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Exchange Rate Money And Wages
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Book Synopsis Exchange Rates and Wages in an Integrated World by : Ms.Prachi Mishra
Download or read book Exchange Rates and Wages in an Integrated World written by Ms.Prachi Mishra and published by International Monetary Fund. This book was released on 2009-03-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze how the pass-through from exchange rate to domestic wages depends on the degree of integration between domestic and foreign labor markets. Using data from 66 countries over the period 1981–2005, we find that the elasticity of domestic wages to real exchange rate is 0.1 after a year for countries with high barriers to external labor mobility, but about 0.4 in countries with low barriers to mobility. The results are robust to the inclusion of various controls, different measures of exchange rates, and concepts of labor market integration. These findings call for including labor mobility in macro models of external adjustment.
Book Synopsis Exchange Rate, Money, and Wages by : David A. Grigorian
Download or read book Exchange Rate, Money, and Wages written by David A. Grigorian and published by International Monetary Fund. This book was released on 2004-12 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is the first attempt to look at inflation dynamics and monetary transmission mechanisms in Armenia in the context of a full information model containing three interrelated markets: foreign exchange, money, and labor. Using the vector error correction model (VECM) approach, we find that the exchange rate pass-through to prices is very strong relative to credit, wage, and interest rate channels. The analysis suggests a relatively fast adjustment of prices to long-run disequilibria in the exchange rate market, albeit with initial overshooting of the price level. In addition, we find no evidence of prices responding to changes in money and wages in a statistically significant manner.
Book Synopsis Exchange Rate, Money, and Wages by : David Grigorian
Download or read book Exchange Rate, Money, and Wages written by David Grigorian and published by . This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is the first attempt to look at inflation dynamics and monetary transmission mechanisms in Armenia in the context of a full information model containing three interrelated markets: foreign exchange, money, and labor. Using the vector error correction model (VECM) approach, we find that the exchange rate pass-through to prices is very strong relative to credit, wage, and interest rate channels. The analysis suggests a relatively fast adjustment of prices to long-run disequilibria in the exchange rate market, albeit with initial overshooting of the price level. In addition, we find no evidence of prices responding to changes in money and wages in a statistically significant manner.
Book Synopsis The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities by : Robert Miguel W. K. Kollman
Download or read book The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities written by Robert Miguel W. K. Kollman and published by International Monetary Fund. This book was released on 1997-01-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G-7 effective exchange rates during the post-Bretton Woods era. The model predicts that a positive domestic money supply shock lowers the domestic nominal interest rate, that it raises output and that it leads to a nominal and real depreciation of the country’s currency. Increases in domestic labor productivity and in the world interest rate too are predicted to induce a nominal and real exchange rate depreciation.
Book Synopsis Exchange Rates and Wages by : Linda S. Goldberg
Download or read book Exchange Rates and Wages written by Linda S. Goldberg and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of exchange rate fluctuations across the population is an important issue for increasingly globalized economies. Previous studies using industry aggregate data have found differences across industries in the labor market implications of exchange rates, reporting that industry wages are significantly more responsive than industry employment. We offer an explanation for this paradoxical finding. Using Current Population Survey data for 1976 through 1998, we document that the main mechanism for exchange rate effects on wages occurs through job turnover and the strong consequences this has for the wages of workers undergoing such job transitions. By contrast, workers who remain with the same employer experience little if any wage impacts from exchange rate shocks. In addition, we find that the least educated workers who also have the most frequent job changes shoulder the largest adjustments to exchange rates.
Book Synopsis The Macroeconomic Consequences of Wage Indexation Revisited by : Mr.Esteban Jadresic
Download or read book The Macroeconomic Consequences of Wage Indexation Revisited written by Mr.Esteban Jadresic and published by International Monetary Fund. This book was released on 1998-02-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1970s, there has been considerable research on the macroeconomic consequences of wage indexation. Nonetheless, until recently, this research had not explicitly explored the implications of contracts that index wages to lagged inflation, the usual type of wage indexation observed in practice. Drawing mainly on recent research by the author, this paper examines the consequences of wage indexation to lagged inflation on aggregate wage formation, the cost of disinflation under money- and exchange-rate-based stabilization, the variability of output under alternative shocks and policy regimes, the choice of exchange rate regime, and the level and variability of inflation.
Book Synopsis Exchange Rate Regimes and Location by : Mr.Luca Antonio Ricci
Download or read book Exchange Rate Regimes and Location written by Mr.Luca Antonio Ricci and published by International Monetary Fund. This book was released on 1997-06-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the effects of fixed versus flexible exchange rates on firms’ location choices and on countries’ specialization patterns. In a two-country, two-differentiated-goods monetary model, demand, supply, and monetary (as well as exchange rate) shocks arise after wages are set and prices are optimally chosen. The paper finds that countries are more specialized under flexible than fixed rates, and that the pattern of specialization is not uniquely defined by trade models but depends also on the exchange rate regime. The adoption of fixed exchange rates endogenously increases the desirability of this currency area by reducing the shock asymmetry. These results also shed light on the effects of exchange rate variability on trade.
