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Capital Flows and their Impact on the Real Effective Exchange Rate
Combes, Jean-Louis; Plane, Patrick; Kinda, Tidiane - HAL - 2011
This paper analyzes the impact of capital inflows and the exchange rate regime on the real effective exchange rate. A wide range of developing countries (42 countries) is considered with estimation based on panel cointegration techniques. The results show that both public and private inflows...
Persistent link: https://www.econbiz.de/10008793645
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Macroeconomic trouble and policy challenges in the wake of the financial bust
Asensio, Angel - HAL - 2010
public deficits and inflationary pressures. The paper aims at discussing these new challenges. The inadequacy of inflation …
Persistent link: https://www.econbiz.de/10008794219
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Foreign Direct Investment, Macroeconomic Instability And Economic Growth in MENA Countries
Gbakou, Monnet; Jallab, Mustapha Sadni; Sandretto, René - HAL - 2008
This paper aims at analyzing the possible influence of foreign direct investment (FDI) on economic growth in the particular case of Middle East and North African countries (MENA). During the last years, the relation between FDI and growth in LDCs has been discussed extensively in the economic...
Persistent link: https://www.econbiz.de/10008791657
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The impact of monetary policy signals on the intradaily euro-dollar volatility
Mokhtar, Darmoul - HAL - 2006
In this paper, we investigate the impact of monetary policy signals stemming from the ECB Council and the FOMC on the intradaily Euro-dollar volatility, using high-frequency data (five minutes frequency). For that, we estimate an AR(1)-GARCH(1,1) model, which integrates a polynomials structure...
Persistent link: https://www.econbiz.de/10010750789
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To what extent do exchange rates and their volatility affect trade ?
Huchet-Bourdon, Maryline; Korinek, J. - HAL - 2011
Trade deficits and surpluses are sometimes attributed to intentionally low or high exchange rate levels. The impact of exchange rate levels on trade has been much debated but the large body of existing empirical literature does not suggest an unequivocally clear picture of the trade impacts of...
Persistent link: https://www.econbiz.de/10010899210
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Government Spending, Monetary Policy, and the Real Exchange Rate
Eyquem, Aurélien; Bouakez, Hafedh - HAL - 2012
A robust prediction across a wide range of open-economy macroeconomic models is that an unanticipated increase in public spending in a given country appreciates it currency in real terms. This result, however, contradicts the findings of a number of recent empirical studies, which instead...
Persistent link: https://www.econbiz.de/10009401096
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Integration, real exchange rate and growth
Gente, Karine; Nourry, Carine - HAL - 2011
This paper deals with the relationship between real exchange rate and growth in the process of economic integration. Using a 2x2x2 model of overlapping generations, we show that growth depends on the real exchange rate (RER) through human capital accu- mulation. Integration leads to convergence...
Persistent link: https://www.econbiz.de/10010899708
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Real Exchange Rate and Economic Growth: Evidence from Chinese Provincial Data (1992 - 2008)
Chen, Jinzhao - HAL - 2012
This paper studies the convergence, and the role of internal real exchange rate on economic growth in the Chinese provincial level. Using informal growth equation à la Barro [1991] and dynamic panel data estimation, we find conditional convergence among the coastal provinces and among inland...
Persistent link: https://www.econbiz.de/10010738816
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Monetary information arrivals and intraday exchange rate volatility : a comparison of the GARCH and the EGARCH models
Mokhtar, Darmoul; Harrathi, Nizar - HAL - 2007
In this article, we examine the intradaily Euro-dollar exchange rate volatility persistence result from the dissymmetric impact of monetary policy signals stemming from the ECB Council and the FOMC. A model is constructed by extending the AR(1)-GARCH (1,1) to an exponential process EGARCH (1,1),...
Persistent link: https://www.econbiz.de/10010750845
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Which predictor is the best to predict inflation in Europe: the real money-gap or a nominal money based indicator?
Dufrénot, Gilles; Joyeux, Roseline; Peguin-Feissolle, Anne - HAL - 2008
central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …
Persistent link: https://www.econbiz.de/10008793951