Exchange rates in developed and emerging markets : practices, challenges and economic implications / editor, Mohsen Bahmani-Oskooee.

Format:

Book

Contributor:

Bahmani-Oskooee, Mohsen.

Series:

Economic Issues, Problems and Perspectives

Language:

English

Subjects (All):

Foreign exchange rates--Developing countries.

Foreign exchange--Developing countries.

Foreign exchange market--Developing countries.

Physical Description:

1 online resource (248 p.)

Place of Publication:

Hauppauge, NY : Nova Science Publishers, Inc., c2013.

Language Note:

English

Summary:

Exchange rate is perhaps one of the most important macroeconomic variables that link the economy of one country with the rest of the world. When it changes, it affects almost all other sectors and many other macro variables. For example, when a country's currency depreciates, its exports become cheaper in terms of foreign currency and imports more expensive in terms of domestic currency. By exporting more and importing less, the trade balance is improved. Or when domestic currency depreciates (foreign currency appreciates), domestic currency value of foreign assets held by domestic residents i

Contents:

""EXCHANGE RATES IN DEVELOPED AND EMERGING MARKETS: PRACTICES, CHALLENGES AND ECONOMIC IMPLICATIONS""; ""EXCHANGE RATES IN DEVELOPED AND EMERGING MARKETS: PRACTICES, CHALLENGES AND ECONOMIC IMPLICATIONS""; ""Library of Congress Cataloging-in-Publication Data""; ""Contents""; ""Chapter 1: Exchange Rate Volatility and the Demand for Money in China""; ""Abstract""; ""I. Introduction""; ""II. The Literature""; ""III. The Money Demand Model and the Method""; ""IV. The Results""; ""Summary and Conclusion""; ""Appendix""; ""Data Definition and Sources""; ""References""

""Chapter 2: Exchange Rate Dynamics, Speculation and Localization of Monetary Policy""""Abstract""; ""Chapter 3: Which Korean Industry Will Benefit from the Weakening Won?""; ""ABSTRACT""; ""Introduction""; ""I. The Method""; ""II. The Results""; ""Summary and Conclusion""; ""References""; ""Chapter 4: A Microstructural Effect of Japanese Official Intervention in the Yen/Dollar Foreign Exchange Market""; ""Abstract""; ""Introduction""; ""1. The Microstructure Model and Estimation Method""; ""2. Empirical Results""; ""2.1 Data""; ""2.2. Estimation Results""; ""Conclusion""; ""Acknowledgments""

""References""""Chapter 5: Dual-Currency System as a Way to Relieve the Crisis of Some Euro Zone Countries""; ""Abstract""; ""Introduction""; ""Why Reintroduction of a National Currency""; ""May be Necessary""; ""Is an Orderly, Low-Cost Exit from the European""; ""Monetary Union Possible?""; ""A Solution: To Reintroduce a National Currency""; ""and Stay in EMU""; ""Conclusion""; ""Bibliography""; ""Chapter 6: Do Nominal Devaluations Lead to Real Devaluations? Evidence from Emerging Economies""; ""Abstract""; ""I. Introduction""; ""II. The Model and Method""; ""III. The Empirical Results""

""Summary and Conclusion""""References""; ""Chapter 7: Foreign Exchange Rates and Stock Prices: Evidence from Major African Markets""; ""Abstract""; ""1. Introduction""; ""2. Related Literature""; ""3. Empirical Procedures""; ""3.1. The Basic Model""; ""3.2. Cointegration Test""; ""3.3. Causality Test""; ""3.4. The Data""; ""4. Empirical Results""; ""4.1. Results of Cointegration Tests""; ""4.3. Results of Multivariate Granger Causality Tests""; ""Conclusion and Policy Implications""; ""Acknowledgment""; ""References""; ""Chapter 8: On the Optimal Exchange Rate Policy for the GCC Countries""

""Abstract""""1. Introduction""; ""2. The Model""; ""Consumers""; ""Production Technologies""; ""Introducing Price Rigidity""; ""Producer currency pricing""; ""Local currency pricing""; ""The Budget Constraints""; ""Government Budget Constraint""; ""Effects of Exchange Rates on Prices""; ""Monetary Policies/Exchange Rate Regimes and Shocks""; ""3. Model Solution""; ""Market Clearing Conditions""; ""Flexible Price Solution""; ""Producer Currency Pricing""; ""Local Currency Pricing""; ""4. Welfare Evaluations""; ""Conclusion""; ""References""

""Chapter 9: The Effects of Central Banks� Independence on Inflation Outcomes in Emerging Countries: Does the Choice of Exchange Regime Matter?""

Notes:

Description based upon print version of record.

Description based on print version record.

Includes bibliographical references and index.

ISBN:

1-62808-200-3

OCLC:

854585543