Exchange Rate Volatility and Trade Flows--Some New Evidence PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Exchange Rate Volatility and Trade Flows--Some New Evidence PDF full book. Access full book title Exchange Rate Volatility and Trade Flows--Some New Evidence by International Monetary Fund. Download full books in PDF and EPUB format.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
Get Book Here
Book Description
NULL
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
Get Book Here
Book Description
NULL
Author: Bahar Erdal
Publisher: Routledge
ISBN: 1351801724
Category : Business & Economics
Languages : en
Pages : 172
Get Book Here
Book Description
Originally published in 1997. This study investigates what the effects of real exchange rate volatility are on sectorial investment in the fixed and flexible exchange rate systems. It lays out the results of research into the effects of the levels and volatility of real exchange rates on investment in the manufacturing sectors of the countries in the European Monetary System as well as of the countries in the flexible exchange rate system, with data from between 1973 and 1993. Examining the differences between the two systems in the results this book also looks at exchange rate effects on interest rates at the time.
Author: Mr.Serhan Cevik
Publisher: International Monetary Fund
ISBN: 1475546645
Category : Business & Economics
Languages : en
Pages : 35
Get Book Here
Book Description
Standard models—based exclusively on macro-financial variables—have made little progress in explaining the behavior of exchange rates. In this paper, we introduce a neglected set of “soft power” factors capturing a country’s demographic, institutional, political and social underpinnings to uncover the “missing” determinants of exchange rate volatility over time and across countries. Based on a balanced panel dataset comprising 115 countries during the period 1996–2011, the empirical results are generally robust across different estimation methodologies and show a high degree of persistence in exchange rate volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the “soft power” variables—such as an index of voice and accountability, life expectancy, educational attainment, the z-score of banks, and the share of agriculture relative to services—have a statistically significant influence on the level of exchange rate volatility across countries.
Author: Emmanuel Erem
Publisher: GRIN Verlag
ISBN: 3668903921
Category : Business & Economics
Languages : en
Pages : 61
Get Book Here
Book Description
Master's Thesis from the year 2018 in the subject Economics - International Economic Relations, grade: A, National University of Ireland, Maynooth (Department of Economics, Finance and Accounting), course: MSc Economic and Financial Risk Analysis, language: English, abstract: The purpose of this thesis is to examine the effect of real exchange rate volatility between the Canadian and US dollars on real exports from Canada to US. The study uses quarterly data from 1960-2017. The GARCH (1, 1) is used to model exchange rate volatility. After finding the variables are non-stationary with no co-integration, a VAR (Vector Auto regression) model is used to investigate the short-run relationship in the variables using Granger causality, impulse response functions and variance decomposition estimates. The results reveal that the effect of exchange rate volatility is of mixed signs with coefficients that are not statistically significant. The thesis is divided into 7 chapters; chapter 2 gives an overview of important literature and contributions by researchers over the years specifically covering the relationship between exchange rate volatility and trade, exchange rate regimes, exchange rate target zones and inflation targeting. Chapter 3 presents the model and data used, definitions of the variables and the predictions of the model. Chapter 4 gives a theoretical and econometric overview of the unit root and co-integration tests. Chapter 5 gives the data output of the empirical results and discussions of test results. This output is presented using graphs and tables. Chapter 6 is a presentation of the limitations of the model and possible areas of improvement. Lastly, chapter 7 concludes and gives policy recommendations moving forward. Exchange rates are a key player in any economy that is engaging in international trade. A stable monetary policy system and financial sector play a key role in ensuring the exchange rate stability of the currency of a country. Firms and traders rely on prevailing exchange rates to forecast amounts to produce, import and export; thus are very much affected by the exchange rate volatility. In addition to this, there is a currency conversion cost in international trade. Traders use a number of products in financial markets to hedge against currency fluctuations; these include among others forwards contracts. This is especially true for short-term hedging than long-term hedging.
Author: Mr.Peter B. Clark
Publisher: International Monetary Fund
ISBN: 1451936621
Category : Business & Economics
Languages : en
Pages : 40
Get Book Here
Book Description
This paper investigates the consequences of exchange rate volatility on the variability of export prices and quantities in the presence of market segmentation and pricing to market. Firms stabilize destination prices through systematic price discrimination, limiting the degree of exchange rate pass-through. Consequently, the variability of exchange rates is not fully translated into prices and quantities at the point of destination. Empirical estimates using aggregate price data for the G-7 industrial countries show incomplete pass-through in variances, with considerable variation among these countries. U.S. industry specific data also indicate incomplete pass-through in most cases, with considerable variation across industries.
Author: Jules Morris Buxbaum
Publisher:
ISBN:
Category :
Languages : en
Pages : 165
Get Book Here
Book Description
Author: Robert C. Feenstra
Publisher:
ISBN:
Category : Exports
Languages : en
Pages : 56
Get Book Here
Book Description
We examine how exchange rate volatility affects exporter's pricing decisions in the presence of optimal forward covering. By taking account of forward covering, we are able to derive an expression for the risk premium in the foreign exchange market, which is then estimated as a generalized ARCH model to obtain the time-dependent variance of the exchange rate. Our theory implies a connection between the estimated risk premium equation, and the influence of exchange rate volatility on export prices. In particular, we argue that if there is no risk premium, then exchange rate variance can only have a negative impact on export prices. In the presence of a risk premium, however, the effect of exchange rate variance on export prices is ambiguous, and may be statistically insignificant with aggregate data. These results are supported using data on aggregate U.S. imports and exchange rates of the dollar against the pound. yen and mark.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
Get Book Here
Book Description
Author: Mardi Dungey
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 50
Get Book Here
Book Description
Author: Christian Hafner
Publisher: Springer Science & Business Media
ISBN: 3662126052
Category : Business & Economics
Languages : en
Pages : 235
Get Book Here
Book Description
The book deals with the econometric analysis of high frequency financial time series. It emphasizes a new nonparametric approach to volatility models and provides theoretical and empirical comparisons with conventional ARCH models, applied to foreign exchange rates. Nonparametric models are discussed that cope with asymmetry and long memory of volatility as well as heterogeneity of higher conditional moments.
