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A re-examination of the link between real exchange rates and real interest rate differentials

Hoffmann, Mathias; MacDonald, Ronald - 2003

The real exchange rate - real interest rate (RERI) relationship is central to most open economy macroeconomic models. However, empirical support for the relationship, especially when cointegrationbased methods are used, is rather weak. In this paper we reinvestigate the RERI relationship using...

Persistent link: https://www.econbiz.de/10001753573

What do we know about recent exchange rate models? : In-sample fit and out-of-sample performance evaluated

Cheung, Yin-Wong; Chinn, Menzie David; Garcia Pascual, … - 2003

Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970's vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...

Persistent link: https://www.econbiz.de/10001753593

Hong Kong output dynamics : an empirical analysis

Cheung, Yin-Wong - 2001

Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found …

Persistent link: https://www.econbiz.de/10001590657

Significance of development stage theory for explaining industrial growth pattern between Asian NICs and selected advanced economics [economies]

Nam, Chang-woon - 2002

like Japan, West Germany and the US. …

Persistent link: https://www.econbiz.de/10001652953

Vertical product differentiation and the import demand function : theory and evidence

Malley, James R.; Moutos, Thomas - 2000

hypotheses in the data for Germany, Japan and the United States. …

Persistent link: https://www.econbiz.de/10001564519

International and intranational risk sharing

Crucini, Mario J.; Hess, Gregory D. - 1999

Japan and Canada. Second, following the work by Crucini (1998), we estimate an econometric specification which allows us to …

Persistent link: https://www.econbiz.de/10001452109

Economic growth and endogenous fiscal policy : in search of a data consistent general equilibrium model

Malley, James R.; Philippopulos, Apostolēs - 2000

explaining the interaction between private agents and fiscal authorities in the U.S., West Germany, Japan and the U.K. over the … is necessary to formally test the models ̕theoretical restrictions. In West Germany and Japan there is evidence that the …

Persistent link: https://www.econbiz.de/10001452355

Does institutional change really matter? : Inflation targets, central bank reform and interest rate policy in the OECD countries

Muscatelli, V. Anton; Tirelli, Patrizio; Trecroci, Carmine - 2000

, especially in the USA and Japan. In contrast with popular wisdom, it is only since the 1990s that policies in these countries …

Persistent link: https://www.econbiz.de/10001477148

Japan's imbalance of payments

Müller-Plantenberg, Nikolas - 2003

During the past three decades, Japan's current account experienced five large swings. The yen appreciated considerably … in periods when the current account boomed, and it depreciated whenever Japan's external performance weakened. However … regularities. It argues that as a result of the large movements of the current account, the flows of cash between Japan and ist …

Persistent link: https://www.econbiz.de/10001913499

Policy duration effect under zero interest rates : an application of wavelet analysis

Okina, Kunio; Shiratsuka, Shigenori - 2004

A major feature of recent monetary policy in Japan has been heavy reliance on the so-called policy duration effect …

Persistent link: https://www.econbiz.de/10001958463