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Net foreign assets, real exchange rates and net exports revisited

Bleaney, Michael F.; Tian, Mo - 2013

Theory suggests a significant positive relationship in long-run equilibrium between net foreign assets (NFA) as a …

Persistent link: https://www.econbiz.de/10009792044

Explaining International Business Cycle Synchronization : Recursive Preferences and the Terms of Trade Channel

Kollmann, Robert - 2017

-specific productivity shocks generate business cycles that are highly correlated internationally. The model assumes recursive intertemporal … trade response to country-specific shocks. Hence, a productivity (and GDP) increase in a given country triggers a strong …

Persistent link: https://www.econbiz.de/10012960598

Production Interdependence and Welfare

Huang, Kevin X. D.; Liu, Zheng - 2021

The international welfare effects of a country's monetary policy shocks have been controversial in the literature. While a unilateral monetary expansion increases the production efficiency in each country, it affects terms of trade in favor of one country against another depending on the...

Persistent link: https://www.econbiz.de/10013319226

Explaining International Business Cycle Synchronization : Recursive Preferences and the Terms of Trade Channel

Kollmann, Robert - 2017

Persistent link: https://www.econbiz.de/10014121891

Terms of Trade and Exchange Rate Regimes in Developing Countries

Broda, Christian M. - 2006

Since Friedman (1953), an advantage often attributed to flexible exchange rate regimes over fixed regimes is their ability to insulate more effectively the economy against real shocks. I use a post-Bretton Woods sample (1973-96) of seventy-five developing countries to assess whether the...

Persistent link: https://www.econbiz.de/10014056753

Monetary policy choices in emerging market economies : the case of high productivity growth

Natalucci, Fabio M.; Ravenna, Federico - 2007

We develop a general equilibrium model of an emerging market economy where productivity growth differentials between …

Persistent link: https://www.econbiz.de/10003854783

Vertical Product Differentiation and Exchange Rate Pass-Through : Evidence from Trade between China and Japan

Hu, Dongmei - 2015

In this paper, we investigate the impact of vertical product differentiation on exchange rate pass-through (ERPT). We define product vertical differentiation as a spectrum of products that range from high end to low end. Using a comprehensive dataset that includes highly disaggregated products...

Persistent link: https://www.econbiz.de/10013022085

The Terms of Trade, Productivity Growth and the Current Account

Iscan, Talan - 2001

-192) to an economy with traded and nontraded goods, and it analyzes the impact of country-specific and global productivity … investment to country-specific traded productivity growth. Second, global traded productivity and country-specific nontraded … productivity growth have no effect on the current account, but they have a significant impact on investment. Third, the global …

Persistent link: https://www.econbiz.de/10014140761

Real Exchange Rate Adjustment In and Out of the Eurozone

Berka, Martin - 2013

It is often suggested that currency unions unduly inhibit the efficient adjustment of real exchange rates. Recently, this has been seen as a key failure of the Eurozone. This paper presents evidence that throws doubt on this conclusion. Our evidence suggests that real exchange rate movement...

Persistent link: https://www.econbiz.de/10013081062

Real Exchange Rates and Sectoral Productivity in the Eurozone

Berka, Martin - 2019

, incorporating sectoral productivity shocks and a labor market wedge. We construct a DSGE model to generate a cross section and time … eurozone data. Our findings contrast with previous studies that have found little relationship between productivity and real …

Persistent link: https://www.econbiz.de/10012890363