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Capital Flows, Real Exchange Rates, and Capital Controls : Some Latin American Experiences

Edwards, Sebastian - 1998

This paper deals with some of the most important aspects of Latin America's experience with capital flows during the last twenty-five years. The paper begins with a historical analysis. I then deal with the sequencing of reform and discuss issues related to the relationship between capital...

Persistent link: https://www.econbiz.de/10012472013

Capital Inflows into Latin America : A Stop-Go Story?

Edwards, Sebastian - 1998

This paper deals with Latin America's experience with capital flows during the last decade and a half. It concentrates on a number of issues of increasing interest among academics and international observers, including the effect of capital inflows on domestic savings, the way in which capital...

Persistent link: https://www.econbiz.de/10012472364

The Price Impact of Joining a Currency Union : Evidence from Latvia

Cavallo, Alberto - 2014

consumption goods. We consider the case of Latvia, which recently dropped its pegged exchange rate and joined the euro zone. We … between Latvia and euro zone countries collapsed swiftly following entry to the euro. The percentage of goods with nearly … identical prices in Latvia and Germany increased from 6 percent to 89 percent. The median size of price differentials declined …

Persistent link: https://www.econbiz.de/10012458441

What Explains the Gender Gap in Wealth? Evidence from Administrative Data

Meriküll, Jaanika - 2020

This paper studies the gender gap in net wealth. We use administrative data on wealth that are linked to the Estonian Household Finance and Consumption Survey, which provides individual-level wealth data for all household types. We find that the unconditional gender gap in mean wealth is 45% and...

Persistent link: https://www.econbiz.de/10012481878

On the Instability of Variance Decompositions of the Real Exchange Rate across Exchange-Rate-Regimes : Evidence from Mexico and the United States

Mendoza, Enrique G. - 2000

Variance decompositions of the Mexico-United States real exchange rate are examined using monthly data on consumer prices and the nominal exchange rate for the period January, 1969 to February, 2000. The results show that the robust result found in industrial-country data that most of the...

Persistent link: https://www.econbiz.de/10012470982

Price Level Convergence Among United States Cities : Lessons for the European Central Bank

Cecchetti, Stephen G. - 2000

We study the dynamics of price indices for major U.S. cities using panel econometric methods and find that relative price levels among cities mean revert at an exceptionally slow rate. In a panel of 19 cities from 1918 to 1995, we estimate the half-life of convergence to be approximately nine...

Persistent link: https://www.econbiz.de/10012471080

Potential Pitfalls for the Purchasing-Power-Parity Puzzle? Sampling and Specification Biases in Mean-Reversion Tests of the Law of One Price

Taylor, Alan M. - 2000

The PPP puzzle is based on empirical evidence that international price differences for individual goods (LOOP) or baskets of goods (PPP) appear highly persistent or even non-stationary. The present consensus is these price differences have a half-life that is of the order of five years at best,...

Persistent link: https://www.econbiz.de/10012471192

Job Creation, Job Destruction, and the Real Exchange Rate

Klein, Michael W. - 2000

This paper contributes to an understanding of internationally generated adjustment costs by demonstrating a statistically significant and economically relevant effect of the real exchange rate on job creation and job destruction in U.S. manufacturing industries over the period 1973 to 1993. The...

Persistent link: https://www.econbiz.de/10012471310

Market Structure and the Persistence of Sectoral Real Exchange Rates

Cheung, Yin-Wong - 1999

We examine the relationship between market structure and the persistence of U.S. dollar-based sectoral real exchange rates for fourteen OECD countries. Our empirical results based on disaggregated data suggest that differences in market structure significantly determine the rates at which...

Persistent link: https://www.econbiz.de/10012471377

Exchange Rates in Emerging Economies : What Do We Know? What Do We Need to Know?

Edwards, Sebastian - 1999

Exchange rates have been at the center of economic debates in emerging economies. Issues related to the feasibility of flexible exchange rates, the relationship between exchange rate volatility and growth, and the role of exchange rate overvaluation in recent crises, among other, have been...

Persistent link: https://www.econbiz.de/10012471561

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