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Exchange Market Pressure on the Croatian Kuna

Author

Listed:
  • Srdjan Tatomir

    (Institute of Public Finance, Zagreb, Croatia; University of Amsterdam)

Abstract

Currency crises exert strong pressure on currencies often causing costly economic adjustment. A measure of exchange market pressure (EMP) gauges the severity of such tensions. Measuring EMP is important for monetary authorities that manage exchange rates. It is also relevant in academic research that studies currency crises. A precise EMP measure is therefore important and this paper re-examines the measurement of EMP on the Croatian kuna. It improves it by considering intervention data and thresholds that account for the EMP distribution. It also tests the robustness of weights. A discussion of the results demonstrates a modest improvement over the previous measure and concludes that the new EMP on the Croatian kuna should be used in future research.

Suggested Citation

  • Srdjan Tatomir, 2009. "Exchange Market Pressure on the Croatian Kuna," Financial Theory and Practice, Institute of Public Finance, vol. 33(2), pages 187-199.
    • Handle: RePEc:ipf:finteo:v:33:y:2009:i:2:p:187-199
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    File URL: http://www.ijf.hr/eng/FTP/2009/2/tatomir.pdf
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    Cited by:

    1. MARKOVIĆ Milan & MARJANOVIĆ Ivana, 2022. "Vulnerability To The Currency Crisis: The Case Of Serbia," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 14(2), pages 17-21, December.
    2. Domagoj Sajter, 2015. "When Can We Call It “Extraordinary Circumstances”? Examination of Currency Exchange Rate Shocks," MIC 2015: Managing Sustainable Growth; Proceedings of the Joint International Conference, Portorož, Slovenia, 28–30 May 2015,, University of Primorska, Faculty of Management Koper.

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