Übersetzung für "Real effective exchange rate" in Deutsch

The real effective exchange rate is a major determinant of cross-border trade flows.

The real effective exchange rate is deflated by nominal unit labourcosts.

For the euro area the real effective exchange rate of the euro vis-à-vis 38 trading partners is displayed.

Unit labour cost growth is contained and the real effective exchange rate depreciated in 2014.

Firstly, the depreciation of the real effective exchange rate of the D-Mark improved Germany's international competitiveness.

The euro's real effective exchange rate was close to its historical average, he said.

In the fourth quarter of 2004 the real effective exchange rate indices of the euro stood well above their level in the first quarter of 1999 , and the measures based on consumer and producer price developments were also fairly close to the peak levels observed over the past ten years .

Meanwhile, inflation, rising wages, and the renminbi’s nominal appreciation have driven up the real effective exchange rate, though this trend has been tempered, to some extent, by the euro’s persistently high value.

Hence the need to look at the “real effective exchange rate,” or the nominal effective exchange rate adjusted for inflation.

Back then, pegging the renminbi to the dollar pushed down China’s real effective exchange rate, because the dollar was losing value against other currencies, such as the euro, sterling, and yen.

According to the Bank for International Settlements (BIS), China's real effective exchange rate – an inflation-adjusted trade-weighted average of the renminbi's value relative to the currencies of a cross-section of China's trading partners – has increased by 26% over the last four years.

But expanding demand and allowing real effective exchange rate appreciation in China will not be enough if other countries do not do their part.

The lack of adjustment of surplus countries with inflexible exchange rate-regimes means that as the US deficit falls, a counterbalancing deficit develops elsewhere in the world – along with real effective exchange rate appreciation.

That structural shift, in combination with the renminbi’s strengthening effective real exchange rate relative to the dollar, owing to inflation and rapidly rising wages in export sectors, offers hope that China’s surplus will fall.

In the fourth quarter of 2005 , the real effective exchange rate indices of the euro were slightly above the level observed in the first quarter of 1999 and close to their average level over the past ten years .

There have however been losses in export market shares in recent years, which, if persisting, may indicate risks of competitiveness erosion even if cost competitiveness developments moderated in 2014 as the growth in unit labour costs decelerated while the real effective exchange rate remained unchanged.

There have been gains in cost competitiveness, as reflected in the significant reduction in unit labour costs and decline in the HICP-based real effective exchange rate.

The downward adjustment in unit labour costs in Member States facing higher adjustment needs was followed by a more muted though still visible relative decline in the real effective exchange rate, suggesting some responsiveness of price-cost margins to weak economic conditions.

Export market shares showed some losses on an annual basis, reflecting modest real effective exchange rate appreciation and some, albeit contained, nominal ULC increases.