Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Real Exchange Rate And Output Variability
Download Real Exchange Rate And Output Variability full books in PDF, epub, and Kindle. Read online Real Exchange Rate And Output Variability ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Real Exchange Rate and Output Variability by : Bankim Chadha
Download or read book Real Exchange Rate and Output Variability written by Bankim Chadha and published by . This book was released on 2006 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationships between the degree of price stickiness (inflexibility), the variability of output, and that of the real exchange rate in an open economy under flexible exchange rates and capital mobility. We show that there exists, in general, a critical degree of price inflexibility below which increased inflexibility of prices reduces the variability of output. We also show that, in general, as prices become more inflexible, the relationship between the variability of the real exchange rate and that of output will be nonmonotonic. That is, as the variability of the real exchange rate increases the variability of output will decline up to a point, and only then increase.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451956770 Total Pages :228 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.
Book Synopsis On the Causes and Effects of Real Exchange Rate Variability by : Rogelio Arellano-Cadena
Download or read book On the Causes and Effects of Real Exchange Rate Variability written by Rogelio Arellano-Cadena and published by . This book was released on 1990 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Volatility, Pricing to Market and Trade Smoothing by : Mr.Peter B. Clark
Download or read book Exchange Rate Volatility, Pricing to Market and Trade Smoothing written by Mr.Peter B. Clark and published by International Monetary Fund. This book was released on 1997-10-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
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 Real Exchange Rate Fluctuations and the Business Cycle by : Mr.Bankim Chadha
Download or read book Real Exchange Rate Fluctuations and the Business Cycle written by Mr.Bankim Chadha and published by International Monetary Fund. This book was released on 1996-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the relationship between the real exchange rate and the business cycle in Japan during the floating rate period. A structural vector autoregression is used to identify different types of macroeconomic shocks that determine fluctuations in aggregate output and the real exchange rate. Relative nominal and real demand shocks are found to be the main determinants of variation in real exchange rate changes, while relative output growth is driven primarily by supply shocks. Historical decompositions suggest that the sharp appreciations of the yen in 1993 and 1995 and its subsequent depreciation can be attributed primarily to relative nominal shocks.
Book Synopsis Effects of Exchange Rate Variability on International Trade and Other Economic Variables by : Victoria S. Farrell
Download or read book Effects of Exchange Rate Variability on International Trade and Other Economic Variables written by Victoria S. Farrell and published by . This book was released on 1983 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Uncertainty, Flexible Exchange Rates, and Agglomeration by : Mr.Luca Antonio Ricci
Download or read book Uncertainty, Flexible Exchange Rates, and Agglomeration written by Mr.Luca Antonio Ricci and published by International Monetary Fund. This book was released on 1998-02-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that exchange rate variability promotes agglomeration of economic activity. Under flexible rates, firms located in large markets have lower variability of sales, reinforcing concentration of firms there. Empirical evidence on OECD countries demonstrates (1) that the negative effect of country size on variability of industrial production is stronger after the 1973 collapse of fixed rates and (2) for small (large) countries, exchange rates variability has a long-run negative (positive) effect on net inward FDI flows. Two implications arise: creating a currency area fosters agglomeration in the area, and a two-stage EMU may exacerbate the current uneven regional development.
Book Synopsis Some Implications for Monetary Policy of Uncertain Exchange Rate Pass-Through by : Mr.Benjamin Hunt
Download or read book Some Implications for Monetary Policy of Uncertain Exchange Rate Pass-Through written by Mr.Benjamin Hunt and published by International Monetary Fund. This book was released on 2003-03-04 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper uses MULTIMOD to examine the implications of uncertain exchange rate pass-through for the conduct of monetary policy. From the policymaker's perspective, uncertainty about exchange rate pass-through implies uncertainty about policy multipliers and the impact of state variables on stabilization objectives. When faced with uncertainty about the strength of exchange rate pass-through, policymakers will make less costly errors by overestimating the strength of pass-through rather than underestimating it. The analysis suggests that pass-through uncertainty of the magnitude considered does not result in efficient policy response coefficients that are smaller than those under certainty.
