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Nominal GDP Targeting for Middle-Income Countries
Frankel, Jeffrey - In: Central Bank Review 14 (2014) 3, pp. 1-14
a nominal GDP target, which automatically divides an adverse supply shock equally between impacts on inflation and real … supply, exchange rate,or inflation. But the proposal appears in the context of the largest advanced economies. In fact NGDP … output and inflation but a credible rule is needed in order to prevent an inflationary bias that arises under discretion. A …
Persistent link: https://www.econbiz.de/10010941568
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The Great Depression in Canada and the United States: A Neoclassical Perspective
Amaral, Pedro; MacGee, James C. - In: Review of Economic Dynamics 5 (2002) 1, pp. 45-72
Canada suffered a major depression from 1929 to 1939. In terms of output, it was similar to the Great Depression in the United States. However, total factor productivity (TFP) in Canada did not recover relative to trend, the in the United States TFP had revered by 1937. We find that the...
Persistent link: https://www.econbiz.de/10005027374
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Realeinkommen und Terms of Trade
Nierhaus, Wolfgang - In: Ifo Schnelldienst 66 (2013) 16, pp. 31-34
Das Statistische Bundesamt berechnet seit der großen VGR-Revision 1999 neben dem preisbereinigten Bruttoinlandsprodukt auch den Realwert des Bruttoinlands­produkts, d.h. die Kaufkraft der im Wirtschaftsprozess entstandenen Einkommen. Mit dem Ausweis dieser Größe, einer der...
Persistent link: https://www.econbiz.de/10010693458
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In Search of a Dramatic Equilibrium; Was the Armenian Dram Overvalued?
Oomes, Nienke; Stepanyan, Vahram; Minasyan, Gohar; … - International Monetary Fund (IMF) - 2009
This papers estimates the equilibrium exchange rate for Armenia using three different approaches: the purchasing power parity (PPP) approach, the behavioral equilibrium exchange rate (BEER) approach, and the external sustainability (ES) approach. All three approaches suggest that the dram was...
Persistent link: https://www.econbiz.de/10005825670
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Estimating China's "Equilibrium" Real Exchange Rate
Li, Xiangming; Dunaway, Steven Vincent - International Monetary Fund (IMF) - 2005
The number of studies attempting to estimate the "equilibrium" real value of China's currency has proliferated in recent years as the country's presence in world markets has grown. These studies have sought to establish whether or not a significant part of China's competitive prowess can be...
Persistent link: https://www.econbiz.de/10005825966
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Modelling the US$/A$ Exchange Rate Using Cointegration Techniques
Karfakis, Costas; Phipps, Anthony - School of Economics, Faculty of Arts and Social Sciences - 1996
differences in expected inflation rates, contribute significantly to an explanation of short-run changes in the nominal exchange …
Persistent link: https://www.econbiz.de/10008690447
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Are there oil currencies? The real exchange rate of oil exporting countries
Habib, Maurizio Michael; Kalamova, Margarita Manolova - European Central Bank - 2007
This paper investigates whether the real oil price has an impact on the real exchange rates of three main oil-exporting countries: Norway, Russia and Saudi Arabia. We create our measure of the real effective exchange rates for Norway and Saudi Arabia (1980-2006) and for Russia (1995-2006),...
Persistent link: https://www.econbiz.de/10005530806
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Real and Nominal Convergence of the Cee Countries
Vintrová, Růžena - In: Politická ekonomie 2007 (2007) 2, pp. 206-225
This paper deals with the narrowing the income gap between the Central and East European New Member States (NMS-5) and the EU-25 and with the trade-off between the real and nominal convergence. The methodology is based on international standards enabling comparisons of macroeconomic indicators,...
Persistent link: https://www.econbiz.de/10005036693
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Modelling the US$/A$ Exchange Rate Using Cointegration Techniques
Karfakis, Costas; Phipps, Anthony - In: European Research Studies Journal I (1998) 1, pp. 91-108
differences in expected inflation rates, contribute significantly to an explanation of short-run changes in the nominal exchange …
Persistent link: https://www.econbiz.de/10008512797
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Deflation and Relative Prices: Evidence from Japan and Hong Kong
Gerlach, Stefan; Kugler, Peter - Wirtschaftswissenschaftliches Zentrum, Universität Basel - 2007
both the inflation and deflation periods, and the parameteron the second moment changes sign in the deflation period, as … inflation should differ between inflation anddeflation episodes, using data for Japan and Hong Kong. We use a random …
Persistent link: https://www.econbiz.de/10009025007