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» Resultado: 2 registros
| Registro 1 de 2 | |
| Autor: | Kandil, Magda - |
| Título: | The adverse effects of real exchange rate variability in Latin America and the Caribbean |
| Fuente: | Journal of Applied Economics. v.18, n.1. Universidad del CEMA |
| Páginas: | pp. 99-120 |
| Año: | May 2015 |
| Resumen: | The paper examines the pros and cons of anticipated appreciation and the asymmetric effects of short-term exchange rate fluctuations in a sample of countries in Latin America and the Caribbean. On the demand side, exchange rate depreciation increases competitiveness and export growth, expanding output growth. On the supply side, depreciation increases the cost of imported inputs, increasing output capacity constraints and accelerating price inflation. The time-series evidence indicates that output expansion (contraction) and price deflation (inflation) predominate with anticipated currency appreciation (depreciation). The cross-country results show that exchange rate variability exacerbates the variability of economic activity across countries. Short-term fluctuations of the exchange rate may reflect the adverse effects of unanticipated currency fluctuations. Therefore, more flexibility towards aligning the real effective exchange rate with the underlying fundamentals could help mitigate the adverse effects of higher cost of imports and loss of competitiveness on real growth, and ease inflationary pressures. |
| Palabras clave: | TIPO DE CAMBIO | FLUCTUACIONES | DEMANDA | EXPORTACIONES | INFLACION | TIPO DE CAMBIO REAL | |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 2 de 2 | |
| Autor: | Kandil, Magda - |
| Título: | Demand shocks and the cyclical behavior of the real wage: some international evidence |
| Fuente: | Journal of Applied Economics. v.13, n.1. Universidad del CEMA |
| Páginas: | pp. 135-158 |
| Año: | May 2010 |
| Resumen: | The focus of this investigation is on the cyclical response of the real wage to demand shocks. This response differentiates the empirical validity of major New Keynesian explanations of business cycles. The empirical evidence, across industrial countries, highlights a moderate positive correlation between nominal wage and price flexibility in response to various demand shocks. Nonetheless, higher price flexibility moderates the effect of demand shocks on real output, while higher nominal wage flexibility increases, or does not determine, the effects of demand shocks on real output across countries. An increase in the response of the real wage to demand shocks therefore exacerbates their real effect on output, as predicted by sticky-price models. Further, demand shocks do not determine the difference in wage variability. Nominal wage variability increases, in turn, output variability across countries. In contrast, demand shocks differentiate price variability. Price variability moderates, in turn, output variability across countries. |
| Palabras clave: | SALARIOS | INFLACION | PRECIOS | DEMANDA | CICLOS ECONOMICOS | |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
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