Showing 1 - 10 of 13
Estimates of growth equations have found a role for openness, particularly in explaining rapid growth among East Asian countries. But major concerns of simultaneous causality between growth and trade have been expressed. This study aims to deal with the endogeneity of trade by using as...
Persistent link: https://www.econbiz.de/10005292394
We survey the empirical literature on floating nominal exchange rates over the past decade. Exchange rates are difficult to forecast at short- to medium-term horizons. There is a bit of explanatory power to monetary models such as the Dornbusch "overshooting" theory, in the form of reaction to...
Persistent link: https://www.econbiz.de/10005292395
Previous time-series studies have shown evidence of mean-reversion in real exchange rates. Deviations from purchasing power parity (PPP) appear to have half-lives of approximately four years. However, the long samples required for statistical significance are unavailable for most currencies, and...
Persistent link: https://www.econbiz.de/10005292399
Using the gravity model, we find evidence that the EC affects trade flows. A pair of EC members trade with each other 48 percent more than two otherwise similarly-placed countries. We also find that bilateral exchange rate variability fell by half within Europe during the 1980s, and that this...
Persistent link: https://www.econbiz.de/10005292401
Closed-end country funds trade in New York at their price. Their Net Asset Value (NAV) represent the value of the underlying assets, usually traded in each particular country. If the holders of the underlying assets have more information the about loc al assets than the country fund holders,...
Persistent link: https://www.econbiz.de/10005649535
Persistent link: https://www.econbiz.de/10005649545
Persistent link: https://www.econbiz.de/10005649548
Persistent link: https://www.econbiz.de/10005512037
Persistent link: https://www.econbiz.de/10005512039
Persistent link: https://www.econbiz.de/10005512049