Exchange Market Pressure on the Croatian Kuna
| Autor: | Srđan Tatomir |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2009 |
| Předmět: | |
| Zdroj: | Financial Theory and Practice, Vol 33, Iss 2, Pp 187-199 (2009) |
| Druh dokumentu: | article |
| ISSN: | 1846-887X 1845-9757 |
| Popis: | Currency crises exert strong pressure on currencies often causing costly economic adjustment. A measure of exchange market pressure (EMP) gauges the severity of such tensions. Measuring EMP is important for monetary authorities that manage exchange rates. It is also relevant in academic research that studies currency crises. A precise EMP measure is therefore important and this paper reexamines the measurement of EMP on the Croatian kuna. It improves it by considering intervention data and thresholds that account for the EMP distribution. It also tests the robustness of weights. A discussion of the results demonstrates a modest improvement over the previous measure and concludes that the new EMP on the Croatian kuna should be used in future research. |
| Databáze: | Directory of Open Access Journals |
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