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Real Exchange Rate Dynamics in the Presence of Nontraded Goods and Transaction Costs
LEE, Inkoo; SHIN, Jonghyup - East Asian Bureau of Economic Research (EABER) - 2008
volatility of the real exchange rate. In addition, the sensitivity analysis shows that our model can rationalize more than 97% of … both persistence and volatility of the real exchange rate. Our analysis suggests that the purchasing price parity puzzle …
Persistent link: https://www.econbiz.de/10009365409
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Modeling Equilibrium Real Exchange Rates
Soto, Raimundo; Elbadawi, Ibrahim - Econometric Society - 2004
how to quantify the likely impact of misalignment on exports and long-run economic growth. Despite the substantial number …
Persistent link: https://www.econbiz.de/10005129778
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Purchasing Power Parity for Traded and Non-traded Goods: A Structural Error Correction Model Approach
Ogaki, Masao; Kim, Jaebeom - Econometric Society - 2004
When univariate methods are applied to real exchange rates, point estimates of autoregressive coefficients typically imply very slow rates of mean reversion. Rogoff (1996) discusses that the remarkable consensus of 3-5 year half-lives of purchasing power parity (PPP) deviations is found among...
Persistent link: https://www.econbiz.de/10005086417
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On the long-run determinants of real exchange rates for developing countries : Evidence from Africa, Latin America and Asia
Rault, Christophe; Drine, Imed - Econometric Society - 2004
The main goal of this paper is to tackle the empirical issues of the real exchange rate litterature by applying recently developed panel cointegration techniques to a structural long-run real exchange rate equation. We consider here a sample of 45 developing countries, divided into three groups...
Persistent link: https://www.econbiz.de/10005063741
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Purchasing Power Parity: the Choice of Price Index
Terra, Maria Cristina T.; Abreu, Ana Lucia Vahia de - Econometric Society - 2004
Looking closely at the PPP argument, it states that the currencies purchasing power should not change when comparing the same basket goods across countries, and these goods should all be tradable. Hence, if PPP is valid at all, it should be captured by the relative price indices that best fits...
Persistent link: https://www.econbiz.de/10005699577
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Mean Reversion of Real Exchange Rates and Purchasing Power Parity in Turkey
ALBA, Joseph D.; PARK, Donghyun - Econometric Society - 2004
The important concept of purchasing power parity (PPP) has a number of practical implications. Our central objective is to examine the stationarity of Turkey’s real exchange rates to test for the empirical validity of PPP. Our results from conventional univariate unit root tests fail to...
Persistent link: https://www.econbiz.de/10005702700
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Impact of Export Subsidies on Pakistan’s Exports
Haque, Nadeem Ul - East Asian Bureau of Economic Research (EABER) - 2007
Throughout Pakistans history, policy has sought to promote exports through government support and incentives. The …, over the long run, the export financing scheme had a negative effect on exports while the rebate/refund scheme affected … exports insignificantly. Subsidy schemes clearly do not seem to work, yet they have been retained for many years. …
Persistent link: https://www.econbiz.de/10009363429
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Ownership structures and R&D in Europe: the good institutional investors, the bad and ugly impatient shareholders
Brossard, Olivier; Lavigne, Stéphanie; Sakinc, Mustafa … - HAL - 2013
This study examines the relationship between ownership structures in large European companies and their innovative activity in terms of R&D spending. The analysis is performed on a sample of 324 large innovative companies over 8 years. Contrary to the view that institutional investors can have a...
Persistent link: https://www.econbiz.de/10010820798
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Understanding Innovation in Production Networks in East Asia
Wignaraja, Ganeshan - East Asian Bureau of Economic Research (EABER) - 2013
This paper explores the “black box†of innovation in the electronics production network in East Asia through a … foreign ownership and innovation in increasing the probability of exporting in electronics. Higher levels of skills, managersâ … of innovation than the research and development (R&D) to sales ratio. Accordingly, technological effort in electronics in …
Persistent link: https://www.econbiz.de/10011277999
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Do Exporting Firms in the People’s Republic of China Innovate?
Wignaraja, Ganeshan - East Asian Bureau of Economic Research (EABER) - 2012
innovation was important, there has been little research on opening up the black box of technology at firm-level in the PRC. This … paper undertakes econometric analysis of innovation, learning, and exporting in automobiles and electronics firms in the PRC … using a large-scale dataset to identify the most appropriate innovation proxy. Drawing on recent literature on innovation …
Persistent link: https://www.econbiz.de/10011278008