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close scrutiny. Using monthly data from 1973:01 to 2009:12 from the USA, UK, Germany, France and Japan, this paper as a …Although the literature on purchasing power parity (PPP) is rich in controversy, the relative contribution of prices … and nominal exchange rates to real exchange rate movements which restore PPP disequilibria has rarely been put under any …
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The objective of this paper is to examine the recent literature on the standard open economy macro paradigm. Since there are many aspects to this literature, we concentrate on issues regarding the nature of restrictions imposed in order to gain identification, the general problem of...
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close scrutiny. Using monthly data from 1973:01 to 2009:12 from the USA, UK, Germany, France and Japan, this paper as a …Although the literature on purchasing power parity (PPP) is rich in controversy, the relative contribution of prices … and nominal exchange rates to real exchange rate movements which restore PPP disequilibria has rarely been put under any …
Persistent link: https://www.econbiz.de/10013122023
We estimate a three-region (DE-REA-RoW) structural macroeconomic model, and we provide a counterfactual on how nominal exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model under a counterfactual flexible exchange rate regime....
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