Long-Term Fluctuations of Real Exchange Rates with Emphasis on those Caused by Inflation

2002 ◽  
pp. 50-72
Author(s):  
Peter Bernholz ◽  
Nissan Liviatan
Keyword(s):  
Exchange Rates ◽  
Real Exchange Rates

scholarly journals Real Shocks and Real Exchange Rates in Really Long-Term Data

1995 ◽  
Vol 1995 (493) ◽  
pp. 1-47 ◽  
Author(s):  
John Harold Rogers ◽  
Keyword(s):  
Exchange Rates ◽  
Real Exchange Rates ◽  
Real Shocks ◽  
Term Data

The World Economy

1995 ◽  
Vol 152 ◽  
pp. 29-59 ◽  
Author(s):  
Ray Barrell ◽  
Nigel Pain ◽  
Julian Morgan
Keyword(s):  
Exchange Rate ◽  
Financial Markets ◽  
Exchange Rates ◽  
World Economy ◽  
Real Exchange Rates ◽  
Equity Prices ◽  
Forward Rates ◽  
Effective Exchange ◽  
Rate Mechanism

The pattern of real exchange rates has changed significantly since February. Our currency forecasts at that time were in line with the implied forward rates in financial markets, with the yen projected to appreciate slowly against the dollar, rising from 100 to the dollar in the first quarter of 1995 to around 90 to the dollar in 1997. Within Europe, we projected a further small appreciation of the D-mark and a continuing depreciation of the lira and the peseta. Overall, we expected ‘real exchange rates to stay approximately stable’. In the event, the yen rose strongly in March and April to around 80 to the dollar, while the D-mark rose from around 1.50 to 1.38 to the dollar. At the same time, the lira/D-mark exchange rate fell by over 10 per cent and the Exchange Rate Mechanism was placed under renewed strain, with both the peseta and the escudo being devalued. As a result, the Japanese and US real effective exchange rates are respectively 15 per cent higher and 7 per cent lower than we had previously expected. These developments also had a wider impact on financial markets. The discount rate was cut in Japan and Germany and long-term rates rose in Italy and Spain. Equity prices fell sharply in those countries with appreciating currencies and jumped up in most of the countries whose exchange rate has depreciated.

South Africa’s Trade Performance under Alternative Exchange Rate Regimes

2018 ◽  
Vol 10 (6) ◽  
pp. 261
Author(s):  
Romaine Patrick ◽  
Phocenah Nyatanga
Keyword(s):  
South Africa ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Exchange Rate Regime ◽  
Real Exchange Rates ◽  
Series Data ◽  
Growth Strategies ◽  
The Real ◽  
Real Price ◽  
Floating Exchange Rate

This study examined the effect exchange rates have on import and export volumes under alternative exchange rate policies adopted in South Africa over the period 1960 to 2017. Using quarterly time series data for the stated period, a log-linear error correction model is employed to estimate the country’s export and import elasticities, taking into account Gross Domestic Product (GDP), the real price of exports, the real price of imports and real exchange rates. Using the freely floating exchange rate regime as the base period, the study concluded that both export and import volumes are lower under a system of fixed exchange rates. Export and import volumes were also found to be lower under the dual exchange rate regime, relative to the freely floating exchange rate regime. In accordance with export-led growth strategies, exports were found to be higher and imports lower under a managed floating exchange rate regime. It is therefore recommended that South Africa revert to a more managed exchange rate regime, until the South African economy is developed to accommodate a freely floating exchange rate regime.

scholarly journals Co-movement of real exchange rates in the West African Monetary Zone

2017 ◽  
Vol 5 (1) ◽  
pp. 1351807 ◽  
Author(s):  
Peterson Owusu Junior ◽  
Anokye M. Adam ◽  
George Tweneboah ◽  
Kwok Tong Soo
Keyword(s):  
Exchange Rates ◽  
Real Exchange Rates ◽  
West African ◽  
The West
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