Short-term and long-term growth effects of exchange rate adjustment

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F12%3A00392393" target="_blank" >RIV/00216208:11640/12:00392393 - isvavai.cz</a>
Result on the web
<a href="http://mme2012.opf.slu.cz/proceedings/pdf/071_Kocenda.pdf" target="_blank" >http://mme2012.opf.slu.cz/proceedings/pdf/071_Kocenda.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Short-term and long-term growth effects of exchange rate adjustment
Original language description
During the European sovereign debt crisis the discussion concerning the pros and cons of exchange rate adjustment in the face of asymmetric shocks has been revived. Whereas one side has recommended (in the spirit of Keynes) the exit from the euro area toregain rapidly international competitiveness, exchange rate stability cum structural reforms have been argued (in the spirit of Schumpeter) to be a beneficial long-term strategy towards the reanimation of a robust growth performance. Previous literaturehas estimated the average growth performance of countries with different degrees of exchange rate volatility. We augment this literature by econometrically separating between the short-term and long-term growth effects of exchange rate volatility basedon a panel-cointegration framework for a sample of 60 countries clustered in five country groups. The estimations show that countries with a low degree of exchange rate volatility exhibit a higher long-term growth performance, whereas ove
Czech name
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Czech description
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Project
<a href="/en/project/GAP403%2F11%2F0020" target="_blank" >GAP403/11/0020: Dynamics of information flows and volatility transmission in financial markets</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of 30th International Conference Mathematical Methods in Economics
ISBN
978-80-7248-779-0
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
414-419
Publisher name
Silesian University in Opava, School of Business Administration in Karviná
Place of publication
Karviná
Event location
Karviná
Event date
Sep 11, 2012
Type of event by nationality
CST - Celostátní akce
UT code for WoS article
000316715900071

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