Narrow search
Showing 11 - 20 of 100
Cover Image
Real-Time Time-Varying Equilibrium Interest Rates: Evidence on the Czech Republic
Horváth, Roman - William Davidson Institute, University of Michigan - 2006
that there is substantial interest rate smoothing and central bank primarily responds to inflation (forecast) developments …
Persistent link: https://www.econbiz.de/10005652667
Cover Image
Catching-up and inflation in Europe: Balassa-Samuelson, Engel’s Law and other Culprits
Egert, Balazs - William Davidson Institute, University of Michigan - 2010
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel’s Law may hold during …
Persistent link: https://www.econbiz.de/10008606472
Cover Image
Real Convergence, Price Level Convergence and Inflation Differentials in Europe
Egert, Balazs - William Davidson Institute, University of Michigan - 2007
root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …
Persistent link: https://www.econbiz.de/10005784635
Cover Image
Yuan Real Exchange Rate Undervaluation, 1997-2006. How Much, How Often? Not Much, Not Often
Chen, Jeff; Deng, Wende; Kemme, David - William Davidson Institute, University of Michigan - 2008
Yuan real effective exchange rate misalignment is esitimated in a behavioral equilibrium exchange rate (BEER) model for the period 1997 to third quarter 2007. Using the Beveridge-Nelson decomposition a vector error correction model (VECM) of the exchange rate as a function of macroeconomic...
Persistent link: https://www.econbiz.de/10008529011
Cover Image
Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area
Cheikh, Nidhaleddine Ben; Rault, Christophe - William Davidson Institute, University of Michigan - 2014
the shift towards reduced inflation regimes in our sample of countries. Finally, we notice that the distinction between …
Persistent link: https://www.econbiz.de/10010936536
Cover Image
Equilibrium Real Exchange Rates in Central Europe's Transition Economies: Knocking on Heaven's Door
Égert, Balázs - William Davidson Institute, University of Michigan - 2002
The purpose of this paper is to study the equilibrium real exchange rate (ERER) in 5 CEE transition economies, namely the Czech Republic, Hungary, Poland, Slovakia and Slovenia. In so doing, we combine the fundamental equilibrium exchange rate (FEER) approach developed by Williamson (1994) with...
Persistent link: https://www.econbiz.de/10005207893
Cover Image
INTERNATIONAL FINANCIAL INTEGRATION AND REAL EXCHANGE RATE LONG-RUN DYNAMICS IN EMERGING COUNTRIES
RAULT, Christophe; CAPORALE, Guglielmo Maria; AMOR, … - William Davidson Institute, University of Michigan - 2009
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...
Persistent link: https://www.econbiz.de/10008529004
Cover Image
CURRENCY SUBSTITUTION: A CASE OF KAZAKHSTAN (2000:1-2007:12)
Yilmaz, Mesut; Oskenbayev, Yessengali; Abdulla, Kanat - William Davidson Institute, University of Michigan - 2009
This paper aims to investigate the demand for money in Kazakhstan. This study covers the period starting from 2000:01, when capital liberalization program was launched and National Bank approved managed float regime (National Bank employed adjustable exchange rate regime before exchange rate...
Persistent link: https://www.econbiz.de/10008529014
Cover Image
On the long-run determinants of real exchange rates for developing countries : Evidence from Africa, Latin America and Asia
Drine, Imed; Rault, Christophe - William Davidson Institute, University of Michigan - 2003
The main goal of this paper is to tackle the empirical issues of the real exchange rate litterature by applying recently developed panel cointegration techniques to a structural long-run real exchange rate equation. We consider here a sample of 45 developing countries, divided into three groups...
Persistent link: https://www.econbiz.de/10005677416
Cover Image
Testing for inflation convergence between the Euro Zone and its CEE partners
Drine, Imed; Rault, Christophe - William Davidson Institute, University of Michigan - 2005
We investigate inflation convergence between the Euro Zone and its CEE partners using panel data methods that …
Persistent link: https://www.econbiz.de/10005677477