Foreign Exchange Rate Regimes and Foreign. Exchange Markets in Transitive Economies
In this paper we discuss the issue of the choice of foreign exchange rate regimes in transitive economies, their effect on the relative changes and the volatility of the foreign exchange rate and the development of the national foreign exchange market. The results of our analysis indicate that the choice of the foreign exchange rate regime is not a passive factor regarding both average relative changes in exchange rates and volatility as measured by the standard deviation. They also show that increased volatility of spot rates and a growing interest rate differential lead to the growth of the share of outright forwards and swaps (e.g. transactions that might be used for hedging) in relation to spot transactions.
Volume (Year): 2011 (2011)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: nam. W. Churchilla 4, 130 67 Praha 3|
Phone: (02) 24 09 51 11
Fax: (02) 24 22 06 57
Web page: http://www.vse.cz/
More information through EDIRC
|Order Information:|| Postal: Editorial office Prague Economic Papers, University of Economics, nám. W. Churchilla 4, 130 67 Praha 3, Czech Republic|
Web: http://www.vse.cz/pep/ Email:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Tibor Hlédik, 2004. "Quantifying the Second-Round Effects of Supply-Side Shocks on Inflation," Prague Economic Papers, University of Economics, Prague, vol. 2004(2), pages 121-141.
- Tomáš Holub, 1999. "Ceny v èeském zahranièním obchodì (Prices in Czech Foreign Trade)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 49(5), pages 253-267, May.
- Hoffmann, Mathias, 2005.
"Fixed versus flexible exchange rates: Evidence from developing countries,"
CFR Working Papers
05-03, University of Cologne, Centre for Financial Research (CFR).
- Mathias Hoffmann, 2007. "Fixed versus Flexible Exchange Rates: Evidence from Developing Countries," Economica, London School of Economics and Political Science, vol. 74(295), pages 425-449, 08.
- Hoffmann, Mathias, 2003. "Fixed versus Flexible Exchange Rates: Evidence from Developing Countries," Royal Economic Society Annual Conference 2003 109, Royal Economic Society.
- Andrew Berg & Paolo Mauro & Michael Mussa & Alexander K. Swoboda & Esteban Jadresic & Paul R. Masson, 2000. "Exchange Rate Regimes in an Increasingly Integrated World Economy," IMF Occasional Papers 193, International Monetary Fund.
- Martin Mandel & Vladimír Zelenka, 2009.
"Ztráta centrální banky - účetní a ekonomický pohled na příkladě České národní banky
[Central bank Losses. An Economic and Accounting Perspective Using the Example of the Czech National Bank]," Politická ekonomie, University of Economics, Prague, vol. 2009(6), pages 723-739.
- Annamaria Kokenyne & Romain Veyrune & Karl Friedrich Habermeier & Harald Anderson, 2009. "Revised System for the Classification of Exchange Rate Arrangements," IMF Working Papers 09/211, International Monetary Fund.
- J Lawrence Broz & Jeffry Frieden & Stephen Weymouth, 2008. "Exchange Rate Policy Attitudes: Direct Evidence from Survey Data," IMF Staff Papers, Palgrave Macmillan, vol. 55(3), pages 417-444, July.
- Williamson, J., 1991. "Advice on the Choice of an Exchange-Rate Policy," Papers 3, United Nations World Employment Programme-.
- Paul R. Masson & Morris Goldstein & Jacob A. Frenkel, 1991. "Characteristics of a Successful Exchange Rate System," IMF Occasional Papers 82, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:prg:jnlpep:v:2011:y:2011:i:4:id:402:p:309-328. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Frantisek Sokolovsky)
If references are entirely missing, you can add them using this form.