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Are speculative attacks triggered by sunspots? : A new test

Tarashev, Nikola A. - 2004

Persistent link: https://www.econbiz.de/10002572945

Imperfect exchange rate passthrough : strategic pricing and menu costs

Ghosh, Atish R.; Wolf, Holger C. - 2001

A large body of literature finds that exporters do not pass nominal exchange rate movements fully through to destination market prices over short time horizons. This imperfect passthrough has been widely attributed to strategic pricing-to-market , whereby exporters deliberately accept changes in...

Persistent link: https://www.econbiz.de/10011398066

International shocks and domestic prices : how large are strategic complementarities?

Amiti, Mari; Itskhoki, Oleg; Konings, Jozef - 2016

How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical … evidence of strategic complementarities, with a typical firm adjusting its price with an elasticity of 35% in response to the … substantial heterogeneity in these elasticities across firms, with small firms showing no strategic complementarities and a …

Persistent link: https://www.econbiz.de/10011584149

The effects of government spending on real exchange rates : evidence from military spending panel data

Miyamoto, Wataru; Sheremirov, Viacheslav; Nguyen, Thuy Lan - 2016 - This version: October 2016

Using panel data on military spending for 125 countries, we document new facts about the effects of changes in government purchases on the real exchange rate, consumption, and current accounts in both advanced and developing countries. While an increase in government purchases causes real...

Persistent link: https://www.econbiz.de/10011562952

An eclectic approach to real exchange rate determination

Cerveró, Susana G. - 1999

We present a model of bilateral real exchange rate determination based on different theories that can be combined into a common statistical framework. Although eclectic, the approach is successfully used to shape a final specification which performs surprisingly well when out of sample exercises...

Persistent link: https://www.econbiz.de/10010504315

Monetary policy and real exchange rate dynamics in sticky-price models

Carvalho, Carlos Viana de; Nechio, Fernanda - 2015

We study how real exchange rate dynamics are affected by monetary policy in dynamic, stochastic, general equilibrium, sticky-price models. Our analytical and quantitative results show that the source of interest rate persistence - policy inertia or persistent policy shocks - is key. When the...

Persistent link: https://www.econbiz.de/10010402080

Market linkages, variance spillovers and correlation stability : empirical evidence of financial contagion

Billio, Monica; Caporin, Massimiliano - 2007

We propose a simultaneous equation system with GARCH errors to model the contemporaneous relations among Asian and American stock markets. On the estimated residuals, we evaluate the correlation matrix over rolling windows and introduce a correlation matrix distance, which allows both a...

Persistent link: https://www.econbiz.de/10003912121

The role of asymmetry and uncertainties in the capital flows- Economic Growth Nexus

Raheem, Ibrahim Dolapo; Le Roux, Sara; Asongu, Simplice - 2019

This study examines the asymmetry between capital flows and economic growth in 42 countries for the period 1990-2017. It further argues that uncertainty is an important channel through which asymmetry operates. As such, the three measures of uncertainty are macroeconomic, fiscal and...

Persistent link: https://www.econbiz.de/10012058445

A reappraisal of the inflation-unemployment tradeoff

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...

Persistent link: https://www.econbiz.de/10011414902

On the response of economic aggregates to monetary policy shocks

Jehan, Zainab; Rashid, Abdul - 2011

This study empirically investigates how shocks to monetary policy measures (short-term nominal interest rate and broad money supply) affect economic aggregates: output growth, price levels and nominal exchange rate. The study is carried out for Pakistan using quarterly data covering the period...

Persistent link: https://www.econbiz.de/10011524836