Results 11 to 20 of about 12,313,700 (305)
Nonlinearities and Real Exchange Rate Dynamics [PDF]
Journal of the European Economic Association, 2003 We confirm the presence of substantial nonlinearities in real exchange rate dynamics at the sectoral level. There exists zones where arbitrage is not profitable because of transaction costs, and thus mean reversion is inexistent. We compute the speed of mean reversion of sector specific real exchange rates, conditional on the existence of arbitrage as ...
Imbs, J. +3 more
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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.
Furlan, Benjamin +3 more
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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.
Terra, Maria Cristina T. +1 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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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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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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Persistence in real exchange rate convergence [PDF]
Studies in Nonlinear Dynamics and Econometrics, 2014 AbstractIn this paper we use a long memory framework to examine the validity of the Purchasing Power Parity (PPP) hypothesis using both monthly and quarterly data for a panel of 47 countries over a 50 year period (1957–2009). The analysis focuses on the long memory parameter d that allows us to obtain different convergence classifications depending on ...
Thanasis Stengos, M. Ege Yazgan
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THE DYNAMICS OF REAL EXCHANGE RATES: A RECONSIDERATION [PDF]
Journal of Applied Econometrics, 2013 SUMMARYIn this paper we offer a bootstrap‐based version of the Cox specification test for non‐nested hypothesis to discriminate between ESTAR and MSAR models. Both models are commonly used for modeling real exchange rates dynamics. We show that the test has good size and power properties in finite samples.
Heinen, Florian +2 more
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China’s real exchange rate [PDF]
, 2007 International pressure to revalue China’s currency stems in part from the expectation that rapid economic growth should be associated with a real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis under which economic growth, stemming from improvements in traded sector productivity, causes non-traded prices to rise.
Golley, Jane, Tyers, Rod
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The Real Exchange Rate, Innovation, and Productivity [PDF]
Journal of the European Economic Association, 2018 AbstractWe build a dynamic heterogeneous-firm model in which real depreciations raise export demand and the cost of importing intermediates, and also affect borrowing constraints and the profitability of engaging in research and development (R&D).
Alfaro, Laura +3 more
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