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  • Search: subject_exact:"Currency devaluation"
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Subject
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Abwertung 1,583 Currency devaluation 1,564 Wechselkurspolitik 444 Exchange rate policy 443 Theorie 383 Theory 382 Wechselkurs 265 Exchange rate 263 Währungskrise 172 Currency crisis 168 Kaufkraftparität 167 Purchasing power parity 166 Estimation 162 Schätzung 162 Impact assessment 128 Wirkungsanalyse 128 USA 121 United States 117 Welt 117 World 117 Inflation 102 US-Dollar 97 US dollar 95 Developing countries 88 Entwicklungsländer 87 Finanzkrise 87 Financial crisis 86 Monetary policy 86 Geldpolitik 85 Handelsbilanz 83 Trade balance 83 Mexico 74 Mexiko 74 Außenwirtschaftliches Gleichgewicht 73 External balance 73 Kleine offene Volkswirtschaft 72 Small open economy 72 EU-Staaten 71 EU countries 70 China 68
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Online availability
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Free 492 Undetermined 168
Type of publication
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Article 828 Book / Working Paper 789
Type of publication (narrower categories)
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Article in journal 721 Aufsatz in Zeitschrift 721 Graue Literatur 397 Non-commercial literature 397 Working Paper 368 Arbeitspapier 365 Aufsatz im Buch 92 Book section 92 Hochschulschrift 30 Thesis 21 Collection of articles of several authors 15 Sammelwerk 15 Amtsdruckschrift 10 Government document 10 Collection of articles written by one author 9 Sammlung 9 Rezension 5 Case study 4 Fallstudie 4 Bibliografie enthalten 3 Bibliography included 3 Conference paper 3 Konferenzbeitrag 3 Konferenzschrift 3 Aufsatzsammlung 2 Commentary 2 Conference proceedings 2 Dissertation u.a. Prüfungsschriften 2 Kommentar 2 Reprint 2 Systematic review 2 Übersichtsarbeit 2 Adressbuch 1 Book Part 1 Book review 1 Directory 1 Interview 1 Mehrbändiges Werk 1 Multi-volume publication 1 Research Report 1
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Language
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English 1,446 French 53 German 39 Spanish 30 Undetermined 25 Italian 6 Russian 6 Croatian 4 Serbian 3 Finnish 1 Lithuanian 1 Dutch 1 Polish 1 Portuguese 1 Swedish 1
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Author
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Bahmani-Oskooee, Mohsen 44 Corsetti, Giancarlo 26 Rebelo, Sérgio 20 Burstein, Ariel T. 19 Hsing, Yu 18 Eichenbaum, Martin S. 17 Edwards, Sebastian 16 Tille, Cédric 14 Uribe, Martín 14 Izquierdo, Alejandro 13 Devereux, Michael B. 12 Rajan, Ramkishen S. 11 Upadhyaya, Kamal Prasad 11 Bussière, Matthieu 10 Farhi, Emmanuel 10 Frankel, Jeffrey A. 10 Bergin, Paul R. 8 Cravino, Javier 8 Eichenbaum, Martin 8 Gopinath, Gita 8 Itskhoki, Oleg 8 Lahiri, Amartya 8 Levchenko, Andrei A. 8 Mendoza, Enrique G. 8 Shahbaz, Muhammad 8 Burnside, Craig 7 Costamagna, Rodrigo 7 Fang, Wen-shwo 7 Forbes, Kristin 7 Harvey, Hanafiah 7 Jeanne, Olivier 7 Kamin, Steven 7 Kandil, Magda 7 Marion, Nancy Peregrim 7 Na, Seunghoon 7 Schmitt-Grohé, Stephanie 7 Smith, Gregor W. 7 Stein, Ernesto 7 Talvi, Ernesto 7 Tovar, Camilo Ernesto 7
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Institution
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National Bureau of Economic Research 41 International Monetary Fund (IMF) 16 Centre for International Economic Studies 4 International Monetary Fund 4 Inter-American Development Bank / Research Department 3 Federal Reserve Bank of New York 2 Institute for International Economics <Washington, DC> 2 John F. Kennedy School of Government 2 Robert Schuman Centre for Advanced Studies 2 American Institute for Economic Research, Great Barrington, Mass. 1 Aprelʹskaja meždunarodnaja naučnaja konferencija po problemam razvitija ėkonomiki i obščestva <16., 2015, Moskau> 1 Banco Central del Ecuador / Dirección General de Estudios 1 Banque de France / Direction des Etudes Economiques et de la Recherche 1 Birkbeck College / Department of Economics 1 Board of Governors of the Federal Reserve System (U.S.) 1 Bureau of Economic and Business Research <Champaign, Ill.> 1 CASE-Center for Social and Economic Research 1 Center for International Development <Cambridge, Mass.