Book Synopsis On the Instability of Variance Decompositions of the Real Exchange Rate Across Exchange-rate-regimes by : Enrique G. Mendoza
Download or read book On the Instability of Variance Decompositions of the Real Exchange Rate Across Exchange-rate-regimes written by Enrique G. Mendoza and published by . This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Variance decompositions of the Mexico-United States real exchange rate are examined using monthly data on consumer prices and the nominal exchange rate for the period January, 1969 to February, 2000. The results show that the robust result found in industrial-country data that most of the variation of the real exchange rate is due to fluctuations in prices of tradable goods and nominal exchange rates holds only in periods in which Mexico was not under a regime of exchange-rate management. In periods in the sample in which Mexico had a managed exchange-rate regime, the variability of prices of non-tradable goods relative to tradable goods accounts for up to 70 percent of the variability of the peso-dollar real exchange rate.
Book Synopsis Real Exchange Rate Variability by : Sebastian Edwards
Download or read book Real Exchange Rate Variability written by Sebastian Edwards and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The purpose of this paper is to investigate the potential role of monetary and real factors in explaining real exchange rate variability in developing countries. For this purpose two indexes of real effective exchange rate variability that measure short-term and long-term variability were constructed for 30 countries. The results obtained, using a generalized least squares procedures on cross section data, indicate that real exchange rate variability has been affected both by real and monetary factors. In particular it was found that more unstable nominal exchange rate policies were reflected in higher real exchange rate instability in the short-run; more unstable domestic credit policies resulted in higher short-term real exchange rate variability; and more unstable external terms of trade also affected positively the degree of real exchange rate instability.
Book Synopsis Exchange Rate Volatility and Intervention by : Tamim A. Bayoumi
Download or read book Exchange Rate Volatility and Intervention written by Tamim A. Bayoumi and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market by : International Monetary Fund
Download or read book Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-04-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator” variables recently suggested by Federal Reserve officials. In this regard, a careful review of the relevant conceptual distinctions--concerning instruments, targets, indicators, etc.--is required. Finally, the proposal that strategy should be conducted so as to place minimal reliance on quantity variables is given attention, in the context of evidence concerning the merits of an interest rate instrument.
Book Synopsis price flexibility and output volatility by : bernard yeung and giovanni barone-adesi
Download or read book price flexibility and output volatility written by bernard yeung and giovanni barone-adesi and published by . This book was released on 1990 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange-rate Variability and Trade by : Jan Kees Martijn
Download or read book Exchange-rate Variability and Trade written by Jan Kees Martijn and published by Purdue University Press. This book was released on 1993 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains essays on the impact of exchange-rate variability on trade policy and trade flows
Book Synopsis Targeting the Real Exchange Rate by : Mr.Guillermo Calvo
Download or read book Targeting the Real Exchange Rate written by Mr.Guillermo Calvo and published by International Monetary Fund. This book was released on 1994-02-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a theoretical and empirical analysis of policies aimed at setting a more depreciated level of the real exchange rate. An intertemporal optimizing model suggests that, in the absence of changes in fiscal policy, a more depreciated level of the real exchange can only be attained temporarily. This can be achieved by means of higher inflation and/or higher real interest rates, depending on the degree of capital mobility. Evidence for Brazil, Chile, and Colombia supports the model’s prediction that undervalued real exchange rates are associated with higher inflation.
Book Synopsis Real Exchange Rate Variability Under Pegged and Floating Nominal Exchange Rate Systems by : Alan C. Stockman
Download or read book Real Exchange Rate Variability Under Pegged and Floating Nominal Exchange Rate Systems written by Alan C. Stockman and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a new explanation for the greater variability of real exchange rates under pegged than under floating nominal exchange rate systems. The explanation hinges on the propensity of governments to use international trade restrictions and financial restrictions for balance-of-payments purposes under pegged exchange rates. In particular. these restrictions become more likely during periods of time when countries suffer losses of international reserves than might. without policy changes. lead to a balance-of-payments crisis. This covariation of restrictions with reserve changes implies that real exchange rates will vary less under pegged than under floating exchange rates
