effect of exchange rate fluctuations

Ngày tải lên: 18/02/2014, 11:20

Ngày tải lên: 07/03/2014, 02:20

... competition, has had the effect of limiting competition and promoting the safety of the top four banks The Australian banking market with an index of 1251 in 2005 is moderately concentrated However, this ... Panel D contain the count of the number of positive returns measured for each bank rate change event, in the case of rate increases The graph in Figure shows the CARs of the sampled banks aggregated ... excess of 80 percent of the market We contrasted the response of these stocks to those of non-financial firms using a selection of industry indices These returns were examined for 10 rate increase...

Ngày tải lên: 15/03/2014, 01:20

... policymaker trades off the benefits of ¯ reducing exchange- rate uncertainty against the cost of maintaining a band The term in the first line of (6) is the marginal effect of π on exchange- rate uncertainty ... words, π is the maximal rate of appreciation and π is the ¯ maximal rate of depreciation that the exchange- rate band allows.9 But leaning against the trends of free exchange- rate markets is costly ... the exchange rate In reality, the cost of defending the exchange rate stems from loss of reserves following intervention in the exchange- rate market and from changes in the inter- est rate...

Ngày tải lên: 28/11/2014, 17:18

... fixed exchange rate is preferable, and more on these deeper institutional arrangements The Standard Theory of Choosing an Exchange Rate Regime Much of the analysis of choosing an exchange rate ... for credibly guaranteeing a fixed exchange rate, known as a “hard peg,” or else accept a freely floating exchange rate. 1 Yet neither of these extreme exchange rate regimes has an unblemished record ... exchange rate flexibility It rules out a fixed exchange rate regime but nothing else A country that allows a floating exchange rate may pursue a number of very different monetary policy strategies:...

Ngày tải lên: 28/11/2014, 17:18

... policymaker trades off the benefits of ¯ reducing exchange- rate uncertainty against the cost of maintaining a band The term in the first line of (6) is the marginal effect of π on exchange- rate uncertainty ... words, π is the maximal rate of appreciation and π is the ¯ maximal rate of depreciation that the exchange- rate band allows.9 But leaning against the trends of free exchange- rate markets is costly ... the exchange rate In reality, the cost of defending the exchange rate stems from loss of reserves following intervention in the exchange- rate market and from changes in the inter- est rate...

Ngày tải lên: 29/11/2014, 11:26

... balance using exchange rate 2.3 Impact of exchange rate on inflation The impacts of exchange rate on prices in local currency are estimated by exchange rate pass-through effect Exchange rate pass-through ... the exchange rate elasticity of price level 2.3.1 The mechanism of exchange rate s impacts on price level The impacts of exchange rate on prices in local currency are estimated by exchange rate ... Vietnam’s exchange rate regimes, 1989 - 2012 Time Before 1989 Applied regime Exchange rate regime’s features Multi -exchange - Three official exchange rates rate regime - Free market’s exchange rates...

Ngày tải lên: 05/03/2015, 09:08

... issues of capital account liberalization in China have been studied They are the order of capital account liberalization, the choice of exchange rate regimes and one possible side -effect of liberalization—currency ... account Based on 87 countries’ exchange rate arrangement in three separate years, a Logit model is used to examine the determinants of choosing the appropriate exchange rate regimes The empirical ... reforms, and the design of monetary and exchange rate policy It concludes that capital account liberalization should be approached as an integrated part of comprehensive reform strategies and should...

Ngày tải lên: 02/10/2015, 12:56

... 30 Overvie w of Exchange Rate in Vietnam 31 3.1 Vietnam Exchange Rate Regimes 31 3.2 The Development of Exchange Rate 34 3.3 Vietnam’s Exchange Rate Policy in ... on exchange rate, categories of exchange rate regimes and approaches to exchange rate determination are discussed Next, several studies to detemine the macroeconomic indicators of exchange rate ... OVERVIEW OF EXCHANGE RATE IN VIETNAM This chapter consists of an introduction to Vietnam exchange rate system, the development of exchange rate policies over some time periods, the comparison of these...

Ngày tải lên: 22/10/2015, 13:17

... provided in Tables 50 and 51 of the December issue of RBI Bulletin Table 4: Indices of Real Effective Exchange Rate (REER) and Nominal Effective Exchange Rate (NEER) of the Indian Rupee (36-Currency ... sample period 1993-94 to 2005-06 (so far) Table 3: Indices of Real Effective Exchange Rate (REER) and Nominal Effective Exchange Rate (NEER) of the Indian Rupee (6Currency Trade Based Weights) Year ... trading partner of India The exchange rate of a currency is expressed as the number of units of numaraire (SDRs) per ith currency A rise in ‘e’ or ‘e/ei,’ thus represents an appreciation of rupee relative...

Ngày tải lên: 17/09/2012, 16:47

... results, because of the small numbers of subjects when the data were separated based on gender and caffeine intake, size effects were calculated for each of these analyses The effects of size were ... absorption of fats and carbohydrates [5] In spite of their widespread use and the lack of credible reports regarding adverse effects, controversy has existed regarding the safety of bitter orange ... likewise result in increases in heart rate and blood pressure [8-11] The purpose of this study was to determine the effects of the acute administration of a product containing caffeine from guarana,...

