Real exchange rate variability and monetary disturbances
نویسندگان
چکیده
منابع مشابه
Monetary Policy, Exchange Rate Flexibility, and Exchange Rate Pass-Through
This paper develops a dynamic general-equilibrium (DGE) model of a small open economy to investigate alternative monetary rules, differing primarily in the degree to which they allow for exchange rate flexibility. A central argument of the paper is that the nature of the trade-off between fixed and floating exchange rates may be quite different in mature industrial economies than in emerging-ma...
متن کاملThe Effect of Real Exchange Rate Variability on Industrial Output: Empirical Evidence from OIC
The exchange rate plays an essential role for firms which export goods and import raw materials. In this paper, the effects of real specific exchange rate fluctuations in imports, exports and aggregate trade on industry sector, chemical and transportation industries outputs in 49 OIC countries were investigated by using a panel data model over 1990-2014. Particularly, this paper presents eviden...
متن کاملMonetary 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 کاملReal Effective Exchange Rate and Trade Performance in Iran
The Purpose of this paper is to investigate the long-run effect of real effective exchange rate on Iran non-oil trade balance. The methodology is based on ARDL procedure that can be applied irrespective of whether the regressors are I(0) or I(1). The results show the real depreciation has not a favorable long - run effect on the non-oil trade balance of Iran from 1979 to 2001.
متن کاملMoney demand instability and real exchange rate persistence in the monetary model of USD¬タモJPY exchange rate
a r t i c l e i n f o This paper proposes a hybrid monetary model of the dollar–yen exchange rate that takes into account factors affecting the conventional monetary model's building blocks. In particular, the hybrid monetary model is based on the incorporation of real stock prices to enhance money demand stability and also, productivity differential, relative government spending, and real oil ...
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: Review of World Economics
سال: 1987
ISSN: 1610-2878,1610-2886
DOI: 10.1007/bf02707753