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Commission, Productivity - EconWPA - 2001

competitiveness of the Australian black coal industry which are consistent with improving the overall performance of the Australian …

Persistent link: https://www.econbiz.de/10005556130

Exit Lucas, Reenter Keynes

Gani, Mohammad - EconWPA - 2004

Keynes (1936) said that shortage of money caused by hoarding or failure to invest led to unemployment, but Lucas (1972 …) said that money does not affect unemployment. The tables have now turned. Gani (2003) produced a model of indirect trade in … which money is necessary as a means of payment. Involuntary unemployment occurs under indirect exchange, just when the …

Persistent link: https://www.econbiz.de/10005561133

Exchange Rate as a Determinant of Foreign Direct Investment: Does it Really Matter? Theoretical Aspects, Literature Review and Applied Proposal.

Ruiz, Isabel - EconWPA - 2005

This paper re-examines the role of exchange rates as determinant of FDI. It extends the analysis to include the issue of how exchange rates determine the decision of invest in one country depending on whether the firm is deciding to invest on the country to service the local market or to invest...

Persistent link: https://www.econbiz.de/10005556427

Can the SupLR test discriminate between different switching

Lanouar, CHARFEDDINE - EconWPA - 2005

In recent years two classes of switching models have been proposed, the Markov switching models, Hamilton (1989) and the Threshold Auto- Regressive Models (TAR), Lim and Tong (1980). These two models have the advantage of being able to modelize and capture asymmetry, sudden changes and...

Persistent link: https://www.econbiz.de/10005556594

CAUSAL RELATIONSHIPS BETWEEN EXCHANGE RATES AND STOCK PRICES IN MALAYSIA AND THAILAND DURING THE 1997 CURRENCY CRISIS TURMOIL

Hussain, Huzaimi; Liew, Venus Khim-Sen - EconWPA - 2004

Using Granger (1969), Sim (1972) and Geweke et al. (1982) causality tests, this study finds a feedback causal relationship between exchange rate and stock price in Malaysia, whereas a unidirectional causal relationship running from exchange rate to stock price in Thailand. The stock markets of...

Persistent link: https://www.econbiz.de/10005556595

Real Exchange Rate Behavior Under Floating and Fixed Regimes

Lothian, James R.; McCarthy, Cornelia H. - EconWPA - 2003

In this paper we examine the stability of the real exchange rate and the macroeconomic effects of alternative exchange-rate regimes, including currency union, on real exchange-rate behaviour. We focus on the Irish punt in order to exploit its diversity of experience over different nominal...

Persistent link: https://www.econbiz.de/10005556665

The monetary approach to exchange rates in the CEECs

Crespo-Cuaresma, Jesús; Fidrmuc, Jarko; McDonald, Ronald - EconWPA - 2004

A panel data set for six Central and Eastern European countries (the Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia) is used to estimate the monetary exchange rate model with panel cointegration methods, including the Pooled Mean Group estimator, the Fully Modified Least Square...

Persistent link: https://www.econbiz.de/10005561077

Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks (Currencies, Competition, and Clans)

Engelmann, Dirk; Hanousek, Jan; Kocenda, Evzen - EconWPA - 2004

We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates … of as a competition to link smaller currencies to a leading currency that is motivated by the fact that such a tie …

Persistent link: https://www.econbiz.de/10005561175

A Short Review of the Long History of Turkish High Inflation

Kibritcioglu, Aykut - EconWPA - 2004

After experiencing high and persistent inflation for more than two decades, Turkey is entering a period of single-digit inflation again. Following a summary of the macroeconomic developments occurred since early 1970s, this paper attempts to survey the empirical literature both on the dynamics...

Persistent link: https://www.econbiz.de/10005561273

The Real Interest Differential Model after Twenty Years

Isaac, Alan G.; Mel, Suresh de - EconWPA - 1999

It has been twenty years since Frankel (1979) offered the classic empirical support for the Dornbusch (1976) overshooting model against the simple monetary approach model, and almost that long since Driskill and Sheffrin (1981) uncovered some important inconsistencies between Frankel’s...

Persistent link: https://www.econbiz.de/10005124947

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