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Voprosy Ekonomiki, 2016
Developing countries typically exhibit a high degree of macroeconomic variablesinstability. This feature is particularly evident as regards the volatility of the real exchange rate. The concern with these destabilizing effects generatedby real exchange rate instability has prompted some developing countries to adopt real exchange rate targeting since ...
S. Moiseev, I. Pantina
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Developing countries typically exhibit a high degree of macroeconomic variablesinstability. This feature is particularly evident as regards the volatility of the real exchange rate. The concern with these destabilizing effects generatedby real exchange rate instability has prompted some developing countries to adopt real exchange rate targeting since ...
S. Moiseev, I. Pantina
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Journal of Banking & Finance, 1990
Abstract This essay concerns the real value of the $U.S. relative to the G-10. (i) What are the dynamics of the fundamental determinants of the real exchange rate and its steady state value? (ii) To what extent are the observed movements in the exchange rate from 1973 to 1988 due to the fundamentals?
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Abstract This essay concerns the real value of the $U.S. relative to the G-10. (i) What are the dynamics of the fundamental determinants of the real exchange rate and its steady state value? (ii) To what extent are the observed movements in the exchange rate from 1973 to 1988 due to the fundamentals?
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1988
The recent float has led to renewed theoretical and empirical interest in the purchasing power parity (PPP) doctrine. In this Chapter we examine the validity of various versions of PPP, in light of the random-walk conditional mean behavior, and ARCH conditional variance behavior, which was documented in earlier Chapters for nominal exchange rates.
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The recent float has led to renewed theoretical and empirical interest in the purchasing power parity (PPP) doctrine. In this Chapter we examine the validity of various versions of PPP, in light of the random-walk conditional mean behavior, and ARCH conditional variance behavior, which was documented in earlier Chapters for nominal exchange rates.
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EQUILIBRIUM REAL EXCHANGE RATES
The Manchester School, 1992This paper analyzes the role of the real exchange rate in macroeconomic equilibrium. The supply-side equilibrium exchange rate, that level of the real exchange rate at which (relative) inflation is constant, is derived from a simple macro-model and related to the standard "NAIRU" model.
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1982
Despite the range of material covered in the conference as a whole a number of clear policy messages have emerged which have a major bearing upon exchange rate policy in general and UK policy in particular. The main message is that because the exchange market is efficient it cannot be argued that the nominal exchange rate is too high or too low.
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Despite the range of material covered in the conference as a whole a number of clear policy messages have emerged which have a major bearing upon exchange rate policy in general and UK policy in particular. The main message is that because the exchange market is efficient it cannot be argued that the nominal exchange rate is too high or too low.
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2006
In the previous chapters I discussed international liberalisation of financial capital in a perfect world (Chapters 2 and 3) and under tax distortions (Chapters 4 and 5). The perfect-world analysis delivered the result that international liberalisation contributes via optimal international allocation of physical capital to welfare of both countries and
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In the previous chapters I discussed international liberalisation of financial capital in a perfect world (Chapters 2 and 3) and under tax distortions (Chapters 4 and 5). The perfect-world analysis delivered the result that international liberalisation contributes via optimal international allocation of physical capital to welfare of both countries and
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On Exchange Rates, Nominal and Real
Journal of International Money and Finance, 1998Abstract The paper first develops an Australian `commodity currency' exchange rate model, which is extended to deal with real exchange rates as well. The nominal and real exchange-rate versions are then tested on Swiss data for the post-Bretton Woods period.
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Real Exchange Rate and Real Effective Exchange Rate Measurement: Some theoretical Extensions [PDF]
, 2012 ABSTRACT The paper has provided theoretical extensions to the computations of nominal effective exchange rate and the real effective exchange rate over time. The extension took cognizance of the common base currency (USD) to which all currencies of the world is usually converted.
ibrahim, waheed, Jimoh, Ayodele
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Consumption Dynamics and Real Exchange Rates
SSRN Electronic Journal, 2001The Paper investigates the role of the real exchange rate in relationships between consumption growth rates across countries when financial markets are integrated. The real exchange rate introduces a wedge between real marginal utilities of consumption in different countries and this wedge plays a prominent role in a number of new theories of ...
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2007
Abstract The term real exchange rate is used so liberally in the economics literature that one might think that it has a unique unambiguous meaning. In fact it is used both to indicate relative price levels for traded goods in different countries, and also as a theoretical variable that measures the relative price for one country of its ...
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Abstract The term real exchange rate is used so liberally in the economics literature that one might think that it has a unique unambiguous meaning. In fact it is used both to indicate relative price levels for traded goods in different countries, and also as a theoretical variable that measures the relative price for one country of its ...
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