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The Impacts of the Dollar-Renminbi Exchange Rate Misalignment on the China-United States Commodity Trade : An Asymmetric Analysis

Ferjani, Sabrine; Saafi, Sami; Nouira, Ridha; Rault, … - 2022

Contrary to most existing studies of the literature that assumed that the effects of real exchange rate (RE) misalignment on trade flows are symmetric, this paper considers a more general and realistic framework allowing for possible asymmetric effects. We use monthly time-series data over the...

Persistent link: https://www.econbiz.de/10013291707

Nonlinearities and Asymmetric Adjustment to PPP in an Exchange Rate Model with Inflation Expectations

Anderl, Christina; Caporale, Guglielmo Maria - 2021

This paper estimates a model of the real exchange rate including standard fundamentals as well as two alternative measures of inflation expectations for five inflation targeting countries (UK, Canada, Australia, New Zealand, Sweden) over the period January 1993-July 2019. Both a benchmark linear...

Persistent link: https://www.econbiz.de/10013243236

An Equilibrium Theory of Nominal Exchange Rates

Hagedorn, Marcus - 2021

This paper proposes an equilibrium theory of nominal exchange rates, which offers a new perspective on various issues … features of this theory are that the nominal exchange rate is determined in international financial markets, that the risk … from the nominal exchange rate. In terms of policy, this novel theory implies that a country with an exchange rate peg and …

Persistent link: https://www.econbiz.de/10013212261

Exchange Rate Parities and Taylor Rule Deviations

Anderl, Christina; Caporale, Guglielmo Maria - 2021

This paper investigates the PPP and UIP conditions by taking into account possible nonlinearities as well as the role of Taylor rule deviations under alternative monetary policy frameworks. The analysis is conducted using monthly data from January 1993 to December 2020 for five...

Persistent link: https://www.econbiz.de/10013236279

Optimal Policy Under Dollar Pricing

Egorov, Konstantin - 2020

rest of the world. International cooperation benefits other countries by improving global demand for dollar-invoiced goods …

Persistent link: https://www.econbiz.de/10012834360

Lending Cycles and Real Outcomes : Costs of Political Misalignment

Bircan, Cagatay; Saka, Orkun - 2021

We document a strong political cycle in bank credit and industry outcomes in Turkey. In line with theories of tactical redistribution, state-owned banks systematically adjust their lending around local elections compared with private banks in the same province based on electoral competition and...

Persistent link: https://www.econbiz.de/10013246909

Political Risk and Real Exchange Rate : What Can We Learn from Recent Developments in Panel Data Econometrics for Emerging and Developing Countries?

Bahmani‐Oskooee, Mohsen - 2019

Cross- Sectionally Augmented ARDL approach of Chudik and Pesaran (2015b), and the panel threshold estimation of Chudik et al …

Persistent link: https://www.econbiz.de/10012892145

Exchange Rate Elasticities of International Tourism and the Role of Dominant Currency Pricing

Ding, Ding; Timmer, Yannick - 2022

We estimate exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange rate, the exchange rate between the tourism origin country vis-à-vis the U.S. dollar is an important driver of tourism flows, indicating a strong role of U.S. dollar pricing. The...

Persistent link: https://www.econbiz.de/10014083483

Currency Concentration in Sovereign Debt, Exchange Rate Cyclicality, and Volatility in Consumption

Fujii, Eiji - 2022

For emerging economies, borrowing abroad is a double-edged sword: it can buffer against adverse economic shocks and smooth their domestic consumption; however, it can also amplify volatility in consumption, depending on the currency in which the debt is denominated and cyclicality in the...

Persistent link: https://www.econbiz.de/10014241998

Bitcoin Price Co-Movements and Culture

Caporale, Guglielmo Maria - 2020

-movements and exchange shutdowns in 34 major countries around the world over the period 20 July 2010 – 5 February 2020. Under the …

Persistent link: https://www.econbiz.de/10012841932