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ABSTRACT The paper has provided theoretical extensions to the computations of nominal effective exchange rate and the … real effective exchange rate over time. The extension took cognizance of the common base currency (USD) to which all …
Persistent link: https://www.econbiz.de/10011111407
We characterize the restrictions imposed by the minimal I(2)-to-I(1) transformation that underlies much applied work, e.g. on money demand relationships or open-economy pricing relationships. The relationship between the parameters of the original I(2) vector autoregression, including the...
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hence allowing for a rigorous understanding of nominal rigidity. This has led to a shift away from perfect competition in …
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. Errors of the second type increase the real effects of monetary shocks, by reducing the correlation between the value of …
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as exceptionally low inflation and substantial fluctuations in nominal and real uncertainty, is used to study the …. Results obtained suggest that expected inflation, nominal and real uncertainty account for most of the secular and cyclical …
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as exceptionally low inflation and substantial fluctuations in nominal and real uncertainty, is used to study the …. Results obtained suggest that expected inflation, nominal and real uncertainty account for most of the secular and cyclical …
Persistent link: https://www.econbiz.de/10011508096