Constant Nominal and Real Exchange Rates
The Impact of Real and Nominal Shocks on Australian Real Exchange Rates
... Real shocks such as a favourable productivity shock in the traded goods sector or an increase in the real price of exports leads to excess demand for non-traded goods at consta[r] ...
47
Effective Real Exchange Rates and Irrelevant Nominal Exchange-rate Regimes
... floating exchange-rate ...fixed exchange-rate regime of the Bretton Woods system may differ from that of a fixed exchange-rate regime post-Bretton ...fixed exchange rate arrangements may ...
25
Canadian Monetary Policy and Real and Nominal Exchange Rates [Revised]
... borrowing rates in Canada nevertheless provides a good method of influencing the expected domestic inflation rate, which is crucially impor- tant for ...While nominal exchange rate adjustments, and ...
45
Real Effects of Movements in Nominal Exchange Rates: Application to the Asian Crisis
... an exchange rate crisis is that even though a country has an exchange rate peg, it still acts as if it had an independent monetary ...the exchange regime in 1997. The monetary base for Korea stayed ...
19
Nominal Exchange Rate Flexibility and Real Exchange Rate Adjustment: Evidence from Dual Exchange Rates in Developing Countries
... greater exchange rate flexibility facilitates real exchange rate ...the real exchange rate adjusts should depend a lot on exchange rate ...pegged exchange rates, ...
35
The source of real and nominal exchange rate fluctuations in Thailand: Real shock or nominal shock
... effective exchange rate reflects a country’s international competitiveness in terms of its foreign exchange ...individual exchange rates between home currency and the currencies of other ...
12
Real Effects of Nominal Exchange Rate Shocks
... that real exchange rate developments have deep two-sector, two-factor, open- economy determinants — in particular, adding money-in-the-utility and q-theory to a standard two-sector, two-factor open economy ...
34
Sources of exchange rate fluctuations: are they real or nominal?
... The selection of a VAR model approach to address this type of question is a natural one. In fact, most empirical work on the sources of exchange rate ‡uctuations builds on the use of an sVAR method to identify ...
38
Three questions concerning nominal and real interest rates
... When the federal deficit was used, neither fiscal nor monetary policy was estimated to have contributed much to the behavior of the real rate over the same period.. ApPENDIX.[r] ...
17
Persistent Real Exchange Rates
... the real exchange ...the real exchange rate to revert to its long run equilibrium level in the …rst period that prices are free to ...the real exchange rate is markedly di¤erent ...
36
Democratization and real exchange rates
... favorable exchange rates to support its export-led growth ...‘unfair’ exchange rates exercise a direct impact on trade, as it can be seen as an export subsidy or import tariff that provides ...
34
Real exchange rate volatility, financial crises and nominal exchange regimes
... that exchange rate do regimes really matter, as we obtain evidence in favour of nominal regimes affecting RER ...the exchange rate regime and RER volatility, as well as an increase in RER volatility ...
51
Sources of Real and Nominal Exchange Rate Movements for the Euro
... the real and nominal exchange rates are tested for by using the augmented Dickey-Fuller (ADF) tests (Dickey and Fuller, ...all real and nominal exchange rates, the ...
11
Exchange-rate policy and the zero bound on nominal interest rates
... an exchange-rate peg and price-level targeting in stimulating the Japanese economy in a severe recession and deflation scenario when nominal interest rates are bounded at ...and nominal ...
25
Exchange Rate Policy and the Zero Bound on Nominal Interest Rates
... Abstract In this paper, we study the effectiveness of monetary policy in a severe recession and defla- tion when nominal interest rates are bounded at zero. We compare two alternative proposals for ...
28
Cote d'Ivoire - Fiscal policy with fixed nominal exchange rates
... In Section 3, a positive description of the fiscal policy is provided through the structural definition of the deficit. We will also review the main components of revenues and [r] ...
86
Exchange rate policy and the zero bound on nominal interest rates
... In this paper, we study the effectiveness of monetary policy in a severe recession and defla- tion when nominal interest rates are bounded at zero. We compare two alternative proposals for ameliorating the ...
29
Exchange rates, capital, output and debt when nominal interest rates are policy parameters
... Higher e also makes i t more probable that depreciation squeezes aggregate demand, as we have seen; and since the exchange rate impact o f higher r is uncertain, the significance of[r] ...
23
Household heterogeneity and real exchange rates
... Typical incomplete markets models in international economics make two assumptions. First, house- holds are not able to fully insure themselves against country-specific shocks. Second, there is a representative household ...
45
Macroeconomic Determinants of Real Exchange Rates
... The value of the exchange rate at one point in time, t(O), given income, the domestic price level, and other real variables, may yield a nonzero balance on current account.. With flexibl[r] ...
60