Exchange Rate Pass-Through in Spain PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Exchange Rate Pass-Through in Spain PDF full book. Access full book title Exchange Rate Pass-Through in Spain by Ms.Zuzana Murgasova. Download full books in PDF and EPUB format.
Author: Ms.Zuzana Murgasova
Publisher: International Monetary Fund
ISBN: 1451943415
Category : Business & Economics
Languages : en
Pages : 32
Get Book Here
Book Description
This paper examines the factors underlying the stability of inflation observed following devaluations of the Spanish peseta, which took place during the 1992-93 Exchange Rate Mechanism (ERM) crisis. The long-run equilibrium relationships between the exchange rate and the aggregate price indices are estimated using the Johansen maximum likelihood-method. The short-run dynamics are obtained from error-correction models. The model is then simulated by calibrating changes in the exogenous variables to their actual values. The results indicate that the cost-push-up effect of devaluations may have been completely offset by determinants of the cyclical position of the economy and the low inflation rate in 1993-94 should not be viewed as unusual.
Author: Ms.Zuzana Murgasova
Publisher: International Monetary Fund
ISBN: 1451943415
Category : Business & Economics
Languages : en
Pages : 32
Get Book Here
Book Description
This paper examines the factors underlying the stability of inflation observed following devaluations of the Spanish peseta, which took place during the 1992-93 Exchange Rate Mechanism (ERM) crisis. The long-run equilibrium relationships between the exchange rate and the aggregate price indices are estimated using the Johansen maximum likelihood-method. The short-run dynamics are obtained from error-correction models. The model is then simulated by calibrating changes in the exogenous variables to their actual values. The results indicate that the cost-push-up effect of devaluations may have been completely offset by determinants of the cyclical position of the economy and the low inflation rate in 1993-94 should not be viewed as unusual.
Author: Zuzana Murgasova
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
Get Book Here
Book Description
Author: José Manuel Campa
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 52
Get Book Here
Book Description
Se analizan las diferencias en el cambio exterior de los países del area euro en los precios de las importaciones de fuera del área.
Author: Mariarosaria Comunale
Publisher:
ISBN:
Category :
Languages : en
Pages : 62
Get Book Here
Book Description
In this paper we analyse the exchange rate pass-through (ERPT) in the euro area as a whole and for four euro area members - Germany, France, Italy and Spain. For that purpose we use Bayesian VARs with identfiication based on a combination of zero and sign restrictions. Our results emphasize that pass-through in the euro area is not constant over time - it may depend on a composition of economic shocks governing the exchange rate. Regarding the relative importance of individual shocks, it seems that pass-through is the strongest when the exchange rate movement is triggered by (relative) monetary policy shocks and the exchange rate shocks. Our shock-dependent measure of ERPT points to a large but volatile pass-through to import prices and overall very small pass-through to consumer inflation in the euro area.
Author: Joaquín Muns
Publisher: "la Caixa"
ISBN: 8488099274
Category : Business & Economics
Languages : en
Pages : 220
Get Book Here
Book Description
Recoge:España y el Euro; Unión monetaria europea; Costes y beneficios de una moneda única en España; Políticas de la Unión monetaria.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513573691
Category : Business & Economics
Languages : en
Pages : 34
Get Book Here
Book Description
Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.
Author: Danilo Leiva-Leon
Publisher:
ISBN:
Category :
Languages : en
Pages : 8
Get Book Here
Book Description
The effect of the euro exchange rate on inflation has taken on significant importance recently, with the application of the ECB's expansionary monetary policy measures having coincided with episodes of euro appreciation, such as that observed between the second half of 2017 and early 2018, which tend to exert downward pressure on imported prices. This article analyses the factors behind the fluctuations in the euro exchange rate against the dollar during the recent period, and finds that this appreciation may have largely been due to the higher relative growth of the euro area, compatible with a pick-up in expected euro area inflation. However, the subsequent depreciation, since February 2018, might reflect factors related to changes in the relative confidence of financial markets to the detriment of the euro, and to the lower relative growth of the euro area compared with the United States. Further, it is documented how the pass-through of exchange rate movements to overall consumer-price inflation in the Spanish economy has increased slightly in recent years, owing mainly to the energy component, while core inflation remains much less sensitive to exchange rate changes.
Author: Ms.Iyabo Masha
Publisher: International Monetary Fund
ISBN: 1475578563
Category : Business & Economics
Languages : en
Pages : 44
Get Book Here
Book Description
This study examines the degree of exchange rate pass through (EPRT) into producer and consumer prices in Maldives. ERPT to consumer prices is first estimated using a nonparametric approach. A recursive vector autoregression is then used to model both consumer and producer price changes. The nonparametric estimation indicates that ERPT to consumer prices is very high, both in absolute terms and relative to other countries. The dynamics of ERPT as derived from the empirical estimation indicate that ERPT to consumer and producer prices is significant but not complete, and that the impact of exchange rate changes persists into the second year.
Author: Wei Chen
Publisher:
ISBN:
Category :
Languages : en
Pages : 284
Get Book Here
Book Description
Author: Mārtiņš Bitāns
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
Get Book Here
Book Description
