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Testing for Purchasing Power Parity in Cointegrated Panels
Carlsson, Mikael; Lyhagen, Johan; Österholm, Pär - 2007
This paper applies the recently developed maximum-likelihood-panel cointegration method of Larsson and Lyhagen (2007) to test the strong PPP hypothesis during the recent ‡oat period on data for the G7 countries. This method is robust in several important dimensions relative to previous methods,...
Persistent link: https://www.econbiz.de/10010321519
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Purchasing power parity and the European single currency: some new evidence
Christidou, Maria; Panagiotidis, Theodore - 2010
The effect of the single currency on the Purchasing Power Parity (PPP) hypothesis is examined in this study for the 15 EU countries, vis a vis the US dollar, before and after the advent of the euro. Standard as well as nonlinear unit root tests are employed on the time series dimension. Unit...
Persistent link: https://www.econbiz.de/10010273678
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PPP in OECD Countries: An Analysis of Real Exchange Rate Stationarity, Cross-sectional Dependency and Structural Breaks
Holmes, Mark J.; Otero, Jesús; Panagiotidis, Theodore - 2011
The stationarity of OECD real exchange rates over the period 1972-2008 is tested using a panel of twenty six member countries. The methodology followed stems from the need to meet several key concerns: (i) the identification of which panel members are stationary; (ii) the presence of...
Persistent link: https://www.econbiz.de/10010500197
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The Role of the Exchange Rate Stability in a Small and Open Economy: The Case of the Republic of Macedonia
Besimi, Fatmir - 2004
The purpose of this paper is to present the role of the exchange rate stability in a small and open economy, where the case of the Republic of Macedonia is investigated. Also, an accent is given to the role of the expectations of the economic agents for the future movements of the exchange rate,...
Persistent link: https://www.econbiz.de/10011785335
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A DSGE model for a SOE with systematic interest and foreign exchange policies in wich policymakers exploit the risk premium for stabilization purposes
Escudé, Guillermo - 2013
This paper builds a DSGE model for a SOE in which the central bank systematically intervenes both the domestic currency bond and the FX markets using two policy rules: a Taylor-type rule and a second rule in which the operational target is the rate of nominal currency depreciation. For this, the...
Persistent link: https://www.econbiz.de/10010325096
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Order flow in the South: Anatomy of the Brazilian FX market
Wu, Thomas - 2007
This paper analyses one of the main pillars of Brazil.s newly found economic resilience: a maturing FX market providing … June 30, 2003 (a time period in which Brazil suffered two severe external liquidity shocks). …
Persistent link: https://www.econbiz.de/10010322735
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Order flow in the South: Anatomy of the Brazilian FX market
Wu, Thomas - 2007
This paper contributes to the microstructure approach to exchange rates in two ways. Using a unique dataset that covers 100% of the Brazilian FX financial market, we find a strict link between FX currency flows and the Balance of Payments. Second, we develop an identification strategy that...
Persistent link: https://www.econbiz.de/10010285344
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Couple's behaviour in the Brazilian labour market: The influence of social security and individual characteristics on married individuals' labour supply decisions
Queiroz, Bernardo Lanza; de Souza, Laetícia Rodrigues - 2013
In recent years, a large number of studies have investigated the relationship between social security benefits and male retirement decisions in developed countries. However, women's and couples' labour supply decisions and the patterns of withdrawal from the labour force in emerging economies...
Persistent link: https://www.econbiz.de/10010293260
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Inflation targeting in Brazil
Arestis, Philip; de Paula, Luiz Fernando Rodrigues; … - 2008
the case of Brazil. The IT monetary policy regime has been adopted by a significant number of countries. While the focus … of this paper is on Brazil, which began inflation targeting in 1999, we also examine the experience of other countries … compare the experience of Brazil with that of non-IT countries, and ask the question of whether adopting IT makes a difference …
Persistent link: https://www.econbiz.de/10010276235
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Gender and racial wage gaps in Brazil 1996-2006: Evidence using a matching comparisons approach
Marques Garcia, Luana; Ñopo, Hugo; Salardi, Paola - 2009
matching comparison methodology developed by Ñopo (2008). In Brazil, racial wage gaps are more pronounced than those found …
Persistent link: https://www.econbiz.de/10010278245