Do Exchange Rates Absorb Demand Shocks at the ZLB?
نویسندگان
چکیده
منابع مشابه
Monetary Shocks and Real Exchange Rates
Many explanations of the stylized facts concerning real exchange rate movements focus on monetary shocks, but it is often found empirically that monetary shocks are unimportant. I provide evidence that is contrary to this empirical finding. Using over 100 years of data, I estimate the contribution of various shocks to explaining variation in the real pound-dollar exchange rate. Monetary shocks ...
متن کاملHow do oil producers respond to oil demand shocks ? ✯
This paper analyzes the response of international oil producers to demand-induced changes in the real price of oil during 1975–2011. The goal is to disentangle fluctuations in OPEC and non-OPEC production and to derive consistent estimates of the short-run price elasticity of crude oil supply at the country level. I find that oil producers hardly respond to demand shocks within the same month, ...
متن کاملThe Incidence of Local Labor Demand Shocks
Low-skill workers are comparatively immobile. When labor demand slumps in a city, college-educated workers tend to relocate whereas non-college workers are disproportionately likely to remain to face declining wages and employment. A standard explanation of these facts is that mobility is more costly for low-skill workers. This paper proposes and tests an alternative explanation, which is that ...
متن کاملDemand Shocks and Economic Fluctuations
This paper studies conditions under which demand-side shocks can generate realistic business cycles in RBC models. Although highly persistent demand shocks are necessary for generating procyclical investment, variable capacity utilization and habit formation can reduce the required degree of persistence. Keywords: Demand Shocks; Halls Residual; Real Business Cycles; Crowding Out; Investment Dy...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2021
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.3844296