Short- 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%2F67985998%3A_____%2F13%3A00423403" target="_blank" >RIV/67985998:_____/13:00423403 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216208:11640/13:00391312

Výsledek na webu

<a href="http://dx.doi.org/10.1111/roie.12025" target="_blank" >http://dx.doi.org/10.1111/roie.12025</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1111/roie.12025" target="_blank" >10.1111/roie.12025</a>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

The European sovereign debt crisis revived the discussion concerning pros and cons of exchange rate adjustment in the face of asymmetric shocks. In the spirit of Keynes, exit from the euro area is to regain rapidly international competitiveness. In the spirit of Schumpeter, exchange rate stability with structural reforms would be beneficial towards the long-run growth performance. Previous literature has estimated the average growth of countries with different degrees of exchange rate flexibility. Thisliterature is augmented by analyzing short- and long-term growth effects of exchange rate flexibility in a panel cointegration framework for a sample of 60 countries clustered in five country groups. The estimations show that countries with a high degreeof exchange rate stability exhibit a higher long-term growth performance. It is shown that the degree of business cycle synchronization with the anchor country matters for the impact of exchange rate flexibility on growth.

Název v anglickém jazyce

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

Popis výsledku anglicky

The European sovereign debt crisis revived the discussion concerning pros and cons of exchange rate adjustment in the face of asymmetric shocks. In the spirit of Keynes, exit from the euro area is to regain rapidly international competitiveness. In the spirit of Schumpeter, exchange rate stability with structural reforms would be beneficial towards the long-run growth performance. Previous literature has estimated the average growth of countries with different degrees of exchange rate flexibility. Thisliterature is augmented by analyzing short- and long-term growth effects of exchange rate flexibility in a panel cointegration framework for a sample of 60 countries clustered in five country groups. The estimations show that countries with a high degreeof exchange rate stability exhibit a higher long-term growth performance. It is shown that the degree of business cycle synchronization with the anchor country matters for the impact of exchange rate flexibility on growth.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

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

2013

Kód důvěrnosti údajů

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

Název periodika

Review of International Economics

ISSN

0965-7576

e-ISSN

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Svazek periodika

21

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

14

Strana od-do

137-150

Kód UT WoS článku

000313983100011

EID výsledku v databázi Scopus

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