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Purchasing power parity: an empirical study of three EMU countries
Duarte, António Portugal - EconWPA - 2005
We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market …-integration. We worked with linear long-run relationships based exclusively on PPP, as well as with long-run relations that also … allowed for the effect of interest rates. In a situation in which PPP does not hold, one could think that on account of some …
Persistent link: https://www.econbiz.de/10005124909
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Purchasing power parity: an empirical study of three EMU countries
Duarte, António Portugal - EconWPA - 2005
We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market …-integration. We worked with linear long-run relationships based exclusively on PPP, as well as with long-run relations that also … allowed for the effect of interest rates. In a situation in which PPP does not hold, one could think that on account of some …
Persistent link: https://www.econbiz.de/10005408164
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A Structural Model of the Inflation Process in South Africa
Aron, Janine; Muellbauer, John; Smit, Benjamin - EconWPA - 2004
We build a 4-equation model of the inflation process in South Africa (which has recently adopted inflation targeting), including the exchange rate, consumer prices, producer price, and import prices. This provides useful information on the speed and extent of exchange rate pass- through, and...
Persistent link: https://www.econbiz.de/10005556034
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A Framework for Forecasting the Components of the Consumer Price
Aron, Janine; Muellbauer, John; Pretorius, Coen - EconWPA - 2004
Inflation is a far from homogeneous phenomenon, but this fact is ignored in most work on consumer price inflation. Using a novel methodology grounded in theory, the ten sub-components of the consumer price index (excluding mortgage interest rates, or CPIX) for South Africa are modeled separately...
Persistent link: https://www.econbiz.de/10005062419
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Real Exchange Rate Misalignment in Turkey, 1987-2003 (in Turkish)
Kibritcioglu, Aykut; Kibritcioglu, Bengi - EconWPA - 2004
Real exchange rate misalignment measures deviations of actual real exchange rate from its long-run, or equilibrium, level. Policy makers and many researchers are interested in predicting and monitoring misalignment in the foreign exchange market, because, in many cases, it is closely related to...
Persistent link: https://www.econbiz.de/10005412763
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Is corporatism feasible?
Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2005
This paper investigates the effects of cooperation (corporatism) on macroeconomic performance by considering a rather standard policy game between the government and a monopoly union. We stress the shortcomings of the traditional way used to model cooperation in policy games (the maximization of...
Persistent link: https://www.econbiz.de/10005412619
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Is corporatism feasible?
Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2003
In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis-à-vis different kinds of non-co-operative equilibria. Afterwards, we introduce in the literature the issue...
Persistent link: https://www.econbiz.de/10005076716
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A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs
Goswami, Gautam; Shrikhande, Milind; Wu, Liuren - EconWPA - 2002
We study the behavior of real exchange rates in a two­country dynamic equilibrium model. In this model, consumers can only consume domestic goods but can invest costlessly in capital stocks of both countries. Nevertheless, transporting goods between the two countries is costly and, hence, the...
Persistent link: https://www.econbiz.de/10005076998
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The Portuguese Disinflation Process: Analysis of Some Costs and Benefits
Duarte, António Portugal - EconWPA - 2005
This study aims to analyse the Portuguese economic policy of disinflation through a nominal stabilization policy of the Portuguese escudo. We study the pegging of the Portuguese escudo (PTE) to the Deutsch mark (DM) knowing the reputation of the Bundesbank for its anti- inflationary record and...
Persistent link: https://www.econbiz.de/10005556600
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Inflation, Output, and Stabilization in a High Inflation Economy: Turkey, 1980-2000
Dibooglu, Selahattin; Kibritcioglu, Aykut - EconWPA - 2001
This paper surveys and examines the sources of fluctuations in inflation and output in Turkey. Using a dynamic open economy aggregate supply - aggregate demand model with imperfect capital mobility and structural vector-autoregressions, the authors consider real oil price, supply, balance of...
Persistent link: https://www.econbiz.de/10005126163