Market Structure And The Persistence Of Sectoral Real Exchange Rates

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Market Structure and the Persistence of Sectoral Real Exchange Rates

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Author : Yin-Wong Cheung
Publisher :
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)

Book Synopsis Market Structure and the Persistence of Sectoral Real Exchange Rates by : Yin-Wong Cheung

Download or read book Market Structure and the Persistence of Sectoral Real Exchange Rates written by Yin-Wong Cheung and published by . This book was released on 1999 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the relationship between market structure and the persistence of U.S. dollar-based sectoral real exchange rates for fourteen OECD countries. Our empirical results based on disaggregated data suggest that differences in market structure significantly determine the rates at which deviations from sectoral purchasing power parity decay. Specifically, industries with a larger price-cost margin are found to exhibit slower parity reversion of their sectoral real exchange rates. Further, as the degree of intra-industry trade activity increases, sectoral real exchange rate persistence becomes more pronounced. These findings imply that an imperfectly competitive market structure contributes to the well-documented persistence in real exchange rates.

Essays in International Finance and Macroeconomics

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Author : Eiji Fujii
Publisher :
ISBN 13 :
Total Pages : 242 pages
Book Rating : 4.:/5 (321 download)

Book Synopsis Essays in International Finance and Macroeconomics by : Eiji Fujii

Download or read book Essays in International Finance and Macroeconomics written by Eiji Fujii and published by . This book was released on 1999 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Each of the three essays composing this dissertation investigates important economic and econometric issues in international finance and macroeconomics. The first essay, “Market Structure and the Persistence of Sectoral Deviations from Purchasing Power Parity,” examines the relationship between market structure and the persistence of the dollar-based sectoral real exchange rates for fourteen OECD countries. The empirical results based on disaggregated data suggest that differences in market structure significantly determine the rates at which deviations from sectoral purchasing power parity decay. Based on the findings, I argue that an imperfectly competitive market structure is an important source of the well-documented persistence in real exchange rates.

Market Structure and the Persistence of Sectoral Real Exchange Rates

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Author : Yin-Wong Cheung
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (321 download)

Book Synopsis Market Structure and the Persistence of Sectoral Real Exchange Rates by : Yin-Wong Cheung

Download or read book Market Structure and the Persistence of Sectoral Real Exchange Rates written by Yin-Wong Cheung and published by . This book was released on 1999 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exchange Rate Economics

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Author : Ronald MacDonald
Publisher : Routledge
ISBN 13 : 1134838220
Total Pages : 334 pages
Book Rating : 4.1/5 (348 download)

Book Synopsis Exchange Rate Economics by : Ronald MacDonald

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

PPP Strikes Back

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Author : Mr. Haroon Mumtaz
Publisher : International Monetary Fund
ISBN 13 : 1451895534
Total Pages : 43 pages
Book Rating : 4.4/5 (518 download)

Book Synopsis PPP Strikes Back by : Mr. Haroon Mumtaz

Download or read book PPP Strikes Back written by Mr. Haroon Mumtaz and published by International Monetary Fund. This book was released on 2003-04-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate half-life fall dramatically, to little more than one year, or significantly below Rogoff''s "consensus view" of three to five years. We show that corrected estimates are consistent with plausible nominal rigidities, thus, arguably, solving the PPP puzzle.

IMF Staff Papers, Volume 47, Special Issue, IMF Annual Research Conference,

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Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
ISBN 13 : 1451963092
Total Pages : 236 pages
Book Rating : 4.4/5 (519 download)

Book Synopsis IMF Staff Papers, Volume 47, Special Issue, IMF Annual Research Conference, by : Mr.Robert P. Flood

Download or read book IMF Staff Papers, Volume 47, Special Issue, IMF Annual Research Conference, written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 2001-11-28 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a broad overview of postwar analytical thinking on international macroeconomics, culminating in a more detailed discussion of recent progress. The paper reviews important empirical evidence that has inspired alternative modeling approaches, as well as theoretical and policy considerations behind developments in the field. The paper presents an empirical study of fiscal policy in countries with extreme monetary regimes. It also examines members of multilateral currency unions, dollarized countries that officially use the money of another country, and countries using currency boards.

International Dimensions of Monetary Policy

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Author : Jordi Galí
Publisher : University of Chicago Press
ISBN 13 : 0226278875
Total Pages : 663 pages
Book Rating : 4.2/5 (262 download)

Book Synopsis International Dimensions of Monetary Policy by : Jordi Galí

Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.

