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An Exploration of the International Comparison Program's New Global Economic Landscape

Ravallion, Martin - 2014

inflation rates account for a share of the PPP changes, although less so for the 2011 revisions than prior ICP rounds. A marked …

Persistent link: https://www.econbiz.de/10013050153

Fixed Exchange Rates, Inflation and Macroeconomic Discipline

Edwards, Sebastian; Losada, Fernando J. - 2021

inflation rate differentials between those countries and the United States. We found that the fixed parities regime worked … exchange rate system was not sufficient to avoid inflation outbursts and balance of payments crises. Specifically, it was …

Persistent link: https://www.econbiz.de/10013211655

Exchange Rates and Local Labor Markets

Goldberg, Linda S.; Tracy, Joseph S. - 2000

We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...

Persistent link: https://www.econbiz.de/10014193865

Real Exchange Rates and Productivity Growth in the United States and Japan

Marston, Richard C. - 2004

Real exchange rates between the yen and dollar based on general price indexes overestimate the competitiveness of the United States relative to Japan. High productivity growth in the traded sector of the Japanese economy results in a continuous fall in the prices of traded goods relative to...

Persistent link: https://www.econbiz.de/10014157561

Investment, Pass-Through and Exchange Rates : A Cross-Country Comparison

Campa, José Manuel; Goldberg, Linda S. - 2022

Although large changes in real exchange rates have occurred during the past decades, the real implications of these movements remain an empirical question. Using detailed data from the United States, Canada, the United Kingdom, and Japan we examine the implications of exchange rates for time...

Persistent link: https://www.econbiz.de/10014158798

Monetary Policy and the Predictability of Nominal Exchange Rates

Eichenbaum, Martin S. - 2017

inflation rates in shaping the response of real exchange rates to shocks. We document two facts about inflation … rate is a poor predictor of future inflation rates. We estimate a medium-size DSGE open-economy model that accounts … that accounts for the dynamics of exchange rates and their covariance with inflation are disturbances to the foreign demand …

Persistent link: https://www.econbiz.de/10012963169

Equilibrium Exchange Rate Hedging

Black, Fischer - 2021

In a one-period model where each investor consumes a single good, and where borrowing and lending are private and real, there is a universal constant that tells how much each investor hedges his foreign investments. The constant depends only on average risk tolerance across investors. The same...

Persistent link: https://www.econbiz.de/10013218727

Anticipated Protectionist Policies, Real Exchange Rates and the Current Account

Edwards, Sebastian; Ostry, Jonathan D. - 2021

In this paper a general equilibrium intertemporal model, with optimizing consumers and producers, is developed to analyze how the anticipation of future import tariffs affects real exchange rates and the current account. The model is completely real, and considers a small open economy that...

Persistent link: https://www.econbiz.de/10013218825

Two Notes on Exchange Rate Rules and on the Real Value of External Debt

Dornbusch, Rudiger - 2021

This report presents two unrelated, short papers on exchange rate rules and on the real value of the external debt. The paper on exchange rate policy uses the Taylor model of overlapping, long term wage contracts to ask whether accommodating or PPP oriented exchange rate policies tend to...

Persistent link: https://www.econbiz.de/10013218828

An International Comparison of Employment Adjustment to Exchange Rate Fluctuations

Burgess, Simon M.; Knetter, Michael M. - 2021

This paper evaluates the response of employment to exchange rate shocks at the industry level for the G-7 countries. Using a simple empirical framework that places little a priori structure on the pattern of response to shocks, we find the data are consistent with the view that employment in...

Persistent link: https://www.econbiz.de/10013220400