TY  - UNPD
A1  - Enders, Zeno
A1  - Müller, Gernot J.
A1  - Scholl, Almut
T1  - How do fiscal and technology shocks affect real exchange rates? : New evidence for the United States
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2008,22
N2  - 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.
T3  - CFS working paper series - 2008, 22 
KW  - Real Exchange Rate
KW  - Terms of Trade
KW  - International Transmission Mechanism
KW  - Government Spending Shocks
KW  - Technology Shocks
KW  - VAR
KW  - Sign Restrictions
KW  - USA
KW  - Öffentliche Ausgaben
KW  - Technischer Fortschritt
KW  - Realer Wechselkurs
KW  - Terms of Trade
Y1  - 2008
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/5747
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-56955
ER  -