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What Determines Real Exchange Rates? The Nordic Countries
Bergvall, Anders - 2002
, relative productivity, the trade balance and terms of trade. Countries with higher productivity, trade deficits or improved …
Persistent link: https://www.econbiz.de/10010321757
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Capital controls and the real exchange rate: Do controls promote disequilibria?
Montecino, Juan Antonio - 2015
The consensus view is that capital controls can effectively lengthen the maturity composition of capital inflows and increase the independence of monetary policy but are not generally effective at reducing net inflows and influencing the real exchange rate. This paper presents empirical evidence...
Persistent link: https://www.econbiz.de/10011526698
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Revisiting the Importance of Non-Tradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations
Bache, Ida Wolden; Næss, Kjersti; Sveen, Tommy - 2009
In an influential paper Engel (1999. Accounting for U.S. Real Exchange Rate Changes, Journal of Political Economy 107, 507-538) argues that essentially all the fluctuations in the real exchange rate can be attributed to fluctuations in the relative price of traded goods, and that only a small...
Persistent link: https://www.econbiz.de/10012143708
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Determinants of real exchange rate movements in 15 emerging market economies
Goda, Thomas; Priewe, Jan - 2019
Previous work has established that an appreciation of the real exchange rate (REER) contributes to premature deindustrialization, less productive investment and dependence on commodity booms and busts in emerging markets economies (EME). From the previous literature, it is less clear however...
Persistent link: https://www.econbiz.de/10012109599
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The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates
Chinn, Menzie David - 1998
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 productivity levels are calculated for China … rates and relative productivity ratios, one finds a relationship for Japan, Malaysia, the Philippines. Only when augmenting …
Persistent link: https://www.econbiz.de/10013369948
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The Stabilizing Properties of Floating Exchange Rates: Some International Evidence
Bergvall, Anders - 2002
This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...
Persistent link: https://www.econbiz.de/10010321739
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Exchange Rate Regimes and Macroeconomic Stability: The Case of Sweden 1972-1996
Bergvall, Anders - 2002
In this paper I investigate the relevance of the exchange rate regime for macroeconomic stability. I simulate hypothetical macroeconomic developments under different regimes in Sweden during the period 1972 -1996. The main question is how stable output would have been if Sweden had had a...
Persistent link: https://www.econbiz.de/10010321762
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Exchange rates and long-term bonds
Alexius, Annika; Sellin, Peter - 2002
Tentative evidence suggests that the empiricalfailure of uncovered interest parity (UIP) is confined to short-term interest rates. Tests of UIP for long-term interest rates are however hampered by various data problems. By focusing on short investments in long-term bonds, these data problems can...
Persistent link: https://www.econbiz.de/10010321763
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Can Endogenous Monetary Policy Explain the Deviations from UIP
Alexius, Annika - 2002
The co-movements of nominal exchange rates and short-term interest rates as the economy is hit by shocks is a potential source of ex post deviations from uncovered interest rate parity. This paper investigates whether an established model of endogenous monetary policy in an open economy is...
Persistent link: https://www.econbiz.de/10010321797
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Exchange Rate Variability Inside and Outside the EMU
Bergbom, Lennart - 1998
An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not necessarily true. Both real and nominal exchange rate variability increase under certain circumstances when asymmetric demand shocks occur inside or outside the union. These results...
Persistent link: https://www.econbiz.de/10010321810