> 1 Centre for Business Research, University of Manchester 1 Centre for Macroeconomics (CFM) 1 Centro Regional de Investigaciones Multidisciplinarias <Cuernavaca> 1 Consiglio nazionale delle ricerche / Progetto finalizzato ricerche avanzate per innovazioni nel sistema agricolo 1 Ecole des hautes études commerciales <Montréal> / Institut d'économie appliquée 1 EconWPA 1 Ekonomiska forskningsinstitutet <Stockholm> 1 Federal Reserve Bank of San Francisco / Center for Pacific Basin Monetary and Economic Studies 1 Friedrich-Schiller-Universität Jena 1 Harvard Institute for International Development 1 Institut Catholique de l'Afrique de l'Ouest <Abidjan> 1 Institut für Weltwirtschaft 1 Institute of Constitutional and Parliamentary Studies 1 International Food Policy Research Institute 1 Internationaler Währungsfonds / Research Department 1 Közgazdaság-tudományi Intézet, Közgazdaság- és Regionális Tudományi Kutatóközpont 1 Loughborough University / Department of Economics 1 Massachusetts Institute of Technology / Department of Economics 1 Matematikai Közgazdaságtan és Gazdaságelemzés, Közgazdaságtudományi Kar 1 Maurice Falk Institute for Economic Research in Israel 1 Niederlande / Centraal Planbureau 1 Nigerian Institute of Social and Economic Research 1
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Published in...
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Working paper / National Bureau of Economic Research, Inc. 51 NBER working paper series 41 NBER Working Paper 35 Discussion paper / Centre for Economic Policy Research 27 Journal of policy modeling : JPMOD ; a social science forum of world issues 19 Journal of international money and finance 18 Applied economics 16 IMF Working Papers 13 Intereconomics : review of European economic policy 12 Applied economics letters 11 Economic modelling 11 Journal of international economics 11 International finance discussion papers 10 Policy research working paper : WPS 10 International monetary cooperation : lessons from the Plaza Accord after thirty years 9 IMF working paper 8 Journal of development economics 8 Review of development economics 8 Review of international economics 8 The International trade journal 8 International journal of economics and finance 7 Open economies review 7 African development review 6 Contemporary economic policy : a journal of Western Economic Association International 6 Discussion papers / CEPR 6 Economia internazionale 6 Food policy : economics planning and politics of food and agriculture 6 IMF working papers 6 International economic journal 6 International journal of finance & economics : IJFE 6 International review of applied economics 6 L'avenir de la zone franc : perspectives africaines 6 Seminar paper / Institute for International Economic Studies, University of Stockholm 6 Working paper 6 BIS working papers 5 China economic review : an international journal 5 Discussion paper 5 Eastern economic journal 5 IDB Working Paper 5 International economics : a journal published by CEPII (Center for research and expertise on the world economy) 5
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Source
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ECONIS (ZBW) 1,574 RePEc 27 USB Cologne (EcoSocSci) 11 EconStor 5
Showing 1 - 50 of 1,617
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The Brexit vote, inflation and U.K. living standards
Breinlich, Holger; Leromain, Elsa; Novy, Dennis; … - In: International economic review 63 (2022) 1, pp. 63-93
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Vehicle currency pricing and exchange rate pass-through
Chen, Natalie; Chung, Wanyu; Novy, Dennis - In: Journal of the European Economic Association : JEEA 20 (2022) 1, pp. 312-351
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Devaluations, deposit dollarization, and household heterogeneity
Ferrante, Francesco; Gornemann, Nils - 2022
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Real exchange rates and fundamentals in a new Markov-STAR model
Bertram, Philip; Flock, Teresa; Ma, Jun; Sibbertsen, Philipp - In: Oxford bulletin of economics and statistics 84 (2022) 2, pp. 356-379
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New dawn fades: trade, labour and the Brexit exchange rate depreciation
Costa, Rui; Dhingra, Swati; Machin, Stephen - 2022
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The 2008 financial crises in the Baltic countries
Baudino, Patrizia; Lielkalne, Olga; Reichenbachas, Tomas; … - 2022
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Devalued labour, COVID-19, and the problem of profitability : crises of seniors care in Shanghai, China and British Columbia, Canada
Strauss, Kendra; Xu, Feng - In: Studies in political economy : SPE 103 (2022) 2, pp. 109-129
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The Borchardt hypothesis : a cliometric reassessment of Germany's debt and crisis during 1930-1932
