2026-03-15T11:25:32Z https://iuj.repo.nii.ac.jp/oai

oai:iuj.repo.nii.ac.jp:00000423 2023-06-23T12:30:51Z 1

Real Shock or Nominal Shock?: Exchange Rate Movements in Cambodia and Lao PDR Real Shock or Nominal Shock?: Exchange Rate Movements in Cambodia and Lao PDR Ok, Seiha 柿中, 真 カキナカ, マコト 宮本, 弘暁 ミヤモト, ヒロアキ Ok, Seiha Kakinaka, Makoto Miyamoto, Hiroaki Real and nominal exchange rates Real and nominal shocks SVAR analysis Cambodia and Lao PDR Real and nominal exchange rates Real and nominal shocks SVAR analysis Cambodia and Lao PDR This paper discusses a primary factor responsible for exchange rate fluctuations of the Cambodian riel and the Laotian kip against the US dollar. The dynamic effects of real and nominal shocks are examined through applying a vector autoregression (VAR) model of real and nominal exchange rates under the assumption of the long-run neutrality of nominal shocks on real exchange rates. This approach allows us to decompose exchange rate movements into two components, real and nominal factors, in order to identify how these factors influence exchange rate fluctuations. The empirical analysis demonstrates that real shocks in direction of depreciation lead to real and nominal depreciation, while nominal shocks induce long-run nominal depreciation but real appreciation in the short-run. 2010-04-01 eng departmental bulletin paper https://iuj.repo.nii.ac.jp/records/423 Economics & Management Series https://iuj.repo.nii.ac.jp/record/423/files/EMS_2010_05.pdf application/pdf 370.7 kB 2017-04-13