Identifying Determinants of Germany's International Price Competitiveness: A Structural VAR Approach
The paper employs a structural vector auto-regression (SVAR) along the lines of Blanchard and Quah (1989) and Clarida and Gali (1994) to identify the sources of changes in German international price competitiveness over the past 30 years. This leads to a separation of the driving forces of the real...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2006
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.523 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The paper employs a structural vector auto-regression (SVAR) along the lines of Blanchard and Quah (1989) and Clarida and Gali (1994) to identify the sources of changes in German international price competitiveness over the past 30 years. This leads to a separation of the driving forces of the real exchange rate into real demand, supply, and nominal shocks. Based on this decomposition, it is analysed whether real exchange rate changes have helped to stabilise output in the post re-unification period and whether such changes have facilitated the ongoing structural adjustment process of the German economy. The results indicate that real demand and nominal shocks have been the main drivers of the real exchange rate in the past, whereas output fluctuations have been almost entirely due to supply shocks. In particular, it turns out that improvements of Germany's price competitiveness in the second half of the 1990s have been primarily the result of a relative domestic demand restraint and hardly that of supply side expansions. |
| Beschreibung: | 1 Online-Ressource (30 p.) 21 x 29.7cm. |
| DOI: | 10.1787/407563327012 |
Internformat
MARC
| LEADER | 00000cam a22000002 4500 | ||
|---|---|---|---|
| 001 | ZDB-13-SOC-06126296X | ||
| 003 | DE-627-1 | ||
| 005 | 20231204121003.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 210204s2006 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1787/407563327012 |2 doi | |
| 035 | |a (DE-627-1)06126296X | ||
| 035 | |a (DE-599)KEP06126296X | ||
| 035 | |a (FR-PaOEC)407563327012 | ||
| 035 | |a (EBP)06126296X | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a C32 |2 jelc | ||
| 084 | |a F31 |2 jelc | ||
| 084 | |a F41 |2 jelc | ||
| 100 | 1 | |a Meurers, Martin |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Identifying Determinants of Germany's International Price Competitiveness |b A Structural VAR Approach |c Martin, Meurers = Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel / Martin, Meurers |
| 246 | 3 | 3 | |a Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel |
| 264 | 1 | |a Paris |b OECD Publishing |c 2006 | |
| 300 | |a 1 Online-Ressource (30 p.) |c 21 x 29.7cm. | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers |v no.523 | |
| 520 | |a The paper employs a structural vector auto-regression (SVAR) along the lines of Blanchard and Quah (1989) and Clarida and Gali (1994) to identify the sources of changes in German international price competitiveness over the past 30 years. This leads to a separation of the driving forces of the real exchange rate into real demand, supply, and nominal shocks. Based on this decomposition, it is analysed whether real exchange rate changes have helped to stabilise output in the post re-unification period and whether such changes have facilitated the ongoing structural adjustment process of the German economy. The results indicate that real demand and nominal shocks have been the main drivers of the real exchange rate in the past, whereas output fluctuations have been almost entirely due to supply shocks. In particular, it turns out that improvements of Germany's price competitiveness in the second half of the 1990s have been primarily the result of a relative domestic demand restraint and hardly that of supply side expansions. | ||
| 650 | 4 | |a Economics | |
| 650 | 4 | |a Germany | |
| 856 | 4 | 0 | |l FWS01 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/407563327012 |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 912 | |a ZDB-13-SOC | ||
| 951 | |a BO | ||
| 912 | |a ZDB-13-SOC | ||
| 049 | |a DE-863 | ||
Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-13-SOC-06126296X |
|---|---|
| _version_ | 1816797341022158848 |
| adam_text | |
| any_adam_object | |
| author | Meurers, Martin |
| author_facet | Meurers, Martin |
| author_role | aut |
| author_sort | Meurers, Martin |
| author_variant | m m mm |
| building | Verbundindex |
| bvnumber | localFWS |
| collection | ZDB-13-SOC |
| ctrlnum | (DE-627-1)06126296X (DE-599)KEP06126296X (FR-PaOEC)407563327012 (EBP)06126296X |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/407563327012 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02562cam a22003972 4500</leader><controlfield tag="001">ZDB-13-SOC-06126296X</controlfield><controlfield tag="003">DE-627-1</controlfield><controlfield tag="005">20231204121003.0</controlfield><controlfield tag="007">cr uuu---uuuuu</controlfield><controlfield tag="008">210204s2006 xx |||||o 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/407563327012</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)06126296X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP06126296X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(FR-PaOEC)407563327012</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(EBP)06126296X</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">C32</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">F31</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">F41</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Meurers, Martin</subfield><subfield code="e">VerfasserIn</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Identifying Determinants of Germany's International Price Competitiveness</subfield><subfield code="b">A Structural VAR Approach</subfield><subfield code="c">Martin, Meurers = Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel / Martin, Meurers</subfield></datafield><datafield tag="246" ind1="3" ind2="3"><subfield code="a">Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2006</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (30 p.)