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Productivity, the terms of trade and the real exchange rate : the Balassa-Samuelson hypothesis revisited
Choudhri, Ehsan U. - 2009
example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. -- Exchange rates ; Productivity …
Persistent link: https://www.econbiz.de/10003933283
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Productivity, the Terms of Trade, and the Real Exchange Rate: The Balassa-Samuelson Hypothesis Revisited
Choudhri, Ehsan U.; Schembri, Lawrence L. - Bank of Canada - 2009
example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …
Persistent link: https://www.econbiz.de/10004976803
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ToTEM II: An Updated Version of the Bank of Canada’s Quarterly Projection Model
Dorich, José; Johnston, Michael K.; Mendes, Rhys R.; … - Bank of Canada - 2013
This report provides a detailed technical description of an updated version of the Terms-of-Trade Economic Model (ToTEM II), which replaced ToTEM (Murchison and Rennison 2006) in June 2011 as the Bank of Canada’s quarterly projection model for Canada. ToTEM has been improved along a number of...
Persistent link: https://www.econbiz.de/10010849975
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ToTEM: The Bank of Canada's New Quarterly Projection Model
Murchison, Stephen; Rennison, Andrew - Bank of Canada - 2006
The authors provide a detailed technical description of the Terms-of-Trade Economic Model (ToTEM), which replaced the Quarterly Projection Model (QPM) in December 2005 as the Bank's principal projection and policy-analysis model for the Canadian economy. ToTEM is an open-economy, dynamic...
Persistent link: https://www.econbiz.de/10005162371
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Menu costs at work : restaurant prices and the introduction of the Euro
Hobijn, Bart (contributor); Ravenna, Federico (contributor);  … - 2004 - [Elektronische Ressource]
realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …
Persistent link: https://www.econbiz.de/10002521760
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Exchange rate pass-through and monetary policy : how strong is the link?
Murchison, Stephen - 2009
this phenomenon, which has been observed for several other countries, may be due to a change in the behaviour of inflation …. Specifically, moving from a high to a low-inflation environment has reduced the expected persistence of cost changes and, by … policy has responded more aggressively to inflation deviations over the low pass-through period relative to the high pass …
Persistent link: https://www.econbiz.de/10003933342
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THE CONTRIBUTION OF DOMESTIC, REGIONAL AND INTERNATIONAL FACTORS TO LATIN AMERICA'S BUSINESS CYCLE
Boschi, Melisso; Girardi, Alessandro - Crawford School of Public Policy, Australian National … - 2008
This paper quantifies the relative contribution of domestic, regional and international factors to the fluctuation of domestic output in six key Latin American (LA) countries: Argentina, Bolivia, Brazil, Chile, Mexico and Peru. Using quarterly data over the period 1980:1-2003:4, a multi-variate,...
Persistent link: https://www.econbiz.de/10010904300
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Real Exchange Rates and Sectoral Productivity in the Eurozone
Berka, Martin; Devereux, Michael B.; Engel, Charles - Crawford School of Public Policy, Australian National … - 2014
We investigate the link between real exchange rates and sectoral total factor productivity measures for countries in … previous studies that have found little relationship between productivity levels and the real exchange rate among high …
Persistent link: https://www.econbiz.de/10010939113
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Exchange Rates Dynamics with Long-Run Risk and Recursive Preferences
Kollmann, Robert - Crawford School of Public Policy, Australian National … - 2014
Standard macro models cannot explain why real exchange rates are volatile and disconnected from macro aggregates. Recent research argues that models with persistent growth rate shocks and recursive preferences can solve that puzzle. I show that this result is highly sensitive to the structure of...
Persistent link: https://www.econbiz.de/10010942940
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External Stability, Real Exchange Rate Adjustment and the Exchange Rate Regime in Emerging-Market Economies
Gervais, Olivier; Schembri, Lawrence; Suchanek, Lena - Bank of Canada - 2011
In emerging-market economies, real exchange rate adjustment is critical for maintaining a sustainable current account position and thereby for helping to reduce macroeconomic and financial instability. The authors examine empirically two related hypotheses: (i) that real exchange rate...
Persistent link: https://www.econbiz.de/10009323066