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dc.contributor.authorEnders, Zenoen_US
dc.contributor.authorMüller, Gernot J.en_US
dc.contributor.authorScholl, Almuthen_US
dc.date.accessioned2009-04-15en_US
dc.date.accessioned2009-07-24T13:48:51Z-
dc.date.available2009-07-24T13:48:51Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:hebis:30-56955-
dc.identifier.urihttp://hdl.handle.net/10419/25557-
dc.description.abstractUsing vector autoregressions on U.S. time series relative to an aggregate of industrialized countries, this paper provides new evidence on the dynamic effects of government spending and technology shocks on the real exchange rate and the terms of trade. To achieve identification, we derive robust restrictions on the sign of several impulse responses from a two-country general equilibrium model. We find that both the real exchange rate and the terms of trade whose responses are left unrestricted depreciate in response to expansionary government spending shocks and appreciate in response to positive technology shocks.en_US
dc.language.isoengen_US
dc.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2008/22en_US
dc.subject.jelF41en_US
dc.subject.jelF42en_US
dc.subject.jelE32en_US
dc.subject.ddc330en_US
dc.subject.keywordReal Exchange Rateen_US
dc.subject.keywordTerms of Tradeen_US
dc.subject.keywordInternational Transmission Mechanismen_US
dc.subject.keywordGovernment Spending Shocksen_US
dc.subject.keywordTechnology Shocksen_US
dc.subject.keywordVARen_US
dc.subject.keywordSign Restrictionsen_US
dc.subject.stwKaufkraftparitäten_US
dc.subject.stwTerms of Tradeen_US
dc.subject.stwÖffentliche Ausgabenen_US
dc.subject.stwTechnologieen_US
dc.subject.stwSchocken_US
dc.subject.stwInternationaler Preiszusammenhangen_US
dc.subject.stwZwei-Länder-Modellen_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.subject.stwSchätzungen_US
dc.subject.stwUSAen_US
dc.titleHow do fiscal and technology shocks affect real exchange rates? New evidence for the United Statesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn577761323en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:cfswop:200822-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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