Ho, Tai-kuang; Lin, Ya-chi; Yeh, Kuo-chun - In: The journal of economic history 82 (2022) 3, pp. 691-726
Persistent link: https://ebtypo.dmz1.zbw/10013367249
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Trade policies and fiscal devaluations
Erceg, Christopher J.; Prestipino, Andrea; Raffo, Andrea - 2022
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A Constitutional Dollar Does Not Devalue
Guzelian, Christopher P. - 2022
This article shows that the United States Dollar has been unconstitutional since at least the Civil War. Congresses and central bankers often weaken its value. In a previous article, I demonstrated that the largely valueless Dollar causes human poverty and environmental damage. If Congress...
Persistent link: https://ebtypo.dmz1.zbw/10013289919
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Exchange rates and the speed of economic recovery : the role of financial development
Fisera, Boris - 2022
We study the influence of the exchange rate on the speed of economic recovery in a sample of 67 developed and developing economies over the years 1989-2019. First, using a cross-sectional sample of 341 economic recoveries, we study the effect of nominal depreciation and real undervaluation on...
Persistent link: https://ebtypo.dmz1.zbw/10013332929
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Exchange Rate Depreciations and Local Business Cycles : The Role of Bank Loan Supply
Beck, Thorsten; Bednarek, Peter; te Kaat, Daniel; von … - 2022
This paper uses matched bank-firm-level data and the 2014 depreciation of the euro to show that exchange rate depreciations lead to increased bank loan supply of large banks with significant net foreign asset exposure. This increase in lending can be explained by a shift in credit towards both...
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Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union
Andrés, Javier; Arce, Oscar; Fernández-Villaverde, Jesús - 2022
We study the macroeconomic effects of internal devaluations undertaken by a periphery of countries belonging to a monetary union. We find that internal devaluations have large and positive output effects in the long run. Through an expectations channel, most of these effects carry over to the...
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Devaluations, Deposit Dollarization, and Household Heterogeneity
Ferrante, Francesco; Gornemann, Nils - 2022
We study the aggregate and re-distributive effects of currency devaluations in a small open economy heterogeneous households model with leverage-constrained banks. Our framework captures three stylized facts about liability dollarization in emerging economies: i) banks and firms borrow in...
Persistent link: https://ebtypo.dmz1.zbw/10013300268
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How Raising Interest Rates Can Cause Inflation and Currency Depreciation
Egilsson, Jón Helgi - 2022
In this paper we derive a new model on exchange rate response to a lasting higher interest rate level. Contemporary models do not provide a convincing explanation for this relationship, but recent research suggests that models based on demand-pull effects to be somewhat confined to small funding...
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Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries
Edwards, Sebastian; Montiel, Peter J. - 2022
This paper develops our analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring an official devaluation. The effects of postponing adjustment depend on the source of the original shock,...
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What does Vietnam gain when its currency depreciates?
Nguyen, T. Thanh Binh - In: Economies : open access journal 9 (2021) 4, pp. 1-11
The study investigates how the depreciation of the Vietnam dong (VND) against the US dollar (USD) affected export turnover and the stock market in Vietnam during the period from 2000 to 2020. A Markov triple regime-switching model is developed for time-series data involving multistructural...
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Currency depreciations in emerging economies: a blessing or a curse for external debt management?
Fisera, Boris; Menbere Workie Tiruneh; Hojdan, David - 2021
We investigate the long-term effect of domestic currency depreciation on the external debt for a panel of 41 emerging economies over the years 1999-2019. Using heterogenous panel cointegration methods, we find that domestic currency depreciation leads to an increase in external debt to GDP ratio...
