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On the Unstable Relationship between Exchange Rates and Macroeconomic Fundamentals

Bacchetta, Philippe - 2009

It is well known from anecdotal, survey and econometric evidence that the relationship between the exchange rate and macro fundamentals is highly unstable. This could be explained when structural parameters are known and very volatile, neither of which seems plausible. Instead we argue that...

Persistent link: https://www.econbiz.de/10013156606

Well-Being in the Small and in the Large

Rose, Andrew Kenan - 2007

Is it better to live in a big county than a small country? In this paper I examine whether economic and social conditions vary systematically with the population of a country. Economics provides a number of theoretical reasons why country size should matter, for instance because of increasing...

Persistent link: https://www.econbiz.de/10012729372

A Macro-Finance Approach to Exchange Rate Determination

Chen, Yu-Chin - 2011

the cross-country yield curves. Using monthly data between 1985 and 2005 for Canada, Japan, the UK and the US, we employ a …

Persistent link: https://www.econbiz.de/10013131033

What Does the Yield Curve Tell Us About Exchange Rate Predictability?

Chen, Yu-Chin - 2010

Kingdom, Canada, Japan and the US, we show that the yield curve factors predict bilateral exchange rate movements and excess …

Persistent link: https://www.econbiz.de/10013134797

The RMB Debate : Empirical Analysis on the Effects of Exchange Rate Shocks in China and Japan

Kim, Soyoung - 2012

shocks on output and the current account for China and Japan. We use structural vector auto-regression models and find that … yen appreciation reduces current account surpluses while having no strong effect on output in Japan. RMB appreciation, on …

Persistent link: https://www.econbiz.de/10013105952

Transmitting Global Liquidity to East Asia : Policy Rates, Bond Yields, Currencies and Dollar Credit

He, Dong - 2013

We review extant work on the transmission of monetary policy, both conventional and unconventional, of the major advanced economies to East Asia through monetary policy reactions, integrated bond markets and induced currency appreciation. We present new results on the growth of foreign currency...

Persistent link: https://www.econbiz.de/10013073792

Asynchronous Monetary Policies and International Dollar Credit

He, Dong - 2015

effect of UMPs in Japan and the euro-area. However, a stress testing exercise shows that global liquidity would be seriously …

Persistent link: https://www.econbiz.de/10013014581

Growth and the Real Exchange Rate - Evidence from Eleven Countries

Crosby, Mark - 2008

There are conflicting theories about the effect of real exchange rate movements on output growth. Expenditure switching models suggest that a real depreciation leads to an increase in net exports due to the increase in competitiveness of the export sector, and hence to an increase in output...

Persistent link: https://www.econbiz.de/10012726343

The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Liquidity Trap

McKinnon, Ronald - 2007

Japan's macroeconomic problem has yet to be properly diagnosed. Throughout the 1990s, policy makers could not decide on … deep historical roots, of why aggregate private demand failed to recover after Japan's stock and real estate bubbles burst … in 1991 and deflationary pressure continues.The problem is not purely quot;made in Japanquot;. It arises from Japan …

Persistent link: https://www.econbiz.de/10012729261

Synchronized Business Cycles in East Asia and Fluctuations in the Yen/Dollar Exchange Rate

McKinnon, Ronald - 2007

peg to the dollar. Since 1980, economic integration among Japan's neighbors - China, Hong Kong, Indonesia, Korea, Malaysia … in other East Asian economies and that it is not a sensible policy option for Japan …

Persistent link: https://www.econbiz.de/10012729281