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Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area

Cheikh, Nidhaleddine Ben; Rault, Christophe - CESifo - 2015

This paper provides an update on the exchange rate pass-through (ERPT) estimates for 12 euro area (EA) countries. First, based on quarterly data over the 1990-2012 period, our study does not find a significant heterogeneity in the degree of pass-through across the monetary union members, in...

Persistent link: https://www.econbiz.de/10011277181

Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable

Egert, Balazs; MacDonald, Ronald - CESifo - 2006

This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...

Persistent link: https://www.econbiz.de/10005094342

Trade Costs, Trade Balances and Current Accounts: An Application of Gravity to Multilateral Trade

Fazio, Giorgio; MacDonald, Ronald; Melitz, Jacques - CESifo - 2005

In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...

Persistent link: https://www.econbiz.de/10005765966

Europe Agreements and Trade Balance: Evidence from Four New EU Members

Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - CESifo - 2011

This paper analyses the trade balance effects of Europe agreements (EA) between the EU-15 and four new EU members from Central and Eastern Europe (CEEC-4) using both static and dynamic panel data approaches. Specifically, the system Generalized Method of Moments (GMM, Blundell and Bond, 1998)...

Persistent link: https://www.econbiz.de/10008833883

Illegal Trade in the Iranian Economy: Evidence from a Structural Model

Farzanegan, Mohammad Reza - CESifo - 2008

index of smuggling in Iran from 1970 to 2002. The Multiple Indicators - Multiple Causes (MIMIC) econometric modelling is … incentives for illegal trade. More trade openness accompanies more illegal trade for the case of Iran. On average, the relative … size of smuggling is about 13% of the total trade in Iran. The absolute amount of smuggling per year is about $3 billion. …

Persistent link: https://www.econbiz.de/10005181341

Political Institutions and Government Spending Behavior in Iran

Dizaji, Sajjad Faraji; Farzanegan, Mohammad Reza - CESifo - 2014

development of government spending in major sections shapes the political institutions in Iran. This question has become … especially important due to recent international sanctions, aiming to change the political behavior of Iran. We use the impulse … provision spending in Iran. The results imply that a shock in positive changes of democratic quality of institutions leads to …

Persistent link: https://www.econbiz.de/10010739347

Direct Distribution of Rents and the Resource Curse in Iran: A Micro-econometric Analysis

Farzanegan, Mohammad Reza; Habibpour, Mohammad - CESifo - 2014

subsequent taxation in Iran. We use rich micro survey data covering more than 36,000 Iranian households in 2009. Our micro …

Persistent link: https://www.econbiz.de/10010781552

Nominal and Real Exchange Rate Models in South Africa: How Robust are they?

Egert, Balazs - CESifo - 2012

This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...

Persistent link: https://www.econbiz.de/10010554826

The Impact of Macro News and Central Bank Communication on Emerging European Forex Markets

Egert, Balazs; Kocenda, Evžen - CESifo - 2013

We employ two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal equilibrium exchange rate based on a monetary model....

Persistent link: https://www.econbiz.de/10010668471

Dumping in Developing and Transition Economies

Moraga-González, José Luis; Viaene, Jean-Marie - CESifo - 2004

We build a simple theoretical model to understand why developing and transition economies have increasingly applied anti-dumping laws. To that end, we investigate the strategic incentives of oligopolistic exporting firms to undertake dumping in these economies. We show that dumping may be due to...

Persistent link: https://www.econbiz.de/10005765640