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Investment, Pass-Through and Exchange Rates : A Cross-Country Comparison
Campa, Jose - 1995
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/10012473743
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Real Exchange Rates and Relative Prices : An Empirical Investigation
Engel, Charles - 1992
This paper uncovers a striking empirical regularity: the consumer price of a good relative to a different good within a country tends to be much less variable than the price of that good relative to a similar good in another country. This fact seems to hold for all goods except very simple,...
Persistent link: https://www.econbiz.de/10012474732
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Conditional PPP and Real Exchange Rate Convergence in the Euro Area
Bergin, Paul R. - 2016
While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange...
Persistent link: https://www.econbiz.de/10012456694
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The Micro-Macro Disconnect of Purchasing Power Parity
Bergin, Paul R. - 2009
relative prices in microeconomic data. Panel estimation of an error correction model using a micro data set uncovers new …
Persistent link: https://www.econbiz.de/10012463026
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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
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Currency Unions, Product Introductions, and the Real Exchange Rate
Cavallo, Alberto - 2012
We use a novel dataset of online prices of identical goods sold by four large global retailers in dozens of countries to study good-level real exchange rates and their aggregated behavior. First, in contrast to the prior literature, we demonstrate that the law of one price holds very well within...
Persistent link: https://www.econbiz.de/10012460097
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The Asian Flu and Russian Virus : Firm-level Evidence on How Crises are Transmitted Internationally
Forbes, Kristin - 2000
This paper uses firm-level information to evaluate how crises are transmitted internationally. It constructs a new data set of financial statistics, industry information, geographic data, and stock returns for over 10,000 companies in 46 countries to test what types of firms were most affected...
Persistent link: https://www.econbiz.de/10012470943
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A Decomposition of Global Linkages in Financial Markets Over Time
Forbes, Kristin J. - 2003
This paper tests if real and financial linkages between countries can explain why movements in the world's largest … between the world's 5 largest economies and about 40 other markets to decompose the cross-country factor loadings into: direct … to be the most important determinant of how movements in the world's largest markets affect financial markets around the …
Persistent link: https://www.econbiz.de/10012469145
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Market Integration and Contagion
Bekaert, Geert - 2003
to providing new insights on contagion during crisis periods, we document patterns through time in world and regional …
Persistent link: https://www.econbiz.de/10012469193
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Financial Markets in Times of Stress
Kaminsky, Graciela L. - 2001
In this paper, we examine which markets are most synchronized internationally and exhibit the greater extent of comovement. We focus on daily data for four asset markets: bonds, equities, foreign exchange, and domestic money market. Our sample covers thirty-five developed and emerging market...
Persistent link: https://www.econbiz.de/10012470149