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Does the nominal exchange rate regime affect the long Run properties of real exchange rates?

Dreger, Christian; Girardin, Eric - 2007

This paper examines whether the behaviour of the real exchange rate is associated with a particular regime for the nominal exchange rate, like fixed and flexible exchange rate arrangements. The analysis is based on 16 annual real exchange rates and covers a long time span, 1870-2006. Four...

Persistent link: https://www.econbiz.de/10010264984

Real convergence, capital flows, and competitiveness in Central and Eastern Europe

Belke, Ansgar; Schnabl, Gunther; Zemanek, Holger - 2009

The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...

Persistent link: https://www.econbiz.de/10010265991

Real convergence, capital flows, and competitiveness in central and Eastern Europe

Belke, Ansgar; Schnabl, Gunther; Zemanek, Holger - 2009

Persistent link: https://www.econbiz.de/10010276616

Purchasing power parity for developing and developed countries: what can we learn from non-stationary panel data models?

Drine, Imed; Rault, Christophe - 2008

The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 developed and developing countries. We find that strong...

Persistent link: https://www.econbiz.de/10010264327

Modelling Ireland's exchange rates: From EMS to EMU

Bond, Derek; Harrison, Michael J.; O'Brien, Edward J. - 2007

to 2003. It offers an overview of the theory of purchasing power parity (Ppp), focusing particularly on likely sources of …

Persistent link: https://www.econbiz.de/10010272367

Modelling Ireland’s exchange rates: from EMS to EMU

Bond, Derek; Harrison, Michael J.; O'Brien, Edward J. - 2007

to 2003. It offers an overview of the theory of purchasing power parity (PPP), focusing particularly on likely sources of …

Persistent link: https://www.econbiz.de/10011604869

Beggar Thy Neighbour: Exchange Rate Regime Misadvice from Misunderstandings of Mundell (1961)

Pope, Robin - 2007

unaddressed when economists extended Mundell (1961) via expected utility theory since this theory also ignores the impossibility … decisions. The problems can be overcome by modelling within SKAT, the Stages of Knowledge Ahead Theory. This paper points to …

Persistent link: https://www.econbiz.de/10010263183

The damage from clean floats: From an anti-inflationary monetary policy

Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007

embeds a new theory of exchange rate determination involving the uncontroversial power of fully cooperating central banks to … totally fix the exchange rate. The new model is within a broader theory that includes risk effects normally excluded, SKAT …, the Stages of Knowledge Ahead Theory. We use SKAT to analyse outliers in our experimental results, and indicate some new …

Persistent link: https://www.econbiz.de/10010274161

EMU and fiscal discipline: the end of the depreciation threat

Heinemann, Friedrich - 1998

Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...

Persistent link: https://www.econbiz.de/10010297592

Exchange-rate regime and economic growth: a review of the theoretical and empirical literature

Petreski, Marjan - 2009

The aim of this paper is to examine the theoretical and empirical arguments for the relationship between the exchange-rate regime and economic growth. As a nominal variable, the exchange rate (regime) might not affect the long-run economic growth. However, there is no unambiguous theoretical...

Persistent link: https://www.econbiz.de/10010298819