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Die Bedeutung monetärer Größen für die deutsche Wachstumsschwäche 1995 -2005

Dovern, Jonas; Jannsen, Nils; Scheide, Joachim - 2009

Between 1995 and 2005, the German economy has experienced a phase of weak economic growth. We analyze whether this weak growth performance can be attributed to the stance of monetary conditions during that period. We show that the real effective exchange rate did have almost no dampening effects...

Persistent link: https://www.econbiz.de/10010263552

Current Account Imbalances and Real Exchange Rates in the Euro Area

Arghyrou, Michael - Economics Section, Cardiff Business School - 2006

account determination in the EMU. After controlling for the effects of income growth, we find the relationship between real … determination in the EMU. …

Persistent link: https://www.econbiz.de/10005509762

Current account imbalances and real exchange rates in the Euro area

Arghyrou, Michael G.; Chortareas, Georgios - 2006

account determination in the EMU. After controlling for the effects of income growth, we find the relationship between real … determination in the EMU. …

Persistent link: https://www.econbiz.de/10010322773

Die Bedeutung monetärer Größen für die deutsche Wachstumsschwäche 1995-2005

Dovern, Jonas; Jannsen, Nils; Scheide, Joachim - Institut für Weltwirtschaft (IfW) - 2009

Persistent link: https://www.econbiz.de/10005566192

Structural Breaks in Volatility: Evidence for the OECD Real Exchange Rates

Zumaquero, Amalia Morales; Rivero, Simón Sosvilla - Centro de Estudios Andaluces, Government of Andalusia - 2005

This paper analyses whether volatility changes in the bilateral and effective real exchange rates of the OECD industrial countries are associated with a specific nominal exchange rate regime. To that end, we examine the real exchange rate behaviour during the 1960-2003 period, therefore covering...

Persistent link: https://www.econbiz.de/10005063204

Adjustment to the Asymmetric Shocks and Currency Unions: the Case of Belarus and Russia

Valery, Chernookiy - EERC Research Network, Russia and CIS - 2005

The paper analyzes mechanism of adjustment to the asymmetric shocks in terms of trade in possible currency union of Belarus and Russia. It is emphasized the role of real exchange rate in this process. An empirical analysis based on panel data confirms the asymmetric effect of fuel price changes...

Persistent link: https://www.econbiz.de/10005121389

Real exchange rates and current account imbalances in the Euro-area

Arghyrou, Michael G; Chortareas, Georgios - Money Macro and Finance Research Group - 2007

commencement of the EMU two distinct groups of member state have emerged: those with consistently improving current accounts and … the role of real exchange rates in current account determination in the EMU member countries. Monetary union participation … findings validate the theoretical arguments concerning the potential costs of EMU participation and suggest that meeting the …

Persistent link: https://www.econbiz.de/10004975711

What Determines Government Spending Multipliers?

Müller, Gernot; Meier, André; Corsetti, Giancarlo - International Monetary Fund (IMF) - 2012

This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...

Persistent link: https://www.econbiz.de/10011142087

Factors Influencing Emerging Market Central Banksâ€™ Decision to Intervene in Foreign Exchange Markets

Malloy, Matthew S - International Monetary Fund (IMF) - 2013

Using panel data for 15 economies from 2001-12, I identify determinants of central bank foreign exchange intervention in emerging markets (â€œEMsâ€) with flexible to moderately managed exchange rates. Similar to other studies, I find that central banks tend to â€œlean against the...

Persistent link: https://www.econbiz.de/10011142147

Policy Responses to Aid Surges in Countries with Limited International Capital Mobility: The Role of the Exchange Rate Regime

Berg, Andrew; Portillo, Rafael A; Zanna, Luis-Felipe - International Monetary Fund (IMF) - 2014

We study the role of the exchange rate regime, reserve accumulation, and sterilization policies in the macroeconomics of aid surges. Absent sterilization, a peg allows for almost full aid absorption â€” an increase in the current account deficit net of aidâ€”delivering the same effects...

Persistent link: https://www.econbiz.de/10011123835