01091cam0 2200277 450 E60020002553620190314084126.020070301d2000 |||||ita|0103 baitaITCesare Pavese, 1908-1950Mostra fotografica, Film, Convegno[S. l.s. e.]s2000RomaGrafica 891[30] c.ill.24 cm.Testo anche in ingleseIn testa al front.: Comune di Roma, Assessorato alle Politiche Culturali, Dipartimento Cultura, Ufficio Convegni Mostre Conferenze; Casa delle Letterature; Italian Cultural InstituteNell'occhietto: Arte e letteraturaCatalogo della mostra tenuta a Roma e a Londra nel 2000ITUNISOB20190314RICAUNISOBUNISOB850132662E600200025536M 102 Monografia moderna SBNM850003372Si132662donocatenacciUNISOBUNISOB20070301140658.020190314084126.0rovitoCesare Pavese, 1908-19501687107UNISOB05289oam 22012734 450 991095739760332120250426110509.09781475559569147555956997814755635041475563507(CKB)2670000000278909(EBL)1606821(SSID)ssj0000943850(PQKBManifestationID)11564333(PQKBTitleCode)TC0000943850(PQKBWorkID)10977698(PQKB)10877786(Au-PeEL)EBL1606821(CaPaEBR)ebr10627130(OCoLC)870245024(IMF)WPIEE2012168(IMF)WPIEA2012168(MiAaPQ)EBC1606821WPIEA2012168(EXLCZ)99267000000027890920020129d2012 uf 0engurcn|||||||||txtccrCommodity Prices and Exchange Rate Volatility : Lessons from South Africa’s Capital Account Liberalization /Elena Dumitrescu, Rabah Arezki, Andreas Freytag, Marc Quintyn1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (20 p.)IMF Working PapersIMF working paper ;WP/12/168Description based upon print version of record.9781475511024 1475511027 9781475505160 1475505167 Includes bibliographical references.Cover; Abstract; Contents; I. Introduction; II. The Literature; III. Empirical Strategy; A. Data; B. Time Series Properties and Econometric Techniques; IV. Main Results; V. Robustness; VI. Conclusion; References; Figures; Figure 1. Evolution of Gold Prices and South Africa Rand Real Exchange Rate; Figure 2. Volatility of Gold Prices and South Africa Rand Real Exchange Rate; Tables; Table 1 Johansen Cointegration Test Results on Pre-Capital Account Liberalization; Table 2 Johansen Cointegration Test Results on Post-Capital Account LiberalizationTable 3 Lagrange Multiplier Test for Residual AutocorelationTable 4 VECM Results for Pre-Capital Account Liberalization Sample; Table 5 Post-Capital Account Liberalization VECM Results; Table 6 Testing Weak ExogeneityWe examine the relationship between South African Rand and gold price volatility using monthly data for the period 1980-2010. Our main findings is that prior to capital account liberalization the causality runs from South African Rand to gold price volatility but the causality runs the other way around for the post-liberalization period. These findings suggest that gold price volatility plays a key role in explaining both the excessive exchange rate volatility and current disproportionate share of speculative (short-run) inflows that South Africa has been coping with since the opening up of its capital account.IMF Working Papers; Working Paper ;No. 2012/168PricesForeign exchange ratesSouth AfricaBalance of paymentsimfCapital account liberalizationimfCementimfCeramicsimfCommodity MarketsimfCommodity price fluctuationsimfCurrencyimfCurrent Account AdjustmentimfExports and ImportsimfForeign ExchangeimfForeign exchangeimfGlassimfGold pricesimfGoldimfInternational economicsimfInternational InvestmentimfLong-term Capital MovementsimfMacroeconomicsimfMetals and Metal ProductsimfPricesimfReal effective exchange ratesimfReal exchange ratesimfShort-term Capital MovementsimfSouth AfricaimfPrices.Foreign exchange ratesBalance of paymentsCapital account liberalizationCementCeramicsCommodity MarketsCommodity price fluctuationsCurrencyCurrent Account AdjustmentExports and ImportsForeign ExchangeForeign exchangeGlassGold pricesGoldInternational economicsInternational InvestmentLong-term Capital MovementsMacroeconomicsMetals and Metal ProductsPricesReal effective exchange ratesReal exchange ratesShort-term Capital Movements332.152Dumitrescu Elena1816438Arezki Rabah1805364Freytag Andreas148883Quintyn Marc247373DcWaIMFBOOK9910957397603321Commodity Prices and Exchange Rate Volatility4372515UNINA