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15.012 Applied Macro- and International Economics, Spring 2002
Thurow, Lester - 2002
, inflation, interest rates, exchange rates and international trade. The course is divided into five parts: The first presents the …
Persistent link: https://www.econbiz.de/10009433297
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Exchange rate pass-through in the euro area and EU countries
Ortega Eslava, Eva; Osbat, Chiara - 2020
exchange rate movements do not have an impact on inflation, as aggregate rules of thumb mask substantial heterogeneities across … counteract deviations of inflation from target, including those relating to exchange rate fluctuations. Moreover, under the … forecasting inflation. …
Persistent link: https://www.econbiz.de/10012523788
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Meese-Rogoff Redux: Micro-Based Exchange Rate Forecasting
Evans, Martin D.; Lyons, Richard K. - 2005
This paper compares the true, ex-ante forecasting performance of a micro-based model against both a standard macro model and a random walk. In contrast to existing literature, which is focused on longer horizon forecasting, we examine forecasting over horizons from one day to one month (the...
Persistent link: https://www.econbiz.de/10009440722
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Exchange rate volatility, monetary policy adjustment & price hysteresis
Adam, Christopher M. - 1991
Nominal exchange rate volatility has been greater than that of "fundamentals" supposed to establish the exchange rates. A major contribution to our understanding of this volatility was given by Rudiger Dornbusch in his 1976 paper "Expectations and Exchange Rate Dynamics", where stickiness of...
Persistent link: https://www.econbiz.de/10009441733
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A test of purchasing power parity: Asia Pacific and Latin America
Ho, Catherine S. F.; Ariff, Mohamed - 2009
Finding evidence of the theoretical relationship between exchange rate and inflation has been a difficult proposition …
Persistent link: https://www.econbiz.de/10009441758
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The role of non-parity fundamentals in exchange rate determination: Australia and the Asia Pacific region
Ariff, Mohamed; Ho, Catherine S. F. - 2008
This paper extends the literature by looking at the contribution of non-parity variables after extracting the impact of parity variables on exchange rates of Australia and the Asia Pacific countries. Exchange rates are examined using high- and low-frequency multi-country panel time series data...
Persistent link: https://www.econbiz.de/10009441762
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Exchange Rate Volatility and Regime Change:Visegrad Comparison
Kocenda, Evžen; Valachy, Juraj - 2006
We analyze exchange rate volatility in the Visegrad Four countries in the course of their abandoning tight regimes for more flexible ones. We account for path dependence, asymmetric shocks, movements in interest rates, and allow for generalized error distribution. The overall findings are that...
Persistent link: https://www.econbiz.de/10009476919
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Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks
Engelmann, Dirk; Hanousek, Jan; Kocenda, Evžen - 2004
We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates among the leading currencies is attainable. We show that a stable equilibrium can be reached in the case of two leading currencies, but not in the case of three. In our model,...
Persistent link: https://www.econbiz.de/10009477062
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Wall Street Journal Position on Exchange Rates
McCallum, Bennett T.
inflation rates should be kept low?close to zero when correctly measured?and that inflation rates are determined primarily by …-zero inflation, together with an assignment of inflation responsibility to monetary policy. Thus the Wall Street Journal (henceforth …, WSJ) positions on inflation and market regulations are broadly similar to those of the SOMC. …
Persistent link: https://www.econbiz.de/10009483027
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The Time Horizon of the Forward Premium Puzzle: A New Approach in Examining Classical Explanations
To, Linh - 2007
In this study, the forward premium anomaly is revisited. The bias of the forward rate in predicting the future spot rate implies the failure of Uncovered Interest Parity (UIP), the backbone of many economic models in international finance. In analyzing the classical explanations of the puzzle,...
Persistent link: https://www.econbiz.de/10009429059