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Are Business Cycles Different in Asia and Latin America?

Are Business Cycles Different in Asia and Latin America? »

Source: Are Business Cycles Different in Asia and Latin America?

Volume/Issue: 1997/9

Series: IMF Working Papers

Author(s): Alexander Hoffmaister , and Jorge Roldos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1997

ISBN: 9781451927313

Keywords: exchange rate, real exchange rate, terms of trade, exchange rate fluctuations, nominal exchange rate

This paper compares business cycles in Asia and in Latin America using structural vector autoregression analysis with panel data. The evidence for countries in these regions suggests that (i) the main source of out...

Are Currency Crises Predictable?1

Are Currency Crises Predictable?1 »

Source: Are Currency Crises Predictable?

Volume/Issue: 1997/159

Series: IMF Working Papers

Author(s): Rodrigo Valdes , and Ilan Goldfajn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

ISBN: 9781451857634

Keywords: exchange rate, overvaluation, real exchange rate, currency crises, nominal exchange rate

This paper studies whether exchange rate expectations and overvaluations are predictors of currency crises. The results suggest that overvaluation has predictive power in explaining crises. However, although expect...

Assessing Competitiveness and Real Exchange Rate Misalignment in Low-Income Countries

Assessing Competitiveness and Real Exchange Rate Misalignment in Low-Income Countries »

Source: Assessing Competitiveness and Real Exchange Rate Misalignment in Low-Income Countries

Volume/Issue: 2007/201

Series: IMF Working Papers

Author(s): Mark Lewis , Aurelie Martin , and Gabriel Di Bella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451867657

Keywords: Competitiveness, Equilibrium Exchange Rates, Low-Income Countries, reer, exchange rate, export volume, exchange rates, real exchange rate, Comparative Studies of Countries,

Assessing a country's competitiveness routinely starts with an analysis of the real exchange rate. However, in low-income countries, empirical analysis of the real exchange rate is often subject to important limita...

Asymmetric Adjustment and Nonlinear Dynamics in Real Exchange Rates

Asymmetric Adjustment and Nonlinear Dynamics in Real Exchange Rates »

Source: Asymmetric Adjustment and Nonlinear Dynamics in Real Exchange Rates

Volume/Issue: 2003/159

Series: IMF Working Papers

Author(s): Gene Leon , and Serineh Najarian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451857696

Keywords: Nonlinearities, asymmetry, exchange rate, exchange rates, nonlinearity, statistics, real exchange rate,

This paper examines whether deviations from PPP are stationary in the presence of nonlinearity, and whether the adjustment toward PPP is symmetric from above and below. Using alternative nonlinear models, our resul...

Capital Inflows and the Real Exchange Rate

Capital Inflows and the Real Exchange Rate »

Source: Capital Inflows and the Real Exchange Rate : Analytical Framework and Econometric Evidence

Volume/Issue: 1996/137

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor , and Alexander Hoffmaister

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1996

ISBN: 9781451855876

Keywords: capital inflows, exchange rate, real exchange rate, capital flows, capital movements

This paper examines the links between capital inflows and the real exchange rate under pegged exchange rates. The analytical framework is described, and a near-VAR model linking capital inflows, interest rate diffe...

Deviations From Uncovered Interest Parity

Deviations From Uncovered Interest Parity »

Source: Deviations From Uncovered Interest Parity : A Global Guide to Where the Action Is

Volume/Issue: 1998/117

Series: IMF Working Papers

Author(s): Evan Tanner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451941647

Keywords: exchange rate, real exchange rate, inflation, exchange rates, real exchange rates

Ex-post deviations from uncovered interest parity (UIP) – realized differences between dollar returns on identical assets of different currencies – equal the real interest differential plus real excha...

Discriminating Contagion

Discriminating Contagion »

Source: Discriminating Contagion : An Alternative Explanation of Contagious Currency Crises in Emerging Markets

Volume/Issue: 2000/14

Series: IMF Working Papers

Author(s): Pavan Ahluwalia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2000

ISBN: 9781451843118

Keywords: Contagion, currency crisis, balance-of-payments, exchange rate, speculative, currency crises, real exchange rate

This paper shows that a country’s vulnerability to contagious crises depends on the visible similarities between that country and other countries that are experiencing crises. A country is vulnerable to shif...

Dread of Depreciation

Dread of Depreciation »

Source: Dread of Depreciation : Measuring Real Exchange Rate Interventions

Volume/Issue: 2002/63

Series: IMF Working Papers

Author(s): Jayasri Dutta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2002

ISBN: 9781451848434

Keywords: interventions, parity conditions, exchange rates, exchange rate, real exchange rate, equation,

We specify an empirical framework to detect the effects of official intervention on real exchange rate dynamics. Using data for 27 advanced and emerging market economies, we find evidence that interventions are a n...

Emerging Asia's Impact on Australian Growth

Emerging Asia's Impact on Australian Growth »

Source: Emerging Asia's Impact on Australian Growth : Some Insights From GEM

Volume/Issue: 2010/262

Series: IMF Working Papers

Author(s): Benjamin Hunt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455210695

Keywords: Emerging Asia, Productivity Growth, Rebalancing, exchange rates, exchange rate, real exchange rates, tradable goods, Economic Growth of Open Economies, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation, One

Over the last decade, GDP growth in emerging Asia was roughly twice as fast as average world growth. The IMF's Global Economy Model (GEM) is used to estimate the impact that emerging Asia's growth differential has...

External Balance in Low Income Countries

External Balance in Low Income Countries »

Source: External Balance in Low Income Countries

Volume/Issue: 2009/221

Series: IMF Working Papers

Author(s): Lone Engbo Christiansen , Alessandro Prati , Luca Ricci , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873689

Keywords: real exchange rate, net foreign assets, exchange rate, capital account liberalization, International Lending and Debt Problems,

This paper offers a coherent empirical analysis of the determinants of the real exchange rate, the current account, and the net foreign assets position in low income countries. The paper focuses on indicators speci...