The term structure of credit risk Estimates and specifications

SIGLEAvailable from British Library Document Supply Centre- DSC:5300.405(LSE-FMG-DP--219) / BLDSC - British Library Document Supply CentreGBUnited Kingdo

The forward discount puzzle and market efficiency

Forward discount puzzle, Efficient market hypothesis, Jensen’s inequality, Taylor expansion, Uncovered interest parity, F31,

The profitability of carry trades

Carry-trade, Efficient market hypothesis, Profitability tests, Uncovered interest parity, F30, F31, F37,

Capital flows in a transitional economy and the sterilization dilemma: The hungarian experience, 1992-97

This paper evaluates Hungary's dilemma with sterilization in the context of the record of countries elsewhere that have experienced similar capital inflow episodes, e.g., Latin America and Asia. The study focuses on the short-run impact of sterilization on monetary policy. The empirical results indicate that sterilized interventions by the National Bank of Hungary (NBH) did not neutralize capital inflows until possibly the middle of 1995, following a change in government and, more significantly, a change in exchange rate regimes. Indeed, it appears that monetary policy was overly restrictive and that, for a time, the NBH overcompensated for the inflows of capital.

Credibility of European economic convergence

F33, F36, F42,