THE BLACK-MARKET EXCHANGE RATE VERSUS THE OFFICIAL RATE: WHICH RATE FOSTERS THE ADJUSTMENT SPEED IN THE MONETARIST MODEL?

MOHSEN BAHMANI-OSKOOEE; SCOTT W. HEGERTY; ALTIN TANKlf

首页> 外文期刊>The Manchester school >THE BLACK-MARKET EXCHANGE RATE VERSUS THE OFFICIAL RATE: WHICH RATE FOSTERS THE ADJUSTMENT SPEED IN THE MONETARIST MODEL?

【24h】

THE BLACK-MARKET EXCHANGE RATE VERSUS THE OFFICIAL RATE: WHICH RATE FOSTERS THE ADJUSTMENT SPEED IN THE MONETARIST MODEL?

机译：黑市汇率与官方汇率：哪个汇率支撑货币模型中的调整速度？

获取原文

获取原文并翻译 | 示例

掌桥外文数据库（机构版） >>

开具论文收录证明 >>

文献代查 >>

页面导航

摘要
著录项
相似文献
相关主题

摘要

Many less developed countries have currency controls, which can lead to black-market trade and cause distortions in the exchange market. We test the flexible-price monetary model for 25 less developed countries, using both official and black-market exchange rates. We find that the model is supported in the long run, particularly when black-market rates are used. Measuring the speed of convergence to equilibrium, we find that it is often higher in the black-market specification, implying greater effi-ciency. This could offer justification for exchange-rate unification, par-ticularly in Latin America.

机译：许多欠发达国家有货币管制，这可能导致黑市交易，并导致外汇市场扭曲。我们使用官方和黑市汇率测试了25个欠发达国家的灵活价格货币模型。我们发现，从长远来看，将支持该模型，尤其是在使用黑市利率的情况下。通过测量收敛到平衡的速度，我们发现在黑市规范中它通常更高，这意味着更高的效率。这可以提供汇率统一的理由，尤其是在拉丁美洲。

著录项

来源
《The Manchester school》 |2010年第6期|p.725-738|共14页
作者
MOHSEN BAHMANI-OSKOOEE; SCOTT W. HEGERTY; ALTIN TANKlf;
展开▼
作者单位

Center for Research on International Economics, University of Wisconsin-Milwaukee;

rnWehle School of Business, Canisius College;

rnCenter for Research on International Economics, University of Wisconsin-Milwaukee;

展开▼
收录信息
原文格式 PDF
正文语种 eng
中图分类
关键词

相似文献

外文文献
中文文献
专利

1. Incorporating daily market uncertainty data into a conventional short-run dynamic model: the case of the black-market exchange rate in Iran [J] . Valadkhani Abbas, Nguyen Jeremy, Hajargasht Reza Applied Economics . 2019,第43a45期

机译：将每日市场不确定性数据纳入常规的短期动态模型中：伊朗黑市汇率的情况
2. Incorporating daily market uncertainty data into a conventional short-run dynamic model: the case of the black-market exchange rate in Iran [J] . Valadkhani Abbas, Nguyen Jeremy, Hajargasht Reza Applied Economics . 2019,第43a45期

机译：将每日市场不确定性数据纳入传统的短期动态模型：伊朗的黑市汇率的情况
3. Further evidence on PPP adjustment speeds: the case of effective real exchange rates and the EMS [J] . Ivan Paya, Ioannis A.Venetis, David A.Peel Oxford Bulletin of Economics and Statistics . 2003,第4期

机译：关于PPP调整速度的进一步证据：有效实际汇率和EMS的情况
4. Modeling and Prediction of the CNY Exchange Rates Using RBF Neural Networks versus GARCH Models [C] . Zhaocheng LIU, Xiyu LIU, Ziran ZHENG International Symposium on Quantum, Nano and Micro Technologies . 2011

机译：利用RBF神经网络与GARCH模型建模与预测CNY汇率
5. Essays on real exchange rate adjustments in a fixed exchange rate system [D] . Chan, Man Ching Stella 2008

机译：固定汇率制度下实际汇率调整的论文
6. Modeling inflation rates and exchange rates in Ghana: application of multivariate GARCH models [O] . Ezekiel NN Nortey, Delali D Ngoh, Kwabena Doku-Amponsah, -1

机译：加纳的通货膨胀率和汇率建模：多元GARCH模型的应用
7. This paper investigates empirically the reasons behind the popularity of fixed adjustable pegs in the Middle East North Africa region (MENA). We have used an ordered multinomial random effects probit model for explaining the nature of exchange rate regime according to the official (de jure) and to the actual (de facto) exchange rate classifications. Many dicators have been used as proxies for the different relevant factors. We find that the “fear of floating” factors appear to play a significant role in the choice of regime. [O] . Claude Bismut, Darine Ghanem 100

机译：本文通过实证研究了中东北非地区（mENa）固定可调节钉的普及原因。我们使用有序的多项随机效应概率模型来解释根据官方（法律上）和实际（事实上）汇率分类的汇率制度的性质。许多指示器已被用作不同相关因素的代理。我们发现“对浮动的恐惧”因素似乎在政权选择中发挥了重要作用。

THE BLACK-MARKET EXCHANGE RATE VERSUS THE OFFICIAL RATE: WHICH RATE FOSTERS THE ADJUSTMENT SPEED IN THE MONETARIST MODEL?

摘要

著录项

相似文献

相关主题

期刊订阅