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Risk Sharing and Real Exchange Rates : The Role of Non-Tradable Sector and Trend Shocks
Akkoyun, Hüseyin - 2017
Most of the international macro models, in contrast to the data, imply a very high level of risk sharing across countries and very low real exchange rate (RER) volatility relative to output. In this paper we show that a standard two-country two-good model augmented with conintegrated TFP...
Persistent link: https://www.econbiz.de/10012962025
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Non-Traded Goods and Real Exchange Rate Volatility in a Two-Country DSGE Model
Azcona, Nestor - 2016
This paper uses a two-country dynamic stochastic general equilibrium model (DSGE) to study how different characteristics of an economy, such as openness or price stickiness, affect the contribution of the relative price of non-traded goods to real exchange rate fluctuations. The model shows that...
Persistent link: https://www.econbiz.de/10013006501
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A European disease? : non-tradable inflation and real interest rate divergence ; current account adjustments
Piton, Sophie - In: CESifo economic studies : CESifo, a joint initiative of … 63 (2017) 2, pp. 210-234
expansion of the non-tradable sector in the periphery before the crisis. It then carries out an econometric estimation for 11 EA …
Persistent link: https://www.econbiz.de/10011778774
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Production structure, tradability and fiscal spending multipliers
Crespo Cuaresma, Jesús; Glocker, Christian - 2023
between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …
Persistent link: https://www.econbiz.de/10014321510
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Production structure, tradability and fiscal spending multipliers
Crespo Cuaresma, Jesús; Glocker, Christian - In: Journal of international money and finance 138 (2023), pp. 1-19
Persistent link: https://www.econbiz.de/10014478210
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A European disease? : non-tradable inflation and real interest rate divergence
Piton, Sophie - 2016
Persistent link: https://www.econbiz.de/10011507271
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Modelling determinants of inflation in CESEE countries : global vector autoregressive approach
Jakši, Saša - In: Národohospodářský obzor : časopis věnovaný … 22 (2022) 2, pp. 137-169
Persistent link: https://www.econbiz.de/10013270502
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Trade and investments in the EMU regions
Martellato, Dino - In: Spatial dynamics of European integration : regional and …, (pp. 110-128). 1999
Persistent link: https://www.econbiz.de/10001401788
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Non-stationary Real Exchange Rates of Tradable and Non-tradable Goods in the European Monetary Union
Maurer, Rainer - 2021
This study analyzes the time series behavior of the real exchange rates based on the Harmonized Index of Consumer Prices and various of its sub-components for tradable and non-tradable goods and services between the member states of the European Monetary Union. Country pair specific tests show...
Persistent link: https://www.econbiz.de/10013321784
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Does the euro make a difference? : spatio-temporal transmission of global shocks to real effective exchange rates in an infinite VAR
Bussière, Matthieu; Chudik, Alexander; Mehl, Arnaud - 2011
, the paper applies a newly developed methodology based on infinite VAR theory featuring a dominant unit to a large set of … dollar shock, generalised impulse response function shocks and a global shock to risk aversion. Our results show that the way … depends crucially on the nature of the shock. This result is noteworthy given the apparent divergence in competitiveness …
Persistent link: https://www.econbiz.de/10008901483