</subfield><subfield code="c">21 x 29.7cm.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">Computermedien</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Online-Ressource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield><subfield code="v">no.523</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">The paper employs a structural vector auto-regression (SVAR) along the lines of Blanchard and Quah (1989) and Clarida and Gali (1994) to identify the sources of changes in German international price competitiveness over the past 30 years. This leads to a separation of the driving forces of the real exchange rate into real demand, supply, and nominal shocks. Based on this decomposition, it is analysed whether real exchange rate changes have helped to stabilise output in the post re-unification period and whether such changes have facilitated the ongoing structural adjustment process of the German economy. The results indicate that real demand and nominal shocks have been the main drivers of the real exchange rate in the past, whereas output fluctuations have been almost entirely due to supply shocks. In particular, it turns out that improvements of Germany's price competitiveness in the second half of the 1990s have been primarily the result of a relative domestic demand restraint and hardly that of supply side expansions.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Germany</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="l">FWS01</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/407563327012</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">BO</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-13-SOC-06126296X |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:56:02Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-863 DE-BY-FWS |
| owner_facet | DE-863 DE-BY-FWS |
| physical | 1 Online-Ressource (30 p.) 21 x 29.7cm. |
| psigel | ZDB-13-SOC |
| publishDate | 2006 |
| publishDateSearch | 2006 |
| publishDateSort | 2006 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Meurers, Martin VerfasserIn aut Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach Martin, Meurers = Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel / Martin, Meurers Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel Paris OECD Publishing 2006 1 Online-Ressource (30 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.523 The paper employs a structural vector auto-regression (SVAR) along the lines of Blanchard and Quah (1989) and Clarida and Gali (1994) to identify the sources of changes in German international price competitiveness over the past 30 years. This leads to a separation of the driving forces of the real exchange rate into real demand, supply, and nominal shocks. Based on this decomposition, it is analysed whether real exchange rate changes have helped to stabilise output in the post re-unification period and whether such changes have facilitated the ongoing structural adjustment process of the German economy. The results indicate that real demand and nominal shocks have been the main drivers of the real exchange rate in the past, whereas output fluctuations have been almost entirely due to supply shocks. In particular, it turns out that improvements of Germany's price competitiveness in the second half of the 1990s have been primarily the result of a relative domestic demand restraint and hardly that of supply side expansions. Economics Germany FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/407563327012 Volltext |
| spellingShingle | Meurers, Martin Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach Economics Germany |
| title | Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach |
| title_alt | Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel |
| title_auth | Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach |
| title_exact_search | Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach |
| title_full | Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach Martin, Meurers = Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel / Martin, Meurers |
| title_fullStr | Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach Martin, Meurers = Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel / Martin, Meurers |
| title_full_unstemmed | Identifying Determinants of Germany's International Price Competitiveness A Structural VAR Approach Martin, Meurers = Recherche des déterminants de la compétitivité-prix internationale de l'Allemagne à partir d'un modèle vectoriel autorégressif (VAR) structurel / Martin, Meurers |
| title_short | Identifying Determinants of Germany's International Price Competitiveness |
| title_sort | identifying determinants of germany s international price competitiveness a structural var approach |
| title_sub | A Structural VAR Approach |
| topic | Economics Germany |
| topic_facet | Economics Germany |
| url | https://doi.org/10.1787/407563327012 |
| work_keys_str_mv | AT meurersmartin identifyingdeterminantsofgermanysinternationalpricecompetitivenessastructuralvarapproach AT meurersmartin recherchedesdeterminantsdelacompetitiviteprixinternationaledelallemagneapartirdunmodelevectorielautoregressifvarstructurel |