

In Issuing convertible bonds has become a popular way of raising capital by corporations in the last few years. An important subgroup is convertibles linked to a price index or exchange rate. The valuation model of inflation-indexed (or equivalently foreign-currency) convertible bonds derived in this paper considers two sources of uncertainty allowing both the underlying stock and the consumer-price-index to be stochastic and incorporates credit risk in the analysis. We approximate the pricing equations by using a Rubinstein (1994) three-dimensional binomial tree, and we describe the numerical solution. We investigate the sensitivity of the theoretical values with respect to the characteristics of the issuer, the economic environment and the security s characteristics (number of principal payments). Moreover, we demonstrate the usefulness and the limitations of the pricing model by using inflation-indexed and foreign-currency linked convertibles traded on the Tel- Aviv stock exchange.

A special case of dollarization is analyzed: quotation of prices in dollars. The proposed explanation is price stickiness: when price adjustment is costly, forms can prefer to fix their prices in a stable foreign currency rather than in... more

A special case of dollarization is analyzed: quotation of prices in dollars. The proposed explanation is price stickiness: when price adjustment is costly, forms can prefer to fix their prices in a stable foreign currency rather than in an unstable domestic one in order to avoid frequent price changes. The proposed model shows how the choice of price-setting currency made by a firm depends on the in ation rate, exchange rate volatility, the pricing currency of competitors and input suppliers, and the shape of the demand function. The model predicts that there are two Nash equilibria in the economy populated by symmetric firms: an equilibrium with uniform ruble pricing and an equilibrium with uniform dollar pricing. It is shown that in economy with less competition a smaller increase in inflation is needed to make an individual firm deviate from the equilibrium with uniform ruble pricing and turn to pricing in dollars.

In the presence of an off-resonance radiofrequency field, recovery of longitudinal magnetization to a steady state is not purely monoexponential. Under reasonable conditions with zero initial magnetization, recovery is nearly exponential... more

In the presence of an off-resonance radiofrequency field, recovery of longitudinal magnetization to a steady state is not purely monoexponential. Under reasonable conditions with zero initial magnetization, recovery is nearly exponential and an effective relaxation rate constant R1eff = 1/T1eff can be obtained. Exact and approximate formulas for R1eff and steady-state magnetization are derived from the Bloch equations for spins

Price discovery is a principal function of financial markets. Yet, especially for dealership markets, financial economists know little about how prices are determined. In this paper I analyze the process of price discovery in the... more

Price discovery is a principal function of financial markets. Yet, especially for dealership markets, financial economists know little about how prices are determined. In this paper I analyze the process of price discovery in the multiple-dealer, interbank spot market for foreign exchange. I use DM/$ quotes to calculate interbank dealers’ “information shares,” their proportional contributions to the variance of innovations in the implicit, efficient exchange rate. These information shares are used to analyze relationships between price discovery and dealer characteristics. Unlike the U.S. equity markets, where regional exchanges contribute relatively little to price discovery, less-active interbank dealers play a large role, impounding most of the information into quotes. A pooled analysis of dealers’ intraday information shares indicates that the lower the relative bid-ask spread and the greater the number of regional foreign exchange branches, the higher is a dealer’s contribution...

This paper evaluates the usefulness of a currency board regime based on Argentina’s experience. Argentina adopted the currency board in March 1991 to put an end to a long history of large macroeconomic imbalances and high inflation that... more

This paper evaluates the usefulness of a currency board regime based on Argentina’s experience. Argentina adopted the currency board in March 1991 to put an end to a long history of large macroeconomic imbalances and high inflation that culminated in the hyperinflation process of 1989-91. The regime has been extremely successful in restoring macroeconomic stability and ensuring low inflation. The adoption of a tight fiscal stance, and of sound polices to strengthen the financial system were critical to ensure the resilience of the economy to respond to adverse external shocks. The paper will argue that a strict exchange rate rule like the one used in Argentina can be a strong alternative to other exchange rate regimes to ensure macroeconomic stability in a globalized world with highly integrated capital markets.

SUMMARY Fruit development and the fate of fruits was followed on 'Imperial Gala' apple (Malusdomestica Borkh.) trees thinned chemically or using shading. The percentage fruit drop, fruit growth rates using callipers and electronic... more

SUMMARY Fruit development and the fate of fruits was followed on 'Imperial Gala' apple (Malusdomestica Borkh.) trees thinned chemically or using shading. The percentage fruit drop, fruit growth rates using callipers and electronic gauges, and whole tree gas exchange rates were measured before, during, and after covering with a shading cloth that blocked 90% of solar radiation, applied for 1

This study presents the significance of the currency crises, discusses the related literature and applies a model of economic vulnerability to Turkey during 1985Q2-2004Q2. The common approach in currency crisis literature is to focus on... more

This study presents the significance of the currency crises, discusses the related literature and applies a model of economic vulnerability to Turkey during 1985Q2-2004Q2. The common approach in currency crisis literature is to focus on the performance of ...

The quality of mortgage loans had been deteriorating since 2001, when interest rates were consistently below 3 per cent for several years. Housing prices dropped substantially since their high in 2006. This article examines the current... more

The quality of mortgage loans had been deteriorating since 2001, when interest rates were consistently below 3 per cent for several years. Housing prices dropped substantially since their high in 2006. This article examines the current credit crisis against the background of recent financial meltdowns in wealthy and emerging markets. We argue that securitisation involves various tensions between market participants and is based on several different criteria that gauge liquidity and creditworthiness. Most often, liquidity and credit enhancement are part of the deal. The problems in the subprime market led directly to the Fed Rescue, in which it guaranteed $30 billion, although Fed's authority over investment banks is murky. The United States had been experiencing subprime crisis, and that affect EU ’s policies on interest rates and exchange rates. The situation also influence Romanian creditors to study more closely a borrower's capability to pay the loan. The possible implic...

External debt plays a vital role in the overall growth and development of a nation. It gives a shape to the economic activities of a country. External debt is more crucial for any developing country like India, where there is always a... more

External debt plays a vital role in the overall growth and development of a nation. It gives a shape to the economic activities of a country. External debt is more crucial for any developing country like India, where there is always a saving-investment gap. To finance viable or profitable investment opportunities in such a country, the only source is external debt either through ECBs, trade credits, loans from the government of another country, or other financial institutions. In the present paper, we have tried to develop the various factors or macroeconomic variables affecting external debt. The period of data covered is seven years from 2013-14 to 2019-20. The source of Data is the official website of RBI. To determine the factors affecting India's external debt, we have applied a multiple regression model, with the help of which we concluded that different macroeconomic variables like trade balance, exchange rate, foreign exchange reserve, etc., affect external debt. Besides all these variables, time is also one of the essential factors affecting external debt. From analysis, we concluded that various macroeconomic variables affect the level of external debt. Therefore, given the other independent variables like forex reserve, exchange rate, trade balance, and period, we can predict the value of external debt to GDP ratio. The paper also deals with testing the efficacy of the multiple regression model, and we found that the model is highly reliable and efficient.