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 Sources of Euro Real Exchange Rate Fluctuations written by Jörg Döpke and published by . This book was released on 2001 with total page 44 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 Sources of real exchange rate fluctuations written by Richard 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 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 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 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 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.

Download or read book Sources of Purchasing Power Disparities written by Axel A. Weber and published by . This book was released on 1997 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to design appropriate exchange rate policies, it is instrumental to understand the sources of real and nominal exchange rate movements. We apply and extend the structural vector autoregressive (SVAR) model of Clarida and Galí (1994) in order to identify the importance of various types of real shocks (labour supply, aggregate supply and aggregate demand) and nominal shocks (money demand and money supply) for European and transatlantic exchange rate movements. It is found that whilst real and nominal U.S. dollar exchange rates are driven predominantly by relative demand shocks, European real and nominal exchange rate movements have distinctly different roots. The bulk of European relative price and nominal exchange rate movements can be explained by the differential long-run impact of monetary policy, and moving to EMU will eliminate both. However, misalignments are likely to persist between the Euro-area and the economies outside the Union. It is argued that for these fringe currencies the pegging the exchange rate vis-a-vis the Euro has to be supplemented by special institutional arrangements (formal policy coordination or a currency board) in order to avoid potentially destabilizing asymetric monetary policy shocks.

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 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 Market Volatility and Foreign Exchange Intervention in EMEs written by Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Introduction of the Euro and the Monetary Policy of the European Central Bank written by Shigeyuki Hamori and published by World Scientific. This book was released on 2010 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Euro area is an extremely unique and important currency area for two reasons. First, it is the single largest currency area to be created in an industrialized region. In a sense, the Euro area is important as a test case for those contemplating the establishment of new currency areas in East Asia, North America or other industrialized regions. Second, it was established by sovereign states working as peers, who, despite various challenges, peacefully and autonomously decided to create a single currency area. In other words, the Euro area is very different from other currency areas created by countries formerly in colonial relationships with each other. Therefore, for regions emerging from a developing status and forming a currency area, the Euro area could serve as a model case.Marking the 10th anniversary of the creation of the European Central Bank (ECB) and the Euro, this invaluable book analyzes the monetary policy of the ECB — the guardian of the Euro — by using recently developed econometric methods. The analysis performed in this book marks a substantial contribution toward understanding the significance of the Euro area as well as the future of the Euro from an international perspective.

Download or read book Misalignment of Exchange Rates written by Richard C. Marston and published by University of Chicago Press. This book was released on 2008-04-15 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists writing on flexible exchange rates in the 1960s foresaw neither the magnitude nor the persistence of the changes in real exchange rates that have occurred in the last fifteen years. Unexpectedly large movements in relative prices have lead to sharp changes in exports and imports, disrupting normal trading relations and causing shifts in employment and output. Many of the largest changes are not equilibrium adjustments to real disturbances but represent instead sustained departures from long-run equilibrium levels, with real exchange rates remaining "misaligned" for years at a time. Contributors to Misalignment of Exchange Rates address a series of questions about misalignment. Several papers investigate the causes of misalignment and the extent to which observed movements in real exchange rates can be attributed to misalignment. These studies are conducted both empirically, through the experiences of the United States, Great Britain, Japan, and the countries of the European Monetary System, and theoretically, through models of imperfect competition. Attention is then turned to the effects of misalignment, especially on employment and production, and to detailed estimates of the effects of changes in exchange rates on several industries, including the U.S. auto industry. In response to the contention that there is significant "hysteresis" in the adjustment of employment and production to changes in exchange rates, contributors also attempt to determine whether the effects of misalignment can be reversed once exchange rates return to earlier levels. Finally, the issue of how to avoid—or at least control—misalignment through macroeconomic policy is confronted.

Download or read book Sources of Exchange Rate Fluctuations written by Peter Kugler and published by . This book was released on 1981 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 Exchange Rates and Prices written by Mark S. Astley and published by . This book was released on 1998 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: