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Productivity and the ('synthetic') euro-dollar exchange rate
Schnatz, Bernd; Vijselaar, Focco; Osbat, Chiara - 2003
This paper analyses the impact of productivity developments in the United States and the euro area on the euro-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the biases implicit in readily available relative ALP...
Persistent link: https://www.econbiz.de/10009639842
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Bayesian state-space modeling for analyzing heterogeneous network effects of US monetary policy
Hauzenberger, Niko; Pfarrhofer, Michael - 2019
Understanding disaggregate channels in the transmission of monetary policy to the real and financial sectors is of crucial importance for effectively implementing policy measures. We extend the empirical econometric literature on the role of production networks in the propagation of shocks along...
Persistent link: https://www.econbiz.de/10012126211
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Nonlinear monetary policy rules : an essay in the comparative study on Egyptian and Tunisian central banks
Baaziz, Yosra; Labidi, Moez - In: Economies : open access journal 4 (2016) 2, pp. 1-18
The purpose of this paper is to evaluate the behavior of monetary authorities in Tunisia and Egypt, in response to changes in macroeconomic variables over time based on LSTR model. In this sense, we estimate Taylor-type equations for short-term interest rate in Tunisia and Egypt using quarterly...
Persistent link: https://www.econbiz.de/10011499480
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Nonlinear relationship between exchange rate volatility and economic growth
Phiri, Andrew - 2018
economic growth in South Africa. By using data collected from 1970 to 2016 applied to a smooth transition regression (STR …) model, we are able to prove that the exchange rate-economic growth correlation is indeed nonlinear within the sampled time … volatility positively and significantly influences economic growth when growth in government spending is below 6 percent. Above …
Persistent link: https://www.econbiz.de/10011870188
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Towards the estimation of equilibrium exchange rates for CEE acceding countries
Maeso-Fernandez, Francisco; Osbat, Chiara; Schnatz, Bernd - 2004
This paper provides a discussion of methodological issues relating to the estimation of the long-run relationship between exchange rates and fundamentals for Central and Eastern European acceding countries, focusing on the so-called behavioural equilibrium exchange rate (BEER) approach. Given...
Persistent link: https://www.econbiz.de/10009639407
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Global Liquidity and Exchange Market Pressure in Emerging Market Economies
Hossfeld, Oliver - 2018
We analyse the relationship between global liquidity and exchange market pressure in 32 emerging market economies. Exchange market pressure is a measure of excess currency demand that is applicable across different exchange rate regimes as it accounts for changes in exchange rates, foreign...
Persistent link: https://www.econbiz.de/10012920744
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Exchange rate pass-through, monetary policy and real shocks : an empirical evaluation
Aguirre, Horacio A.; González Padilla, Héctor Gustavo - 2019 - This version: January 2019
sharply in recent decades in Latin America; money growth tends to be strongly associated to short-run exchange rate pass … through, with a small influence of real shocks such as terms-of-trade changes; money growth is also associated to long …
Persistent link: https://www.econbiz.de/10012020009
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International transmission of interest rates : the role of international reserves and sovereign debt
Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021
We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...
Persistent link: https://www.econbiz.de/10012504452
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Global liquidity and exchange market pressure in emerging market economies
Hossfeld, Oliver; Pramor, Marcus - 2018
We analyse the relationship between global liquidity and exchange market pressure in 32 emerging market economies. Exchange market pressure is a measure of excess currency demand that is applicable across different exchange rate regimes as it accounts for changes in exchange rates, foreign...
Persistent link: https://www.econbiz.de/10011820941
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Monetary policy, growth and employment in developing areas : a review of the literature
Junankar, Pramod N. - 2019
In this paper we review the literature on the impact that monetary policy has on growth and employment in developing … sometimes on output (GDP) levels and volatility of output. This survey of the literature on Monetary policy and growth shows … that money plays a small role in developing countries and that monetary policy is not a very important influence on growth …
Persistent link: https://www.econbiz.de/10011988624