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On floating exchange rates, currency depreciation and effective demand: a comment*
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The paper "On floating exchange rates, currency depreciation, and effective demand " by Julio Lopez and Ignacio Perottini (LP 2006 from now on) is rather simple and straightforward, but also middle of the road; mindful of the complexities of our world, which does not allow unequivocal explanations or solutions, the authors state (p. 235):
"It should be noted that when we contend that currency depreciation may be detrimental to effective demand, we are not advancing a general inference ...
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NON-LINEAR AND NON-SYMMETRIC EXCHANGE-RATE ADJUSTMENT: EVIDENCE FROM MEDIUM-AND HIGH-INFLATION COUNTRIES
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Exchange Rates and Business Cycles Across Countries
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; (ProQuest-CSA LLC: denotes formulae omitted.) Modern theories of exchange rate determination typically imply a close relationship between exchange rates and other macroeconomic variables such as output, consumption, and trade flows. The intuition behind this relationship is that, in most models,
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Official Exchange Rate Arrangements and Real Exchange Rate Behavior.(Statistical Data Included)
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; We study the behavior of real exchange rates under various official designations of exchange rate arrangements. Examining many currencies, we find important differences across the designations. Most notably, real exchange rate mean reversion is fastest when nominal exchange rates are officially
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Exchange rate regimes: does what countries say matter?
IMF Staff Papers
; One of the classic readings on the consequences of the choice of an exchange rate regime is surely Michael Mussa's 1986 paper Nominal Exchange Rate Regimes and the Behavior of Real Exchange Rates: Evidence and Implications (Mussa, 1986). On the basis of a wide range of observations drawn from
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An empirical examination of East Asia's pre-crisis pegged exchange rates.(Author abstract)(Report)
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; ... persistence in foreign exchange markets to either the time it takes market traders to act on new information or the autocorrelation of news across countries arising from potential policy coordination. They employ Ito and Roley's (1987) decomposition of the intra-day ...
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