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External Adjustment in Oil Exporters : The Role of Fiscal Policy and the Exchange Rate

Behar, Alberto - 2016

After the decline in oil prices, many oil exporters face the need to improve their externalbalances. Special characteristics of oil exporters make the exchange rate an ineffectiveinstrument for this purpose and give fiscal policy a sizeable role. These conclusions aresupported by regression...

Persistent link: https://www.econbiz.de/10012977864

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

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

To Smooth or Not to Smooth - the Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan

Petri, Martin - 2006

This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other...

Persistent link: https://www.econbiz.de/10012779036

A Small Foreign Exchange Market with a Long-Term Peg : Barbados

Craigwell, Roland - 2006

This paper is a first analysis of daily transactions in the foreign exchange market of Barbados, a small open economy that has had an unchanged peg to the U.S. dollar for over 30 years. As a result of the credibility of the peg, we expect that capital flows will respond to differentials between...

Persistent link: https://www.econbiz.de/10012779103

Exchange Rate Bands and Shifts in the Stabilization Policy Regime : Issues Suggested by the Experience of Colombia

Carrasquilla, Alberto - 2006

bands were part of an ongoing effort to reduce high inflation. This paper argues that the change in regime was motivated by … a change in policy objectives. Starting from a policy whose rationale implied targeting stable inflation, a simple … analytical model of optimal policy is presented; initial results with the new regime suggest that inflation is now considered …

Persistent link: https://www.econbiz.de/10012781913

Exchange Rates and Trade : A Disconnect?

Leigh, Daniel - 2017

We examine the stability and strength of the relationship between exchange rates and trade over time using three alternative approaches, mitigating the endogeneity of the relation. We find that both exchange rate pass-through and the price elasticity of trade volumes are largely stable over...

Persistent link: https://www.econbiz.de/10012956490

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

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

Comfort in Floating : Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile

Albagli, Elias - 2020

Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile's...

Persistent link: https://www.econbiz.de/10012828243

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