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The African Continental Free Trade Agreement : welfare gains estimates from a general equilibrium model
Abrego, Lisandro E.; Amado, Maria Alejandra; Gursoy, Tunc; … - 2019
In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a...
Persistent link: https://www.econbiz.de/10012102028
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Does Government Spending Crowd in Private Consumption? : Theory and Empirical Evidence for the Euro Area
Coenen, Günter - 2005
-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the …
Persistent link: https://www.econbiz.de/10014401503
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Deciding to Enter a Monetary Union : TheRole of Trade and Financial Linkages
Lama, Ruy - 2012
two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from … joining the euro. We evaluate two alternative scenarios. In the first one, we consider a reduction of trade costs that occurs …
Persistent link: https://www.econbiz.de/10014395626
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Exchange Rate Pass-Through in the Euro Area : The Role of Asymmetric Pricing Behavior
Faruqee, Hamid - 2004
Exchange rate pass-through in a set of euro area prices along the pricing chain is examined. Using a vector … autoregression (VAR) approach, the empirics analyze the joint time-series behavior of the euro exchange rate and a system of euro … pass-through in the euro area. Area-wide prices are found to display incomplete pass-through, consistent with euro currency …
Persistent link: https://www.econbiz.de/10014404137
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Comfort in floating : taking stock of twenty years of freely-floating exchange rate in Chile
Albagli, Elías; Calani, Mauricio; Hadzi-Vaskov, Metodij; … - 2020
Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile's...
Persistent link: https://www.econbiz.de/10012252010
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Exchange Rate Pass-Through and Dynamic Oligopoly : An Empirical Investigation
Gross, Dominique M. - 1999
This paper explicitly takes into account the dynamic oligopolistic rivalry among source producers to evaluate the degree of exchange rate pass-through. Using recent time-series techniques for the case of imported automobiles in Switzerland, the results show that prices are strategic complements...
Persistent link: https://www.econbiz.de/10014400174
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Exchange Rates and Wages in an Integrated World
Spilimbergo, Antonio - 2009
We analyze how the pass-through from exchange rate to domestic wages depends on the degree of integration between domestic and foreign labor markets. Using data from 66 countries over the period 1981–2005, we find that the elasticity of domestic wages to real exchange rate is 0.1 after a year...
Persistent link: https://www.econbiz.de/10014403912
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Inflation and Monetary Pass-Through in Guinea
Blavy, Rodolphe - 2004
The paper analyzes the dynamics of inflation in Guinea during 1992-2003 applying cointegration and error-correction modeling to a bivariate model that includes consumer price and monetary variables. The empirical results, based on quarterly data, confirm the existence of a long-run relationship...
Persistent link: https://www.econbiz.de/10014404149
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New Keynesian Exchange Rate Pass-Through
Cook, David - 2008
Using the theory of optimal local currency pricing, this paper constructs a structural equation to estimate the rate at …
Persistent link: https://www.econbiz.de/10014401631
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The Role of Domestic and Foreign Investors in a Simple Model of Speculative Attacks
Diks, Cees G. H. - 2005
We introduce local and foreign investors in a simple model of speculative attacks. Local investors have less tolerance for overvaluation of the fixed exchange rate because they tend to incur lower costs when taking a short position and possess better information, and because of moral hazard...
Persistent link: https://www.econbiz.de/10014401831