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unequivocally clear picture of the trade impacts of changes in exchange rates. The impact of exchange rate volatility on trade also … their volatility on trade flows in China, the Euro area and the United States in two broadly defined sectors, agriculture on … the one hand and manufacturing and mining on the other. It finds that exchange volatility impacts trade flows only …
Persistent link: https://www.econbiz.de/10010899210
After years of low macroeconomic volatility since the early eighties, well documented and referred to as the Great … countries. This Great Recession period was characterized by a sharp apparent increase in output volatility. In this paper we … evaluate whether this sudden event is likely to be temporary. Whether or not this new volatility regime is likely to persist …
Persistent link: https://www.econbiz.de/10010747962
New fast estimation methods stemming from control theory lead to a fresh look at time series, which bears some … of the volatility with respect to the forecasted trendline, are provided. $\mathcal{Z}$-transform and differential …
Persistent link: https://www.econbiz.de/10008791958
This paper studies how firm-level export performance is affected by Real Exchange Rate (RER) volatility and … than 100,000 Chinese exporters over the 2000-2006 period. We confirm a trade-deterring effect of RER volatility. We find … with a higher exchange rate volatility and that this effect is magnified for financially vulnerable firms. As expected …
Persistent link: https://www.econbiz.de/10010775729
This paper analyzes the relation between nominal exchange rate volatility and several macroeconomic variables, namely … rate volatility is associated with higher growth, higher stocks of FDI, higher current account deficits, and higher excess …
Persistent link: https://www.econbiz.de/10008792016
Was colonization very costly for the metropole? This view has been widely accepted among French historians even though little empirical evidence has been provided. Using original data from the colonial budgets of French West Africa (AOF) this paper provides new insights into the actual colonial...
Persistent link: https://www.econbiz.de/10010738869
Since the independences, having a single currency is an official policy objective of West African countries. In April 2000, West African decisions-makers decided to accelerate the integration of the region by creating a second monetary zone in addition to the WAEMU (West African Economic and...
Persistent link: https://www.econbiz.de/10008793647
There are continuing efforts at the monetary integration and unionization in West Africa. Several academics argue that a monetary union among West African states would be costly because of the magnitude of asymmetric shocks. A common monetary policy is inappropriate and ineffective to respond to...
Persistent link: https://www.econbiz.de/10008794414
This paper attempts to analyze the relationships between the ASEAN-5 countries' business cycles. We examine the nature of business cycles correlation trying to disentangle between regional spillover effects (expansion and recession phases among the ASEAN-5 are correlated) and global spillovers...
Persistent link: https://www.econbiz.de/10010933854
We study the long-run relationship of real exchanges rates (RERs) among the ASEAN-5 countries by testing the theory of Generalized Purchasing Power Parity (G-PPP) from the new perspective of fractional cointegration. The long-run co-movements of the RERs are examined by applying a recent...
Persistent link: https://www.econbiz.de/10010933925