Download or read book Essays on Real Exchange Rate Dynamics written by Jens Sondergaard and published by . This book was released on 2004 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Real Exchange Rate Dynamics and on the Monetary Transmission Mechanism written by Ariel T. Burstein and published by . This book was released on 2002 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Real Exchange Rate Dynamics and Exchange Rate Regime written by Yu-Ning Hwang and published by . This book was released on 2006 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Output and Real Exchange Rate Dynamics written by Hashmat Khan and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Dynamics of Real Exchange Rate written by Deokwoo Nam and published by . This book was released on 2008 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Output and Real Exchange Rate Dynamics written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Shadows of History written by Douglas L. Campbell and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is comprised of one essay focusing on the measurement of real exchange rate indexes, three chapters on the various impacts of real exchange rate movements on the economy, two essays on the impact of fixed exchange rate regimes on trade, one essay on the long-run impact of trade shocks, and a final chapter on the diffusion of technology along geographic lines. The common theme is that these essays collectively paint a picture of the world in which history casts surprisingly long shadows, as current economic relationships -- trade, employment, productivity, and output -- are the product of history. In the first essay, coauthored with Ju Hyun Pyun, we propose several new methods of computing real exchange rate indices which fix a subtle, but important, index numbers problem apparent in widely-used series created by the Federal Reserve and the IMF, and also control for productivity. Extending one of these indexes historically for the US back to 1820, we uncover a new empirical fact -- that in 2002, the US price level had been higher relative to trading partners than at any time since the worst year of the Great Depression. The next three chapters essay address the issue of the economic impact of RER movements. To identify a causal impact of RER movements on manufacturing, I compare the US experience in the early 2000s to the 1980s, when large US fiscal deficits led to a sharp appreciation in the dollar, and to Canada's experience in mid-2000s, when high oil prices and a falling US dollar led to an equally sharp appreciation of the Canadian dollar. I use disaggregated sectoral data and a difference-in-difference methodology, finding that an appreciation in relative unit labor costs for the lead to disproportionate declines in employment, productivity and output for both the US and Canada. In addition, I find that the impact of a temporary shock to real exchange rates is surprisingly long-lived. In the second of these chapters, I find scant evidence for an impact of adverse trade shocks on inquality in manufacturing, and in the third, I speculate that the collapse in manufacturing caused by tectonic shifts in relative prices are a likely cause of the "secular stagnation'' experienced in the US since 2000. In the fifth and sixth chapters I challenge previous literature which found that currency unions lead to dramatically larger trade flows. I found that this previous literature did not control for the fact that current trade relationships are the product of historical forces -- in this case, that countries with former colonial relationships experienced only a gradual decay of trade ties over time since independence. Adding in a dynamic control for country-pair specific trends in trade patterns, and omitting currency union changes brought on by major geopolitical events such as communist takeovers and ethnic cleansing episodes severely weakened the previous findings in the literature. In the seventh chapter, I look at the long-run impacts of temporary shocks to trade patterns from the world wars. I find, for example, that while UK manufacturers dominated world export markets before WWI, during the war US exporters rose to prominence, but that after the war the UK could then not regain the market share it had previously, even given the relative reduction of UK GDP. In the final chapter, with coauthor Ju Hyun Pyun, we challenge a previous seminal finding in the development literature which found that a country's ``genetic distance'' to the US predicts its per capita GDP, even while controlling for a whole host of other variables. We find, by contrast, that the apparent impact of genetic distance was not robust to the inclusion of two standard geographic controls -- distance from the equator and a dummy for sub-Saharan Africa.
Download or read book Essays on the Current Account Terms of Trade and Real Exchange Rate Dynamics written by Yanchun Zhang and published by . This book was released on 2003 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on International Stock Markets and Real Exchange Rate Dynamics written by Kai Tim Wong (Douglas) and published by . This book was released on 2018 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Exchange Rate in a Dynamic Optimizing Current Account Model with Nominal Rigidities written by Robert Miguel W. K. Kollman and published by International Monetary Fund. This book was released on 1997-01-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G-7 effective exchange rates during the post-Bretton Woods era. The model predicts that a positive domestic money supply shock lowers the domestic nominal interest rate, that it raises output and that it leads to a nominal and real depreciation of the country’s currency. Increases in domestic labor productivity and in the world interest rate too are predicted to induce a nominal and real exchange rate depreciation.
Download or read book Essays in Exchange Rate Dynamics written by Jae Hoon Choi and published by . This book was released on 2017 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the dynamics of exchange rates and their effect on nominal and real macro variables and furthermore on policy choices.
Download or read book Essays on International Stock Markets and Real Exchange Rate Dynamics written by Kai Tim Wong and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Real Exchange Rate Dynamics and Price Convergence written by Erick M. Kitenge and published by . This book was released on 2016 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the first chapter, entitled “On Cross-country Differences in the Contribution of Nontraded Goods to Real Exchange Rate Fluctuations”, the contribution of nontraded goods to Real Exchange Rate (RER) fluctuations for a large number of countries that include high, middle, and low-income countries are estimated using Engel’s (1999, JPE ) approaches. We also propose a new quantity dual approach which does not require any assumption regarding the functional form for either the production function or for the overall price index to estimate similar measures. All the three approaches used yield qualitatively similar estimates, but there exists a large cross-country variation in the contributions of the nontraded goods to RER fluctuations. Income, government expenditure, exchange rate volatility, and political stability are found to be negatively correlated to the contributions of nontraded goods, while inflation, consumption expenditure, and openness are positively correlated to the contributions of nontraded goods to RER fluctuations. In the second chapter, entitled “The Great Recession and Price Convergence in the United States”, We analyze the differential nature of commodity price convergence in cities in the U.S.A. before and after the Great Recession of 2008. Using quarterly retail price data for 50 commodities from 279 cities for the period 1992–2014, we show that the speed of price convergence for almost all the commodities increased after the great recession, and that observation is more pronounced for nonperishable prices. We also observe that the price convergence disparity between the most and the least affected states widened, with the most affected areas experiencing much higher speed of price convergence than before the Great Recession. Moreover, the geographic variations of changes in rate of convergence are noteworthy. In the third chapter, entitled “Language, Topography, and Price Convergence”, we ask what else can downgrade technological innovations, improvement of transportation infrastructures, and other policy tools in boosting integrations of commodity markets? This paper analyzes the impact of two highly exogenous variables—languages and elevations—on retail price convergence which indicates the level of market integration. Using data from a very ethnic and topographically diversified country—India—we show that language and topographical variations represent intrinsic barriers to market integration and should not be overlooked. Therefore, ceteris paribus, a country with more similarities in languages and less variation in topographical features is likely to benefit more from technological improvements and from the improvement of transportation infrastructures due to the resulting faster rate of convergence.
Download or read book Essays on Exchange Rate Dynamics and Currency Crises in Asia written by Sweta Chaman Saxena and published by . This book was released on 2000 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Exchange Rate Dynamics written by George Kanatas and published by . This book was released on 1979 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on International Economics written by Tae Hyung Kim and published by . This book was released on 1995 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Dynamics written by Eric J. Pentecost and published by Edward Elgar Publishing. This book was released on 1993 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work examines the development of the determinants of the exchange rate system since the mid-1970s. It scrutinises the main theoretical models of exchange rate determination and assesses their empirical validity drawn from recent econometric results (based on cointegration methodology).