Knowledge, Information, and Expectations in Modern Macroeconomics

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Author : Philippe Aghion
Publisher : Princeton University Press
ISBN 13 : 0691223939
Total Pages : pages
Book Rating : 4.6/5 (912 download)

Book Synopsis Knowledge, Information, and Expectations in Modern Macroeconomics by : Philippe Aghion

Download or read book Knowledge, Information, and Expectations in Modern Macroeconomics written by Philippe Aghion and published by Princeton University Press. This book was released on 2021-01-12 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at which new technologies arise and information about markets is dispersed, information imperfections, and the heterogeneity of beliefs as determinants of an economy's performance. The contributions, which represent a breadth of contemporary theoretical approaches, cover topics including the real effects of monetary disturbances, difficulties in expectations formation, structural factors in unemployment, and sources of technical progress. Based on an October 2001 conference honoring Phelps, this incomparable volume provides the most comprehensive and authoritative account in years of the present state of macroeconomics while also pointing to its future. The fifteen chapters are by the editors and by Daron Acemoglu, Jess Benhabib, Guillermo A. Calvo, Oya Celasun, Michael D. Goldberg, Bruce Greenwald, James J. Heckman, Bart Hobijn, Peter Howitt, Hehui Jin, Charles I. Jones, Michael Kumhof, Mordecai Kurz, David Laibson, Lars Ljungqvist, N. Gregory Mankiw, Dale T. Mortensen, Maurizio Motolese, Stephen Nickell, Luca Nunziata, Wolfgang Ochel, Christopher A. Pissarides, Glenda Quintini, Ricardo Reis, Andrea Repetto, Thomas J. Sargent, Jeremy Tobacman, and Gianluca Violante. Commenting are Olivier J. Blanchard, Jean-Paul Fitoussi, Mark Gertler, Robert E. Hall, Robert E. Lucas, Jr., David H. Papell, Robert A. Pollak, Robert M. Solow, Nancy L. Stokey, and Lars E. O. Svensson. Also included are reflections by Phelps, a preface by Paul A. Samuelson, and the editors' introduction.

Exchange Rates and Macroeconomic Dynamics

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Author : P. Karadeloglou
Publisher : Springer
ISBN 13 : 0230582699
Total Pages : 255 pages
Book Rating : 4.2/5 (35 download)

Book Synopsis Exchange Rates and Macroeconomic Dynamics by : P. Karadeloglou

Download or read book Exchange Rates and Macroeconomic Dynamics written by P. Karadeloglou and published by Springer. This book was released on 2008-02-13 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the PPP persistence puzzle, and econometric aspects of exchange rate dynamics and their implications. It also explores the importance of exchange rate dynamics in the pass-through effects (PTE) and the econometric aspects of the exchange rates dynamics linked to structural shocks on different economies.

Purchasing Power Parity and Real Exchange Rates

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Author : Mark P. Taylor
Publisher : Routledge
ISBN 13 : 1317988191
Total Pages : 434 pages
Book Rating : 4.3/5 (179 download)

Book Synopsis Purchasing Power Parity and Real Exchange Rates by : Mark P. Taylor

Download or read book Purchasing Power Parity and Real Exchange Rates written by Mark P. Taylor and published by Routledge. This book was released on 2013-09-13 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term Purchasing Power Parity may date from the early twentieth century, when it was coined by the Swedish economist Gustav Cassel, but the underlying concept had been enjoying varying degrees of success since its development in sixteenth century Spain. Even towards the end of the twentieth century, and especially since the breakdown of the Bretton Woods system of fixed exchange rates, PPP and the stability of real exchange rates continued to be the subject of academic debate. This volume brings together essays covering aspects of current thinking on Purchasing Power Parity, from the various ways in which to test for its existence, to its appearance in different economies around the world, to examinations of the explanations given when PPP does not appear to hold This book was published as a special issue of Applied Financial Economics. The academic editor of this journal is Mark P. Taylor.

Working Paper Series

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Author :
Publisher :
ISBN 13 :
Total Pages : 596 pages
Book Rating : 4.F/5 ( download)

Book Synopsis Working Paper Series by :

Download or read book Working Paper Series written by and published by . This book was released on 2001 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exchange Rate Economics

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Author : Ronald MacDonald
Publisher : Psychology Press
ISBN 13 : 0415125510
Total Pages : 465 pages
Book Rating : 4.4/5 (151 download)

Book Synopsis Exchange Rate Economics by : Ronald MacDonald

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Psychology Press. This book was released on 2007 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the influence of fiscal policy on exchange rates, recent development in the econometric modelling of exchange rates, and exchange rate modelling for developing countries.

