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We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on economic activity and welfare. In the first part of the paper, the GARCH-SVARmodel is applied to measure empirically the effect of the conditional exogenous exchange rate...
Persistent link: https://www.econbiz.de/10011604374
This study examines the marginal effects of traditional determinants of exports and imports with a focus on the role of … harmonised competitiveness indicators (HCIs) on both exports and imports of both goods and services across individual euro area … exceptions) on exports of goods. Exports of services are sensitive to HCIs in big euro area countries and Slovakia, where exports …
Persistent link: https://www.econbiz.de/10013047096
driver of trade flows outside the euro area as compared to those within the monetary union, especially for exports, that tend … costs appear to contain relatively more information for trade flows, particularly for exports outside the euro area.The key …
Persistent link: https://www.econbiz.de/10012984573
is one indicator consistently outperforming the other in terms of explaining and forecasting euro area exports. This …
Persistent link: https://www.econbiz.de/10011604879
This study examines the marginal effects of traditional determinants of exports and imports with a focus on the role of … harmonised competitiveness indicators (HCIs) on both exports and imports of both goods and services across individual euro area … exceptions) on exports of goods. Exports of services are sensitive to HCIs in big euro area countries and Slovakia, where exports …
Persistent link: https://www.econbiz.de/10011605781
The elasticity of exports to exchange rate fluctuations has been the subject of a large literature without a clear … estimates. In addition, exports appear to be sensitive to appreciation episodes, but rather unaffected by depreciations. Finally …
Persistent link: https://www.econbiz.de/10011605846
. Drawing on a new granular dataset on extra-European Union exports of Portuguese firms broken down by currency, we show that …
Persistent link: https://www.econbiz.de/10014543670
Dominant currency pricing (DCP) weakens the demand-side effects of exchange rate changes on exports (Gopinath et al … significant increase in average exports per firm (the intensive margin), while the aggregate export response is mainly driven by …
Persistent link: https://www.econbiz.de/10012605276
The elasticity of exports to exchange rate fluctuations has been the subject of a large literature without a clear … estimates. In addition, exports appear to be sensitive to appreciation episodes, but rather unaffected by depreciations. Finally …
Persistent link: https://www.econbiz.de/10013020655
This paper shows that there are two regularities in foreign exchange markets in advanced countries with flexible regimes. First, real exchange rates are mean-reverting, as implied by the Purchasing Power Parity model. Second, the adjustment takes place via nominal exchange rates. These features...
Persistent link: https://www.econbiz.de/10011916855