Target zones and realignment risk: an integrated approach

Article Abstract:

A new econometric model was utilized to detect the impact of inflation differentials and trade deficits on the European Monetary System's (EMS) exchange rate movements. The model, despite the presence of target zones, determines the influence of inflation differentials and trade deficits through the use of jump process. The model illustrate that the likelihood of large depreciation and high volatility rises whenever competitiveness declines.

Economics, Research and Development in the Social Sciences and Humanities, Foreign Exchange & Reserves Policy, Models, Analysis, Econometrics, European Monetary System, Foreign exchange market

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Measuring monetary conditions in Europe: use and limitations of the MCI

Article Abstract:

The Monetary Conditions Index (MCI), which shows the average of an interest and exchange rate in a certain country, is often used by the IMF, the OECD and central banks. After determining the benefits and weaknesses of the MCI based on macroeconomic models, it was realized that, under a monetary union, the exchange rate impacts the gross domestic products in a lower level relative to the effect of the short-term interest rate.

Currency Stabilization Programs, Usage, Europe, Economic aspects, Monetary policy, Monetary unions, Economic indicators, Currency stabilization

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Further evidence of the added-worker effect among white couples

Article Abstract:

The added-worker effect involving women with unemployed husbands and those whose husbands are only involuntarily part-time employed is examined. Results of the study suggest an added-worker effect, particularly for women whose husbands are unemployed. These women are also more likely to be unemployed or employed part-time involuntarily than their counterparts whose husbands are working full-time.

Jobs & Employment, Psychological aspects, Research, Employment, Labor supply, Labor force, Married women, Married men

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