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Reconsidering the price-income relationship across countries

Fujii, Eiji - 2013 - This version: February 2013

positive price-income association is attributable, at least partly, to the Balassa-Samuelson productivity differential effect …

Persistent link: https://www.econbiz.de/10009707555

The real exchange rate in the long run : Balassa-Samuelson effects reconsidered

Bordo, Michael D.; Choudhri, Ehsan U.; Fazio, Giorgio; … - 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 … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

Persistent link: https://www.econbiz.de/10010374513

Real exchange rates in small open OECD and transition economies : comparing apples with oranges?

Égert, Balázs (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003496465

China, Hong Kong, and Taiwan : a quantitative assessment of real and financial integration

Cheung, Yin-Wong; Chinn, Menzie David; Fujii, Eiji - 2003

The status of real and financial integration of China, Hong Kong, and Taiwan is investigated using monthly data on one-month interbank rates, exchange rates, and prices. Specifically, the degree of integration is assessed based on the empirical validity of real interest parity, uncovered...

Persistent link: https://www.econbiz.de/10011514149

PPP and the Balassa Samuelson effect : the role of the distribution sector

MacDonald, Ronald; Ricci, Luca Antonio - 2001

result is that an increase in the productivity and competitiveness of the distribution sector with respect to foreign … countries leads to an appreciation of the real exchange rate, similarly to what a relative increase in the domestic productivity …

Persistent link: https://www.econbiz.de/10011398102

Optimal debt and equilibrium exchange rates in a stochastic environment : an overview

Stein, Jerome (contributor) - 2004

The focus is upon equilibrium real exchange rates, optimal external debt and their interaction, in a world where both the return on investment and the real rate of interest are stochastic variables. These theoretically based measures are applied empirically to answer the following questions:...

Persistent link: https://www.econbiz.de/10002524134

Nominal exchange rate flexibility and real exchange rate adjustment : evidence from dual exchange rates in developing countries

Cheung, Yin-Wong (contributor); Lai, Kon S. (contributor) - 2005

This study investigates whether exchange rate flexibility aids real exchange rate adjustment based on intra-period data on dual exchange rates from developing countries. Specifically, it analyzes whether the flexible parallel market rate produces faster or slower real exchange rate adjustment...

Persistent link: https://www.econbiz.de/10003113305

The transition economies : a NATREX evaluation of research

Stein, Jerome L. (contributor) - 2005

This paper applies the NATREX model of equilibrium exchange rates to evaluate several key studies of the Central and Eastern European Countries (CEEC) in general, with particular emphasis upon the Czech Republic and Hungary and with references to Poland and Bulgaria. On the basis of the NATREX...

Persistent link: https://www.econbiz.de/10002757464

Structural change in OECD comparative advantage

Brakman, Steven; Inklaar, Robert; Marrewijk, Charles van - 2010

In the post-war period, the goods composition of trade in OECD countries has changed considerably. We analyze the evolution of comparative advantage using a detailed trade data set and a new analytical tool: the harmonic (weighted) mass index, which enables us to identify periods of structural...

Persistent link: https://www.econbiz.de/10003966455

Active currency investing and performance benchmarks

Melvin, Michael; Shand, Duncan - 2010

There are no established benchmarks for evaluating currency investment manager performance. Some analysts have suggested that known investing styles like momentum, purchasing power parity, and carry serve as benchmarks. Challenges for this approach include: there is no market portfolio; there...

Persistent link: https://www.econbiz.de/10003967792