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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

Exchange Rate Pass-Through, Monetary Policy, and Real Exchange Rates : Iceland and the 2008 Crisis

Edwards, Sebastian; Cabezas, Luis - National Bureau of Economic Research - 2021

We use detailed data for Iceland to examine two often-neglected aspects of the "exchange rate pass-through" problem. First, we investigate whether the pass-through coefficient varies with the degree of "international tradability" of goods. Second, we analyze if the pass-through coefficient...

Persistent link: https://www.econbiz.de/10012496073

An Alternative Interpretation of the 'Resource Curse' : Theory and Policy Implications

Hausmann, Ricardo - 2003

between two building blocks: specialization in non-tradables and financial market imperfections. We show that if a country has … generates significant volatility in the demand for non-tradables. However, when the non-resource tradable sector disappears, the … economy becomes much more volatile, because shocks to the demand for non-tradables - possibly associated with shocks to …

Persistent link: https://www.econbiz.de/10012469279

Revisiting the Commodity Curse : A Financial Perspective

Alberola, Enrique - 2017

We study the response of a three-sector commodity-exporter small open economy to a commodity price boom. When the economy has access to international borrowing and lending, a temporary commodity price boom brings about the standard wealth effect that stimulates demand and has long-run...

Persistent link: https://www.econbiz.de/10012455495

The Real Exchange Rate, Mercantilism and the Learning by Doing Externality

Aizenman, Joshua - 2008

This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...

Persistent link: https://www.econbiz.de/10012464794

Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based-Stabilizations

Burstein, Ariel T. - 2000

This paper studies the role played by the distribution sector in shaping the behavior of the real exchange rate during exchange-rate-based-stabilizations. We use data for the U.S. and Argentina to document the importance of distribution margins in retail prices and disaggregated price data to...

Persistent link: https://www.econbiz.de/10012470881

Microeconomic Sources of Real Exchange Rate Variability

Crucini, Mario J. - 2012

We provide three sets of variance decompositions on microeconomic international relative price data. The first shows that the overall distribution of absolute deviations from the Law of One Price (LOP) is dominated by cross-sectional variation in long-term averages, not by time-series variation...

Persistent link: https://www.econbiz.de/10012460681

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

This paper examines changes in national price levels and prices of tradables and nontradables and relates them to … price levels increase systematically with the level of a country's per capita income, and the ratios of tradables to … income are associated with declines in the ratio of tradables to nontradables price levels more consistently than with the …

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

Trade and Workforce Changeover in Brazil

Muendler, Marc-Andreas - 2007

-Ohlin trade theory for a low-skill abundant economy, classic trade theory is a less useful guide to the observed reallocation …

Persistent link: https://www.econbiz.de/10012465676

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