Showing 41 - 50 of 239,183
In this paper we revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we develop a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our...
Persistent link: https://www.econbiz.de/10012753853
exchange rate regime type (both de jure and de facto) and real exchange rate volatility serving as explanatory variables. The … findings reveal that fixed exchange rate regime and high real exchange rate volatility is promoting the foreign currency …
Persistent link: https://www.econbiz.de/10012242309
This study examines the dynamic nexus betwixt oil prices, twenty-two world agricultural commodity prices and given the evolution of the relative strength of the US dollar in a panel setting. We use panel cointegration and Panel Granger causality methods for a panel of twenty-two agricultural...
Persistent link: https://www.econbiz.de/10012023904
research. The volatility is generally perceived as negatively affecting international trade. While theoretical predictions and … 2014, this paper uncovers no significant effects of exchange rate volatility on imports. In the case of exports, however …, the study finds a negative effect of volatility in the short-run, consistent with the above view, but a positive impact in …
Persistent link: https://www.econbiz.de/10011845413
financial uncertainty. …
Persistent link: https://www.econbiz.de/10012429208
This paper investigates whether the real exchange rate uncertainty depresses Thailand's exports to the United States … cointegrated, and the Marshall-Lerner condition still holds in the case of United States. Real exchange rate volatility generated … by the ARCH(1) process as a measure of uncertainty has a negative effect on exports to Japan, but has no effect on …
Persistent link: https://www.econbiz.de/10014183666
One of the most important and recurrent concept in international macroeconomics is Purchasing Power Parity (PPP) hypothesis. PPP has been used as a theory of domestic price determination under fixed exchange rate regime and a theory of exchange rate determination under flexible exchange rate...
Persistent link: https://www.econbiz.de/10014215553
This paper re-examines real exchange rate behavior of OECD currencies under the current float using the more extensive data set that an additional decade's worth of experience has made available. What emerges is a new set of stylized facts, which suggest that the problems of the current float...
Persistent link: https://www.econbiz.de/10014028729
This paper attempts to identify the sources of U.K. exchange rate and relative consumer price fluctuations between 1973 and 1994. We follow Clarida and Gali (1994) in using the Blanchard and Quah (1989) structural VAR (SVAR) method to identify the effects of three structural shocks within a...
Persistent link: https://www.econbiz.de/10014209306
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...
Persistent link: https://www.econbiz.de/10003831962