دانلود مقاله ISI انگلیسی شماره 8796
عنوان فارسی مقاله

ادغام پولی اروپا و تداوم نرخ ارز واقعی

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
8796 2009 8 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
European monetary integration and persistance of real exchange rates
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Finance Research Letters, Volume 6, Issue 4, December 2009, Pages 242–249

کلمات کلیدی
نرخ واقعی ارز اروپا - تغییرات در ادغام نظم
پیش نمایش مقاله
پیش نمایش مقاله ادغام پولی اروپا و تداوم نرخ ارز  واقعی

چکیده انگلیسی

The aim of this paper is to analyze whether the persistence properties of the European real exchange rates changed when their currencies joined the euro or during the monetary integration process. More specifically, we investigate whether, as a result of the single currency or the previous macroeconomic stability, nominal price rigidities have decreased and the persistence of real exchange has fallen. We test for stationarity against a change in the integration order on different competitiveness measures during the period that runs from the middle of the seventies to nowadays. The results show that the real exchange rates of the European periphery (Spain, Italy, Portugal, Greece and Finland) underwent a change in their order of integration from I(1) to I(0) at some time around the middle of the 1990s. On the other hand, the real exchange rates of the Central European countries, with a greater stability in the 1980s and 1990s, changed their integration order earlier, if at all, mostly during the 1980s. So, the euro seems to have had, on the whole, little influence on the persistence of real exchange rates. Only for a few countries do our findings detect a significant decrease in persistence related with the nominal convergence process.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.