This paper estimates price and income elasticities for bilateral trade equations between Sweden and her eight major trading partners for the period 1960-2001. The methodology used here is the likelihood-based panel cointegration recently developed in the literature. Evidence is found that...

A theoretical model, applied to Argentina, Chile and Mexico, shows how exogenous shocks impact on the structural real exchange rate (SRER, defined by the relative tradable to non-tradable price) and sectoral shares. First, a simulation approach designed to test how rich the theoretical model is...

As the economies of Asian have moved towards closer economic ties in recent years, the establishment of regional exchange rate arrangement has become an important regional policy concern. A study by the Asian Development Bank forecast that Asian will be the world's largest economy by 2050....

The growth of the financial sector of an economy such as, the stock market is usually found to be highly correlated with the growth of the real sector of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between the stock prices,...

In this study we examine the fundamental linkages between a single currency pair. The studied pair is the Australia Dollar and Peru Nuevo Sol from the dates 1994 to 2017. We perform a cointegration analysis and test for structural breaks at an unknown point in time. The results show that during...

The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a long-run Engle and Granger cointegrating...

The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a long-run Engle and Granger cointegrating...

The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a cointegrating relationship (between import unit...

This paper proposes a hybrid monetary model of the dollar-yen exchange rate that takes into account factors affecting the conventional monetary model’s building blocks. In particular, the hybrid monetary model is based on the incorporation of real stock prices to enhance money demand stability...

This paper examines the extent of misalignment of the real effective exchange rate (REER) of South African rand. With South Africa being an open emerging market economy closely linked with global markets, the country’s economy is susceptible to external shocks and changes in global trade...