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Full-Text Articles in Economics
Testing For A Nonlinear Relationship Among Fundamentals And Exchange Rates In The Erm, Yue Ma, Angelos Kanas
Testing For A Nonlinear Relationship Among Fundamentals And Exchange Rates In The Erm, Yue Ma, Angelos Kanas
CAPS Working Paper Series
We employ two nonparametric nonlinear testing methodologies, namely a nonparametric nonlinear cointegration approach and nonlinear Granger causality approach, to test for a nonlinear relationship between macroeconomic fundamentals and exchange rates for two country-pairs, namely the Netherlands-Germany and France-Germany. The result suggest that there is nonlinear cointegration among money, output and exchange rates for Netherlands-Germany, which can be interpreted as evidence of a long-run nonlinear relationship. For France-Germany, we fail to find evidence of nonlinear cointegration, but we find nonlinear Granger causality from French money to the FFr/DM exchange rate. These findings may be interpreted as evidence of a dynamic nonlinear …
Coping With Contagion : Europe And The Asian Economic Crisis, Brian Bridges
Coping With Contagion : Europe And The Asian Economic Crisis, Brian Bridges
CAPS Working Paper Series
No abstract provided.
Export Competitiveness Of China And Asean In The Us Market, Thomas J. Voon
Export Competitiveness Of China And Asean In The Us Market, Thomas J. Voon
CAPS Working Paper Series
This paper aims to provide a comparison of the changing pattern of export competitiveness among China and the four ASEAN countries comprising Indonesia, Malaysia, Singapore and Thailand (hereafter ASEAN-4) as exporters of primary commodities, labour-intensive goods as well as technology-intensive manufactures in the US market. Competitiveness is defined as country A’s ability to gain market share on a common export destination (such as the US import market). There are many popssible factors contributing to the changing level of competitiveness of a trading country. In this paper, we confine our analyss to evaluating how important relative changes in real exchange rate, …