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In which exchange rate models do forecasters trust?

Hauner, David; Yi, Chae-u; Takizawa, Hajime - 2011

Persistent link: https://www.econbiz.de/10009425653

The Equilibrium Real Exchange Rate in a Commodity Exporting Country : Algeria's Experience

Koranchelian, Taline - 2005

Drawing on the existing literature, I estimate a long-run equilibrium real exchange rate path for Algeria. I find that … rate in Algeria. The half-life of the deviation of the real exchange rate from the estimated equilibrium level is about …-varying long-run equilibrium exchange rate in Algeria as in other commodity-exporting countries; and (ii) the real effective …

Persistent link: https://www.econbiz.de/10014400622

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

Loko, Boileau - 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/10014400846

Real Exchange Rates in Developing Countries : Are Balassa-Samuelson Effects Present?

Khan, Mohsin S. - 2004

There is little empirical research on whether Balassa-Samuelson effects can explain the long-run behavior of real exchange rates in developing countries. This paper presents new evidence on this issue based on a panel data sample of 16 developing countries. The paper finds that the...

Persistent link: https://www.econbiz.de/10014401146

Real Exchange Rates in Growing Economies : How Strong is the Role of the Nontradables Sector?

Miyajima, Ken - 2005

This paper emphasizes the importance of total factor productivity (TFP) developments in the nontradables sector to quantitatively demonstrate that the time-honored Balassa-Samuelson hypothesis does not generally apply to episodes of economic growth. Though the Balassa- Samuelson hypothesis...

Persistent link: https://www.econbiz.de/10014401651

Maintaining Competitiveness Under Equilibrium Real Appreciation : The Case of Slovakia

Oomes, Nienke - 2005

This paper evaluates competitiveness in Slovakia and estimates the equilibrium real exchange rate for the koruna. Slovak wages and prices are found to have been relatively low even when adjusted for differences in relative income and productivity, suggesting an undervalued real exchange rate....

Persistent link: https://www.econbiz.de/10014401881

Interpreting Real Exchange Rate Movements in Transition Countries

International Monetary Fund - 2001

Several transition countries have experienced strong real exchange rate appreciations. This paper tests the hypothesis that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period 1993-98, the results show clear evidence of...

Persistent link: https://www.econbiz.de/10014403602

The U.S. Dollar and the Trade Deficit : What Accounts for the Late 1990's?

Hunt, Ben - 2003

Based on a version of the IMF’s new Global Economic Model (GEM), calibrated to analyze macroeconomic interdependence between the United States and the rest of the world, this paper asks to what extent an asymmetric productivity shock in the tradable sector of the economy may account for real...

Persistent link: https://www.econbiz.de/10014399692

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

Buoyant Capital Spending and Worries Over Real Appreciation : Cold Facts From Algeria

Diallo, Oumar - 2007

The Government of Algeria has pursed a relatively expansionary fiscal policy in recent years, thanks to rising oil …-mostly nontradable goods-thereby causing a higher real appreciation. This implies that Algeria should carefully consider the implications …

Persistent link: https://www.econbiz.de/10014401063

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