Ngày tải lên: 25/10/2012, 11:10

... production rate was computed on the basis of total gas volume evolution rate and the fraction molar of the measured value of CO2 RESULTS AND DISCUSSION Temperature profiles The bed temperature profiles ... order to determine the effect of the number of the ventilation pipes on the composting rate, an attempt was made to correlate the composting rate with the number of the perforated pipes for air ... initial heating of the top wall of the vertical pipes was effective on shorting the lag period, often observed in the composting operations 5) The effectiveness of placing the perforated pipes vertically...

Ngày tải lên: 05/09/2013, 08:40

... tests of the monetary exchange rate model for three high-inflation countries, Journal of Money, Credit and Banking, 26, 396-411 Meese, R.A and K Rogoff (1983): Empirical Exchange Rate Models of ... prices and interest rate will cause the exchange rate to depreciate in the short run, and a higher foreign price and interest rate will imply an appreciation of the exchange rate Historically, ... weaker exchange rate, while an interest rate increase may have prevented the exchange rate from falling even further (see Norges Bank 2000, p 16.) In the long run however, the exchange rate will...

Ngày tải lên: 15/02/2014, 05:20

... giả định giản lược này, mô hình nói Trang The Economics of Exchange Rate – Mark P Taylor mối liên hệ tỷ giá cân (equibilibrium exchange rate ) với số biến vĩ mô quan trọng khác GDP, lạm phát, ... dụng đánh giá mẫu (in-samples test), lại Trang The Economics of Exchange Rate – Mark P Taylor cho kết ý nghĩa thống kê đánh giá mẫu (out -of- samples test) so sánh với mô hình thay đổi ngẫu nhiên (random ... The Economics of Exchange Rate – Mark P Taylor Bài nghiên cứu Taylor tổng hợp từ tất mà nhà kinh tế học nghiên cứu tỷ...

Ngày tải lên: 12/03/2014, 16:05

... 1.05 Effective coefcient (characterizes the amount of ANT dimer per mg of total mitochondrial protein) Constant of direct ANT exchange Constant of reverse ANT exchange Dissociation constant of ... 2009 FEBS 6945 Modeling of ANT E Metelkin et al Fig Effect of nigericin on ATPADP steady-state exchange rate mediated by ANT Bar graph of ATPADP steady-state exchange rate mediated by ANT in ... symbols indicate the calibrated DWm data obtained from panel 6C of [1] (B) Plot of ATP efux rate versus time (C) Time dependence of O2 consumption rate (D) The kinetics of total matrix ADP concentration...

Ngày tải lên: 16/03/2014, 00:20

... joint sensitivity of the rates of return of common stocks of large US banking institutions to interest rate, exchange rate and market risk factors Consideration of exchange rates as a factor ... picture of the effect of exchange rates on bank stock returns In the money-center equation the coefficient of the exchange rate variable is significant at the 0.01 level whereas the coefficient of ... regression of the firm’s stock returns on exchange rate changes, while Eun and Resnick (1988) show the empirical significance of systematic exchange rate risk Regarding the international activities of...

Ngày tải lên: 22/03/2014, 17:20

... state-dependent exchange- rate rule, which induces a real appreciation of the trade-weighted US$ exchange rate of about 20% for about two years, and an output gap of 1.8 % The exchange rate peg appears ... nominal rates and occurs almost 40% of the time with a rate of 1%, which corresponds, for example, to an inflation target of 0% and an equilibrium real rate of 1% Figure 3: Distortion of Stationary ... 2003 Figure 5: Distortion of Stationary Distributions of the Determinants of Output Ex-Ante Long-Term Real Interest Rate Bias of Mean Real Effective Exchange Rate Bias of Mean 0.32 0.10 0.24 0.00...

Ngày tải lên: 22/03/2014, 23:20

... enzyme and the vertebrate BVR-A family members It is often the case that, when determining the effect of pH on the kinetic parameters of a two-substrate enzyme, one substrate is held at 10 · ... variation of initial rate with the concentration of the second substrate is then used to estimate kcat and the Km for the variable substrate However, the assumption that a concentration that saturates ... and T J Mantle Effect of pH on the dimeric Synechocystis BVR-A Table Initial rate kinetic parameters for product inhibition studies of sBVR-A Inhibitor Variable substrate Fixed substrate Inhibition...

Ngày tải lên: 23/03/2014, 05:22

... with respect to interest rate versus currency derivatives separately, affect a bank’s interest rate and exchange rate risk profile Comparison of the effect of interest rate versus currency derivative ... interest rate and exchange rate risks Particularly noteworthy is the influence of currency derivatives on exchange rate betas Keywords: Off-balance sheet, Bank risk Derivatives, Interest rate risk, Exchange ... The results of this study provide the first formal estimates of the joint effect of derivative exposures on the systematic interest rate and exchange rate risks of U S banks The rest of the paper...

Ngày tải lên: 29/03/2014, 13:20