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Business Cycle Asymmetries and the Nominal Exchange Rate Regimes

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes PDF Author: Weshah Razzak
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 28

Book Description

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes PDF Author: Weshah Razzak
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 28

Book Description

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes PDF Author: Weshah A. Razzak
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

Book Description
This paper investigates differences in time series behaviour of real output and the price levels in seven countries (the United States, the United Kingdom, Germany, Japan, Canada, Australia, and New Zealand) under alternative exchange rate systems. Quarterly data spanning the Bretton-Woods and the subsequent floating exchange rate regimes are used to test whether or not the cyclical fluctuations of output and price levels are symmetric. It is shown that the evidence of asymmetries depends on the prevailing nominal exchange rate regime and the method used to de-trend the data.

Business Cycles and the Exchange Rate System

Business Cycles and the Exchange Rate System PDF Author: Marianne Baxter
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 80

Book Description
This paper investigates empirically the differences in time?series behavior of key economic aggregates under alternative exchange rate systems. We use a postwar sample of 49 countries to compare the behavior of output. consumption, trade flows, government consumption spending, and real exchange rates under alternative exchange rate systems (pegged, floating, and systems such as the EMS). We then examine evidence from two particular episodes, involving Canada and Ireland, of changes in the exchange rate system. Aside from greater variability of real exchange rates under flexible than under pegged nominal exchange rate systems, we find little evidence of systematic differences in the behavior of other macroeconomic aggregates or international trade flows under alternative exchange rate systems. These results are of interest because a large class of theoretical models implies that the nominal exchange rate system has important effects on a number of macroeconomic quantities.

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes

Business Cycle Asymmetries and the Nominal Exchange Rate Regimes PDF Author: Weshah Razzak
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 32

Book Description

Hysteresis and Business Cycles

Hysteresis and Business Cycles PDF Author: Ms.Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50

Book Description
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.

Why is the Business-cycle Behavior of Fundamentals Alike Across Exchange-rate Regimes?

Why is the Business-cycle Behavior of Fundamentals Alike Across Exchange-rate Regimes? PDF Author: Luca Dedola
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 56

Book Description

On Exchange Rate Regimes, Exchange Rate Fluctuations, and Fundamentals

On Exchange Rate Regimes, Exchange Rate Fluctuations, and Fundamentals PDF Author: Luca Dedola
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 33

Book Description

Real Business Cycles, Real Exchange Rates and Actual Policies

Real Business Cycles, Real Exchange Rates and Actual Policies PDF Author: Allan H. Meltzer
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 320

Book Description

The Business Cycle Associated with Exchange-rate-based Stabilization

The Business Cycle Associated with Exchange-rate-based Stabilization PDF Author: Miguel Alberto Kiguel
Publisher: World Bank Publications
ISBN:
Category : Business cycles
Languages : en
Pages : 60

Book Description
Disinflation programs in chronic inflation countries do not normally follow the usual Phillips curve tradeoff in the medium run. Instead of having a sharp recession in the early stage of stabilization, there often is an initial expansion of output followed by a recession and balance of payments difficulties. This pattern is related to programs that use the exchange rate as an instrument of disinflation.

Liquidity, Exchange Rates, and Business Cycles

Liquidity, Exchange Rates, and Business Cycles PDF Author: Wai-Ming Ho
Publisher: London : Department of Economics, University of Western Ontario
ISBN:
Category : Business cycles
Languages : en
Pages : 60

Book Description

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