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  • How important is the shock-absorbing role of the real exchange rate?
    Masten, Igor
    To allow a better understanding of the shock-absorbing role of the real exchange rate this paper distinguishes between permanent and transitory asymmetric real shocks as sources of its variation. The ... former are a sign of divergent economic developments, which implies that the real exchange rate canonly have shock-absorbing potential for transitory asymmetric real shocks. For the countries under analysis - Hungary, the Czech Republic, Slovenia, Denmark and the United Kingdom - the real exchange rate does not play a shock-absorbing role. More importantly, the paper identifies significant divergent economic developments in the first three countries that, due to the catching-up process, are likely to persist in the future. This has some important implications for their strategies for entering the EMU.
    Vir: Economic and business review. - ISSN 1580-0466 (Vol. 7, no. 3, oct. 2005, str. 167-194)
    Vrsta gradiva - članek, sestavni del ; neleposlovje za odrasle
    Leto - 2005
    Jezik - angleški
    COBISS.SI-ID - 15888614

vir: Economic and business review. - ISSN 1580-0466 (Vol. 7, no. 3, oct. 2005, str. 167-194)

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