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Revisiting the Importance of Non-Tradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations

Bache, Ida Wolden; Næss, Kjersti; Sveen, Tommy - 2009

In an influential paper Engel (1999. Accounting for U.S. Real Exchange Rate Changes, Journal of Political Economy 107, 507-538) argues that essentially all the fluctuations in the real exchange rate can be attributed to fluctuations in the relative price of traded goods, and that only a small...

Persistent link: https://www.econbiz.de/10012143708

Capital controls and the real exchange rate: Do controls promote disequilibria?

Montecino, Juan Antonio - 2015

The consensus view is that capital controls can effectively lengthen the maturity composition of capital inflows and increase the independence of monetary policy but are not generally effective at reducing net inflows and influencing the real exchange rate. This paper presents empirical evidence...

Persistent link: https://www.econbiz.de/10011526698

What Determines Real Exchange Rates? The Nordic Countries

Bergvall, Anders - 2002

, relative productivity, the trade balance and terms of trade. Countries with higher productivity, trade deficits or improved …

Persistent link: https://www.econbiz.de/10010321757

Determinants of real exchange rate movements in 15 emerging market economies

Goda, Thomas; Priewe, Jan - 2019

Previous work has established that an appreciation of the real exchange rate (REER) contributes to premature deindustrialization, less productive investment and dependence on commodity booms and busts in emerging markets economies (EME). From the previous literature, it is less clear however...

Persistent link: https://www.econbiz.de/10012109599

The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates

Chinn, Menzie David - 1998

The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined …. Using sectoral output and employment data, relative prices and relative productivity levels are calculated for China … rates and relative productivity ratios, one finds a relationship for Japan, Malaysia, the Philippines. Only when augmenting …

Persistent link: https://www.econbiz.de/10013369948

Contagion and interdependence among Central European economies : The impact of common external shocks

Wälti, Sébastien - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003

This paper is about contagion and interdependence among Central European economies. It investigates the extent to which country-specific shocks spread across these countries beyond the normal channels of interdependence, taking into account common external shocks. To model such shocks, we make...

Persistent link: https://www.econbiz.de/10005858999

Why Is the Business-Cycle Behavior of Fundamentals Alike Across Exchange-Rate Regimes?

Dedola, Luca; Leduc, Sylvain - 2001

Since the adoption of flexible exchange rates, real exchange rates have been much more volatile than they were under Bretton Woods. However, the volatilities of most other macroeconomic variables have remained approximately unchanged. This poses a puzzle for standard international business cycle...

Persistent link: https://www.econbiz.de/10013369970

Export manufacture competitiveness and commodity dependence: An empirical analysis of the Dutch Disease on Argentina and Chile during the commodity price boom

Graña-Colella, Santiago; Silva Neira, Ignacio - 2024

Extensive economic literature has covered the effect of a natural resource boom on the performance of the manufacturing sector. Specifically, the Dutch Disease hypothesis establishes that increases in commodity prices should lead to a decrease in manufacturing exports, due to significant inflows...

Persistent link: https://www.econbiz.de/10014538730

Currency devaluations, distribution conflict and inflation in a post-Kaleckian open economy model

Campana, Juan Manuel - 2024

The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two existing specifications of the income share targets of workers and firms. In the model, only the target of firms is directly affected by the real exchange rate. Workers do not...

Persistent link: https://www.econbiz.de/10015051013

Exchange-rate pass-through to import prices: nonlinearities and exchange rate and inflationary regimes

Kılıç, Rehim - 2010

This paper investigates the relationship between exchange rate pass-through and exchange rate appreciations/depreciations and inflation by estimating nonlinear time series models. Motivated by theoretical and empirical results in the literature, the paper proposes new econometric models that can...

Persistent link: https://www.econbiz.de/10010273645