全球智库信息集成服务系统(G2TT): DP7732 How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP7732
	DP7732 How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States
	Almuth Scholl; Gernot Müller; Zeno Enders
发表日期	2010-03-14
出版年	2010
语种	英语
摘要	Using vector autoregressions on U.S. time series relative to an aggregate of industrialized countries, this paper provides new evidence on the dynamic effects of government spending and technology shocks on the real exchange rate and the terms of trade. To achieve identification, we derive robust restrictions on the sign of several impulse responses from a two-country general equilibrium model. We find that both the real exchange rate and the terms of trade --whose responses are left unrestricted -- depreciate in response to expansionary government spending shocks and appreciate in response to positive technology shocks.
主题	International Macroeconomics
关键词	Government spending shocks International transmission mechanism Real exchange rate Sign restrictions Technology shocks Terms of trade Var
URL	https://cepr.org/publications/dp7732
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/536569
推荐引用方式 GB/T 7714	Almuth Scholl,Gernot Müller,Zeno Enders. DP7732 How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States. 2010.