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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
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Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates
Eichenbaum, Martin; Evans, Charles L. - 2021
rates. The temporal pattern of the depreciation in U.S. nominal exchange rates following a positive monetary policy shock is …
Persistent link: https://www.econbiz.de/10013243942
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Sources of Real Exchange Rate Fluctuations : How Important are Nominal Shocks?
Clarida, Richard; Galí, Jordi - 2021
This paper investigates empirically and attempts to identify the sources of real exchange rate fluctuations since the collapse of Bretton Woods. The paper's first two sections survey and extend earlier, non-structural empirical work on this subject by Campbell and Clarida (1987), Meese and...
Persistent link: https://www.econbiz.de/10013237263
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Trade Linkages and Output-Multiplier Effects : A Structural VAR Approach with a Focus on Asia
Abeysinghe, Tilak; Forbes, Kristin J. - 2022
This paper develops a structural VAR model to measure how a shock to one country can affect the GDP of other countries …. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries' output …-trade matrix. For example, due to these output-multiplier effects, a shock to one country can have a large impact on countries that …
Persistent link: https://www.econbiz.de/10013292459
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International Shocks and Domestic Prices : How Large are Strategic Complementarities?
Amiti, Mary - 2016
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...
Persistent link: https://www.econbiz.de/10012995977
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Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
Ravn, Morten O. - 2007
government spending shock. In addition, the deep-habit model predicts that in response to an anticipated increase in government …
Persistent link: https://www.econbiz.de/10012776197
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Identifying the Effects of Monetary Policy Shocks on Exchange Rates Using High Frequency Data
Faust, Jon; Rogers, John H.; Swanson, Eric T.; Wright, … - 2021
This paper proposes a new approach to identifying the effects of monetary policy shocks in an international vector autoregression. Using high-frequency data on the prices of Fed Funds futures contracts, we measure the impact of the surprise component of the FOMC-day Federal Reserve policy...
Persistent link: https://www.econbiz.de/10013226543
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Identifying Ambiguity Shocks in Business Cycle Models Using Survey Data
Bhandari, Anmol - 2016
permit estimation using standard Bayesian techniques. Applying our framework to an estimated New-Keynesian business cycle …
Persistent link: https://www.econbiz.de/10012992656
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Monetary Policy in a Data-Rich Environment
Bernanke, Ben; Boivin, Jean - 2021
Most empirical analyses of monetary policy have been confined to frameworks in which the Federal Reserve is implicitly assumed to exploit only a limited amount of information, despite the fact that the Fed actively monitors literally thousands of economic time series. This article explores the...
Persistent link: https://www.econbiz.de/10013226548
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The Long-Term Impact of the Covid-19 Unemployment Shock on Life Expectancy and Mortality Rates
Bianchi, Francesco; Bianchi, Giada; Song, Dongho - 2021
estimate the size of the COVID-19-related unemployment shock to be between 2 and 5 times larger than the typical unemployment … shock, depending on race and gender, resulting in a significant increase in mortality rates and drop in life expectancy. We … also predict that the shock will disproportionately affect African-Americans and women, over a short horizon, while the …
Persistent link: https://www.econbiz.de/10013247846