Journal ArticleDOI
Can exchange rate predictability be achieved without monetary convergence?: Evidence from the EMS
Reads0
Chats0
TLDR
The evidence presented in this article suggests that the European Monetary System has coincided with more predictable exchange rates (nominal and real) between France, Germany and Italy, but it is surprising that the conditional variance of real interest differentials between these countries does not appear to have fallen (unless the disturbances are mostly real, in which case fixed rates are suboptimal).About:
This article is published in European Economic Review.The article was published on 1984-07-01. It has received 82 citations till now. The article focuses on the topics: Monetary policy & European Monetary System.read more
Citations
More filters
Book ChapterDOI
Chapter 33 Empirical research on nominal exchange rates
TL;DR: In this article, the authors present a critical survey and an interpretation of recent exchange rate research, focusing on empirical results for exchange rates among major industrialized countries and examining the issue of speculative bubbles.
Journal ArticleDOI
Capital Mobility in the World Economy: Theory and Measurement
TL;DR: In this article, a critical assessment of some recent empirical evidence on the extent of international capital mobility is presented, and the major conclusion is that while much of this evidence is difficult to interpret without ambiguity, it is consistent with a world economy in which the degree of capital mobility was high and increasing.
ReportDOI
A Survey of Empirical Research on Nominal Exchange Rates
TL;DR: The authors survey the empirical literature on floating nominal exchange rates over the past decade and conclude that the observed difference in exchange rate and macroeconomic volatility under different nominal exchange rate regimes makes them skeptical of the first view.
Book
Investment in capital markets
TL;DR: In this paper, the authors discuss the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language.
References
More filters
Journal ArticleDOI
Time Series Analysis: Forecasting and Control
TL;DR: Time Series Analysis and Forecasting: principles and practice as mentioned in this paper The Oxford Handbook of Quantitative Methods, Vol. 3, No. 2: Statistical AnalysisTime-Series ForecastingPractical Time-Series AnalysisApplied Bayesian Forecasting and Time Series AnalysisSAS for Forecasting Time SeriesApplied Time Series analysisTime Series analysisElements of Nonlinear Time Series analyses and forecastingTime series analysis and forecasting by Example.
Book
Introduction to the Theory of Statistics
TL;DR: In this article, a tabular summary of parametric families of distributions is presented, along with a parametric point estimation method and a nonparametric interval estimation method for point estimation.
Journal ArticleDOI
Empirical exchange rate models of the seventies: Do they fit out of sample?
Richard Meese,Kenneth Rogoff +1 more
TL;DR: The authors compared the performance of various structural and time series exchange rate models, and found that a random walk model performs as well as any estimated model at one to twelve month horizons for the dollar/pound, dollar/mark, dollar /yen and trade-weighted dollar exchange rates.
Journal ArticleDOI
Efficient tests for normality, homoscedasticity and serial independence of regression residuals
Carlos M. Jarque,Anil K. Bera +1 more
TL;DR: In this paper, the Lagrange multiplier procedure is used to derive efficient joint tests for residual normality, homoscedasticity and serial independence, which are simple to compute and asymptotically distributed as χ2.
Journal ArticleDOI
Introduction to the Theory of Statistics.
Jacob Wolfowitz,A. M. Mood +1 more
TL;DR: In this article, a tabular summary of parametric families of distributions is presented, along with a parametric point estimation method and a nonparametric interval estimation method for point estimation.
Related Papers (5)
The advantage of tying one's hands: EMS discipline and Central Bank credibility
Francesco Giavazzi,Marco Pagano +1 more