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

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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

Název v anglickém jazyce

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

Popis výsledku anglicky

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

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GAP403%2F11%2F0020" target="_blank" >GAP403/11/0020: Dynamika informačních toků a přenos volatility na finančních trzích</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2012

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

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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Počet stran výsledku

6

Strana od-do

414-419

Název nakladatele

Silesian University in Opava, School of Business Administration in Karviná

Místo vydání

Karviná

Místo konání akce

Karviná

Datum konání akce

11. 9. 2012

Typ akce podle státní příslušnosti

CST - Celostátní akce

Kód UT WoS článku

000316715900071