Showing 1 - 10 of 527
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
adjustment process around PPP. By contrast, we combine these two explanations in the context of an innovative panel estimation …
Persistent link: https://www.econbiz.de/10013134541
We reappraise the relationship between productivity and equilibrium real exchange rates using a panel estimation …
Persistent link: https://www.econbiz.de/10012764033
This paper focuses on the role of real exchange rate volatility as a driver of portfolio home bias, and in particular as an explanation for differences in home bias across financial assets. We present a Markowitz-type portfolio selection model in which real exchange rate volatility induces a...
Persistent link: https://www.econbiz.de/10011604731
did not contribute to its exorbitant privilege. The econometric panel analysis also fails to find a robust positive …
Persistent link: https://www.econbiz.de/10011605204
We reappraise the relationship between productivity and equilibrium real exchange rates using a panel estimation …
Persistent link: https://www.econbiz.de/10011605092
adjustment process around PPP. By contrast, we combine these two explanations in the context of an innovative panel estimation …
Persistent link: https://www.econbiz.de/10011605119
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/10011604869
This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro area countries and assesses whether their responses to...
Persistent link: https://www.econbiz.de/10013130602
This paper studies the influence of aggregating across space when (i) testing the PPP theory or more generally pair-wise cointegration and (ii) evaluating the PPP puzzle. Our contribution is threefold: we show that aggregating foreign data and applying an ADF test may lead to erroneously reject...
Persistent link: https://www.econbiz.de/10013035746