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The Monetary Approach to the Exchange Rate; Rational Expectations, Long-Run Equilibrium and Forecasting
MacDonald, Ronald; Taylor, Mark P. - International Monetary Fund (IMF) - 1992
We re-examine the monetary approach to the exchange rate from a number of perspectives, using monthly data on the deutschemark-dollar exchange rate. Using the Campbell-Shiller technique for testing present value models, we reject the restrictions imposed upon the data by the forward-looking...
Persistent link: https://www.econbiz.de/10005263652
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Determinants of Inflation in the Islamic Republic of Iran; A Macroeconomic Analysis
Liu, O.; Adedeji, Olumuyiwa - International Monetary Fund (IMF) - 2000
This study establishes a framework for analyzing the major determinants of inflation in the Islamic Republic of Iran … stabilize the foreign exchange market. The estimation shows that an excess money supply generates an increase in the rate of …
Persistent link: https://www.econbiz.de/10005825654
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What Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador
Cáceres, Luis René; Saca, Nolvia Nery - International Monetary Fund (IMF) - 2006
Family remittances are important for El Salvador's economy. This paper analyzes the impact of remittances on El Salvador's economy and the spillover effects on the other Central American countries. A vector autoregression (VAR) model is formulated, consisting of real and monetary variables. The...
Persistent link: https://www.econbiz.de/10005599260
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Exchange Rate Regime Considerations in an Oil Economy; The Case of the Islamic Republic of Iran
Celasun, Oya - International Monetary Fund (IMF) - 2003
This paper provides a brief overview of the evolution of exchange rate policy in the Islamic Republic of Iran from 1993 …
Persistent link: https://www.econbiz.de/10005599261
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Myanmar; 2013 Article IV Consultation and First Review Under the Staff-Monitored Program
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights that recent economic developments in Myanmar have been positive. Growth is estimated to have risen to 6½ percent in FY2012/13 (April–May), driven by gas production, construction and services while inflation climbed to 4.7 percent in March...
Persistent link: https://www.econbiz.de/10011244604
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Bivariate Assessments of Real Exchange Rates Using PPP Data
Zalduendo, Juan - International Monetary Fund (IMF) - 2008
This paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are …
Persistent link: https://www.econbiz.de/10005825611
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Aggregation of Economic Indicators Across Countries; Exchange Rate versus PPP Based GDP Weights
Schulze-Gattas, Marianne; Gulde, Anne Marie - International Monetary Fund (IMF) - 1992
purchasing power parity (PPP) rates. A review of the empirical evidence on the relationship between exchange rates and prices … suggests that market (or official) exchange rates are generally poor proxies for PPP rates. The paper examines the PPP …-based GDP data generated by the International Comparison Program and compares aggregations with PPP- and exchange rate-based GDP …
Persistent link: https://www.econbiz.de/10005825834
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Nonlinear Exchange Rate Models; A Selective Overview
Sarno, Lucio - International Monetary Fund (IMF) - 2003
whether nonlinear autoregressive models of real exchange rates help resolve the "purchasing power parity (PPP) puzzles." The …
Persistent link: https://www.econbiz.de/10005825647
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In Which Exchange Rate Models Do Forecasters Trust?
Lee, Jaewoo; Takizawa, H.; Hauner, David - International Monetary Fund (IMF) - 2011
and productivity differentials, indicating that the relative PPP and Balassa-Samuelson effect are common inputs into …
Persistent link: https://www.econbiz.de/10009147326
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Currency Substitution in Developing Countries; An Introduction
Calvo, Guillermo; Gramont, Carlos A. Végh - International Monetary Fund (IMF) - 1992
This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how the presence of currency substitution affects the choice of nominal anchors in...
Persistent link: https://www.econbiz.de/10005769096