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DTS, monnaies et or
			: Sixième exposé sur les changements intervenus dans le domaine juridique

DTS, monnaies et or : Sixième exposé sur les changements intervenus dans le domaine juridique »

Series: Pamphlet Series

Author(s): Joseph Gold

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1983

Language: French

DOI: http://dx.doi.org/10.5089/9781451980516.054

ISBN: 9781451980516

Keywords: gold, exchange rates, court, multiple currency practices, exchange rate, courts, conventions, claims, exchange transactions, claim

This paper presents the sixth survey of developments in international and national monetary law and practice involving special drawing rights (SDRs), currencies, and gold. The paper highlights that a member's curre...

Adopter un taux de change flexible Comment, quand et dans quels délais?
			: How, When, and How Fast?

Adopter un taux de change flexible Comment, quand et dans quels délais? : How, When, and How Fast? »

Series: Economic Issues

Author(s): Cem Karacadag , Gilda Fernandez , and Rupa Duttagupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2006

Language: French

DOI: http://dx.doi.org/10.5089/9781589065390.051

ISBN: 9781589065390

Keywords: exchange rate, foreign exchange, inflation, foreign currency, foreign exchange market, monetary policy, exchange rate flexibility, exchange rate risk, exchange rate regime, flexible exchange rate

A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transiti...

Toward An Effective Supervision of Partially Dollarized Banking Systems

Toward An Effective Supervision of Partially Dollarized Banking Systems »

Source: Toward An Effective Supervision of Partially Dollarized Banking Systems

Volume/Issue: 2006/32

Series: IMF Working Papers

Author(s): Antonio Garcia Pascual , Jorge Cayazzo , Socorro Heysen , and Eva Gutierrez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862928

Keywords: credit risk, banking, foreign exchange, credit risks

The paper presents a supervisory framework that addresses the vulnerabilities of partially dollarized banking systems. The tendency to underprice systemic liquidity risk and currency-induced credit risk creates vul...

Mexico'S Currency Risk Premia in 1992-1994

Mexico'S Currency Risk Premia in 1992-1994 »

Source: Mexico'S Currency Risk Premia in 1992-1994 : A Closer Look At the Interest Rate Differentials

Volume/Issue: 1996/41

Series: IMF Working Papers

Author(s): Alejandro Werner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1996

ISBN: 9781451846058

Keywords: exchange rate, equation, currency risk, survey, correlation

This paper studies the behavior of interest rate differentials in Mexico during the 1992-94 period. It shows that the currency risk premia is positively related to the share of peso denominated debt in total debt a...

The Mexican Peso Crisis

The Mexican Peso Crisis »

Source: The Mexican Peso Crisis : Overview and Analysis of Credibility Factors

Volume/Issue: 1996/6

Series: IMF Working Papers

Author(s): Paul Masson , and Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1996

ISBN: 9781451929096

Keywords: exchange rate, probability, equation, real exchange rate, currency risk

This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness t...

Self-Fulfilling Risk Predictions

Self-Fulfilling Risk Predictions »

Source: Self-Fulfilling Risk Predictions : An Application to Speculative Attacks

Volume/Issue: 1998/124

Series: IMF Working Papers

Author(s): Robert Flood , and Nancy Marion

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451854695

Keywords: Currency crisis, devaluation, risk premium, exchange rate, fixed exchange rate, bond, international reserves, shadow exchange rate

The paper shows that changing market beliefs about currency risk can generate a self-fulfilling speculative attack on a fixed exchange rate. The attack does not require a later change in policies to make it profita...

U.S. Dollar Dynamics

U.S. Dollar Dynamics »

Source: U.S. Dollar Dynamics : How Important Are Policy Divergence and FX Risk Premiums?

Volume/Issue: 2016/125

Series: IMF Working Papers

Author(s): Ravi Balakrishnan , Stefan Laseen , and Andrea Pescatori

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2016

ISBN: 9781498348416

Keywords: Foreign exchange, monetary policy shocks, FX risk premium, SVAR

We investigate the drivers of dynamics of major U.S. FX bilaterals. We first construct a novel measure of FX risk premiums using Consensus exchange rate forecasts. We then use VAR analysis to show that (i) risk pre...

Transactions Costs and Vehicle Currencies

Transactions Costs and Vehicle Currencies »

Source: Transactions Costs and Vehicle Currencies

Volume/Issue: 1989/96

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 November 1989

ISBN: 9781451949902

Keywords: transactions costs, foreign exchange, exchange rate, exchange rate risk, world trade

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

The Pros and Cons of Full Dollarization

The Pros and Cons of Full Dollarization »

Source: The Pros and Cons of Full Dollarization

Volume/Issue: 2000/50

Series: IMF Working Papers

Author(s): Eduardo Borensztein , and Andrew Berg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

ISBN: 9781451846966

Keywords: Currency Crises, Monetary Union, exchange rate, bonds, currency crisis, currency risk, real exchange rate

We analyze the costs and benefits of full dollarization compared to its closest alternative, a currency board, quantifying for Argentina where possible. Potential advantages include lower borrowing costs and deeper...

A Model of Contagious Currency Crises with Application to Argentina

A Model of Contagious Currency Crises with Application to Argentina »

Source: A Model of Contagious Currency Crises with Application to Argentina

Volume/Issue: 1999/29

Series: IMF Working Papers

Author(s): Nada Choueiri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1999

ISBN: 9781451844788

Keywords: contagion, multiple equilibria, risk aversion, exchange rate, covariance, equation, exchange rates, probability

This paper proposes a model of contagious currency crises: crises transmit across countries by raising the risk premium on government bonds. Three types of equilibria can occur: a “no-collapse” equili...