Targeting the real exchange rate: theory and evidence
نویسندگان
چکیده
منابع مشابه
The Effect of Real Exchange Rate Variability on Industrial Output: Empirical Evidence from OIC
The exchange rate plays an essential role for firms which export goods and import raw materials. In this paper, the effects of real specific exchange rate fluctuations in imports, exports and aggregate trade on industry sector, chemical and transportation industries outputs in 49 OIC countries were investigated by using a panel data model over 1990-2014. Particularly, this paper presents eviden...
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 کاملGauging Exchange Rate Targeting
In this paper, we examine whether a monetary authority targets the exchange rate, per se, or instead simply appears to do so as it responds to the exchange rate and other variables in service to inflation and output targets. We combine data-rich estimation with a system of forward-looking equations in order to disentangle the possibilities. The combined approach reveals the potentially misleadi...
متن کاملReal Exchange Rate Misalignments: Theoretical Modeling and Empirical Evidence
The real exchange rate (RER) misalignment is a key variable in academic and policy circles. Among policy circles, sustained RER overvaluations are observed by authorities for future exchange rate adjustments. Some countries, on the other hand, have pursued very active exchange rate policies in order to undervalue their currencies to foster growth through export promotion (e.g. China). Our goal ...
متن کاملMeasuring the Real Exchange Rate Misalignment and the Factors Affecting it in the OPEC Member Countries (Emphasizing on the Capital Account Openness and Exchange Rate Flexibility)
Changes in the real exchange rate affect a country's balance of payments and international competitiveness, and its misalignment from the long-run equilibrium level usually creates imbalances in the macro economy. This is also important in countries with oil resources due to their foreign trade structure. Accordingly, due to the existence of few internal studies on the subject in selected count...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Development Economics
سال: 1995
ISSN: 0304-3878
DOI: 10.1016/0304-3878(95)00006-2