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The empirical determinants of the Euro : short and long run perspectives

Chinn, Menzie David - 2000

is provided by a productivity-based model of the real value of the euro. Some panel regression estimates of the … relationship between intercountry relative productivity differentials and real exchange rates is presented. Using these estimates … to conduct some calculations, one comes to the conclusion that unless drastic changes to productivity trends occur, there …

Persistent link: https://www.econbiz.de/10009583879

Does trade openness influence the real effective exchange rate? : new evidence from panel time-series

Gantman, Ernesto R.; Dabós, Marcelo - In: SERIEs : Journal of the Spanish Economic Association 9 (2018) 1, pp. 91-113

exchange rate (REER), on the one hand, and trade openness, trade balance, the terms of trade, factor productivity, and exchange … depreciation of the REER. The other variables considered in the analysis-factor productivity, trade balance, terms of trade, and …

Persistent link: https://www.econbiz.de/10011865211

The Empirical Determinants of the Euro : Short and Long Run Perspectives

Chinn, Menzie David - 2003

Persistent link: https://www.econbiz.de/10014148770

The Euro and the Productivity Puzzle : An Alternative Interpretation

Chinn, Menzie David; Alquist, Ron - 2002

This paper documents the evidence for a productivity based model of the Dollar/Euro real exchange rate over the 1985 …-2001 period. Cointegrating relationships between the real exchange rate and productivity, government spending and the real price … the US-Euro area productivity differential results in a five percentage point real appreciation of the dollar. This …

Persistent link: https://www.econbiz.de/10014123667

Exchange rate risks and asset prices in a small open economy

Derviz, Alexis - 2004

The paper proposes a multi-factor international asset pricing model in which the exchange rate is allowed to be co-determined by a risk factor imperfectly correlated to other priced risks in the economy. The significance of this factor can be established as long as one is able to observe a proxy...

Persistent link: https://www.econbiz.de/10009636537

Three current account balances : a "semi-structuralist" interpretation

Chinn, Menzie David; Yi, Chae-u - 2007 - Rev.

Three current account imbalances - one very large deficit (the United States) and two surpluses (Japan and the Euro area) - are subjected to a minimalist structural interpretation. Though simple, this interpretation enables us to assess how much of each of the imbalances require a real exchange...

Persistent link: https://www.econbiz.de/10003855162

Transatlantic monetary and fiscal policy interaction

Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003

This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...

Persistent link: https://www.econbiz.de/10011509484

Germany versus the United States : monetary Dominance in the Eurozone

Quah, Chee Heong - In: Economies : open access journal 4 (2016) 2, pp. 1-16

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their relations with the hegemonic economy have been more symmetrical after "euroization". The dimensions explored are those inspired by the optimum currency areas (OCA) framework. To...

Persistent link: https://www.econbiz.de/10011499412

The Impact of Fiscal Rules on Public Finances : Theory and Empirical Evidence for the Euro Area

Marneffe, Wim - 2011

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the...

Persistent link: https://www.econbiz.de/10013131350

The Sustainability of Monetary Unions - Can the Euro Survive?

Canofari, Paolo - 2012

This paper aims to propose a new measure of exchange market pressure for countries operating in hard peg regimes, such as currency unions, currency boards or full dollarization. We use a general model of currency crisis to derive a sustainability index based upon the relationship between the...

Persistent link: https://www.econbiz.de/10013108459

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