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Exchange Rate Fluctuations and Labour Market Adjustments in Canadian Manufacturing Industries

Bruneau, Gabriel - 2015

We estimate the impact of exchange rate fluctuations and other external factors on hours worked and employment in Canada's manufacturing industries. The analysis is based on a dynamic model of labour demand and the econometric strategy employs a dynamic OLS approach for cointegrating...

Persistent link: https://www.econbiz.de/10013027048

Pass-Through, Vertical Contracts, and Bargains

Gaudin, Germain - 2015

This paper analyzes the determinants of pass-through that are specific to vertical relationships between wholesalers and retailers. Fluctuations in input costs (due to, e.g., exchange rate shocks) are transmitted first to the wholesale price, and then to the retail price. The type of vertical...

Persistent link: https://www.econbiz.de/10013027105

Assessing the CNH-CNY Pricing Differential : Role of Fundamentals, Contagion and Policy

Funke, Michael - 2015

Renminbi internationalisation has brought about an active offshore market where the exchange rate frequently diverges from the onshore market. Using extended GARCH models, we explore the role of fundamentals, global factors and policies related to renminbi internationalisation in driving the...

Persistent link: https://www.econbiz.de/10013027342

A New Look at Currency Investing

Pojarliev, Momtchil - 2015

The authors of this book examine the rationale for investing in currency. They highlight several features of currency returns that make currency an attractive asset class for institutional investors. Using style factors to model currency returns provides a natural way to decompose returns into...

Persistent link: https://www.econbiz.de/10013027348

The Scapegoat Theory of Exchange Rates : The First Tests

Fratzscher, Marcel - 2015

The scapegoat theory of exchange rates (Bacchetta and van Wincoop 2004, 2013) suggests that market participants may attach excessive weight to individual economic fundamentals, which are picked as scapegoats to rationalize observed currency fluctuations at times when exchange rates are driven by...

Persistent link: https://www.econbiz.de/10013027363

Currency Crises and Dynamics of Real Wages

Teimouri, Sheida - 2015

. Also, labor productivity tends to decline during crisis leading to a similar decline in real wages. Finally, currency …-2010, the author examines the dynamics of real wages and labor productivity following a large depreciation of the nominal … wages are still 10%-20% below the pre-crisis level. Labor productivity also declines. But, the decline in real wages is …

Persistent link: https://www.econbiz.de/10013027544

How are Firms Affected by Exchange Rate Shocks? Evidence from Survey Based Impulse Responses

Drechsel, Dirk - 2015

This paper studies the effects of a change in the Swiss franc/euro exchange rate floor, as introduced by the Swiss National Bank in September 2011 using a survey based impulse responses analysis. Survey based impulse responses incorporate experimental settings into representative firm surveys,...

Persistent link: https://www.econbiz.de/10013027817

Non-Linear Exchange Rate Pass-Through in Emerging Markets

Caselli, Francesca - 2016

inflation targeting regime in the transmission from exchange rate movements to prices. We perform a set of robustness checks …

Persistent link: https://www.econbiz.de/10012983957

Monetary Shocks at High-Frequency and Their Changing FX Transmission Around the Globe

Ferrari, Massimo - 2016

We show that the impact of monetary policy on exchange rates has been growing significantly in recent years. Our results are established by a high-frequency event study of how key fixed income instruments - Overnight-Index Swaps (OIS) and Bonds - respond jointly with exchange rates to news about...

Persistent link: https://www.econbiz.de/10012984040

The Behaviour of Asset Return and Volatility Spillovers in Turkey : A Tale of Two Crises

McMillan, David G. - 2016

This paper examines mean and volatility spillovers between the Turkish stock market with international stock, exchange rate and commodity markets. Our aim is not only to examine spillover behaviour with a large emerging market but also to examine cross — asset spillovers and how they vary...

Persistent link: https://www.econbiz.de/10012984077