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Exchange Rate Misalignment Estimates – Sources of Differences
Cheung, Yin-Wong - 2011
We study the differences in currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....
Persistent link: https://www.econbiz.de/10013119692
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Exchange Rate Misalignments : A Comparison of China Today Against Recent Historical Experiences of Japan, Germany, Singapore and Taiwan
He, Xinhua - 2011
propagating inflation in the home economy …
Persistent link: https://www.econbiz.de/10013121272
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Corporate Investment and the Exchange Rate : The Financial Channel
Banerjee, Ryan - 2020
Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These findings are consistent with the predictions of a...
Persistent link: https://www.econbiz.de/10012841849
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Money Shocks in a Small Open Economy with Dollarization, Factor Price Rigidities, and Nontradeables
Sarajevs, Vadims - 2007
The impact of an unanticipated monetary shock in a small open economy with dollarization, factor price rigidities, and nontradeables is re-examined in an optimizing intertemporal general equilibrium model. The framework of an earlier study is extended to incorporate foreign real money balances...
Persistent link: https://www.econbiz.de/10012729029
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Exchange Rates and Prices : Evidence from the 2015 Swiss Franc Appreciation
Auer, Raphael - 2019
The removal of the lower bound on the EUR/CHF exchange rate in January 2015 provides a unique setting to study the implications of a large and sudden appreciation in an otherwise stable macroeconomic environment. Using transaction-level data on non-durable goods purchases by Swiss consumers, we...
Persistent link: https://www.econbiz.de/10012896768
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The Dollar Exchange Rate as a Global Risk Factor : Evidence from Investment
Avdjiev, Stefan - 2018
Exchange rate fluctuations influence economic activity not only via the standard trade channel, but also through a financial channel, which operates through the impact of exchange rate fluctuations on borrowers' balance sheets and lenders' risk-taking capacity. This paper explores the...
Persistent link: https://www.econbiz.de/10012928838
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Corporate Investment and the Exchange Rate : The Financial Channel
Banerjee, Ryan; Hofmann, Boris; Mehrotra, Aaron N. - 2021
Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These findings are consistent with the predictions of a...
Persistent link: https://www.econbiz.de/10013250472
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Exchange Rate Fluctuations and the Financial Channel in Emerging Economies
Beckmann, Joscha; Comunale, Mariarosaria - 2021
This paper assesses the financial channel of exchange rate fluctuations for emerging countries and the link to the conventional trade channel. We analyze whether the effective exchange rate affects GDP growth, the domestic credit and the global liquidity measure as the credit in foreign...
Persistent link: https://www.econbiz.de/10013214255
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Bilaterial Equilibrium Exchange Rates of EU Accession Countries Against the Euro
Rahn, Jörg - 2007
We apply BEER and PEER approaches to calculate real equilibrium exchange rates for five EU accession countries in central and east Europe. Bilateral nominal equilibrium exchange rates against the euro are obtained through algebraic transformation of the results. Panel cointegration techniques...
Persistent link: https://www.econbiz.de/10014224092
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Globalisation and the Determinants of Domestic Inflation
White, William R. - 2014
The remarkable stability of low domestic inflation in many countries requires explanation. In this paper, a number of … continuing low inflation, but also its coexistence with rapid growth and low real interest rates. Unfortunately, the analysis … also leads to the conclusion that rising inflation, unwinding financial imbalances, or both, could easily follow the …
Persistent link: https://www.econbiz.de/10014218878