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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

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

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

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

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

The Pass-Through to Consumer Prices in CIS Economies : The Role of Exchange Rates, Commodities and Other Common Factors

Comunale, Mariarosaria - 2019

This empirical study considers the pass-through of key nominal exchange rates and commodity prices to consumer prices in the Commonwealth of Independent States (CIS), taking into account the effect of idiosyncratic and common factors influencing prices. In order to do that, given the...

Persistent link: https://www.econbiz.de/10012902683

The Economic Transmission of Fiscal Policy Shocks from Western to Eastern Europe

Cuaresma, Jesús Crespo - 2011

This paper studies the transmission of a foreign fiscal policy shock (assumed to be generated in Germany) to key macroeconomic variables in five Central and Eastern European economies (CEE-5). We use quarterly data from 1995 to 2009 and estimate an open economy structural vector autoregressive...

Persistent link: https://www.econbiz.de/10013123508

Russian Fiscal Policy During the Financial Crisis

Ponomarenko, Alexey A. - 2010

This study examines the expanding role of fiscal policy at a time of financial crisis. It analyses the stimulative fiscal measures of the Russian government in 2008-2010 and compares these with similar actions taken in other countries. The risks and limitations associated with the development...

Persistent link: https://www.econbiz.de/10013138901

Fiscal Policy and Regional Output Volatility : Evidence from Russia

Eller, Markus - 2014

This paper investigates the relationship between fiscal policy and output volatility in Russian regions between 2000 and 2009. System GMM estimation techniques are used to account for potential endogeneity between output volatility and fiscal developments. Our main finding is that fiscal...

Persistent link: https://www.econbiz.de/10013063555

Fiscal Explanations for Inflation : Any Evidence from Transition Economics?

Komulainen, Tuomas - 2007

inflation for three crisis-hidden transition economies (Bulgaria, Romania and Russia). The results indicate that while fiscal … deficits have increased inflation in Bulgaria to a certain extent, this has not been the case in Romania and Russia. Even in … the Bulgarian case, the usual money aggregate has proven more influential to inflation than fiscal deficits. The analysis …

Persistent link: https://www.econbiz.de/10012732387