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Varieties and the Transfer Problem : The Extensive Margin of Current Account Adjustment

Corsetti, Giancarlo - 2008

Most analyses of the macroeconomic adjustment required to correct global imbalances ignore net exports of new varieties of goods and services and do not account for firms' entry in the product market. In this paper we revisit the macroeconomics of trade adjustment in the context of the classic...

Persistent link: https://www.econbiz.de/10012464851

Exchange Rates and Local Labor Markets

Goldberg, Linda - 1999

We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...

Persistent link: https://www.econbiz.de/10012471823

Exchange Rates and Uncovered Interest Differentials : The Role of Permanent Monetary Shocks

Schmitt-Grohé, Stephanie - 2018

We estimate an empirical model of exchange rates with transitory and permanent monetary shocks. Using monthly post-Bretton-Woods data from the United States, the United Kingdom, and Japan, we report four main findings: First, there is no exchange rate overshooting in response to either temporary...

Persistent link: https://www.econbiz.de/10012481028

Stuck on Gold : Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard

Chernyshoff, Natalia - 2005

thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … shocks if it ties the hands of policy makers. But any decision to forsake exchange-rate flexibility might compromise shock …

Persistent link: https://www.econbiz.de/10012466876

Sources of Real Exchange Rate Fluctuations : How Important are Nominal Shocks?

Clarida, Richard - 1994

relative to the dollar. We find that demand shocks, to national saving and investment, explain the majority of the variance in …

Persistent link: https://www.econbiz.de/10012474278

International Shocks and Domestic Prices : How Large Are Strategic Complementarities?

Amiti, Mary - 2016

How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...

Persistent link: https://www.econbiz.de/10012456555

Simple Variance Swaps

Martin, Ian - 2011

The large asset price jumps that took place during 2008 and 2009 disrupted volatility derivatives markets and caused the single-name variance swap market to dry up completely. This paper defines and analyzes a simple variance swap, a relative of the variance swap that in several respects has...

Persistent link: https://www.econbiz.de/10012461773

Existence of a competitive equilibrium in one sector growth model with heterogeneous agents and irreversible investment

Le Van, Cuong (contributor); Vailakis, Yiannis (contributor) - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001700042

Investment in Manufacturing, Exchange-Rates and External Exposure

Campa, Jose - 1993

This paper studies the linkage between exchange rates and investment. emphasizing the role of producer exposure through … appreciations reduced investment in durable goods sectors in the 1970s and stimulated investment after 1983. By contrast nondurables … sectors tended to absorb exchange rate changes in price over cost markups. Exchange rate volatility depressed investment but …

Persistent link: https://www.econbiz.de/10012474575

Equilibrium and Disequilibrium Exchange Rates

Dornbusch, Rudiger - 1982

The paper reviews theoretical developments in the field of exchange rate theory and assesses the empirical evidence …

Persistent link: https://www.econbiz.de/10012478122

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