08648oam 22015734 450 991077927130332120230721020751.01-4552-4688-31-4527-7255-X1-283-53570-X97866138481541-4519-6203-7(CKB)2550000000102078(EBL)1608492(SSID)ssj0000409888(PQKBManifestationID)12103215(PQKBTitleCode)TC0000409888(PQKBWorkID)10348462(PQKB)10091195(SSID)ssj0001107456(PQKBManifestationID)11603619(PQKBTitleCode)TC0001107456(PQKBWorkID)11084989(PQKB)10445536(Au-PeEL)EBL1608492(CaPaEBR)ebr10557206(CaONFJC)MIL384815(OCoLC)870245396(MiAaPQ)EBC1608492(IMF)ERAIEE(IMF)ERAIEA(EXLCZ)99255000000010207820020129d2008 uf 0engur|n|---|||||txtccrExchange Rate Analysis in Support of IMF Surveillance : A Collection of Empirical Studies /Charalambos Tsangarides, Carlo Cottarelli, Gian Milesi-Ferretti, Atish GhoshWashington, D.C. :International Monetary Fund,2008.1 online resource (351 p.)Description based upon print version of record.1-58906-728-2 Includes bibliographical references.Cover; Contents; Foreword; Acknowledgments; Introduction; I: Determination and Impact of the Real Exchange Rate; 1. Commodity Currencies and the Real Exchange Rate; Theoretical Framework; Data; Tables; 1.1 Principal Commodity Exports and Percentage Share of Primary Commodities in Total Exports, 1991-99; Empirical Analysis of Comovement; Figures; 1.1 Real Exchange Rate and Real Commodity Price, Selected Commodity-Exporting Countries, 1980-2002; 1.2 Cointegration and Stability Tests, Real Exchange Rate and Real Commodity Prices, 1980-20021.3 Real Exchange Rate and Real Commodity Prices: Exogeneity and Causality, 1980-2002Conclusions; Appendix 1.1 Details of the Theoretical Framework; Appendix 1.2 Description of the Data; Appendix 1.3 Construction of the Country-Specific Nominal Price Indices of Commodity Exports; Appendix 1.4 Cointegration Tests: Real Exchange Rate and Real Commodity Prices, Commodity-Exporting Countries, 1980-2002; References; 2. Exchange Rates and Trade Balance Adjustment in Emerging Market Economies; The Analytics of Trade Balance Adjustment; Country Classification and Estimation Strategy2.1 Price Deflators, 1980-2005Empirical Results; 2.1 Export Volumes: Coefficient Estimates and Implied Elasticities; 2.2 Pricing Equation for Manufacturing Exporters: Coefficient Estimates and Implied Elasticities; 2.3 Inflation Rate: Coefficient Estimates and Implied Elasticities; 2.4 Volume of Imports and Absorption: Coefficient Estimates and Implied Elasticities; 2.5 Effects of Devaluations on Export-Import Values and on the Trade Balance for Different Classes of Exporters; Conclusions; 2.2 Profiles for Exports, Imports, and Trade Balances; 2.3 Effect of a Depreciation on the Trade BalanceAppendix 2.1 Overview of the Empirical Literature on Trade Volume Price Elasticities and Pricing to Market2.A.1 Estimates of Price Elasticities in Selected Papers; Appendix 2.2 Marshall-Lerner Redux; Appendix 2.3 Data Description and Sample; Appendix 2.4 Robustness Tests; 2.A.2 Country Sample; 2.A.3 Export Volumes (Long-Run Elasticities) in Different Samples; 2.A.4 Inflation Equation: Effect of a Change in Exchange Rates; 2.A.5 Impact on the Trade Balance of a 10 Percent Depreciation; 2.A.6 Pricing Equation for Manufacturing Exporters for Different Samples; Appendix 2.5 Estimation Procedures2.A.7 Pricing Equation for Imports2.A.8 Trade Elasticities and Estimation Methodologies; References; 2.A.9 Long-Run Effects of Devaluations on Export-Import Values and on the Trade Balance (in Foreign Currency) for Different Classes of Exporters; 3. Aid Volatility and Macroeconomic Policies; Empirical Evidence; 3.1 The Sample; 3.2 Summary Statistics; 3.3 Bivariate Correlations Among Main Variables; 3.4 Foreign Aid and Trade Balance Volatility; Conclusions; References; 4. Exchange Rate Pass-Through in the Euro Area; Empirical Estimates; 4.1 Effects of Exchange Rate Shock on Euro Area Prices4.1 Euro Area Pass-Through ElasticitiesExchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a wide variety of exchange rate issues in various member countries, both small and large, from the least economically developed to the most advanced, and from those whose currencies circulate only locally to those whose currencies are of global importance. Each year, IMF staff produce dozens of studies on exchange rate issues, some published by the IMF, others in various professional journals or books. This book aims to give a flavor of the topics the IMF staff typically examine under the broad rubric of exchange rate analysis, encompassing several topics: determination and impact of the real exchange rate, assessing competitiveness and the equilibrium real exchange rate in specific countries or country groups, and considerations in the choice of exchange rate regime.BooksForeign exchange ratesEconometricsimfExports and ImportsimfForeign ExchangeimfMacroeconomicsimfMoney and Monetary PolicyimfInvestments: CommoditiesimfTrade: GeneralimfEmpirical Studies of TradeimfCommodity MarketsimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfPrice LevelimfInflationimfDeflationimfCurrencyimfForeign exchangeimfInternational economicsimfMonetary economicsimfEconometrics & economic statisticsimfInvestment & securitiesimfReal exchange ratesimfExchange rate arrangementsimfExchange ratesimfReal effective exchange ratesimfExportsimfInternational tradeimfTrade balanceimfPricesimfBalance of tradeimfMoneyimfEconomic assistanceimfUnited StatesimfForeign exchange rates.EconometricsExports and ImportsForeign ExchangeMacroeconomicsMoney and Monetary PolicyInvestments: CommoditiesTrade: GeneralEmpirical Studies of TradeCommodity MarketsMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsPrice LevelInflationDeflationCurrencyForeign exchangeInternational economicsMonetary economicsEconometrics & economic statisticsInvestment & securitiesReal exchange ratesExchange rate arrangementsExchange ratesReal effective exchange ratesExportsInternational tradeTrade balancePricesBalance of tradeMoneyEconomic assistance332.4/56Tsangarides Charalambos1462110Cottarelli Carlo118928Milesi-Ferretti Gian1462146Ghosh Atish239246International Monetary Fund.DcWaIMFBOOK9910779271303321Exchange Rate Analysis in Support of IMF Surveillance3796531UNINA