Narrow search
Showing 1 - 10 of 1,393
Cover Image
Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area
Ben Cheikh, Nidhaleddine - 2015
This paper provides an update on the exchange rate pass-through (ERPT) estimates for 12 Euro area (EA) countries. First …-through elasticities, we find very weak evidence of a decline around the inception of the euro in 1999. However, our results reveal that a …
Persistent link: https://www.econbiz.de/10013022505
Cover Image
Exchange Rate Misalignment Estimates - Sources of Differences
Cheung, Yin-Wong - 2013
We study the differences of currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....
Persistent link: https://www.econbiz.de/10013092474
Cover Image
Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments
Cheung, Yin-Wong; Lai, Kon S.; Bergman, U. Michael - 2021
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...
Persistent link: https://www.econbiz.de/10013319983
Cover Image
Financial Frictions and Inflation Differentials in a Monetary Union
Hristov, Nikolay - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...
Persistent link: https://www.econbiz.de/10013136243
Cover Image
A New Two-Pillar Strategy for the ECB
De Grauwe, Paul - 2013
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10013095572
Cover Image
The Exchange Rate Susceptibility of Some European Core Industries and the Currency Union
Leuwer, David; Suessmuth, Bernd - 2021
strengthening Euro on exports and on overall order volume unclear. To quantify the impact of the EUR/USD real exchange rate on … findings indicate that an appreciating Euro hampers exports in the German and French core sectors, but does not cause these …
Persistent link: https://www.econbiz.de/10013315771
Cover Image
Real and Nominal Wage Adjustment in Open Economies
Forslund, Anders - 2013
How are wages set in an open economy? What role is played by demand pressure, international competition, and structural factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages and competitiveness? To answer these questions, we...
Persistent link: https://www.econbiz.de/10012754391
Cover Image
Capital Flows in the Euro Area and TARGET2 Balances
Hristov, Nikolay - 2018
We estimate a panel VAR model for the euro area to quantitatively asses the contribution of the TARGET2 system to the … in euro area member countries. Our results suggest that TARGET2 has significantly affected the transmission of capital ow … member states, such as Germany, the Netherlands and Finland …
Persistent link: https://www.econbiz.de/10012922834
Cover Image
The Euro and Inflation Uncertainty in the European Monetary Union
Caporale, Guglielmo Maria; Kontonikas, Alexandros - 2021
introduction of the Euro in 1999 are then examined introducing a dummy variable. Overall, it appears that post-1999 steady … determined endogenously, the adjustment is found to have taken place before the introduction of the Euro …
Persistent link: https://www.econbiz.de/10013317342
Cover Image
The Impact of Market Regulations on Intra-European Real Exchange Rates
Bénassy-Quéré, Agnès - 2013
and employment protection tend to inflate the real exchange rate. We then carry out an econometric estimation for European …-rate variations within the European Union and especially within the Euro area, through theirs impacts on the relative price of …
Persistent link: https://www.econbiz.de/10013087275