The transfer effect: A comparative perspective between the European monetary union regime and fixed and floating regimes
AbstractWe examine the determinants of the real effective exchange-rate for several countries over the 1980-2007 period according to their exchange-rate regime. Based on panel cointegration techniques, we estimate the long run relationship between the exchange rate and a number of fundamental variables, often considered by the theoretical and empirical literature as important exchange-rate determinants, namely relative productivity, net foreign assets and terms of trade. Our results show that the exchange-rate regime influences the real exchange rates determinants, and that the “European Monetary Union” fixed exchange-rate regime type differs substantially from the “traditional” fixed exchange-rate regime and the floating one.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by CEPII research center in its journal Economie Internationale.
Volume (Year): (2011)
Issue (Month): 125 ()
EXCHANGE RATE ; REAL EFFECTIVE EXCHANGE RATE ; PANEL DATA ; EXCHANGE RATE REGIME ;
Find related papers by JEL classification:
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.