Book Synopsis Wages and Exchange Rates by : Dag Lindskog
Download or read book Wages and Exchange Rates written by Dag Lindskog and published by Gower Publishing Company, Limited. This book was released on 1985 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Policy, Exchange Rates, and the International System by : W. Max Corden
Download or read book Economic Policy, Exchange Rates, and the International System written by W. Max Corden and published by University of Chicago Press. This book was released on 1994 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: This account of exchange rates in the international monetary system considers the issues in international macroeconomics. Using theoretical models of international economics it explains the effects of various policies and issues in macroeconomics.
Book Synopsis Economic Adjustment and Exchange Rates in Developing Countries by : Sebastian Edwards
Download or read book Economic Adjustment and Exchange Rates in Developing Countries written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses. The volume, divided into four main sections, addresses: the role of exchange rates in stabilization programs and the adjustment process; the importance of exchange rate policy during liberalization reform in developing countries; exchange rate problems relevant and unique to developing countries, illustrated by case studies; and the problems defining, measuring, and identifying determinants of real exchange rates. Authors of individual papers examine the relation between commercial policies and exchange rates, the role of exchange rate policy in stabilization programs, the effectiveness of devaluations as a policy tool, and the interaction between exchange rate terms of trade an capital flow. This research will not only prove crucial to our understanding of the role of exchange rates in developing countries, but will clearly set the standard for future work in the field.
Book Synopsis Inflation, Exchange Rates, and the World Economy by : W. Max Corden
Download or read book Inflation, Exchange Rates, and the World Economy written by W. Max Corden and published by University of Chicago Press. This book was released on 1986-02-15 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: The previous editions of this work were praised as lucid and insightful introductions to a complicated subject. This third edition incorporates major additions to update the survey while retaining its clarity. Selected from the second edition are essential chapters on developments in balance-of-payments theories, inflation and exchange rates, the international adjustment to the oil price rise, and monetary integration in Europe. In three new chapters, Corden considers the international transmission of economic disturbances, the international macrosystem, and macroeconomic policy coordination.
Book Synopsis Real Wages and Real Exchange Rates in the Philippines, 1956-78 by : Deepak Lal
Download or read book Real Wages and Real Exchange Rates in the Philippines, 1956-78 written by Deepak Lal and published by . This book was released on 1983 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard trade-theoretic Stolper-Samuelson-Rybczynski model is used in an attempt to explain movements of real wages in the Philippines. In view of the factor intensities in the Philippines, commodities are aggregated into two composite goods, traded and non-traded. The relative price, or real exchange rate, of these goods is shown to have been an important determinant, with changes in relative factor supplies of less importance in determining real wages. A conventional two-sector model is set out, which distinguishes between the short- and long-run effects in terms of the quasi-fixity of sector specific capital. A simple regression model is estimated and seems to provide a fairly good explanation of what has hitherto appeared to be a puzzling feature of post-war Philippines economic performance: high growth rates of output and employment accompanied by declining real wages, in turn being associated with a rising incidence of poverty, in at least two periods. The final section of the paper briefly outlines the sources of the movements in the real exchange rate, leading to these real wage movements, and draws some tentative conclusions for economic policy.
Book Synopsis Money, Exchange Rates, and Output by : Guillermo A. Calvo
Download or read book Money, Exchange Rates, and Output written by Guillermo A. Calvo and published by MIT Press. This book was released on 1996 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Guillermo Calvo, who foresaw the financial crisis that followed the devaluationn of Mexico's peso, has spent much of his career thinking beyond the conventional wisdom. In a quiet and understated way, Calvo has made seminal contributions to several major research areas in macroeconomics, particularly monetary policy, exchange rates, public debt, and stabilization in Latin America and post-communist countries. Money, Exchange Rates, and Output brings together these contributions in a broad selection of the author's work over the past two decades. There are introductions to each section, and an introduction to the entire collection that outlines the connections throughout and survey the current state of macroeconomic theory. Specific issues covered are predetermined exchange rates, currency substitution, domestic public debt and seigniorage, and stabilizing transition economics.
Book Synopsis Macroeconomics and the Wage Bargain by : Wendy Carlin
Download or read book Macroeconomics and the Wage Bargain written by Wendy Carlin and published by Oxford University Press, USA. This book was released on 1990 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors present a new treatment of macroeconomics. Its key characteristic is the use of wage bargaining and price-setting under imperfect competition, making product and labour market assumptions closer to the real world.
Book Synopsis Exchange Rates, Prices, and Wages, 1277-2008 by : Rodney Edvinsson
Download or read book Exchange Rates, Prices, and Wages, 1277-2008 written by Rodney Edvinsson and published by . This book was released on 2010 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labour Markets, Wage Indexation and Exchange Rate Policy by : Jouko Vilmunen
Download or read book Labour Markets, Wage Indexation and Exchange Rate Policy written by Jouko Vilmunen and published by . This book was released on 1992 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rates, Prices, and Wages, 1277-2008 by : Rodney Edvinsson
Download or read book Exchange Rates, Prices, and Wages, 1277-2008 written by Rodney Edvinsson and published by Ekerlids Forlag. This book was released on 2010 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt:
