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Asymmetric exchange rate pass-through in the Euro area: New evidence from smooth transition models
Ben Cheikh, Nidhaleddine - Institut für Weltwirtschaft (IfW) - 2012
This paper examines the presence of asymmetric behavior in exchange rate pass-through (ERPT) to CPI inflation in 12 …
Persistent link: https://www.econbiz.de/10010956023
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Volatility and Pass-through
Berger, David; Vavra, Joseph S. - National Bureau of Economic Research (NBER) - 2013
What drives countercyclical volatility? A large literature has documented that many economic variables are more disperse in recessions, but this could either occur because shocks get bigger or because firms respond more to shocks which are the same size. Existing evidence that the dispersion of...
Persistent link: https://www.econbiz.de/10010950688
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Noisy Information, Distance and Law of One Price Dynamics Across US Cities
Crucini, Mario John; Shintani, Mototsugu; Tsuruga, Takayuki - National Bureau of Economic Research (NBER) - 2012
Using micro price data across US cities, we provide evidence that both the volatility and persistence of deviations from the law of one price (LOP) are positively correlated with the distance between cities. A standard, two-city, equilibrium model with time-varying technology under homogeneous...
Persistent link: https://www.econbiz.de/10009652890
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Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia
Ito, Takatoshi; Isard, Peter; Symansky, Steven - National Bureau of Economic Research (NBER) - 1997
The paper tests the Balassa-Samuelson hypothesis (rapid economic growth is accompanied by real exchange rate appreciation because of differential productivity growth between tradable and nontradable sectors) using data of the APEC economies. Japan, Korea, Taiwan and, to a lesser extent, Hong...
Persistent link: https://www.econbiz.de/10005714427
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Is Bad News About Inflation Good News for the Exchange Rate?
Clarida, Richard H.; Waldman, Daniel - National Bureau of Economic Research (NBER) - 2007
an inflation surprise and the nominal exchange rate can tell us something about how monetary policy is conducted …. Specifically, we show that 'bad news' about inflation -- that it is higher than expected -- can be 'good news' for the nominal … exchange rate -- that it appreciates on this news -- if the central bank has an inflation target that it implements with a …
Persistent link: https://www.econbiz.de/10005714830
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Accounting for Persistence and Volatility of Good-Level Real Exchange Rates: The Role of Sticky Information
Crucini, Mario John; Shintani, Mototsugu; Tsuruga, Takayuki - National Bureau of Economic Research (NBER) - 2008
Volatile and persistent real exchange rates are observed not only in aggregate series but also in the individual good level data. Kehoe and Midrigan (2007) recently showed that, under a standard assumption on nominal price stickiness, empirical frequencies of micro price adjustment cannot...
Persistent link: https://www.econbiz.de/10005778645
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The Balassa-Samuelson Hypothesis in Developed Countries and Emerging Market Economies: Different Outcomes Explained
García Solanes, José; Torrejón-Flores, Fernando - Institut für Weltwirtschaft (IfW) - 2008
This paper studies the Balassa-Samuelson hypothesis in two areas with strong differences in economic development, sixteen OECD countries and sixteen Latin American economies. Applying panel cointegration and bootstrapping techniques that solve for cross-sectional dependence problems in the data,...
Persistent link: https://www.econbiz.de/10005059047
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Lost in Transit: Product Replacement Bias and Pricing to Market
Nakamura, Emi; Steinsson, Jon - National Bureau of Economic Research (NBER) - 2009
The microdata underlying U.S. import and export price indexes exhibit frequent product turnover and highly rigid prices. As a consequence, 40% of products are replaced before a single price change is observed and 70% are replaced after two price changes or less. An aggregate price index that...
Persistent link: https://www.econbiz.de/10005050107
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Real exchange rate dynamics in Macedonia: Old wisdoms and new insights
Bogoev, Jane; Bojceva Terzijan, Sultanija; Égert, Balázs - Institut für Weltwirtschaft (IfW) - 2007
irrelevance of the Balassa-Samuelson effect for overall inflation via service prices in the CPI. Furthermore, we estimate variants …
Persistent link: https://www.econbiz.de/10005026944
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The Stock-Flow Approach to the Real Exchange Rate of CEE Transition Economies
Egert, Balazs; Lahrèche-Révil, Amina; Lommatzsch, Kirsten - Centre d'études prospectives et d'informations … - 2004
Persistent link: https://www.econbiz.de/10005607369