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Persistent link: https://www.econbiz.de/10010432301
The Australian dollar is known as a commodity currency because it is sensitive to fluctuations of commodity prices. Although the structure of Australian production has historically moved from the primary commodities to manufacturing and services, market expectations of the currency are still...
Persistent link: https://www.econbiz.de/10012062695
I examine the effect of exogenous terms of trade shocks on an exchange rate by turning to New Zealand's dairy auctions. Dairy is New Zealand's largest export category, making up almost 20 percent of exports. Specifically, whole milk powder accounts for 6 to 11 percent of total exports, and its...
Persistent link: https://www.econbiz.de/10013541948
example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …
Persistent link: https://www.econbiz.de/10010279899
A Real Business Cycle model of the UK is developed to account for the behaviour of UK nonstationary macro data. The model is tested by the method of indirect inference, bootstrapping the errors to generate 95% confidence limits for a VECM representation of the data; we find the model can explain...
Persistent link: https://www.econbiz.de/10010288799
example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. -- Exchange rates ; Productivity …
Persistent link: https://www.econbiz.de/10003933283
is provided by a productivity-based model of the real value of the euro. Some panel regression estimates of the … relationship between intercountry relative productivity differentials and real exchange rates is presented. Using these estimates … to conduct some calculations, one comes to the conclusion that unless drastic changes to productivity trends occur, there …
Persistent link: https://www.econbiz.de/10009583879
prices as a result of decreased trade costs. A decrease in trade costs enables lower-productivity firms to begin exporting … that low-productivity firms have more volatile markups …
Persistent link: https://www.econbiz.de/10013034900
productivity of the economy. Trends in social consumption/GDP, and in fiscal policy, reflected political regime changes in France …
Persistent link: https://www.econbiz.de/10013320946
is provided by a productivity-based model of the real value of the euro. Some panel regression estimates of the … relationship between intercountry relative productivity differentials and real exchange rates is presented. Using these estimates … to conduct some calculations, one comes to the conclusion that unless drastic changes to productivity trends occur, there …
Persistent link: https://www.econbiz.de/10014148770