Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/25557 
Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
CFS Working Paper No. 2008/22
Verlag: 
Goethe University Frankfurt, Center for Financial Studies (CFS), Frankfurt a. M.
Zusammenfassung: 
Using 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.
Schlagwörter: 
Real Exchange Rate
Terms of Trade
International Transmission Mechanism
Government Spending Shocks
Technology Shocks
VAR
Sign Restrictions
JEL: 
F41
F42
E32
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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