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The Stability of Currency Boards

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Book Series: cege-Schriften ISBN: 9783631520314 Year: Pages: 238 DOI: 10.3726/b14167 Language: English
Publisher: Peter Lang International Academic Publishing Group
Subject: Economics --- Political Science
Added to DOAB on : 2019-01-15 13:32:14
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Abstract

The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.

Currency Crisis

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ISBN: 9783039215782 / 9783039215799 Year: Pages: 126 DOI: 10.3390/books978-3-03921-579-9 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Economics
Added to DOAB on : 2019-12-09 11:49:15
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Financial crises are nothing new in the annals of history of the capitalistic path of economic development; indeed, they are part of business cycle. The theoretical basis for this is well entrenched in the concept of ‘Keynesian Cross’. Tales of crises date back centuries, but have taken a new turn as the race for more globalization goes on, which involves liberalizing trade and opening up the financial sector. This has made many nations vulnerable to crises that are likely to be repeated, perhaps frequently. Based on recent experience, warning signs can be seen in the dollar-centric exchange rate, which is the mainstay for the stability of the current global financial system. To a careful observer, there is clearly fatigue in the system.

Empirical Finance

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ISBN: 9783038977063 Year: Pages: 276 DOI: 10.3390/books978-3-03897-707-0 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Economics
Added to DOAB on : 2019-04-05 10:34:31
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There is no denying the role of empirical research in finance and the remarkable progress of empirical techniques in this research field. This Special Issue focuses on the broad topic of “Empirical Finance” and includes novel empirical research associated with financial data. One example includes the application of novel empirical techniques, such as machine learning, data mining, wavelet transform, copula analysis, and TV-VAR, to financial data. The Special Issue includes contributions on empirical finance, such as algorithmic trading, market efficiency, market microstructure, portfolio theory and asset allocation, asset pricing models, liquidity risk premium, currency crisis, return predictability, and volatility modeling.

Keywords

text similarity --- text mining --- machine learning --- SVM --- neural network --- LSTM --- credit risk --- ensemble learning --- deep learning --- bagging --- random forest --- boosting --- deep neural network --- causality-in-variance --- cross-correlation function --- housing and stock markets --- algorithmic trading --- take profit --- stop loss --- MACD --- ATR --- city banks --- dependence structure --- copula --- n/a --- market microstructure --- price discovery --- latency --- currency crisis --- random forests --- wavelet transform --- predictive accuracy --- housing price --- bank credit --- housing loans --- real estate development loans --- TVP-VAR model --- exchange rate --- volatility --- exports --- ARDL --- Vietnam --- crude oil futures prices forecasting --- convolutional neural networks --- short-term forecasting --- utility of international currency --- inertia --- liquidity risk premium --- US dollar --- Japanese yen --- cointegration --- statistical arbitrage --- natural gas --- wholesale electricity --- futures market --- spark spread --- earnings management --- earnings manipulation --- earnings quality --- initial public offering --- IPO --- asset pricing model --- data mining --- bankruptcy prediction --- financial and non-financial variables --- institutional investors’ shareholdings --- panel data model --- piecewise regression model --- global financial crisis --- gold return --- asymmetric dependence --- financial market stress --- robust regression --- quantile regression --- structural break --- flight to quality

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