Narrow search
Showing 1 - 10 of 1,149
Cover Image
Real and nominal wage adjustment in open economies
Forslund, Anders; Gottfries, Nils; Westermark, Andreas - 2006
How are wages set in an open economy? What role is played by demand pressure, international competition, and structural factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages and competitiveness? To answer these questions, we...
Persistent link: https://www.econbiz.de/10010261405
Cover Image
Nonlinearities and Asymmetric Adjustment to PPP in an Exchange Rate Model with Inflation Expectations
Anderl, Christina; Caporale, Guglielmo Maria - 2021
the presence of asymmetries both in the long- and short-run. In particular, the speed of adjustment towards the PPP … PPP. Moreover, inflation expectations play an important role, with survey-based ones having a more sizable effect than …
Persistent link: https://www.econbiz.de/10012581984
Cover Image
Reconsidering the price-income relationship across countries
Fujii, Eiji - 2013
This study reconsiders the well-known cross-country positive association between prices and income by focusing on heterogeneity between the inter-developed-country and inter-developing-country relationships. Empirical results reveal not only that developed and developing countries differ in...
Persistent link: https://www.econbiz.de/10010291651
Cover Image
A Jackknife Model Averaging Analysis of RMB Misalignment Estimates
Cheung, Yin-Wong - 2019
We adopt the Jackknife Model Averaging (JMA) technique to conduct a meta-regression analysis of 925 renminbi (RMB) misalignment estimates generated by 69 studies. The JMA method accounts for model selection and sampling uncertainties, and allows for non-nested model specifications and...
Persistent link: https://www.econbiz.de/10012861432
Cover Image
Purchasing power parity for developing and developed countries: what can we learn from non-stationary panel data models?
Drine, Imed; Rault, Christophe - 2008
) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 … developed and developing countries. We find that strong PPP is verified for OECD countries and weak PPP for MENA countries …. However in African, Asian, Latin American and Central and Eastern European countries, PPP does not seem relevant to …
Persistent link: https://www.econbiz.de/10010264327
Cover Image
Exchange Rates and Consumer Prices : Evidence from Brexit
Breinlich, Holger - 2020
This paper studies how the depreciation of sterling following the Brexit referendum affected consumer prices in the United Kingdom. Our identification strategy uses input-output linkages to account for heterogeneity in exposure to import costs across product groups. We show that, after the...
Persistent link: https://www.econbiz.de/10012844422
Cover Image
An Equilibrium Theory of Nominal Exchange Rates
Hagedorn, Marcus - 2021
This paper proposes an equilibrium theory of nominal exchange rates, which offers a new perspective on various issues in open economy macroeconomics. The nominal exchange rate and portfolio choices are jointly determined in equilibrium, thus providing a new approach to overcoming the...
Persistent link: https://www.econbiz.de/10013212261
Cover Image
Nonlinearities and Asymmetric Adjustment to PPP in an Exchange Rate Model with Inflation Expectations
Anderl, Christina; Caporale, Guglielmo Maria - 2021
the presence of asymmetries both in the long- and short-run. In particular, the speed of adjustment towards the PPP … PPP. Moreover, inflation expectations play an important role, with survey-based ones having a more sizable effect than …
Persistent link: https://www.econbiz.de/10013243236
Cover Image
Exchange Rate Parities and Taylor Rule Deviations
Anderl, Christina; Caporale, Guglielmo Maria - 2021
This paper investigates the PPP and UIP conditions by taking into account possible nonlinearities as well as the role … follows. First, the nonlinear specification provides much stronger evidence for the PPP and UIP conditions, the estimated … exchange rate from the PPP- and UIP-implied equilibrium …
Persistent link: https://www.econbiz.de/10013236279
Cover Image
Stock Market Linkages between the ASEAN Countries, China and the Us : A Fractional Cointegration Approach
Caporale, Guglielmo Maria - 2019
This paper examines stock market integration between the ASEAN five and the US and China, respectively, over the period from November 2002 to March 2018. The linkages between both aggregate and financial sector stock indices (both weekly and monthly) are analysed using fractional integration and...
Persistent link: https://www.econbiz.de/10012891049