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The effect of nominal exchange rate depreciation on trade in eleven developing countries
Lubis, Muhammad Riyadh Ghozali; Abdul Karim, Noor Al-Huda - In: Malaysian management journal : MMJ 25 (2021), pp. 25-48
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Fiscal devaluation and relative prices : evidence from the Euro area
Arachi, Giampaolo; Assisi, Debora - In: International tax and public finance 28 (2021) 3, pp. 685-716
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The anatomy of consumption in a household foreign currency debt crisis
Gyöngyösi, Győző; Rariga, Judit; Verner, Emil - 2021
This paper studies the consumption response to an increase in the domestic value of foreign currency household debt during a large depreciation. We use detailed consumption survey data that follows households for four years around Hungary's 2008 currency crisis. We find that, relative to similar...
Persistent link: https://ebtypo.dmz1.zbw/10012792309
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Exchange rate depreciations and local business cycles : the role of bank loan supply
Beck, Thorsten; Bednarek, Peter; Kaat, Daniel Marcel te; … - 2021
This paper uses matched bank-firm-level data and the 2014 depreciation of the euro to show that exchange rate depreciations lead to increased bank loan supply of large banks with significant net foreign asset exposure. This increase in lending can be explained by a shift in credit towards both...
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Persistent link: https://ebtypo.dmz1.zbw/10012792736
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Why are Rates of Inflation so Low after Large Devaluations?
Burstein, Ariel T.; Eichenbaum, Martin; Rebelo, Sergio T. - 2021
This paper studies the behavior of inflation after nine large post-1990 contractionary devaluations. A salient feature of the data is that inflation is low relative to the rate of devaluation. We argue that distribution costs and substitution away from imports to lower quality local goods can...
Persistent link: https://ebtypo.dmz1.zbw/10013226060
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Fiscal Dominance and Inflation Targeting : Lessons from Brazil
Blanchard, Olivier J. - 2021
A standard proposition in open-economy macroeconomics is that a central-bank-engineered increase in the real interest rate makes domestic government debt more attractive and leads to a real appreciation. If, however, the increase in the real interest rate also increases the probability of...
Persistent link: https://ebtypo.dmz1.zbw/10013227007
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Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability : Argentina'S Lessons
Calvo, Guillermo A.; Izquierdo, Alejandro; Talvi, Ernesto - 2021
We offer an alternative explanation for the fall of Argentina's Convertibility Program based on the country's vulnerability to Sudden Stops in capital flows. Sudden Stops are typically accompanied by a substantial increase in the real exchange rate that breaks havoc in countries that are heavily...
Persistent link: https://ebtypo.dmz1.zbw/10013228964
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Competitive Devaluations : a Welfare-Based Approach
Corsetti, Giancarlo; Pesenti, Paolo A.; Roubini, Nouriel; … - 2021
This paper studies the mechanism of international transmission of exchange rate shocks within a 3-country Center-Periphery model, providing a choice-theoretic framework for the policy analysis and empirical assessment of competitive devaluations. If relative prices and terms of trade exhibit...
Persistent link: https://ebtypo.dmz1.zbw/10013230774
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Modeling Exchange-Rate Passthrough after Large Devaluations
Burstein, Ariel T.; Eichenbaum, Martin; Rebelo, Sergio T. - 2021
Large devaluations are generally associated with large declines in real exchange rates. We develop a model which embodies two complementary forces that account for the large declines in the real exchange rate that occur in the aftermath of large devaluations. The first force is sticky...
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Money, the Rate of Devaluation and Interest Rates in a Semi-Open Economy : Colombia 1968-1982
Edwards, Sebastian - 2021
In this paper an empirical model for analyzing the behavior of nominal interest rates in a semi-open economy is developed. The model explicitly incorporates both the role of open economy factors (i.e., world interest rates, expected rate of devaluation) and domestic monetary conditions in...
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On the Empirics of Sudden Stops : The Relevance of Balance-Sheet Effects
Calvo, Guillermo A.; Izquierdo, Alejandro; Mejia, … - 2021
Using a sample of 32 developed and developing countries we analyze the empirical characteristics of sudden stops in capital flows and the relevance of balance sheet effects in the likelihood of their materialization. We find that large real exchange rate (RER) fluctuations coming hand in hand...
