About: A Structural Investigation of Third-Currency Shocks to Bilateral Exchange Rates.

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About: A Structural Investigation of Third-Currency Shocks to Bilateral Exchange Rates. Goto Sponge NotDistinct Permalink

An Entity of Type : http://linked.opendata.cz/ontology/domain/vavai/Vysledek, within Data Space : linked.opendata.cz associated with source document(s)

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	Článek se zabývá analýzou dopadů šoků v určité zemi na bilaterální kurzy měn dvou jiných zemí. (cs) An exchange rate between two currencies can be materially affected by shocks emerging from a third country. A US demand shock, for example, can affect the exchange rate between the euro and the yen. Because positive US demand shocks have a greater positive impact on Japanese interest rates than on euro area rates, the yen appreciates against the euro in response. Using quarterly data on the United States, the euro area and Japan from 1981 to 2006, this paper shows that the third-currency effects are significant even when exchange rates evolve according to uncovered interest parity. This is because interest rates are typically set in response to output and inflation, which are in turn influenced by other exchange rates. More importantly, third-currency effects are also transmitted to the actual exchange rate through the expected future exchange rate, which is, in a multi-country set-up, influenced by third-countries? fundamentals and shocks. An exchange rate between two currencies can be materially affected by shocks emerging from a third country. A US demand shock, for example, can affect the exchange rate between the euro and the yen. Because positive US demand shocks have a greater positive impact on Japanese interest rates than on euro area rates, the yen appreciates against the euro in response. Using quarterly data on the United States, the euro area and Japan from 1981 to 2006, this paper shows that the third-currency effects are significant even when exchange rates evolve according to uncovered interest parity. This is because interest rates are typically set in response to output and inflation, which are in turn influenced by other exchange rates. More importantly, third-currency effects are also transmitted to the actual exchange rate through the expected future exchange rate, which is, in a multi-country set-up, influenced by third-countries? fundamentals and shocks. (en)
Title	A Structural Investigation of Third-Currency Shocks to Bilateral Exchange Rates. Strukturální analýza šoků třetí měny na bilaterální kurzy (cs) A Structural Investigation of Third-Currency Shocks to Bilateral Exchange Rates. (en)
skos:prefLabel	A Structural Investigation of Third-Currency Shocks to Bilateral Exchange Rates. Strukturální analýza šoků třetí měny na bilaterální kurzy (cs) A Structural Investigation of Third-Currency Shocks to Bilateral Exchange Rates. (en)
skos:notation	RIV/61989100:27510/08:00018552!RIV09-GA0-27510___
http://linked.open...avai/riv/aktivita	P
http://linked.open...avai/riv/aktivity	P(GA402/08/0067)
http://linked.open...iv/cisloPeriodika	1
http://linked.open...vai/riv/dodaniDat	2009
http://linked.open...aciTvurceVysledku	Melecký, Martin
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Vysoká škola báňská - Technická univerzita Ostrava / Ekonomická fakulta
http://linked.open...dnocenehoVysledku	354542
http://linked.open...ai/riv/idVysledku	RIV/61989100:27510/08:00018552
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	exchange rate; demand shocks; US dollar (en)
http://linked.open.../riv/klicoveSlovo	exchange rate demand shocks US dollar
http://linked.open...odStatuVydavatele	GB - Spojené království Velké Británie a Severního Irska
http://linked.open...ontrolniKodProRIV	[6C58B44AEC6B]
http://linked.open...i/riv/nazevZdroje	International finance
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...vavai/riv/projekt	Financial Integration of the EU New Member States with Eurozone
http://linked.open...UplatneniVysledku	2008
http://linked.open...v/svazekPeriodika	11
http://linked.open...iv/tvurceVysledku	Melecký, Martin
http://linked.open...ain/vavai/riv/wos	000256528700002
issn	1367-0271
number of pages	30 (xsd:int)
http://localhost/t...ganizacniJednotka	27510

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