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The effects of exchange rate regimes on real exchange rate misalignment
International Review of Applied Economics, 2017The literature on exchange rate regimes has paid little attention to the effects of exchange rate policies on real exchange rate misalignments.
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Real exchange rate effects of monetary shocks under fixed and flexible exchange rates
Journal of International Economics, 1990Abstract We analyze how the real exchange rate effects of monetary and real shocks depend on the exchange rate regime within a two-country rational expectations model with confusion about money and real shocks. The model demonstrates that the real exchange rate effect of unanticipated monetary shocks is negatively related to the variance of the ...
Reuven Glick, Clas Wihlborg
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Mean Reversion Properties in Real Effective Exchange Rates
SSRN Electronic Journal, 2018In recent years, advances in the field of unit root tests helped to partially solve the first purchasing power parity puzzle. Non-linear mean-reversion tests with real exchange rates were able to reject the null of a unit root (indicating mean reversion) in significantly more cases than the standard linear tests.
Tim Glaus, Alexander Thoma
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INTERNATIONAL OUTSOURCING, THE REAL EXCHANGE RATE AND EFFECTIVE DEMAND
Metroeconomica, 2010ABSTRACTWe develop a two‐country model of international trade with outsourcing opportunities, and analyze the effects of outsourcing on employment and effective demand under stagnation. Increased outsourcing proves not only to lower employment but also to depreciate the real exchange rate which has the effect of boosting employment.
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Measurement of Real Effective Exchange Rate of RMB
2011 International Conference on Business Computing and Global Informatization, 2011The real effective exchange rate, as an important indicator for measuring the competitiveness of a national monetary in international trade and finance sector, is playing an increasingly important role in the international financial system of currency diversity. To measure and analyze the real exchange rate of RMB can help us to seize the real trend of
Li Ping, Zang Le
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Timely measurement of real effective exchange rates
2021We demonstrate that short-run real exchange effective rate changes are dominated by nominal effective exchange rate changes, while inflation rates are sticky and contribute little to short-run real exchange rate changes. These observations allow a rather accurate real-time approximation of the real effective exchange rate using actual nominal exchange ...
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Euro Area real effective exchange rate misalignments [PDF]
, 2012 The resolution of the eurozone crisis requires, amongst other things, successful relative price adjustments between member states. We estimate here the scale of the adjustments needed using fundamental equilibrium exchange rates. We suggest two scenarios of adjustments, depending on the levels of inflation tolerated in surplus countries and at the Euro
Benjamin Carton, Karine Hervé
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Equilibrium Real Effective Exchange Rates and Real Exchange Rate Misalignments: Time Series vs. Panel Estimates [PDF]
, 2010 We follow the behavioral equilibrium exchange rate approach by Clark and MacDonald (1998) to derive equilibrium real effective exchange rates and currency misalignments for the US and its 16 major trading partners. We apply cointegration and panel cointegration techniques to derive fully countryspecific measures of misalignment and measures based on ...
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Real Exchange Rate Effects of Fiscal Expansion under Trade Restrictions
The Canadian Journal of Economics, 1997We develop a small open-economy trade model where either a tariff, or a quota, or a voluntary export restraint (VER) exists, and where one exported, one imported, one non-traded, and one public good are produced. Within this context we examine the effects of fiscal expansion on welfare and the real exchange rate (RER).
Hatzipanayotou, Panos +3 more
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The misalignment of real effective exchange rate: evidence from Tunisia
2021Graduate Institute of International and Development Studies Working Paper ; no.
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