The Empirical Regularities of the Real Exchange Rate from a Competitive Perspective

The Empirical Regularities of the Real Exchange Rate from a Competitive Perspective PDF Author: Jorge Quiroz
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 68

Get Book Here

Book Description

The Empirical Regularities of the Real Exchange Rate from a Competitive Perspective

The Empirical Regularities of the Real Exchange Rate from a Competitive Perspective PDF Author: Jorge Quiroz
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 68

Get Book Here

Book Description


Exchange Rate Theory and Practice

Exchange Rate Theory and Practice PDF Author: John F. Bilson
Publisher: University of Chicago Press
ISBN: 0226050998
Category : Business & Economics
Languages : en
Pages : 542

Get Book Here

Book Description
This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.

The Dynamics of Real Asset Prices, the Real Exchange Rate, Trade Reforms and Foreign Capital Inflows

The Dynamics of Real Asset Prices, the Real Exchange Rate, Trade Reforms and Foreign Capital Inflows PDF Author: Felipe Morandé
Publisher:
ISBN:
Category : Chile
Languages : en
Pages : 82

Get Book Here

Book Description


The Monetary Approach to the Balance of Payments

The Monetary Approach to the Balance of Payments PDF Author: Jacob Frenkel
Publisher: Routledge
ISBN: 1135043493
Category : Business & Economics
Languages : en
Pages : 389

Get Book Here

Book Description
This book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a return to the historical traditions of international monetary theory after some thirty years of departure from them – a departure occasioned by the international collapse of the 1930s, the Keynesian Revolution and a long period of war and post-war reconstruction in which the international monetary system was fragmented by exchange controls, currency inconvertibility and controls over international trade and capital movements.

An Empirical Assessment of the Exchange Rate Pass-through in Mozambique

An Empirical Assessment of the Exchange Rate Pass-through in Mozambique PDF 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.

Exchange Rate Misalignment in Developing Countries

Exchange Rate Misalignment in Developing Countries PDF Author: Sebastian Edwards
Publisher: Johns Hopkins University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 110

Get Book Here

Book Description
This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.

The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies

The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies PDF Author: Mr.Jerome L. Stein
Publisher: International Monetary Fund
ISBN: 1451955146
Category : Business & Economics
Languages : en
Pages : 46

Get Book Here

Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Exchange Rate Expectations

Exchange Rate Expectations PDF Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 145197020X
Category : Business & Economics
Languages : en
Pages : 36

Get Book Here

Book Description
This paper presents a brief survey of the empirical literature on survey-based exchange rate expectations. The literature in general supports the presence of a non-zero risk premium and rejects the hypothesis of rational expectations. The crucial result is that, while short-run expectations tend to move away from some long-run “normal” values, long-run expectations tend to regress toward them. If this nature of short-run expectations increases the volatility of exchange rate movements, there may be a basis for some official measure to minimize short-run exchange rate movements.

The Modern Hyperinflation Cycle: Some New Empirical Regularities

The Modern Hyperinflation Cycle: Some New Empirical Regularities PDF Author: Jose Saboin
Publisher: International Monetary Fund
ISBN: 1484385381
Category : Business & Economics
Languages : en
Pages : 46

Get Book Here

Book Description
Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this paper contribute to the literature of modern hyperinflations in that these cycles occur in contexts where there are (i) depressed economic freedoms, (ii) deteriorated socioeconomic conditions and rule of law, as well as (iii) high levels of domestic conflictivity and government instability. Despite social infraestructure factors improve during stabilization, they keep being substantially lower than the respresentative non-hyperinflation country, suggesting an important role for them in the occurrence of modern hypeinflations. Finally, the role of international financial assistance in stabilization was studied, noting that (i) a clear majority of hyperinflation countries used it, further improving their (ii) economic freedoms, and allowing themselves (iii) greater fiscal flexibility and (iv) more exchange rate stability.

The Role of Distortions and Market Imperfections in Real Exchange Rate Determination

The Role of Distortions and Market Imperfections in Real Exchange Rate Determination PDF Author: Jorge Quiroz
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 98

Get Book Here

Book Description