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Fiscal Stance and the Real Exchange : Some Empirical Estimates

Clarida, Richard - 1999

across the G3 countries in their estimated dynamic responses to a fiscal shock. At first, and for several years thereafter …, the real exchange rate appreciates in response to an expansionary fiscal shock. However, eventually, the process is … reversed; the real exchange rate overshoots and actually depreciates relative to its initial prevailing before the fiscal shock …

Persistent link: https://www.econbiz.de/10012471719

Exchange Rates and Local Labor Markets

Goldberg, Linda - 1999

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/10012471823

More Amazon Effects : Online Competition and Pricing Behaviors

Cavallo, Alberto - 2018

I study how online competition, with its algorithmic pricing technologies and the transparency of the Internet, can change the pricing behavior of large retailers and affect aggregate inflation dynamics. In particular, I show that online competition has raised both the frequency of price changes...

Persistent link: https://www.econbiz.de/10012480790

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/10012465322

The Long-Run Volatility Puzzle of the Real Exchange Rate

Hausmann, Ricardo - 2004

This paper documents large cross-country differences in the long run volatility of the real exchange rate. In particular, it shows that the real exchange rate of developing countries is approximately three times more volatile than the real exchange rate in industrial countries. The paper tests...

Persistent link: https://www.econbiz.de/10012467939

On the Empirics of Sudden Stops : The Relevance of Balance-Sheet Effects

Calvo, Guillermo A. - 2004

Using a sample of 32 developed and developing countries we analyze the empirical characteristics of sudden stops in capital flows and the relevance of balance sheet effects in the likelihood of their materialization. We find that large real exchange rate (RER) fluctuations coming hand in hand...

Persistent link: https://www.econbiz.de/10012468173

Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?

Chari, V.V. - 2000

The central puzzle in international business cycles is that real exchange rates are volatile and persistent. The most popular story for real exchange rate fluctuations is that they are generated by monetary shocks interacting with sticky goods prices. We quantify this story and find that it can...

Persistent link: https://www.econbiz.de/10012470868

The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates

Chinn, Menzie David - 1997

The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...

Persistent link: https://www.econbiz.de/10012472706

Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles

Chari, V. V. - 1997

The data show large and persistent deviations of real exchange rates from purchasing power parity. Recent work has shown that to a large extent these movements are driven by deviations from the law of one price for traded goods. In the data, real and nominal exchange rates are about 6 times as...

Persistent link: https://www.econbiz.de/10012472952

An International Comparison of Employment Adjustment to Exchange Rate Fluctuations

Burgess, Simon - 1996

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/10012472967

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