Showing 1 - 10 of 20
This paper tests empirically the Balassa-Samuelson (BS) hypothesis using annual data for 6 Asian countries. We apply new panel data cointegration techniques recently developed by Pedroni (2000) and we compare the results with those obtained with conventional Johansen (1995)’s time series...
Persistent link: https://www.econbiz.de/10009477039
This paper examines the Balassa-Samuelson hypothesis in Australia using the ARDL cointegration framework. Evidence was found of a significant long-run relationship between real exchange rate and Australia-US productivity differential during the period of 1950-2003. The results indicate that a...
Persistent link: https://www.econbiz.de/10009457279
This thesis examines the relationship between population structure and the real exchange rate in 23 OECD countries over the period 1980–2006. The motivation for this research stems mainly from the Life-Cycle Hypothesis (LCH) of consumption and saving. According to this hypothesis people...
Persistent link: https://www.econbiz.de/10009434871
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
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
This paper discusses linearity testing for the UK real exchange rate within a multivariateframework. First we estimate a long-run real exchange rate relationship within a system involvingreal wages, the unemployment rate and the real price of oil. Then we adopt a logistic transitionfunction for...
Persistent link: https://www.econbiz.de/10009465468
The paper analyzes exchange rate regimes implemented by the major Latin American countries since the Second World War, with special attention on the period of the second globalization process beginning in the 1970s. The analysis follows a historical narrative aiming to provide an understanding...
Persistent link: https://www.econbiz.de/10009467794
This paper investigates the equilibrium exchange rate of the Czech koruna using the reduced form equation of the stock-flow approach advocated, for instance, by Faruqee (1995) and Alberola and others (1999). We investigate whether or not the observed real exchange rate of the Czech koruna is...
Persistent link: https://www.econbiz.de/10009476677
In this paper we explore the evidence that would establish that Dutch disease is at work in, or poses a threat to, the Kazakh economy. Assessing the mechanism by which fluctuations in the price of oil can damage non-oil manufacturing -- and thus long-term growth prospects in an economy that...
Persistent link: https://www.econbiz.de/10009476897
Paper attempts to develop a model suitable for an analysis of the real exchange rate determination in transition economies. The main distinction from other approaches to the real exchange rate determination is an introduction of the pre-transition period which enables one to separately examine...
Persistent link: https://www.econbiz.de/10009477065