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Exchange rate misalignments and the external balance under a pegged currency system
Gnimassoun, Blaise - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2015
This paper analyzes the link between the exchange rate misalignments and the external balance under a pegged currency system focusing on the CFA zone. Having discussed and chosen an appropriate analytical framework, it addresses the issue of model uncertainty regarding the equilibrium exchange...
Persistent link: https://www.econbiz.de/10011240798
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Disorderly adjustments to exchange rate misalignments: The experience of Korea
Kinkyo, Takuji - Department of Economics, School of Oriental and African … - 2004
This paper analyzes Korea’s exchange rate dynamics before and during the crisis of 1997-98 by estimating the long-run fundamental exchange rate and the associated error correction model. The analysis suggests that although Korea’s exchange rate was substantially overvalued before...
Persistent link: https://www.econbiz.de/10011142307
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Exchange Rate Misalignments, Fiscal Federalism and Redistribution: How to Adjust in a Monetary Union
Duwicquet, Vincent; Mazier, Jacques; Saadaoui, Jamel - Volkswirtschaftliche Fakultät, … - 2012
The euro zone crisis illustrates the insufficiency of adjustment mechanisms in a monetary union characterized by a large heterogeneity. Exchange rate adjustments being impossible, they are very few alternative mechanisms. This situation reflects a simple diagnosis. At the level of the whole euro...
Persistent link: https://www.econbiz.de/10011257911
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Real exchange rate misalignments and economic growth in Tunisia : new evidence from a threshold analysis of asymmetric adjustments
Hadj Amor, Thouraya; Nouira, Ridha; Rault, Christophe; … - In: The quarterly review of economics and finance : journal … 88 (2023), pp. 215-227
Persistent link: https://www.econbiz.de/10014428041
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Exchange rate misalignments and economic growth: A threshold panel approach
Aflouk, Nabil; Mazier, Jacques - In: Economics Bulletin 33 (2013) 2, pp. 1333-1347
This study deals with the link between exchange rate misalignments (ERM) and economic growth, for a large sample of … approach. The relation "misalignments-growth" is estimated using a PSTR (Panel Smooth Transition Regression) and GMM models …. Our main results show that the impact of ERM on economic growth is nonlinear and asymmetric. An overvaluation has a …
Persistent link: https://www.econbiz.de/10010664036
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Optimal public investment, growth, and consumption: Evidence from African countries
Kwasi Fosu, Augustin; Getachew, Yoseph Yilma; Ziesemer, … - United Nations University-Maastricht Economic Research … - 2011
How much does public capital matter for economic growth? How large should it be? This paper attempts to answer these … public investment and growth, to determine the growth-maximizing public investment GDP share. It empirically also accounts … maximizes consumption. This is estimated to be between 8.4 percent and 11.0 percent. The results from estimating the growth …
Persistent link: https://www.econbiz.de/10010856371
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Optimal public investment, growth, and consumption: Evidence from African countries
Kwasi Fosu, Augustin; Getachew, Yoseph Yilma; Ziesemer, … - United Nations University, Maastricht Economic and … - 2011
How much does public capital matter for economic growth? How large should it be? This paper attempts to answer these … public investment and growth, to determine the growth-maximizing public investment GDP share. It empirically also accounts … maximizes consumption. This is estimated to be between 8.4 percent and 11.0 percent. The results from estimating the growth …
Persistent link: https://www.econbiz.de/10009322999
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Productivity and the ('synthetic') euro-dollar exchange rate
Schnatz, Bernd; Vijselaar, Focco; Osbat, Chiara - 2003
This paper analyses the impact of productivity developments in the United States and the euro area on the euro-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the biases implicit in readily available relative ALP...
Persistent link: https://www.econbiz.de/10011604271
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A panel data investigation of real exchange rate misalignment and growth
MacDonald, Ronald; Vieira, Flávio - 2010
The paper investigates the role of real exchange rate misalignment on long-run growth for a set of ninety countries …-step System GMM panel growth models indicate that the coefficients for real exchange rate misalignment are positive for different …-run growth. The estimated coefficients are higher for developing and emerging countries. …
Persistent link: https://www.econbiz.de/10010270496
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Productivity and the ('synthetic') euro-dollar exchange rate
Schnatz, Bernd; Vijselaar, Focco; Osbat, Chiara - 2003
This paper analyses the impact of productivity developments in the United States and the euro area on the euro-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the biases implicit in readily available relative ALP...
Persistent link: https://www.econbiz.de/10009639842