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  • Walter de Gruyter GmbH  (2)
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  • Walter de Gruyter GmbH  (2)
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  • 1
    Online Resource
    Online Resource
    The Balassa–Samuelson Hypothesis in Developed Countries and Emerging Market Economies: Different Outcomes Explained
    Walter de Gruyter GmbH ; 2009
    In:  Economics Vol. 3, No. 1 ( 2009-12-01)
    Details
    In: Economics, Walter de Gruyter GmbH, Vol. 3, No. 1 ( 2009-12-01)
    Abstract: This paper studies the Balassa–Samuelson effects in two areas with strong differences in economic development, sixteen OECD countries and sixteen Latin American economies. The USA is taken as a benchmark. Applying recent panel cointegration and bootstrapping techniques that solve for cross-sectional dependence and small panel size problems, we find some evidence for not rejecting the whole hypothesis in the LA area. In the context of OECD group, the second stage of the BS hypothesis, which relates relative sector prices with the real exchange rate, does not hold, probably because national markets remain to some extent segmented, as reflected in departures from PPP in the tradable sectors.
    Type of Medium: Online Resource
    ISSN: 1864-6042
    URL: Article
    DOI: 10.5018/economics-ejournal.ja.2009-2
    Language: English
    Publisher: Walter de Gruyter GmbH
    Publication Date: 2009
    detail.hit.zdb_id: 2324918-3
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    Online Resource
  • 2
    Online Resource
    Online Resource
    Current-Account Imbalances, Real Exchange-Rate Misalignments, and Output Gaps
    Walter de Gruyter GmbH ; 2022
    In:  Economics Vol. 16, No. 1 ( 2022-03-22), p. 57-72
    Details
    In: Economics, Walter de Gruyter GmbH, Vol. 16, No. 1 ( 2022-03-22), p. 57-72
    Abstract: This study analyzes the relationships between domestic and foreign output gaps, current-account imbalances, and real effective exchange-rate (REER) misalignments. We first set up a theoretical framework based on the elasticities and absorption approaches of the balance of payments to derive and clarify these relationships. Next, we perform panel VAR estimates in a sample of 18 advanced economies between 1986 and 2017. We find an inverse relationship between domestic output gaps and current accounts with reciprocal influences between the two variables. Moreover, we observe that increases in current accounts generally boost both temporary and structural growth. Additionally, our results indicate that REER misalignment shocks cause reactions of the opposite sign on the current account and on cyclical economic growth. We also find evidence of higher growth resulting in a real exchange-rate appreciation, which supports the Balassa–Samuelson hypothesis.
    Type of Medium: Online Resource
    ISSN: 1864-6042
    URL: Article
    DOI: 10.1515/econ-2022-0021
    Language: English
    Publisher: Walter de Gruyter GmbH
    Publication Date: 2022
    detail.hit.zdb_id: 2324918-3
    Location Call Number Limitation Availability
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    Online Resource
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