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Real Exchange Rates and Fundamentals

Real Exchange Rates and Fundamentals »

Source: Real Exchange Rates and Fundamentals : A Cross-Country Perspective

Volume/Issue: 2008/13

Series: IMF Working Papers

Author(s): Luca Ricci , Jaewoo Lee , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

ISBN: 9781451868753

Keywords: equilibrium real exchange rate, Balassa-Samuelson effect, exchange rate, exchange rates, real exchange rate, net foreign assets, foreign assets,

This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set o...

Stock Markets and the Real Exchange Rate

Stock Markets and the Real Exchange Rate »

Source: Stock Markets and the Real Exchange Rate : An Intertemporal Approach

Volume/Issue: 2003/109

Series: IMF Working Papers

Author(s): Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451853230

Keywords: Real exchange rate, risky assets, Balassa-Samuelson effect, exchange rate, hedging, International Finance: General, Open Economy Macroeconomics,

The paper presents an N-country model with stock markets, in which a closed-form solution for the real exchange rate is derived. Risky asset prices and allocation of risky assets among countries are determined endo...

Convergence of Relative Prices and Inflation in Central and Eastern Europe

Convergence of Relative Prices and Inflation in Central and Eastern Europe »

Source: Convergence of Relative Prices and Inflation in Central and Eastern Europe

Volume/Issue: 2001/124

Series: IMF Working Papers

Author(s): Tomás Holub , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451854725

Keywords: Relative price differentiation, Balassa-Samuelson effect, relative price, price level, relative prices, Socialist Systems and Transitional Economies: Prices,

The paper assesses inflation risks resulting from the convergence of structures of relative prices in Central and Eastern European (CEE) countries toward the European Union (EU). The basic idea of the paper is that...

Long-Run Exchange Rate Dynamics

Long-Run Exchange Rate Dynamics »

Source: Long-Run Exchange Rate Dynamics : A Panel Data Study

Volume/Issue: 1999/50

Series: IMF Working Papers

Author(s): Karl Habermeier , and Mario Mesquita

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1999

ISBN: 9781451846959

Keywords: Exchange Rates, Panel Data Econometrics, Purchasing Power Parity (PPP), Balassa-Samuelson Effect, Terms of Trade, exchange rate, real exchange rates, real exchange rate, inflation

Long-run movements of real exchange rates are studied using a panel data set comprising 51 economies. The purchasing power parity hypothesis (PPP) is examined first using unit root tests. It is found that PPP does...

Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation

Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation »

Source: Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation

Volume/Issue: 2004/207

Series: IMF Working Papers

Author(s): Vladimir Klyuev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451874686

Keywords: Balassa-Samuelson effect, two-sector growth model, capital mobility, capital intensity, services sector, General Aggregative Models: Neoclassical, Economic Growth of Open Economies, One, Two, and Multisector Growth Models,

This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity...

The U.S. Dollar and the Trade Deficit

The U.S. Dollar and the Trade Deficit »

Source: The U.S. Dollar and the Trade Deficit : What Accounts for the Late 1990's?

Volume/Issue: 2003/194

Series: IMF Working Papers

Author(s): Benjamin Hunt , and Alessandro Rebucci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451859881

Keywords: Balassa-Samuelson Effect, Learning, Productivity Shocks, Real Exchange Rate, Risk Premium Shocks, Trade Balance, U.S. Economy, exchange rate, intermediate goods, elasticity of substitution

Based on a version of the IMF’s new Global Economic Model (GEM), calibrated to analyze macroeconomic interdependence between the United States and the rest of the world, this paper asks to what extent an asy...

Real Exchange Rates and Fundamentals
			: A Cross-Country Perspective

Real Exchange Rates and Fundamentals : A Cross-Country Perspective »

Volume/Issue: 2008/13

Series: IMF Working Papers

Author(s): Luca Ricci , Jaewoo Lee , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

DOI: http://dx.doi.org/10.5089/9781451868753.001

ISBN: 9781451868753

Keywords: equilibrium real exchange rate, Balassa-Samuelson effect, exchange rate, exchange rates, real exchange rate, net foreign assets, foreign assets,

This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set o...

Stock Markets and the Real Exchange Rate
			: An Intertemporal Approach

Stock Markets and the Real Exchange Rate : An Intertemporal Approach »

Volume/Issue: 2003/109

Series: IMF Working Papers

Author(s): Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

DOI: http://dx.doi.org/10.5089/9781451853230.001

ISBN: 9781451853230

Keywords: Real exchange rate, risky assets, Balassa-Samuelson effect, exchange rate, hedging, International Finance: General, Open Economy Macroeconomics,

The paper presents an N-country model with stock markets, in which a closed-form solution for the real exchange rate is derived. Risky asset prices and allocation of risky assets among countries are determined endo...

Convergence of Relative Prices and Inflation in Central and Eastern Europe

Convergence of Relative Prices and Inflation in Central and Eastern Europe »

Volume/Issue: 2001/124

Series: IMF Working Papers

Author(s): Tomás Holub , and Martin Cihak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

DOI: http://dx.doi.org/10.5089/9781451854725.001

ISBN: 9781451854725

Keywords: Relative price differentiation, Balassa-Samuelson effect, relative price, price level, relative prices, Socialist Systems and Transitional Economies: Prices,

The paper assesses inflation risks resulting from the convergence of structures of relative prices in Central and Eastern European (CEE) countries toward the European Union (EU). The basic idea of the paper is that...

Long-Run Exchange Rate Dynamics
			: A Panel Data Study

Long-Run Exchange Rate Dynamics : A Panel Data Study »

Volume/Issue: 1999/50

Series: IMF Working Papers

Author(s): Karl Habermeier , and Mario Mesquita

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1999

DOI: http://dx.doi.org/10.5089/9781451846959.001

ISBN: 9781451846959

Keywords: Exchange Rates, Panel Data Econometrics, Purchasing Power Parity (PPP), Balassa-Samuelson Effect, Terms of Trade, exchange rate, real exchange rates, real exchange rate, inflation

Long-run movements of real exchange rates are studied using a panel data set comprising 51 economies. The purchasing power parity hypothesis (PPP) is examined first using unit root tests. It is found that PPP does...