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Neary, J. Peter - International Monetary Fund (IMF) - 2006

This paper reviews alternative approaches to measuring an economy's cost competitiveness and proposes some new measures …

Persistent link: https://www.econbiz.de/10005264123

Trade and Financial Contagion in Currency Crises

Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000

This paper investigates empirically the relevance of external, domestic, and financial weaknesses as well as trade and financial linkages in inducing financial crises for a sample of 61 emerging market and industrial countries. A panel probit estimation finds these economic indicators to be...

Persistent link: https://www.econbiz.de/10005769104

Discriminating Contagion; An Alternative Explanation of Contagious Currency Crises in Emerging Markets

Ahluwalia, Pavan - International Monetary Fund (IMF) - 1999

This paper shows that a country’s vulnerability to contagious crises depends on the visible similarities between that country and other countries that are experiencing crises. A country is vulnerable to shifts in investor sentiment if it exhibits weaknesses in the same economic variables as...

Persistent link: https://www.econbiz.de/10005599208

Purchasing Power Parity and New Trade Theory

Ricci, Luca Antonio; MacDonald, Ronald - International Monetary Fund (IMF) - 2002

importance of competitiveness, for which we construct an original proxy. Using a panel dynamic OLS estimation of nine bilateral … US dollar real exchange rates, we derive long-run coefficients for relative productivity and competitiveness in the … competitiveness is statistically significant in explaining deviations from PPP. …

Persistent link: https://www.econbiz.de/10005605250

Assessing Competitiveness Using Industry Unit Labor Costs; An Application to Slovakia

International Monetary Fund (IMF); International … - 2012

Conceptual ambiguities and statistical weaknesses hamper the assessment of external competitiveness. The term … competitiveness, while applied extensively, is often imprecisely defined, which can result in analytical errors and mistaken policy … advice. Furthermore, aggregate statistical measures of competitiveness in terms of exchange rate misalignment can be biased …

Persistent link: https://www.econbiz.de/10011242314

Measuring Competitiveness.

Neary, J. Peter - 2006

Intro -- Contents -- I. INTRODUCTION -- II. MEASURING THE COST OF LIVING -- III. TRUE REAL EFFECTIVE EXCHANGE RATES -- IV. AN APPLICATION: THE IRISH ECONOMY'S EXPOSURE TO STERLING -- V. CONCLUSION -- Appendix -- References.

Persistent link: https://www.econbiz.de/10012691043

Fiscal policy and the real exchange rate

Chatterjee, Santanu; Mursagulov, Azer - 2012

Government spending on infrastructure has recently increased sharply in many emerging-market economies. This paper examines the mechanism through which public infrastructure spending affects the dynamics of the real exchange rate. Using a two-sector dependent open economy model with...

Persistent link: https://www.econbiz.de/10009572527

Czech Koruna and Polish Zloty Currency Options; Information Contnent and Eu-Accession Implications

Morales, Armando Méndez - International Monetary Fund (IMF) - 2000

Currency option implied volatility predicts more efficiently exchange rate volatility for the Polish zloty relative to the Czech koruna, reflecting differences in the frequency of central bank intervention in the foreign exchange market. A GARCH model shows a positive impact of the introduction...

Persistent link: https://www.econbiz.de/10005248136

PPP Strikes Back; Aggregation and the Real Exchange Rate

Mumtaz, Haroon; Imbs, Jean; Ravn, Morten O.; Rey, Helene - International Monetary Fund (IMF) - 2003

We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When...

Persistent link: https://www.econbiz.de/10005248142

Labor Productivity and Real Exchange Rate; The Balassa-Samuelson Disconnect in the Former Yugoslav Republic of Macedonia

Loko, Boileau; Tuladhar, Anita - International Monetary Fund (IMF) - 2005

This paper seeks to investigate the transmission mechanisms linking productivity to the real exchange rate in the former Yugoslav Republic of Macedonia. At first glance, the stylized facts-low labor productivity growth and a trend real depreciation-suggest that a Balassa- Samuelson effect is in...

Persistent link: https://www.econbiz.de/10005248176

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