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Monetary Integration in SADC: Assessment of Policy Coordination and Real Effective Exchange Rate Stability
Zehirun, Mulatu F.; Breitenbach, Marthinus C.; Kemegue, … - Department of Economics, Faculty of Economic and … - 2014
This paper evaluates the strength of policy coordination in Southern African Development Community (SADC) as well as … 12 SADC member states over the period 1995-2012. Correlation matrixes, dynamic pooled mean group (PMG) and mean group (MG … equilibrium misalignment analysis reveals that SADC economies are characterised by persistent overvaluation at least in the short …
Persistent link: https://www.econbiz.de/10011096984
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Exploring exchange rate based policy coordination in SADC
Zerihun, Mulatu Fekadu; Breitenbach, Marthinus C.; … - In: Studies in economics and finance 33 (2016) 4, pp. 576-594
Persistent link: https://www.econbiz.de/10011722561
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Exploring exchange rate based policy coordination in SADC
Zerihun, Mulatu Fekadu; Breitenbach, Martinus C.; … - In: Studies in Economics and Finance 33 (2016) 4, pp. 576-594
(SADC) as well as real effective exchange rate (REER) stability as a prerequisite towards sensible monetary integration. The … rates. Design/methodology/approach The quantitative analysis encompasses 12 SADC member states over the period 1995 … variables that determine REER/RER in the region. However, the exchange rate equilibrium misalignment analysis reveals that SADC …
Persistent link: https://www.econbiz.de/10015013941
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Do structural reforms always succeed? Lessons from Brazil
Arbache, Jorge Saba - 2004
In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been disappointing, as the per capita output growth has...
Persistent link: https://www.econbiz.de/10010284888
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Price and Trade Effects of Exchange Rate Fluctuations and the Design of Policy Coordinaton
Cohen, Daniel; Wyplosz, Charles - C.E.P.R. Discussion Papers - 1990
We analyze a two-country zone facing a joint inflationary shock and responding with coordinated and uncoordinated monetary and fiscal policies. We show that the standard presumption that the absence of coordination results in an excessive exchange rate appreciation of the zone with respect to...
Persistent link: https://www.econbiz.de/10005504748
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Asymmetric impact of real effective exchange rate changes on domestic output revisited: evidence from Egypt
Sharaf, Mesbah Fathy; Shahen, Abdelhalem Mahmoud - In: International Trade, Politics and Development 7 (2023) 1, pp. 2-15
Purpose This paper investigates the asymmetric impact of the real effective exchange rate (REER) on Egypt's real domestic output from 1960 to 2020. Design/methodology/approach A Nonlinear Autoregressive Distributed Lag (NARDL) model is utilized to isolate real currency depreciations from...
Persistent link: https://www.econbiz.de/10014280697
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Asymmetric impact of real effective exchange rate changes on domestic output revisited : evidence from Egypt
Sharaf, Mesbah Fathy; Shahen, Abdelhalem Mahmoud - In: International trade, politics and development 7 (2023) 1, pp. 2-15
Purpose This paper investigates the asymmetric impact of the real effective exchange rate (REER) on Egypt's real domestic output from 1960 to 2020. Design/methodology/approach A Nonlinear Autoregressive Distributed Lag (NARDL) model is utilized to isolate real currency depreciations from...
Persistent link: https://www.econbiz.de/10014285488
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EU integration and its implications for Asian economies: What we know and what not
Langhammer, Rolf J.; Schweickert, Rainer - 2006
In this paper, we analyse effects of EU integration on Asian countries. Since the early 1990s, it is especially the trade creation effect of monetary integration (so-called Rose effect) which is heavily debated in the literature. Recent papers seem to indicate that the Rose effect seems to be...
Persistent link: https://www.econbiz.de/10010277720
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EU Integration and its Implications for Asian Economies – What we Know and What Not
Langhammer, Rolf J.; Schweickert, Rainer - Institut für Weltwirtschaft (IfW) - 2006
In this paper, we analyse effects of EU integration on Asian countries. Since the early 1990s, it is especially the trade creation effect of monetary integration (so-called Rose effect) which is heavily debated in the literature. Recent papers seem to indicate that the Rose effect seems to be...
Persistent link: https://www.econbiz.de/10005755194
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Real exchange rate misalignment and economic growth: The case of Trinidad and Tobago
Conrad, Daren; Jagessar, Jaymieon - In: Economies 6 (2018) 4, pp. 1-23
Empirical studies outline developing countries' experience economic growth through an undervalued exchange rate and that exchange rate overvaluations have negative long term effects on economic growth. This paper examined the impact of exchange rate movements as well as exchange rate...
Persistent link: https://www.econbiz.de/10012009873