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G. Goisis - Tassi di cambio e tassi di interesse: circuiti virtuosi e viziosi


  • Goisis, Gianandrea

    () (Università degli studi di Milano, Sezione di Scienze economiche e Diritto tributario)


Exchange rates and interest rates: virtuous and vicious connections The aim of this paper is to investigate the strong statistical connection between the Italian exchange and interest rates during the period 1994-1996. In fact, changes in the appreciation of the Italian lira against the currencies of the main foreign countries (and the expectations of this phenomenon) appear to have heavily influenced Italian short and long-term interest rates. Of course, the interest level reacts through the deficit to exchange rates expectations resulting in reverse causation. The empirical estimates seem to confirm the hypothesis of interdependence between the variables suggesting a more integrated economic policy.

Suggested Citation

  • Goisis, Gianandrea, 1998. "G. Goisis - Tassi di cambio e tassi di interesse: circuiti virtuosi e viziosi," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 51(3), pages 339-347.
  • Handle: RePEc:ris:ecoint:0296

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    References listed on IDEAS

    1. Halushka, Andrij & Savluk, Sergei & Wörgötter, Andreas, 1994. "Ukrainian Hyperinflation: History, Analysis, Recommendations," East European Series 10, Institute for Advanced Studies.
    2. Heiner, Ronald A, 1983. "The Origin of Predictable Behavior," American Economic Review, American Economic Association, vol. 73(4), pages 560-595, September.
    3. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    4. Cukierman, Alex & Edwards, Sebastian & Tabellini, Guido, 1992. "Seigniorage and Political Instability," American Economic Review, American Economic Association, vol. 82(3), pages 537-555, June.
    5. James G. MacKinnon, 1990. "Critical Values for Cointegration Tests," Working Papers 1227, Queen's University, Department of Economics.
    6. Stock, James H, 1987. "Asymptotic Properties of Least Squares Estimators of Cointegrating Vectors," Econometrica, Econometric Society, vol. 55(5), pages 1035-1056, September.
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    More about this item

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System


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