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Measuring the Effectiveness of Cost and Price Competitiveness in External Rebalancing of Euro Area Countries : What Do Alternative HCIs Tell Us?
Christodoulopoulou, Styliani - 2014
This study examines the marginal effects of traditional determinants of exports and imports with a focus on the role of … harmonised competitiveness indicators (HCIs) on both exports and imports of both goods and services across individual euro area … exceptions) on exports of goods. Exports of services are sensitive to HCIs in big euro area countries and Slovakia, where exports …
Persistent link: https://www.econbiz.de/10013047096
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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
Using a dataset of 101 countries over the 1960–2011 period, we examine the relationship between the real effective exchange rate (REER), on the one hand, and trade openness, trade balance, the terms of trade, factor productivity, and exchange rate regime, on the other one. We use new...
Persistent link: https://www.econbiz.de/10011865211
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Are exchange rates less important for trade in a more globalized world? : evidence for the new EU members
Fisera, Boris; Horváth, Roman - 2020
We evaluate the effect of exchange rate misalignments on the balance of trade and the role that global value chain participation plays in this effect for 11 new European Union member states. Using heterogeneous panel cointegration methods, we first estimate the real equilibrium exchange rate and...
Persistent link: https://www.econbiz.de/10012242810
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Exchange rate pass-through in the euro area and EU countries
Ortega, Eva; Osbat, Chiara - 2020
Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in the 1990s and is non-linear. Low estimated aggregate ERPT to consumer prices does not at all mean that exchange rate movements do not have an impact on inflation, as aggregate...
Persistent link: https://www.econbiz.de/10012206373
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Exchange rates and political uncertainty : the Brexit case
Manasse, Paolo; Moramarco, Graziano; Trigilia, Giulio - 2020
This paper studies the impact of political risk on exchange rates. We focus on the Brexit Referendum as it provides a natural experiment where both exchange rate expectations and a time-varying political risk factor can be measured directly. We build a simple portfolio model which predicts that...
Persistent link: https://www.econbiz.de/10012158993
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Measuring Long-Run Exchange Rate Pass-Through
Kozluk, Tomasz; Banerjee, Anindya; de Bandt, Olivier - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-6, pp. 1-36
The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a cointegrating relationship (between import unit...
Persistent link: https://www.econbiz.de/10010295304
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The impact of Brexit uncertainties on international trade : evidence from Belgium
Schmitz, Emerson - 2019
find that the instable environment created by the Brexit referendum leads to lower intensive margin of Belgian exports to … associated costs of postponing or diverting exports. The results for Belgian manufacturing firms, which are more responsive to …
Persistent link: https://www.econbiz.de/10012138102
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The Role of Price and Cost Competitiveness for Intra- and Extra-Euro Area Trade of Euro Area Countries
Bobeica, Elena - 2016
driver of trade flows outside the euro area as compared to those within the monetary union, especially for exports, that tend … costs appear to contain relatively more information for trade flows, particularly for exports outside the euro area.The key …
Persistent link: https://www.econbiz.de/10012984573
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Exchange rate volatility in the eurozone
Bajo Rubio, Oscar; Berke, Burcu; McMillan, David G. - 2019
rate of growth of exports in the eurozone since the start of the crisis. To that end, the authors estimate export functions … impact of exchange rate volatility on the exports of the countries analysed, suggesting that financial markets were developed … enough so that exchange rate volatility does not hinder the evolution of exports. …
Persistent link: https://www.econbiz.de/10012120065
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Exchange rate volatility in the eurozone
Bajo-Rubio, Oscar; Berke, Burcu; McMillan, David G. - 2020
rate of growth of exports in the eurozone since the start of the crisis. To that end, they estimate export functions … impact of exchange rate volatility on the exports of the countries analysed, suggesting that financial markets were developed … enough so that exchange rate volatility does not hinder the evolution of exports. …
Persistent link: https://www.econbiz.de/10012160035