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Time-varying dynamics of the real exchange rate : a structural VAR analysis
Mumtaz, Haroon; Sunder-Plassmann, Laura - 2010
United Kingdom, euro area and Japan and after the mid-1990s for Canada. Nominal shocks had a larger impact on output and …
Persistent link: https://www.econbiz.de/10003940278
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Accounting for the Source of Exchange Rate Movements : New Evidence
Farrant, Katie; Peersman, Gert - 2005
Kingdom, euro area, Japan and Canada versus the United States. A new identification strategy is proposed building on sign …
Persistent link: https://www.econbiz.de/10014061901
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A new measure of the Canadian effective exchange rate
Barnett, Russell; Charbonneau, Karyne; Poulin-Bellisle, … - 2016
Canada's international competitiveness has received increasing attention in recent years as exports have fallen short … of expectations and Canada has lost market share. This paper asks whether the Bank of Canada's current effective exchange … rate measure, the CERI, is still an accurate measure of Canada's international competitiveness. Overall, while the CERI …
Persistent link: https://www.econbiz.de/10011414603
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Deviations of Exchange Rates from Purchasing Power Parity : A Story Featuring Two Monetary Unions
Bayoumi, Tamim - 2006
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear...
Persistent link: https://www.econbiz.de/10012782287
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Paper Pushers or Paper Money? Empirical Assessment of Fiscal and Monetary Models of Exchange Rate Determination
Chinn, Menzie David - 1998
This paper documents the evidence in support of fiscal and monetary exchange rates for the Canadian dollar, Deutschemark, Yen, and Pound over the 1974-1993 period. Cointegrating relationships between the real exchange rate and (i) fiscal impulses and (ii) productivity and government spending are...
Persistent link: https://www.econbiz.de/10014116846
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Nominal convergence
Iancu, Aurel - 2009
After presenting the institutional construction during the pre-accession and post-accession to the Economic and Monetary Union (EMU), the exchange rate mechanisms (ERM) in several countries and the convergence criteria, we go on with a brief analysis of the way the CEE countries cope with the...
Persistent link: https://www.econbiz.de/10010529098
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Real effective exchange rate imbalances and macroeconomic adjustments : evidence from the CEMAC zone
Asongu, Simplice A. - 2014
We assess the behavior of real effective exchange rates (REERs) of members of the CEMAC zone with respect to their long-term equilibrium paths. A reduced form of the fundamental equilibrium exchange rate (FEER) model is estimated and associated misalignments are derived for the period 1980 to...
Persistent link: https://www.econbiz.de/10011409240
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Real Exchange Rate Volatility : Does the Nominal Exchange Rate Regime Matter?
Liang, Hong - 2006
A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as...
Persistent link: https://www.econbiz.de/10012782130
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The Renminbi Central Parity : An Empirical Investigation
Cheung, Yin-Wong - 2018
On August 11, 2015, China revamped its procedure for setting the official central parity of the renminbi (RMB) against the US dollar. Our empirical investigation suggests that the intertemporal dynamics of China's central parity shifted after this policy change, though the deviation of the RMB...
Persistent link: https://www.econbiz.de/10012935986
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Global Imbalances : Should We Use Fundamental Equilibrium Exchange Rates?
Saadaoui, Jamel - 2017
The reduction of global imbalances observed during the climax of crisis is incomplete. In this context, currencies' realignments are still proposed to ensure global macroeconomic stability. These realignments are based on equilibrium rates derived from equilibrium exchange rate models. Among...
Persistent link: https://www.econbiz.de/10012943656