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Long-Run Purchasing Power Parity and the Dollar-Sterling Exchange Rate in the 1920's

Taylor, Mark P. - 1990

This paper replies to Ahking’s (1990) re-examination of Taylor and McMahon’s (1988) analysis of long-run purchasing power parity in the 1920s. We demonstrate that Ahking’s conclusions are only partially correct and reestablish our conclusion that, a form of long-run purchasing-power parity...

Persistent link: https://www.econbiz.de/10014395859

The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies

Stein, Jerome L. - 1995

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Persistent link: https://www.econbiz.de/10014395946

Euro-Dollar Real Exchange Rate Dynamics in an Estimated Two-Country Model : What is Important and What is Not

Tuesta R., Vicente - 2006

We use a Bayesian approach to estimate a standard two-country New Open Economy Macroeconomics model using data for the United States and the euro area, and we perform model comparisons to study the importance of departing from the law of one price and complete markets assumptions. Our results...

Persistent link: https://www.econbiz.de/10014399887

Predictable Movements in Yen/DM Exchange Rates

Kongsamut, Qingying - 2000

This paper examines the relevance of PPP, the adjustment channel of real exchange rate and the predictability of the movement in nominal exchange rate by studying the behavior of yen/DM exchange rate, using cointegration method. Results support PPP and find that the real exchange rate is...

Persistent link: https://www.econbiz.de/10014399967

Exchange Rates and Economic Fundamentals : A Methodological Comparison of Beers and Feers

MacDonald, Ronald - 1998

This paper compares two approaches for examining the extent to which a country’s actual real effective exchange rate is consistent with economic fundamentals: the FEER approach, which involves calculating the real exchange rate that equates the current account at full employment with...

Persistent link: https://www.econbiz.de/10014400711

What Determines Real Exchange Rates? : The Long and Short of it

MacDonald, Ronald - 1997

This paper presents a reduced-form model of the real exchange rate. Using multilateral cointegration methods, the model is implemented for the real effective exchange rates of the dollar, the mark, and the yen, over the period 1974-1993. In contrast to much other research using real exchange...

Persistent link: https://www.econbiz.de/10014403366

Filtering the Beer : A Permanent and Transitory Decomposition

Clark, Peter B. - 2000

In this paper we extend the BEER (Behavioral Equilibrium Exchange Rate) approach which identifies an estimated equilibrium relationship between the real exchange rate and economic fundamentals. Here the economic fundamentals are decomposed using Johansen cointegration methods into transitory and...

Persistent link: https://www.econbiz.de/10014403514

Demand for value added and value-added exchange rates

Bems, Rudolfs; Johnson, Robert C. - 2015

We examine the role of cross-border input linkages in governing how international relative price changes influence demand for domestic value added. We define a novel value-added real effective exchange rate (REER), which aggregates bilateral value-added price changes, and link this REER to...

Persistent link: https://www.econbiz.de/10011373959

Yen Bloc or Yuan Bloc : An Analysis of Currency Arrangements in East Asia

Shirono, Kazuko - 2009

This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of … growing interest in forming a currency union in the region. The analysis suggests that currency unions with China tend to … if China''s relative presence continues to rise in the regional trade …

Persistent link: https://www.econbiz.de/10014404286

The Real Exchange Rate and Employment in China

Dao, Mai - 2011

We examine the impact of real exchange rate fluctuations on sectoral and regional employment in China from 1980 to 2008 … with employment data at the region-sector level. The results of this paper have important implications for China''s labor …

Persistent link: https://www.econbiz.de/10014399230