Can a real business cycle model without price and wage stickiness explain UK real exchange rate behaviour?

Meenagh, David ORCID: https://orcid.org/0000-0002-9930-7947, Minford, Anthony Patrick Leslie ORCID: https://orcid.org/0000-0003-2499-935X, Nowell, Eric and Sofat, Prakriti 2010. Can a real business cycle model without price and wage stickiness explain UK real exchange rate behaviour? Journal of International Money and Finance 29 (6) , pp. 1131-1150. 10.1016/j.jimonfin.2010.02.006

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Abstract

This paper establishes the ability of a Real Business Cycle model to account for UK real exchange rate behaviour. The model is tested by the method of indirect inference, bootstrapping the errors to generate 95% confidence limits for a time-series representation of the real exchange rate, as well as for various key data moments. The results suggest RBC models can explain real exchange rate movements.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Professional Services > Advanced Research Computing @ Cardiff (ARCCA) Schools > Business (Including Economics)
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HG Finance
Uncontrolled Keywords:	Real exchange rate ; Productivity ; Real business cycle ; Bootstrap ; Indirect inference
Publisher:	Elsevier
ISSN:	0261-5606
Last Modified:	18 Oct 2022 14:32
URI:	https://orca.cardiff.ac.uk/id/eprint/17885

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