Real Exchange Rates and Fundamentals : A Cross-Country Perspective /

This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set of fundamentals for a sample of 48 industrial countries and emerging markets. It finds...

وصف كامل

التفاصيل البيبلوغرافية
المؤلف الرئيسي: Ricci, Luca
مؤلفون آخرون: Lee, Jaewoo, Milesi-Ferretti, Gian
التنسيق: دورية
اللغة:English
منشور في: Washington, D.C. : International Monetary Fund, 2008.
سلاسل:IMF Working Papers; Working Paper ; No. 2008/013
الوصول للمادة أونلاين:Full text available on IMF
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100 1 |a Ricci, Luca. 
245 1 0 |a Real Exchange Rates and Fundamentals :   |b A Cross-Country Perspective /  |c Luca Ricci, Jaewoo Lee, Gian Milesi-Ferretti. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2008. 
300 |a 1 online resource (25 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms of trade to estimate a panel cointegrating relationship between real exchange rates and a set of fundamentals for a sample of 48 industrial countries and emerging markets. It finds evidence of a strong positive relation between the CPI-based real exchange rate and commodity terms of trade. The estimated impact of productivity growth differentials between traded and nontraded goods, while statistically significant, is small. Increases in net foreign assets and in government consumption tend to be associated with appreciating real exchange rates. 
538 |a Mode of access: Internet 
700 1 |a Lee, Jaewoo. 
700 1 |a Milesi-Ferretti, Gian. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2008/013 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2008/013/001.2008.issue-013-en.xml  |z IMF e-Library