|
New evidence connnecting exchange rates to business cycles
|
Virtually every theoretical model of exchange rates predicts that the real exchange rate between two countries (with floating nominal exchange rates) is correlated with the ratio of business-cycle conditions in the two countries. Yet almost no empirical evidence exists to support this prediction of the models. In fact, there is little empirical evidence that ties real exchange rates to any underlying economic conditions. Some well-known studies have concluded that exchange rates appear to have "a life of their own," perhaps moving with speculators' expectations far more than with changes in ...
Related newspaper, magazine, and trade journal articles from HighBeam Research
(Including press releases, facts, information, and biographies)
|
The response of real exchange rates to various economic shocks.
; ...Substantial fluctuations in real exchange rates, i.e., deviations from purchasing...interpreting the movements of the real exchange rates. Although, studies conducted...evidence indicates that the real exchange rates of many countries are likely...
|
|
Is there non-linear real exchange rate adjustment for the Asian economies?
; ...1997) examine mainly OECD real exchange rates and find that non-linearities...presence of non-linearities in real exchange rates is often attributed to the...period 1973Q2 to 2001Q1, eleven real exchange rates are analysed using the smooth...
|
|
|
Price indices and nonlinear mean-reversion of real exchange rates.
; ...nonlinear mean reversion of real exchange rates? Do prices or exchange-rate...PPP and the stationarity of real exchange rates. Empirically, existing evidence...nonlinear dynamics of TPI-based real exchange rates. Several authors have applied...
|
|
Real Exchange Rate Determination in Eastern Europe.(Czech Republic; Slovenia)
; ...and virtually meaningless real exchange rates contributed to an immense...role and determination of real exchange rates during the process of macroeconomic...consequences of movements in real exchange rates, as well as their importance...
|
|
RANDOM WALKS AND HALF-LIVES IN CHILEAN AND MEXICAN PESO REAL EXCHANGE RATES: 1980 - 2003
; ...contributes to mean reversion in real exchange rates. This paper studies the Chilean...CLP) and Mexican peso (MXN) real exchange rates over 1980-2003. Three datasets...half-lives, random walks, real exchange rates, unit roots I. Introduction...
|
|
|
Sources of real exchange-rate fluctuations: empirical evidence from four Pacific Basin countries.
; ...hypothesis that the logarithms of real exchange rates appear to be well-described...approach, the behavior of real exchange rates since the collapse of Bretton...Huizinga [13] suggests that real exchange rates contain both permanent and...
|
|
Parity reversion in real exchange rates: fast, slow, or not at all?(analysis of purchasing power parity )
; ...tackled in this paper: Do real exchange rates really display parity-reverting...developments? Does the behavior of real exchange rates differ among developed and...inconsistent with a unit root in real exchange rates. The reason for this is that...
|
|
Real and nominal determinants of real exchange rates in Latin America: short-run dynamics and long-run equilibrium.
; I. INTRODUCTION Real exchange rates have fluctuated widely in many...Woods regime in 1973. Because real exchange rates have important effects on production...responsible for variations in real exchange rates. In particular, it is useful...
|
|
Real exchange rate volatility and economic openness: theory and evidence.
; ...integration provide more stable real exchange rates even in the absence of a monetary...tends to provide more stable real exchange rates, while intercontinental exchange...should exhibit less volatile real exchange rates. The intuition for this effect...
|
|
|
How Sure Are We about Purchasing Power Parity? Panel Evidence with the Null of Stationary Real Exchange Rates.(Statistical Data Included)
; ...reversion in industrial countries' real exchange rates in a setup that accounts naturally...to hold in the long run, real exchange rates must be stationary. Permanent...from one another. Whether real exchange rates are stationary or nonstationary...
|
For more facts and information,
see all results
