Private Sector Profitability and Depreciation Pressure within Managed Floating Exchange Rate Regimes: Evidence from Nigeria

2014 ◽  
Author(s):  
Oghenovo A. Obrimah
Keyword(s):  
Exchange Rate ◽  
Private Sector ◽  
Exchange Rate Regimes ◽  
Floating Exchange Rate ◽  
Managed Floating

Exchange Rate Regimes and Economic Stability

2010 ◽  
pp. 29-43
Author(s):  
S. Smirnov
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Regime ◽  
Exchange Rate Policy ◽  
Real Sector ◽  
Economic Stability ◽  
Exogenous Shocks ◽  
Floating Exchange Rate ◽  
Rate Policy ◽  
Managed Floating

The Bank of Russia intends to introduce inflation targeting policy and exchange rate free floating regime in three years. Exogenous shocks absorption which stabilizes the real sector of economy is usually considered to be one of the advantages of free floating exchange rate policy. However, our research based on the analysis of 25 world largest economies exchange rates and industrial production during the crisis of 2008-2009 does not confirm this hypothesis. The article also analyzes additional risks associated with free floating exchange rate regime in Russia and presents some arguments in favor of managed floating exchange rate regime.

scholarly journals DAMPAK PENERAPAN BEA KELUAR KARET ALAM INDONESIA. SUATU ANALISIS SIMULASI

2012 ◽  
Vol 30 (1) ◽  
pp. 36
Author(s):  
Sinung Hendratno
Keyword(s):  
Exchange Rate ◽  
Floating Exchange Rate ◽  
Managed Floating

Pemerintah akan mendorong pengembangan industri barang jadi karet di dalam negeri. Salah satu upayanya adalah dengan merencanakan penerapan bea keluar karet. Tulisan ini akan menganalisis dampak dari penerapan bea keluar karet alam Indonesia. Analisis menggunakan data sekunder yang diperoleh dari berbagai sumber yang relevan dan hasil penelitian. Data dianalisis dengan menggunakan metode komparatif statik dan simulasi. Hasil analisis simulasi menunjukkan bahwa penerapan bea keluar karet akan menurunkan harga di tingkat perdagangan besar dan produsen (petani dan perusahaan) karet. Penerapan bea keluar karet juga berdampak pada: a) meningkatnya surplus konsumen industri barang jadi karet, b) menurunnya surplus produsen, c) menghasilkan penerimaan pemerintah, dan d) terjadi kerugian ekonomi bagi masyarakat perkaretan. Penerapan kebijakan bea keluar karet sebaiknya dilakukan bersama-sama dengan kebijakan lain (policy mixed) seperti: a) kebijakan perlindungan terhadap kesejahteraan produsen, b) kebijakan keamanan terhadap perdagangan ilegal bokar, c) kebijakan penyediaan bahan pendukung bagi industri barang jadi karet dan pengurangan/ penghapusan PPN bagi produk primer, dan d) kebijakan stabilisasi nilai tukar mata uang  (managed floating exchange rate). Diterima : 29 Maret 2012; Disetujui : 17 Juli 2012 How to Cite : Hendratno, S. (2012). Dampak penerapan bea keluar karet alam indonesia. Suatu analisis simulasi. Jurnal Penelitian Karet, 30(1), 36-45. Retrieved from http://ejournal.puslitkaret.co.id/index.php/jpk/article/view/120

scholarly journals EXOGENOUS INTEREST RATE AND EXCHANGE RATE DYNAMICS UNDER ELASTIC EXPECTATIONS

2021 ◽  
Vol 80 (318) ◽  
pp. 3
Author(s):  
Franklin Serrano ◽  
Ricardo Summa ◽  
Gabriel Aidar
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Interest Rates ◽  
Exchange Rate Regimes ◽  
Nominal Exchange Rate ◽  
Exchange Rate Dynamics ◽  
Policy Variable ◽  
Nominal Exchange Rates ◽  
Floating Exchange Rate ◽  
Short Run

