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Is the Exchange Rate a Shock Absorber? : The Case of Sweden

Thomas, Alun H. - 1997

determinants of movements in Sweden’s real exchange rate. It finds that, while (supply and demand) shocks account for over 60 … account for a higher fraction of these real shocks in Sweden than in those core countries. If real demand shocks result from … controllable macroeconomic policies, the cost of relinquishing the exchange rate is no higher, and may be lower, for Sweden than …

Persistent link: https://www.econbiz.de/10014403334

IMF applications of purchasing power parity estimates

Silver, Mick S. - 2010

Persistent link: https://www.econbiz.de/10009424398

Explaining Episodes of Growth Accelerations, Decelerations, and Collapses in Western Africa

Salinas, Gonzalo - 2008

The growth literature has had problems explaining the ""sub-Saharan African growth dummy"" in cross-country regressions. Instead of taking the usual approach of focusing on long-run growth and assuming that sub-Saharan countries have homogenous parameters in growth regressions, we concentrate...

Persistent link: https://www.econbiz.de/10014401327

Real exchange rate overshooting in large depreciations : determinants and consequences

Culiuc, Alexander - 2020

The consequences of large depreciations on economic activity depend on the relative strength of the contractionary balance sheet and expansionary expenditure switching effects. However, the two operate over different time horizons: the balance sheet effect hits almost immediately, while...

Persistent link: https://www.econbiz.de/10012251364

Real exchange rates, economic complexity, and investment

Brito, Steve; Magud, Nicolas; Sosa, Sebastián - 2018

We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming...

Persistent link: https://www.econbiz.de/10011852645

Stock Markets and Real Exchange Rate : An Intertemporal Approach

Mercereau, Benoît - 2003

The paper presents an N-country model with stock markets, in which a closed-form solution for the real exchange rate is derived. Risky asset prices and allocation of risky assets among countries are determined endogenously. Such a framework allows an analysis of how fundamental parameters, such...

Persistent link: https://www.econbiz.de/10014400145

Asymmetric Adjustment and Nonlinear Dynamics in Real Exchange Rates

Leon, H. L. - 2003

This paper examines whether deviations from PPP are stationary in the presence of nonlinearity, and whether the adjustment toward PPP is symmetric from above and below. Using alternative nonlinear models, our results support mean reversion and asymmetric adjustment dynamics. We find differences...

Persistent link: https://www.econbiz.de/10014400233

To Smooth or Not to Smooth : The Impact of Grants and Remittanceson the Equilibrium Real Exchange Rate in Jordan

Petri, Martin - 2006

This paper estimates the effect of grants and workers'' remittances on Jordan''s long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen cointegration methodology over the period 1964 to 2005. Controlling for other...

Persistent link: https://www.econbiz.de/10014400262

Measuring Competitiveness

Neary, J. Peter - 2006

measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real …

Persistent link: https://www.econbiz.de/10014400395

Co-Movements in Long-Term Interest Rates and the Role of PPP-Based Exchange Rate Expectations

Knot, Klaas - 1999

This paper investigates international co-movement in bond yields by testing for uncovered interest parity (UIP). Existing work is supplemented by focusing on long instead of short-term interest rates and by employing exchange rate expectations derived from purchasing power parity (PPP) instead...

Persistent link: https://www.econbiz.de/10014400703

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