Theoretical and Applied Economics
No. 2 / 2015 (603), Summer
Short-run determinants of the USD/PLN exchange rate and policy implications
Southeastern Louisiana University, Hammond, USA
Abstract. This paper examines short-run determinants of the U.S. dollar/Polish zloty (USD/PLN) exchange rate based on a simultaneous-equation model of demand and supply. Using a reduced form equation and the EGARCH model, the paper finds that the USD/PLN exchange rate is positively associated with the real reference rate in Poland, real GDP in the U.S., the real stock index in Poland and the expected exchange rate and is negatively influenced by the U.S. real federal funds rate, real GDP in Poland, and the real stock index in the U.S. Hence, monetary policy is effective in influencing the USD/PLN exchange rate.
Keywords: exchange rates, interest rates, real GDP, stock indexes, EGARCH.
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Contents
- Instruments and practices concerning the absorption
and use of structural and cohesion funds in Romania
Ani MATEI
Carmen SĂVULESCU
- Exports – trends and impacts
on Romania’s economic growth process
Anca Maria GHERMAN
George ȘTEFAN
- Innovation and regional performance in Romania
Anca DACHIN
Constantin POSTOIU
- A multidisciplinary approach of communication
Delia Mioara POPESCU
Ion PÂRGARU
Constanța POPESCU
Daniel MIHAI
- The issue of “true” money in front of the BitCoin's offensive
Angela ROGOJANU
Liana BADEA
- Public choice and the social beneficiary
Mariana IOVIȚU
Florina BRAN
- Stock market – economy growth nexus
in an emerging country. The case of Romania
Delia-Elena DIACONAŞU
- Determinants of savings in the APEC countries
Kivanç Halil ARIÇ
- The status of Romanian agriculture
and some measures to take
Mirela Ionela ACELEANU
Anca Gabriela MOLĂNESCU
Liliana CRĂCIUN
Cristina VOICU
- Education and society: an institutional approach
Marius-Cristian PANĂ
- Financial audit – feckless for economic re-launch
Elena DOBRE
Laura BRAD
- Empirical evidence
on the Ricardian equivalence in Romania
Daniel BELINGHER
Nicolae MOROIANU
- Minimum wage – labour market rigidity factor
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- Regional convergence. Case of Romania
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- The exchange rate volatility in the Central
and Eastern European Countries
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Silvia Maria ROȘCA
- A study of the impossible trinity in Romania
Bogdan BĂDESCU
- Governance process improvement
and development by audit consolitation
Adelina DUMITRESCU PECULEA
- Analysis of the evolution of foreign direct investment
in the European Union, amid the global economic crisis
Marinela GEAMĂNU
- The use of behavioral economics
in promoting public policy
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- New paradigms imposed by the global financial crisis
Ioana Andrada MOLDOVAN (GAVRIL)
- Are financial audit elements and corporate governance policies
solutions for the economic crisis?
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- The kids are alright?
A note on parental satisfaction in Germany
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- Technological revolution, labor markets and income distribution
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Ioana Cristina FLORESCU
