Artikel
Test of an inverted J-shape hypothesis between the expected real exchange rate and real output: The case of Ireland
Applying an open-economy macroeconomic model, incorporating the monetary policy reaction function and uncovering interest parity, this paper finds that the expected real exchange rate and real output exhibit an inverted J-shape relationship, suggesting that expected real depreciation increases real output during 1999.Q2-2001.Q3 whereas expected real appreciation raises output during 2001.Q4-2009.Q1. Other findings show that a higher real financial stock price, a higher world real interest rate, or a lower expected inflation rate would increase real output. Fiscal prudence may be needed as the coefficient of the government borrowing/GDP ratio is insignificant at the 10% level.
- Sprache
-
Englisch
- Erschienen in
-
Journal: International Journal of Economic Sciences and Applied Research ; ISSN: 1791-3373 ; Volume: 3 ; Year: 2010 ; Issue: 1 ; Pages: 39-47 ; Kavala: Kavala Institute of Technology
- Klassifikation
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Wirtschaft
Monetary Policy
Foreign Exchange
Open Economy Macroeconomics
Economywide Country Studies: Europe
- Thema
-
expected real depreciation or appreciation
monetary policy reaction function
fiscal policy
financial stock price
uncovered interest parity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hsing, Yu
- Ereignis
-
Veröffentlichung
- (wer)
-
Kavala Institute of Technology
- (wo)
-
Kavala
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Hsing, Yu
- Kavala Institute of Technology
Entstanden
- 2010
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