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Exchange rates and prices : evidence from the 2015 Swiss Franc appreciation
Auer, Raphael A.; Burstein, Ariel T.; Lein-Rupprecht, … - 2018
The removal of the lower bound on the EUR/CHF exchange rate in January 2015 provides a unique setting to study the implications of a large and sudden appreciation in an otherwise stable macroeconomic environment. Using transaction-level data on non-durable goods purchases by Swiss consumers, we...
Persistent link: https://www.econbiz.de/10011900831
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Sources of euro real exchange rate fluctuations : what is behind the euro weakness in 1999 - 2000
Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - 2001
Persistent link: https://www.econbiz.de/10001584428
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Sources of euro real exchange rate fluctuations : what is behind the euro weakness in 1999-2000?
Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - 2001
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
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Money Demand Instability and Real Exchange Rate Persistence in the Monetary Model of USD-JPY Exchange Rate
Hunter, John; Menla Ali, Faek - 2014
This paper proposes a hybrid monetary model of the dollar-yen exchange rate that takes into account factors affecting the conventional monetary model’s building blocks. In particular, the hybrid monetary model is based on the incorporation of real stock prices to enhance money demand stability...
Persistent link: https://www.econbiz.de/10014039290
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Net Foreign Assets and Imperfect Pass-Through : The Consumption Real Exchange Rate Anomaly
Selaive, Jorge; Tuesta Reátegui, Vicente - 2003
An unresolved issue in international macroeconomics is the apparent lack of risk-sharing across countries, which contradicts the prediction of models based on the assumption of complete markets. We assess the importance of financial frictions in this issue by constructing an incomplete market...
Persistent link: https://www.econbiz.de/10014082523
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Real Exchange Rate Persistence and Systematic Monetary Policy Behaviour
Groen, Jan J.; Matsumoto, Akito - 2005
This paper estimates forward-looking monetary policy rules for Germany over the 1979-98 period and for the United … Kingdom for the periods 1979-90 and 1992-98. The estimation results indicate that there were substantial differences between … systematic monetary policy in Germany and in the United Kingdom, as well as shifts in systematic monetary policy in the United …
Persistent link: https://www.econbiz.de/10014066761
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Interest rates, exchange rates and world monetary policy
Floyd, John E. - 2010
Persistent link: https://www.econbiz.de/10003888281
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Interest Rates, Exchange Rates and World Monetary Policy
Floyd, John E. - 2010
U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real …
Persistent link: https://www.econbiz.de/10013521314
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Causalité persistante entre séries non-stationnaires : application à l'étude comparée des politiques monétaires des pays du G5
Bruneau, Catherine - In: Annales d'économie et de statistique (1995), pp. 177-206
Persistent link: https://www.econbiz.de/10001333815
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Sources of Euro Real Exchange Rate Fluctuations: What Is Behind the Euro Weakness in 1999-2000?
Gottschalk, Jan; Döpke, Jörg; Kamps, Christophe - 2001
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/10010260459