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13 Feb 2008
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£73.00
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9780230500624
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DescriptionContentsAuthors

The impact of exchange rate movements on prices and economics is at the core of international macroeconomic theory and policy. In recent years, interest in this issue has increased, following strong exchange rate fluctuations, the unsustainability of the current account imbalances, and the expected exchange rate regimes in some emerging economies.
This book explores the PPP persistence puzzle, looking at the econometric aspects of exchange rate dynamics and their implications. Questions related to the supposed misalignment of the Chinese exchange rate are also investigated. The book also examines the importance of exchange rates dynamics in the pass-through effects (PTE), as well as exploring econometric aspects of the exchange rate dynamics linked to structural shocks on different economies.
This book is an excellent resource for all with a research interest in the econometrics of exchange rates dynamics.


Description

The impact of exchange rate movements on prices and economics is at the core of international macroeconomic theory and policy. In recent years, interest in this issue has increased, following strong exchange rate fluctuations, the unsustainability of the current account imbalances, and the expected exchange rate regimes in some emerging economies.
This book explores the PPP persistence puzzle, looking at the econometric aspects of exchange rate dynamics and their implications. Questions related to the supposed misalignment of the Chinese exchange rate are also investigated. The book also examines the importance of exchange rates dynamics in the pass-through effects (PTE), as well as exploring econometric aspects of the exchange rate dynamics linked to structural shocks on different economies.
This book is an excellent resource for all with a research interest in the econometrics of exchange rates dynamics.


Contents

Introduction
PART I: THE PURCHASING POWER PARITY AND ITS IMPLICATIONS ON EQUILIBRIUM EXCHANGE RATES
Three Exchange Rate Puzzles: Fact or Fiction?; R.MacDonald
The Real Exchange Rate Misalignment of the Five Central European Countries Single Equation Approach; J.Frait, L.Komárek & M.Melecký
Real Equilibrium Exchange Rate in China: Is the Renminbi Undervalued?; V.Coudert & C.Couharde
PART II: EXCHANGE RATES DYNAMICS AND PASS-THROUGH EFFECTS
Exchange Rate Pass-Through Effect and Monetary Policy in Russia; V.V.Dobrynskaya & D.V.Levando
Disaggregated Econometric Models to Forecast Inflation in Hungary; V.Várpalotai
PART III: EXCHANGE RATES DYNAMICS AND STRUCTURAL SHOCKS ON ECONOMIES
An Open Economy DSGE Model Linking the Euro Area and the US Economy; G.de Walque & R.Wouters
Liberalization Shocks and Real Exchange Rate Appreciation in the Transition Economies; C.Papazoglou


Authors

PAVLOS KARADELOGLOU is Head of the Global Economy Section in the European Central Bank. He has worked at INSEE (France), at the National Technical University of Athens, Centre of Planning and Economic Research, and at the Bank of Greece. He was also Consultant at the European Commission for two years.

VIRGINIE TERRAZA is Assistant Professor at the University of Luxembourg and researcher at the CREFI-LSF. Her main research concerns econometrics methods in fields of financial risk modelling and portfolio management. Presently, her work is concerned with fund investment risks and performance in collaboration with risk management societies.