Warianty tytułu
Języki publikacji
Abstrakty
This paper studies whether models that assume long-maturity forward exchange rates are stationary (which proved in earlier studies to provide superior forecasting ability when applied to exchange rates of major currencies) are capable of forecasting the Euro exchange rates of three Central-East European currencies (the Czech koruna, Hungarian forint and Polish zloty). The results for the three currencies differ from each other and are generally much worse than those obtained earlier for major currencies. These unfavourable results are attributed to the consequences of managed exchange-rate systems, to the short time series available, to uncertainties related to future Euro-zone entry, to the existence of a foreign exchange and term premium, and to the Balassa–Samuelson effect.
Słowa kluczowe
Czasopismo
Rocznik
Tom
Numer
Strony
501-528
Opis fizyczny
Rodzaj publikacji
ARTICLE
Twórcy
Bibliografia
Typ dokumentu
Bibliografia
Identyfikatory
CEJSH db identifier
07HUAAAA02996139
Identyfikator YADDA
bwmeta1.element.8d8b3e19-87d5-38a4-94e3-4bef7a9148a6