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The Impact of the Exchange Rate Regime on Exports: Evidence from the European Monetary System
Fountas, Stilianos; Aristotelous, Kyriacos - In: Journal of Economic Integration 20 (2005), pp. 567-589
impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) exports for eight EU … countries. We find that for Ireland the EMS boosted the volume of intra-EU exports, whereas for Belgium, Denmark, and Germany …, the EMS led to a decline in intra-EU exports. In the rest of the countries, there has not been a significant effect …
Persistent link: https://www.econbiz.de/10009391975
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Productivity and Real Exchange Rates:Some Empirical Examples
Irandoust, Manuchehr; Sjöö, Boo - In: Journal of Economic Integration 17 (2002), pp. 527-553
This paper examines the relevance of the Balassa-Samuelson productivity-bias hypothesis for explaining long-run permanent shocks in the real exchange rates. The sample consists of yearly data on real exchange rates and productivity for six OECD countries. On the basis of Johansens maximum...
Persistent link: https://www.econbiz.de/10010991780
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Exchange Rate Volatility and Tourist Flows into Turkey
Agiomirgianakis, George; Serenis, Dimitrios; Tsounis, … - In: Journal of Economic Integration 29 (2014), pp. 700-725
This paper examines the effects of Exchange Rate Volatility on tourist flows into Turkey for the period of 1994~2012. Our results show that (i) there is a negative relationship between exchange rate volatility and tourist inflows into Turkey; (ii) there is a negative impact of the relative price...
Persistent link: https://www.econbiz.de/10011094116
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Long-run and Short-run Effects of Exchange Rate Movements for Major EU Countries: Cointegration and Error- Correction Modeling
Cantavella-Jordá, Manuel; Suárez-Burguet, Celestino - In: Journal of Economic Integration 13 (1998), pp. 606-625
This paper examines the long-run and short- run effects of depreciation/ devaluation for major European Union countries (Germany, France, the Unit - ed Kingdom, and Italy) over the 1975-1997 period. The approach is based on cointegration techniques proposed by Johansen [1988] and uses quarterly...
Persistent link: https://www.econbiz.de/10010991735
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The Monetary Exchange Rate Model: Long-run, Short-run, and Forecasting Performance
Zhang, Shidong; Lowinger, Thomas C. - In: Journal of Economic Integration 22 (2007), pp. 397-406
This paper examines the monetary model of exchange rate determination for the US dollar exchange rates against the currencies of Canada, Japan, and the United Kingdom. In this paper, we utilize the cointegration technique for testing long-run relationship, and vector error correction model for...
Persistent link: https://www.econbiz.de/10009392017
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Partial Credibility, Information Selection and the Signalling Channel of Sterilized Interventions
Fabian Reeves, Silke - In: Journal of Economic Integration 13 (1998), pp. 108-130
The signalling channel suggests that central banks use sterilized interven - tions in the foreign exchange market to convey information about future mone - tary policy to the market. To date, this theory is not sufficiently supported by theoretical work that establishes the link between...
Persistent link: https://www.econbiz.de/10010840673
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Do Fixed Exchange Rates Cause Greater Integration?
Hosny, Amr Sadek - In: Journal of Economic Integration 28 (2013), pp. 533-550
A classic argument in favor of a fixed exchange rate regime (ERR) has been the promotion of international trade between the pegging country and its base country. Results from previous literature point to a significant and highly positive effect of adopting a fixed ERR on bilateral trade between...
Persistent link: https://www.econbiz.de/10010840810
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Foreign Capital Inflows and the Current Account Imbalance: Which Causality Direction?
Yan, Ho-don; Yang, Cheng-lang - In: Journal of Economic Integration 23 (2008), pp. 434-461
The ongoing financial globalization has instigated growing concerns on the issue of benefits and costs from free international capital mobility. Past experiences in the emerging market countries indicate that foreign capital inflows could cause persistent current account deficits and lead to...
Persistent link: https://www.econbiz.de/10009415624
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Empirical Analysis of the Psychological Hypothesis on Exchange Rate Determination and Testing Its Forecastability: The Korean Experience
Rhee, Hyun-Jae - In: Journal of Economic Integration 17 (2002), pp. 449-473
The role of psychological impact is examined by investigating the determination of exchange rates, especially the U.S. Dollar. It has been applied to the Korean economic crisis which occurred between January 1997 and June 1999. The basic idea is that psychological information can be used in...
Persistent link: https://www.econbiz.de/10010840790
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Testing for “Contagion” of the Subprime Crisis on the Middle East and North African Stock Markets: A Markov Switching EGARCH Approach
Khallouli, Wajih; Sandretto, René - In: Journal of Economic Integration 27 (2012), pp. 134-166
In this paper, we investigate whether the recent financial turmoil which arose in the United States has contaminated the Middle East and North African countries (MENA). In contrast to Lagoard-Segot and Lucey (2009), we try to identify the existence of pure contagion (Masson, 1999) rather than...
Persistent link: https://www.econbiz.de/10010991781