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Cheap Labor Meets Costly Capital : The Impact of Devaluations on Commodity Firms
Forbes, Kristin J. - 2021
This paper examines how devaluations affect the relative costs of labor and capital and therefore influence production, profitability, investment, and stock returns for firms in the 'crisis' country as well as competitors in the rest of the world. After developing these ideas in a small,...
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Before the Fall : Were East Asian Currencies Overvalued?
Chinn, Menzie David - 2021
I implement two major approaches to identifying the equilibrium exchange rate. First, the concept of purchasing power parity is tested and used to define the equilibrium real exchange rate for the Indonesian rupiah, Korean won, Malaysian ringgit, Philippine peso, Singapore dollar, Taiwanese...
Persistent link: https://ebtypo.dmz1.zbw/10013211646
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Discrete Devaluation as a Signal to Price Setters
Katseli, Louka T. - 2021
The central hypothesis of this paper is that both the extent and speed of adjustment of the real exchange rate is affected by the way the central bank manages the nominal exchange rate. Specifically, a large discrete adjustment of the nominal exchange rate is more likely to result in fast...
Persistent link: https://ebtypo.dmz1.zbw/10013213455
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Balance Sheet Effects and the Country Risk Premium : An Empirical Investigation
García-Herrero, Alicia; Chang, Roberto; Berganza, Juan … - 2021
This paper investigates empirically whether there is a negative relationship between a country's risk premium and the balance sheet effect, as implied by recent theories emphasizing financial imperfections. We find evidence that balance sheet effects, stemming from the increase in the external...
Persistent link: https://ebtypo.dmz1.zbw/10013217272
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The Size and Timing of Devaluations in Capital-Controlled Developing Countries
Flood, Robert P.; Marion, Nancy Peregrim - 2021
A developing country often pegs its exchange rate to a single currency, such as the U.S. dollar, even though it faces a higher inflation rate than the country to which it is pegged. As a consequence, it experiences real exchange-rate misalignments and a series of easily-anticipated devaluations....
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Are Import Prices More Elastic To Local Currency Depreciations Than Appreciations?
Dainauskas, Justas - 2021
Exchange rates and international prices are endogenous – exchange rates influence export prices directly through the costs of intermediate imports, but import price inflation feeds back into the exchange rates indirectly through monetary policy. This paper shows how to quantify the causal...
Persistent link: https://ebtypo.dmz1.zbw/10013219635
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Tough Policies, Incredible Policies?
Neut, Alejandro; Velasco, Andrés - 2021
We revisit the question of what determines the credibility of macroeconomic policies here, of promises to repay public debt. Almost all thinking on the issue has focused on governments' strategic decision to default (or erode the value of outstanding debt via inflation/devaluation). But...
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On the Fiscal Implications of Twin Crises
Burnside, A. Craig; Eichenbaum, Martin; Rebelo, Sergio T. - 2021
This paper explores the implications of different strategies for financing the fiscal costs of twin crises for inflation and depreciation rates. We use a first-generation type model of speculative attacks which has four key features: (i) the crisis is triggered by prospective deficits; (ii)...
Persistent link: https://ebtypo.dmz1.zbw/10013247252
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Are Devaluations Contractionary?
Edwards, Sebastian - 2021
Recently a number of authors have criticized the role of devaluations in traditional stabilization programs. It has been argued that, contrary to the traditional view, devaluations are contractionary, and generate a decline in aggregate output. In spite of the renewed theoretical interest in the...
Persistent link: https://ebtypo.dmz1.zbw/10013249266
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Do Exchange Rate Devaluations Matter? VAR Evidence from the Czech Republic
Kvapilik, Jakub - 2021
What happens if a country devalues its currency? Standard macroeconomic theory would argue for expansionary effects, while recent theoretical contributions and the empirical evidence do not appear overly supportive. Devaluations have been mostly used by developing countries, but even...
Persistent link: https://ebtypo.dmz1.zbw/10013249517
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Output, Inflation, and Exchange Rate in Developing Countries : An Application to Nigeria
Odusola, Ayodele; Akinlo, Anthony - 2021
The three major explanations of inflation include fiscal, monetary, and balance of payments aspects. While in the monetary aspect inflation is considered to be due to an increase in money supply, in the fiscal aspect, budget deficits are the fundamental cause of inflation in countries with...
