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Fundamental determinants of exchange rate expectations

Beckmann, Joscha; Czudaj, Robert - 2020

This paper provides a new perspective on the exchange rate disconnect puzzle by referring to the expectations building mechanism in foreign exchange markets. Therefore, we analyze the role of expectations regarding macroeconomic fundamentals for expected exchange rate changes. In doing so, we...

Persistent link: https://www.econbiz.de/10012435503

Adjustment dynamics and business cycle heterogeneity in the EMU : evidence from estimated DSGE models

Giovannini, Massimo; Hohberger, Stefan; Ratto, Marco; … - 2019

The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States (DE, FR, IT, ES). We compare the response of the four countries to identical shocks and find a particularly strong response of employment and wages in ES, a high sensitivity of...

Persistent link: https://www.econbiz.de/10012268789

Economic growth and the balance-of-payments constraint : the case of the Spanish regions, 1988-2008

Bajo Rubio, Oscar; Díaz Roldán, Carmen - 2010

The balance of payments can act as a constraint to the rate of growth of output, on putting a limit to the growth in the level of demand to which supply can adapt. This effect might be even stronger for regional economies, presumably more integrated among them. In this paper, we examine this...

Persistent link: https://www.econbiz.de/10012655136

Import competition and firm productivity : evidence from German manufacturing

Braeuer, Richard; Mertens, Matthias; Slavtchev, Viktor - 2020

This study analyzes empirically the effects of import competition on firm productivity (TFPQ) using administrative firm-level panel data from German manufacturing. We find that only import competition from high-income countries is associated with positive incentives for firms to invest in...

Persistent link: https://www.econbiz.de/10012426234

The foreign exchange market with the cryptocurrency and "Kimchi Premium"

Oh, Jeong Hun - 2018

This paper explores the remarkable roles of exchange rates when a cryptocurrency is adopted and commonly used as another type of foreign currency in the international economy. First, in order to examine its movement, we describe the price of a cryptocurrency as the relative price in terms of a...

Persistent link: https://www.econbiz.de/10012005379

Identifying monetary policy and central bank information shocks using high-frequency exchange rates

Holtemöller, Oliver; Kriwoluzky, Alexander; Kwak, Boreum - 2019

This work investigates effects of conventional monetary policy and central bank information shocks from monetary policy announcements on the U.S. economy. We identify the surprises caused by changes in target rate and central bank’s private information embedded in high frequency exchange rate...

Persistent link: https://www.econbiz.de/10012304714

Agglomeration and exports with heterogeneous firms : evidence from Chinese firm-level and county-level data

Sun, Churen; Yu, Zhihao; Zhang, Tao - 2012 - Version July 1, 2012, preliminary

The paper proposes a model to investigate the influences of agglomeration on heterogeneous firms' exporting behaviors. In the model, firms are heterogeneous in productivity. Selection effect and agglomeration economies caused by agglomeration increase firms' productivity and decreases industrial...

Persistent link: https://www.econbiz.de/10011508161

Effects of knowledge capital on total factor productivity in China : a spatial econometric perspective

Scherngell, Thomas; Borowiecki, Martin; Hu, Yuanjia - 2013

The transformation of China into a knowledge based economy is currently one of the most intensively debated research … knowledge spillovers on manufacturing total factor productivity (TFP) in China - at the level of Chinese regions - through the … question whether TFP in China is increasingly based on knowledge production and diffusion. Relying on the regional KCM as …

Persistent link: https://www.econbiz.de/10011581772

Is there a bubble in the Chinese housing market?

Dreger, Christian; Zhang, Yanqun - 2011

For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal stimulus package and massive credit expansion, with possible adverse effects to the real economy. For example, the stock of loans increased by more than 50 percent since the end of...

Persistent link: https://www.econbiz.de/10011550681

Technological change and total factor productivity growth : evidence from China's telecommunications industry

Lin, Xuchen; Lu, Ting-jie; Chen, Xia - 2018

The fast-growing telecommunications industry in China has been experiencing dramatic technological change and … estimate productivity change, technological change, and relative efficiency change in China's telecommunications industry for …

Persistent link: https://www.econbiz.de/10012009910