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Economic theory considers economic growth and wage costs as crucial determinants in the process of job creation. In this paper, we try to quantify the relationship that exists between these variables in Belgium. Our objective being mainly the use of the empirical model for forecasting purposes,...
Persistent link: https://www.econbiz.de/10005008068
This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main primary commodity. It investigates how structural factors like the exchange rate regime, the...
Persistent link: https://www.econbiz.de/10009493512
Commodity currency literature recently stressed the importance of commodity prices as a determinant of real exchange rates in developing countries (Cashin, Cespedes and Sahay 2004). We provide new empirical evidence on this issue by focusing on countries which are specialized in the export of...
Persistent link: https://www.econbiz.de/10008917409
In this paper, we develop a bivariate two factor-two country GARCH model of stock returns in order to investigate whether exchange rate fluctuations have a significant impact on the conditional mean, variance, and correlation of industry stock returns. Weekly data for seven industries in five...
Persistent link: https://www.econbiz.de/10004985313
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Commodity price booms, as those recorded in the last decade, may have a significant economic impact in small, commodity exporting, developing countries. Whether the impact on output is positive or negative is still unclear. It depends on various factors, notably on the impact that commodity...
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