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Countries’ Safety and Competitiveness, and the Estimation of Current Account Misalignments
Sastre, Teresa - 2014
Current account imbalances and their sustainability are among the most debated international policy issues. Through the recently designed External Balance Assessment methodology (EBA), the IMF estimates the impact of several countries' fundamentals and policies on their current account balance,...
Persistent link: https://www.econbiz.de/10013059729
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International shocks and domestic prices : how large are strategic complementarities?
Amiti, Mari; Itskhoki, Oleg; Konings, Jozef - 2016
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...
Persistent link: https://www.econbiz.de/10011584149
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Estimating the Border Effect : Some New Evidence
Gopinath, Gita; Gourinchas, Pierre-Olivier; Hsieh, Chang-tai - 2009
To what extent do national borders and national currencies impose costs that segment markets across countries? To answer this question the authors use a dataset with product-level retail prices and wholesale costs for a large grocery chain with stores in the United States and Canada. They...
Persistent link: https://www.econbiz.de/10014203911
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International shocks and domestic prices: How large are strategic complementarities?
Amiti, Mari; Itskhoki, Oleg; Konings, Jozef - 2016
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...
Persistent link: https://www.econbiz.de/10011506815
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On Cross-Country Differences in the Contribution of Nontraded Goods to Real Exchange Rate Fluctuations
Kitenge, Erick - 2020
We propose a new Quantity Dual Approach (QDA) to estimate the contribution of nontraded goods to Real Exchange Rate (RER) fluctuations. This method is immune to the bias resulting from the non-inclusion of some goods in CPI calculations and can be applied even in a stringent data environment...
Persistent link: https://www.econbiz.de/10012822790
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Real Exchange Rate Volatility and Economic Openness : Theory and Evidence
Hau, Harald - 2001
This paper relates the volatility of the trade-weighted effective real exchange rate to the degree of trade openness of an economy. The theoretical part presents an intertemporal monetary model of a small open economy with nominal rigidities. Both monetary and aggregate supply shocks are shown...
Persistent link: https://www.econbiz.de/10014130994
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The effects of government spending on real exchange rates : evidence from military spending panel data
Miyamoto, Wataru; Sheremirov, Viacheslav; Nguyen, Thuy Lan - 2016 - This version: October 2016
Using panel data on military spending for 125 countries, we document new facts about the effects of changes in government purchases on the real exchange rate, consumption, and current accounts in both advanced and developing countries. While an increase in government purchases causes real...
Persistent link: https://www.econbiz.de/10011562952
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Chapter 7. International Prices and Exchange Rates
Burstein, Ariel; Gopinath, Gita - In: Handbook of international economics : Volume 4, (pp. 391-451). 2014
We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature, we present a simple framework to interpret this evidence. We review theoretical models that...
Persistent link: https://www.econbiz.de/10014025379
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Specialization Across Varieties and North-South Competition
Fontagne, Lionel - 2014
countries at different levels of development within products and across varieties is mirrored in the recent shifts in world …
Persistent link: https://www.econbiz.de/10012751338
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Different Measures in Testing Absolute Purchasing Power Parity
Zhang, Zhibai - 2015
In popular studies, the theory of purchasing power parity (PPP) is tested for the real exchange rate (RER) that is … constructed by price indexes and all variables are logarithmic. In this paper, we test the absolute PPP theory for the RER that is … stationary and a cointegration relationship exists between nominal exchange rate and PPP rate, which supports the PPP theory. But …
Persistent link: https://www.econbiz.de/10013014222