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Corporate investment and the real exchange rate
Dao, Mai; Minoiu, Camelia; Ostry, Jonathan David - 2017
that depreciations boost profits, investment, and sales of firms that are more financially-constrained and have higher … reducing real wages, thereby spurring investment. We show that these effects on firm performance are enduring, including in the …
Persistent link: https://www.econbiz.de/10011799685
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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 … well as some advanced economies with a low degree of structural economic complexity, corporate investment increases when …
Persistent link: https://www.econbiz.de/10011852645
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Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation
International Monetary Fund - 1988
results from the requirement that non-traded inputs are used in the investment process. In the short-run, though, the effects … changes in the world interest rate …
Persistent link: https://www.econbiz.de/10014396304
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Transactions Costs and Vehicle Currencies
International Monetary Fund - 1989
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/10014396025
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International R and D Spillovers and Institutions
Hoffmaister, Alexander W. - 2008
The empirical analysis in ""International R&D Spillovers"" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
Persistent link: https://www.econbiz.de/10014400689
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Dread of Depreciation : Measuring Real Exchange Rate Interventions
Dutta, Jayasri - 2002
We specify an empirical framework to detect the effects of official intervention on real exchange rate dynamics. Using data for 27 advanced and emerging market economies, we find evidence that interventions are a near-universal practice; almost all countries intervene when real exchange rates...
Persistent link: https://www.econbiz.de/10014401310
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Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations
Meza, Felipe - 2010
We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in...
Persistent link: https://www.econbiz.de/10014402822
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Long-Run Exchange Rate Dynamics : A Panel Data Study
Habermeier, Karl Friedrich - 1999
Long-run movements of real exchange rates are studied using a panel data set comprising 51 economies. The purchasing power parity hypothesis (PPP) is examined first using unit root tests. It is found that PPP does not hold for the full sample of countries, but it may hold for the advanced...
Persistent link: https://www.econbiz.de/10014403431
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Real and Nominal Exchange Rates in the Long Run
Adams, Charles - 1991
This paper decomposes longer-run movements in (major) dollar real exchange rates into components associated with changes in nominal exchange rates and price levels, and their comovements. Though the decompositions suggest some permanent movements, they imply that there are large transitory...
Persistent link: https://www.econbiz.de/10014398349
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Real Exchange Rates and Commodity Prices
Dupont, Dominique Yves - 1996
multi-country model, with world market clearing, which incorporates speculative and non-speculative demands for inventories … matters, and that supply and demand elasticities are important in determining the commodity price in world markets above and … beyond the size of the share of those commodities in world trade …
Persistent link: https://www.econbiz.de/10014398636