Narrow search
Showing 1 - 10 of 1,001
Cover Image
The Impact of Market Regulations on Intra-European Real Exchange Rates
Bénassy-Quéré, Agnès - 2013
and employment protection tend to inflate the real exchange rate. We then carry out an econometric estimation for European …
Persistent link: https://www.econbiz.de/10013087275
Cover Image
The Real Exchange Rate in the Long Run : Balassa-Samuelson Effects Reconsidered
Bordo, Michael D. - 2014
Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample period. Although the traditional Balassa-Samuelson...
Persistent link: https://www.econbiz.de/10013050476
Cover Image
A Panel Data Investigation of Real Exchange Rate Misalignment and Growth
MacDonald, Ronald - 2010
The paper investigates the role of real exchange rate misalignment on long-run growth for a set of ninety countries using time series data from 1980 to 2004. We first estimate a panel data model (using fixed and random effects) for the real exchange rate, with different model specifications, in...
Persistent link: https://www.econbiz.de/10013142797
Cover Image
Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments
Cheung, Yin-Wong; Lai, Kon S.; Bergman, U. Michael - 2021
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...
Persistent link: https://www.econbiz.de/10013319983
Cover Image
International Income Inequality : Measuring PPP Bias by Estimating Engel Curves for Food
Almås, Ingvild - 2010
estimate the purchasing power parity (PPP) bias in Penn World Table incomes and provide corrected incomes. The bias is …
Persistent link: https://www.econbiz.de/10013135914
Cover Image
Forecasting Random Walks Under Drift Instability
Pesaran, M. Hashem - 2011
This paper considers forecast averaging when the same model is used but estimation is carried out over different … estimation windows. It develops theoretical results for random walks when their drift and/or volatility are subject to one or … more structural breaks. It is shown that compared to using forecasts based on a single estimation window, averaging over …
Persistent link: https://www.econbiz.de/10012756639
Cover Image
Has Creative Destruction Become More Destructive?
Komlos, John - 2021
Schumpeter’s concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with...
Persistent link: https://www.econbiz.de/10013315579
Cover Image
Regional Inequality, Convergence, and its Determinants - A View from Outer Space
Lessmann, Christian - 2015
regional income data are available. We subsequently use our estimation results for an out-of-sample prediction of regional …
Persistent link: https://www.econbiz.de/10013023191
Cover Image
The Value of Smarter Teachers : International Evidence on Teacher Cognitive Skills and Student Performance
Hanushek, Eric A. - 2016
-effects estimation exploiting within-country between-subject variation in teacher skills. Observed country variations in teacher …
Persistent link: https://www.econbiz.de/10013005432
Cover Image
On the Conditional Effects of IMF Program Participation on Output Growth
Binder, Michael - 2013
The empirical evidence currently available in the literature regarding the effects of a country's IMF program participation on its output growth is rather mixed. To shed new evidence on this issue, in this paper we specify a state- dependent panel data model accounting in particular for program...
Persistent link: https://www.econbiz.de/10013094324