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The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations

Burstein, Ariel - 2005

Persistent link: https://www.econbiz.de/10012466973

Real Exchange Rate Movements and the Relative Price of Non-traded Goods

Betts, Caroline M. - 2008

We study the quarterly bilateral real exchange rate and the relative price of non-traded to traded goods for 1225 country pairs over 1980-2005. We show that the two variables are positively correlated, but that movements in the relative price measure are smaller than those in the real exchange...

Persistent link: https://www.econbiz.de/10012464210

Private Consumption, Nontraded Goods and Real Exchange Rate : A Cointegration_Euler Equation Approach

Lin, Kenneth S. - 1996

This paper presents an empirical study of real exchange rate movements from a consumer's perspective. Trade between two countries creates a link between real exchange rate and terms of trade. It is the private consumption of non-traded goods that induces an equilibrium relationship between real...

Persistent link: https://www.econbiz.de/10012473107

National Price Levels and the Prices of Tradables and Nontradables

Kravis, Irving B. - 1988

by the structural equations tended to move toward those predicted levels …

Persistent link: https://www.econbiz.de/10012476531

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

Clarida, Richard - 1994

collapse of Bretton Woods. The paper's first two sections survey and extend earlier, non-structural empirical work on this … identify the model's structural shocks - to demand, supply, and money -using the approach pioneered by Blanchard and Quah (1989 …). For two of the four countries we study, Germany and Japan, our structural estimates imply that monetary shocks, to money …

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

The Current Account and the Real Exchange Rate : A Structural VAR Analysis of Major Currencies

Lee, Jaewoo - 1998

A sticky-price model is used to motivate a structural VAR analysis of the current account and the real exchange rate …

Persistent link: https://www.econbiz.de/10012472307

Real Exchange Rate Levels, Productivity and Demand Shocks : Evidence from a Panel of 14 Countries

Chinn, Menzie - 1996

This paper investigates the determinants of the real exchange rate using a panel of disaggregated data for the OECD countries. It also marries two literatures - one which uses panel data to measure relationships between changes in exchange rates to changes in the determinants, and the other...

Persistent link: https://www.econbiz.de/10012473129

The Harrod-Balassa-Samuelson Hypothesis : Real Exchange Rates and their Long-Run Equilibrium

Chong, Yanping - 2010

Frictionless, perfectly competitive traded-goods markets justify thinking of purchasing power parity (PPP) as the main driver of exchange rates in the long-run. But differences in the traded/non-traded sectors of economies tend to be persistent and affect movements in local price levels in ways...

Persistent link: https://www.econbiz.de/10012462782

Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Mendoza, Enrique G. - 2005

The dominant view in the empirical literature on exchange rates is that the high variability of real exchange rates is due to movements in exchange-rate-adjusted prices of tradable goods. This paper shows that this dominant view does not hold in Mexican data for the periods in which the country...

Persistent link: https://www.econbiz.de/10012466985

Large Devaluations and the Real Exchange Rate

Burstein, Ariel - 2004

In this paper we argue that the primary force behind the large drop in real exchange rates that occurs after large devaluations is the slow adjustment in the price of nontradable goods and services. Our empirical analysis uses data from five large devaluation episodes: Argentina (2001), Brazil...

Persistent link: https://www.econbiz.de/10012467701

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