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Trade, Finance, Specialization, and Synchronization

Trade, Finance, Specialization, and Synchronization »

Source: Trade, Finance, Specialization, and Synchronization

Volume/Issue: 2003/81

Series: IMF Working Papers

Author(s): Jean Imbs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451850383

Keywords: specialization, financial openness, international business cycle, optimal currency area, financial integration, equation, correlations, correlation, bilateral trade, Open Economy Macroeconomics,

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial asset...

PPP Strikes Back

PPP Strikes Back »

Source: PPP Strikes Back : Aggregation and the Real Exchange Rate

Volume/Issue: 2003/68

Series: IMF Working Papers

Author(s): Haroon Mumtaz , Jean Imbs , Morten Ravn , and Helene Rey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451849011

Keywords: Real exchange rate persistence, aggregation, parameter heterogeneity, exchange rate, real exchange rate, exchange rates, real exchange rates, equation, Financial Aspects of Economic Integration, Open Economy Macroeconomics,

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...

Trade, Finance, Specialization, and Synchronization

Trade, Finance, Specialization, and Synchronization »

Volume/Issue: 2003/81

Series: IMF Working Papers

Author(s): Jean Imbs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451850383.001

ISBN: 9781451850383

Keywords: specialization, financial openness, international business cycle, optimal currency area, financial integration, equation, correlations, correlation, bilateral trade, Open Economy Macroeconomics,

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial asset...

PPP Strikes Back
			: Aggregation and the Real Exchange Rate

PPP Strikes Back : Aggregation and the Real Exchange Rate »

Volume/Issue: 2003/68

Series: IMF Working Papers

Author(s): Haroon Mumtaz , Jean Imbs , Morten Ravn , and Helene Rey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451849011.001

ISBN: 9781451849011

Keywords: Real exchange rate persistence, aggregation, parameter heterogeneity, exchange rate, real exchange rate, exchange rates, real exchange rates, equation, Financial Aspects of Economic Integration, Open Economy Macroeconomics,

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...