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Employing cointegration techniques, the long-run determinants of Madagascar''s real exchange rate are examined from a …
Persistent link: https://www.econbiz.de/10014404020
The random walk property of exchange rates is frequently regarded as carrying strong implications for the kinds of shocks that have driven exchange rates and the models appropriate for analyzing their behavior. This paper conducts stochastic simulations of Dornbusch’s (1976) sticky-price...
Persistent link: https://www.econbiz.de/10014398020
Data published in IMF country staff reports and International Financial Statistics (IFS) may differ for identical …
Persistent link: https://www.econbiz.de/10014401027
This paper proposes a methodology for analyzing dynamic misalignment in managed exchange rate systems that combines the estimation approach to modeling the real exchange rate with the calibration approach to generating the equilibrium real exchange rate. The methodology is applied to the Thai...
Persistent link: https://www.econbiz.de/10014399810
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear...
Persistent link: https://www.econbiz.de/10014400558
Persistent link: https://www.econbiz.de/10009488696
Over the past decade or so, Tunisia has experienced a strong economic performance while pursuing a constant real exchange rate rule (CRERR). The limitations of this rule are now beginning to emerge in the context of a more open economy, regional integration, a more market-based monetary policy,...
Persistent link: https://www.econbiz.de/10014401496
countries based on panel cointegration techniques. The results show that public and private flows are associated with a real …
Persistent link: https://www.econbiz.de/10014403440
The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest parity conditions. Results indicate that the exchange rates have responded significantly to...
Persistent link: https://www.econbiz.de/10014395699
The paper examines the experiences of nine African countries that have introduced floating exchange rate regimes in the 1980s. The various types of market arrangements are explored, focusing on the roles of market participants. After a review of exchange rate developments under the regimes, some...
Persistent link: https://www.econbiz.de/10014396080