Similar Search Results

Exchange Rates in Emerging Economies : What Do We Know? What Do We Need to Know?

Edwards, Sebastian; Savastano, Miguel A. - 2021

flexible exchange rates, the relationship between exchange rate volatility and growth, and the role of exchange rate …

Persistent link: https://www.econbiz.de/10013235601

Obstfeld and Rogoff's International Macro Puzzles : A Quantitative Assessment

Eaton, Jonathan - 2015

a counterfactual world without trade frictions in manufactures. Removing these trade frictions goes a long way toward …

Persistent link: https://www.econbiz.de/10013010717

Stuck on Gold : Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard

Chernyshoff, Natalia - 2010

Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics … absorption in a world of real shocks and nominal stickiness. A simple model shows how a lack of flexibility can be discerned in … the transmission of terms of trade shocks. Evidence on the relationship between real exchange rate volatility and terms of …

Persistent link: https://www.econbiz.de/10012761895

Real Exchange Rate Movements and the Relative Price of Non-Traded Goods

Betts, Caroline M. - 2009

We study the quarterly bilateral real exchange rate and the relative price of non-traded to traded goods for 1225 country pairs over 1980-2005. We show that the two variables are positively correlated, but that movements in the relative price measure are smaller than those in the real exchange...

Persistent link: https://www.econbiz.de/10012765991

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

Inflation Targeting and Real Exchange Rates in Emerging Markets

Aizenman, Joshua - 2010

We investigate inflation targeting (IT) in emerging markets, focusing on the role of the real exchange rate and the distinction between commodity and non-commodity exporters. IT emerging markets appear to follow a quot;mixed strategyquot; whereby both inflation and real exchange rates are...

Persistent link: https://www.econbiz.de/10012758026

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

Causes of Appreciation and Volatility of the Dollar with Comment by Jacob Frenkel

Branson, William H.; Frenkel, Jacob A. - 2021

In 1981 real interest rates in the United States increased spectacularly, and the dollar appreciated in real terms by about 20 percent. Since the end of 1981, long-term real interest rates have remained in the range of 5-10 percent, with nominal long rates above short rates. The dollar...

Persistent link: https://www.econbiz.de/10013228754

Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect

Devereux, Michael B.; Engel, Charles - 2021

This paper explores the hypothesis that high volatility of real and nominal exchange rates may be due to the fact that … necessary to construct such an explanation for exchange rate volatility. In addition to the presence of local currency pricing … parity. Together, it is shown that these elements can produce exchange rate volatility that is much higher than shocks to …

Persistent link: https://www.econbiz.de/10013239949

Expenditure Switching vs. Real Exchange Rate Stabilization : Competing Objectives for Exchange Rate Policy

Devereux, Michael B. - 2009

exchange rate so as to facilitate terms of trade adjustment. We show that optimal nominal exchange rate volatility will reflect … bias in production. Quantitatively, we find the optimal exchange rate volatility should be significantly less than would be … optimal exchange rate volatility may be non-monotonic …

Persistent link: https://www.econbiz.de/10012767336