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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17743| Title: | Productivity Shocks and Delayed Exchange-Rate Overshooting |
| Keywords: | F31 F41 F32 ddc:330 Productivity shock Exchange rate overshooting Overshooting Neue Makroökonomik offener Volkswirtschaften Produktivität Schock Konsuminterdependenz Theorie catching up with the Joneses |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | This paper uses a ?new open economy macroeconomics? model to study the effect of a productivity shock on exchange rate dynamics. The special features of the model are that households? preferences exhibit a ?catching up with the Joneses? effect and that international financial markets are imperfectly integrated. Numerical simulations of the model are used to demonstrate that these features imply that, in an otherwise standard ?new open economy macroeconomics? model, a productivity shock can give rise to a delayed overshooting of the exchange rate. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/17743 |
| Other Identifiers: | http://hdl.handle.net/10419/17743 ppn:379984210 |
| Appears in Collections: | EconStor |
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