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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557750655
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557750655
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate variability on trade. Against the background of this concern, the following decision was reached at the ministerial meeting of the General Agreement of Tariffs and Trade (GATT) in November 1982.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
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Author: Robert C. Feenstra
Publisher:
ISBN:
Category :
Languages : es
Pages : 34
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Book Description
Author: Mr.Peter B. Clark
Publisher: International Monetary Fund
ISBN: 1451936621
Category : Business & Economics
Languages : en
Pages : 40
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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: Robert C. Feenstra
Publisher:
ISBN:
Category : Exports
Languages : en
Pages : 56
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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: Joseph E. Gagnon
Publisher: Peterson Institute
ISBN: 0881326356
Category : Business & Economics
Languages : en
Pages : 301
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Book Description
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Author: Ying Qian
Publisher: World Bank Publications
ISBN:
Category : Exports
Languages : en
Pages : 47
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Book Description
Inconsistency in the relationship between exchange rate volatility and export growth reflects differences among countries in the currency in which trade is invoiced. Also, exchange rate volatility may affect the allocation of trade more than its level.
Author: Marshall Sarnat
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 264
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Book Description
Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 0226386899
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.
Author: Suchada Vichitakul Langley
Publisher: Captus Press
ISBN: 9781553220435
Category : Business & Economics
Languages : en
Pages : 184
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Book Description
