Download or read book Sources of Real Exchange Rate Fluctuations written by Richard H. Clarida and published by . This book was released on 1994 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates empirically and attempts to identify the sources of real exchange rate fluctuations since the collapse of Bretton Woods. The paper's first two sections survey and extend earlier, non-structural empirical work on this subject by Campbell and Clarida (1987), Meese and Rogoff (1988), and Cumby and Huizinga (1990). The paper's main contribution is to build and estimate a three equation open macro model in the spirit of Dornbusch (1976) and Obstfeld (1985) and to identify the model's structural shocks - to demand, supply, and money -using the approach pioneered by Blanchard and Quah (1989). For two of the four countries we study, Germany and Japan, our structural estimates imply that monetary shocks, to money supply as well as to the demand for real money balances, explain a substantial amount of the variance of real exchange rates relative to the dollar. We find that demand shocks, to national saving and investment, explain the majority of the variance in real exchange rate fluctuations, while supply shocks explain very little. The model's estimated short run dynamics are strikingly consistent with the predictions of the simple textbook Mundell-Fleming model.
Download or read book Sources of Real Exchange Rate Fluctuations in Central and Eastern Europe Temporary Or Permanent written by Agnieszka Stazka and published by . This book was released on 2006 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China Sources of Real Exchange Rate Fluctuations written by Tao Wang and published by INTERNATIONAL MONETARY FUND. This book was released on 2004-02-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the evolution of China's real effective exchange rate between 1980 and 2002, and uses a structural vector autoregression model to study the relative importance of different types of macroeconomic shocks for fluctuations in the real exchange rate. The structural decomposition shows that relative real demand and supply shocks account for most of the variations in real exchange rate changes during the estimation period. The paper also finds that supply shocks are as important as nominal shocks in accounting for real exchange rate fluctuations, in contrast with other studies that show that, in industrial countries, nominal shocks are more important in explaining real exchange rate fluctuations.
Download or read book Sources of Real Exchange Rate Fluctuations written by Richard H. Clarida and published by . This book was released on 1994 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Real Exchange Rate Movements written by Sven-Morten Mentzel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: One aim of this book is to examine the causes of fluctuations in the mark/dollar, pound/dollar, and yen/dollar real exchange rates for the period 1972-1994 with quarterly data to determine appropriate policy recommendations to reduce these movements. A second aim is to investigate whether the three real exchange rates are covariance-stationary or not and to which extent they are covariance-stationary, respectively. These aims are reached by using a two-country overshooting model for real exchange rates with real government expenditure and by applying Johansen's maximum likelihood cointegration procedure and a factor model of Gonzalo and Granger to this model.
Download or read book Sources of Real and Nominal Exchange Rate Fluctuations in Transition Economics written by Ali M. Kutan and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book SOURCES OF REAL EXCHANGE RATE FLUCTUATIONS HOW ARE NOMINAL SHOCKS written by Richard H. CLARIDA and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China Sources of Real Exchange Rate Fluctuations written by Tao Wang and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sources of Real and Nominal Exchange Rate Fluctuations in Transition Economies written by Ali M. Kutan and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Sources of Real Exchange Fluctuations in Developing Countries written by and published by . This book was released on 2004 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China written by and published by . This book was released on 2004 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sources of Real Exchange Rate Fluctuations in Central Eastern Europe Temporary Or Permanent written by and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Explaining Real Exchange Rate Fluctuations written by Amalia Morales-Zumaquero and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to explain the sources of real exchange rate fluctuations for a set of advanced economies and Central and Eastern European transition economies. To that end, we first estimate structural (identified) vector autoregression (SVAR) models, and decompose real and nominal exchange rate movements into those caused by real and nominal shocks. We then complete the previous step with an impulse-response analysis. There is evidence of instability in the variance decomposition of the real exchange rates for advanced economies across samples, with a growing importance of nominal shocks. Nominal shocks are also important in some transition economies.
Download or read book Sources of Real Exchange Rate Fluctuations in the Nordic Countries written by Annika Alexius and published by . This book was released on 1999 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sources of Real Exchange Rate Fluctuations in Transition Economies written by Selahattin Dibooglu and published by . This book was released on 2000 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sources of Fluctuations of Real Exchange Rate written by Myoung-Chul Chung and published by . This book was released on 2000 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
