Narrow search
Showing 1 - 10 of 16,956
Cover Image
Producer Prices in the Transition to a Common Currency
Andrén, Niclas; Oxelheim, Lars - 2006
We analyze producer price developments in the transition from a national exchange rate regime to a monetary union. The focus is on the European Economic and Monetary Union (EMU). Stylized facts witness about an exploding gaps in producer-price inflation during the years immediately following the...
Persistent link: https://www.econbiz.de/10010320173
Cover Image
Aggregation and the PPP puzzle in a sticky-price model
Carvalho, Carlos; Nechio, Fernanda - 2008
with a counterfactual one-sector world economy that features the same average frequency of price changes and is otherwise … identical to the multisector world economy. When simulated with a sectoral distribution of price stickiness that matches the …
Persistent link: https://www.econbiz.de/10010283517
Cover Image
Sticky Information vs. Sticky Prices : A Horse Race in a DSGE Framework
Trabandt, Mathias - 2003
Mankiw and Reis (2002) have proposed sticky information as an alternative to Calvo sticky prices in order to model the conventional view that i) inflation reacts with delay and gradually to a monetary policy shock, ii) announced and credible disinflations are contractionary and iii) inflation...
Persistent link: https://www.econbiz.de/10010296476
Cover Image
Sticky information vs. sticky prices: A horse race in a DSGE framework
Trabandt, Mathias - 2007
How can we explain the observed behavior of aggregate inflation in response to e.g. monetary policy changes? Mankiw and Reis (2002) have proposed sticky information as an alternative to Calvo sticky prices in order to model the conventional view that i) inflation reacts with delay and gradually...
Persistent link: https://www.econbiz.de/10010320800
Cover Image
Exchange rate uncertainty and deviations from purchasing power parity: Evidence from the G7 area
Arghyrou, Michael G.; Gregoriou, Andros; Pourpourides, … - 2009
Arghyrou, Gregoriou and Pourpourides (2009) argue that exchange rate uncertainty causes deviations from the law of one price. We test this hypothesis on aggregate data from the G7-area. We find that exchange rate uncertainty explains to a significant degree deviations from Purchasing Power Parity.
Persistent link: https://www.econbiz.de/10010288807
Cover Image
Exchange Rate Policies: Fact or Fiction in the Rise of High Performance Asian Economies
Subaşat, Turan - 2008
Many economists believe that the nature of exchange rate management was an important reason for rapid economic growth in East Asia. In this view, Asian countries avoided extreme exchange rate appreciations and kept their nominal exchange rates close to market clearing levels. In contrast, the...
Persistent link: https://www.econbiz.de/10011807188
Cover Image
Nominal exchange rate flexibility and real exchange rate adjustment : evidence from dual exchange rates in developing countries
Cheung, Yin-Wong; Lai, Kon-Sun - 2005
This study investigates whether exchange rate flexibility aids real exchange rate adjustment based on intra-period data … produces faster or slower real exchange rate adjustment than the much less flexible official rate does. Half-life estimates of … adjustment speeds are obtained using fractional time series analysis. We find no systematic evidence that greater exchange rate …
Persistent link: https://www.econbiz.de/10010274493
Cover Image
Exchange rate forecasters' performance: Evidence of skill?
MacDonald, Ronald; Menkhoff, Lukas; Rebitzky, Rafael R. - 2009
This paper sheds new light on a long-standing puzzle in the international finance literature, namely, that exchange rate expectations appear inaccurate and even irrational. We find for a comprehensive dataset that individual forecasters' performance is skill-based. 'Superior' forecasters show...
Persistent link: https://www.econbiz.de/10010264610
Cover Image
Customer trading in the foreign exchange market empirical evidence from an internet trading platform
Lechner, Sandra; Nolte, Ingmar - 2007
This paper analyzes the relationship between currency price changes and their expectations. Currency price change expectations are derived with the help of different order flow measures, from the trading behavior of investors on OANDA FXTrade, which is an internet trading platform in the foreign...
Persistent link: https://www.econbiz.de/10010266950
Cover Image
Cointegration in the foreign exchange market and market efficiency since the introduction of the Euro: Evidence based on bivariate cointegration analyses
Kühl, Michael - 2007
of the global foreign exchange market to the extent that the second most important currency in the world with the highest … adjustment to the long-run equilibrium. …
Persistent link: https://www.econbiz.de/10010300150