Download or read book Real Exchange Rate Variability written by Sebastian Edwards and published by . This book was released on 1986 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On the Causes and Effects of Real Exchange Rate Variability written by Rogelio Arellano-Cadena and published by . This book was released on 1990 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange Rate Volatility and World Trade written by International Monetary Fund and published by International Monetary Fund. This book was released on 1984-07-08 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.

Download or read book On the Instability of Variance Decompositions of the Real Exchange Rate Across Exchange rate regimes written by Enrique G. Mendoza and published by . This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Variance decompositions of the Mexico-United States real exchange rate are examined using monthly data on consumer prices and the nominal exchange rate for the period January, 1969 to February, 2000. The results show that the robust result found in industrial-country data that most of the variation of the real exchange rate is due to fluctuations in prices of tradable goods and nominal exchange rates holds only in periods in which Mexico was not under a regime of exchange-rate management. In periods in the sample in which Mexico had a managed exchange-rate regime, the variability of prices of non-tradable goods relative to tradable goods accounts for up to 70 percent of the variability of the peso-dollar real exchange rate.

Download or read book Exchange Rate Volatility Pricing to Market and Trade Smoothing written by Mr.Peter B. Clark and published by International Monetary Fund. This book was released on 1997-10-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.

Download or read book Real Exchange Rates in the Developing Countries written by Sebastian Edwards and published by . This book was released on 1989 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper deals with three important issues related to real exchange rates. First, it discusses the analytical concept of real exchange rate (RER) placing particular emphasis on providing an operational definition for the equilibrium real exchange rate. Of course, once this concept is defined we can begin to discuss in a meaningful way what we mean by real exchange rate misalignment, or deviations of the actual RER from its equilibrium value. Second, this paper deals with problems associated with measuring real exchange rates. Several proposals are analyzed and the more serious problems encountered when attempting to compute RER's in the developing countries are discussed. And third, I analyze the actual behavior of RER's in a number of developing countries. Here, issues related to the behavior of alternative indexes and to the statistical properties of real exchange rates are emphasized. Additionally, I study the real consequences of increased real exchange rate volatility.

Download or read book Sticky Exchange Rates and Flexible Prices written by Ms.Anne Marie Gulde and published by International Monetary Fund. This book was released on 1991-12-01 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks as the culprit. We test the crucial assumptions underlying the two models for the interwar period. Prices and exchange rates are found to be equally flexible. We hence reject the neokeynesian sticky price view for our sample period. In contrast, our results are consistent with, while not constituting evidence for, the neoclassical equilibrium approach.

Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.

Download or read book Real Exchange Rate Variability Under Pegged and Floating Nominal Exchange Rate Systems written by and published by . This book was released on 1988 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book CROSS REGIME BEHAVIOR OF REAL EXCHANGE RATES EVIDENCE FROM THE EUROPEAN MONETARY SYSTEM written by ANUSHA CHARI and published by . This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange rate Policy Monetary Policy and Real Exchange rate Variability written by Pieter Korteweg and published by . This book was released on 1980-01-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Effects of Exchange Rate Variability on International Trade and Other Economic Variables written by Victoria S. Farrell and published by . This book was released on 1983 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange rate Variability and Trade written by Jan Kees Martijn and published by Purdue University Press. This book was released on 1993 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains essays on the impact of exchange-rate variability on trade policy and trade flows

Download or read book Exchange Rate Volatility and Trade Flows Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book Real exchange rate Variability from 1920 to 1926 and 1973 to 1982 written by Paul de Grauwe and published by . This book was released on 1985 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Real Exchange Rate Volatility written by Ms.Hong Liang and published by International Monetary Fund. This book was released on 1998-10-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER.

Download or read book PPP Strikes Back written by Mr. Haroon Mumtaz and published by International Monetary Fund. This book was released on 2003-04-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate half-life fall dramatically, to little more than one year, or significantly below Rogoff''s "consensus view" of three to five years. We show that corrected estimates are consistent with plausible nominal rigidities, thus, arguably, solving the PPP puzzle.