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Misalignment Under Different Exchange Rate Regimes : The Case of Turkey

Dagdeviren, Sengül - 2011

The paper examines misalignment of the Turkish lira between 1998 to 2008. Misalignment, specifically overvaluation has been linked to fixed exchange rate regimes. By studying the case of Turkey during this period which covers both a fixed and floating exchange rate regime, we contribute to the...

Persistent link: https://www.econbiz.de/10012713805

Escape Clauses and Targeting of the Real Exchange Rate : The Case of Nominal Exchange Rate Pegging

Gonzalez, Pablo - 2010

We consider an economy under a fixed exchange rate system, but with bounds (a minimum level or a band) on the real exchange rate. The international price of the tradable good is characterized by the continuous arrival of shocks that change its level. In a model with microfoundations, we...

Persistent link: https://www.econbiz.de/10013135111

Equilibrium Exchange Rates in Southeastern Europe, Russia, Ukraine and Turkey : Healthy or (Dutch) Diseased?

Égert, Balázs - 2007

This paper investigates the equilibrium exchange rates of three Southeastern European countries (Bulgaria, Croatia and Romania), of two CIS economies (Russia and Ukraine) and of Turkey. A systematic approach in terms of different time horizons at which the equilibrium exchange rate is assessed...

Persistent link: https://www.econbiz.de/10012778681

Inflation and hyperinflation in Venezuela (1970s-2016) : a post-Keynesian interpretation

Kulesza, Marta - 2017

This paper aims to explain the causes of rapidly increasing prices in Venezuela and establish whether the current episode can be considered to be of hyperinflationary nature from the post-Keynesian theoretical approach. The chosen approach highlights the role of distributive conflict, indexation...

Persistent link: https://www.econbiz.de/10011747158

Purchasing Power Parity : A Unit Root, Cointegration and VAR Analysis in Emerging and Advanced Countries

Loukopoulos, Georgios - 2014

The purpose of this study is to investigate the validity of the absolute version of the purchasing power parity (PPP … of PPP we apply the Augmented Dickey-Fuller, DF-GLS and KPSS tests for non-stationarity, and the Johansen procedure for … 77,39 months. Overall, unit root tests show that absolute PPP may hold, but this depends on the country and the selected …

Persistent link: https://www.econbiz.de/10013044515

Cointegrating Tests of Purchasing Power Parity Using Znz Patterned Vecm

Penm, Jack H.W - 2001

This paper consists of two parts. In the first part the sensitivity of PPP testing to the nature of the unit root tests … contradictory. PPP is consistently accepted or rejected for only four exchange rates. For the remaining ten, PPP is accepted using … second part of this paper a new test procedure for PPP is introduced. In this procedure PPP is tested in the framework of …

Persistent link: https://www.econbiz.de/10014123436

Testing Purchasing Power Parity in the Framework of Vector Error Correction Modelling - Financial and Economic Forecasting (Chapter 14)

Penm, Jack H.W; Penm, Jammie H.; Terrell, R. Deane - 2003

In this chapter, the necessary condition and the necessary and sufficient condition for purchasing power parity (PPP … the results are promising. Of the fourteen exchange rates tested, we find support for the necessary condition for PPP in … half of them. The necessary and sufficient condition for PPP is then tested using both a bootstrap procedure and an F test …

Persistent link: https://www.econbiz.de/10014097671

Real Exchanges Rates in Commodity Producing Countries : A Reappraisal

Carpantier, Jean-Francois - 2013

Commodity price booms, as those recorded in the last decade, may have a significant economic impact in small, commodity exporting, developing countries. Whether the impact on output is positive or negative is still unclear. It depends on various factors, notably on the impact that commodity...

Persistent link: https://www.econbiz.de/10013083426

The causes of persistent inflation in Nigeria

Asekunowo, Victor O. - In: CBN journal of applied statistics 7 (2016) 2, pp. 1-27

This study sought to identify the traditional and institutional inflation variables responsible for inflation phenomenon and the magnitude of the contribution of the identified variables to the rise in general price level. Secondary data on key macroeconomic variables in the economy from 1974 to...

Persistent link: https://www.econbiz.de/10011661500

Monetary policy and exchange rates : a balanced two-country cointegrated VAR model approach

Heinlein, Reinhold; Krolzig, Hans-Martin - 2013

We study the exchange rate effects of monetary policy in a balanced macroeconometric two-country model for the US and UK. In contrast to the empirical literature on the "delayed overshooting puzzle", which consistently treats the domestic and foreign countries unequally in themodelling process,...

Persistent link: https://www.econbiz.de/10010228354