Large Devaluations and the Real Exchange Rate
نویسندگان
چکیده
منابع مشابه
Large Devaluations and the Real Exchange Rate∗
In this paper we argue that the primary force behind the large drop in real exchange rates that occurs after large devaluations is the slow adjustment in the price of nontradable goods and services. Our empirical analysis uses data from five large devaluation episodes: Argentina (2001), Brazil (1999), Korea (1997), Mexico (1994), and Thailand (1997). We conduct a detailed analysis of the Argent...
متن کاملUNIVERSITY OF ROCHESTER Large Devaluations and the Real Exchange Rate
In this paper we argue that the primary force behind the large drop in real exchange rates that occurs after large devaluations is the slow adjustment in the price of nontradable goods and services. Our empirical analysis uses data from five large devaluation episodes: Argentina (2001), Brazil (1999), Korea (1997), Mexico (1994), and Thailand (1997). We conduct a detailed analysis of the Argent...
متن کاملLarge Devaluations and the Real Exchange Rate ∗ Ariel Burstein
This paper argues that the primary force behind the large fall in real exchange rates that occurs after large devaluations is the slow adjustment in the price of nontradable goods and services. Our empirical analysis is based on data from four large devaluation episodes: Mexico (1994), Korea (1997), Brazil (1999), and Argentina (2001). We conduct a more detailed analysis of the Argentina case u...
متن کاملRochester Modeling Exchange Rate Passthrough after Large Devaluations Modeling Exchange Rate Passthrough after Large Devaluations *
Large devaluations are generally associated with large declines in real exchange rates. Burstein, Eichenbaum, and Rebelo (2005) argue that the primary force causing these declines is often the slow adjustment in the price of nontradable goods and services. We develop a model which embodies two complementary forces that account for the large declines in the real exchange rate that occur in the a...
متن کاملModeling Exchange Rate Passthrough After Large Devaluations∗
Large devaluations are generally associated with large declines in real exchange rates. Burstein, Eichenbaum, and Rebelo (2005) argue that the primary force causing these declines is often the slow adjustment in the price of nontradable goods and services. We develop a model which embodies two complementary forces that account for the large declines in the real exchange rate that occur in the a...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2005
ISSN: 0022-3808,1537-534X
DOI: 10.1086/431254