Persistent link: https://ebtypo.dmz1.zbw/10013251285
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Anticipating financial crisis in the 1960s and 1980s : using the past to plan for the 'apocalypse'
Schenk, Catherine R. - 2021
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Assessing the Effects of Real Exchange Rate Depreciation on the Moroccan Economy : Evidence Based on SVAR Approach with Sign Restrictions
Azzouzi, Asmae; Bousselhami, Ahmed - 2021
The purpose of this paper is to analyze the dynamic response of a small subset of variables to exchange rate shocks by using a new method based on a set of theory-consistent sign restrictions for the purpose of identifying shocks over time (1995Q1–2019Q1) in the Moroccan economy. It is...
Persistent link: https://ebtypo.dmz1.zbw/10013311280
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US Shocks and Global Exchange Rate Configurations
Fratzscher, Marcel - 2021
The paper analyses the heterogeneity in the link between macroeconomic fundamentals and exchange rates. For a set of important US-specific economic shocks, it shows that such shocks have exerted a remarkably heterogeneous effect on global exchange rate configurations over the past 25 years....
Persistent link: https://ebtypo.dmz1.zbw/10013316761
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Trade, Quality Upgrading and Wage Inequality in the Mexican Manufacturing Sector
Verhoogen, Eric A. - 2021
This paper proposes a new mechanism linking trade and wage inequality in developing countries - the quality-upgrading mechanism - and investigates its empirical implications in panel data on Mexican manufacturing plants. In a model with heterogeneous plants and quality-differentiated goods, only...
Persistent link: https://ebtypo.dmz1.zbw/10013316928
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Devaluation Expectations and the Stock Market : The Case of Mexico in 1994/95
Becker, Torbjorn; Gelos, Gaston; Richards, Anthony J. - 2021
Using company-level data, this paper examines the relative stock-market performance of firms with different foreign-exchange exposures around the time of the 1994/95 Mexican crisis. Contrary to what one might have expected given the alleged peso overvaluation, exporting firms outperformed the...
Persistent link: https://ebtypo.dmz1.zbw/10013317946
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The Link between Interest Rates and Exchange Rates : Do Contractionary Depreciations Make a Difference?
Sanchez, Marcelo - 2021
The link between exchange rates and interest rates features prominently in the theoretical and empirical literature on small open economies. This paper revisits this relationship using a simple model that incorporates the role of exchange rate pass-through into domestic prices and distinguishes...
Persistent link: https://ebtypo.dmz1.zbw/10013318193
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Large Devaluations and the Real Exchange Rate
Burstein, Ariel T.; Eichenbaum, Martin; Rebelo, Sergio T. - 2021
In this paper we argue that the primary force behind the large drop in real exchange rates that occurs after large devaluations is the slow adjustment in the price of nontradable goods and services. Our empirical analysis uses data from five large devaluation episodes: Argentina (2001), Brazil...
Persistent link: https://ebtypo.dmz1.zbw/10013220091
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Balance-of-Payments Crises and Devaluation
Obstfeld, Maurice - 2021
The collapse of a fixed exchange rate is typically marked by a sudden balance-of-payments crisis in which"speculators" fleeing from the domestic currency acquire a large portion of the central bank's foreign exchange holdings.Faced with such an attack, the central bank often withdraws...
Persistent link: https://ebtypo.dmz1.zbw/10013220420
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Common Fundamentals in the Tequila and Asian Crises
Tornell, Aaron - 2021
The cross-country variation in the severity of the crisis was largely determined by three fundamentals: the strength of the banking system, the real appreciation, and the international liquidity of the country. We also find that the rule that links fundamentals to the crisis severity has been...
Persistent link: https://ebtypo.dmz1.zbw/10013220789
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Investment Prices and Exchange Rates : Some Basic Facts
Burstein, Ariel T.; Neves, Joao C.; Rebelo, Sergio T. - 2021
This paper documents four basic facts about investment goods and investment prices. First, investment has a very significant nontradable component in the form of construction services. Second, distributions services (wholesaling, retailing, and transportation) are much less important for...
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