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Real Convergence, Price Level Convergence and Inflation Differentials in Europe

Egert, Balazs - 2007

This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-marketbased service, house...

Persistent link: https://www.econbiz.de/10009477386

Exploring the Robustness of the Balance of Payments- Constrained Growth Idea in a Multiple Good Framework

Razmi, Arslan - 2009

that incorporates ex- portables, importables, and non-tradables. The conditions under which the canonical form of the BPCG … rate can be derived are made explicit and the assumptions scrutinized. It is shown that the presence of non- tradables …

Persistent link: https://www.econbiz.de/10009468016

A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs

GOSWAMI, GAUTAM; SHRIKHANDE, MILIND; WU, LIUREN - 2002

We study the behavior of real exchange rates in a two-country dynamic equilibrium model. In this model, consumers can only consume domestic goods but can invest costlessly in capital stocks of both countries. Nevertheless, transporting goods between the two countries is costly and, hence, the...

Persistent link: https://www.econbiz.de/10009440709

Real Exchange Rates Over the Past Two Centuries: How Important is the Harrod-Balassa-Samuelson Effect?

Lothian, James R.; Taylor, Mark P. - 2003

Using long-span data on the dollar-sterling and dollar-franc real exchange rates over the past two centuries, we apply the findings of various strands of the recent literature in order to examine the statistical and economic significance of the Harrod-Balassa-Samuelson effect (the effect of...

Persistent link: https://www.econbiz.de/10009440727

Impact of general purchasing power accounting on Greek accounts

Baralexis, Spyridon K. - 1989

This Study addressed the inflation accountingproblem with respect to Greece. This problem had been unaddressed despite the serious implications it may have on micro- and macro-decision making due to the high andpersistent inflation Greece has sustained from 1973 and afterwards.To accomplish the...

Persistent link: https://www.econbiz.de/10009465869

Confidence Intervals for Half-Life Deviations From Purchasing Power Parity

Rossi, Barbara - 2005

According to the Purchasing Power Parity {(PPP)} theory, real exchange rate fluctuations are mainly caused by … transitory shocks. The theory fits well one empirical feature of the data, namely the short-run volatility of real exchange rates …, the results show that the data are not inconsistent with the {PPP} theory, although we cannot provide conclusive evidence …

Persistent link: https://www.econbiz.de/10009475495

Price, Output, and Exchange Rate Movements in the Open Economy

Kimbrough, K. P. - 1983

Since the advent of managed floating it has come to be accepted as a stylized fact that short-run deviations from purchasing power parity are both substantial and persistent. Two explanations of these deviations have been advanced in the literature. One emphasizes the role of changes in...

Persistent link: https://www.econbiz.de/10009475591

Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues

Égert, Balázs; Halpern, László; MacDonald, Ronald - 2005

In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss how...

Persistent link: https://www.econbiz.de/10009477512

Real exchange rates in latin america: The ppp hypothesis and fractional integration

Caporale, GM - 2008

This paper tests for PPP in a group of seventeen Latin American (LA) countries by applying fractional integration techniques to real exchange rate series. Compared to earlier studies on these economies, this approach has the advantage of allowing for non-integer values for the degree of...

Persistent link: https://www.econbiz.de/10009481424

Output and productivity performance of Hong Kong and Singapore?s transport and communications sector, 1990 to 2005

Lee, Boon L.; Shepherd, William - 2009

This paper uses the industry of origin approach to analyze value added and labor productivity outcomes arising from progressive liberalization of government and from statutory board control of transport and communications in Singapore. The paper compares these outcomes with those from the...

Persistent link: https://www.econbiz.de/10009483233