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Investment Prices and Exchange Rates: Some Basic Facts

Burstein, Ariel Tomas; Neves, Joao C; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 2004

This Paper documents four basic facts about investment goods and investment prices. First, investment has a very …

Persistent link: https://www.econbiz.de/10005662174

The Importance of Nontradeable Goods' Prices in Cyclical Real Exchange Rate Fluctuations

Burstein, Ariel Tomas; Eichenbaum, Martin; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 2005

Changes in the price of nontradable goods relative to tradable goods account for roughly 50% of the cyclical movements in real exchange rates.

Persistent link: https://www.econbiz.de/10005666669

Is Europe an Optimum Currency Area?

Eichengreen, Barry - C.E.P.R. Discussion Papers - 1990

. Real securities prices, a measure of the incentive to reallocate productive capital across regions, appear considerably …

Persistent link: https://www.econbiz.de/10005497995

The Purchasing Power Parity Debate

Taylor, Alan M.; Taylor, Mark P - C.E.P.R. Discussion Papers - 2004

Originally propounded by the 16th-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to re-establish international exchange rate parities. Broadly...

Persistent link: https://www.econbiz.de/10005662378

Real Exchange Rates and Sectoral Productivity in the Eurozone

Berka, Martin; Devereux, Michael B; Engel, Charles M - C.E.P.R. Discussion Papers - 2014

We investigate the link between real exchange rates and sectoral total factor productivity measures for countries in … previous studies that have found little relationship between productivity levels and the real exchange rate among high …

Persistent link: https://www.econbiz.de/10011083214

The Foreign Exchange Risk Premium in a Target Zone with Devaluation Risk

Svensson, Lars E O - C.E.P.R. Discussion Papers - 1991

The foreign exchange risk premium in an exchange rate target-zone regime with devaluation/realignment risks is derived. In contrast to previous literature, the exchange rate's heteroscedasticity within the band, as well as a separate devaluation/realignment risk, is taken into account. The risk...

Persistent link: https://www.econbiz.de/10005788869

Charts, Noise and Fundamentals: A Study of the London Foreign Exchange Market

Taylor, Mark P - C.E.P.R. Discussion Papers - 1989

Recent research in financial economics has concentrated on the role of non-economic, or non-fundamentalist, speculators in asset markets. This paper presents some empirical evidence concerning the nature and perceived importance of a major form of non-fundamentalist analysis, chartism, in the...

Persistent link: https://www.econbiz.de/10005281398

A Two-Country Model with Asymmetric Phillips Curves and Intervention in the Foreign Exchange Market

Artis, Michael J; Gazioglu, Saziye - C.E.P.R. Discussion Papers - 1987

In this paper simulation methods are employed on a two-country, rational expectations continuous-time model to explore the consequences of asymmetrical wage-price processes. As an additional feature the effects are explored of reductions in the degree of financial integration between the two...

Persistent link: https://www.econbiz.de/10005662381

Manufacturing Restructuring and the Role of Real Exchange Rate Shocks

Ekholm, Karolina; Moxnes, Andreas; Ulltveit-Moe, … - C.E.P.R. Discussion Papers - 2008

productivity and restructuring. Unlike previous studies we are able to account for the heterogeneity across firms in their exposure … by increasing productivity. The RER shock was associated with substantial within-firm productivity gains for net … exporters; gains that seem to have come about partly through technological improvements. The productivity gains also appear to …

Persistent link: https://www.econbiz.de/10005666743

Purchasing Power Parity and the Real Exchange Rate

Sarno, Lucio; Taylor, Mark P - C.E.P.R. Discussion Papers - 2001

We assess the progress made by the profession in understanding real exchange rate behaviour, through a selective and critical but nonetheless expository review of the literature. Our reading of the literature leads us to the main conclusions that purchasing power parity might be viewed as a...

Persistent link: https://www.econbiz.de/10005662032

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