کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
964813 930618 2009 23 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Investment and the exchange rate: Short run and long run aggregate and sector-level estimates
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Investment and the exchange rate: Short run and long run aggregate and sector-level estimates
چکیده انگلیسی

Aggregate and sector-level investment equations are estimated for a panel of 17 OECD countries using an error correction methodology. A real currency depreciation is found to reduce aggregate investment and investment in all nine sectors in the short run, and aggregate investment in the long run. The decline in investment is quite persistent in service sectors, sectors that generally benefit less from an expansion of demand following a currency depreciation. A rise in the real wage has no short run impact on investment in most sectors, but has a significant negative long run effect in six of nine sectors.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 28, Issue 5, September 2009, Pages 813–835
نویسندگان
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