منابع مشابه
Real Exchange Rate and Consumption Fluctuations following Trade Liberalization
Two-sector models with traded and non-traded goods have problems accounting for the stylized fact that the real exchange rate appreciates and consumption booms for several years following trade liberalization, or exchange-rate-based stabilization programs, in small open economies. The paper investigates some possible solutions to this price-consumption puzzleand evaluates their quantitative i...
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_________________________________________________________________________ We develop a simple, multicountry, multisector intertemporal general equilibrium model in which the degree of tradability of output differs across sectors. Tradability is determined both by the degree of substitutability in consumption between units of the same good produced in different countries and by the transactions ...
متن کاملThe survey of Impact of Oil Price Fluctuations on Real Exchange Rate in the Selected OPEC Countries
One of the most significant discussion and challenges propounded in the macroeconomics is the effects of fluctuations of exchange rate on the macroeconomic variables (production, employment, inflation and … etc).In this direction, the important and noticeable point is the factors which lead to fluctuations in the exchange rate which, from amongst these factors as an example, is fluctuations in ...
متن کاملReal Effective Exchange Rate and Trade Performance in Iran
The Purpose of this paper is to investigate the long-run effect of real effective exchange rate on Iran non-oil trade balance. The methodology is based on ARDL procedure that can be applied irrespective of whether the regressors are I(0) or I(1). The results show the real depreciation has not a favorable long - run effect on the non-oil trade balance of Iran from 1979 to 2001.
متن کاملCan Interest Rate Factors Explain Exchange Rate Fluctuations?
This paper explores whether interest rate factors, derived from the yield curve, can explain exchange rate fluctuations at different horizons. Using a dynamic term structure model under no-arbitrage, exchange rates are modeled as the ratio of two countries’ stochastic discount factors. Key to this framework is that factors are observable, which allows the model to be estimated by Maximum Likeli...
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ژورنال
عنوان ژورنال: Journal of Applied Economics
سال: 2006
ISSN: 1514-0326,1667-6726
DOI: 10.1080/15140326.2006.12040651