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Author: Jaebeom Kim
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 46
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Book Description
Author: Jaebeom Kim
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 46
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Book Description
Author: Michael A. Jenkins
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 21
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Author: Jaebeom Kim
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Author: Janice Boucher Breuer
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This study demonstrates that the joint relationship amongst domestic traded goods prices, domestic non-traded goods prices, foreign traded goods prices, and foreign non-traded goods prices is important to understanding rejections or confirmations of long run PPP. This joint relationship is defined as the "cross-country internal relative price structure." For nine of the ten pairs of countries studied, the cross-country internal relative price structure is found to be stationary; thus, factors other than the influence of non-traded goods prices must be responsible for rejections of long run PPP.
Author: Robert C. Feenstra
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 56
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Book Description
In this paper we develop and test two hypotheses about purchasing power parity (PPP) derived from the pricing behavior of profit- maximizing, exporting firms. The first is that changes in the price of traded goods relative to domestic substitutes, due to partial pass- through of exchange rates, will affect the PPP relation. The second is that PPP should hold on forward rather than spot exchange rates, due to hedging by firms. Using quarterly data for the United States, Canada, France, Germany, Japan and the United Kingdom, we find considerable support for the first but not the second hypothesis.
Author: Jaebeom Kim
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The paper examines the convergence question by contrasting the half-lives of deviations from purchasing power parity (PPP) across traded and nontraded goods in an exchange rate model with sticky prices. In particular, empirical results show that in most cases the half-lives of PPP deviations for traded goods are shorter than those for total consumption and for nontraded goods.
Author:
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 32
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Author: Mark P. Taylor
Publisher: Routledge
ISBN: 1317988191
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
The term Purchasing Power Parity may date from the early twentieth century, when it was coined by the Swedish economist Gustav Cassel, but the underlying concept had been enjoying varying degrees of success since its development in sixteenth century Spain. Even towards the end of the twentieth century, and especially since the breakdown of the Bretton Woods system of fixed exchange rates, PPP and the stability of real exchange rates continued to be the subject of academic debate. This volume brings together essays covering aspects of current thinking on Purchasing Power Parity, from the various ways in which to test for its existence, to its appearance in different economies around the world, to examinations of the explanations given when PPP does not appear to hold This book was published as a special issue of Applied Financial Economics. The academic editor of this journal is Mark P. Taylor.
Author: Nestor Azcona
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
This paper uses a DSGE model of two small open economies to explain certain features of real exchange rate cyclical fluctuations in countries with fixed and flexible exchange rates, focusing on the role of traded and non-traded goods prices. In particular, the model illustrates why the relative price of nontraded goods and the relative price between domestic and foreign traded goods are more volatile than the real exchange rate under a fixed exchange rate but not under a flexible exchange rate, why deviations from purchasing power parity for traded goods prices can be more volatile under a fixed exchange rate than under a flexible exchange rate, and why there is no correlation between the volatility of the real exchange rate and its variance decomposition.
Author: JOHN S. STEVENSON
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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