Structural Change And Exchange Rate Dynamics

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Structural Change And Exchange Rate Dynamics

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Author : Paul J.J. Welfens
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-12-06

Structural Change And Exchange Rate Dynamics written by Paul J.J. Welfens and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-06 with Political Science categories.

Structural change, economic growth and adequate exchange rate adjustment are key challenges in the context of EU eastern enlargement as are consistent macroeconomic policies. The authors focus on sectoral adjustment across industries in catching-up countries and explain changes in the composition of output – this includes new aspects of the Chenery model. They describe and analyze the spatial pattern of specialization and adjustment in many countries. Theoretical and empirical analysis of foreign direct investment, innovation and structural change shed new light on economic dynamics in Old Europe and New Europe. As regards exchange rate dynamics both traditional aspects (such as the Balassa-Samuelson effect) and new approaches to understanding exchange rate developments are presented. Links between exchange rate changes and innovation are particularly emphasized.

Exchange Rates And Macroeconomic Dynamics

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Author : P. Karadeloglou
language : en
Publisher: Springer
Release Date : 2008-02-13

Exchange Rates And Macroeconomic Dynamics written by P. Karadeloglou and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-02-13 with Business & Economics categories.

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.

Common Trends And Structural Change

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Author : Mr.Torbjorn I. Becker
language : en
Publisher: International Monetary Fund
Release Date : 1999-06-01

Common Trends And Structural Change written by Mr.Torbjorn I. Becker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-06-01 with Business & Economics categories.

This paper uses a common trends model to study how prices, the black market exchange rate, money, and real output have developed over a period covering both pre- and post-revolution Iranian data. It is shown that monetary shocks have significant short-run effects on output, but permanent effects on the price level and exchange rate, that is, expansionary monetary policy is not consistent with achieving low inflation or a stable unified exchange rate. The real shocks generate higher growth and lower inflation, suggesting that supply-side policies are consistent with the goals in the Islamic Republic of Iran’s second five-year development plan.

Real Exchange Rate Dynamics In Transition Economies

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Author : Fabrizio Coricelli
language : en
Publisher:
Release Date : 2001

Real Exchange Rate Dynamics In Transition Economies written by Fabrizio Coricelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Foreign exchange rates categories.

Common Trends And Structural Change

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Author : Torbjorn Becker
language : en
Publisher:
Release Date : 2006

Common Trends And Structural Change written by Torbjorn Becker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

This paper uses a common trends model to study how prices, the black market exchange rate, money, and real output have developed over a period covering both pre- and post-revolution Iranian data. It is shown that monetary shocks have significant short-run effects on output, but permanent effects on the price level and exchange rate, that is, expansionary monetary policy is not consistent with achieving low inflation or a stable unified exchange rate. The real shocks generate higher growth and lower inflation, suggesting that supply-side policies are consistent with the goals in the Islamic Republic of Iran's second five-year development plan.

Financial Liberalization Structural Change And Real Exchange Rate Appreciations

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Author : Carlos Urrutia
language : en
Publisher: International Monetary Fund
Release Date : 2010-03-01

Financial Liberalization Structural Change And Real Exchange Rate Appreciations written by Carlos Urrutia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-01 with Business & Economics categories.

We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in foreign markets. These two mechanisms account for 60 percent of the decline in the relative price of tradable goods and explain a large fraction of the reallocation of labor across sectors. We do not find a significant role for migration remittances, foreign reserves accumulation, government spending, terms of trade, or import tariffs.

Exchange Rate Dynamics

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Author : Martin D. D. Evans
language : en
Publisher: Princeton University Press
Release Date : 2011-03-14

Exchange Rate Dynamics written by Martin D. D. Evans and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-14 with Business & Economics categories.

A comprehensive and in-depth look at exchange-rate dynamics Variations in the foreign exchange market influence all aspects of the world economy, and understanding these dynamics is one of the great challenges of international economics. This book provides a new, comprehensive, and in-depth examination of the standard theories and latest research in exchange-rate economics. Covering a vast swath of theoretical and empirical work, the book explores established theories of exchange-rate determination using macroeconomic fundamentals, and presents unique microbased approaches that combine the insights of microstructure models with the macroeconomic forces driving currency trading. Macroeconomic models have long assumed that agents—households, firms, financial institutions, and central banks—all have the same information about the structure of the economy and therefore hold the same expectations and uncertainties regarding foreign currency returns. Microbased models, however, look at how heterogeneous information influences the trading decisions of agents and becomes embedded in exchange rates. Replicating key features of actual currency markets, these microbased models generate a rich array of empirical predictions concerning trading patterns and exchange-rate dynamics that are strongly supported by data. The models also show how changing macroeconomic conditions exert an influence on short-term exchange-rate dynamics via their impact on currency trading. Designed for graduate courses in international macroeconomics, international finance, and finance, and as a go-to reference for researchers in international economics, Exchange-Rate Dynamics guides readers through a range of literature on exchange-rate determination, offering fresh insights for further reading and research. Comprehensive and in-depth examination of the latest research in exchange-rate economics Outlines theoretical and empirical research across the spectrum of modeling approaches Presents new results on the importance of currency trading in exchange-rate determination Provides new perspectives on long-standing puzzles in exchange-rate economics End-of-chapter questions cement key ideas

The Economics Of Adjustment And Growth

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Author : Pierre-Richard Agénor
language : en
Publisher: Academic Press
Release Date : 2000

The Economics Of Adjustment And Growth written by Pierre-Richard Agénor and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.

The Economics of Adjustment and Growth moves the study of macroeconomics for developing economies away from the traditional static approach and toward a more dynamic, growth-oriented framework. Pierre-Richard Agénor presents an analysis of policy issues involved in designing economic adjustment programs in developing countries and structural reform policies aimed at fostering economic growth. Emphasizing the need to take into account the structural features of these countries, his work dwells on the considerable body of analytical research and empirical evidence of the past two decades in academic circles and international organizations. It provides cutting-edge analysis of many current real-world issues, such as financial crises and the role of trade integration in fostering economic growth. Overall the book offers an impressive overview of the macroeconomic and structural adjustment issues facing developing economies today.

Structural Change Fundamentals And Growth A Framework And Case Studies

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Author : McMillan, Margaret
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2017-05-11

Structural Change Fundamentals And Growth A Framework And Case Studies written by McMillan, Margaret and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-11 with Political Science categories.

Exchange Rate Reform And Structural Disturbances In A Dual Exchange Rate Economy

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-11-14

Exchange Rate Reform And Structural Disturbances In A Dual Exchange Rate Economy written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-11-14 with Business & Economics categories.

This paper analyzes the implications of devaluation and a variety of structural disturbances in a dual exchange rate economy. A key feature of the model developed is its explicit recognition of both private (fraudulent) and officially-sanctioned cross transactions between the two exchange markets. The principal lesson to be learned from the analysis is that popular notions as to the effects of devaluation or of other disturbances are to be viewed with considerable caution when the dual rate regime involves inter-market transactions.