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The pass-through of exchange rate in the context of the European sovereign debt crisis
Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015
This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...
Persistent link: https://www.econbiz.de/10011376318
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Exchange rate volatility effects on the German labour market : a survey of recent results and extensions
Buscher, Herbert S.; Mueller, Claudia - 1999
In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different volatility measures and four country groups. In...
Persistent link: https://www.econbiz.de/10011294706
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The impacts of the dollar-renminbi exchange rate misalignment on the China-United States commodity trade : an asymmetric analysis
Ferjani, Sabrine; Saafi, Sami; Nouira, Ridha; Rault, … - 2022
Contrary to most existing studies of the literature that assumed that the effects of real exchange rate (RE) misalignment on trade flows are symmetric, this paper considers a more general and realistic framework allowing for possible asymmetric effects. We use monthly time-series data over the...
Persistent link: https://www.econbiz.de/10013187157
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Are entrepreneurs aware of covered interest parity and dollar shortage?
Nariman, Farhad; Heshmati, Almas - 2022
The purpose of this study is demonstrating why entrepreneurs should monitor the broad dollar index. This paper explains the reason why the broad dollar index has become a risk (leverage) gauge since 2008 using the Covered Interest Parity (CIP). CIP can be viewed as a reflection of the shadow...
Persistent link: https://www.econbiz.de/10013173246
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The yen exchange rate and the hollowing out of the Japanese industry
Belke, Ansgar; Volz, Ulrich - 2019
Since the demise of the Bretton Woods system, the yen has seen several episodes of strong appreciation, including in the late 1970s, after the 1985 Plaza Agreement, the early and late 1990s and after 2008. These appreciations have not only been associated with "expensive yen recessions"...
Persistent link: https://www.econbiz.de/10012099480
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Trade and worker deskilling
Costa, Rui; Dhingra, Swati; Machin, Stephen - 2019
This paper presents new evidence on international trade and worker outcomes. It examines a big world event that … occurred in any of the world's four major currencies since the collapse of Bretton Woods. Exploiting this variation, the paper … with respect to intermediate import prices to theory uncovers evidence of a production complementarity between workers and …
Persistent link: https://www.econbiz.de/10012022416
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Predictability of asset returns and the efficient market hypothesis
Pesaran, M. Hashem - 2010
This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...
Persistent link: https://www.econbiz.de/10003985756
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Modelling volatilities and conditional correlations in futures markets with a multivariate t distribution
Pesaran, Bahram (contributor);  … - 2007
This paper considers a multivariate t version of the Gaussian dynamic conditional correlation (DCC) model proposed by Engle (2002), and suggests the use of devolatized returns computed as returns standardized by realized volatilities rather than by GARCH type volatility estimates. The t-DCC...
Persistent link: https://www.econbiz.de/10003586562
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Structural change and innovation as exit strategies from the middle income trap
Vivarelli, Marco - 2014
This paper is intended to provide an updated discussion on a series of issues that the relevant literature suggests to be crucial in dealing with the challenges a middle income country may encounter in its attempts to further catch-up a higher income status. In particular, the conventional...
Persistent link: https://www.econbiz.de/10010350349
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Stages of diversification in a neoclassical world
Batista, Catia; Potin, Jacques - 2013
can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher …
Persistent link: https://www.econbiz.de/10010221543