DETERMINANTS OF REAL EXCHANGE RATE: A BEHAVIOURAL AND FUNDAMENTAL DYNAMIC ANALYSIS IN LATIN AMERICAN COUNTRIES

JDE (Journal of Developing Economies)

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Title DETERMINANTS OF REAL EXCHANGE RATE: A BEHAVIOURAL AND FUNDAMENTAL DYNAMIC ANALYSIS IN LATIN AMERICAN COUNTRIES
 
Creator Chavez, Cesar
 
Description In this research, we analyze the determinants of the real exchange rate through the fundamentals and behavioral factors, adding other variables as monetary aggregates, economic growth, domestic savings, and productivity. We worked with thirteen Latin American countries from 1980 to 2018 and we used three estimates such as fixed-effects, random-effects, and System GMM. The findings show that although the real exchange rate has a large random component, due to the high coefficient presented by the past values of that variable, there are other variables such as terms of trade, net foreign assets, tax revenue, monetary aggregates, savings rates and productivity, or real interest rate differentials, relative price and economic growth, which can impact negatively and positively respectively. Keywords: Real Exchange Rate, System GMM, Macroeconomics FactorsJEL Classification: E52, E62, C33, C53
 
Publisher Universitas Airlangga
 
Contributor
 
Date 2020-06-10
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://e-journal.unair.ac.id/JDE/article/view/18814
10.20473/jde.v5i1.18814
 
Source JDE (Journal of Developing Economies); Vol 5, No 1 (2020); 68-83
2528-2018
2541-1012
 
Language eng
 
Relation https://e-journal.unair.ac.id/JDE/article/view/18814/10643
 
Rights Copyright (c) 2020 Cesar Chavez
http://creativecommons.org/licenses/by/4.0
 

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