How do fiscal and technology shocks affect real exchange rates? New evidence for the United States

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dc.contributor.authorEnders, Zenodeu
dc.contributor.authorMüller, Gernot J.deu
dc.contributor.authorScholl, Almuth
dc.date.accessioned2012-02-01T09:42:57Zdeu
dc.date.available2012-02-01T09:42:57Zdeu
dc.date.issued2011
dc.description.abstractUsing 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.eng
dc.description.versionpublished
dc.identifier.citationPubl. in: Journal of International Economics ; 83 (2011), 1. - S. 53-69deu
dc.identifier.doi10.1016/j.jinteco.2010.08.005deu
dc.identifier.ppn1885512309
dc.identifier.urihttp://kops.uni-konstanz.de/handle/123456789/17682
dc.language.isoengdeu
dc.legacy.dateIssued2012-02-01deu
dc.rightsterms-of-usedeu
dc.rights.urihttps://rightsstatements.org/page/InC/1.0/deu
dc.subjectreal exchange ratedeu
dc.subjectterms of tradedeu
dc.subjectgovernment spending shocksdeu
dc.subjecttechnology shocksdeu
dc.subjectVARdeu
dc.subjectsign restrictionsdeu
dc.subject.ddc330
dc.subject.jelF41, F42; E32deu
dc.titleHow do fiscal and technology shocks affect real exchange rates? New evidence for the United Stateseng
dc.typeJOURNAL_ARTICLEdeu
dspace.entity.typePublication
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  title={How do fiscal and technology shocks affect real exchange rates? New evidence for the United States},
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  volume={83},
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  journal={Journal of International Economics},
  pages={53--69},
  author={Enders, Zeno and Müller, Gernot J. and Scholl, Almuth}
}
kops.citation.iso690ENDERS, Zeno, Gernot J. MÜLLER, Almuth SCHOLL, 2011. How do fiscal and technology shocks affect real exchange rates? New evidence for the United States. In: Journal of International Economics. 2011, 83(1), pp. 53-69. ISSN 0022-1996. Available under: doi: 10.1016/j.jinteco.2010.08.005deu
kops.citation.iso690ENDERS, Zeno, Gernot J. MÜLLER, Almuth SCHOLL, 2011. How do fiscal and technology shocks affect real exchange rates? New evidence for the United States. In: Journal of International Economics. 2011, 83(1), pp. 53-69. ISSN 0022-1996. Available under: doi: 10.1016/j.jinteco.2010.08.005eng
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