The Princeton Encyclopedia of the World Economy. (Two Volume Set)

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Author : Kenneth A. Reinert
Publisher : Princeton University Press
ISBN 13 : 9780691128122
Total Pages : 1338 pages
Book Rating : 4.1/5 (281 download)

Book Synopsis The Princeton Encyclopedia of the World Economy. (Two Volume Set) by : Kenneth A. Reinert

Download or read book The Princeton Encyclopedia of the World Economy. (Two Volume Set) written by Kenneth A. Reinert and published by Princeton University Press. This book was released on 2009 with total page 1338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing economic globalization has made understanding the world economy more important than ever. From trade agreements to offshore outsourcing to foreign aid, this two-volume encyclopedia explains the key elements of the world economy and provides a first step to further research for students and scholars in public policy, international studies, business, and the broader social sciences, as well as for economic policy professionals. Written by an international team of contributors, this comprehensive reference includes more than 300 up-to-date entries covering a wide range of topics in international trade, finance, production, and economic development. These topics include concepts and principles, models and theory, institutions and agreements, policies and instruments, analysis and tools, and sectors and special issues. Each entry includes cross-references and a list of sources for further reading and research. Complete with an index and a table of contents that groups entries by topic, The Princeton Encyclopedia of the World Economy is an essential resource for anyone who needs to better understand the global economy. Features: ? More than 300 alphabetically arranged articles on topics in international trade, finance, production, and economic development International team of contributors Annotated list of further reading with each article Topical list of entries Full index and cross-references Entry categories and sample topics: ? Concepts and principles: globalization, anti-globalization, fair trade, foreign direct investment, international migration, economic development, multinational enterprises Models and theory: Heckscher-Ohlin model, internalization theory, New Trade Theory, North-South trade, Triffin dilemma Institutions and agreements: European Union, International Monetary Fund, World Trade Organization, World Bank, Doha Round, international investment agreements Policies and instruments: dollar standard, international aid, sanctions, tariffs Analysis and tools: exchange rate forecasting, effective protection, monetary policy rules Sectors and special issues: child labor, corporate governance, the digital divide, health and globalization, illegal drugs trade, petroleum, steel

Currencies, Commodities and Consumption

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Author : Kenneth W. Clements
Publisher : Cambridge University Press
ISBN 13 : 110701476X
Total Pages : 401 pages
Book Rating : 4.1/5 (7 download)

Book Synopsis Currencies, Commodities and Consumption by : Kenneth W. Clements

Download or read book Currencies, Commodities and Consumption written by Kenneth W. Clements and published by Cambridge University Press. This book was released on 2013-01-31 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses economic issues associated with exchange rates, commodity prices, the economic size of countries and alternatives to PPP exchange rates.

Computational Methods in Decision-Making, Economics and Finance

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Author : Erricos John Kontoghiorghes
Publisher : Springer Science & Business Media
ISBN 13 : 1475736134
Total Pages : 626 pages
Book Rating : 4.4/5 (757 download)

Book Synopsis Computational Methods in Decision-Making, Economics and Finance by : Erricos John Kontoghiorghes

Download or read book Computational Methods in Decision-Making, Economics and Finance written by Erricos John Kontoghiorghes and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Computing has become essential for the modeling, analysis, and optimization of systems. This book is devoted to algorithms, computational analysis, and decision models. The chapters are organized in two parts: optimization models of decisions and models of pricing and equilibria.

Market Volatility and Foreign Exchange Intervention in EMEs

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Author : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Publisher :
ISBN 13 : 9789291319626
Total Pages : 0 pages
Book Rating : 4.3/5 (196 download)

Book Synopsis Market Volatility and Foreign Exchange Intervention in EMEs by : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico

Download or read book Market Volatility and Foreign Exchange Intervention in EMEs written by Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Prices, Wholesale and Retail ...

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Author : United States. Bureau of Labor Statistics
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.3/5 (91 download)

Book Synopsis Prices, Wholesale and Retail ... by : United States. Bureau of Labor Statistics

Download or read book Prices, Wholesale and Retail ... written by United States. Bureau of Labor Statistics and published by . This book was released on 1931 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: