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Traditional specifications of export equations incorporate foreign demand as a demand pull factor and the real exchange rate as a relative price variable. However, such standard export equations have failed to explain the export performance of euro area countries during the crisis period. In...
Persistent link: https://www.econbiz.de/10013073245
In this paper a non-linear model is applied, where suddenly strong spurts of exports occur when changes of the exchange rate go beyond a zone of inaction, which we call “play” area – analogous to mechanical play. We implement an algorithm describing path-dependent play-hysteresis into a...
Persistent link: https://www.econbiz.de/10013000552
evidence of the importance of sunk costs and hysteresis in international trade …
Persistent link: https://www.econbiz.de/10013018214
for Spain, Portugal and Italy providing evidence of the importance of sunk costs and hysteresis in international trade …
Persistent link: https://www.econbiz.de/10013031989
This study analyzes the exchange rate pass-through into German import prices based on disaggregated data taken on a monthly basis between 1995 and 2012. Our main contribution is twofold: firstly, we employ various time-series techniques to analyze data for different product categories, and also...
Persistent link: https://www.econbiz.de/10013077818
evidence of the importance of sunk costs and hysteresis in international trade in these EMU member countries. What is more, our …
Persistent link: https://www.econbiz.de/10012947452