<div class="WordSection1"><h1 align="center"><strong style="font-size: 10px;">ABSTRACT</strong></h1></div><p>A theory analyzing the short run dynamics of nominal exchange rates under exogenous interest rates and free imperfect international capital markets is presented. Introducing elastic exchange rate expectations leads to cumulative changes in the spot and forward exchange rates in the same direction. We find that free floating exchange rate regimes are intrinsically unstable, as the nominal exchange rate is an institutional or policy variable that has no ‘fundamental equilibrium’ level. Implications for monetary policy and exchange market interventions of this potential instability are derived. Our results help to explain both the empirical prevalence of dirty floating exchange rate regimes and some aspects of the uncovered interest parity ‘failure’.</p><p> </p><p align="center">TASA DE INTERÉS EXÓGENA Y DINÁMICA DEL TIPO DE CAMBIO CON EXPECTATIVAS ELÁSTICAS</p><p align="center"><strong>RESUMEN </strong></p><p>Presentamos un análisis teórico de la dinámica de corto plazo de los tipos de cambio nominales con tasas de interés exógenas y libres e imperfecta movilidad internacional de capitales. La introducción de expectativas de tipo de cambio elásticas conduce a variaciones acumulativas en los tipos de cambio <em>spot</em> y <em>forward</em> en la misma dirección. Los regímenes de tipo de cambio de flotación libre son intrínsicamente inestables, dado que el tipo de cambio nominal es una variable institucional o de política que no tiene un nivel de “equilibrio fundamental”. Derivamos implicaciones de esta inestabilidad potencial para la política monetaria y las intervenciones en los mercados cambiarios. Los resultados ayudan a explicar la prevalencia de tipos de cambio de flotación sucia y aspectos de la “falla” de la paridad de tasas de interés descubierta.</p>

HOW THE EXCHANGE RATE REGIME AFFECTS ADJUSTMENT TO LARGE OIL PRICE SWINGS IN OIL EXPORTING COUNTRIES

2021 ◽  
Author(s):  
MAJED S. ALMOZAINI
Keyword(s):  
Exchange Rate ◽  
Money Supply ◽  
Government Spending ◽  
Exchange Rate Regime ◽  
Exchange Rate Regimes ◽  
Oil Price ◽  
Fixed Exchange Rate ◽  
Floating Exchange Rate ◽  
The Exchange Rate

The aim of this study is to analyze how oil price shocks affect the economic growth of floating exchange rate regimes and fixed exchange rate regimes in oil-exporting countries with a ratio of oil exports to total exports exceeding 70%. Also, this study seeks to determine what monetary and fiscal policies both regimes apply in order to curb business cycles and reduce inflationary and recessionary gaps. The analytical study uses panel data for the period from 1991 to 2019, covering 24 oil-exporting countries, from the World Economic Outlook (WEO) database and World Bank. The econometric model is estimated by applying a panel VECM to examine the short- and long-term interdependencies in the macroeconomic variables. The results demonstrate that when there is a negative shock to the oil price, the exchange rate of the floating exchange rate regimes depreciates, money supply increases, and government spending decreases. In contrast, the exchange rate of the fixed exchange rate regimes fluctuates slightly; the money supply slightly decreases in the near, medium, and long term; and government spending decreases.

Exchange Rate Regimes and Economic Performance in Resource-Dependent Economies

2019 ◽  
pp. 183-217
Author(s):  
Bassem Kamar ◽  
Raimundo Soto
Keyword(s):  
Exchange Rate ◽  
Economic Performance ◽  
Oil And Gas ◽  
Exchange Rate Regimes ◽  
Lower Growth ◽  
Resource Rents ◽  
Floating Exchange Rate ◽  
Negative Effect ◽  
High Level ◽  
Long Term Performance

This chapter presents empirical findings on the relationship between resource rents, alternative exchange rate regimes, and economic performance. It shows that resource abundance leads to higher growth, while oil dependency, captured by a high level of export concentration and/or being an oil exporter, reduces economic growth relative to diversified and/or non-oil exporters. Resource rents, including oil and gas, lead to higher inflation, while oil dependence has a dampening effect. The results confirm that exchange regimes matter for the long-term performance of a resource-rich economy (RRE). Countries with floating exchange regimes tend to have lower growth and higher inflation than those with intermediate exchange rate systems but being an oil exporter helps mute the inflationary effect of floating exchange rate regimes. On the other hand, while fixed exchange rates do not have a significant direct effect on growth, they help dampen the negative effect of inflation on growth and lead to lower inflation.

Sign in / Sign up

Export Citation Format

Share Document