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Home Bias, Exchange Rate Disconnect, and Optimal Exchange Rate Policy
Wang, Jian - 2015
in consumption is important to duplicate the exchange rate volatility and exchange rate disconnect documented in the data … volatility while leaving the volatility of real macroeconomic variables, such as GDP, almost untouched. The model predicts the … volatility of the real exchange rate relative to that of GDP increases with the extent of home bias. This relation is strongly …
Persistent link: https://www.econbiz.de/10012707889
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Commodity price fluctuations and unemployment in a dependent economy
Sengupta, Jonaki; Nag, Ranjanendra Narayan; Goswami, Bhaskar - In: Contemporary economics 11 (2017) 3, pp. 315-326
The interconnected issues of commodity price fluctuation, unemployment and balance of trade developments are of critical importance in times of globalization. The present paper addresses these issues in terms of a monetary dependent economy macro model that applies to a large class of emerging...
Persistent link: https://www.econbiz.de/10011760559
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Real Exchange Rate Movements and the Relative Price of Non-traded Goods
Betts, Caroline - 2008
We study the quarterly bilateral real exchange rate and the relative price of non-traded to traded goods for 1225 country pairs over 1980-2005. We show that the two variables are positively correlated, but that movements in the relative price measure are smaller than those in the real exchange...
Persistent link: https://www.econbiz.de/10012722646
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Political economic drivers of real exchange rate levels
Uğurlu, Esra Nur; Razmi, Arslan - 2022
Voluminous theoretical and empirical research shows that real exchange rate (RER) undervaluation could be conducive to economic development. Why do countries then often avoid the pursuit of policies that facilitate undervaluation or even intentionally pursue RER overvaluation? We address this...
Persistent link: https://www.econbiz.de/10013328137
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Exchange rate misalignments, growth, and institutions
Baxa, Jaromír; Paulus, Michal - 2020
In this paper, we revisit the relationship between economic growth and exchange rate misalignments, especially undervaluations. In particular, we ask which countries benefit from undervaluations at most, and whether the impact of undervaluations on growth depends on institutional quality as...
Persistent link: https://www.econbiz.de/10012261830
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Economic integration and the exchange rate regime : how damaging are currency crises?
Weber, Axel A.; Beck, Günter W. - 2003 - This version: October 2003
volatility across emerging markets today is still significantly larger than a decade ago. …
Persistent link: https://www.econbiz.de/10009767677
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Real exchange rates and primary commodity prices
Ayres, João; Hevia, Constantino; Nicolini, Juan Pablo - 2019
volatility and persistence of primary commodity prices, and the model is shown to deliver equilibrium real exchange rates that … volatility of real exchange rates in the data. The analysis implies that existing models used to analyze real exchange rates …
Persistent link: https://www.econbiz.de/10012154653
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Real Exchange Rate Movements and the Relative Price of Non-Traded Goods
Betts, Caroline - 2017
We show that the quarterly bilateral real exchange rate for 1275 country pairs over 1980–2015 is positively correlated with the relative price of non-traded to traded goods, but that movements in the relative price measure are smaller than those in the real exchange rate. Variance...
Persistent link: https://www.econbiz.de/10012945763
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International investment positions and exchange rate dynamics
Binder, Michael; Offermanns, Christian J. - 2014
We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
Persistent link: https://www.econbiz.de/10010414236
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On the Determinants of Exchange Rate Misalignments
Saadaoui, Jamel - 2019
The literature on exchange rate misalignments is very extensive as well as the literature on exchange rate determinants. To our knowledge, however, no study has analyzed the determinants of exchange rate misalignments. As huge capital inflows have been pouring into emerging countries since the...
Persistent link: https://www.econbiz.de/10012868286