the exchange rate regime and exporter performance during commodity price swings

... observes x and the fraction of speculators who decide to attack the band, α, and then decides whether or not to defend the band If he does, the exchange rate stays at the boundary of the band and the ... exchange- rate bands The paper focuses on the trade-offs that determine the optimal band width by analyzing the strategic interaction between the ex ante choice of exchange- rate regime and the ... realization is outside the band, the policymaker is committed to intervene and keep the exchange rate at one of the boundaries of the band.8 Thus, given e−1 , the exchange- rate band ¯ induces a...

Ngày tải lên: 28/11/2014, 17:18

... observes x and the fraction of speculators who decide to attack the band, α, and then decides whether or not to defend the band If he does, the exchange rate stays at the boundary of the band and the ... exchange- rate bands The paper focuses on the trade-offs that determine the optimal band width by analyzing the strategic interaction between the ex ante choice of exchange- rate regime and the ... realization is outside the band, the policymaker is committed to intervene and keep the exchange rate at one of the boundaries of the band.8 Thus, given e−1 , the exchange- rate band ¯ induces a...

Ngày tải lên: 29/11/2014, 11:26

... a strategy By standing ready to sell Yen and buy foreign exchange at the pegged exchange rate, the central bank will be able to enforce the devaluation Once the peg is credible, exchange rate ... future exchange rates will reflect the policy rule and help in stabilizing the economy The necessary level of the exchange rate may be achieved by standing ready to buy foreign currency at the rate ... rate between countries i and j, e(i,k) the bilateral real exchange rate between countries i and k, and consequently equation (M-7) defines the trade-weighted real exchange rate for country i The...

Ngày tải lên: 22/03/2014, 23:20

... enables them to incorporate the links between their foreign exchange holdings and their other activities In this paper, we also take a broad view of foreign exchange risk: we gauge the exchange rate ... portfolio of foreign exchange instruments and the position implicit in its other We estimate the equation at both daily and monthly frequencies, and the returns and the exchange rate appreciation ... through their influence on the extent of foreign competition, the demand for loans, and other aspects of banking conditions The purpose of this paper is to examine the size and significance of the exchange...

Ngày tải lên: 29/03/2014, 13:20

... foreign exchange rate regimes in the world The first trend - Unifying the exchange rate regime: According to the IMF, the transition from the regime of two or more exchange rates to unified exchange ... at the same equal rate, shared a common mechanism 1.2 Categories of exchange rate 1.2.1 Definition of exchange rate and exchange rate regime The exchange rate is a comparison of price between the ... types: the interbank exchange rate, exchange rate of commercial banks, accounting exchange rates 1.2.2.2 Nominal and real exchange rate Nominal exchange rate is the exchange rate which does not...

Ngày tải lên: 04/12/2014, 08:49

... đó, cho dù giá gạo thị trường sau ba tháng Forward contracts Forward rate & Interest rate parity – IRP Tỷ giá kỳ hạn (forward rate) tỷ giá áp dụng tương lai xác định Tỷ giá áp dụng cho giao dịch ... tài sản sở (ngoại tệ) @ X Call St>X Lỗ vốn Hòa vốn (at the money/deep) Hòa vốn St

Ngày tải lên: 09/05/2015, 21:15

... for prices for these countries IV EXCHANGE RATE The Special Drawing Right (SDR) has been chosen as the numeraire currency in the construction of REER/ NEER indices since the exchange value of the ... PRICES In line with the existing practice, the revised indices (both 6-currency and 36-currency) use the wholesale price index (WPI) as a proxy for Indian prices and the consumer price index (CPI) ... to the currency i and vice versa, where e represents exchange rate of Indian rupee against the numeraire, SDR in indexed form and ei represents exchange rate of foreign currency ‘i’ against the...

Ngày tải lên: 17/09/2012, 16:47

... domestic 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 ... of the domestic price, pt* is the log of the foreign price, and vt is the log of the nominal exchange rate. 2 However, since trade is costly, PPP will not hold continuously It is therefore informative...

Ngày tải lên: 15/02/2014, 05:20

... between the bid rate and the ask rate quoted in the bank-client market Yet in practice, the official exchange rate has frequently been set below the bid rate quoted in the client market on the previous ... on the exchange rate (i.e., the VND was depreciating) and commercial banks consistently quoted their trading rates at the upper bound of the allowed band, in principle the average interbank rate ... through the interaction between supply and demand in the market The regime is ‘managed’ in that the exchange rate can move only within a stipulated band, the SBV remains a major participant in the...

