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The Micro-Macro Disconnect of Purchasing Power Parity

Bergin, Paul R. - 2009

slower version of adjustment to the law of one price in microeconomic data, as arbitrage occurs in different markets, in …

Persistent link: https://www.econbiz.de/10012463026

The Nature of Excess : Using Randomized Treatments to Investigate Price Dynamics

Al-Ubaydli, Omar - 2010

This study explores empirically the price dynamics within two distinct market institutions - a double oral auction …

Persistent link: https://www.econbiz.de/10012462338

Puzzles in International Financial Markets

Lewis, Karen K. - 1994

This paper presents a survey of two basic puzzles in international finance. The first puzzle is the `predictable excess return puzzle.' The returns on foreign currency deposits relative to domestic currency deposits should be equalized based upon uncovered interest parity. However, not only do...

Persistent link: https://www.econbiz.de/10012473948

Monopolistic Competition and Deviations from PPP

Aizenman, Joshua - 1985

market structure in which pricing decisions incur costs. That lead producers to pre-set the price path for several periods … expectation equilibrium, characterized by staggered, unsynchronized price setting, for which the degree of staggering is …

Persistent link: https://www.econbiz.de/10012477534

Capital Flows, the Current Account, and the Real Exchange Rate : Consequences of Liberalization and Stabilization

Obstfeld, Maurice - 1984

This paper develops a dynamic framework in which macroeconomic liberalization and stabilization measures of the type recently seen in Latin America can be studied. The model is sufficiently general to cover both polar cases of a closed capital account and free private capital mobility, so the...

Persistent link: https://www.econbiz.de/10012477560

Imperfect Competition and the Effects of Energy Price Increases on Economic Activity

Rotemberg, Julio J. - 1996

to explain the size of the declines in output and real wages that follow increases in the price of oil. Plausibly …

Persistent link: https://www.econbiz.de/10012473211

Explaining Sudden Stops, Growth Collapse and BOP Crises : The Case of Distortionary Output Taxes

Calvo, Guillermo A. - 2003

The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as fiscal burden reaches a critical level. Growth collapse is associated with a Sudden Stop of capital inflows, real depreciation and a drop in output...

Persistent link: https://www.econbiz.de/10012468833

World Income Components : Measuring and Exploiting International Risk Sharing Opportunities

Shiller, Robert J. - 1995

We provide methods of decomposing the variance of world national incomes into components in such a way as to indicate the most important risk-sharing opportunities, and, therefore, the most important missing international risk markets to establish. One method uses a total variance reduction...

Persistent link: https://www.econbiz.de/10012473792

Exchange Rate Economics : 1986

Dornbusch, Rudiger - 1986

In the past fifteen years key exchange rates have moved in larger and more persistent ways than advocates of flexible rates in the late 1960s would have left anyone free to imagine. Certainly there was no expectation of constancy for nominal exchange rates. But real exchange rate movements of 30...

Persistent link: https://www.econbiz.de/10012476999

Exchange Rates, Money and Relative Prices : The Dollar-Pound in the 1920's

Clements, Kenneth W. - 1980

the relationship between exchange rates and the relative price of traded to non-traded goods. In the empirical work the … prices of traded goods are proxied by the wholesale price indices and the prices of non-traded are proxied by wages. One of … the key findings of the paper is the estimate of the elasticity of the exchange rate with respect to the relative price of …

Persistent link: https://www.econbiz.de/10012478716

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