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Capital Mobility and Exchange Market Intervention in Developing Countries

Capital Mobility and Exchange Market Intervention in Developing Countries »

Volume/Issue: 1996/131

Series: IMF Working Papers

Author(s): Liliana Rojas-Suárez , Donald Mathieson , and Michael Dooley

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1996

DOI: http://dx.doi.org/10.5089/9781451855234.001

ISBN: 9781451855234

Keywords: capital flows, capital mobility, private capital flows, foreign exchange, capital controls

Official controls on interest rates and capital flows rule out the use of traditional interest rate parity conditions to measure changes in the degree of capital mobility confronting developing countries. This pape...

Current Account Surpluses and the Interest Rate Island in Switzerland

Current Account Surpluses and the Interest Rate Island in Switzerland »

Volume/Issue: 1995/24

Series: IMF Working Papers

Author(s): Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1995

DOI: http://dx.doi.org/10.5089/9781451844085.001

ISBN: 9781451844085

Keywords: foreign assets, net foreign assets, foreign currency, foreign exchange, international standards

This paper describes some long-run aspects of the Swiss balance of payments, highlighting two macroeconomic phenomena that make Switzerland stand out among other countries: first, it has had a persistent current ac...

Determinants of the Spread in a Two-Tier Foreign Exchange Market

Determinants of the Spread in a Two-Tier Foreign Exchange Market »

Volume/Issue: 1988/67

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 July 1988

DOI: http://dx.doi.org/10.5089/9781451961348.001

ISBN: 9781451961348

Keywords: exchange rates, exchange rate, foreign exchange, exchange markets

The literature on two-tier foreign exchange markets has concentrated on relating various shocks to the spread between the exchange rates relevant to the two tiers of the exchange market. In some earlier work we fou...

Equilibrium Exchange Rates
			: Assessment Methodologies

Equilibrium Exchange Rates : Assessment Methodologies »

Volume/Issue: 2007/296

Series: IMF Working Papers

Author(s): Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

DOI: http://dx.doi.org/10.5089/9781451868593.001

ISBN: 9781451868593

Keywords: Equilibrium exchange rates, exchange rates, exchange rate, real exchange rate, real exchange rates, foreign exchange,

The paper describes six different methodologies that have been used to assess the equilibrium values of exchange rates and discusses their limitations. It applies several of the approaches to data for the United St...

Floating Exchange Rates in Africa

Floating Exchange Rates in Africa »

Volume/Issue: 1988/47

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 1988

DOI: http://dx.doi.org/10.5089/9781451972719.001

ISBN: 9781451972719

Keywords: exchange rates, foreign exchange, exchange rate, exchange markets, floating exchange rate

The paper examines the experiences of nine African countries that have introduced floating exchange rate regimes in the 1980s. The various types of market arrangements are explored, focusing on the roles of market...

Intervention, Interest Rates, and Charts
			: Three Essays in International Finance

Intervention, Interest Rates, and Charts : Three Essays in International Finance »

Volume/Issue: 1991/106

Series: IMF Working Papers

Author(s): Mark Taylor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1991

DOI: http://dx.doi.org/10.5089/9781451947038.001

ISBN: 9781451947038

Keywords: foreign exchange, exchange rate, exchange rates, foreign exchange market, financial markets

This paper contains essays on sterilized intervention, on covered interest rate parity, and on chartist analysis in financial markets. Each essay contains a definition, brief survey of the empirical evidence and ov...

Measuring Financial Barriers Among East African Community Countries

Measuring Financial Barriers Among East African Community Countries »

Volume/Issue: 2010/194

Series: IMF Working Papers

Author(s): Yi David Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455205240.001

ISBN: 9781455205240

Keywords: Forward rates, financial barrier, exchange rates, exchange rate, foreign exchange market, International Finance: General,

This paper seeks to quantify existing financial barriers among East African Community (EAC) member countries based on analysis of each member country's foreign exchange market. The primary contribution of this pape...

Risk Neutrality and the Two-Tier Foreign Exchange Market
			: Evidence from Belgium

Risk Neutrality and the Two-Tier Foreign Exchange Market : Evidence from Belgium »

Volume/Issue: 1989/83

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 1989

DOI: http://dx.doi.org/10.5089/9781451954463.001

ISBN: 9781451954463

Keywords: exchange rates, foreign exchange, exchange rate, exchange markets, dual exchange rates

In this paper we develop and test a model of a utility maximizing representative agent operating in the Belgium-Luxembourg two-tier foreign exchange market. Our tests examine and fail to reject a risk neutral repre...

Structural Factors Affecting Exchange Rate Volatility
			: A Cross-Section Study

Structural Factors Affecting Exchange Rate Volatility : A Cross-Section Study »

Volume/Issue: 2004/147

Series: IMF Working Papers

Author(s): Jorge Canales Kriljenko , and Karl Habermeier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2004

DOI: http://dx.doi.org/10.5089/9781451856767.001

ISBN: 9781451856767

Keywords: Exchange rate, volatility, exchange rate volatility, exchange rates, foreign exchange market, Macroeconomic Aspects of International Trade and Finance,

The paper examines factors affecting exchange rate volatility, with an emphasis on structural features of the foreign exchange regime. It draws for the first time on detailed survey data collected by the IMF on for...

the Simplest Test of Target Zone Credibility

the Simplest Test of Target Zone Credibility »

Volume/Issue: 1990/106

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

DOI: http://dx.doi.org/10.5089/9781451947007.001

ISBN: 9781451947007

Keywords: Exchange rates, target zones, credibility, devaluation risks, term structure, interest rate bands, exchange rate, foreign exchange, exchange rate band, capital flows

Under the assumption of no arbitrage exchange rate target zone credibility is tested by whether domestic interest rates fall within “rate-of-return bands” between the maximum and minimum home-currency...