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The Story of the Real Exchange Rate
SSRN Electronic Journal, 2020 The real exchange rate (RER) measures relative price levels across countries, capturing deviations from purchasing power parity (PPP). RER is a key variable in international macroeconomic models as it is central to equilibrium conditions in both goods ...
Oleg Itskhoki
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Real exchange rate misalignments [PDF]
International Review of Economics & Finance, 2010 Abstract This paper investigates episodes of real exchange rate appreciations and depreciations for a sample of 85 countries from 1960 to 1998. A Markov Switching Model is used to characterize real exchange rate misalignment series as stochastic autoregressive processes governed by two states corresponding to different means and variances.
Cristina Terra +2 more
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Deforestation and the real exchange rate [PDF]
Journal of Development Economics, 2008 Deforestation is a phenomenon that has largely been concentrated in the developing world. We construct a theoretical model of deforestation that focuses on the factors affecting the incentives to transform forested land into agricultural land. We show that: (i) lower discount rates and stronger institutions decrease deforestation; (ii) depreciations in
Jean-Louis ARCAND +2 more
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Corporate Investment and the Real Exchange Rate [PDF]
IMF Working Papers, 2017 We examine the relationship between real exchange rate depreciations and indicators of firm performance using data for a sample of more than 30,000 firms from 66 (advanced and emerging market) countries over the 2000-2011 period.
Mai Dao, Camelia Minoiu, J. Ostry
semanticscholar +6 more sources
THE REAL EXCHANGE RATE AND DEVELOPMENT THEORY, EVIDENCE, ISSUES AND CHALLENGES
Journal of economic surveys (Print), 2021 This paper surveys the theoretical and empirical literature on the effects of the real exchange rate (RER) on international trade, economic development and growth. We summarize the main conceptual issues, discuss the relevance of the RER as an instrument
Firat Demir, A. Razmi
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Democratization and Real Exchange Rates, [PDF]
Scottish Journal of Political Economy, 2012 AbstractIn this article, we combine two so far separate strands of the economic literature and argue that democratization leads to a real exchange rate appreciation. We test this hypothesis empirically for a sample of countries observed from 1980 to 2007 by combining a difference‐in‐difference approach with propensity score matching estimators.
Bob Krebs +4 more
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Real exchange rates and skills [PDF]
Journal of International Money and Finance, 2016 While most of the literature on the determination of real exchange rates is focused on the role of standard macroeconomic variables, there exists however a few papers that are more concerned by the impact of factors which are usually considered to play a key role in the process of economic development, like demography or inequality.
Bodart, Vincent +1 more
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Fertility and the real exchange rate [PDF]
Canadian Journal of Economics/Revue canadienne d'économique, 2009 Abstract We use a quinquennial data set covering 87 countries between 1975 and 2005 to investigate empirically the relationship between fertility and the real effective exchange rate. Theoretically, a country experiencing a decline in its fertility rate can be expected to experience a real depreciation.
Andrew K. Rose +2 more
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Persistent real exchange rates [PDF]
Journal of International Economics, 2006 Three well known facts that characterize exchange rate data are: (a) the high correlation between bilateral nominal and real exchange rates; (b) the high degree of persistence in real exchange rate movements; and (c) the high volatility of real exchange rates. This paper attempts a joint, albeit partial, rationalization of these facts in an environment
Alok Johri, Amartya Lahiri
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Boom Goes the Price: Giant Resource Discoveries and Real Exchange Rate Appreciation
Economic Journal, 2020 We estimate the effect of giant oil and gas discoveries on bilateral real exchange rates. A giant discovery with the value of 10% of a country’s GDP appreciates the real exchange rate by 1.5% within ten years following the discovery.
Torfinn Harding +2 more
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