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Persistent link: https://www.econbiz.de/10001584428
This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...
Persistent link: https://www.econbiz.de/10011473872
for the period 1970-92. Simulation results indicate that the observed volatility of multilateral real exchange rates for … the United States, Germany and Japan is not inconsistent with exchange rate volatility implied by consumption …
Persistent link: https://www.econbiz.de/10012781855
This paper documents the evidence in support of fiscal and monetary exchange rates for the Canadian dollar, Deutschemark, Yen, and Pound over the 1974-1993 period. Cointegrating relationships between the real exchange rate and (i) fiscal impulses and (ii) productivity and government spending are...
Persistent link: https://www.econbiz.de/10014116846
of our estimation period, the previous exchange rate movements had shifted the upper bound of the play area to about 1 …
Persistent link: https://www.econbiz.de/10013150299
euro. At the end of our estimation period, the previous exchange rate movements had shifted the upper bound of the play …
Persistent link: https://www.econbiz.de/10013155088
euro. At the end of our estimation period, the previous exchange rate movements had shifted the upper bound of the play …
Persistent link: https://www.econbiz.de/10003901021
euro. At the end of our estimation period, the previous exchange rate movements had shifted the upper bound of the play …
Persistent link: https://www.econbiz.de/10003904641
euro. At the end of our estimation period, the previous exchange rate movements had shifted the upper bound of the play …
Persistent link: https://www.econbiz.de/10003891080
Persistent link: https://www.econbiz.de/10001409297