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Investigating the Balassa-Samuelson Hypothesis in Transition : Do We Understand What We See?

Égert, Balázs - 2007

economies during the period 1991:Q1 to 2001:Q2. However, productivity growth does not fully translate into price in-creases due … to the structure of CPI indexes. We thus argue that productivity growth will not hinder the ability of the five EU … accession candidates to meet the Maastricht criterion on inflation in the medium term. Moreover, the observed appreciation of …

Persistent link: https://www.econbiz.de/10014224061

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

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

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

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

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

Fiscal Explanations for Inflation : Any Evidence from Transition Economies?

Komulainen, Tuomas - 2016

Persistent link: https://www.econbiz.de/10012991934

Exchange and Interest Rate Channels During a Deflationary Era - Evidence from Japan, Hong Kong and China

Mehrotra, Aaron N. - 2007

We examine the role of the exchange and interest rate channels during recent deflation episodes in Japan, Hong Kong and China. We estimate open-economy structural vector autoregressive (SVAR) models for the three economies with different monetary regimes and varying degrees of openness. In both...

Persistent link: https://www.econbiz.de/10014225267