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Author: Zimmerman, Christian Publisher: [Montréal] : Centre de recherche sur l'emploi et les fluctuations économiques, Université du Québec à Montréal (CREFÉ) = Center for Research on Economic Fluctuations and Employment (CREFE) ISBN: Category : Languages : en Pages :
Author: Zimmerman, Christian Publisher: [Montréal] : Centre de recherche sur l'emploi et les fluctuations économiques, Université du Québec à Montréal (CREFÉ) = Center for Research on Economic Fluctuations and Employment (CREFE) ISBN: Category : Languages : en Pages :
Author: Christian Zimmermann Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Are business cycles different according to the exchange rate regime? Baxter & Stockman have inconclusive results. We reinvestigate this question with more recent data and a different methodology and find evidence, for some aggregates, that their business cycle behavior has changed. We then try to replicate this change with an international real business cycle model with exchange rate shocks.
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.
Author: Kyunghun Kim Publisher: ISBN: Category : Languages : en Pages : 43
Book Description
We investigate the role of exchange rate regimes in the international transmission of business cycles during the global financial crisis. We find that exchange rate regimes alone did not account for differences in the international transmission of business cycles during the crisis. However, analysis considering capital account openness and countries with currencies pegged to the U.S. dollar indicates that exchange rate regimes play an important role in shaping business cycle co-movement: adopting a fixed regime with high capital account openness (additionally) increased business cycle co-movement with the United States during the crisis, whereas U.S. dollar peggers with relatively restrictive capital accounts during the crisis were not found to affect business cycle transmission.
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Author: Zimmermann, Christian
Author: M. Baxter
Author: Christian Zimmermann
Author: Marianne Baxter
Author: Kyunghun Kim
Author: Allan H. Meltzer
Author: Michael A. Kouparitsas
Author: Yossi Yakhin
Author: Weshah Razzak