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Explaining and forecasting euro area exports: which competitiveness indicator performs best?
Ca' Zorzi, Michele; Schnatz, Bernd - 2007
and price competitiveness as each of the standard measures typically employed has its own merits and drawbacks. This calls … and price competitiveness measures of the euro area. Although they diverge sometimes, we find little evidence that there … timeliness, are good approximations of euro area price and cost competitiveness. …
Persistent link: https://www.econbiz.de/10011604879
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Measuring the effectiveness of cost and price competitiveness in external rebalancing of euro area countries: What do alternative HCIs tell us?
Christodoulopoulou, Styliani; Tkacevs, Olegs - 2014
price competitiveness in restoring external balances. It is a first attempt to compare marginal effects of various … harmonised competitiveness indicators (HCIs) on both exports and imports of both goods and services across individual euro area … of services are also found more sensitive to competitiveness indicators based on broader price measures. Imports of goods …
Persistent link: https://www.econbiz.de/10011605781
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Explaining and Forecasting Euro Area Exports : Which Competitiveness Indicator Performs Best?
Ca'Zorzi, Michele; Schnatz, Bernd - 2022
and price competitiveness as each of the standard measures typically employed has its own merits and drawbacks. This calls … and price competitiveness measures of the euro area. Although they diverge sometimes, we find little evidence that there … timeliness, are good approximations of euro area price and cost competitiveness …
Persistent link: https://www.econbiz.de/10014222682
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The Predictive Power of Equilibrium Exchange Rate Models
Ca'Zorzi, Michele - 2020
In this paper we evaluate the predictive power of the three most popular equilibrium exchange rate concepts: Purchasing Power Parity (PPP), Behavioral Equilibrium Exchange Rate (BEER) and the Macroeconomic Balance (MB) approach. We show that there is a clear trade-off between storytelling and...
Persistent link: https://www.econbiz.de/10012844460
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Modelling Ireland's Exchange Rates : From EMS to EMU
Bond, Derek - 2007
This paper attempts to model the nominal and real exchange rate for Ireland, relative to Germany and the UK from 1975 to 2003. It offers an overview of the theory of purchasing power parity (Ppp), focusing particularly on likely sources of nonlinearity. Potential difficulties in placing the...
Persistent link: https://www.econbiz.de/10012775859
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Measuring the Effectiveness of Cost and Price Competitiveness in External Rebalancing of Euro Area Countries : What Do Alternative HCIs Tell Us?
Christodoulopoulou, Styliani - 2014
price competitiveness in restoring external balances. It is a first attempt to compare marginal effects of various … harmonised competitiveness indicators (HCIs) on both exports and imports of both goods and services across individual euro area … of services are also found more sensitive to competitiveness indicators based on broader price measures. Imports of goods …
Persistent link: https://www.econbiz.de/10013047096
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The link between interest rates and exchange rates: do contractionary depreciations make a difference?
Sánchez, Marcelo - 2005
The link between exchange rates and interest rates features prominently in the theoretical and empirical literature on small open economies. This paper revisits this relationship using a simple model that incorporates the role of exchange rate pass-through into domestic prices and distinguishes...
Persistent link: https://www.econbiz.de/10011604594
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How does information affect the comovement between interest rates and exchange rates?
Sánchez, Marcelo - 2006
This paper compares the link between exchange rates and interest rates under full information and two alternative asymmetric information approaches. It also distinguishes between cases of expansionary and contractionary depreciations. Full information results are not robust to the presence of...
Persistent link: https://www.econbiz.de/10011604654
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Monetary Policy, Determinacy, and Learnability in the Open Economy
Schaling, Eric - 2006
We study how determinacy and learnability of global rational expectations equilibrium may be affected by monetary policy in a simple, two country, new Keynesian framework. The two blocks may be viewed as the U.S. and Europe, or as regions within the euro zone. We seek to understand how monetary...
Persistent link: https://www.econbiz.de/10012783743
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How Does Information Affect the Comovement between Interest Rates and Exchange Rates?
Sánchez, Marcelo - 2021
This paper compares the link between exchange rates and interest rates under full information and two alternative asymmetric information approaches. It also distinguishes between cases of expansionary and contractionary depreciations. Full information results are not robust to the presence of...
Persistent link: https://www.econbiz.de/10013317653