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Deviations of Exchange Rates From Purchasing Power Parity : A Story Featuring Two Monetary Unions

MacDonald, Ronald - 1998

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

Real Exchange Rate Volatility : Does the Nominal Exchange Rate Regime Matter?

Liang, Hong - 1998

evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an …

Persistent link: https://www.econbiz.de/10014400664

Sustainable Real Exchange Rates in the New Eu Member States : What Did the Great Recession Change?

Smídková, Katerina - 2010

The Great Recession affected export and import patterns in our sample countries, and these changes, coupled with a more volatile external environment, have profound impact on our estimates of real exchange rate misalignments and projections of sustainable real exchange rates. We find that real...

Persistent link: https://www.econbiz.de/10014398417

Comparative Advantage, Exchange Rates, and G-7 Sectoral Trade Balances

Golub, Stephen S. - 1994

This paper uses a Ricardian framework to clarify the role of microeconomic and macroeconomic factors governing the time series and cross-section behavior of sectoral trade balances. Unit labor costs and trade balances are calculated for several sectors for the seven major industrial countries....

Persistent link: https://www.econbiz.de/10014398683

How Robust Are Estimates of Equilibrium Real Exchange Rates : The Case of China

Leigh, Lamin - 2006

definitions, and time periods used in estimation can lead to very substantial differences in equilibrium real exchange rate …

Persistent link: https://www.econbiz.de/10014400514

Exchange Rates in the New EU Accession Countries : What Have We Learned from the Forerunners?

Smídková, Katerina - 2005

Estimation and simulation of sustainable real exchange rates in some of the new EU accession countries point to …

Persistent link: https://www.econbiz.de/10014400630

Estimation of a Behavioral Equilibrium Exchange Rate Model for Ghana

Loukoianova, Elena - 2007

The paper estimates a behavioral equilibrium exchange rate model for Ghana. Regression results show that most of the REER''s long-run behavior can be explained by real GDP growth, real interest rate differentials (both relative to trading-partner countries), and the real world prices of Ghana''s...

Persistent link: https://www.econbiz.de/10014401262

Estimating Equilibrium Exchange Rates for Armenia and Georgia

Ding, Shuang - 2008

The significant real exchange rate appreciation in Armenia and Georgia since 2003, coupled with persistent current account deficits, raises the question of whether real exchange rates have become overvalued. This paper seeks to identify possible exchange rate misalignment by applying the...

Persistent link: https://www.econbiz.de/10014401472

Exchange Rate Misalignment : An Application of the Behavioral Equilibrium Exchange Rate (Beer) to Botswana

Iimi, Atsushi - 2006

Botswana''s successive currency devaluations and recent move from a fixed to a crawling peg exchange rate regime raise the question of whether the exchange rate might be misaligned with economic fundamentals. This paper, applying the behavioral equilibrium exchange rate (BEER) approach, analyzes...

Persistent link: https://www.econbiz.de/10014402030

Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …

Persistent link: https://www.econbiz.de/10014399797

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