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National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
Some exchange rates are more stable than others: short-run evidence from transition countries
 Bulíř, Aleš
The paper investigates empirically the endogenous liquidity nexus of exchange rate determination on a sample of four transition economies. It finds evidence in favor of the hypothesis of a nonlinear error correction process vis-à-vis longer-term trend deviations. The results suggest that early and successful exchange-rate market and financial-account liberalization pays off in terms of depth of the market and, hence, faster adjustment of national currencies to short-term shocks to the exchange rate.
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