Ngày tải lên: 07/03/2014, 18:20

... tế Với 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 ... gia Trang The Economics of Exchange Rate – Mark P Taylor thị trường họ kỳ vọng mức vào hội kinh doanh Taylor trình bày mở rộng phân tích thêm hai quy luật mà thị trường ngoại hối tuân theo lý thuyết ... (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 walk) Các mô hình...

Ngày tải lên: 12/03/2014, 16:05

... scientific and engineering research, dedicated to the furtherance of science and technology and to their use for the general welfare Upon the authority of the charter granted to it by the Congress ... rations and planned menus meet the military standards The current military nutrient standards (MDRIs and NSORs) were revised in 2001 (U.S Departments of the Army, Navy, and Air Force, 2001) The standards ... assistance was invaluable during the committee’s work in that they helped delineate the task and provided numerous reports and other data to the committee in a timely manner The committee wants to...

Ngày tải lên: 14/03/2014, 10:20

... water and sanitation utilities to measure their performance both against their own past performance and against the performance of similar utilities at the national, regional, and global levels The ... thorough understanding of their performance in relation to that of their peers and to improve their managers’ strategic focus Some of these managers have used their improved understanding to formulate ... utilities and reviews their performance jointly with the data collector Data Verification at the Uploading Stage The IBNET team and its experts examine for sense and consistency the calculated performance...

Ngày tải lên: 22/03/2014, 16:22

... metatarsal, and base of fifth metatarsal The rearfoot segment was formed by three markers bisecting the heel (distal, wand, and proximal), and markers placed on the lateral calcaneus and sustentaculum ... form the thigh and hip segments: lateral aspect of the femur (5 cm wand), the anterior superior iliac spine, and the sacrum (see Figure 1) A relaxed standing calibration trial was then captured ... symptoms) limb The tested limb in the control group was randomly selected to match the proportion of left and right limbs evaluated in the PFPS group Prior to motion analysis testing, the FPI was...

Ngày tải lên: 10/08/2014, 21:24

... contributed to the acquisition and the analysis of the data GM contributed to the study conception design and interpretation of data GT participated in the design of the study, and the drafting and revision ... and the critical reviewing of the manuscript 17 All the authors have read and approved the final manuscript 18 Acknowledgements The authors would like to thank Jan-Oliver Sprenger, Sandra Rütherhenke ... Competing interests The authors declare that they have no competing interests Authors' contributions SB participated in the acquisition and interpretation of the data and drafted the manuscript TG...

Ngày tải lên: 11/08/2014, 07:20

... two strategic choices I investigate are the choice to collaborate with foreign firms and the choice to exit the market I examine the strategic choices and the performance consequences of strategic ... agency theory and an institutional theory perspective to predict the strategic choices firms make and the performance consequences of these choices during a period of institutional transition The ... support from my thesis committee members, Kulwant Singh and Chung Chi-Nien during the duration of the Ph D program and at various stages of the development of my thesis They challenged me and stimulated...

Ngày tải lên: 12/09/2015, 10:54

... in the slope of the curve in the figure as the curve passes from regime- 1 to regime- 2 The two regimes, represent different thermal transport mechanisms associated with the slider supporting the ... all the reading process based methods Therefore, they are suitable to characterize the flying height variation during the dynamic operations of the slider, such as the load/unload process and the ... frequencies The invention uses the relationship between the amplitude of selected harmonic(s) and the head disk spacing to characterize the head disk spacing The governing equation for the method is the...

Ngày tải lên: 05/10/2015, 22:15

Ngày tải lên: 18/02/2014, 11:20

... (1) where Δet is the change in the logarithm of the exchange rate at time t The mean of the exchange rate returns process, μ, the autocorrelation coefficient, ρ, and the variance of the innovation, ... measured by the Bloomberg survey For the other eighteen instances, the market was either surprised that the MPC changed the policy rate or was surprised by the extent of the change There were ... changed by the inclusion of these variables Taken as a whole, therefore, there is evidence that exchange rate volatility switches between low and high regimes during the morning prior to the end...

Ngày tải lên: 06/03/2014, 14:20

Ngày tải lên: 07/03/2014, 02:20

... information about the two deposit rates and the two loan rates that will prevail during the period but imperfect information about the exchange rate and default-free rate that will prevail over the same ... indicates, the innovation to profits is based on innovations to the exchange rate, nominal interest rate, and the foreign and domestic loan default rates Both the sign and magnitude of the coefficients ... for the role of the exchange rate on bank stock prices This difference arises because actual data incorporate movements in both the expected and unexpected components of the exchange rate To the...

Ngày tải lên: 22/03/2014, 17:20