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Inflation has fallen dramatically in countries like Spain and Italy over the last decade, but the rate of increase in "home good" prices remains stubbornly higher than the rate of increase in "traded good" prices. The paper begins by showing that this discrepancy can be explained (at least in...
Persistent link: https://www.econbiz.de/10005590705
Total Factor Productivity (TFP) accounts for a sizeable proportion of the income and growth differences across … countries. Two challenges remain to researchers aiming to explain these differences: on the one hand, TFP growth is hard to …-parametric measure of TFP growth with model averaging techniques to addess both issues. The empirical findings suggest that the most …
Persistent link: https://www.econbiz.de/10008917383
the US it accelerated around the mid-1990s and there is evidence of reversion to a high-growth regime. In some EU … productivity growth in the US economy, to EU data to confirm the existence of a significant permanent shift to lower productivity … growth in some European countries around the mid-1990s. We find a structural break in mean labour productivity growth in the …
Persistent link: https://www.econbiz.de/10005022252
This paper studies the pass-through of exchange rate changes into the prices of imports that originated inside the euro area made by some New Member States (NMSs) of the European Union and one candidate country (Turkey). I use data on import unit values for nine different product categories and...
Persistent link: https://www.econbiz.de/10005155237
Exchange rates in Latin America display a large volatility, constitute a central element of the policy strategies and their evolution have an important impact on financial stability due to the dollarization of liabilities which most countries exhibit. However, assessments on equilibrium exchange...
Persistent link: https://www.econbiz.de/10004965256
some of the mechanisms by which these fluctuations produce changes in the long-run growth of the economy. In particular, it …-run economic growth. …
Persistent link: https://www.econbiz.de/10005022309
In this paper we measure, at sectoral level, the sources of Spanish productivity growth, distinguishing among the roles … value added, total factor productivity growth in the manufacturing sector is higher than in services (2.4% and 1 ….1% respectively), although the Communication Sector constitutes an exception. In terms of gross production productivity growth in both …
Persistent link: https://www.econbiz.de/10005088310
In this paper we compare the determinants of loan dollarisation in two emerging market regions, namely Central, Eastern and Southeastern Europe (CESEE) and Latin America, by means of a meta-analysis of 32 studies that provide around 1,200 estimated coefficients for six drivers of foreign...
Persistent link: https://www.econbiz.de/10010862261
Many central banks actively intervene in the foreign exchange (forex) market, although there is no consensus on its impact on the exchange rate level and volatility. We analyze the effects of daily forex interventions in four Latin American countries with inflation targets — namely, Chile,...
Persistent link: https://www.econbiz.de/10010862285
We propose a fundamentals-based econometric model for the weekly changes in the euro-dollar rate with the distinctive feature of mixing economic variables quoted at different frequencies. The model obtains good in-sample fit and, more importantly, encouraging outof-sample forecasting results at...
Persistent link: https://www.econbiz.de/10010862286