LEADER 02055oam 2200409 450 001 9910707911203321 005 20171016132508.0 035 $a(CKB)5470000002469461 035 $a(OCoLC)973527602 035 $a(EXLCZ)995470000002469461 100 $a20170223d2017 ua 0 101 0 $aeng 135 $aurcn||||a|||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aExamining current trends and changes in the fixed-income markets $ejoint hearing before the Subcommittee on Securities, Insurance, and Investment and the Subcommittee on Economic Policy of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fourteenth Congress, second session, on examining the recent efforts by several regulators, including the Department of Treasury and the Federal Reserve, to understand the October 15, 2014, Treasury "flash rally," changes in the Treasury market structure, and liquidity concerns in the fixed-income markets, April 14, 2016 210 1$aWashington :$cU.S. Government Publishing Office,$d2017. 215 $a1 online resource (iii, 54 pages) $ccolor illustrations 225 1 $aS. hrg. ;$v114-319 300 $aPaper version available for sale by the Superintendent of Documents, U.S. Government Publishing Office. 320 $aIncludes bibliographical references. 517 $aExamining current trends and changes in the fixed-income markets 606 $aFixed-income securities$zUnited States 606 $aGovernment securities$zUnited States 608 $aLegislative hearings.$2lcgft 615 0$aFixed-income securities 615 0$aGovernment securities 712 02$aUnited States.$bCongress.$bSenate.$bCommittee on Banking, Housing, and Urban Affairs.$bSubcommittee on Economic Policy, 801 0$bGPO 801 1$bGPO 801 2$bMERUC 801 2$bGPO 906 $aBOOK 912 $a9910707911203321 996 $aExamining current trends and changes in the fixed-income markets$93526750 997 $aUNINA LEADER 04511oam 22012134 450 001 9910788226303321 005 20230721045716.0 010 $a1-4623-7796-3 010 $a1-4518-7359-X 010 $a1-4527-5510-8 010 $a1-282-84418-0 010 $a9786612844188 035 $a(CKB)3170000000055355 035 $a(SSID)ssj0000940088 035 $a(PQKBManifestationID)11519262 035 $a(PQKBTitleCode)TC0000940088 035 $a(PQKBWorkID)10948643 035 $a(PQKB)10423893 035 $a(OCoLC)649708896 035 $a(MiAaPQ)EBC1608837 035 $a(IMF)WPIEE2009212 035 $a(EXLCZ)993170000000055355 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCointegrated TFP Processes and International Business Cycles /$fVicente Tuesta, Juan Rubio-Ramirez, Pau Rabanal 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a53 p. $cill 225 1 $aIMF Working Papers 300 $a"September 2009." 311 $a1-4519-1781-3 330 3 $aA puzzle in international macroeconomics is that observed real exchange rates are highly volatile. Standard international real business cycle (IRBC) models cannot reproduce this fact. We show that TFP processes for the U.S. and the "rest of the world," is characterized by a vector error correction (VECM) and that adding cointegrated technology shocks to the standard IRBC model helps explaining the observed high real exchange rate volatility. Also we show that the observed increase of the real exchange rate volatility with respect to output in the last 20 year can be explained by changes in the parameter of the VECM. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/212 606 $aBusiness cycles$xEconometric models 606 $aForeign exchange rates$xEconometric models 606 $aEconometrics$2imf 606 $aForeign Exchange$2imf 606 $aMacroeconomics$2imf 606 $aProduction and Operations Management$2imf 606 $aProduction$2imf 606 $aCost$2imf 606 $aCapital and Total Factor Productivity$2imf 606 $aCapacity$2imf 606 $aMultiple or Simultaneous Equation Models$2imf 606 $aMultiple Variables: General$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aEnvironment and Growth$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aEconometrics & economic statistics$2imf 606 $aEconomic growth$2imf 606 $aReal exchange rates$2imf 606 $aTotal factor productivity$2imf 606 $aVector error correction models$2imf 606 $aConsumption$2imf 606 $aSustainable growth$2imf 606 $aIndustrial productivity$2imf 606 $aEconometric models$2imf 606 $aEconomics$2imf 606 $aEconomic development$2imf 607 $aUnited States$2imf 615 0$aBusiness cycles$xEconometric models. 615 0$aForeign exchange rates$xEconometric models. 615 7$aEconometrics 615 7$aForeign Exchange 615 7$aMacroeconomics 615 7$aProduction and Operations Management 615 7$aProduction 615 7$aCost 615 7$aCapital and Total Factor Productivity 615 7$aCapacity 615 7$aMultiple or Simultaneous Equation Models 615 7$aMultiple Variables: General 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aEnvironment and Growth 615 7$aCurrency 615 7$aForeign exchange 615 7$aEconometrics & economic statistics 615 7$aEconomic growth 615 7$aReal exchange rates 615 7$aTotal factor productivity 615 7$aVector error correction models 615 7$aConsumption 615 7$aSustainable growth 615 7$aIndustrial productivity 615 7$aEconometric models 615 7$aEconomics 615 7$aEconomic development 700 $aTuesta$b Vicente$01509593 701 $aRubio-Ramirez$b Juan$01509594 701 $aRabanal$b Pau$01509574 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788226303321 996 $aCointegrated TFP Processes and International Business Cycles$93741567 997 $aUNINA