Results 1 to 10 of about 81,935 (46)
The Macroeconomic Effects of Oil Supply News: Evidence from OPEC Announcements
The American Economic Review, 2021 This paper studies how changes in oil supply expectations affect the oil price and the macroeconomy. Using a novel identification design, exploiting institutional features of OPEC and high-frequency data, I identify an oil supply news shock. These shocks
D. Känzig
semanticscholar +1 more source
Optimal Policy Under Dollar Pricing
Social Science Research Network, 2023 Empirical evidence shows that most international prices are sticky in dollars. This paper studies the policy implications of this fact in the context of an open economy model with general preferences, technologies, asset markets, nominal rigidities, and ...
K. Egorov, D. Mukhin
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Tariff Pass-Through at the Border and at the Store: Evidence from US Trade Policy
American Economic Review: Insights, 2019 We use microdata collected at the border and the store to characterize the price impact of recent US trade policy on importers, exporters, and consumers. At the border, import tariff pass-through is much higher than exchange rate pass-through.
Alberto Cavallo +5 more
semanticscholar +1 more source
Central Bank Information Effects and Transatlantic Spillovers
Social Science Research Network, 2022 The news about the economy contained in a central bank announcement can affect public expectations. This paper shows, using both event studies and vector autoregressions, that such central bank information effects are an important channel of the ...
Marek Jaroci´nski
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Exchange Rates and Economic Fundamentals: A Methodological Comparison of Beers and Feers
Social Science Research Network, 1998 This paper compares two approaches for examining the extent to which a country's actual real effective exchange rate is consistent with economic fundamentals: the FEER approach, which involves calculating the real exchange rate that equates the current ...
Peter B. Clark, R. MacDonald
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Inflation Differential Pass-Through to Exchange Rate: Some Evidence From Pakistan
SAGE Open, 2023 Using regression and wavelet coherence techniques this paper tries to probe the validity of purchasing power parity (PPP) in Pakistan. For this purpose, monthly data is collected for nominal exchange rate and consumer prices of Pakistan and its 23 major ...
Muhammad Zakaria +3 more
semanticscholar +1 more source
Bond Convenience Yields and Exchange Rate Dynamics
American Economic Journal: Macroeconomics, 2020 This paper proposes a new explanation for the failure of Uncovered Interest Parity (UIP) that rationalizes both the classic UIP puzzle and the evidence that the puzzle reverses direction at longer horizons.
Rosen Valchev
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When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries
American Economic Journal: Macroeconomics, 2019 This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria ...
Marcel Fratzscher +4 more
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Uncertainty and Information Acquisition: Evidence from Firms and Households
Social Science Research NetworkWe leverage the small open economy Switzerland as a testing ground for basic premises of macroeconomic models of endogenous information acquisition, using tailored surveys of firms and households.
H. Mikosch +3 more
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The Hedging Channel of Exchange Rate Determination
International Finance Discussion Paper, 2020 We propose the currency hedging channel that connects countries’ external imbalances to their exchange rate behavior. We present a model in which investors increase their currency hedging during periods of financial distress in proportion to their net ...
Gordon Y. Liao, T. Zhang
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