Název: Currency Substitution and Foreign Exchange Intervention in Emerging Market
Překlad názvu: Currency Substitution and Foreign Exchange Intervention in Emerging Market
Autoři: Loiseau-Aslanidi, Olga ; Zemčík, Petr (vedoucí práce) ; Kutan, Ali M. (oponent) ; Brada, Josef (oponent)
Typ dokumentu: Disertační práce
Rok: 2012
Jazyk: eng
Abstrakt: This dissertation consists of three essays that focus on the determinants and implications of exchange rate behavior in emerging markets. The first essay studies foreign exchange intervention conducted by the National Bank of Georgia. Various econometric methodologies are applied to study both the determinants and effectiveness of intervention. A unique daily data set is employed in the analysis. The major intervention motives of leaning-against-the-wind and of decreasing volatility are revealed. Intervention influences the exchange rate as intended after some lag. However, this effectiveness is achieved at the price of increased volatility of the exchange rate. In the second and third essays, the issue of currency substitution is studied. Two-currency monetary models are specified to analyze and explain currency substitution from different perspectives. These models focus on economic observables that influence a households decision to switch to a foreign currency, namely the exchange rate, interest rates of savings in foreign and domestic currencies, and domestic and foreign inflation. The second essay studies the significance and rationalizes currency substitution in Georgia. The paper finds that this issue is of first-order importance in the country. The actual dynamics of currency substitution...

Instituce: Fakulty UK (VŠKP) (web)
Informace o dostupnosti dokumentu: Dostupné v digitálním repozitáři UK.
Původní záznam: http://hdl.handle.net/20.500.11956/44650

Trvalý odkaz NUŠL: http://www.nusl.cz/ntk/nusl-308942


Záznam je zařazen do těchto sbírek:
Školství > Veřejné vysoké školy > Univerzita Karlova > Fakulty UK (VŠKP)
Vysokoškolské kvalifikační práce > Disertační práce
 Záznam vytvořen dne 2017-05-09, naposledy upraven 2022-03-04.


Není přiložen dokument
  • Exportovat ve formátu DC, NUŠL, RIS
  • Sdílet