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Determinants of Trade Balance in West African Economic and Monetary Union (WAEMU) : evidence from heterogeneous panel analysis
Keho, Yaya - In: Cogent economics & finance 9 (2021) 1, pp. 1-16
This study investigates the determinants of the trade balance in West African and Monetary Union (WAEMU) over the period 1975-2017. We employ the Mean Group (MG) estimator along with the grouped mean version of Dynamic OLS (DOLS) and Fully Modified OLS (FMOLS) to deal with both endogeneity and...
Persistent link: https://www.econbiz.de/10013184391
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How equilibrium exchange rate misalignments influence on economic growth? : evidence for European countries
Ramos-Herrera, María del Carmen - In: Economics : the open-access, open-assessment journal 16 (2022) 1, pp. 199-211
impact of deviations from the long-run sustainable real exchange rate equilibrium on real economic growth rate applying panel …
Persistent link: https://www.econbiz.de/10013252580
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Energy prices and the real exchange rate of commodity-exporting countries
Dauvin, Magali - 2013
1980-2011. Estimating a panel cointegrating relationship between the real exchange rate and its fundamentals, we provide … evidence for the existence of "energy currencies". Relying on the estimation of panel smooth transition regression (PSTR …
Persistent link: https://www.econbiz.de/10010225994
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A consistent set of multilateral productivity approach-based indicators of price competitiveness
Fischer, Christoph; Hossfeld, Oliver - 2014
We propose a novel, multilaterally consistent productivity approach-based indicator to assess the international price competitiveness of 57 industrialized and emerging economies. It is designed to be a useful assessment tool for monetary policy authorities and, thereby, differs from previously...
Persistent link: https://www.econbiz.de/10010373688
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Equilibrium real effective exchange rates and real exchange rate misalignments : time series vs. panel estimates
Hossfeld, Oliver - 2010
panel cointegration techniques to derive fully countryspecific measures of misalignment and measures based on panel … effective exchange rates and currency misalignments for the US and its 16 major trading partners. We apply cointegration and …-of-sample performance prior to comparing it to two final panel specifications. Robustness of the results is supported by recently introduced …
Persistent link: https://www.econbiz.de/10011374380
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The monetary exchange rate model as a long-run phenomenon
Groen, Jan J. J. - 1998
with the underlyingtheory. Based on a panel version of the Engle and Granger (1987) two-stepprocedure we find that the … residuals of our pooled estimated modelare stationary. This indicates that on a pooled time series levelthere is cointegration …
Persistent link: https://www.econbiz.de/10011299983
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Boosting carry with equilibrium exchange rate estimates
Rubaszek, Michał; Beckmann, Joscha; Ca'Zorzi, Michele; … - 2022
We build currency portfolios based on the paradigm that exchange rates slowly converge to their equilibrium to highlight three results. First, this property can be exploited to build profitable portfolios. Second, the slow pace of convergence at short-horizons is consistent with the evidence of...
Persistent link: https://www.econbiz.de/10013375145
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Global Imbalances : Should We Use Fundamental Equilibrium Exchange Rates?
Saadaoui, Jamel - 2017
element of long run predictive value and should not be used to reduce global imbalances. This paper provides panel empirical …
Persistent link: https://www.econbiz.de/10012943656
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International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries
Rault, Christophe; Hadj Amor, Thouraya; Caporale, … - 2009
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...
Persistent link: https://www.econbiz.de/10014202609
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International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries : Some Panel Evidence
Caporale, Guglielmo Maria - 2009
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...
Persistent link: https://www.econbiz.de/10013155428