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Currency Valuation and Purchasing Power Parity
Haidar, Jamal Ibrahim - 2011
This paper aims to highlight key limitations of “The Economist” magazine's Big Mac Index (BMI). The Economist markets the BMI as a tool to determine valuation of currencies. This paper shows that the BMI is a misleading measure of currency valuation for economies whose markets are...
Persistent link: https://www.econbiz.de/10013123852
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Global Value Chains and Effective Exchange Rates at the Country-Sector Level
Patel, Nikhil - 2017
The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...
Persistent link: https://www.econbiz.de/10012956518
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Chapter 10. External Adjustment, Global Imbalances, Valuation Effects
Gourinchas, Pierre-Olivier; Rey, Hélène - In: Handbook of international economics : Volume 4, (pp. 585-645). 2014
We provide an overview of the recent developments of the literature on the determinants of long-term capital flows, global imbalances, and valuation effects. We present the main stylized facts of the new international financial landscape in which external balance sheets of countries have grown...
Persistent link: https://www.econbiz.de/10014025376
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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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Global value chains and effective exchange rates at the country-sector level
Patel, Nikhil; Wang, Zhi; Wei, Shang-jin - 2017
The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...
Persistent link: https://www.econbiz.de/10011772161
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International R&D Spillovers and Asset Prices
Gavazzoni, Federico; Santacreu, Ana Maria - 2022
We study the international propagation of long-run risk in the context of a general equilibrium model with endogenous growth. Innovation and international diffusion of technologies are the channels at the core of our mechanism. A calibrated version of the model matches several asset pricing and...
Persistent link: https://www.econbiz.de/10013405369
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Capital inflows and the real exchange rate : analytical framework and econometric evidence
Agénor, Pierre-Richard - In: Managing capital flows and exchange rates : …, (pp. 101-146). 1998
Persistent link: https://www.econbiz.de/10001303613
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Capital Inflows and the Real Exchange Rate : Analytical Framework and Econometric Evidence
Agénor, Pierre-Richard - 1996
, money base velocity, and the temporary component of the real exchange rate (TCRER) is estimated for Korea, Mexico, the … Philippines, and Thailand. TCRER movements are associated only weakly with shocks to capital flows. Negative shocks to U ….S. interest rates lead to capital inflows in Asia and a TCRER appreciation in the Philippines and Thailand. Positive shocks to …
Persistent link: https://www.econbiz.de/10014398353
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Capital inflows and the real exchange rate : analytical framework and econometric evidence
Agénor, Pierre-Richard - 1996
Persistent link: https://www.econbiz.de/10000957922
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Capital Inflows and the Real Exchange Rate : Analytical Framework and Econometric Evidence
Agénor, Pierre-Richard - 2006
, money base velocity, and the temporary component of the real exchange rate (TCRER) is estimated for Korea, Mexico, the … Philippines, and Thailand. TCRER movements are associated only weakly with shocks to capital flows. Negative shocks to U ….S. interest rates lead to capital inflows in Asia and a TCRER appreciation in the Philippines and Thailand. Positive shocks to …
Persistent link: https://www.econbiz.de/10012781975