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Institut für Weltwirtschaft (IfW), Kiel >
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http://hdl.handle.net/10419/17743
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| Title: | | Productivity Shocks and Delayed Exchange-Rate Overshooting  |
| Authors: | | Pierdzioch, Christian |
| Issue Date: | | 2004 |
| Series/Report no.: | | Kieler Arbeitspapiere 1199 |
| Abstract: | | 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. |
| Subjects: | | Productivity shock Exchange rate overshooting |
| JEL: | | F31 F41 F32 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Kieler Arbeitspapiere, IfW
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| kap1199.pdf | | 326.38 kB | Adobe PDF |
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