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Non-linearities in exchange rate pass-through: Evidence from smooth transition models
cheikh, Nidhaleddine Ben - In: Economics Bulletin 32 (2012) 3, pp. 2530-2545
This paper examines the presence of non-linear mechanism in the exchange rate pass-through (ERPT) to CPI inflation for …-linearities with respect to the inflation environment. We find strong evidence that pass-through respond non-linearly to inflation … level for 8 out of 12 EA countries, that is, the transmission of exchange rate is higher when inflation rate surpass some …
Persistent link: https://www.econbiz.de/10011278670
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Shock Persistence and Current Account Dynamics
Shi, Kang - In: Economics Bulletin 31 (2011) 3, pp. 2260-2271
One-sector inter-temporal models of the current account predict that a transitory shock to the terms of trade will lead to improvement in trade balance, while a persistent (or permanent) one could result in trade balance deterioration. This paper reexamines this issue in a two-sector small open...
Persistent link: https://www.econbiz.de/10009200972
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Short-Run Determinants of the USD/MYR Exchange Rate
Hsing, Yu - In: Economics Bulletin 35 (2015) 1, pp. 97-105
This paper examines short-run determinants of the U.S. dollar/Malaysian ringgit (USD/MYR) exchange rate based on a simultaneous-equation model. Applying the EGARCH model, the paper finds that the USD/MYR exchange rate is positively associated with the Malaysian real government Treasury bill...
Persistent link: https://www.econbiz.de/10011199642
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Dollar depreciations and monthly local employment in three Midwestern states: Evidence from time-series and cointegration analysis
Hegerty, Scott W - In: Economics Bulletin 35 (2015) 1, pp. 291-297
As local exports grow globally, it is important for policymakers to understand the role that exchange rates play on local employment. Using current data, this study first examines business-cycle concordance and synchronization and finds that there is relatively weak correlation between local...
Persistent link: https://www.econbiz.de/10011199650
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Monetary policy, incomplete asset markets, and welfare in a small open economy
Kitano, Shigeto; Takaku, Kenya - In: Economics Bulletin 35 (2015) 1, pp. 112-121
welfare levels under three alternative rules: a domestic inflation-based Taylor rule, a CPI inflation-based Taylor rule, and … an exchange rate peg. We show that the superiority of an exchange rate peg over a domestic inflation-based Taylor rule …
Persistent link: https://www.econbiz.de/10011199659
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Effects of Exchange Rate Volatility on Exports: Evidence from India
Panda, Sidheswar; Mohanty, Ranjan Kumar - In: Economics Bulletin 35 (2015) 1, pp. 305-312
This study empirically examines the effects of real exchange rate volatility on India's exports using time series data for the period from 1970-71 to 2011-12. This study uses a simple rolling standard deviation as a measure of exchange rate volatility and implements the Johansen cointegration...
Persistent link: https://www.econbiz.de/10011199670
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International Capital Mobility and Saving-Investment Relationship in India
Behera, Smruti Ranjan - In: Economics Bulletin 35 (2015) 1, pp. 430-440
This paper examines the Saving-Investment (S-I) relationship and the extent of capital mobility in India during the period 1970-2010. We find that S-I are cointegrated, but the error correction model exhibits structural instability on the onset of balance of payment crisis in the 1990s and...
Persistent link: https://www.econbiz.de/10011199679
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An empirical investigation of purchasing power parity for a transition economy - Cambodia
Liew, Venus Khim-Sen; Tang, Tuck Cheong - In: Economics Bulletin 30 (2010) 2, pp. 1025-1031
This study has found an empirical support of Purchasing Power Parity (PPP) theory for an East Asia transition economy – Cambodia. It is based on the results of cointegration among KHR/USD, Cambodia CPI, and world CPI over the monthly period May 2001-February 2009. This finding is useful...
Persistent link: https://www.econbiz.de/10008621798
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Time varying regional integration in emerging stock market
Guesmi, Khaled - In: Economics Bulletin 31 (2011) 2, pp. 1082-1094
Abstract This paper studies the regional stock market integration process. First, we estimate the time-varying world market risk price and the price of currency risk using an international CAPM with segmentation effects. Second, we study the time varying integration with Markov Switching Model....
Persistent link: https://www.econbiz.de/10008917782
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Wealth effects and cross-country co-movement of labor
Nguyen, Quoc hung - In: Economics Bulletin 31 (2011) 2, pp. 1362-1371
This paper quantitatively shows that the wealth effect on leisure plays a determining role in generating negative co-movement of employment across countries. Hence, even without restrictions on international capital mobility, a positive cross-country correlation of labor can be obtained by...
Persistent link: https://www.econbiz.de/10009020015